Overseas Shipholding Group, Inc. (OSG) Balance Sheet
OSG balance sheet, 2025
December 31, 2025 · U.S. dollars$2.22B assets = $1.14B liabilities + $1.09B equity
Both columns are drawn to the same scale: what OSG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OSG financial health
Descriptive bands, not a rating. Fiscal 2025.
OSG balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $22.64B2016 | $2.22B2025 | −22.7%/yr | |
| Total liabilities | $20.66B2016 | $1.14B2025 | −27.5%/yr | |
| Shareholders’ equity | $1.71B2016 | $715.8M2025 | −9.2%/yr | |
| Cash & short-term investments | $521.8M2016 | $337.2M2025 | −4.7%/yr | |
| Total debt | $12.27B2016 | $117.6M2025 | −40.3%/yr | |
| Net cash (debt) | −$11.75B2016 | $219.6M2025 | +$12.0B | |
| Working capital | $479.3M2016 | $171.4M2025 | −$307.9M | |
| Book value per share | $37.482016 | $15.172025 | −9.6%/yr | |
| Debt / equity | 7.162016 | 0.162025 | −7.00 | |
| Shares outstanding | 45.7M2016 | 47.2M2025 | +0.3%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OSG assets
OSG liabilities and equity
OSG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OSG balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $337.2M | $331.9M | $355.0M | $1.93B | $1.85B | $2.83B | $3.25B | $493.4M | $1.18B | $521.8M |
| Cash & equivalents | $68.4M | $47.3M | $19.2M | $30.0M | $17.0M | $20.0M | $24.0M | $63.1M | $623.7M | $91.0M |
| Short-term investments | $268.7M | $284.6M | $335.7M | $1.90B | $1.83B | $2.81B | $3.23B | $3.55B | $5.21B | $5.99B |
| Receivables | $597.7M | $418.8M | $220.3M | $655.0M | $2.47B | $2.56B | $2.47B | $2.50B | $1.28B | $1.38B |
| Inventory | $0 | $0 | $1.9M | −$1.76B | −$3.21B | $2.3M | −$4.02B | −$3.51B | −$8.37B | −$9.39B |
| Other current assets | $146.4M | $148.3M | $0 | $1.78B | $3.21B | $0 | $4.04B | $6.63B | $7.09B | $8.01B |
| Total current assets | $1.08B | $899.0M | $114.6M | $2.60B | $4.32B | $88.7M | $5.74B | $6.11B | $1.18B | $521.8M |
| Property, plant & equipment (net) | $0 | $18.1M | $871.7M | $21.0M | $23.0M | $25.0M | $25.0M | $6.79B | −$285.1M | −$523.7M |
| Goodwill & intangible assets | $1.03B | $763.0M | $131.1M | $387.0M | $408.0M | $455.0M | $427.0M | $718.9M | $847.0M | $962.1M |
| Long-term investments | $268.7M | $284.6M | $335.7M | $3.93B | $5.60B | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $6.09B | $6.98B | $1.04B | $1.95B | $12.65B | $7.13B | $968.4M | $21.45B | $21.68B |
| Total assets | $2.22B | $8.06B | $8.43B | $7.97B | $12.30B | $13.22B | $13.32B | $14.59B | $23.19B | $22.64B |
| Liabilities | ||||||||||
| Accounts payable | $80.6M | $53.0M | $29.7M | $39.0M | $33.0M | $27.0M | $29.0M | $33.0M | $37.9M | $42.5M |
| Short-term debt | $2.5M | $150.0M | $173.8M | $670.0M | $790.0M | $228.1M | $219.8M | $23.2M | $28.2M | — |
| Deferred revenue | $187.2M | — | $15.8M | −$631.0M | −$757.0M | $8.7M | −$506.0M | $6.7M | $5.2M | −$39.8M |
| Total current liabilities | $909.8M | $205.6M | $169.5M | $39.0M | $33.0M | $181.6M | $29.0M | $32.9M | $37.9M | $42.5M |
| Long-term debt | $117.6M | $0 | $3.48B | $3.75B | $6.45B | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $109.7M | $6.66B | $3.52B | $2.90B | $0 | $12.07B | $7.41B | $2.93B | $21.55B | $20.66B |
| Total liabilities | $1.14B | $6.86B | $7.00B | $6.65B | $11.19B | $12.07B | $11.78B | $12.96B | $21.55B | $20.66B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $489,000 | $489,000 | $467,000 | $883,000 | $872,000 | $864,000 | $857,000 | $454,000 | $453,000 | $452,000 |
| Retained earnings (deficit) | $370.4M | $742.2M | $1.25B | $1.25B | $726.0M | $759.0M | $1.20B | $1.42B | $1.23B | $1.56B |
| Accumulated other comprehensive income | $8.5M | −$188.4M | −$160.0M | −$253.0M | $58.0M | $79.0M | $42.0M | −$48.7M | −$52.2M | −$39.0M |
| Minority interest | $370.4M | $397.2M | $70.0M | $73.0M | — | — | — | — | — | — |
| Total shareholders' equity | $715.8M | $856.9M | $1.36B | $1.25B | $1.04B | $1.08B | $1.48B | $1.59B | $1.38B | $1.71B |
| Key figures | ||||||||||
| Total debt | $117.6M | $150.0M | $3.48B | $3.75B | $6.45B | $7.23B | $7.38B | $8.20B | $13.15B | $12.27B |
| Net cash (debt) | $219.6M | $181.9M | −$3.12B | −$1.81B | −$4.59B | −$4.40B | −$4.12B | −$7.70B | −$11.97B | −$11.75B |
| Working capital | $171.4M | $693.4M | −$54.9M | $2.56B | $4.29B | −$92.9M | $5.71B | $6.08B | $1.14B | $479.3M |
| Tangible book value | −$309.3M | $93.9M | $1.23B | $865.0M | $630.0M | $625.0M | $1.05B | $873.1M | $534.2M | $751.8M |
| Book value per share | $15.17 | $18.24 | $29.84 | $26.97 | $22.31 | $23.40 | $32.14 | $34.19 | $30.44 | $37.48 |
| Shares outstanding | 47.2M | 47.0M | 45.6M | 46.4M | 46.5M | 46.1M | 46.0M | 46.6M | 45.4M | 45.7M |
| Current ratio | 1.19 | 4.37 | 0.68 | 66.69 | 130.97 | 0.49 | 197.79 | 185.67 | 31.18 | 12.27 |
| Quick ratio | 1.03 | 3.65 | 3.39 | 66.33 | 130.97 | 29.67 | 197.41 | 90.89 | 65.01 | 44.68 |
| Debt / equity | 0.16 | 0.18 | 2.55 | 2.99 | 6.21 | 6.70 | 4.99 | 5.15 | 9.52 | 7.16 |
| Equity / assets | 32.2% | 10.6% | 16.2% | 15.7% | 8.4% | 8.2% | 11.1% | 10.9% | 6.0% | 7.6% |
| 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 | $295.8M | $322.9M | $337.2M | $478.7M | $310.4M | $314.8M | $331.9M | $2.19B | $2.04B | $2.19B | $355.0M | $2.01B |
| Cash & equivalents | $79.1M | $93.5M | $68.4M | $51.8M | $46.4M | $51.7M | $47.3M | $54.0M | $24.0M | $33.0M | $19.2M | $33.0M |
| Short-term investments | $216.7M | $229.4M | $268.7M | $426.9M | $264.1M | $263.2M | $284.6M | $2.14B | $2.02B | $2.16B | $335.7M | $1.98B |
| Receivables | $195.2M | $663.7M | $597.7M | $590.7M | $520.9M | $481.5M | $418.8M | $777.0M | $722.0M | $653.0M | $220.3M | $629.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.7M | $662,000 | $3.2M |
| Other current assets | $0 | $145.4M | $146.4M | $160.9M | $155.6M | $144.9M | $148.3M | — | — | $0 | $0 | $0 |
| Total current assets | $307.9M | $1.13B | $1.08B | $1.23B | $987.0M | $941.2M | $899.0M | — | — | $116.0M | $114.6M | $131.2M |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $18.1M | $0 | $0 | $888.3M | $18.4M | $866.5M |
| Goodwill & intangible assets | $981.8M | $1.01B | $1.03B | $793.9M | $815.1M | $784.0M | $763.0M | $1.03B | $355.0M | $363.0M | $131.1M | $382.0M |
| Long-term investments | $216.7M | $229.4M | $268.7M | $426.9M | $264.1M | $263.2M | $284.6M | $4.28B | $0 | $0 | $0 | $0 |
| Other non-current assets | $774.6M | $0 | $0 | $0 | $6.46B | $6.26B | $6.09B | $3.94B | $7.83B | $7.06B | $8.16B | $6.47B |
| Total assets | $2.28B | $2.27B | $2.22B | $2.15B | $8.52B | $8.25B | $8.06B | $9.26B | $8.18B | $8.43B | $8.43B | $7.85B |
| Liabilities | ||||||||||||
| Accounts payable | $93.3M | $89.1M | $80.6M | $87.6M | $90.6M | $81.4M | $53.0M | $165.0M | $140.0M | $110.0M | $29.7M | $95.0M |
| Short-term debt | — | — | $2.5M | $0 | $150.0M | $150.0M | $150.0M | $148.0M | — | $185.8M | $173.8M | $177.8M |
| Deferred revenue | — | $198.7M | $187.2M | $197.1M | $191.1M | $181.4M | — | — | — | −$53.2M | $15.8M | −$49.1M |
| Total current liabilities | $982.4M | $955.0M | $909.8M | $900.5M | $987.4M | $939.3M | $205.6M | — | — | $174.1M | $169.5M | $159.6M |
| Long-term debt | $155.5M | $117.1M | $117.6M | $0 | $0 | $0 | $0 | $3.51B | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $466.1M | $165.4M | $109.7M | $100.0M | $6.32B | $6.10B | $6.66B | $3.87B | $6.75B | $6.99B | $7.00B | $6.13B |
| Total liabilities | $1.27B | $1.24B | $1.14B | $1.00B | $7.30B | $7.04B | $6.86B | $7.38B | $6.75B | $6.99B | $7.00B | $6.51B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $489,000 | $489,000 | $489,000 | $489,000 | $489,000 | $489,000 | $489,000 | — | — | $903,000 | $467,000 | $895,000 |
| Retained earnings (deficit) | $348.5M | $363.8M | $370.4M | $491.7M | $607.5M | $681.5M | $742.2M | $1.24B | $1.26B | $1.27B | $1.25B | $1.26B |
| Accumulated other comprehensive income | $3.3M | $1.2M | $8.5M | $11.8M | −$66.0M | −$133.2M | −$188.4M | −$81.0M | −$175.0M | −$175.0M | −$160.0M | −$262.0M |
| Minority interest | $316.6M | $316.9M | $370.4M | $304.0M | $358.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $698.8M | $712.6M | $715.8M | $843.4M | $859.8M | $852.2M | $856.9M | $1.47B | $1.37B | $1.36B | $1.36B | $1.26B |
| Key figures | ||||||||||||
| Total debt | $155.5M | $117.1M | $117.6M | $0 | $150.0M | $150.0M | $150.0M | $3.66B | $3.37B | $3.44B | $3.48B | $3.20B |
| Net cash (debt) | $140.3M | $205.9M | $219.6M | $478.7M | $160.4M | $164.8M | $181.9M | −$1.47B | −$1.32B | −$1.24B | −$3.12B | −$1.19B |
| Working capital | −$674.5M | $177.0M | $171.4M | $329.8M | −$449,000 | $1.9M | $693.4M | — | — | −$58.2M | −$54.9M | −$28.4M |
| Tangible book value | −$283.0M | −$295.7M | −$309.3M | $49.5M | $44.7M | $68.2M | $93.9M | $433.0M | $1.01B | $1.00B | $1.23B | $883.0M |
| Book value per share | $15.41 | $15.73 | $15.85 | $17.53 | $17.87 | $18.01 | $17.80 | $30.72 | $29.60 | $29.45 | $29.87 | $27.02 |
| Shares outstanding | 45.3M | 45.3M | 45.1M | 48.1M | 48.1M | 47.3M | 48.1M | 47.7M | 46.2M | 46.3M | 45.6M | 46.8M |
| Current ratio | 0.31 | 1.19 | 1.19 | 1.37 | 1.00 | 1.00 | 4.37 | — | — | 0.67 | 0.68 | 0.82 |
| Quick ratio | 0.50 | 1.03 | 1.03 | 1.19 | 0.84 | 0.85 | 3.65 | — | — | 16.35 | 3.39 | 16.54 |
| Debt / equity | 0.22 | 0.16 | 0.16 | 0.00 | 0.17 | 0.18 | 0.18 | 2.50 | 2.46 | 2.52 | 2.55 | 2.53 |
| Equity / assets | 30.6% | 31.4% | 32.2% | 39.3% | 10.1% | 10.3% | 10.6% | 15.8% | 16.7% | 16.2% | 16.2% | 16.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 4, 2026); data from EODHD.
OSG financial position
At the end of fiscal 2025 (December 31, 2025), Overseas Shipholding had total assets of $2.2 billion (down 72.4% from a year earlier), total liabilities of $1.1 billion and shareholders' equity of $715.8 million. It held $337.2 million in cash and short-term investments against $117.6 million of debt, a net cash position of $219.6 million. Its current ratio was 1.19. In the latest quarter (ended June 30, 2026) total assets were $2.3 billion and equity $698.8 million.
Related: OSG income statement, OSG cash flow statement, OSG key metrics. See the OSG stock overview for the latest quote and news.
OSG balance sheet FAQ
What are Overseas Shipholding's total assets?
Overseas Shipholding reported total assets of $2.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $8.1 billion a year earlier.
How much debt does Overseas Shipholding have?
Overseas Shipholding had $117.6 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.16.
How much cash does Overseas Shipholding have?
Overseas Shipholding held $337.2 million in cash and short-term investments at the end of fiscal 2025; with $117.6 million of debt that is net cash of $219.6 million.
What is Overseas Shipholding's book value?
Overseas Shipholding's shareholders' equity (book value) was $715.8 million at the end of fiscal 2025, or $15.17 per share.
What is Overseas Shipholding's current ratio?
Overseas Shipholding had current assets of $1.1 billion and current liabilities of $909.8 million, a current ratio of 1.19 (it can cover its short-term obligations).
How much goodwill does Overseas Shipholding have?
Overseas Shipholding carried $1.0 billion of goodwill and intangible assets, 46.1% of total assets, at the end of fiscal 2025.