Pearl Diver Credit Company Inc. (PDPA) Balance Sheet
PDPA balance sheet, 2025
December 31, 2025 · U.S. dollars$141.3M assets = $9.2M liabilities + $132.1M equity
Both columns are drawn to the same scale: what PDPA owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PDPA financial health
Descriptive bands, not a rating. Fiscal 2025.
PDPA balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $96.5M2023 | $141.3M2025 | +21.0%/yr | |
| Total liabilities | $18,7642023 | $9.2M2025 | +2,116.0%/yr | |
| Shareholders’ equity | $96.4M2023 | $132.1M2025 | +17.0%/yr | |
| Cash & short-term investments | $19.5M2023 | $1.0M2025 | −77.0%/yr | |
| Total debt | $6.6M2024 | $6.9M2025 | +4.4%/yr | |
| Net cash (debt) | −$6.4M2024 | −$5.9M2025 | +$549,766 | |
| Working capital | $19.5M2023 | −$5.9M2025 | −$25.3M | |
| Book value per share | $12.582023 | $18.982025 | +22.8%/yr | |
| Current ratio | 1,038.542023 | 0.152025 | −1038.39 | |
| Debt / equity | 0.052024 | 0.052025 | 0.00 | |
| Shares outstanding | 7.7M2023 | 7.0M2025 | −4.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PDPA assets
PDPA liabilities and equity
PDPA debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PDPA balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $1.0M | $188,056 | $19.5M |
| Cash & equivalents | $99,688 | $188,056 | $19.5M |
| Short-term investments | $928,440 | — | — |
| Receivables | $18,557 | $42,045 | $0 |
| Inventory | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 |
| Total current assets | $1.0M | $230,101 | $19.5M |
| Property, plant & equipment (net) | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 |
| Long-term investments | $140.9M | $178.8M | $77.0M |
| Other non-current assets | $0 | $66,398 | $0 |
| Total assets | $141.3M | $179.1M | $96.5M |
| Liabilities | |||
| Accounts payable | — | $6.3M | — |
| Short-term debt | $6.9M | $6.6M | — |
| Total current liabilities | $6.9M | $6.3M | $18,764 |
| Long-term debt | $0 | $0 | $0 |
| Other long-term liabilities | $2.3M | $37.6M | $18,764 |
| Total liabilities | $9.2M | $43.9M | $18,764 |
| Shareholders' equity | |||
| Common stock & paid-in capital | $6,835 | $6,796 | — |
| Retained earnings (deficit) | −$36.6M | $1.5M | — |
| Total shareholders' equity | $132.1M | $135.2M | $96.4M |
| Key figures | |||
| Total debt | $6.9M | $6.6M | — |
| Net cash (debt) | −$5.9M | −$6.4M | — |
| Working capital | −$5.9M | −$6.0M | $19.5M |
| Tangible book value | $132.1M | $135.2M | $96.4M |
| Book value per share | $18.98 | $16.91 | $12.58 |
| Shares outstanding | 7.0M | 8.0M | 7.7M |
| Current ratio | 0.15 | 0.04 | 1,038.54 |
| Quick ratio | 0.15 | 0.04 | 1,038.54 |
| Debt / equity | 0.05 | 0.05 | — |
| Equity / assets | 93.5% | 75.5% | 100.0% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Dec '24 | Jun '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $3.2M | $763,389 | $99,688 | $2.8M | $177,000 | $29.9M | $45,924 |
| Cash & equivalents | $25,088 | $64,934 | $99,688 | $43,618 | $177,000 | $188,056 | $45,924 |
| Short-term investments | $3.2M | $698,455 | — | $2.8M | — | $29.7M | — |
| Receivables | $24,653 | $21,800 | $0 | $21,637 | $104,993 | $42,045 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $0 | $0 | $2 | — | $0 |
| Total current assets | $3.2M | $785,189 | $99,688 | $2.8M | $281,995 | — | $45,924 |
| Property, plant & equipment (net) | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $116.2M | $0 | $140.9M | $0 | $165.8M | $0 | $88.6M |
| Other non-current assets | $0 | $112.0M | $379,908 | $154.7M | $24,687 | $179.1M | $0 |
| Total assets | $116.9M | $112.8M | $141.3M | $157.5M | $166.1M | $179.1M | $88.6M |
| Liabilities | |||||||
| Accounts payable | — | — | — | — | $348,000 | $6.3M | — |
| Short-term debt | $4.7M | $5.8M | — | $6.9M | — | $6.6M | — |
| Total current liabilities | $4.7M | $5.8M | $1.9M | $6.9M | $348,000 | $6.3M | $1.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.2M | $1.3M | $40.9M | $2.2M | $42.2M | $37.6M | $1.8M |
| Total liabilities | $5.9M | $7.2M | $42.8M | $9.1M | $42.5M | $43.9M | $1.8M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $6,936 | $6,870 | $6,835 | $6,804 | $6,796 | $6,796 | — |
| Retained earnings (deficit) | −$59.0M | −$63.6M | −$36.6M | −$14.4M | −$10.1M | $1.5M | −$9.6M |
| Total shareholders' equity | $111.0M | $105.6M | $98.6M | $148.4M | $123.6M | $164.2M | $86.8M |
| Key figures | |||||||
| Total debt | $4.7M | $5.8M | $6.9M | $6.9M | $7.0M | $6.6M | — |
| Net cash (debt) | −$1.5M | −$5.1M | −$6.8M | −$4.1M | −$6.8M | $23.3M | — |
| Working capital | −$1.5M | −$5.1M | −$1.8M | −$4.1M | −$66,005 | — | −$1.7M |
| Tangible book value | $111.0M | $105.6M | $98.6M | $148.4M | $123.6M | $164.2M | $86.8M |
| Book value per share | $16.06 | $12.80 | $14.38 | $22.09 | $18.36 | $20.53 | $11.33 |
| Shares outstanding | 6.9M | 8.2M | 6.9M | 6.7M | 6.7M | 8.0M | 7.7M |
| Current ratio | 0.68 | 0.13 | 0.05 | 0.41 | 0.81 | — | 0.03 |
| Quick ratio | 0.68 | 0.13 | 0.05 | 0.41 | 0.81 | 4.79 | 0.03 |
| Debt / equity | 0.04 | 0.06 | 0.07 | 0.05 | 0.06 | 0.04 | — |
| Equity / assets | 94.9% | 93.7% | 69.7% | 94.2% | 74.4% | 91.7% | 98.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
PDPA financial position
At the end of fiscal 2025 (December 31, 2025), Pearl Diver Credit had total assets of $141.3 million (down 21.1% from a year earlier), total liabilities of $9.2 million and shareholders' equity of $132.1 million. It held $1.0 million in cash and short-term investments against $6.9 million of debt, net debt of $5.9 million. Its current ratio was 0.15. In the latest quarter (ended June 30, 2026) total assets were $116.9 million and equity $111.0 million.
Related: PDPA income statement, PDPA cash flow statement, PDPA key metrics. See the PDPA stock overview for the latest quote and news.
PDPA balance sheet FAQ
What are Pearl Diver Credit's total assets?
Pearl Diver Credit reported total assets of $141.3 million at the end of fiscal 2025 (December 31, 2025), compared with $179.1 million a year earlier.
How much debt does Pearl Diver Credit have?
Pearl Diver Credit had $6.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.05.
How much cash does Pearl Diver Credit have?
Pearl Diver Credit held $1.0 million in cash and short-term investments at the end of fiscal 2025; with $6.9 million of debt that is net debt of $5.9 million.
What is Pearl Diver Credit's book value?
Pearl Diver Credit's shareholders' equity (book value) was $132.1 million at the end of fiscal 2025, or $18.98 per share.
What is Pearl Diver Credit's current ratio?
Pearl Diver Credit had current assets of $1.0 million and current liabilities of $6.9 million, a current ratio of 0.15 (current liabilities exceed current assets).