Prairie Operating Co. (PROP) Balance Sheet
PROP balance sheet, 2025
December 31, 2025 · U.S. dollars$944.5M assets = $814.4M liabilities + $130.2M equity
Both columns are drawn to the same scale: what PROP owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PROP financial health
Descriptive bands, not a rating. Fiscal 2025.
PROP balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $5.8M2016 | $944.5M2025 | +76.0%/yr | |
| Total liabilities | $3.8M2016 | $814.4M2025 | +81.7%/yr | |
| Shareholders’ equity | $2.1M2016 | $130.2M2025 | +58.3%/yr | |
| Cash & short-term investments | $4.4M2016 | $20,0002025 | −45.1%/yr | |
| Total debt | $1.0M2016 | $370.6M2025 | +92.4%/yr | |
| Net cash (debt) | $3.4M2016 | −$370.5M2025 | −$373.9M | |
| Working capital | $2.9M2016 | −$46.1M2025 | −$48.9M | |
| Current ratio | 2.052016 | 0.632025 | −1.41 | |
| Debt / equity | 0.492016 | 2.852025 | +2.35 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PROP assets
PROP liabilities and equity
PROP debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PROP balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $20,000 | $5.2M | $13.0M | $246,358 | $2.8M | $1.9M | $2.8M | $1.0M | $1.8M | $4.4M |
| Cash & equivalents | $20,000 | $5.2M | $13.0M | $246,358 | $2.8M | $1.9M | $2.8M | $1.0M | $1.8M | $4.4M |
| Short-term investments | — | — | — | $0 | $302,654 | $0 | — | — | — | — |
| Receivables | $22.7M | $12.8M | $329,750 | $90,000 | $427 | $33,452 | $113 | $124,395 | $336,030 | $187,819 |
| Inventory | $3.6M | $5,000 | $0 | $0 | $18,725 | $0 | $0 | $0 | $1,204 | $0 |
| Other current assets | $53.4M | $312,000 | $164,250 | $4.7M | $8.0M | $286,330 | $440,155 | $898,427 | $658,494 | $1.0M |
| Total current assets | $79.7M | $18.3M | $13.5M | $5.1M | $10.8M | $2.2M | $3.2M | $2.0M | $2.8M | $5.6M |
| Property, plant & equipment (net) | $827.4M | $136.3M | $28.9M | $1.6M | $2.4M | $253,892 | $228,800 | $99,788 | $165,403 | $215,948 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $132,000 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $37.4M | $1.9M | $3.4M | $110,350 | $18,201 | $66,986 | $9,408 | $88,875 | $9,408 | $19,902 |
| Total assets | $944.5M | $156.6M | $45.8M | $6.8M | $13.2M | $2.7M | $3.5M | $2.2M | $2.9M | $5.8M |
| Liabilities | ||||||||||
| Accounts payable | $45.8M | $33.9M | $2.3M | $3.2M | $801,747 | $599,459 | $3.3M | $2.4M | $2.8M | $937,773 |
| Short-term debt | $1.3M | $12.9M | $42,000 | $6.4M | $2.5M | $2.6M | $2.6M | $2.5M | $1.1M | — |
| Deferred revenue | — | — | — | — | — | $758,847 | $1.6M | $1.7M | $2.2M | $1.6M |
| Total current liabilities | $125.8M | $63.0M | $5.4M | $13.2M | $6.0M | $7.1M | $7.7M | $7.1M | $6.3M | $2.7M |
| Long-term debt | $367.5M | $32.6M | $0 | $149,900 | $2.9M | $2.3M | $1.9M | $0 | $0 | $0 |
| Lease obligations | $3.1M | $1.4M | $135,706 | $0 | $135,093 | $246,412 | $173,140 | — | — | — |
| Other long-term liabilities | $321.1M | $9.0M | $230,999 | $0 | $101,116 | $137,694 | $79,816 | $0 | $0 | $1.0M |
| Total liabilities | $814.4M | $103.8M | $5.6M | $13.3M | $9.0M | $9.5M | $9.7M | $7.1M | $6.3M | $3.8M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $625,000 | $230,000 | $98,000 | $1,224 | $819 | $351 | $351 | $7,015 | $6,855 | $6,855 |
| Retained earnings (deficit) | −$87.7M | −$119.8M | −$78.9M | −$60.7M | −$47.3M | −$30.0M | −$28.1M | −$25.9M | −$23.3M | −$17.6M |
| Accumulated other comprehensive income | — | $0 | — | — | −$819 | — | — | −$7,015 | — | — |
| Total shareholders' equity | $130.2M | $52.8M | $40.2M | −$6.5M | $4.2M | −$6.8M | −$6.2M | −$4.9M | −$3.4M | $2.1M |
| Key figures | ||||||||||
| Total debt | $370.6M | $46.5M | $136,000 | $6.5M | $5.5M | $5.1M | $4.6M | $2.5M | $1.1M | $1.0M |
| Net cash (debt) | −$370.5M | −$41.3M | $12.9M | −$6.3M | −$2.7M | −$3.2M | −$1.8M | −$1.5M | $652,571 | $3.4M |
| Working capital | −$46.1M | −$44.7M | $8.1M | −$8.1M | $4.8M | −$4.8M | −$4.5M | −$5.1M | −$3.5M | $2.9M |
| Tangible book value | $130.2M | $52.8M | $40.2M | −$6.5M | $4.2M | −$7.0M | −$6.2M | −$4.9M | −$3.4M | $2.1M |
| Current ratio | 0.63 | 0.29 | 2.50 | 0.38 | 1.79 | 0.31 | 0.42 | 0.29 | 0.44 | 2.05 |
| Quick ratio | 0.18 | 0.29 | 2.47 | 0.03 | 0.46 | 0.27 | 0.36 | 0.16 | 0.33 | 1.68 |
| Debt / equity | 2.85 | 0.88 | 0.00 | — | 1.31 | — | — | — | — | 0.49 |
| Equity / assets | 13.8% | 33.7% | 87.7% | −96.1% | 31.8% | −255.9% | −180.7% | −220.2% | −114.1% | 35.7% |
| 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 | $21,000 | $263,000 | $20,000 | $10.6M | $10.7M | $15.0M | $5.2M | $40.1M | $2.2M | $4.0M | $13.0M | $7.2M |
| Cash & equivalents | $21,000 | $263,000 | $20,000 | $10.6M | $10.7M | $15.0M | $5.2M | $40.1M | $2.2M | $4.0M | $13.0M | $7.2M |
| Receivables | $36.0M | $53.8M | $22.7M | $90.3M | $54.8M | $55.1M | $12.8M | $507,650 | $503,499 | $951,760 | $0 | $97,293 |
| Inventory | $4.2M | $2.7M | $3.6M | $4.9M | $3.4M | $1.3M | $5,000 | −$267,365 | $0 | $0 | $0 | $0 |
| Other current assets | $1.7M | $1.7M | $53.4M | $15.1M | $28.5M | $507,000 | $312,000 | $16.8M | $249,146 | $1.2M | $494,000 | $271,839 |
| Total current assets | $41.9M | $58.3M | $79.7M | $121.0M | $97.4M | $71.9M | $18.3M | $57.1M | $3.0M | $6.2M | $13.5M | $7.6M |
| Property, plant & equipment (net) | $24.6M | $871.9M | $827.4M | $798.7M | $740.2M | $689.3M | $136.3M | $49.6M | $33.7M | $31.2M | $28.9M | $32.3M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $938.7M | $28.6M | $37.4M | $20.2M | $21.0M | $14.2M | $1.9M | $496,821 | $11.5M | $9.2M | $3.4M | $150,000 |
| Total assets | $1.01B | $958.8M | $944.5M | $939.8M | $858.5M | $775.4M | $156.6M | $107.2M | $48.2M | $46.5M | $45.8M | $40.1M |
| Liabilities | ||||||||||||
| Accounts payable | $60.6M | $69.4M | $45.8M | $47.5M | $65.1M | $25.1M | $33.9M | $9.2M | $3.8M | $3.6M | $2.3M | $2.3M |
| Short-term debt | $1.5M | $1.4M | $1.3M | $749,000 | $888,000 | $384,000 | $12.9M | $19.7M | $167,842 | $162,829 | $42,000 | $4.9M |
| Total current liabilities | $167.4M | $239.4M | $125.8M | $145.0M | $161.6M | $126.6M | $63.0M | $45.0M | $12.5M | $8.6M | $5.4M | $11.6M |
| Long-term debt | $437.5M | $363.0M | $367.5M | $418.5M | $388.5M | $378.5M | $32.6M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $3.1M | $3.1M | $3.1M | $1.7M | $2.0M | $1.4M | $1.4M | $1.1M | $343,351 | $380,898 | $136,000 | — |
| Other long-term liabilities | $177.4M | $356.0M | $321.1M | $274.5M | $49.7M | $48.0M | $9.0M | $875,104 | $175,508 | $218,068 | $230,999 | $50.7M |
| Total liabilities | $782.2M | $958.4M | $814.4M | $838.0M | $599.8M | $553.1M | $103.8M | $45.9M | $12.7M | $8.9M | $5.6M | $62.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.1M | $854,000 | $625,000 | $540,000 | $456,000 | $429,000 | $230,000 | $229,188 | $125,649 | $108,153 | $98,000 | $70,747 |
| Retained earnings (deficit) | −$131.4M | −$240.4M | −$87.7M | −$85.4M | −$86.7M | −$122.4M | −$119.8M | −$107.8M | −$96.4M | −$87.9M | −$78.9M | −$55.4M |
| Accumulated other comprehensive income | — | — | — | — | $0 | — | $0 | — | — | — | — | −$70,747 |
| Total shareholders' equity | $223.0M | $400,000 | $130.2M | $101.8M | $258.8M | $222.3M | $52.8M | $61.3M | $35.6M | $37.7M | $40.2M | −$22.2M |
| Key figures | ||||||||||||
| Total debt | $483.8M | $488.9M | $370.6M | $420.2M | $390.4M | $379.8M | $46.5M | $20.6M | $343,351 | $380,898 | $136,000 | $4.9M |
| Net cash (debt) | −$483.7M | −$488.6M | −$370.5M | −$409.6M | −$379.8M | −$364.8M | −$41.3M | $19.5M | $1.9M | $3.7M | $12.9M | $2.4M |
| Working capital | −$125.5M | −$181.0M | −$46.1M | −$24.0M | −$64.2M | −$54.7M | −$44.7M | $12.1M | −$9.5M | −$2.5M | $8.1M | −$4.0M |
| Tangible book value | $223.0M | $400,000 | $130.2M | $101.8M | $258.8M | $222.3M | $52.8M | $61.3M | $35.6M | $37.7M | $40.2M | −$22.2M |
| Book value per share | — | — | — | $0.20 | $1.30 | $8.30 | $2.29 | — | — | — | — | — |
| Shares outstanding | — | — | — | 506.2M | 198.4M | 26.8M | 23.0M | — | — | — | — | — |
| Current ratio | 0.25 | 0.24 | 0.63 | 0.83 | 0.60 | 0.57 | 0.29 | 1.27 | 0.24 | 0.72 | 2.50 | 0.66 |
| Quick ratio | 0.21 | 0.23 | 0.18 | 0.70 | 0.41 | 0.55 | 0.29 | 0.90 | 0.22 | 0.58 | 2.41 | 0.63 |
| Debt / equity | 2.17 | 1,222.15 | 2.85 | 4.13 | 1.51 | 1.71 | 0.88 | 0.34 | 0.01 | 0.01 | 0.00 | — |
| Equity / assets | 22.2% | 0.0% | 13.8% | 10.8% | 30.1% | 28.7% | 33.7% | 57.2% | 73.7% | 80.9% | 87.7% | −55.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
PROP financial position
At the end of fiscal 2025 (December 31, 2025), Prairie Operating had total assets of $944.5 million (up 503.3% from a year earlier), total liabilities of $814.4 million and shareholders' equity of $130.2 million. It held $0.0 million in cash and short-term investments against $370.6 million of debt, net debt of $370.5 million. Its current ratio was 0.63. In the latest quarter (ended June 30, 2026) total assets were $1.0 billion and equity $223.0 million.
Related: PROP income statement, PROP cash flow statement, PROP key metrics. See the PROP stock overview for the latest quote and news.
PROP balance sheet FAQ
What are Prairie Operating's total assets?
Prairie Operating reported total assets of $944.5 million at the end of fiscal 2025 (December 31, 2025), compared with $156.6 million a year earlier.
How much debt does Prairie Operating have?
Prairie Operating had $370.6 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 2.85.
How much cash does Prairie Operating have?
Prairie Operating held $0.0 million in cash and short-term investments at the end of fiscal 2025; with $370.6 million of debt that is net debt of $370.5 million.
What is Prairie Operating's book value?
Prairie Operating's shareholders' equity (book value) was $130.2 million at the end of fiscal 2025.
What is Prairie Operating's current ratio?
Prairie Operating had current assets of $79.7 million and current liabilities of $125.8 million, a current ratio of 0.63 (current liabilities exceed current assets).