New Fortress Energy Inc. (NFE) Balance Sheet
NFE balance sheet, 2025
December 31, 2025 · U.S. dollars$10.56B assets = $10.25B liabilities + $309.6M equity
Both columns are drawn to the same scale: what NFE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NFE financial health
Descriptive bands, not a rating. Fiscal 2025.
NFE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $389.1M2016 | $10.56B2025 | +44.3%/yr | |
| Total liabilities | $99.7M2016 | $10.25B2025 | +67.3%/yr | |
| Shareholders’ equity | $289.4M2016 | $182.6M2025 | −5.0%/yr | |
| Cash & short-term investments | $180.7M2016 | $356.9M2025 | +7.9%/yr | |
| Total debt | $80.4M2016 | $8.57B2025 | +68.0%/yr | |
| Net cash (debt) | $100.3M2016 | −$8.21B2025 | −$8.3B | |
| Working capital | $187.4M2016 | −$7.34B2025 | −$7.5B | |
| Book value per share | $4.932016 | $32.792025 | +23.4%/yr | |
| Current ratio | 8.662016 | 0.152025 | −8.50 | |
| Debt / equity | 0.282016 | 46.922025 | +46.64 | |
| Shares outstanding | 58.8M2016 | 5.6M2025 | −23.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NFE assets
NFE liabilities and equity
NFE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NFE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $356.9M | $492.9M | $155.4M | $675.5M | $187.5M | $601.5M | $27.1M | $78.3M | $84.7M | $180.7M |
| Cash & equivalents | $356.9M | $492.9M | $155.4M | $675.5M | $187.5M | $601.5M | $27.1M | $78.3M | $84.7M | $180.7M |
| Short-term investments | — | — | −$155.4M | — | $18.9M | — | — | $1.6M | $1.2M | $108,000 |
| Receivables | $719.0M | $481.4M | $433.3M | $318.5M | $244.9M | $76.5M | $52.5M | $30.4M | $20.6M | $16.7M |
| Inventory | $119.4M | $103.2M | $113.7M | $39.1M | $37.2M | $22.9M | $63.4M | $16.0M | $11.2M | $7.7M |
| Other current assets | $112.8M | $532.6M | $277.6M | $354.1M | $115.3M | $61.1M | $68.0M | $29.2M | $38.5M | $6.8M |
| Total current assets | $1.31B | $1.61B | $980.0M | $1.39B | $584.9M | $762.0M | $211.1M | $153.8M | $155.0M | $211.9M |
| Property, plant & equipment (net) | $8.90B | $10.04B | $8.42B | $4.91B | $4.09B | $1.03B | $772.2M | $451.8M | $198.8M | $167.6M |
| Goodwill & intangible assets | $187.6M | $945.9M | $828.6M | $862.7M | $903.1M | $46.1M | $61.3M | $43.1M | $0 | $0 |
| Long-term investments | $0 | $0 | $145.5M | $392.3M | $1.18B | $7.0M | $2.5M | $3.7M | $6.3M | $3.4M |
| Other non-current assets | $161.3M | $275.6M | $129.1M | $149.8M | $112.4M | $67.8M | $76.6M | $47.2M | $21.1M | $6.2M |
| Total assets | $10.56B | $12.87B | $10.50B | $7.71B | $6.88B | $1.91B | $1.12B | $699.4M | $381.2M | $389.1M |
| Liabilities | ||||||||||
| Accounts payable | $731.6M | $473.7M | $549.5M | $80.4M | $68.1M | $21.3M | $11.6M | $43.2M | $6.4M | $5.3M |
| Short-term debt | $7.15B | $667.5M | $457.2M | $113.6M | $144.4M | $35.5M | — | $272.2M | $5.8M | $5.8M |
| Deferred revenue | $14.1M | $14.4M | $65.3M | $12.7M | $28.7M | $99.3M | — | $72.0M | $19.6M | $12.8M |
| Total current liabilities | $8.65B | $1.71B | $1.71B | $1.41B | $562.5M | $191.2M | $102.3M | $404.8M | $32.1M | $24.5M |
| Long-term debt | $1.11B | $8.36B | $6.51B | $4.48B | $3.76B | $1.24B | $619.1M | $737,000 | $69.4M | $74.6M |
| Lease obligations | $391.1M | $603.5M | $571.0M | $350.9M | $281.2M | $119.8M | — | — | — | — |
| Other long-term liabilities | $487.6M | $805.3M | $506.6M | $377.1M | $562.0M | $102.3M | $15.2M | $11.3M | $756,000 | $648,000 |
| Total liabilities | $10.25B | $10.87B | $8.72B | $6.26B | $4.88B | $1.53B | $736.5M | $416.8M | $102.3M | $99.7M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $2.8M | $2.7M | $2.0M | $2.1M | $2.1M | $1.7M | $130.7M | $426.7M | $406.6M | $336.7M |
| Retained earnings (deficit) | −$1.65B | $196.4M | $528.0M | $62.1M | −$132.4M | −$229.5M | −$45.8M | −$158.4M | −$80.3M | −$48.7M |
| Accumulated other comprehensive income | $54.1M | $3.1M | $71.5M | $55.4M | −$2.1M | $182,000 | −$30,000 | −$11,000 | $2.7M | $1.4M |
| Minority interest | $127.0M | $122.7M | $137.8M | $152.0M | $202.5M | $8.1M | $302.5M | — | — | — |
| Total shareholders' equity | $182.6M | $1.88B | $1.64B | $1.29B | $1.79B | $367.0M | $84.8M | $282.6M | $278.9M | $289.4M |
| Key figures | ||||||||||
| Total debt | $8.57B | $9.50B | $7.37B | $4.89B | $4.14B | $1.36B | $619.1M | $272.2M | $75.3M | $80.4M |
| Net cash (debt) | −$8.21B | −$9.01B | −$7.22B | −$4.22B | −$3.95B | −$757.8M | −$592.0M | −$193.9M | $9.5M | $100.3M |
| Working capital | −$7.34B | −$97.3M | −$726.3M | −$22.1M | $22.4M | $570.9M | $108.9M | −$251.0M | $122.9M | $187.4M |
| Tangible book value | −$4.9M | $930.6M | $811.5M | $427.2M | $888.5M | $320.9M | $23.5M | $239.6M | $278.9M | $289.4M |
| Book value per share | $32.79 | $429.15 | $397.15 | $307.31 | $444.11 | — | — | $4.16 | $4.29 | $4.93 |
| Shares outstanding | 5.6M | 4.4M | 4.1M | 4.2M | 4.0M | — | — | 67.9M | 65.0M | 58.8M |
| Current ratio | 0.15 | 0.94 | 0.57 | 0.98 | 1.04 | 3.99 | 2.06 | 0.38 | 4.83 | 8.66 |
| Quick ratio | 0.12 | 0.57 | 0.35 | 0.71 | 0.77 | 3.55 | 0.78 | 0.27 | 3.28 | 8.06 |
| Debt / equity | 46.92 | 5.06 | 4.50 | 3.79 | 2.31 | 3.70 | 7.30 | 0.96 | 0.27 | 0.28 |
| Equity / assets | 1.7% | 14.6% | 15.6% | 16.7% | 26.1% | 19.2% | 7.5% | 40.4% | 73.2% | 74.4% |
| 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 | $161.2M | $92.4M | $226.5M | $145.2M | $551.1M | $447.9M | $492.9M | $90.8M | $133.0M | $143.5M | $155.4M | $171.3M |
| Cash & equivalents | $161.2M | $92.4M | $226.5M | $145.2M | $551.1M | $447.9M | $492.9M | $90.8M | $133.0M | $143.5M | $155.4M | $171.3M |
| Receivables | $633.1M | $688.9M | $452.0M | $642.6M | $427.7M | $425.5M | $481.4M | $536.1M | $532.7M | $445.8M | $433.3M | $360.8M |
| Inventory | $119.8M | $152.9M | $119.4M | $109.3M | $74.0M | $66.7M | $103.2M | $88.1M | $141.7M | $186.6M | $113.7M | $103.3M |
| Other current assets | $495.1M | $224.5M | $530.8M | $435.1M | $429.7M | $533.7M | $532.6M | $319.0M | $317.0M | $263.0M | $277.6M | $230.7M |
| Total current assets | $1.41B | $1.16B | $1.33B | $1.33B | $1.48B | $1.47B | $1.61B | $1.03B | $1.12B | $1.04B | $980.0M | $866.2M |
| Property, plant & equipment (net) | $5.46B | $5.11B | $8.90B | $10.19B | $10.05B | $9.91B | $10.04B | $9.83B | $9.12B | $8.70B | $8.42B | $7.83B |
| Goodwill & intangible assets | $190.4M | $192.4M | $187.6M | $211.8M | $210.7M | $782.4M | $945.9M | $983.0M | $984.5M | $988.6M | $828.6M | $844.2M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $8.7M | $0 | $8.7M | $8.7M | $8.7M | $145.5M | $139.1M |
| Other non-current assets | $3.67B | $3.94B | $140.8M | $176.6M | $214.4M | $850.3M | $275.6M | $117.0M | $171.5M | $144.5M | $129.1M | $118.8M |
| Total assets | $10.73B | $10.39B | $10.56B | $11.91B | $11.96B | $13.03B | $12.87B | $11.97B | $11.41B | $10.88B | $10.50B | $9.80B |
| Liabilities | ||||||||||||
| Accounts payable | $608.4M | $634.7M | $731.6M | $632.8M | $578.8M | $655.1M | $473.7M | $819.5M | $572.7M | $524.5M | $549.5M | $892.9M |
| Short-term debt | $6.81B | $7.21B | — | $6.64B | $1.26B | $343.3M | $667.5M | $1.27B | $357.0M | $439.3M | $457.2M | $412.8M |
| Deferred revenue | — | $14.1M | — | $12.1M | $12.5M | $13.5M | $14.4M | $121.4M | $96.3M | $10.2M | $65.3M | $69.3M |
| Total current liabilities | $8.70B | $8.93B | $8.65B | $7.95B | $2.20B | $1.47B | $1.71B | $2.71B | $1.56B | $1.57B | $1.71B | $1.91B |
| Long-term debt | $2.13B | $1.11B | $1.11B | $2.34B | $7.81B | $8.93B | $8.36B | $6.86B | $7.39B | $6.73B | $6.51B | $5.90B |
| Lease obligations | $255.3M | $286.8M | $391.1M | $391.8M | $420.6M | $437.5M | $603.5M | $615.2M | $642.1M | $700.4M | $571.0M | $460.4M |
| Other long-term liabilities | $330.8M | $416.7M | $487.6M | $491.8M | $598.6M | $751.4M | $805.3M | $707.3M | $763.5M | $779.0M | $506.6M | $409.1M |
| Total liabilities | $11.16B | $10.45B | $10.25B | $10.78B | $10.61B | $11.16B | $10.87B | $10.28B | $9.72B | $9.08B | $8.72B | $8.22B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.9M | $2.9M | — | $2.8M | $2.7M | $2.7M | $2.7M | $2.0M | $2.0M | $2.0M | $2.0M | $2.0M |
| Retained earnings (deficit) | −$2.42B | −$2.05B | −$1.65B | −$858.1M | −$558.4M | −$3.8M | $196.4M | $438.5M | $450.9M | $561.4M | $528.0M | $331.3M |
| Accumulated other comprehensive income | $92.2M | $88.4M | — | $78.0M | $59.4M | $26.7M | $3.1M | $37.1M | $43.7M | $64.2M | $71.5M | $63.3M |
| Minority interest | $121.2M | $125.2M | $127.0M | $128.7M | $122.4M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$553.6M | −$180.2M | $182.6M | $995.4M | $1.23B | $1.75B | $1.88B | $1.56B | $1.56B | $1.67B | $1.64B | $1.44B |
| Key figures | ||||||||||||
| Total debt | $9.11B | $8.57B | $1.11B | $9.31B | $9.41B | $9.63B | $9.50B | $8.62B | $8.27B | $7.73B | $7.37B | $6.63B |
| Net cash (debt) | −$8.95B | −$8.48B | −$879.0M | −$9.16B | −$8.86B | −$9.18B | −$9.01B | −$8.53B | −$8.14B | −$7.58B | −$7.22B | −$6.46B |
| Working capital | −$7.29B | −$7.77B | −$7.32B | −$6.62B | −$718.8M | $26,000 | −$97.3M | −$1.68B | −$440.5M | −$528.1M | −$726.3M | −$1.05B |
| Tangible book value | −$744.0M | −$372.7M | −$4.9M | $783.6M | $1.02B | $966.1M | $930.6M | $580.6M | $575.5M | $682.7M | $811.5M | $591.9M |
| Book value per share | −$96.92 | −$31.54 | $32.09 | $177.04 | $224.10 | $319.52 | $431.20 | $374.29 | $378.91 | $405.70 | $398.93 | $350.21 |
| Shares outstanding | 5.7M | 5.7M | 5.7M | 5.6M | 5.5M | 5.5M | 4.4M | 4.2M | 4.1M | 4.1M | 4.1M | 4.1M |
| Current ratio | 0.16 | 0.13 | 0.15 | 0.17 | 0.67 | 1.00 | 0.94 | 0.38 | 0.72 | 0.66 | 0.57 | 0.45 |
| Quick ratio | 0.09 | 0.09 | 0.08 | 0.10 | 0.44 | 0.59 | 0.57 | 0.23 | 0.43 | 0.38 | 0.35 | 0.28 |
| Debt / equity | — | — | 6.05 | 9.35 | 7.65 | 5.51 | 5.06 | 5.52 | 5.30 | 4.62 | 4.50 | 4.62 |
| Equity / assets | −5.2% | −1.7% | 1.7% | 8.4% | 10.3% | 13.4% | 14.6% | 13.1% | 13.7% | 15.4% | 15.6% | 14.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 13, 2026); data from EODHD.
NFE financial position
At the end of fiscal 2025 (December 31, 2025), New Fortress Energy had total assets of $10.6 billion (down 18.0% from a year earlier), total liabilities of $10.2 billion and shareholders' equity of $182.6 million. It held $356.9 million in cash and short-term investments against $8.6 billion of debt, net debt of $8.2 billion. Its current ratio was 0.15. In the latest quarter (ended June 30, 2026) total assets were $10.7 billion and equity -$553.6 million.
Related: NFE income statement, NFE cash flow statement, NFE key metrics. See the NFE stock overview for the latest quote and news.
NFE balance sheet FAQ
What are New Fortress Energy's total assets?
New Fortress Energy reported total assets of $10.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $12.9 billion a year earlier.
How much debt does New Fortress Energy have?
New Fortress Energy had $8.6 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 46.92.
How much cash does New Fortress Energy have?
New Fortress Energy held $356.9 million in cash and short-term investments at the end of fiscal 2025; with $8.6 billion of debt that is net debt of $8.2 billion.
What is New Fortress Energy's book value?
New Fortress Energy's shareholders' equity (book value) was $182.6 million at the end of fiscal 2025, or $32.79 per share.
What is New Fortress Energy's current ratio?
New Fortress Energy had current assets of $1.3 billion and current liabilities of $8.7 billion, a current ratio of 0.15 (current liabilities exceed current assets).
How much goodwill does New Fortress Energy have?
New Fortress Energy carried $187.6 million of goodwill and intangible assets, 1.8% of total assets, at the end of fiscal 2025.