Oatly Group AB (OTLY) Balance Sheet
OTLY balance sheet, 2025
December 31, 2025 · U.S. dollars$787.2M assets = $767.5M liabilities + $19.7M equity
Both columns are drawn to the same scale: what OTLY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
OTLY financial health
Descriptive bands, not a rating. Fiscal 2025.
OTLY balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $349.2M2019 | $787.2M2025 | +14.5%/yr | |
| Total liabilities | $161.4M2019 | $767.5M2025 | +29.7%/yr | |
| Shareholders’ equity | $187.8M2019 | $18.6M2025 | −32.0%/yr | |
| Cash & short-term investments | $10.6M2019 | $64.3M2025 | +35.1%/yr | |
| Total debt | $102.6M2019 | $560.2M2025 | +32.7%/yr | |
| Net cash (debt) | −$92.0M2019 | −$495.9M2025 | −$403.9M | |
| Working capital | −$1.5M2019 | −$292.1M2025 | −$290.6M | |
| Book value per share | $6.352019 | $0.612025 | −32.3%/yr | |
| Current ratio | 0.982019 | 0.482025 | −0.51 | |
| Debt / equity | 0.552019 | 30.192025 | +29.65 | |
| Shares outstanding | 29.6M2019 | 30.4M2025 | +0.4%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
OTLY assets
OTLY liabilities and equity
OTLY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
OTLY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $64.3M | $98.9M | $249.3M | $82.6M | $545.5M | $105.4M | $10.6M |
| Cash & equivalents | $64.3M | $98.9M | $249.3M | $82.6M | $295.6M | $105.4M | $10.6M |
| Short-term investments | — | — | — | $0 | $249.9M | $0 | — |
| Receivables | $121.4M | $124.0M | $147.5M | $115.9M | $134.3M | $71.3M | $48.7M |
| Inventory | $68.5M | $65.6M | $67.9M | $114.5M | $95.7M | $39.1M | $28.8M |
| Other current assets | $10.9M | $10.6M | $18.7M | $169.2M | $31.6M | $24.4M | $6.8M |
| Total current assets | $265.2M | $299.1M | $483.4M | $482.3M | $807.1M | $240.2M | $94.9M |
| Property, plant & equipment (net) | $332.6M | $339.7M | $448.7M | $601.5M | $668.1M | $275.7M | $120.0M |
| Goodwill & intangible assets | $137.7M | $116.2M | $130.3M | $127.7M | $145.9M | $156.5M | $130.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $51.7M | $48.9M | $54.6M | $13.7M | $7.8M | $6.6M | $3.8M |
| Total assets | $787.2M | $804.0M | $1.12B | $1.23B | $1.63B | $678.9M | $349.2M |
| Liabilities | |||||||
| Accounts payable | $66.5M | $60.2M | $64.4M | $82.5M | $93.0M | $45.3M | $30.0M |
| Short-term debt | $352.7M | $343.5M | $346.0M | $66.7M | $22.7M | $117.9M | $38.3M |
| Deferred revenue | — | — | −$2.7M | −$5.5M | $118.0M | −$850,158 | $28.2M |
| Total current liabilities | $557.3M | $535.1M | $583.7M | $341.9M | $243.4M | $228.6M | $96.4M |
| Long-term debt | $182.8M | $116.2M | $114.2M | $2.7M | $0 | $91.7M | $40.4M |
| Lease obligations | $37.2M | $45.1M | $89.0M | $99.1M | $143.2M | $30.1M | $28.9M |
| Other long-term liabilities | $27.4M | $46.6M | $83.3M | $89.5M | $140.2M | $32.5M | $24.6M |
| Total liabilities | $767.5M | $697.9M | $781.2M | $434.1M | $383.6M | $352.8M | $161.4M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $110,000 | $106,000 | $105,000 | $105,000 | $105,000 | $21,000 | $19,000 |
| Retained earnings (deficit) | −$1.40B | −$1.25B | −$1.06B | −$665.5M | −$308.4M | −$119.7M | −$60.3M |
| Accumulated other comprehensive income | −$225.4M | −$274.2M | −$233.2M | −$171.5M | −$74.5M | −$2.5M | −$19.7M |
| Minority interest | $1.1M | $1.4M | $1.8M | $0 | — | — | — |
| Total shareholders' equity | $18.6M | $104.7M | $334.0M | $791.1M | $1.25B | $326.1M | $187.8M |
| Key figures | |||||||
| Total debt | $560.2M | $491.5M | $532.8M | $151.7M | $149.2M | $233.4M | $102.6M |
| Net cash (debt) | −$495.9M | −$392.5M | −$283.5M | −$69.1M | $396.3M | −$128.1M | −$92.0M |
| Working capital | −$292.1M | −$235.9M | −$100.3M | $140.3M | $563.7M | $11.5M | −$1.5M |
| Tangible book value | −$119.2M | −$11.5M | $203.7M | $663.5M | $1.10B | $169.6M | $57.3M |
| Book value per share | $0.61 | $3.51 | $11.25 | $26.73 | $45.36 | $11.02 | $6.35 |
| Shares outstanding | 30.4M | 29.8M | 29.7M | 29.6M | 27.5M | 29.6M | 29.6M |
| Current ratio | 0.48 | 0.56 | 0.83 | 1.41 | 3.32 | 1.05 | 0.98 |
| Quick ratio | 0.33 | 0.42 | 0.68 | 0.58 | 2.79 | 0.77 | 0.62 |
| Debt / equity | 30.19 | 4.69 | 1.60 | 0.19 | 0.12 | 0.72 | 0.55 |
| Equity / assets | 2.4% | 13.0% | 29.9% | 64.6% | 76.4% | 48.0% | 53.8% |
| 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 | $44.6M | $49.4M | $58.9M | $58.9M | $67.9M | $74.4M | $98.9M | $119.3M | $142.7M | $209.0M | $249.3M | $283.2M |
| Cash & equivalents | $44.6M | $49.4M | $58.9M | $58.9M | $67.9M | $74.4M | $98.9M | $119.3M | $142.7M | $209.0M | $249.3M | $283.2M |
| Receivables | $115.1M | $110.4M | $121.5M | $121.5M | $126.5M | $117.7M | $124.0M | $117.7M | $123.7M | $130.0M | $147.5M | $132.1M |
| Inventory | $73.2M | $76.8M | $63.8M | $63.8M | $65.9M | $64.8M | $65.6M | $83.0M | $79.8M | $76.8M | $69.7M | $83.5M |
| Other current assets | $12.2M | $16.0M | $14.3M | $14.3M | $11.2M | $14.2M | $10.6M | $12.3M | $15.0M | $15.6M | $16.9M | $18.9M |
| Total current assets | $245.2M | $252.6M | $258.4M | $258.4M | $271.5M | $271.1M | $299.1M | $332.4M | $361.3M | $431.5M | $483.4M | $517.6M |
| Property, plant & equipment (net) | $315.1M | $319.3M | $340.1M | $340.1M | $348.1M | $346.5M | $339.7M | $408.4M | $399.5M | $429.7M | $448.7M | $606.5M |
| Goodwill & intangible assets | $251.6M | $132.0M | $134.4M | $134.4M | $133.6M | $126.8M | $116.2M | $127.1M | $121.2M | $120.7M | $130.3M | $121.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $53.3M | $46.7M | $46.7M | $49.8M | $48.6M | $48.9M | $52.9M | $49.9M | $56.0M | $54.6M | $62.6M |
| Total assets | $744.0M | $757.2M | $779.6M | $779.6M | $803.1M | $793.0M | $804.0M | $920.8M | $931.9M | $1.04B | $1.12B | $1.31B |
| Liabilities | ||||||||||||
| Accounts payable | $74.6M | $68.5M | $70.9M | $70.9M | $64.7M | $52.1M | $60.2M | $57.3M | $47.2M | $46.3M | $64.4M | $59.4M |
| Short-term debt | $356.4M | $349.6M | $404.2M | $404.2M | $347.4M | $329.7M | $343.5M | $340.2M | $336.8M | $354.6M | $346.0M | $306.5M |
| Deferred revenue | — | — | — | — | — | — | — | — | $17,311 | −$2.7M | $2.7M | −$1.9M |
| Total current liabilities | $574.9M | $555.3M | $610.4M | $610.4M | $551.8M | $513.0M | $535.1M | $536.7M | $531.2M | $578.7M | $583.7M | $511.5M |
| Long-term debt | $173.4M | $175.7M | $182.8M | $116.3M | $115.7M | $115.7M | $116.2M | $115.1M | $115.5M | $115.3M | $114.2M | $115.3M |
| Lease obligations | $31.3M | $33.9M | $37.2M | $39.9M | $43.0M | $43.9M | $45.1M | $50.2M | $51.5M | $85.0M | $89.0M | $98.7M |
| Other long-term liabilities | $19.3M | $21.7M | $0 | $33.0M | $38.8M | $42.4M | $46.6M | $37.9M | $39.3M | $70.5M | $83.3M | $89.9M |
| Total liabilities | $767.5M | $752.7M | $759.7M | $759.7M | $706.3M | $671.1M | $697.9M | $689.6M | $686.0M | $764.5M | $781.2M | $716.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $112,000 | $110,000 | $107,000 | $107,000 | $107,000 | $106,000 | $106,000 | $105,997 | $106,000 | $105,000 | $105,000 | $105,000 |
| Retained earnings (deficit) | −$1.43B | −$1.41B | −$1.37B | −$1.37B | −$1.31B | −$1.26B | −$1.25B | −$1.16B | −$1.13B | −$1.10B | −$1.06B | −$767.0M |
| Accumulated other comprehensive income | −$231.5M | −$231.2M | −$236.8M | −$236.8M | −$222.1M | −$249.5M | −$274.2M | −$237.0M | −$253.6M | −$252.4M | −$233.2M | −$271.9M |
| Minority interest | $972,000 | $1.0M | $1.1M | $1.2M | $1.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | −$24.5M | $3.5M | $18.7M | $18.7M | $95.4M | $120.5M | $104.7M | $229.6M | $244.2M | $271.6M | $334.0M | $589.3M |
| Key figures | ||||||||||||
| Total debt | $549.1M | $547.0M | $547.6M | $547.6M | $492.6M | $475.9M | $491.5M | $491.4M | $490.0M | $538.9M | $532.8M | $505.7M |
| Net cash (debt) | −$504.4M | −$497.6M | −$488.7M | −$488.7M | −$424.7M | −$401.5M | −$392.5M | −$372.1M | −$347.2M | −$329.8M | −$283.5M | −$222.6M |
| Working capital | −$329.7M | −$302.7M | −$352.0M | −$352.0M | −$280.3M | −$241.9M | −$235.9M | −$204.3M | −$169.9M | −$147.2M | −$100.3M | $6.2M |
| Tangible book value | −$276.0M | −$128.5M | −$115.7M | −$115.7M | −$38.2M | −$6.3M | −$11.5M | $102.4M | $123.0M | $150.9M | $203.7M | $468.2M |
| Book value per share | −$0.78 | $0.11 | $0.62 | $0.62 | $3.17 | $4.03 | $3.50 | $7.68 | $8.19 | $9.13 | $11.23 | $19.84 |
| Shares outstanding | 31.5M | 31.2M | 30.1M | 30.1M | 30.1M | 29.9M | 29.9M | 29.9M | 29.8M | 29.7M | 29.7M | 29.7M |
| Current ratio | 0.43 | 0.45 | 0.42 | 0.42 | 0.49 | 0.53 | 0.56 | 0.62 | 0.68 | 0.75 | 0.83 | 1.01 |
| Quick ratio | 0.28 | 0.29 | 0.30 | 0.30 | 0.35 | 0.37 | 0.42 | 0.44 | 0.50 | 0.59 | 0.68 | 0.81 |
| Debt / equity | — | 154.83 | 29.30 | 29.30 | 5.16 | 3.95 | 4.69 | 2.14 | 2.01 | 1.98 | 1.60 | 0.86 |
| Equity / assets | −3.3% | 0.5% | 2.4% | 2.4% | 11.9% | 15.2% | 13.0% | 24.9% | 26.2% | 26.2% | 29.9% | 45.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
OTLY financial position
At the end of fiscal 2025 (December 31, 2025), Oatly Group AB had total assets of $787.2 million (down 2.1% from a year earlier), total liabilities of $767.5 million and shareholders' equity of $18.6 million. It held $64.3 million in cash and short-term investments against $560.2 million of debt, net debt of $495.9 million. Its current ratio was 0.48. In the latest quarter (ended June 30, 2026) total assets were $744.0 million and equity -$24.5 million.
Related: OTLY income statement, OTLY cash flow statement, OTLY key metrics. See the OTLY stock overview for the latest quote and news.
OTLY balance sheet FAQ
What are Oatly Group AB's total assets?
Oatly Group AB reported total assets of $787.2 million at the end of fiscal 2025 (December 31, 2025), compared with $804.0 million a year earlier.
How much debt does Oatly Group AB have?
Oatly Group AB had $560.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 30.19.
How much cash does Oatly Group AB have?
Oatly Group AB held $64.3 million in cash and short-term investments at the end of fiscal 2025; with $560.2 million of debt that is net debt of $495.9 million.
What is Oatly Group AB's book value?
Oatly Group AB's shareholders' equity (book value) was $18.6 million at the end of fiscal 2025, or $0.61 per share.
What is Oatly Group AB's current ratio?
Oatly Group AB had current assets of $265.2 million and current liabilities of $557.3 million, a current ratio of 0.48 (current liabilities exceed current assets).
How much goodwill does Oatly Group AB have?
Oatly Group AB carried $137.7 million of goodwill and intangible assets, 17.5% of total assets, at the end of fiscal 2025.