SemiLEDs Corporation (LEDS) Balance Sheet
LEDS balance sheet, FY2025
August 31, 2025 · U.S. dollars$15.6M assets = $12.8M liabilities + $2.8M equity
Both columns are drawn to the same scale: what LEDS owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LEDS financial health
Descriptive bands, not a rating. Fiscal FY2025.
LEDS balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $22.2MFY2016 | $15.6MFY2025 | −3.9%/yr | |
| Total liabilities | $10.6MFY2016 | $12.8MFY2025 | +2.1%/yr | |
| Shareholders’ equity | $11.6MFY2016 | $2.8MFY2025 | −14.7%/yr | |
| Cash & short-term investments | $6.0MFY2016 | $2.6MFY2025 | −9.0%/yr | |
| Total debt | $2.9MFY2016 | $2.8MFY2025 | −0.2%/yr | |
| Net cash (debt) | $3.1MFY2016 | −$256,000FY2025 | −$3.4M | |
| Working capital | $6.7MFY2016 | −$81,000FY2025 | −$6.8M | |
| Book value per share | $3.95FY2016 | $0.36FY2025 | −23.4%/yr | |
| Current ratio | 2.37FY2016 | 0.99FY2025 | −1.38 | |
| Debt / equity | 0.25FY2016 | 1.02FY2025 | +0.77 | |
| Shares outstanding | 2.9MFY2016 | 7.7MFY2025 | +11.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LEDS assets
LEDS liabilities and equity
LEDS debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LEDS balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $2.6M | $1.7M | $2.6M | $4.3M | $4.8M | $2.8M | $1.4M | $3.4M | $3.6M | $6.0M |
| Cash & equivalents | $2.6M | $1.7M | $2.6M | $4.3M | $4.8M | $2.8M | $1.4M | $3.4M | $3.6M | $6.0M |
| Short-term investments | — | $78,000 | — | — | — | $952,000 | — | $0 | $0 | $0 |
| Receivables | $3.6M | $416,000 | $793,000 | $880,000 | $865,000 | $1.3M | $703,000 | $282,000 | $1.1M | $900,000 |
| Inventory | $4.8M | $3.6M | $4.0M | $3.8M | $3.9M | $2.5M | $2.1M | $1.8M | $2.9M | $4.1M |
| Other current assets | $345,000 | $301,000 | $207,000 | $205,000 | $419,000 | $866,000 | $479,000 | $340,000 | $405,000 | $640,000 |
| Total current assets | $11.3M | $6.0M | $7.6M | $9.1M | $10.1M | $7.5M | $4.6M | $5.9M | $8.0M | $11.6M |
| Property, plant & equipment (net) | $3.9M | $3.9M | $4.6M | $5.7M | $6.9M | $5.8M | $5.9M | $7.2M | $8.3M | $8.8M |
| Goodwill & intangible assets | $100,000 | $90,000 | $97,000 | $102,000 | $126,000 | $178,000 | $186,000 | $196,000 | $208,000 | $88,000 |
| Long-term investments | $65,000 | $969,000 | $974,000 | $922,000 | $1.0M | $952,000 | $894,000 | $914,000 | $992,000 | $1.4M |
| Other non-current assets | $272,000 | $228,000 | $186,000 | $170,000 | $169,000 | $97,000 | $76,000 | $66,000 | $151,000 | $329,000 |
| Total assets | $15.6M | $11.1M | $13.5M | $16.1M | $18.2M | $14.6M | $11.7M | $14.2M | $17.7M | $22.2M |
| Liabilities | ||||||||||
| Accounts payable | $5.0M | $137,000 | $436,000 | $286,000 | $753,000 | $536,000 | $680,000 | $894,000 | $1.1M | $1.3M |
| Short-term debt | $1.4M | $2.9M | $5.2M | $5.2M | $5.2M | $4.8M | $398,000 | $335,000 | $335,000 | $314,000 |
| Deferred revenue | $796,000 | $344,000 | $346,000 | $346,000 | $293,000 | $648,000 | $680,000 | $3.7M | $3.8M | $995,000 |
| Total current liabilities | $11.4M | $7.0M | $9.7M | $9.3M | $9.5M | $9.0M | $3.9M | $7.2M | $7.5M | $4.9M |
| Long-term debt | $434,000 | $870,000 | $1.3M | $1.9M | $2.6M | $2.9M | $6.0M | $2.0M | $2.4M | $2.6M |
| Lease obligations | $1.1M | $1.1M | $1.4M | $1.6M | $1.6M | $203,000 | — | — | — | — |
| Other long-term liabilities | $996,000 | $997,000 | $1.2M | $1.4M | $1.5M | $106,000 | $0 | $0 | $0 | $3.1M |
| Total liabilities | $12.8M | $8.9M | $12.3M | $12.6M | $13.6M | $12.0M | $9.9M | $9.2M | $9.9M | $10.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | — | $175.5M | $175.4M | $175.4M |
| Retained earnings (deficit) | −$189.8M | −$188.7M | −$186.6M | −$184.0M | −$181.2M | −$178.4M | −$177.8M | −$174.3M | −$171.3M | −$167.2M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | $3.7M | $3.5M | $3.5M | $3.7M | $3.5M | $3.6M | $3.8M | $3.7M | $3.7M | $3.4M |
| Minority interest | $0 | $48,000 | $43,000 | $45,000 | — | $46,000 | — | $0 | $0 | $0 |
| Total shareholders' equity | $2.8M | $2.2M | $1.2M | $3.5M | $4.6M | $2.5M | $1.7M | $5.0M | $7.8M | $11.6M |
| Key figures | ||||||||||
| Total debt | $2.8M | $4.8M | $7.7M | $8.5M | $9.3M | $7.9M | $6.4M | $2.3M | $2.7M | $2.9M |
| Net cash (debt) | −$256,000 | −$3.1M | −$5.2M | −$4.2M | −$4.5M | −$5.0M | −$5.0M | $1.1M | $856,000 | $3.1M |
| Working capital | −$81,000 | −$1.1M | −$2.1M | −$112,000 | $547,000 | −$1.5M | $708,000 | −$1.4M | $582,000 | $6.7M |
| Tangible book value | $2.7M | $2.1M | $1.1M | $3.4M | $4.5M | $2.3M | $1.6M | $4.8M | $7.6M | $11.5M |
| Book value per share | $0.36 | $0.35 | $0.24 | $0.76 | $1.10 | $0.64 | $0.49 | $1.41 | $2.21 | $3.95 |
| Shares outstanding | 7.7M | 6.3M | 4.9M | 4.5M | 4.2M | 3.9M | 3.6M | 3.5M | 3.5M | 2.9M |
| Current ratio | 0.99 | 0.85 | 0.78 | 0.99 | 1.06 | 0.83 | 1.18 | 0.81 | 1.08 | 2.37 |
| Quick ratio | 0.54 | 0.30 | 0.35 | 0.56 | 0.60 | 0.46 | 0.53 | 0.51 | 0.63 | 1.41 |
| Debt / equity | 1.02 | 2.19 | 6.72 | 2.46 | 2.03 | 3.12 | 3.65 | 0.47 | 0.35 | 0.25 |
| Equity / assets | 17.8% | 19.8% | 8.6% | 21.5% | 25.1% | 17.3% | 14.9% | 35.1% | 44.2% | 52.2% |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | May '24 | Feb '24 | Nov '23 | Aug '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $6.0M | $4.0M | $2.9M | $2.6M | $2.4M | $2.4M | $1.2M | $1.7M | $1.7M | $1.6M | $2.3M | $2.6M |
| Cash & equivalents | $6.0M | $4.0M | $2.9M | $2.6M | $2.4M | $2.4M | $1.2M | $1.7M | $1.7M | $1.6M | $2.3M | $2.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $89,999 | — | — | — |
| Receivables | $2.2M | $1.6M | $1.9M | $3.6M | $164,000 | $280,000 | $261,000 | $416,000 | $668,000 | $748,000 | $897,000 | $793,000 |
| Inventory | $4.7M | $4.9M | $3.9M | $4.8M | $11.9M | $13.5M | $3.7M | $3.6M | $3.7M | $3.8M | $3.9M | $4.0M |
| Other current assets | $960,000 | $1.9M | $1.6M | $345,000 | $3.2M | $2.0M | $262,000 | $301,000 | $359,000 | $324,000 | $225,000 | $207,000 |
| Total current assets | $13.9M | $12.4M | $10.2M | $11.3M | $17.7M | $18.2M | $5.5M | $6.0M | $6.4M | $6.4M | $7.3M | $7.6M |
| Property, plant & equipment (net) | $3.3M | $3.4M | $3.6M | $3.9M | $4.1M | $3.7M | $3.6M | $3.9M | $3.9M | $4.3M | $4.5M | $4.6M |
| Goodwill & intangible assets | $106,000 | $110,000 | $109,000 | $100,000 | $94,000 | $89,000 | $85,000 | $90,000 | $91,000 | $96,000 | $100,000 | $97,000 |
| Long-term investments | $47,000 | $49,000 | $55,000 | $65,000 | $1.0M | $930,000 | $949,000 | $969,000 | $957,000 | $986,000 | $1.0M | $974,000 |
| Other non-current assets | $250,000 | $252,000 | $248,000 | $272,000 | $230,000 | $206,000 | $223,000 | $228,000 | $190,000 | $192,000 | $186,000 | $186,000 |
| Total assets | $17.5M | $16.3M | $14.2M | $15.6M | $23.2M | $23.2M | $10.4M | $11.1M | $11.5M | $12.0M | $13.2M | $13.5M |
| Liabilities | ||||||||||||
| Accounts payable | $4.9M | $2.2M | $1.6M | $5.0M | $10.8M | $445,000 | $340,000 | $137,000 | $203,000 | $179,000 | $409,000 | $436,000 |
| Short-term debt | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $1.4M | $2.9M | $2.9M | $3.0M | $3.0M | $5.1M | $5.2M |
| Deferred revenue | $3.0M | $6.3M | $4.0M | $796,000 | $1.4M | $12.7M | $336,000 | $344,000 | $349,000 | $365,000 | $368,000 | $346,000 |
| Total current liabilities | $13.5M | $13.6M | $10.9M | $11.4M | $17.6M | $18.0M | $7.1M | $7.0M | $6.8M | $6.6M | $9.9M | $9.7M |
| Long-term debt | $77,000 | $193,000 | $308,000 | $434,000 | $566,000 | $626,000 | $744,000 | $870,000 | $969,000 | $1.1M | $1.2M | $1.3M |
| Lease obligations | $1.0M | $1.0M | $1.1M | $1.1M | $1.2M | $1.1M | $1.0M | $1.1M | $1.1M | $1.3M | $1.4M | $1.4M |
| Other long-term liabilities | $900,000 | $920,000 | $937,000 | $996,000 | $1.1M | $991,000 | $965,000 | $997,000 | $1.0M | $1.2M | $1.3M | $1.2M |
| Total liabilities | $14.5M | $14.8M | $12.2M | $12.8M | $19.2M | $19.6M | $8.8M | $8.9M | $8.7M | $8.9M | $12.4M | $12.3M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$189.6M | −$191.2M | −$190.6M | −$189.8M | −$188.6M | −$188.8M | −$189.2M | −$188.7M | −$188.1M | −$187.8M | −$187.2M | −$186.6M |
| Accumulated other comprehensive income | $3.6M | $3.6M | $3.6M | $3.7M | $3.7M | $3.5M | $3.5M | $3.5M | $3.5M | $3.6M | $3.6M | $3.5M |
| Minority interest | $0 | $0 | $0 | $0 | $0 | — | — | — | — | — | — | — |
| Total shareholders' equity | $3.1M | $1.5M | $2.1M | $2.8M | $4.0M | $3.6M | $1.6M | $2.2M | $2.7M | $3.0M | $704,000 | $1.2M |
| Key figures | ||||||||||||
| Total debt | $2.3M | $2.5M | $2.6M | $2.8M | $3.0M | $3.0M | $4.6M | $4.8M | $4.9M | $5.3M | $7.7M | $7.7M |
| Net cash (debt) | $3.6M | $1.5M | $243,000 | −$256,000 | −$601,000 | −$603,000 | −$3.4M | −$3.1M | −$3.2M | −$3.7M | −$5.3M | −$5.2M |
| Working capital | $383,000 | −$1.2M | −$671,000 | −$81,000 | $154,000 | $270,000 | −$1.6M | −$1.1M | −$400,000 | −$200,000 | −$2.6M | −$2.1M |
| Tangible book value | $3.0M | $1.4M | $2.0M | $2.7M | $3.9M | $3.5M | $1.5M | $2.1M | $2.6M | $2.9M | $604,000 | $1.1M |
| Book value per share | $0.37 | $0.18 | $0.25 | $0.34 | $0.55 | $0.50 | $0.22 | $0.31 | $0.38 | $0.62 | $0.14 | $0.23 |
| Shares outstanding | 8.3M | 8.2M | 8.2M | 8.2M | 7.2M | 7.2M | 7.2M | 7.2M | 7.2M | 4.9M | 4.9M | 4.9M |
| Current ratio | 1.03 | 0.91 | 0.94 | 0.99 | 1.01 | 1.02 | 0.77 | 0.85 | 0.94 | 0.97 | 0.74 | 0.78 |
| Quick ratio | 0.61 | 0.41 | 0.44 | 0.54 | 0.15 | 0.15 | 0.21 | 0.30 | 0.35 | 0.36 | 0.33 | 0.35 |
| Debt / equity | 0.76 | 1.67 | 1.28 | 1.02 | 0.76 | 0.83 | 2.93 | 2.19 | 1.81 | 1.74 | 10.87 | 6.72 |
| Equity / assets | 17.6% | 9.2% | 14.5% | 17.8% | 17.2% | 15.5% | 15.2% | 19.8% | 23.6% | 25.3% | 5.3% | 8.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 28, 2025); data from EODHD.
LEDS financial position
At the end of fiscal 2025 (August 31, 2025), SemiLEDs had total assets of $15.6 million (up 40.0% from a year earlier), total liabilities of $12.8 million and shareholders' equity of $2.8 million. It held $2.6 million in cash and short-term investments against $2.8 million of debt, net debt of $0.3 million. Its current ratio was 0.99. In the latest quarter (ended May 31, 2026) total assets were $17.5 million and equity $3.1 million.
Related: LEDS income statement, LEDS cash flow statement, LEDS key metrics. See the LEDS stock overview for the latest quote and news.
LEDS balance sheet FAQ
What are SemiLEDs's total assets?
SemiLEDs reported total assets of $15.6 million at the end of fiscal 2025 (August 31, 2025), compared with $11.1 million a year earlier.
How much debt does SemiLEDs have?
SemiLEDs had $2.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.02.
How much cash does SemiLEDs have?
SemiLEDs held $2.6 million in cash and short-term investments at the end of fiscal 2025; with $2.8 million of debt that is net debt of $0.3 million.
What is SemiLEDs's book value?
SemiLEDs's shareholders' equity (book value) was $2.8 million at the end of fiscal 2025, or $0.36 per share.
What is SemiLEDs's current ratio?
SemiLEDs had current assets of $11.3 million and current liabilities of $11.4 million, a current ratio of 0.99 (current liabilities exceed current assets).
How much goodwill does SemiLEDs have?
SemiLEDs carried $0.1 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.