Orion Digital Corp. (ORIO) Balance Sheet

NASDAQ: ORIOAssets, liabilities, debt and equity over 10 years.

ORIO balance sheet, 2025

December 31, 2025 · Canadian dollars

C$173.6M assets = C$101.3M liabilities + C$72.3M equity

Both columns are drawn to the same scale: what ORIO owns equals what it owes plus shareholders’ equity. Hover a block for its value.

ORIO financial health

Current ratio1.49

Adequate · current assets cover current liabilities 1.49×

Debt / equity1.17

Moderate leverage · C$1.17 of debt for each $1 of equity

Equity / assets41.7%

Equity-funded · of assets funded by shareholders

Cash / debt38.2%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles37.1%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ORIO balance sheet trends, 2016–2025

Orion Digital Corp. balance sheet trends
Metric	Then	Latest	Change
Total assets	C$99.8M2016	C$173.6M2025	+6.4%/yr
Total liabilities	C$94.0M2016	C$101.3M2025	+0.8%/yr
Shareholders’ equity	C$5.7M2016	C$72.3M2025	+32.5%/yr
Cash & short-term investments	C$18.8M2016	C$32.3M2025	+6.2%/yr
Total debt	C$86.7M2016	C$84.6M2025	−0.3%/yr
Net cash (debt)	−C$67.9M2016	−C$52.3M2025	+C$15.6M
Working capital	C$69.6M2021	C$33.7M2025	−C$35.9M
Current ratio	2.062021	1.492025	−0.56
Debt / equity	15.092016	1.172025	−13.92
Shares outstanding	4.5M2016	24.1M2025	+20.4%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

ORIO assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

ORIO liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ORIO debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

ORIO balance sheet in Canadian dollars

Orion Digital Corp. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	C$32.3M	C$34.6M	C$42.5M	C$29.3M	C$67.8M	C$12.1M	C$10.7M	C$20.4M	C$41.2M	C$18.8M
Cash & equivalents	C$17.7M	C$8.5M	C$16.1M	C$29.3M	C$67.8M	C$12.1M	C$10.7M	C$20.4M	C$41.2M	C$18.8M
Short-term investments	C$14.6M	C$26.1M	C$26.3M	—	—	—	—	—	—	—
Receivables	C$65.5M	C$68.1M	C$73.5M	C$66.7M	C$64.3M	C$0	C$0	C$0	C$0	C$62.5M
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$4.1M	C$4.1M	C$3.0M	C$4.1M	C$3.3M	—	—	—	—	—
Total current assets	C$101.9M	C$106.8M	C$119.0M	C$100.1M	C$135.3M	—	—	—	—	—
Property, plant & equipment (net)	C$254,000	C$448,000	C$1.2M	C$3.7M	C$4.6M	C$4.8M	C$6.8M	C$3.0M	C$3.3M	C$4.0M
Goodwill & intangible assets	C$64.4M	C$69.4M	C$74.9M	C$80.2M	C$122.4M	C$19.0M	C$21.8M	C$18.6M	C$15.1M	C$12.3M
Long-term investments	C$7.1M	C$13.0M	C$12.7M	C$37.5M	C$123.6M	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$0	C$0	C$0	C$0	C$7.9M	C$81.0M	C$126.6M	C$110.2M	C$118.3M	C$83.5M
Total assets	C$173.6M	C$189.6M	C$207.8M	C$221.5M	C$393.9M	C$104.7M	C$155.2M	C$131.8M	C$136.7M	C$99.8M
Liabilities
Accounts payable	C$3.4M	C$4.5M	C$6.4M	C$5.7M	C$5.0M	—	—	—	—	—
Short-term debt	C$51.7M	C$48.8M	C$49.4M	C$46.2M	C$45.0M	—	—	—	—	—
Total current liabilities	C$68.2M	C$71.0M	C$73.5M	C$67.2M	C$65.8M	C$7.9M	C$11.6M	C$9.4M	C$7.6M	C$5.6M
Long-term debt	C$31.9M	C$35.3M	C$36.8M	C$38.3M	C$39.8M	C$0	C$0	C$0	C$0	C$0
Lease obligations	C$1.0M	C$1.5M	C$2.7M	C$3.3M	C$3.9M	—	—	—	—	—
Other long-term liabilities	C$1.3M	C$2.2M	C$3.7M	C$5.2M	C$18.5M	C$99.5M	C$153.4M	C$140.5M	C$122.7M	C$94.0M
Total liabilities	C$101.3M	C$108.4M	C$114.0M	C$110.6M	C$124.1M	C$99.5M	C$153.4M	C$140.5M	C$122.7M	C$94.0M
Shareholders' equity
Common stock & paid-in capital	C$388.7M	C$389.7M	C$389.8M	C$391.2M	C$392.6M	C$107.0M	C$97.1M	C$74.8M	C$72.4M	C$46.0M
Retained earnings (deficit)	−C$354.0M	−C$345.5M	−C$331.8M	−C$313.9M	−C$148.3M	−C$115.3M	−C$104.4M	−C$90.5M	−C$64.6M	−C$44.2M
Accumulated other comprehensive income	−C$1.5M	−C$416,000	C$243,000	C$559,000	C$926,000	—	—	C$838,334	—	—
Total shareholders' equity	C$72.3M	C$81.2M	C$93.7M	C$110.9M	C$269.8M	C$5.2M	C$1.8M	−C$8.7M	C$14.0M	C$5.7M
Key figures
Total debt	C$84.6M	C$85.6M	C$88.9M	C$87.7M	C$88.7M	C$90.4M	C$140.0M	C$129.0M	C$111.3M	C$86.7M
Net cash (debt)	−C$52.3M	−C$51.0M	−C$46.4M	−C$58.5M	−C$21.0M	−C$78.2M	−C$129.3M	−C$108.7M	−C$70.1M	−C$67.9M
Working capital	C$33.7M	C$35.8M	C$45.5M	C$32.9M	C$69.6M	—	—	—	—	—
Tangible book value	C$8.0M	C$11.8M	C$18.8M	C$30.7M	C$147.4M	−C$13.7M	−C$20.0M	−C$27.3M	−C$1.1M	−C$6.6M
Shares outstanding	24.1M	24.4M	24.9M	25.4M	21.0M	9.6M	6.6M	5.5M	4.9M	4.5M
Current ratio	1.49	1.50	1.62	1.49	2.06	—	—	—	—	—
Quick ratio	1.43	1.45	1.58	1.43	2.01	1.55	0.93	2.16	5.43	14.42
Debt / equity	1.17	1.05	0.95	0.79	0.33	17.22	77.80	—	7.95	15.09
Equity / assets	41.7%	42.8%	45.1%	50.1%	68.5%	5.0%	1.2%	−6.6%	10.2%	5.8%

Orion Digital Corp. quarterly balance sheet
	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$27.5M	C$28.4M	C$32.3M	C$35.7M	C$38.2M	C$26.1M	C$34.6M	C$22.3M	C$10.0M	C$11.8M	C$56.3M	C$17.7M
Cash & equivalents	C$23.3M	C$23.7M	C$17.7M	C$14.9M	C$8.1M	C$9.8M	C$8.5M	C$9.8M	C$10.0M	C$11.8M	C$21.4M	C$17.7M
Short-term investments	C$4.2M	C$4.7M	C$14.6M	C$20.8M	C$30.1M	C$16.3M	C$26.1M	C$12.5M	—	—	C$34.9M	—
Receivables	C$505,218	C$67.2M	C$65.5M	C$66.6M	C$64.5M	C$62.1M	C$68.1M	C$73.8M	C$1.1M	C$1.2M	C$97.4M	C$1.2M
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$65.9M	C$1.8M	C$4.1M	C$3.2M	C$2.7M	C$3.2M	C$4.1M	C$2.7M	C$1	C$1	C$0	C$0
Total current assets	C$93.8M	C$97.4M	C$101.9M	C$105.5M	C$105.3M	C$91.5M	C$106.8M	C$98.7M	C$11.2M	C$13.0M	C$119.0M	C$18.9M
Property, plant & equipment (net)	C$639,000	C$785,000	C$254,000	C$961,000	C$1.1M	C$1.3M	C$448,000	C$965,000	C$1.0M	C$1.1M	C$1.2M	C$1.1M
Goodwill & intangible assets	C$62.4M	C$63.2M	C$64.4M	C$65.3M	C$66.7M	C$68.0M	C$69.4M	C$71.2M	C$91.1M	C$92.6M	C$99.3M	C$94.3M
Long-term investments	C$5.6M	C$5.1M	C$7.1M	C$7.1M	C$9.9M	C$9.5M	C$13.0M	C$12.3M	C$0	C$0	C$0	C$0
Other non-current assets	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$88.2M	C$100.1M	C$0	C$81.4M
Total assets	C$162.4M	C$166.6M	C$173.6M	C$178.9M	C$183.0M	C$170.2M	C$189.6M	C$183.2M	C$191.5M	C$206.8M	C$207.8M	C$195.7M
Liabilities
Accounts payable	—	—	C$3.4M	—	—	—	C$4.5M	—	—	—	C$8.5M	—
Short-term debt	C$49.8M	C$51.4M	C$51.7M	C$50.9M	C$49.0M	C$48.2M	C$48.8M	C$49.3M	—	—	C$65.5M	—
Total current liabilities	C$64.8M	C$67.4M	C$68.2M	C$67.5M	C$66.9M	C$65.7M	C$71.0M	C$74.3M	C$24.0M	C$24.7M	C$73.5M	C$23.4M
Long-term debt	C$31.1M	C$31.5M	C$31.9M	C$32.5M	C$32.9M	C$33.5M	C$35.3M	C$35.3M	C$0	C$0	C$0	C$0
Lease obligations	C$695,000	C$854,000	C$1.0M	C$1.1M	C$1.2M	C$1.4M	C$1.5M	C$2.3M	—	—	—	—
Other long-term liabilities	C$786,000	C$988,000	C$1.3M	C$1.4M	C$1.7M	C$1.9M	C$2.2M	C$3.0M	C$82.5M	C$116.0M	C$40.5M	C$81.7M
Total liabilities	C$96.7M	C$99.9M	C$101.3M	C$101.5M	C$101.4M	C$101.2M	C$108.4M	C$112.6M	C$112.9M	C$116.0M	C$114.0M	C$110.7M
Shareholders' equity
Common stock & paid-in capital	C$388.5M	C$388.7M	C$388.7M	C$388.8M	C$388.7M	C$389.7M	C$389.7M	C$389.7M	C$389.5M	C$390.5M	C$389.8M	C$389.0M
Retained earnings (deficit)	−C$360.6M	−C$359.9M	−C$354.0M	−C$348.4M	−C$343.9M	−C$357.4M	−C$345.5M	−C$355.9M	−C$347.6M	−C$336.0M	−C$331.9M	−C$339.3M
Accumulated other comprehensive income	−C$1.7M	−C$1.4M	−C$1.5M	−C$1.8M	−C$1.6M	−C$1.2M	−C$416,000	−C$430,000	C$118,919	C$274,476	C$243,019	C$458,550
Total shareholders' equity	C$65.8M	C$66.7M	C$72.3M	C$77.5M	C$81.6M	C$69.1M	C$81.2M	C$70.6M	C$78.6M	C$90.8M	C$93.7M	C$85.0M
Key figures
Total debt	C$81.5M	C$83.8M	C$84.6M	C$84.5M	C$83.0M	C$83.2M	C$85.6M	C$86.9M	C$88.0M	C$90.4M	C$117.8M	C$86.1M
Net cash (debt)	−C$54.1M	−C$55.4M	−C$52.3M	−C$48.8M	−C$44.8M	−C$57.0M	−C$51.0M	−C$64.7M	−C$78.0M	−C$78.5M	−C$61.5M	−C$68.5M
Working capital	C$29.0M	C$30.1M	C$33.7M	C$38.0M	C$38.4M	C$25.8M	C$35.8M	C$24.4M	−C$12.9M	−C$11.7M	C$45.5M	−C$4.5M
Tangible book value	C$3.3M	C$3.5M	C$8.0M	C$12.1M	C$14.9M	C$1.1M	C$11.8M	−C$593,000	−C$12.4M	−C$1.7M	−C$5.6M	−C$9.3M
Shares outstanding	23.8M	23.8M	24.0M	23.9M	24.2M	24.4M	24.4M	24.4M	17.8M	18.0M	18.4M	18.2M
Current ratio	1.45	1.45	1.49	1.56	1.57	1.39	1.50	1.33	0.46	0.53	1.62	0.81
Quick ratio	0.43	1.42	1.43	1.51	1.53	1.34	1.45	1.29	0.46	0.53	2.09	0.81
Debt / equity	1.24	1.26	1.17	1.09	1.02	1.20	1.05	1.23	1.12	0.99	1.26	1.01
Equity / assets	40.5%	40.1%	41.7%	43.3%	44.6%	40.6%	42.8%	38.5%	41.1%	43.9%	45.1%	43.4%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed December 31, 2025); data from EODHD.

ORIO financial position

At the end of fiscal 2025 (December 31, 2025), Orion Digital had total assets of C$173.6 million (down 8.4% from a year earlier), total liabilities of C$101.3 million and shareholders' equity of C$72.3 million. It held C$32.3 million in cash and short-term investments against C$84.6 million of debt, net debt of C$52.3 million. Its current ratio was 1.49. In the latest quarter (ended June 30, 2026) total assets were C$162.4 million and equity C$65.8 million.

Related: ORIO income statement, ORIO cash flow statement, ORIO key metrics. See the ORIO stock overview for the latest quote and news.

ORIO balance sheet FAQ

What are Orion Digital's total assets?

Orion Digital reported total assets of C$173.6 million at the end of fiscal 2025 (December 31, 2025), compared with C$189.6 million a year earlier.

How much debt does Orion Digital have?

Orion Digital had C$84.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.17.

How much cash does Orion Digital have?

Orion Digital held C$32.3 million in cash and short-term investments at the end of fiscal 2025; with C$84.6 million of debt that is net debt of C$52.3 million.

What is Orion Digital's book value?

Orion Digital's shareholders' equity (book value) was C$72.3 million at the end of fiscal 2025.

What is Orion Digital's current ratio?

Orion Digital had current assets of C$101.9 million and current liabilities of C$68.2 million, a current ratio of 1.49 (it can cover its short-term obligations).

How much goodwill does Orion Digital have?

Orion Digital carried C$64.4 million of goodwill and intangible assets, 37.1% of total assets, at the end of fiscal 2025.