People Incorporated (PPLI) Balance Sheet

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

PPLI balance sheet, 2025

December 31, 2025 · U.S. dollars

$7.13B assets = $2.34B liabilities + $4.79B equity

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

PPLI financial health

Current ratio2.75

Comfortable · current assets cover current liabilities 2.75×

Debt / equity0.30

Low leverage · $0.30 of debt for each $1 of equity

Equity / assets66.4%

Equity-funded · of assets funded by shareholders

Cash / debt67.3%

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

Goodwill & intangibles31.7%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

PPLI balance sheet trends, 2016–2025

People Incorporated balance sheet trends
Metric	Then	Latest	Change
Total assets	$4.65B2016	$7.13B2025	+4.9%/yr
Total liabilities	$2.78B2016	$2.34B2025	−1.9%/yr
Shareholders’ equity	$1.87B2016	$4.73B2025	+10.9%/yr
Cash & short-term investments	$1.42B2016	$960.2M2025	−4.2%/yr
Total debt	$1.60B2016	$1.43B2025	−1.3%/yr
Net cash (debt)	−$184.0M2016	−$465.6M2025	−$281.7M
Working capital	$1.13B2016	$983.9M2025	−$145.5M
Book value per share	$23.132016	$59.162025	+11.0%/yr
Current ratio	2.582016	2.752025	+0.17
Debt / equity	0.862016	0.302025	−0.56
Shares outstanding	80.8M2016	80.0M2025	−0.1%/yr

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

PPLI assets

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

PPLI liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

PPLI debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

PPLI balance sheet

People Incorporated annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$960.2M	$1.80B	$1.45B	$1.66B	$2.14B	$3.59B	$839.8M	$2.26B	$1.64B	$1.42B
Cash & equivalents	$960.2M	$1.80B	$1.30B	$1.42B	$2.12B	$3.37B	$839.8M	$2.13B	$757.2M	$1.33B
Short-term investments	—	$0	$149.0M	$239.4M	$19.8M	$225.0M	—	$123.7M	$5.0M	$89.3M
Receivables	$448.8M	$519.7M	$536.6M	$607.8M	$695.5M	$257.7M	$181.9M	$180.1M	$187.2M	$261.5M
Inventory	$0	$0	$0	$0	$30.7M	$317,000	$0	$158.8M	$0	$0
Other current assets	$135.7M	$167.2M	$257.5M	$296.6M	$211.5M	$270.2M	$207.6M	$168.5M	$0	$162.7M
Total current assets	$1.54B	$2.49B	$2.24B	$2.56B	$3.08B	$4.12B	$1.23B	$2.76B	$1.06B	$1.84B
Property, plant & equipment (net)	$287.4M	$392.8M	$455.3M	$510.6M	$570.5M	$274.9M	$305.4M	$318.8M	$253.5M	$306.2M
Goodwill & intangible assets	$2.26B	$3.60B	$3.90B	$4.20B	$4.64B	$2.06B	$1.97B	$3.36B	$1.75B	$2.28B
Long-term investments	$2.81B	$2.68B	$3.30B	$2.50B	$0	$0	$0	$0	$0	$0
Other non-current assets	$230.2M	$388.9M	$473.3M	$625.8M	$4.01B	$2.71B	$595.7M	$434.8M	$115.9M	$217.4M
Total assets	$7.13B	$9.55B	$10.37B	$10.39B	$12.30B	$9.16B	$4.10B	$6.87B	$3.17B	$4.65B
Liabilities
Accounts payable	$37.5M	$72.0M	$105.5M	$133.1M	$203.2M	$88.8M	$72.5M	$74.9M	$61.3M	$62.9M
Short-term debt	$24.5M	$35.0M	$30.0M	$30.0M	$30.0M	—	$13.8M	$13.8M	$13.8M	$5.8M
Deferred revenue	$157.9M	$217.0M	$262.0M	$282.6M	$311.7M	$137.7M	$178.6M	$360.0M	$342.5M	$285.6M
Total current liabilities	$560.9M	$886.2M	$950.5M	$1.08B	$1.38B	$750.9M	$585.3M	$527.5M	$473.6M	$713.4M
Long-term debt	$1.40B	$1.44B	$1.99B	$2.02B	$0	$0	$0	$0	$0	$0
Other long-term liabilities	$379.5M	$921.6M	$639.2M	$694.1M	$3.15B	$1.03B	$463.1M	$2.37B	$405.2M	$2.06B
Total liabilities	$2.34B	$3.24B	$3.58B	$3.79B	$4.53B	$1.78B	$1.05B	$3.26B	$878.7M	$2.78B
Shareholders' equity
Common stock & paid-in capital	$9,000	$9,000	$9,000	$9,000	$9,000	$89,000	$2.55B	$278,000	$2.01B	$272,000
Retained earnings (deficit)	−$643.0M	−$539.0M	$923,000	−$265.0M	$905.2M	$694.0M	—	$1.26B	$595.0M	$290.1M
Accumulated other comprehensive income	−$11.8M	−$11.4M	−$10.9M	−$13.1M	$4.4M	−$6.2M	−$12.2M	−$128.7M	−$7.5M	−$166.1M
Minority interest	$55.2M	$726.5M	$710.5M	$668.2M	—	—	—	—	—	—
Total shareholders' equity	$4.73B	$5.58B	$6.08B	$5.93B	$7.18B	$6.60B	$2.54B	$2.84B	$2.00B	$1.87B
Key figures
Total debt	$1.43B	$1.97B	$2.02B	$2.05B	$2.08B	$712.3M	$245.7M	$261.2M	$272.1M	$1.60B
Net cash (debt)	−$465.6M	−$168.7M	−$576.7M	−$393.0M	$62.3M	$2.88B	$594.1M	$1.99B	$1.36B	−$184.0M
Working capital	$983.9M	$1.60B	$1.29B	$1.48B	$1.69B	$3.37B	$643.9M	$2.24B	$581.9M	$1.13B
Tangible book value	$2.48B	$1.98B	$2.18B	$1.73B	$2.53B	$4.54B	$568.0M	−$515.2M	$253.0M	−$410.3M
Book value per share	$59.16	$67.05	$70.29	$68.69	$75.76	$72.54	$29.78	$33.40	$22.62	$23.13
Shares outstanding	80.0M	83.2M	86.5M	86.4M	94.7M	90.9M	85.1M	85.1M	88.4M	80.8M
Current ratio	2.75	2.80	2.36	2.37	2.23	5.49	2.10	5.24	2.23	2.58
Quick ratio	2.51	2.62	2.09	2.10	2.05	5.13	1.75	4.62	3.85	2.35
Debt / equity	0.30	0.35	0.33	0.35	0.29	0.11	0.10	0.09	0.14	0.86
Equity / assets	66.4%	58.4%	58.6%	57.1%	58.3%	72.0%	61.9%	41.4%	63.1%	40.2%

People Incorporated 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	$1.11B	$1.11B	$960.2M	$1.01B	$1.09B	$1.16B	$1.80B	$1.74B	$1.69B	$1.64B	$1.45B	$1.43B
Cash & equivalents	$1.11B	$1.11B	$960.2M	$1.01B	$1.09B	$1.16B	$1.80B	$1.72B	$1.60B	$1.51B	$1.30B	$1.25B
Short-term investments	—	—	—	—	—	—	—	$24.9M	$87.2M	$136.5M	$149.0M	$173.7M
Receivables	$329.4M	$328.8M	$448.8M	$397.4M	$376.2M	$391.8M	$519.7M	$477.8M	$489.9M	$463.8M	$536.6M	$519.3M
Inventory	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0	$0
Other current assets	$109.3M	$109.4M	$135.7M	$112.5M	$131.5M	$142.7M	$167.2M	$178.4M	$189.4M	$203.9M	$257.5M	$266.8M
Total current assets	$1.55B	$1.55B	$1.54B	$1.52B	$1.60B	$1.69B	$2.49B	$2.40B	$2.37B	$2.31B	$2.24B	$2.21B
Property, plant & equipment (net)	$289.0M	$285.6M	$287.4M	$299.3M	$304.7M	$307.9M	$392.8M	$400.5M	$409.1M	$424.5M	$455.3M	$478.3M
Goodwill & intangible assets	$1.87B	$1.88B	$2.26B	$2.48B	$2.50B	$2.52B	$3.60B	$3.64B	$3.67B	$3.71B	$3.90B	$4.02B
Long-term investments	$3.60B	$2.88B	$2.81B	$2.65B	$2.64B	$2.34B	$0	$0	$0	$0	$0	$0
Other non-current assets	$214.1M	$223.0M	$230.2M	$242.6M	$317.8M	$322.4M	$3.07B	$3.40B	$3.75B	$3.91B	$3.78B	$3.31B
Total assets	$7.52B	$6.82B	$7.13B	$7.19B	$7.36B	$7.19B	$9.55B	$9.84B	$10.20B	$10.36B	$10.37B	$10.02B
Liabilities
Accounts payable	$32.2M	$35.8M	$37.5M	$42.7M	$47.9M	$47.0M	$72.0M	$80.1M	$76.9M	$83.8M	$105.5M	$143.7M
Short-term debt	$24.5M	$24.5M	$24.5M	$22.8M	$21.0M	$42.3M	$35.0M	$43.1M	$38.8M	$34.4M	$30.0M	$30.0M
Deferred revenue	$17.4M	$20.9M	$157.9M	$64.1M	$65.1M	$78.6M	$217.0M	$117.0M	$120.6M	$128.2M	$262.0M	$165.8M
Total current liabilities	$420.4M	$419.8M	$560.9M	$591.7M	$558.6M	$627.4M	$886.2M	$874.5M	$885.0M	$855.5M	$950.5M	$1.02B
Long-term debt	$1.39B	$1.40B	$1.40B	$1.41B	$1.41B	$1.42B	$0	$0	$0	$0	$0	$0
Other long-term liabilities	$579.2M	$410.0M	$379.5M	$345.4M	$426.6M	$377.5M	$2.36B	$2.48B	$2.59B	$2.65B	$2.63B	$2.55B
Total liabilities	$2.39B	$2.23B	$2.34B	$2.34B	$2.40B	$2.42B	$3.24B	$3.35B	$3.48B	$3.51B	$3.58B	$3.57B
Shareholders' equity
Common stock & paid-in capital	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000	$9,000
Retained earnings (deficit)	−$208.0M	−$714.9M	−$643.0M	−$566.2M	−$544.3M	−$755.8M	−$539.0M	−$340.0M	−$96.3M	$46.0M	$923,000	−$326.8M
Accumulated other comprehensive income	−$13.8M	−$14.1M	−$11.8M	−$11.9M	−$11.1M	−$11.0M	−$11.4M	−$9.6M	−$6.5M	−$6.9M	−$10.9M	−$6.6M
Minority interest	$47.7M	$45.2M	$55.2M	$53.2M	$51.7M	—	—	—	—	—	—	—
Total shareholders' equity	$5.08B	$4.55B	$4.73B	$4.79B	$4.91B	$4.71B	$5.58B	$5.76B	$6.01B	$6.13B	$6.08B	$5.74B
Key figures
Total debt	$1.41B	$1.42B	$1.43B	$1.43B	$1.43B	$1.46B	$1.97B	$2.00B	$2.01B	$2.02B	$2.02B	$2.03B
Net cash (debt)	−$301.7M	−$307.8M	−$465.6M	−$424.1M	−$339.5M	−$302.6M	−$168.7M	−$258.5M	−$320.9M	−$373.1M	−$576.7M	−$603.9M
Working capital	$1.13B	$1.13B	$983.9M	$923.8M	$1.04B	$1.07B	$1.60B	$1.53B	$1.48B	$1.46B	$1.29B	$1.19B
Tangible book value	$3.22B	$2.67B	$2.48B	$2.31B	$2.41B	$2.19B	$1.98B	$2.12B	$2.34B	$2.42B	$2.18B	$1.72B
Book value per share	$66.94	$59.28	$61.03	$59.12	$59.69	$57.33	$67.00	$69.25	$72.30	$71.43	$68.61	$69.31
Shares outstanding	75.9M	76.7M	77.6M	81.0M	82.3M	82.2M	83.3M	83.2M	83.1M	85.9M	88.6M	82.8M
Current ratio	3.69	3.69	2.75	2.56	2.87	2.70	2.80	2.75	2.68	2.70	2.36	2.16
Quick ratio	3.43	3.43	2.51	2.37	2.63	2.47	2.62	2.54	2.46	2.46	2.09	1.90
Debt / equity	0.28	0.31	0.30	0.30	0.29	0.31	0.35	0.35	0.33	0.33	0.33	0.35
Equity / assets	67.6%	66.7%	66.4%	66.6%	66.7%	65.6%	58.4%	58.6%	58.9%	59.2%	58.6%	57.3%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 20, 2026); data from EODHD.

PPLI financial position

At the end of fiscal 2025 (December 31, 2025), People had total assets of $7.1 billion (down 25.3% from a year earlier), total liabilities of $2.3 billion and shareholders' equity of $4.7 billion. It held $960.2 million in cash and short-term investments against $1.4 billion of debt, net debt of $465.6 million. Its current ratio was 2.75. In the latest quarter (ended June 30, 2026) total assets were $7.5 billion and equity $5.1 billion.

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

PPLI balance sheet FAQ

What are People's total assets?

People reported total assets of $7.1 billion at the end of fiscal 2025 (December 31, 2025), compared with $9.5 billion a year earlier.

How much debt does People have?

People had $1.4 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.30.

How much cash does People have?

People held $960.2 million in cash and short-term investments at the end of fiscal 2025; with $1.4 billion of debt that is net debt of $465.6 million.

What is People's book value?

People's shareholders' equity (book value) was $4.7 billion at the end of fiscal 2025, or $59.16 per share.

What is People's current ratio?

People had current assets of $1.5 billion and current liabilities of $560.9 million, a current ratio of 2.75 (it can cover its short-term obligations).

How much goodwill does People have?

People carried $2.3 billion of goodwill and intangible assets, 31.7% of total assets, at the end of fiscal 2025.