Northern Technologies International Corporation (NTIC) Balance Sheet
NTIC balance sheet, FY2025
August 31, 2025 · U.S. dollars$102.7M assets = $26.0M liabilities + $76.7M equity
Both columns are drawn to the same scale: what NTIC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NTIC financial health
Descriptive bands, not a rating. Fiscal FY2025.
NTIC balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $51.1MFY2016 | $102.7MFY2025 | +8.1%/yr | |
| Total liabilities | $4.0MFY2016 | $26.0MFY2025 | +23.2%/yr | |
| Shareholders’ equity | $44.5MFY2016 | $72.1MFY2025 | +5.5%/yr | |
| Cash & short-term investments | $5.6MFY2016 | $7.3MFY2025 | +2.8%/yr | |
| Total debt | $658,788FY2020 | $13.1MFY2025 | +82.0%/yr | |
| Net cash (debt) | $11.3MFY2020 | −$5.9MFY2025 | −$17.2M | |
| Working capital | $16.9MFY2016 | $20.4MFY2025 | +$3.5M | |
| Book value per share | $4.91FY2016 | $7.48FY2025 | +4.8%/yr | |
| Current ratio | 5.24FY2016 | 1.86FY2025 | −3.39 | |
| Debt / equity | 0.01FY2020 | 0.18FY2025 | +0.17 | |
| Shares outstanding | 9.1MFY2016 | 9.6MFY2025 | +0.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NTIC assets
NTIC liabilities and equity
NTIC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NTIC balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $7.3M | $5.0M | $5.4M | $5.3M | $7.7M | $11.9M | $9.4M | $7.5M | $10.1M | $5.6M |
| Cash & equivalents | $7.3M | $5.0M | $5.4M | $5.3M | $7.7M | $6.4M | $5.9M | $4.2M | $6.4M | $3.4M |
| Short-term investments | — | $25.37B | $23.68B | $5,590 | $4,634 | $5.5M | $3.6M | $3.3M | $3.8M | $2.2M |
| Receivables | $19.9M | $20.8M | $19.1M | $16.6M | $13.6M | $9.5M | $12.3M | $12.3M | $8.0M | $7.2M |
| Inventory | $15.5M | $14.4M | $13.1M | $16.3M | $11.1M | $11.0M | $10.5M | $9.1M | $7.5M | $7.7M |
| Other current assets | $1.7M | $1.4M | $2.0M | $2.0M | $1.3M | $797,495 | $1.1M | $1.7M | $439,299 | $422,031 |
| Total current assets | $44.3M | $41.6M | $39.7M | $40.2M | $33.7M | $33.2M | $33.3M | $30.6M | $26.1M | $20.9M |
| Property, plant & equipment (net) | $15.7M | $16.7M | $14.5M | $12.7M | $12.2M | $7.8M | $7.4M | $7.2M | $7.4M | $7.3M |
| Goodwill & intangible assets | $13.6M | $10.5M | $10.9M | $11.4M | $709,572 | $1.6M | $2.0M | $2.3M | $2.6M | $2.6M |
| Long-term investments | $28.6M | $25.4M | $23.7M | $21.8M | $27.6M | $24.1M | $24.2M | $23.0M | $20.0M | $19.8M |
| Other non-current assets | $503,575 | $544,464 | $530,944 | $0 | $92,554 | $0 | $625,289 | $549,128 | $506,161 | $454,039 |
| Total assets | $102.7M | $94.7M | $89.3M | $86.2M | $74.4M | $66.1M | $67.5M | $63.5M | $56.6M | $51.1M |
| Liabilities | ||||||||||
| Accounts payable | $8.0M | $6.4M | $6.1M | $7.8M | $4.3M | $3.2M | $4.5M | $3.9M | $2.7M | $2.8M |
| Short-term debt | $12.5M | $7.4M | $6.7M | $6.3M | $272,336 | $386,345 | — | — | — | — |
| Deferred revenue | — | — | $34.2M | — | — | $1.6M | — | — | — | — |
| Total current liabilities | $23.9M | $17.9M | $16.7M | $17.1M | $8.5M | $6.1M | $7.8M | $7.7M | $4.9M | $4.0M |
| Long-term debt | $466,984 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $493,050 | $424,558 | $428,874 | $557,571 | $376,438 | $658,788 | — | — | — | — |
| Other long-term liabilities | $1.7M | $1.6M | $1.9M | $1.9M | $104,101 | $272,443 | $4.5M | $0 | $0 | $0 |
| Total liabilities | $26.0M | $19.5M | $18.6M | $18.9M | $8.6M | $6.4M | $7.8M | $7.7M | $4.9M | $4.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $189,510 | $189,340 | $188,482 | $184,650 | $183,696 | $182,000 | $181,736 | $14.7M | $14.3M | $13.9M |
| Retained earnings (deficit) | $52.3M | $53.8M | $51.0M | $50.7M | $47.0M | $42.5M | $45.0M | $42.0M | $37.1M | $33.7M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$5.4M | −$6.4M | −$6.8M | −$7.2M | −$3.5M | −$3.4M | −$4.6M | −$3.6M | −$2.5M | −$3.0M |
| Minority interest | $4.6M | $4.0M | $4.3M | $3.6M | $3.4M | $3.0M | $3.1M | $2.7M | $2.9M | $2.5M |
| Total shareholders' equity | $72.1M | $71.2M | $66.4M | $63.6M | $62.4M | $56.7M | $56.6M | $53.1M | $48.9M | $44.5M |
| Key figures | ||||||||||
| Total debt | $13.1M | $7.5M | $6.8M | $6.5M | $376,438 | $658,788 | — | — | — | — |
| Net cash (debt) | −$5.9M | −$2.6M | −$1.4M | −$1.1M | $7.3M | $11.3M | — | — | — | — |
| Working capital | $20.4M | $23.7M | $23.0M | $23.2M | $25.2M | $27.1M | $25.5M | $22.8M | $21.2M | $16.9M |
| Tangible book value | $58.5M | $60.7M | $55.4M | $52.2M | $61.7M | $55.1M | $54.6M | $50.8M | $46.2M | $42.0M |
| Book value per share | $7.48 | $7.24 | $6.85 | $6.60 | $6.32 | $6.23 | $6.01 | $5.66 | $5.34 | $4.91 |
| Shares outstanding | 9.6M | 9.8M | 9.7M | 9.6M | 9.9M | 9.1M | 9.4M | 9.4M | 9.2M | 9.1M |
| Current ratio | 1.86 | 2.32 | 2.37 | 2.36 | 3.96 | 5.45 | 4.25 | 3.95 | 5.33 | 5.24 |
| Quick ratio | 1.13 | 1.44 | 1.47 | 1.29 | 2.50 | 3.52 | 2.77 | 2.56 | 3.71 | 3.21 |
| Debt / equity | 0.18 | 0.11 | 0.10 | 0.10 | 0.01 | 0.01 | — | — | — | — |
| Equity / assets | 70.2% | 75.2% | 74.3% | 73.8% | 83.9% | 85.8% | 83.8% | 83.5% | 86.3% | 87.2% |
| 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 | $8.1M | $6.5M | $6.4M | $7.3M | $6.8M | $5.1M | $5.6M | $5.0M | $5.8M | $4.8M | $6.1M | $5.4M |
| Cash & equivalents | $7.3M | $6.5M | $6.4M | $7.3M | $6.8M | $5.1M | $5.6M | $5.0M | $5.8M | $4.8M | $6.1M | $5.4M |
| Short-term investments | $869,407 | — | — | — | — | — | — | — | — | — | — | $0 |
| Receivables | $20.8M | $19.6M | $19.8M | $19.9M | $18.7M | $17.3M | $17.9M | $20.8M | $16.7M | $17.4M | $16.6M | $19.1M |
| Inventory | $15.8M | $16.5M | $16.1M | $15.5M | $14.9M | $15.0M | $14.3M | $14.4M | $13.2M | $12.5M | $12.6M | $13.1M |
| Other current assets | $3.0M | $2.6M | $2.3M | $1.7M | $2.2M | $2.3M | $2.5M | $1.4M | $2.2M | $2.5M | $3.0M | $2.0M |
| Total current assets | $47.8M | $45.2M | $44.6M | $44.3M | $42.6M | $39.6M | $40.3M | $41.6M | $37.9M | $37.3M | $38.3M | $39.7M |
| Property, plant & equipment (net) | $15.4M | $16.3M | $16.3M | $15.7M | $15.8M | $15.1M | $17.4M | $16.7M | $16.0M | $15.3M | $14.6M | $14.5M |
| Goodwill & intangible assets | $13.1M | $13.2M | $13.4M | $13.6M | $13.2M | $13.4M | $10.4M | $10.5M | $10.6M | $10.7M | $10.8M | $10.9M |
| Long-term investments | $30.4M | $29.7M | $29.3M | $28.6M | $27.1M | $25.0M | $25.5M | $25.4M | $24.2M | $23.5M | $24.6M | $23.7M |
| Other non-current assets | $448,023 | $430,745 | $453,113 | $503,575 | $491,566 | $469,295 | $508,495 | $544,464 | $570,673 | $504,913 | $521,329 | $530,944 |
| Total assets | $107.1M | $104.9M | $104.0M | $102.7M | $99.3M | $93.7M | $94.0M | $94.7M | $89.3M | $87.3M | $88.8M | $89.3M |
| Liabilities | ||||||||||||
| Accounts payable | $9.4M | $8.3M | $9.7M | $8.0M | $7.2M | $7.3M | $6.6M | $6.4M | $6.3M | $6.5M | $6.4M | $6.1M |
| Short-term debt | $15.2M | $14.4M | $12.3M | $12.5M | $10.2M | $8.3M | $7.5M | $7.4M | $5.0M | $4.1M | $6.0M | $6.7M |
| Deferred revenue | — | — | — | — | — | — | — | — | $3.8M | $13,798 | — | $155,828 |
| Total current liabilities | $27.8M | $25.0M | $25.2M | $23.9M | $20.9M | $18.2M | $18.1M | $17.9M | $14.8M | $13.4M | $15.9M | $16.7M |
| Long-term debt | $389,236 | $421,839 | $445,766 | $466,984 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $585,756 | $398,688 | $496,441 | $493,050 | $365,766 | $296,401 | $324,329 | $424,558 | $308,868 | $336,169 | $327,463 | $428,874 |
| Other long-term liabilities | $1.7M | $1.7M | $1.7M | $1.7M | $1.8M | $1.6M | $1.6M | $1.6M | $1.9M | $2.0M | $1.9M | $1.9M |
| Total liabilities | $29.8M | $27.2M | $27.4M | $26.0M | $22.7M | $19.8M | $19.7M | $19.5M | $16.7M | $15.4M | $17.8M | $18.6M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $189,929 | $189,840 | $189,614 | $189,510 | $189,487 | $189,410 | $189,410 | $189,340 | $188,823 | $188,552 | $188,552 | $188,482 |
| Retained earnings (deficit) | $52.0M | $52.3M | $52.4M | $52.3M | $53.5M | $53.4M | $53.7M | $53.8M | $52.6M | $52.3M | $51.2M | $51.0M |
| Accumulated other comprehensive income | −$5.4M | −$4.9M | −$5.6M | −$5.4M | −$6.0M | −$8.2M | −$7.6M | −$6.4M | −$7.0M | −$6.8M | −$6.5M | −$6.8M |
| Minority interest | $4.5M | $4.4M | $4.3M | $4.6M | $4.2M | — | — | — | — | — | — | — |
| Total shareholders' equity | $72.8M | $73.3M | $72.4M | $72.1M | $72.4M | $69.7M | $70.2M | $71.2M | $68.9M | $68.4M | $67.3M | $66.4M |
| Key figures | ||||||||||||
| Total debt | $15.8M | $15.1M | $13.0M | $13.1M | $10.5M | $8.4M | $7.6M | $7.5M | $5.1M | $4.3M | $6.1M | $6.8M |
| Net cash (debt) | −$7.6M | −$8.6M | −$6.6M | −$5.9M | −$3.7M | −$3.3M | −$2.0M | −$2.6M | $735,527 | $523,531 | −$44,117 | −$1.4M |
| Working capital | $20.0M | $20.2M | $19.4M | $20.4M | $21.7M | $21.4M | $22.2M | $23.7M | $23.1M | $24.0M | $22.4M | $23.0M |
| Tangible book value | $59.7M | $60.1M | $59.0M | $58.5M | $59.1M | $56.3M | $59.9M | $60.7M | $58.3M | $57.6M | $56.5M | $55.4M |
| Book value per share | $7.67 | $7.72 | $7.62 | $7.60 | $7.58 | $7.15 | $7.20 | $7.20 | $6.87 | $7.03 | $6.93 | $6.85 |
| Shares outstanding | 9.5M | 9.5M | 9.5M | 9.5M | 9.5M | 9.8M | 9.8M | 9.9M | 10.0M | 9.7M | 9.7M | 9.7M |
| Current ratio | 1.72 | 1.81 | 1.77 | 1.86 | 2.03 | 2.18 | 2.22 | 2.32 | 2.56 | 2.79 | 2.41 | 2.37 |
| Quick ratio | 1.04 | 1.04 | 1.04 | 1.13 | 1.22 | 1.23 | 1.30 | 1.44 | 1.52 | 1.67 | 1.43 | 1.47 |
| Debt / equity | 0.22 | 0.21 | 0.18 | 0.18 | 0.15 | 0.12 | 0.11 | 0.11 | 0.07 | 0.06 | 0.09 | 0.10 |
| Equity / assets | 68.0% | 69.9% | 69.6% | 70.2% | 72.9% | 74.4% | 74.7% | 75.2% | 77.1% | 78.3% | 75.8% | 74.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 20, 2025); data from EODHD.
NTIC financial position
At the end of fiscal 2025 (August 31, 2025), Northern Technologies International had total assets of $102.7 million (up 8.5% from a year earlier), total liabilities of $26.0 million and shareholders' equity of $72.1 million. It held $7.3 million in cash and short-term investments against $13.1 million of debt, net debt of $5.9 million. Its current ratio was 1.86. In the latest quarter (ended May 31, 2026) total assets were $107.1 million and equity $72.8 million.
Related: NTIC income statement, NTIC cash flow statement, NTIC key metrics. See the NTIC stock overview for the latest quote and news.
NTIC balance sheet FAQ
What are Northern Technologies International's total assets?
Northern Technologies International reported total assets of $102.7 million at the end of fiscal 2025 (August 31, 2025), compared with $94.7 million a year earlier.
How much debt does Northern Technologies International have?
Northern Technologies International had $13.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.18.
How much cash does Northern Technologies International have?
Northern Technologies International held $7.3 million in cash and short-term investments at the end of fiscal 2025; with $13.1 million of debt that is net debt of $5.9 million.
What is Northern Technologies International's book value?
Northern Technologies International's shareholders' equity (book value) was $72.1 million at the end of fiscal 2025, or $7.48 per share.
What is Northern Technologies International's current ratio?
Northern Technologies International had current assets of $44.3 million and current liabilities of $23.9 million, a current ratio of 1.86 (it can cover its short-term obligations).
How much goodwill does Northern Technologies International have?
Northern Technologies International carried $13.6 million of goodwill and intangible assets, 13.2% of total assets, at the end of fiscal 2025.