Natural Alternatives International, Inc. (NAII) Balance Sheet
NAII balance sheet, FY2026
June 30, 2026 · U.S. dollars$126.4M assets = $76.5M liabilities + $50.0M equity
Both columns are drawn to the same scale: what NAII owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NAII financial health
Current ratio1.73
Comfortable · current assets cover current liabilities 1.73×
Debt / equity1.00
Moderate leverage · $1.00 of debt for each $1 of equity
Equity / assets39.5%
Balanced · of assets funded by shareholders
Cash / debt14.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal FY2026.
NAII balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $72.6MFY2017 | $126.4MFY2026 | +6.4%/yr | |
| Total liabilities | $11.5MFY2017 | $76.5MFY2026 | +23.5%/yr | |
| Shareholders’ equity | $61.1MFY2017 | $50.0MFY2026 | −2.2%/yr | |
| Cash & short-term investments | $27.8MFY2017 | $7.4MFY2026 | −13.7%/yr | |
| Total debt | $28.8MFY2020 | $50.0MFY2026 | +9.6%/yr | |
| Net cash (debt) | $1.7MFY2020 | −$42.6MFY2026 | −$44.3M | |
| Working capital | $41.4MFY2017 | $27.7MFY2026 | −$13.7M | |
| Book value per share | $9.19FY2017 | $8.29FY2026 | −1.1%/yr | |
| Current ratio | 5.03FY2017 | 1.73FY2026 | −3.30 | |
| Debt / equity | 0.40FY2020 | 1.00FY2026 | +0.60 | |
| Shares outstanding | 6.7MFY2017 | 6.0MFY2026 | −1.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NAII assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NAII liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NAII debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NAII balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $7.4M | $12.3M | $12.0M | $13.6M | $21.8M | $32.1M | $30.5M | $25.0M | $23.6M | $27.8M |
| Cash & equivalents | $7.4M | $12.3M | $12.0M | $13.6M | $21.8M | $32.1M | $30.5M | $25.0M | $23.6M | $27.8M |
| Short-term investments | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $20.6M | $14.9M | $16.9M | $7.3M | $17.5M | $19.0M | $17.8M | $16.9M | $14.6M | $8.7M |
| Inventory | $30.8M | $24.9M | $24.2M | $29.7M | $32.5M | $27.0M | $28.0M | $26.0M | $23.6M | $13.7M |
| Other current assets | $6.6M | $7.2M | $8.5M | $6.4M | $4.9M | $2.2M | $2.7M | $3.5M | $3.4M | $1.5M |
| Total current assets | $65.4M | $59.3M | $61.6M | $57.0M | $76.7M | $80.3M | $79.0M | $71.4M | $65.2M | $51.7M |
| Property, plant & equipment (net) | $59.7M | $91.9M | $95.7M | $74.2M | $66.3M | $38.1M | $39.9M | $21.1M | $19.3M | $18.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.3M | $719,000 | $5.0M | $2.9M | $3.0M | $1.8M | $1.3M | $1.0M | $734,000 | $2.8M |
| Total assets | $126.4M | $151.9M | $162.3M | $134.2M | $146.0M | $120.3M | $120.2M | $93.5M | $85.2M | $72.6M |
| Liabilities | ||||||||||
| Accounts payable | $18.1M | $15.4M | $12.7M | $7.8M | $16.2M | $11.9M | $12.5M | $8.6M | $9.6M | $5.1M |
| Short-term debt | $11.2M | $4.4M | $4.9M | $2.8M | $936,000 | $9.3M | $10.0M | — | — | — |
| Deferred revenue | $1.3M | $1.4M | $302,000 | $317,000 | $140,000 | $1.7M | $62,000 | — | — | — |
| Total current liabilities | $37.7M | $28.8M | $23.5M | $15.9M | $23.9M | $22.1M | $27.8M | $14.2M | $14.3M | $10.3M |
| Long-term debt | $0 | $8.6M | $8.9M | $9.2M | $9.5M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $48.2M | $47.7M | $21.4M | $22.0M | $16.5M | $18.8M | — | — | — |
| Other long-term liabilities | $38.8M | $46.1M | $47.3M | $20.3M | $24.1M | $18.1M | $21.0M | $3.2M | $2.7M | $1.2M |
| Total liabilities | $76.5M | $83.5M | $79.7M | $45.4M | $57.5M | $40.2M | $48.8M | $17.4M | $17.0M | $11.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $94,000 | $93,000 | $93,000 | $91,000 | $89,000 | $88,000 | $87,000 | $87,000 | $85,000 | $79,000 |
| Retained earnings (deficit) | $38.7M | $59.4M | $73.0M | $80.2M | $77.7M | $66.9M | $56.2M | $57.4M | $50.8M | $45.8M |
| Treasury stock | — | — | — | — | — | — | −$11.7M | −$8.0M | −$6.6M | −$6.1M |
| Accumulated other comprehensive income | $299,000 | −$1.4M | −$22,000 | −$83,000 | $1.7M | −$561,000 | −$1.2M | $292,000 | −$578,000 | −$905,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $50.0M | $68.4M | $82.6M | $88.8M | $88.5M | $80.1M | $71.4M | $76.1M | $68.2M | $61.1M |
| Key figures | ||||||||||
| Total debt | $50.0M | $59.0M | $60.3M | $30.9M | $31.8M | $16.5M | $28.8M | — | — | — |
| Net cash (debt) | −$42.6M | −$46.7M | −$48.3M | −$17.3M | −$10.0M | $15.7M | $1.7M | — | — | — |
| Working capital | $27.7M | $30.5M | $38.1M | $41.1M | $52.9M | $58.3M | $51.2M | $57.1M | $50.9M | $41.4M |
| Tangible book value | $50.0M | $68.4M | $82.6M | $88.8M | $88.5M | $80.1M | $71.4M | $76.1M | $68.2M | $61.1M |
| Book value per share | $8.29 | $11.51 | $14.07 | $15.10 | $14.38 | $12.55 | $10.66 | $10.72 | $9.91 | $9.19 |
| Shares outstanding | 6.0M | 5.9M | 5.9M | 5.9M | 6.2M | 6.4M | 6.7M | 7.1M | 6.9M | 6.7M |
| Current ratio | 1.73 | 2.06 | 2.63 | 3.59 | 3.21 | 3.64 | 2.84 | 5.01 | 4.56 | 5.03 |
| Quick ratio | 0.74 | 0.95 | 1.23 | 1.32 | 1.65 | 2.32 | 1.74 | 2.94 | 2.68 | 3.56 |
| Debt / equity | 1.00 | 0.86 | 0.73 | 0.35 | 0.36 | 0.21 | 0.40 | — | — | — |
| Equity / assets | 39.5% | 45.0% | 50.9% | 66.2% | 60.6% | 66.6% | 59.4% | 81.4% | 80.1% | 84.2% |
| 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 | $7.4M | $9.2M | $3.8M | $7.7M | $12.3M | $10.6M | $8.7M | $10.2M | $12.0M | $12.4M | $16.6M | $16.7M |
| Cash & equivalents | $7.4M | $9.2M | $3.8M | $7.7M | $12.3M | $10.6M | $8.7M | $10.2M | $12.0M | $12.4M | $16.6M | $16.7M |
| Receivables | $20.6M | $20.6M | $17.9M | $19.1M | $14.9M | $13.0M | $17.8M | $17.6M | $16.9M | $12.9M | $11.3M | $10.1M |
| Inventory | $30.8M | $29.9M | $33.4M | $30.7M | $24.9M | $27.0M | $23.0M | $25.9M | $24.2M | $21.1M | $19.6M | $23.3M |
| Other current assets | $6.6M | $4.3M | $6.4M | $7.6M | $7.2M | $7.9M | $9.0M | $8.8M | $8.5M | $8.0M | $6.9M | $7.6M |
| Total current assets | $65.4M | $64.0M | $61.5M | $65.1M | $59.3M | $58.5M | $58.5M | $62.5M | $61.6M | $54.4M | $54.4M | $57.8M |
| Property, plant & equipment (net) | $59.7M | $89.9M | $91.0M | $91.2M | $91.9M | $92.2M | $93.2M | $94.0M | $95.7M | $96.4M | $98.2M | $99.6M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.3M | $942,000 | $749,000 | $686,000 | $719,000 | $4.2M | $4.3M | $4.8M | $5.0M | $2.4M | $3.1M | $2.9M |
| Total assets | $126.4M | $154.9M | $153.3M | $156.9M | $151.9M | $154.9M | $156.1M | $161.3M | $162.3M | $153.2M | $155.7M | $160.3M |
| Liabilities | ||||||||||||
| Accounts payable | $18.1M | $18.2M | $16.5M | $20.1M | $15.4M | $12.8M | $8.6M | $9.9M | $12.7M | $7.0M | $7.5M | $7.6M |
| Short-term debt | $11.2M | $12.7M | $8.4M | $5.0M | $4.4M | $4.3M | $7.2M | $7.7M | $4.9M | $1.4M | $1.5M | $1.4M |
| Deferred revenue | — | $1.3M | $1.2M | — | $1.4M | $1.5M | $1.2M | $636,000 | $302,000 | $387,000 | $695,000 | $405,000 |
| Total current liabilities | $37.7M | $39.1M | $32.8M | $33.9M | $28.8M | $23.3M | $21.6M | $24.4M | $23.5M | $13.6M | $13.4M | $15.4M |
| Long-term debt | $0 | $8.4M | $8.5M | $8.6M | $8.6M | $8.7M | $8.8M | $8.9M | $8.9M | $9.0M | $9.1M | $9.2M |
| Lease obligations | — | $46.5M | $47.1M | $47.6M | $48.2M | $47.4M | $47.6M | $48.9M | $47.7M | $46.6M | $47.9M | $46.9M |
| Other long-term liabilities | $53.3M | $44.3M | $44.9M | $45.5M | $46.1M | $46.3M | $46.6M | $47.8M | $47.3M | $46.5M | $47.8M | $46.8M |
| Total liabilities | $76.5M | $91.8M | $86.3M | $87.9M | $83.5M | $78.3M | $77.0M | $81.1M | $79.7M | $69.1M | $70.3M | $71.4M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $94,000 | $94,000 | $93,000 | $93,000 | $93,000 | $93,000 | $93,000 | $93,000 | $93,000 | $93,000 | $91,000 | $91,000 |
| Retained earnings (deficit) | $38.7M | $52.2M | $56.5M | $59.1M | $59.4M | $66.6M | $68.8M | $71.0M | $73.0M | $74.8M | $76.4M | $79.5M |
| Accumulated other comprehensive income | $299,000 | $15,000 | −$301,000 | −$701,000 | −$1.4M | −$261,000 | $152,000 | −$718,000 | −$22,000 | −$118,000 | −$242,000 | $353,000 |
| Total shareholders' equity | $50.0M | $63.1M | $67.0M | $69.0M | $68.4M | $76.6M | $79.1M | $80.2M | $82.6M | $84.1M | $85.5M | $88.8M |
| Key figures | ||||||||||||
| Total debt | $50.0M | $65.2M | $106.5M | $104.3M | $59.0M | $58.4M | $61.7M | $63.4M | $60.3M | $55.9M | $57.3M | $56.4M |
| Net cash (debt) | −$42.6M | −$56.0M | −$102.8M | −$96.5M | −$46.7M | −$47.8M | −$53.0M | −$53.3M | −$48.3M | −$43.5M | −$40.7M | −$39.6M |
| Working capital | $27.7M | $24.9M | $28.7M | $31.2M | $30.5M | $35.2M | $36.9M | $38.0M | $38.1M | $40.7M | $41.0M | $42.3M |
| Tangible book value | $50.0M | $63.1M | $67.0M | $69.0M | $68.4M | $76.6M | $79.1M | $80.2M | $82.6M | $84.1M | $85.5M | $88.8M |
| Book value per share | $8.23 | $10.47 | $11.16 | $11.49 | $11.08 | $12.89 | $13.37 | $13.55 | $13.96 | $14.33 | $14.61 | $15.18 |
| Shares outstanding | 6.1M | 6.0M | 6.0M | 6.0M | 6.2M | 5.9M | 5.9M | 5.9M | 5.9M | 5.9M | 5.9M | 5.9M |
| Current ratio | 1.73 | 1.64 | 1.87 | 1.92 | 2.06 | 2.51 | 2.70 | 2.56 | 2.63 | 3.98 | 4.06 | 3.74 |
| Quick ratio | 0.74 | 0.76 | 0.66 | 0.79 | 0.95 | 1.01 | 1.22 | 1.14 | 1.23 | 1.85 | 2.08 | 1.74 |
| Debt / equity | 1.00 | 1.03 | 1.59 | 1.51 | 0.86 | 0.76 | 0.78 | 0.79 | 0.73 | 0.66 | 0.67 | 0.63 |
| Equity / assets | 39.5% | 40.7% | 43.7% | 44.0% | 45.0% | 49.4% | 50.7% | 49.7% | 50.9% | 54.9% | 54.9% | 55.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed September 28, 2026); data from EODHD.
NAII financial position
At the end of fiscal 2026 (June 30, 2026), Natural Alternatives International had total assets of $126.4 million (down 16.8% from a year earlier), total liabilities of $76.5 million and shareholders' equity of $50.0 million. It held $7.4 million in cash and short-term investments against $50.0 million of debt, net debt of $42.6 million. Its current ratio was 1.73.
Related: NAII income statement, NAII cash flow statement, NAII key metrics. See the NAII stock overview for the latest quote and news.
NAII balance sheet FAQ
What are Natural Alternatives International's total assets?
Natural Alternatives International reported total assets of $126.4 million at the end of fiscal 2026 (June 30, 2026), compared with $151.9 million a year earlier.
How much debt does Natural Alternatives International have?
Natural Alternatives International had $50.0 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 1.00.
How much cash does Natural Alternatives International have?
Natural Alternatives International held $7.4 million in cash and short-term investments at the end of fiscal 2026; with $50.0 million of debt that is net debt of $42.6 million.
What is Natural Alternatives International's book value?
Natural Alternatives International's shareholders' equity (book value) was $50.0 million at the end of fiscal 2026, or $8.29 per share.
What is Natural Alternatives International's current ratio?
Natural Alternatives International had current assets of $65.4 million and current liabilities of $37.7 million, a current ratio of 1.73 (it can cover its short-term obligations).