Largo Inc. (LGO) Balance Sheet
LGO balance sheet, 2025
December 31, 2025 · U.S. dollars$318.8M assets = $182.2M liabilities + $136.5M equity
Both columns are drawn to the same scale: what LGO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
LGO financial health
Current ratio0.51
Tight · current assets cover current liabilities 0.51×
Equity / assets40.9%
Equity-funded · of assets funded by shareholders
Goodwill & intangibles0.4%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
LGO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $262.8M2016 | $318.8M2025 | +2.2%/yr | |
| Total liabilities | $242.9M2016 | $182.2M2025 | −3.1%/yr | |
| Shareholders’ equity | $20.0M2016 | $130.4M2025 | +23.2%/yr | |
| Cash & short-term investments | $563,9462016 | $9.7M2025 | +37.2%/yr | |
| Total debt | $205.5M2016 | $17.5M2024 | −26.5%/yr | |
| Net cash (debt) | −$205.0M2016 | $4.6M2024 | +$209.6M | |
| Working capital | −$46.0M2016 | −$75.9M2025 | −$29.9M | |
| Book value per share | $0.522016 | $1.922025 | +15.7%/yr | |
| Current ratio | 0.342016 | 0.512025 | +0.16 | |
| Debt / equity | 10.302016 | 0.112024 | −10.19 | |
| Shares outstanding | 38.7M2016 | 68.1M2025 | +6.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
LGO assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
LGO liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
LGO debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
LGO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $9.7M | $22.1M | $43.2M | $54.5M | $83.8M | $79.1M | $128.1M | $151.4M | $43.5M | $563,946 |
| Cash & equivalents | $9.7M | $22.1M | $43.2M | $54.5M | $83.8M | $79.1M | $128.1M | $151.4M | $43.5M | $563,946 |
| Receivables | $11.1M | $9.7M | $25.5M | $21.0M | $23.7M | $19.1M | $6.2M | $45.9M | $8.9M | $12.9M |
| Inventory | $49.5M | $47.5M | $61.3M | $64.2M | $45.3M | $35.3M | $21.3M | $10.6M | $14.0M | $8.2M |
| Other current assets | $7.8M | $13.9M | $6.5M | $14.5M | $7.2M | $3.7M | $1.6M | $2.5M | $4.5M | $2.3M |
| Total current assets | $78.0M | $93.3M | $136.4M | $154.1M | $160.0M | $137.3M | $157.3M | $210.3M | $70.9M | $24.0M |
| Property, plant & equipment (net) | $191.9M | $170.7M | $211.1M | $175.2M | $146.7M | $149.0M | $191.5M | $181.7M | $224.4M | $238.9M |
| Goodwill & intangible assets | $1.4M | $2.3M | $6.1M | $7.3M | $3.9M | $4.4M | $0 | $0 | $0 | $0 |
| Long-term investments | $4.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $42.8M | $52.5M | $42.8M | $19.1M | $3.3M | $7.2M | $22.9M | $13.9M | $0 | $1 |
| Total assets | $318.8M | $318.7M | $396.4M | $355.8M | $313.9M | $297.8M | $371.7M | $405.9M | $295.3M | $262.8M |
| Liabilities | ||||||||||
| Accounts payable | $17.7M | $21.6M | $31.3M | $26.6M | $14.1M | $12.3M | $75.5M | $17.7M | $21.2M | $18.5M |
| Short-term debt | — | — | $596,930 | $4.6M | $15.6M | $24.8M | — | $117.4M | $58.2M | $36.8M |
| Deferred revenue | $3.5M | $3.9M | $3.5M | $1.7M | $5.5M | $3.2M | — | $3.8M | $431,013 | $241,797 |
| Total current liabilities | $153.9M | $114.3M | $42.2M | $39.0M | $41.7M | $44.3M | $78.6M | $151.2M | $97.2M | $70.0M |
| Long-term debt | $0 | $17.5M | $75.0M | $36.0M | $0 | $0 | $0 | $0 | $133.5M | $0 |
| Lease obligations | — | $0 | $1.5M | $2.1M | $2.5M | $0 | — | — | — | — |
| Other long-term liabilities | $28.3M | $27.8M | $24.7M | $6.2M | $6.5M | $6.3M | $19.7M | $6.5M | $5.5M | $172.9M |
| Total liabilities | $182.2M | $147.4M | $141.9M | $81.2M | $48.2M | $50.6M | $98.3M | $117.5M | $236.2M | $242.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $423.3M | $412.7M | $410.2M | $411.6M | $416.0M | $406.2M | $337.7M | $415.3M | $400.7M | $266.7M |
| Retained earnings (deficit) | −$187.3M | −$126.5M | −$77.2M | −$48.2M | −$49.3M | −$71.9M | −$49.4M | −$53.1M | −$275.5M | −$255.7M |
| Accumulated other comprehensive income | −$123.4M | −$133.5M | −$85.6M | −$112.2M | −$118.8M | −$108.4M | −$14.9M | $6.9M | $20.1M | −$8.8M |
| Minority interest | $6.2M | $6.4M | $7.1M | $9.2M | — | — | — | — | — | — |
| Total shareholders' equity | $130.4M | $164.8M | $247.4M | $265.4M | $265.7M | $247.2M | $273.4M | $392.7M | $59.1M | $20.0M |
| Key figures | ||||||||||
| Total debt | — | $17.5M | $76.1M | $42.1M | $17.6M | $24.8M | — | $86.2M | $191.7M | $205.5M |
| Net cash (debt) | — | $4.6M | −$32.9M | $12.4M | $66.2M | $54.4M | — | $65.2M | −$148.1M | −$205.0M |
| Working capital | −$75.9M | −$21.0M | $94.2M | $115.2M | $118.3M | $93.0M | $78.7M | $59.1M | −$26.3M | −$46.0M |
| Tangible book value | $128.9M | $162.6M | $241.3M | $258.1M | $261.8M | $242.8M | $273.4M | $392.7M | $59.1M | $20.0M |
| Book value per share | $1.92 | $2.57 | $3.86 | $4.12 | $4.08 | $4.03 | $5.11 | $6.11 | $1.26 | $0.52 |
| Shares outstanding | 68.1M | 64.1M | 64.0M | 64.4M | 65.0M | 61.4M | 53.5M | 64.2M | 46.8M | 38.7M |
| Current ratio | 0.51 | 0.82 | 3.23 | 3.96 | 3.84 | 3.10 | 2.00 | 1.39 | 0.73 | 0.34 |
| Quick ratio | 0.14 | 0.28 | 1.63 | 1.94 | 2.58 | 2.22 | 1.71 | 1.30 | 0.54 | 0.19 |
| Debt / equity | — | 0.11 | 0.31 | 0.16 | 0.07 | 0.10 | — | 0.22 | 3.24 | 10.30 |
| Equity / assets | 40.9% | 51.7% | 62.4% | 74.6% | 84.6% | 83.0% | 73.6% | 96.8% | 20.0% | 7.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $5.5M | $11.6M | $9.7M | $8.2M | $5.6M | $8.4M | $22.6M | $30.4M | $49.0M | $61.8M | $43.2M | $39.6M |
| Cash & equivalents | $5.5M | $11.6M | $9.7M | $8.2M | $5.6M | $8.4M | $22.6M | $30.4M | $49.0M | $61.8M | $43.2M | $39.6M |
| Receivables | $14.1M | $10.1M | $3.4M | $18.7M | $17.3M | $17.8M | $9.7M | $13.1M | $15.7M | $14.3M | $25.5M | $28.2M |
| Inventory | $58.4M | $58.1M | $49.5M | $45.9M | $41.7M | $36.4M | $47.5M | $60.3M | $64.9M | $65.4M | $61.3M | $62.6M |
| Other current assets | $13.1M | $9.1M | $15.4M | $4.9M | $7.2M | $6.9M | $13.4M | $12.8M | $25.1M | $14.8M | $6.5M | $6.7M |
| Total current assets | $91.1M | $89.0M | $78.0M | $77.7M | $71.8M | $69.6M | $93.2M | $116.7M | $154.7M | $156.4M | $136.4M | $137.2M |
| Property, plant & equipment (net) | $201.4M | $200.3M | $191.9M | $202.7M | $199.2M | $186.3M | $170.7M | $189.2M | $281.3M | $307.5M | $211.1M | $201.1M |
| Goodwill & intangible assets | $991,808 | $1.2M | $1.4M | $1.6M | $1.8M | $2.0M | $2.3M | $2.5M | $3.7M | $7.9M | $6.1M | $6.5M |
| Long-term investments | $4.5M | $5.8M | $4.6M | $7.0M | $8.6M | $10.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $47.8M | $48.6M | $42.8M | $33.0M | $59.1M | $56.3M | $64.5M | $35.4M | $21.5M | $17.1M | $42.8M | $27.6M |
| Total assets | $345.8M | $345.0M | $318.8M | $322.0M | $340.5M | $324.2M | $330.6M | $343.7M | $461.1M | $488.9M | $396.4M | $372.2M |
| Liabilities | ||||||||||||
| Accounts payable | $19.9M | $17.4M | $17.7M | $28.2M | $28.0M | $29.5M | $21.6M | $31.7M | $38.6M | $41.1M | $31.3M | $26.7M |
| Short-term debt | $114.1M | $108.7M | — | $95.9M | $81.5M | $78.4M | $74.7M | $26.2M | $18.4M | $5.9M | $596,930 | $595,000 |
| Deferred revenue | $5.8M | $7.7M | — | $2.9M | $3.6M | $2.6M | $3.9M | $3.9M | $3.6M | $2.8M | $3.5M | $3.5M |
| Total current liabilities | $170.3M | $162.1M | $153.9M | $156.5M | $141.2M | $124.3M | $114.2M | $70.0M | $72.8M | $60.5M | $42.2M | $46.1M |
| Long-term debt | $0 | $0 | $0 | $10.0M | $13.8M | $13.8M | $17.5M | $67.5M | $71.2M | $71.2M | $75.0M | $57.0M |
| Lease obligations | — | — | — | — | — | — | $0 | $0 | $0 | $1.4M | $1.5M | $1.7M |
| Other long-term liabilities | $36.3M | $26.8M | $28.3M | $19.3M | $16.2M | $15.8M | $27.8M | $6.4M | $34.6M | $35.5M | $24.7M | $6.3M |
| Total liabilities | $206.6M | $188.9M | $182.2M | $185.8M | $171.1M | $153.9M | $159.5M | $143.8M | $178.6M | $167.3M | $141.9M | $109.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $448.8M | $444.3M | — | $412.8M | $413.2M | $413.0M | $412.7M | $413.0M | $565.1M | $558.5M | $410.2M | $412.3M |
| Retained earnings (deficit) | −$214.6M | −$194.0M | −$187.3M | −$176.5M | −$140.3M | −$134.7M | −$126.4M | −$113.6M | −$142.3M | −$121.6M | −$77.2M | −$65.7M |
| Accumulated other comprehensive income | −$101.8M | −$102.0M | — | −$106.2M | −$120.7M | −$125.3M | −$121.6M | −$117.7M | −$149.7M | −$124.9M | −$85.6M | −$104.2M |
| Minority interest | $7.0M | $7.7M | $6.2M | $6.1M | $6.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $132.3M | $148.3M | $130.4M | $130.1M | $163.2M | $164.1M | $164.7M | $193.4M | $273.0M | $311.9M | $247.4M | $254.4M |
| Key figures | ||||||||||||
| Total debt | $114.1M | $108.7M | — | $105.9M | $13.8M | $13.8M | $92.2M | $93.7M | $115.9M | $103.5M | $76.1M | $58.7M |
| Net cash (debt) | −$108.6M | −$97.1M | — | −$97.7M | −$8.1M | −$5.3M | −$69.6M | −$63.3M | −$66.9M | −$41.6M | −$32.9M | −$19.1M |
| Working capital | −$79.2M | −$73.1M | −$75.9M | −$78.8M | −$69.4M | −$54.7M | −$21.0M | $46.7M | $81.9M | $95.9M | $94.2M | $91.0M |
| Tangible book value | $131.3M | $147.1M | $128.9M | $128.5M | $161.4M | $162.1M | $162.5M | $190.9M | $269.4M | $304.0M | $241.3M | $247.9M |
| Book value per share | $1.28 | $1.65 | $1.56 | $2.03 | $2.55 | $2.56 | $2.57 | $3.02 | $4.26 | $4.87 | $3.86 | $3.97 |
| Shares outstanding | 103.1M | 89.9M | 83.7M | 64.1M | 64.1M | 64.1M | 64.1M | 64.1M | 64.1M | 64.1M | 64.1M | 64.0M |
| Current ratio | 0.54 | 0.55 | 0.51 | 0.50 | 0.51 | 0.56 | 0.82 | 1.67 | 2.13 | 2.58 | 3.23 | 2.97 |
| Quick ratio | 0.12 | 0.13 | 0.09 | 0.17 | 0.16 | 0.21 | 0.28 | 0.62 | 0.89 | 1.26 | 1.63 | 1.47 |
| Debt / equity | 0.86 | 0.73 | — | 0.81 | 0.08 | 0.08 | 0.56 | 0.48 | 0.42 | 0.33 | 0.31 | 0.23 |
| Equity / assets | 38.3% | 43.0% | 40.9% | 40.4% | 47.9% | 50.6% | 49.8% | 56.3% | 59.2% | 63.8% | 62.4% | 68.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 1, 2026); data from EODHD.
LGO financial position
At the end of fiscal 2025 (December 31, 2025), Largo had total assets of $318.8 million (up 0.0% from a year earlier), total liabilities of $182.2 million and shareholders' equity of $130.4 million. Its current ratio was 0.51. In the latest quarter (ended June 30, 2026) total assets were $345.8 million and equity $132.3 million.
Related: LGO income statement, LGO cash flow statement, LGO key metrics. See the LGO stock overview for the latest quote and news.
LGO balance sheet FAQ
What are Largo's total assets?
Largo reported total assets of $318.8 million at the end of fiscal 2025 (December 31, 2025), compared with $318.7 million a year earlier.
How much cash does Largo have?
Largo held $9.7 million in cash and short-term investments at the end of fiscal 2025.
What is Largo's book value?
Largo's shareholders' equity (book value) was $130.4 million at the end of fiscal 2025, or $1.92 per share.
What is Largo's current ratio?
Largo had current assets of $78.0 million and current liabilities of $153.9 million, a current ratio of 0.51 (current liabilities exceed current assets).
How much goodwill does Largo have?
Largo carried $1.4 million of goodwill and intangible assets, 0.4% of total assets, at the end of fiscal 2025.