Legence Corp. (LGN) Balance Sheet
LGN balance sheet, 2025
December 31, 2025 · U.S. dollars$2.68B assets = $1.89B liabilities + $788.8M equity
Both columns are drawn to the same scale: what LGN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LGN financial health
Descriptive bands, not a rating. Fiscal 2025.
LGN balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.13B2023 | $2.68B2025 | +12.3%/yr | |
| Total liabilities | $1.60B2023 | $1.89B2025 | +8.6%/yr | |
| Shareholders’ equity | $522.9M2023 | $392.2M2025 | −13.4%/yr | |
| Cash & short-term investments | $88.9M2023 | $230.2M2025 | +60.9%/yr | |
| Total debt | $1.12B2023 | $954.2M2025 | −7.6%/yr | |
| Net cash (debt) | −$1.03B2023 | −$724.0M2025 | +$305.8M | |
| Working capital | $249.1M2023 | $402.2M2025 | +$153.1M | |
| Book value per share | $8.942023 | $6.602025 | −14.0%/yr | |
| Current ratio | 1.572023 | 1.572025 | 0.00 | |
| Debt / equity | 2.142023 | 2.432025 | +0.29 | |
| Shares outstanding | 58.5M2023 | 59.4M2025 | +0.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LGN assets
LGN liabilities and equity
LGN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LGN balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $230.2M | $81.2M | $88.9M |
| Cash & equivalents | $230.2M | $81.2M | $88.9M |
| Receivables | $844.0M | $636.7M | $548.1M |
| Inventory | $11.3M | $10.2M | $10.0M |
| Other current assets | $24.9M | $28.3M | $41.7M |
| Total current assets | $1.11B | $756.4M | $688.7M |
| Property, plant & equipment (net) | $209.5M | $164.3M | $138.0M |
| Goodwill & intangible assets | $1.32B | $1.41B | $1.29B |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $43.8M | $26.3M | $5.3M |
| Total assets | $2.68B | $2.35B | $2.13B |
| Liabilities | |||
| Accounts payable | $246.2M | $126.5M | $107.4M |
| Short-term debt | $38.0M | $37.4M | $25.4M |
| Deferred revenue | $339.5M | $164.1M | $164.6M |
| Total current liabilities | $708.2M | $411.1M | $439.6M |
| Long-term debt | $1.02B | $1.59B | $1.04B |
| Lease obligations | $125.1M | $95.1M | $67.8M |
| Other long-term liabilities | $162.6M | $152.0M | $128.3M |
| Total liabilities | $1.89B | $2.15B | $1.60B |
| Shareholders' equity | |||
| Common stock & paid-in capital | $1.1M | $443.7M | $722.4M |
| Retained earnings (deficit) | −$309.9M | −$250.2M | −$221.6M |
| Accumulated other comprehensive income | −$698,000 | $9.1M | $22.2M |
| Minority interest | $396.6M | $912,000 | $0 |
| Total shareholders' equity | $392.2M | $202.7M | $522.9M |
| Key figures | |||
| Total debt | $954.2M | $1.70B | $1.12B |
| Net cash (debt) | −$724.0M | −$1.62B | −$1.03B |
| Working capital | $402.2M | $345.3M | $249.1M |
| Tangible book value | −$923.6M | −$1.20B | −$771.3M |
| Book value per share | $6.60 | $3.46 | $8.94 |
| Shares outstanding | 59.4M | 58.5M | 58.5M |
| Current ratio | 1.57 | 1.84 | 1.57 |
| Quick ratio | 1.52 | 1.75 | 1.45 |
| Debt / equity | 2.43 | 8.41 | 2.14 |
| Equity / assets | 14.6% | 8.6% | 24.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $292.0M | $244.6M | $230.2M | $176.0M | $98.1M | $89.1M | $81.2M |
| Cash & equivalents | $292.0M | $244.6M | $230.2M | $176.0M | $98.1M | $89.1M | $81.2M |
| Receivables | $1.30B | $827.3M | $844.0M | $822.7M | $702.6M | $614.7M | $636.7M |
| Inventory | $14.2M | $14.2M | $11.3M | $10.9M | $10.4M | $11.0M | $10.2M |
| Other current assets | $40.9M | $384.5M | $24.9M | $28.1M | $27.6M | $25.7M | $28.3M |
| Total current assets | $1.65B | $1.47B | $1.11B | $1.04B | $838.7M | $740.6M | $756.4M |
| Property, plant & equipment (net) | $283.9M | $259.2M | $209.5M | $187.6M | $175.3M | $167.8M | $164.3M |
| Goodwill & intangible assets | $1.61B | $1.69B | $1.32B | $1.35B | $1.36B | $1.39B | $1.41B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $192.9M | $68.1M | $43.8M | $29.6M | $47.2M | $35.0M | $26.3M |
| Total assets | $3.74B | $3.48B | $2.68B | $2.60B | $2.43B | $2.33B | $2.35B |
| Liabilities | |||||||
| Accounts payable | $429.0M | $350.3M | $246.2M | $224.3M | $172.1M | $122.5M | $126.5M |
| Short-term debt | $57.3M | $45.7M | $38.0M | $34.4M | $43.3M | $36.5M | $34.8M |
| Deferred revenue | — | — | — | — | $185.9M | $160.9M | $164.1M |
| Total current liabilities | $1.22B | $1.13B | $708.2M | $660.0M | $513.9M | $418.7M | $411.1M |
| Long-term debt | $1.01B | $1.01B | $1.02B | $812.6M | $907.5M | $1.58B | $1.59B |
| Lease obligations | $161.0M | $150.7M | $125.1M | $112.6M | $105.9M | $99.1M | $95.1M |
| Other long-term liabilities | $529.1M | $389.9M | $162.6M | $300.2M | $258.0M | $148.8M | $152.0M |
| Total liabilities | $2.76B | $2.53B | $1.89B | $1.77B | $1.68B | $2.15B | $2.15B |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $1.1M | $1.1M | $1.1M | $1.1M | $1.0M | $443.8M | $443.7M |
| Retained earnings (deficit) | −$321.7M | −$293.9M | −$309.9M | −$277.2M | −$284.1M | −$271.4M | −$250.2M |
| Accumulated other comprehensive income | $4.1M | $1.2M | −$698,000 | −$248,000 | $840,000 | $2.9M | $9.1M |
| Minority interest | $377.1M | $445.6M | $396.6M | $439.6M | $377.5M | — | — |
| Total shareholders' equity | $600.5M | $505.4M | $392.2M | $387.9M | $369.1M | $175.3M | $202.7M |
| Key figures | |||||||
| Total debt | $1.20B | $1.18B | $954.2M | $941.5M | $1.04B | $1.70B | $1.70B |
| Net cash (debt) | −$903.7M | −$933.1M | −$724.0M | −$765.5M | −$941.4M | −$1.61B | −$1.62B |
| Working capital | $423.5M | $337.2M | $402.2M | $377.8M | $324.7M | $321.9M | $345.3M |
| Tangible book value | −$1.01B | −$1.18B | −$923.6M | −$957.4M | −$995.9M | −$1.21B | −$1.20B |
| Book value per share | $7.90 | $8.49 | $6.58 | $6.63 | $6.31 | $3.00 | $3.68 |
| Shares outstanding | 76.0M | 59.6M | 59.6M | 58.5M | 58.5M | 58.5M | 55.0M |
| Current ratio | 1.35 | 1.30 | 1.57 | 1.57 | 1.63 | 1.77 | 1.84 |
| Quick ratio | 1.30 | 0.95 | 1.52 | 1.51 | 1.56 | 1.68 | 1.75 |
| Debt / equity | 1.99 | 2.33 | 2.43 | 2.43 | 2.82 | 9.72 | 8.41 |
| Equity / assets | 16.1% | 14.5% | 14.6% | 14.9% | 15.2% | 7.5% | 8.6% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 30, 2026); data from EODHD.
LGN financial position
At the end of fiscal 2025 (December 31, 2025), Legence had total assets of $2.7 billion (up 13.9% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $392.2 million. It held $230.2 million in cash and short-term investments against $954.2 million of debt, net debt of $724.0 million. Its current ratio was 1.57. In the latest quarter (ended June 30, 2026) total assets were $3.7 billion and equity $600.5 million.
Related: LGN income statement, LGN cash flow statement, LGN key metrics. See the LGN stock overview for the latest quote and news.
LGN balance sheet FAQ
What are Legence's total assets?
Legence reported total assets of $2.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.4 billion a year earlier.
How much debt does Legence have?
Legence had $954.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.43.
How much cash does Legence have?
Legence held $230.2 million in cash and short-term investments at the end of fiscal 2025; with $954.2 million of debt that is net debt of $724.0 million.
What is Legence's book value?
Legence's shareholders' equity (book value) was $392.2 million at the end of fiscal 2025, or $6.60 per share.
What is Legence's current ratio?
Legence had current assets of $1.1 billion and current liabilities of $708.2 million, a current ratio of 1.57 (it can cover its short-term obligations).
How much goodwill does Legence have?
Legence carried $1.3 billion of goodwill and intangible assets, 49.1% of total assets, at the end of fiscal 2025.