Odyssey Marine Exploration, Inc. (OMEX) Balance Sheet
OMEX balance sheet, 2025
December 31, 2025 · U.S. dollars$15.8M assets = $91.4M liabilities + −$75.5M equity
Liabilities exceed assets: shareholders’ equity is negative (−$75.5M).
Both columns are drawn to the same scale: what OMEX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OMEX financial health
Descriptive bands, not a rating. Fiscal 2025.
OMEX balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.1M2016 | $15.8M2025 | +13.5%/yr | |
| Total liabilities | $36.2M2016 | $91.4M2025 | +10.8%/yr | |
| Shareholders’ equity | −$19.0M2016 | −$37.6M2025 | — | |
| Cash & short-term investments | $1.7M2016 | $3.5M2025 | +8.7%/yr | |
| Total debt | $25.1M2016 | $5.0M2025 | −16.4%/yr | |
| Net cash (debt) | −$23.4M2016 | −$1.5M2025 | +$21.9M | |
| Working capital | −$24.5M2016 | −$7.3M2025 | +$17.1M | |
| Book value per share | −$1.962021 | −$0.962025 | — | |
| Current ratio | 0.102016 | 0.372025 | +0.27 | |
| Shares outstanding | 13.3M2021 | 39.3M2025 | +31.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OMEX assets
OMEX liabilities and equity
OMEX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OMEX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $3.5M | $4.8M | $4.0M | $1.4M | $2.3M | $6.2M | $213,389 | $2.8M | $1.1M | $1.7M |
| Cash & equivalents | $3.5M | $4.8M | $4.0M | $1.4M | $2.3M | $6.2M | $213,389 | $2.8M | $1.1M | $1.7M |
| Short-term investments | — | $445.1M | — | — | $3,254 | — | — | — | $10,000 | $10,000 |
| Receivables | $67,323 | $285,764 | $46,394 | $7,515 | $268,867 | $160,220 | $378,540 | $789,421 | $232,380 | $473,806 |
| Inventory | $0 | $48,164 | $119,820 | $1 | $1 | −$586.8M | −$599.4M | $1 | $481,696 | $592,616 |
| Other current assets | $772,616 | $635,462 | $687,545 | $2.5M | $776,629 | $587.4M | $600.0M | $1.0M | $23,841 | $26,846 |
| Total current assets | $4.4M | $5.8M | $4.9M | $4.0M | $3.3M | $6.9M | $1.2M | $4.6M | $1.8M | $2.8M |
| Property, plant & equipment (net) | $474,816 | $534,016 | $646,224 | $3.2M | $479,143 | $614,757 | $756,841 | $117,979 | $593,816 | $1.4M |
| Goodwill & intangible assets | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $0 | $0 | $0 |
| Long-term investments | $8.8M | $9.9M | $9.0M | $4.4M | $3.3M | $2.4M | $1.5M | $752,667 | $0 | $0 |
| Other non-current assets | $369,269 | $489,711 | $6.4M | $492,163 | $34,295 | $41,806 | $26,806 | $0 | $532,500 | $948,829 |
| Total assets | $15.8M | $18.5M | $22.8M | $13.9M | $8.9M | $11.8M | $5.3M | $5.5M | $3.0M | $5.1M |
| Liabilities | ||||||||||
| Accounts payable | $770,750 | $748,403 | $345,378 | $2.3M | $1.8M | $1.5M | $6.2M | $2.8M | $2.4M | $1.4M |
| Short-term debt | $1.1M | $13.1M | $15.5M | $21.9M | $23.6M | $31.2M | $31.6M | $29.4M | $24.4M | $20.7M |
| Deferred revenue | — | — | $8.2M | — | — | $3.82B | $450,000 | — | — | $4.64B |
| Total current liabilities | $11.7M | $22.5M | $31.5M | $41.8M | $52.6M | $53.9M | $51.2M | $42.0M | $33.3M | $27.2M |
| Long-term debt | $3.9M | $9.9M | $7.9M | $25.0M | $18.5M | $11.5M | $3.0M | $0 | $3.0M | $4.3M |
| Lease obligations | — | $0 | $129,140 | $315,795 | $478,966 | $621,046 | $744,198 | — | — | — |
| Other long-term liabilities | $75.8M | $65.3M | $69.3M | $35.7M | $315,795 | $4.3M | $4.4M | $4.6M | $4.6M | $4.6M |
| Total liabilities | $91.4M | $97.6M | $108.7M | $102.5M | $71.4M | $69.7M | $58.6M | $46.7M | $41.0M | $36.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $5,577 | $2,883 | $2,042 | $1,954 | $1,431 | $1,259 | $948 | $922 | $847 | $772 |
| Retained earnings (deficit) | −$323.5M | −$280.4M | −$296.1M | −$301.4M | −$275.1M | −$265.1M | −$250.3M | −$239.9M | −$234.7M | −$227.0M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | — | — | — | $0 | −$10.9M | $0 | −$15.8M |
| Minority interest | −$37.9M | −$62.8M | −$53.4M | −$44.2M | — | −$30.3M | −$24.0M | −$19.3M | −$15.4M | −$12.1M |
| Total shareholders' equity | −$37.6M | −$16.2M | −$32.5M | −$44.5M | −$26.0M | −$27.6M | −$29.3M | −$21.9M | −$22.6M | −$19.0M |
| Key figures | ||||||||||
| Total debt | $5.0M | $22.9M | $23.4M | $22.7M | $42.4M | $43.2M | $35.1M | $29.4M | $27.4M | $25.1M |
| Net cash (debt) | −$1.5M | −$18.1M | −$19.4M | −$21.3M | −$40.1M | −$37.1M | −$34.9M | −$26.7M | −$26.3M | −$23.4M |
| Working capital | −$7.3M | −$16.7M | −$26.6M | −$37.8M | −$49.3M | −$47.0M | −$50.0M | −$37.4M | −$31.5M | −$24.5M |
| Tangible book value | −$39.5M | −$18.1M | −$34.3M | −$46.3M | −$27.9M | −$29.4M | −$31.1M | −$21.9M | −$22.6M | −$19.0M |
| Book value per share | −$0.96 | −$0.57 | −$1.61 | −$2.57 | −$1.96 | — | — | — | — | — |
| Shares outstanding | 39.3M | 28.4M | 20.1M | 17.3M | 13.3M | — | — | — | — | — |
| Current ratio | 0.37 | 0.26 | 0.15 | 0.10 | 0.06 | 0.13 | 0.02 | 0.11 | 0.06 | 0.10 |
| Quick ratio | 0.31 | 0.23 | 0.13 | 0.03 | 0.05 | 0.12 | 0.01 | 0.09 | 0.04 | 0.08 |
| Equity / assets | −237.7% | −87.8% | −142.7% | −320.7% | −292.2% | −234.9% | −549.6% | −399.9% | −760.5% | −373.5% |
| 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 | $2.3M | $2.1M | $3.5M | $5.8M | $3.6M | $2.5M | $4.8M | $2.9M | $7.6M | $2.1M | $4.0M | $4.0M |
| Cash & equivalents | $2.3M | $2.1M | $3.5M | $5.8M | $3.6M | $2.5M | $4.8M | $2.9M | $7.6M | $2.1M | $4.0M | $4.0M |
| Short-term investments | — | — | — | — | — | — | — | −$6.2M | — | $6.30B | — | — |
| Receivables | $129,389 | $49,866 | $67,323 | $67,320 | $67,316 | $67,306 | $285,764 | $67,320 | $75,573 | $59,097 | $0 | $110,320 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | −$587.2M | $0 | $0 |
| Other current assets | $436,722 | $607,491 | $772,616 | $321,434 | $412,462 | $573,729 | $683,626 | $295,539 | $390,964 | $587.8M | $853,759 | $743,439 |
| Total current assets | $2.9M | $2.8M | $4.4M | $6.2M | $4.0M | $3.1M | $5.8M | $3.2M | $8.0M | $2.7M | $4.9M | $4.9M |
| Property, plant & equipment (net) | $439,009 | $456,912 | $474,816 | $479,099 | $495,303 | $513,486 | $534,016 | $554,872 | $597,296 | $683,381 | $646,224 | $646,224 |
| Goodwill & intangible assets | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M |
| Long-term investments | $0 | $8.0M | $8.8M | $8.9M | $9.8M | $10.0M | $9.9M | $9.9M | $9.5M | $9.1M | $9.0M | $0 |
| Other non-current assets | $8.1M | $369,269 | $369,269 | $369,270 | $386,475 | $438,093 | $489,711 | $6.2M | $6.3M | $6.3M | $6.4M | $15.4M |
| Total assets | $13.2M | $13.4M | $15.8M | $17.7M | $16.6M | $15.8M | $18.5M | $21.8M | $26.3M | $20.6M | $22.8M | $22.8M |
| Liabilities | ||||||||||||
| Accounts payable | $5.0M | $1.5M | $770,750 | $507,406 | $692,982 | $778,652 | $748,403 | $406,515 | $345,949 | $1.3M | $345,378 | $345,378 |
| Short-term debt | $9.8M | $907,845 | $1.1M | $6.5M | $20.8M | $13.6M | $13.1M | $19.4M | $21.7M | $16.4M | — | $15.5M |
| Deferred revenue | — | — | — | — | — | — | — | — | $8.1M | $9.4M | — | — |
| Total current liabilities | $25.1M | $13.3M | $11.7M | $16.4M | $31.0M | $23.1M | $22.5M | $31.0M | $37.8M | $32.9M | $31.5M | $31.5M |
| Long-term debt | $0 | $4.0M | $3.9M | $3.9M | $3.9M | $10.1M | $9.9M | $3.8M | $4.3M | $61.4M | $7.9M | $0 |
| Lease obligations | — | — | — | — | — | — | $0 | $0 | $26,579 | $78,497 | $129,140 | — |
| Other long-term liabilities | $68.1M | $66.9M | $75.8M | $80.7M | $72.0M | $62.0M | $65.3M | $63.7M | $78.1M | $17.4M | $69.3M | $77.2M |
| Total liabilities | $93.2M | $84.2M | $91.4M | $101.0M | $106.8M | $95.3M | $97.6M | $98.5M | $120.2M | $111.7M | $108.7M | $108.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,869 | $5,837 | $5,577 | $5,039 | $3,249 | $2,917 | $2,883 | $2,086 | $2,059 | $2,043 | — | $2,042 |
| Retained earnings (deficit) | −$332.5M | −$323.2M | −$323.5M | −$306.1M | −$293.0M | −$278.2M | −$280.4M | −$275.4M | −$294.1M | −$292.6M | −$296.1M | −$296.1M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $0 | — | $0 | — | $0 |
| Minority interest | — | −$38.1M | −$37.9M | −$37.9M | −$37.5M | −$65.5M | — | — | — | — | — | — |
| Total shareholders' equity | −$41.7M | −$32.8M | −$37.6M | −$45.4M | −$52.8M | −$13.9M | −$16.2M | −$16.1M | −$35.7M | −$35.1M | −$32.5M | −$32.5M |
| Key figures | ||||||||||||
| Total debt | $9.8M | $4.9M | $5.0M | $11.9M | $28.3M | $23.8M | $22.9M | $23.2M | $26.0M | $24.8M | $7.9M | $23.4M |
| Net cash (debt) | −$7.4M | −$2.8M | −$1.5M | −$6.0M | −$24.7M | −$21.3M | −$18.1M | −$20.3M | −$18.4M | −$22.7M | −$3.9M | −$19.4M |
| Working capital | −$22.2M | −$10.6M | −$7.3M | −$10.2M | −$26.9M | −$20.0M | −$16.7M | −$27.7M | −$29.7M | −$30.2M | −$26.6M | −$26.6M |
| Tangible book value | −$43.6M | −$34.6M | −$39.5M | −$47.2M | −$54.6M | −$15.8M | −$18.1M | −$17.9M | −$37.5M | −$36.9M | −$34.3M | −$34.3M |
| Book value per share | −$0.71 | −$0.58 | −$0.96 | −$1.48 | −$1.72 | −$0.47 | −$0.56 | −$0.64 | −$1.74 | −$1.31 | −$1.59 | −$1.62 |
| Shares outstanding | 58.6M | 56.7M | 39.3M | 30.8M | 30.8M | 29.6M | 28.8M | 25.2M | 20.5M | 26.7M | 20.4M | 20.1M |
| Current ratio | 0.12 | 0.21 | 0.37 | 0.38 | 0.13 | 0.13 | 0.26 | 0.10 | 0.21 | 0.08 | 0.15 | 0.15 |
| Quick ratio | 0.10 | 0.16 | 0.31 | 0.36 | 0.12 | 0.11 | 0.23 | 0.09 | 0.20 | 0.06 | 0.13 | 0.13 |
| Equity / assets | −315.4% | −245.1% | −237.7% | −256.0% | −318.6% | −88.1% | −87.8% | −73.8% | −135.9% | −169.9% | −142.7% | −142.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
OMEX financial position
At the end of fiscal 2025 (December 31, 2025), Odyssey Marine Exploration had total assets of $15.8 million (down 14.3% from a year earlier), total liabilities of $91.4 million and shareholders' equity of -$37.6 million. It held $3.5 million in cash and short-term investments against $5.0 million of debt, net debt of $1.5 million. Its current ratio was 0.37. In the latest quarter (ended June 30, 2026) total assets were $13.2 million and equity -$41.7 million.
Related: OMEX income statement, OMEX cash flow statement, OMEX key metrics. See the OMEX stock overview for the latest quote and news.
OMEX balance sheet FAQ
What are Odyssey Marine Exploration's total assets?
Odyssey Marine Exploration reported total assets of $15.8 million at the end of fiscal 2025 (December 31, 2025), compared with $18.5 million a year earlier.
How much debt does Odyssey Marine Exploration have?
Odyssey Marine Exploration had $5.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was —.
How much cash does Odyssey Marine Exploration have?
Odyssey Marine Exploration held $3.5 million in cash and short-term investments at the end of fiscal 2025; with $5.0 million of debt that is net debt of $1.5 million.
What is Odyssey Marine Exploration's book value?
Odyssey Marine Exploration's shareholders' equity (book value) was -$37.6 million at the end of fiscal 2025, or −$0.96 per share.
What is Odyssey Marine Exploration's current ratio?
Odyssey Marine Exploration had current assets of $4.4 million and current liabilities of $11.7 million, a current ratio of 0.37 (current liabilities exceed current assets).
How much goodwill does Odyssey Marine Exploration have?
Odyssey Marine Exploration carried $1.8 million of goodwill and intangible assets, 11.5% of total assets, at the end of fiscal 2025.