NexGen Energy Ltd. (NXE) Balance Sheet
NXE balance sheet, 2025
December 31, 2025 · Canadian dollarsC$2.47B assets = C$640.3M liabilities + C$1.83B equity
Both columns are drawn to the same scale: what NXE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
NXE financial health
Current ratio1.82
Comfortable · current assets cover current liabilities 1.82×
Debt / equity0.32
Low leverage · C$0.32 of debt for each $1 of equity
Equity / assets74.1%
Equity-funded · of assets funded by shareholders
Cash / debt191.5%
Cash covers debt · cash & short-term investments vs total debt
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
NXE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | C$192.5M2016 | C$2.47B2025 | +32.8%/yr | |
| Total liabilities | C$73.5M2016 | C$640.3M2025 | +27.2%/yr | |
| Shareholders’ equity | C$119.0M2016 | C$1.83B2025 | +35.5%/yr | |
| Cash & short-term investments | C$78.5M2016 | C$1.12B2025 | +34.4%/yr | |
| Total debt | C$141.6M2016 | C$586.4M2025 | +17.1%/yr | |
| Net cash (debt) | −C$63.1M2016 | C$536.3M2025 | +C$599.4M | |
| Working capital | C$77.0M2016 | C$516.8M2025 | +C$439.8M | |
| Current ratio | 32.712016 | 1.822025 | −30.89 | |
| Debt / equity | 1.192016 | 0.322025 | −0.87 | |
| Shares outstanding | 300.3M2016 | 588.4M2025 | +7.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
NXE assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
NXE liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
NXE debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
NXE balance sheet in Canadian dollars
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | C$1.12B | C$476.6M | C$290.7M | C$140.2M | C$211.1M | C$74.0M | C$52.1M | C$125.1M | C$164.9M | C$78.5M |
| Cash & equivalents | C$801.9M | C$476.6M | C$290.7M | C$134.4M | C$201.8M | C$74.0M | C$52.1M | C$125.1M | C$164.9M | C$31.1M |
| Short-term investments | C$320.8M | C$0 | C$0 | C$5.8M | C$9.3M | C$0 | — | — | C$0 | C$47.5M |
| Receivables | C$2.7M | C$2.2M | C$2.5M | C$1.8M | C$1.2M | C$304,000 | C$610,121 | C$386,939 | C$548,069 | C$807,447 |
| Inventory | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other current assets | C$21.2M | C$14.4M | C$13.8M | C$2.2M | C$1.0M | C$680,000 | C$734,310 | C$266,353 | C$158,875 | C$72,575 |
| Total current assets | C$1.15B | C$493.2M | C$307.0M | C$144.2M | C$213.3M | C$75.0M | C$53.5M | C$125.7M | C$165.7M | C$79.4M |
| Property, plant & equipment (net) | C$7.6M | C$590.2M | C$456.8M | C$410.3M | C$333.2M | C$282.3M | C$260.0M | C$200.6M | C$157.4M | C$113.0M |
| Goodwill & intangible assets | C$0 | C$0 | C$65 | C$144 | C$312 | C$219 | C$288 | C$334 | C$143 | C$158 |
| Long-term investments | C$153.8M | C$229.6M | C$240.1M | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other non-current assets | C$1.16B | C$344.2M | C$3.6M | C$75,856 | C$75,688 | C$84,781 | C$95,547 | C$514,377 | C$32,784 | C$22,694 |
| Total assets | C$2.47B | C$1.66B | C$1.01B | C$554.6M | C$546.6M | C$357.4M | C$313.5M | C$326.9M | C$323.1M | C$192.5M |
| Liabilities | ||||||||||
| Accounts payable | C$40.3M | C$21.4M | C$26.9M | C$13,680 | C$7,441 | C$6,499 | C$3,209 | C$3,842 | C$1,661 | C$1,865 |
| Short-term debt | C$587.1M | C$456.7M | C$159.4M | C$80.8M | C$706,000 | C$778,000 | C$558,960 | — | C$171.4M | C$70.8M |
| Deferred revenue | — | — | −C$26,943 | −C$13,680 | −C$7,441 | −C$6,499 | −C$3,209 | — | — | — |
| Total current liabilities | C$629.9M | C$478.1M | C$186.4M | C$96.6M | C$8.2M | C$7.3M | C$4.8M | C$6.5M | C$3.0M | C$2.4M |
| Long-term debt | C$0 | C$0 | C$158.5M | C$80.0M | C$74.5M | C$230.1M | C$121.7M | C$138.2M | C$171.4M | C$70.8M |
| Lease obligations | C$697,000 | C$1.0M | C$1.9M | C$2.5M | C$3.2M | C$4.0M | C$2.6M | — | — | — |
| Other long-term liabilities | C$10.4M | C$91,000 | C$0 | C$0 | C$2.5M | C$711,490 | C$725,065 | C$232,782 | C$354,245 | C$250,195 |
| Total liabilities | C$640.3M | C$478.2M | C$187.4M | C$99.1M | C$85.2M | C$238.1M | C$127.2M | C$144.9M | C$174.7M | C$73.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | C$2.38B | C$1.41B | C$1.01B | C$712.6M | C$695.9M | C$256.0M | C$218.8M | C$208.7M | C$196.3M | C$125.7M |
| Retained earnings (deficit) | −C$690.7M | −C$381.6M | −C$304.0M | −C$389.9M | −C$333.0M | −C$212.3M | −C$103.4M | −C$85.1M | −C$88.0M | −C$32.7M |
| Accumulated other comprehensive income | C$145.3M | C$154.6M | C$114.9M | C$95.1M | C$70.7M | C$50.6M | C$49.3M | C$41.7M | C$28.1M | C$17.0M |
| Minority interest | — | C$0 | C$0 | C$37.5M | — | — | — | — | — | — |
| Total shareholders' equity | C$1.83B | C$1.18B | C$820.0M | C$417.9M | C$433.6M | C$94.3M | C$186.3M | C$165.3M | C$148.3M | C$119.0M |
| Key figures | ||||||||||
| Total debt | C$586.4M | C$456.8M | C$318.9M | C$162.5M | C$75.2M | C$230.9M | C$122.2M | C$138.2M | C$342.7M | C$141.6M |
| Net cash (debt) | C$536.3M | C$19.8M | −C$28.2M | −C$22.3M | C$135.9M | −C$156.9M | −C$70.1M | −C$13.1M | −C$177.8M | −C$63.1M |
| Working capital | C$516.8M | C$15.1M | C$120.6M | C$47.6M | C$205.1M | C$67.7M | C$48.7M | C$119.2M | C$162.6M | C$77.0M |
| Tangible book value | C$1.83B | C$1.18B | C$820.0M | C$417.9M | C$433.6M | C$94.3M | C$186.3M | C$165.3M | C$148.3M | C$119.0M |
| Shares outstanding | 588.4M | 554.8M | 529.2M | 479.7M | 459.3M | 370.5M | 402.7M | 394.0M | 321.9M | 300.3M |
| Current ratio | 1.82 | 1.03 | 1.65 | 1.49 | 26.00 | 10.24 | 11.17 | 19.29 | 54.95 | 32.71 |
| Quick ratio | 1.79 | 1.00 | 1.57 | 1.47 | 25.87 | 10.15 | 11.02 | 19.25 | 54.90 | 32.68 |
| Debt / equity | 0.32 | 0.39 | 0.39 | 0.39 | 0.17 | 2.45 | 0.66 | 0.84 | 2.31 | 1.19 |
| Equity / assets | 74.1% | 71.1% | 81.4% | 75.4% | 79.3% | 26.4% | 59.4% | 50.6% | 45.9% | 61.8% |
| 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 | C$970.3M | C$1.02B | C$1.12B | C$306.0M | C$371.6M | C$434.6M | C$476.6M | C$537.8M | C$572.4M | C$383.2M | C$290.7M | C$377.7M |
| Cash & equivalents | C$756.2M | C$657.1M | C$801.9M | C$306.0M | C$371.6M | C$434.6M | C$476.6M | C$537.8M | C$572.4M | C$383.2M | C$290.7M | C$370.4M |
| Short-term investments | C$214.1M | C$363.9M | C$320.8M | — | — | — | C$0 | C$0 | C$0 | C$0 | C$0 | C$7.2M |
| Receivables | C$3.1M | C$2.6M | C$2.7M | C$2.8M | C$1.5M | C$1.5M | C$2.2M | C$1.8M | C$1.8M | C$4.1M | C$2.5M | C$2.0M |
| Inventory | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 |
| Other current assets | C$14.0M | C$15.1M | C$21.2M | C$9.1M | C$9.4M | C$11.8M | C$14.4M | C$5.2M | C$8.5M | C$11.1M | C$13.8M | C$6.4M |
| Total current assets | C$987.3M | C$1.04B | C$1.15B | C$317.9M | C$382.4M | C$447.9M | C$493.2M | C$544.7M | C$582.7M | C$398.4M | C$307.0M | C$386.1M |
| Property, plant & equipment (net) | C$997.4M | C$757.6M | C$7.6M | C$738.3M | C$655.4M | C$621.2M | C$590.2M | C$555.2M | C$513.5M | C$490.1M | C$456.8M | C$494.7M |
| Goodwill & intangible assets | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$56,000 | C$56,000 | C$65 | C$85 |
| Long-term investments | C$180.7M | C$177.1M | C$153.8M | C$158.1M | C$156.6M | C$147.0M | C$229.6M | C$239.4M | C$238.5M | C$241.1M | C$240.1M | C$0 |
| Other non-current assets | C$362.9M | C$498.8M | C$1.16B | C$351.9M | C$351.8M | C$350.9M | C$344.2M | C$344.4M | C$344.4M | C$3.4M | C$3.6M | C$3.7M |
| Total assets | C$2.53B | C$2.47B | C$2.47B | C$1.57B | C$1.55B | C$1.57B | C$1.66B | C$1.68B | C$1.68B | C$1.13B | C$1.01B | C$884.6M |
| Liabilities | ||||||||||||
| Accounts payable | C$59.7M | C$29.7M | C$40.3M | C$31.2M | C$17.6M | C$35.8M | C$21.4M | C$37.6M | C$20.4M | C$26.6M | C$26,943 | C$27,383 |
| Short-term debt | C$613.1M | C$717.2M | C$587.1M | C$592.7M | C$489.1M | C$425.0M | C$456.7M | C$430.9M | C$465.7M | C$176.9M | C$159.4M | C$829,000 |
| Deferred revenue | — | — | — | — | — | — | — | — | −C$20.4M | −C$26.6M | −C$26,943 | −C$27,383 |
| Total current liabilities | C$675.4M | C$760.5M | C$629.9M | C$637.9M | C$509.3M | C$460.8M | C$478.1M | C$468.6M | C$486.1M | C$203.4M | C$186.4M | C$28.3M |
| Long-term debt | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$0 | C$158.5M | C$189.2M |
| Lease obligations | C$697,000 | C$697,000 | C$697,000 | C$437,000 | C$560,000 | C$678,000 | C$1.0M | C$1.3M | C$1.5M | C$1.7M | C$1.9M | C$1.9M |
| Other long-term liabilities | C$8.6M | C$9.5M | C$10.4M | C$9.5M | C$11.0M | C$2.8M | C$91,000 | C$266,000 | C$523,000 | C$772,000 | C$0 | C$2.4M |
| Total liabilities | C$684.0M | C$770.0M | C$640.3M | C$647.4M | C$520.3M | C$463.6M | C$478.2M | C$468.8M | C$486.6M | C$204.2M | C$187.4M | C$219.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | C$2.48B | C$2.40B | C$2.38B | C$1.44B | C$1.42B | C$1.41B | C$1.41B | C$1.39B | C$1.39B | C$1.15B | C$1.01B | C$995.4M |
| Retained earnings (deficit) | −C$772.7M | −C$849.5M | −C$690.7M | −C$648.4M | −C$519.2M | −C$432.5M | −C$381.6M | −C$315.2M | −C$325.4M | −C$338.6M | −C$304.0M | −C$468.0M |
| Accumulated other comprehensive income | C$137.3M | C$150.1M | C$145.3M | C$130.2M | C$123.8M | C$129.1M | C$154.6M | C$141.9M | C$132.5M | C$120.7M | C$114.9M | C$106.8M |
| Total shareholders' equity | C$1.84B | C$1.70B | C$1.83B | C$918.8M | C$1.03B | C$1.10B | C$1.18B | C$1.21B | C$1.19B | C$928.9M | C$820.0M | C$634.2M |
| Key figures | ||||||||||||
| Total debt | C$613.1M | C$716.5M | C$586.4M | C$592.7M | C$489.1M | C$425.0M | C$456.8M | C$431.2M | C$466.2M | C$177.6M | C$318.9M | C$191.1M |
| Net cash (debt) | C$357.2M | C$304.5M | C$536.3M | −C$286.8M | −C$117.5M | C$9.6M | C$19.8M | C$106.6M | C$106.2M | C$205.5M | −C$28.2M | C$186.6M |
| Working capital | C$311.9M | C$278.2M | C$516.8M | −C$320.0M | −C$126.9M | −C$12.9M | C$15.1M | C$76.1M | C$96.6M | C$195.0M | C$120.6M | C$357.8M |
| Tangible book value | C$1.84B | C$1.70B | C$1.83B | C$918.8M | C$1.03B | C$1.10B | C$1.18B | C$1.21B | C$1.19B | C$928.8M | C$820.0M | C$634.2M |
| Shares outstanding | 705.3M | 660.7M | 611.8M | 573.1M | 570.0M | 569.1M | 613.8M | 613.8M | 613.8M | 536.6M | 525.3M | 491.3M |
| Current ratio | 1.46 | 1.37 | 1.82 | 0.50 | 0.75 | 0.97 | 1.03 | 1.16 | 1.20 | 1.96 | 1.65 | 13.66 |
| Quick ratio | 1.44 | 1.35 | 1.79 | 0.48 | 0.73 | 0.95 | 1.00 | 1.15 | 1.18 | 1.90 | 1.57 | 13.43 |
| Debt / equity | 0.33 | 0.42 | 0.32 | 0.65 | 0.48 | 0.39 | 0.39 | 0.35 | 0.39 | 0.19 | 0.39 | 0.30 |
| Equity / assets | 72.9% | 68.9% | 74.1% | 58.7% | 66.3% | 70.4% | 71.1% | 72.2% | 71.0% | 82.0% | 81.4% | 71.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed March 4, 2026); data from EODHD.
NXE financial position
At the end of fiscal 2025 (December 31, 2025), NexGen Energy had total assets of C$2.5 billion (up 49.1% from a year earlier), total liabilities of C$640.3 million and shareholders' equity of C$1.8 billion. It held C$1.1 billion in cash and short-term investments against C$586.4 million of debt, a net cash position of C$536.3 million. Its current ratio was 1.82. In the latest quarter (ended June 30, 2026) total assets were C$2.5 billion and equity C$1.8 billion.
Related: NXE income statement, NXE cash flow statement, NXE key metrics. See the NXE stock overview for the latest quote and news.
NXE balance sheet FAQ
What are NexGen Energy's total assets?
NexGen Energy reported total assets of C$2.5 billion at the end of fiscal 2025 (December 31, 2025), compared with C$1.7 billion a year earlier.
How much debt does NexGen Energy have?
NexGen Energy had C$586.4 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.32.
How much cash does NexGen Energy have?
NexGen Energy held C$1.1 billion in cash and short-term investments at the end of fiscal 2025; with C$586.4 million of debt that is net cash of C$536.3 million.
What is NexGen Energy's book value?
NexGen Energy's shareholders' equity (book value) was C$1.8 billion at the end of fiscal 2025.
What is NexGen Energy's current ratio?
NexGen Energy had current assets of C$1.1 billion and current liabilities of C$629.9 million, a current ratio of 1.82 (it can cover its short-term obligations).