PhenixFIN Corporation (PFX) Balance Sheet

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

PFX balance sheet, FY2025

September 30, 2025 · U.S. dollars

$316.9M assets = $156.1M liabilities + $160.8M equity

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

PFX financial health

Current ratio1.30

Adequate · current assets cover current liabilities 1.30×

Debt / equity0.92

Moderate leverage · $0.92 of debt for each $1 of equity

Equity / assets50.7%

Equity-funded · of assets funded by shareholders

Cash / debt4.9%

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

Goodwill & intangibles0.0%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal FY2025.

PFX balance sheet trends, FY2016–FY2025

PhenixFIN Corporation balance sheet trends
Metric	Then	Latest	Change
Total assets	$1.03BFY2016	$316.9MFY2025	−12.3%/yr
Total liabilities	$514.0MFY2016	$156.1MFY2025	−12.4%/yr
Shareholders’ equity	$516.9MFY2016	$160.8MFY2025	−12.2%/yr
Cash & short-term investments	$104.5MFY2016	$7.3MFY2025	−25.6%/yr
Total debt	$501.6MFY2016	$148.0MFY2025	−12.7%/yr
Net cash (debt)	−$397.1MFY2016	−$140.7MFY2025	+$256.4M
Working capital	$111.2MFY2016	$1.7MFY2025	−$109.5M
Book value per share	$186.61FY2016	$79.79FY2025	−9.0%/yr
Current ratio	26.40FY2016	1.30FY2025	−25.10
Debt / equity	0.97FY2016	0.92FY2025	−0.05
Shares outstanding	2.8MFY2016	2.0MFY2025	−3.5%/yr

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

PFX assets

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

PFX liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PFX debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

PFX balance sheet

PhenixFIN Corporation annual balance sheet
	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016
Assets
Cash & short-term investments	$7.3M	$67.6M	$6.0M	$22.8M	$69.4M	$56.5M	$68.2M	$75.7M	$108.6M	$104.5M
Cash & equivalents	$7.3M	$67.6M	$6.0M	$22.8M	$69.4M	$56.5M	$68.2M	$75.7M	$108.6M	$104.5M
Short-term investments	$2.8M	$67.50B	$226.23B	$122.6M	—	—	—	−$86	$836.15B	$913.27B
Receivables	$1.9M	$4.4M	$5.5M	$1.4M	$2.3M	$743,552	$2.1M	$6.7M	$10.4M	$11.1M
Inventory	$0	$0	$1	$1	$0	$57.3M	$1	$0	$0	$0
Other current assets	$0	$101,115	$199,018	$489,155	$292,015	$0	$0	$0	$0	$0
Total current assets	$7.4M	$72.1M	$11.7M	$24.7M	$72.1M	$57.3M	$70.4M	$82.4M	$118.9M	$115.6M
Property, plant & equipment (net)	$0	$0	$449,815	$513,142	$613,500	$0	$0	$0	$0	$0
Goodwill & intangible assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-term investments	$302.3M	$227.9M	$226.5M	$193.0M	$151.6M	$246.7M	$396.9M	$655.4M	$837.0M	$0
Other non-current assets	$7.3M	$2.7M	$1.1M	$729,535	$788,246	$2.1M	$19.0M	$3.8M	$3.6M	$915.3M
Total assets	$316.9M	$302.8M	$239.7M	$218.9M	$225.1M	$306.1M	$486.3M	$741.6M	$959.6M	$1.03B
Liabilities
Accounts payable	$5.4M	$6.3M	$3.8M	$2.5M	$1.4M	$2.9M	$14.9M	$6.2M	$5.6M	$4.4M
Short-term debt	$184,538	—	$84.3M	$78.0M	$77.4M	$74.0M	$251.73B	$276.91B	$172.75B	$172.88B
Deferred revenue	—	—	$421.7M	−$78.0M	−$77.4M	−$76.9M	−$251.7M	$192.2M	$259.6M	$369.8M
Total current liabilities	$5.7M	$6.3M	$3.8M	$2.5M	$1.4M	$2.9M	$14.9M	$6.2M	$5.6M	$4.4M
Long-term debt	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other long-term liabilities	$150.5M	$136.1M	$89.2M	$95.5M	$80.0M	$152.6M	$255.0M	$414.2M	$493.5M	$509.6M
Total liabilities	$156.1M	$142.4M	$93.0M	$98.0M	$81.4M	$155.5M	$269.8M	$420.4M	$499.1M	$514.0M
Shareholders' equity
Common stock & paid-in capital	$2,004	$2,020	$2,074	$2,102	$2,517	$2,724	$2,724	$54,474	$54,474	$54,474
Retained earnings (deficit)	−$543.9M	−$544.6M	−$548.1M	−$554.6M	−$545.2M	−$521.8M	−$457.2M	−$377.5M	−$244.7M	$10.8M
Accumulated other comprehensive income	—	—	$146.7M	$120.8M	$143.7M	$150.6M	$0	$0	$0	$0
Total shareholders' equity	$160.8M	$160.3M	$146.7M	$120.8M	$143.7M	$150.6M	$216.4M	$321.2M	$460.4M	$516.9M
Key figures
Total debt	$148.0M	$135.7M	$84.3M	$78.0M	$77.4M	$151.0M	$251.7M	$409.8M	$487.1M	$501.6M
Net cash (debt)	−$140.7M	−$68.2M	−$78.3M	−$55.2M	−$8.0M	−$94.4M	−$183.5M	−$334.1M	−$378.5M	−$397.1M
Working capital	$1.7M	$65.8M	$7.9M	$22.1M	$70.6M	$54.4M	$55.5M	$76.2M	$113.3M	$111.2M
Tangible book value	$160.8M	$160.3M	$146.7M	$120.8M	$143.7M	$150.6M	$216.4M	$321.2M	$460.4M	$516.9M
Book value per share	$79.79	$78.57	$70.12	$52.01	$53.66	$55.30	$79.46	$117.92	$169.04	$186.61
Shares outstanding	2.0M	2.0M	2.1M	2.3M	2.7M	2.7M	2.7M	2.7M	2.7M	2.8M
Current ratio	1.30	11.38	3.11	9.70	50.86	19.68	4.73	13.25	21.15	26.40
Quick ratio	1.61	11.36	3.06	9.51	50.66	19.68	4.73	13.25	21.15	26.40
Debt / equity	0.92	0.85	0.57	0.65	0.54	1.00	1.16	1.28	1.06	0.97
Equity / assets	50.7%	53.0%	61.2%	55.2%	63.8%	49.2%	44.5%	43.3%	48.0%	50.1%

PhenixFIN Corporation 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	$2.18B	$3.07B	$3.4M	$7.3M	$7.3M	$8.7M	$7.2M	$67.6M	$8.9M	$19.1M	$12.2M	$6.0M
Cash & equivalents	$2.18B	$3.07B	$3.4M	$7.3M	$7.3M	$8.7M	$7.2M	$67.6M	$8.9M	$19.1M	$12.2M	$6.0M
Short-term investments	—	—	—	$2.8M	—	—	$7.18B	—	—	—	$222.00B	—
Receivables	$1.5M	$1.30B	$3.5M	$1.9M	$2.3M	$3.7M	$2.5M	$4.4M	$2.6M	$6.5M	$2.1M	$5.5M
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$1	$0	$1	$1
Other current assets	$1.42B	$0	$0	$0	$0	$101,115	$101,115	$101,115	$101,114	$132,295	$132,294	$0
Total current assets	$3.60B	$4.38B	$3.4M	$7.4M	$7.4M	$12.5M	$9.8M	$72.1M	$11.6M	$25.7M	$14.4M	$11.5M
Property, plant & equipment (net)	$0	$0	$2.4M	$0	$0	$0	$0	$0	$353,366	$385,050	$417,189	$449,815
Goodwill & intangible assets	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Long-term investments	$301.6M	$295.8M	$295.6M	$302.3M	$294.4M	$286.8M	$300.1M	$227.9M	$233.7M	$220.0M	$222.2M	$226.5M
Other non-current assets	$305.99B	$300.90B	$5.9M	$7.3M	$5.0M	$1.4M	$2.0M	$2.7M	$706,241	$1.5M	$835,658	$1.3M
Total assets	$309.89B	$305.57B	$307.4M	$316.9M	$306.8M	$300.7M	$311.9M	$302.8M	$246.3M	$247.7M	$237.8M	$239.7M
Liabilities
Accounts payable	$1.4M	$2.5M	$2.2M	$5.4M	$4.5M	$4.0M	$7.1M	$6.3M	$5.6M	$8.5M	$2.3M	$3.8M
Short-term debt	$79,538	$158,288	$184,538	$184,538	$42,394	—	—	—	$41,159	$156,478	$115,319	$417.9M
Deferred revenue	—	—	—	—	—	—	—	—	−$41,159	−$78,239	−$115,319	$421.7M
Total current liabilities	$77.5M	$48.1M	$2.5M	$5.7M	$4.7M	$4.0M	$7.1M	$6.3M	$6.5M	$8.5M	$2.3M	$3.8M
Long-term debt	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other long-term liabilities	$151.95B	$151.71B	$149.0M	$150.5M	$145.4M	$137.7M	$142.0M	$136.1M	$85.6M	$85.0M	$84.8M	$84.3M
Total liabilities	$152.02B	$151.76B	$151.6M	$156.1M	$150.1M	$141.7M	$149.2M	$142.4M	$92.1M	$93.4M	$87.1M	$93.0M
Shareholders' equity
Common stock & paid-in capital	$1.9M	$1.9M	$2,000	$2,004	$2,004	$2,020	$2,020	$2,020	$2,021	$2,021	$2,061	$2,074
Retained earnings (deficit)	−$543.4M	−$547.5M	−$548.6M	−$543.9M	−$547.4M	−$545.9M	−$542.1M	−$544.6M	−$538.2M	−$538.2M	−$543.6M	−$548.1M
Accumulated other comprehensive income	—	—	—	—	—	—	—	—	—	$0	$0	—
Total shareholders' equity	$157.86B	$153.81B	$155.8M	$160.8M	$156.7M	$159.0M	$162.8M	$160.3M	$154.2M	$154.3M	$150.7M	$146.7M
Key figures
Total debt	$149.2M	$149.1M	$146.5M	$148.0M	$144.9M	$137.4M	$141.7M	$135.7M	$85.6M	$84.4M	$84.3M	$84.3M
Net cash (debt)	$2.03B	$2.93B	−$143.1M	−$140.7M	−$137.6M	−$128.7M	−$134.6M	−$68.2M	−$76.8M	−$65.3M	−$72.2M	−$78.3M
Working capital	$3.52B	$4.33B	$915,394	$1.7M	$2.7M	$8.4M	$2.7M	$65.8M	$5.0M	$17.3M	$12.0M	$7.7M
Tangible book value	$157.86B	$153.81B	$155.8M	$160.8M	$156.7M	$159.0M	$162.8M	$160.3M	$154.2M	$154.3M	$150.7M	$146.7M
Book value per share	$81,684.34	$77,960.54	$77.85	$80.24	$77.67	$78.72	$80.59	$78.57	$76.35	$75.31	$72.71	$70.41
Shares outstanding	1.9M	2.0M	2.0M	2.0M	2.0M	2.0M	2.0M	2.0M	2.0M	2.0M	2.1M	2.1M
Current ratio	46.44	90.96	1.36	1.30	1.58	3.10	1.38	11.38	1.77	3.04	6.15	3.06
Quick ratio	28.12	90.96	2.72	1.61	2.05	3.08	1.37	11.36	1.76	3.02	6.09	3.06
Debt / equity	0.00	0.00	0.94	0.92	0.92	0.86	0.87	0.85	0.56	0.55	0.56	0.57
Equity / assets	50.9%	50.3%	50.7%	50.7%	51.1%	52.9%	52.2%	53.0%	62.6%	62.3%	63.4%	61.2%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 12, 2025); data from EODHD.

PFX financial position

At the end of fiscal 2025 (September 30, 2025), PhenixFIN had total assets of $316.9 million (up 4.7% from a year earlier), total liabilities of $156.1 million and shareholders' equity of $160.8 million. It held $7.3 million in cash and short-term investments against $148.0 million of debt, net debt of $140.7 million. Its current ratio was 1.30. In the latest quarter (ended June 30, 2026) total assets were $309.9 billion and equity $157.9 billion.

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

PFX balance sheet FAQ

What are PhenixFIN's total assets?

PhenixFIN reported total assets of $316.9 million at the end of fiscal 2025 (September 30, 2025), compared with $302.8 million a year earlier.

How much debt does PhenixFIN have?

PhenixFIN had $148.0 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.92.

How much cash does PhenixFIN have?

PhenixFIN held $7.3 million in cash and short-term investments at the end of fiscal 2025; with $148.0 million of debt that is net debt of $140.7 million.

What is PhenixFIN's book value?

PhenixFIN's shareholders' equity (book value) was $160.8 million at the end of fiscal 2025, or $79.79 per share.

What is PhenixFIN's current ratio?

PhenixFIN had current assets of $7.4 million and current liabilities of $5.7 million, a current ratio of 1.30 (it can cover its short-term obligations).