Polestar Automotive Holding UK PLC (PSNY) Balance Sheet
PSNY balance sheet, 2025
December 31, 2025 · U.S. dollars$3.93B assets = $9.05B liabilities + −$5.12B equity
Liabilities exceed assets: shareholders’ equity is negative (−$5.12B).
Both columns are drawn to the same scale: what PSNY owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PSNY financial health
Descriptive bands, not a rating. Fiscal 2025.
PSNY balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.55B2019 | $3.93B2025 | +16.8%/yr | |
| Total liabilities | $957.2M2019 | $9.05B2025 | +45.4%/yr | |
| Shareholders’ equity | $591.2M2019 | −$5.12B2025 | — | |
| Cash & short-term investments | $236.2M2019 | $1.18B2025 | +30.7%/yr | |
| Total debt | $546.3M2019 | $6.49B2025 | +51.1%/yr | |
| Net cash (debt) | −$310.1M2019 | −$5.31B2025 | −$5.0B | |
| Working capital | −$414.1M2019 | −$3.52B2025 | −$3.1B | |
| Book value per share | $10.362020 | −$55.372025 | — | |
| Current ratio | 0.562019 | 0.432025 | −0.13 | |
| Debt / equity | 0.922019 | 6.742021 | +5.81 | |
| Shares outstanding | 56.0M2020 | 92.5M2025 | +10.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PSNY assets
PSNY liabilities and equity
PSNY debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PSNY balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $1.18B | $739.2M | $768.9M | $973.9M | $757.9M | $316.4M | $236.2M |
| Cash & equivalents | $1.18B | $739.2M | $768.9M | $973.9M | $756.7M | $316.4M | $236.2M |
| Short-term investments | — | — | — | $15,000 | $1.3M | $0 | — |
| Receivables | $609.9M | $418.9M | $349.1M | $318.8M | $246.8M | $357.1M | $45.4M |
| Inventory | $859.3M | $1.08B | $939.4M | $657.9M | $545.7M | $432.5M | $22.7M |
| Other current assets | $41.0M | $60.8M | $201.8M | $229.9M | $56.5M | $65.9M | $223.2M |
| Total current assets | $2.69B | $2.30B | $2.26B | $2.18B | $1.61B | $1.17B | $527.5M |
| Property, plant & equipment (net) | $393.5M | $593.9M | $389.7M | $354.8M | $328.8M | $201.7M | $120.2M |
| Goodwill & intangible assets | $700.3M | $1.04B | $1.41B | $1.40B | $1.37B | $1.17B | $896.1M |
| Long-term investments | $0 | $0 | $2.4M | $2.3M | $0 | $0 | $0 |
| Other non-current assets | $147.3M | $121.3M | $68.1M | $8.4M | $5.5M | $3.6M | $4.5M |
| Total assets | $3.93B | $4.05B | $4.13B | $3.94B | $3.31B | $2.55B | $1.55B |
| Liabilities | |||||||
| Accounts payable | $1.11B | $893.9M | $366.8M | $1.03B | $1.54B | $1.15B | $317.8M |
| Short-term debt | $3.90B | $2.63B | $2.11B | $1.37B | $758.8M | $374.7M | $535.6M |
| Deferred revenue | $53.2M | $55.0M | $128.5M | $68.1M | $94.8M | $30.2M | — |
| Total current liabilities | $6.21B | $4.74B | $3.49B | $3.19B | $3.04B | $1.87B | $941.6M |
| Long-term debt | $2.50B | $2.34B | $1.46B | $43.6M | $0 | $0 | $0 |
| Lease obligations | $130.7M | $61.8M | $74.0M | $123.8M | $76.9M | $73.0M | — |
| Other long-term liabilities | $344.5M | $304.5M | $426.7M | $869.3M | $146.5M | $99.7M | $15.6M |
| Total liabilities | $9.05B | $7.38B | $5.38B | $4.08B | $3.19B | $1.97B | $957.2M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $27.8M | $21.2M | $21.2M | $21.2M | $1.87B | $1.32B | — |
| Retained earnings (deficit) | −$9.27B | −$6.91B | −$4.86B | −$3.68B | −$1.76B | −$754.4M | −$274.2M |
| Accumulated other comprehensive income | −$14.7M | −$63.2M | −$27.4M | −$15.8M | −$16.8M | $16.4M | −$13.9M |
| Total shareholders' equity | −$5.12B | −$3.33B | −$1.25B | −$133.3M | $122.5M | $580.7M | $591.2M |
| Key figures | |||||||
| Total debt | $6.49B | $5.01B | $3.58B | $1.44B | $825.4M | $436.5M | $546.3M |
| Net cash (debt) | −$5.31B | −$4.27B | −$2.81B | −$467.2M | −$67.5M | −$120.1M | −$310.1M |
| Working capital | −$3.52B | −$2.44B | −$1.23B | −$1.01B | −$1.43B | −$696.2M | −$414.1M |
| Tangible book value | −$5.82B | −$4.37B | −$2.66B | −$1.53B | −$1.25B | −$590.6M | −$304.9M |
| Book value per share | −$55.37 | −$47.32 | — | −$1.90 | $1.74 | $10.36 | — |
| Shares outstanding | 92.5M | 70.3M | — | 70.3M | 70.5M | 56.0M | — |
| Current ratio | 0.43 | 0.48 | 0.65 | 0.68 | 0.53 | 0.63 | 0.56 |
| Quick ratio | 0.29 | 0.24 | 0.32 | 0.41 | 0.33 | 0.36 | 0.30 |
| Debt / equity | — | — | — | — | 6.74 | 0.75 | 0.92 |
| Equity / assets | −130.3% | −82.1% | −30.2% | −3.4% | 3.7% | 22.8% | 38.2% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | Jun '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $887.6M | $887.6M | $1.16B | $1.16B | $718.6M | $718.6M | $739.2M | $668.9M | $784.0M | $768.9M | $951.1M | $1.06B |
| Cash & equivalents | $887.6M | $887.6M | $1.16B | $1.16B | $718.6M | $718.6M | $739.2M | $668.9M | $784.0M | $768.9M | $951.1M | $1.06B |
| Receivables | $363.9M | $363.9M | $341.9M | $341.9M | $419.4M | $336.2M | $190.2M | $184.1M | $0 | $349.1M | $340.8M | $308.1M |
| Inventory | $720.0M | $720.0M | $853.1M | $853.1M | $805.7M | $805.7M | $1.08B | $714.0M | $0 | $939.4M | $1.01B | $867.5M |
| Other current assets | $269.2M | $269.2M | $334.4M | $334.4M | $270.3M | $353.5M | $289.5M | $273.5M | $1.24B | $201.8M | $181.8M | $173.9M |
| Total current assets | $2.24B | $2.24B | $2.69B | $2.69B | $2.21B | $2.21B | $2.30B | $1.84B | $2.02B | $2.26B | $2.48B | $2.41B |
| Property, plant & equipment (net) | $435.1M | $435.1M | $393.5M | $393.5M | $343.6M | $424.4M | $593.9M | $626.4M | $0 | $389.7M | $353.6M | $357.6M |
| Goodwill & intangible assets | $663.4M | $663.4M | $700.3M | $700.3M | $837.7M | $881.5M | $1.04B | $1.46B | $0 | $1.48B | $1.53B | $1.47B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $2.4M | $2.2M | $2.2M |
| Other non-current assets | $177.4M | $177.4M | $147.3M | $147.3M | $247.4M | $122.8M | $121.3M | $0 | $1.91B | $3.4M | $21.6M | $22.2M |
| Total assets | $3.52B | $3.52B | $3.93B | $3.93B | $3.64B | $3.64B | $4.05B | $3.83B | $3.94B | $4.13B | $4.39B | $4.26B |
| Liabilities | ||||||||||||
| Accounts payable | $894.8M | $894.8M | $1.11B | $1.11B | $757.7M | $757.7M | $893.9M | $482.4M | — | $368.1M | $728.4M | $921.6M |
| Short-term debt | $4.99B | $4.99B | — | $4.02B | $3.21B | $3.21B | $2.73B | $1.65B | — | $2.11B | $2.94B | $2.43B |
| Deferred revenue | — | $53.2M | — | — | $37.3M | $55.0M | — | $91.3M | — | $128.5M | $119.7M | $104.5M |
| Total current liabilities | $6.94B | $6.94B | $6.21B | $6.21B | $5.20B | $5.20B | $4.74B | $3.19B | $2.80B | $3.49B | $4.50B | $4.07B |
| Long-term debt | $946.8M | $0 | $2.50B | $0 | $2.38B | $0 | $0 | $0 | $0 | $1.46B | $0 | $0 |
| Lease obligations | $113.1M | — | $130.7M | — | $64.8M | — | — | — | — | $74.0M | $74.5M | $103.5M |
| Other long-term liabilities | $359.0M | $1.31B | $344.5M | $2.84B | $323.6M | $2.71B | $2.64B | $2.60B | $2.68B | $426.7M | $514.4M | $653.8M |
| Total liabilities | $8.25B | $8.25B | $9.05B | $9.05B | $7.91B | $7.91B | $7.38B | $5.65B | $5.48B | $5.38B | $5.02B | $4.73B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $49.3M | $49.3M | — | $27.8M | $21.3M | $21.3M | $21.2M | $21.2M | −$1.54B | $21.2M | $21.2M | $21.2M |
| Retained earnings (deficit) | −$10.11B | −$10.11B | −$9.27B | −$9.27B | −$8.10B | −$8.10B | −$6.91B | −$5.41B | — | −$4.86B | −$4.20B | −$4.04B |
| Accumulated other comprehensive income | −$106.3M | −$106.3M | — | −$14.7M | −$28.3M | −$28.3M | −$63.2M | −$49.8M | — | −$27.4M | −$42.8M | −$39.0M |
| Total shareholders' equity | −$4.73B | −$4.73B | −$5.12B | −$5.12B | −$4.27B | −$4.27B | −$3.33B | −$1.82B | −$1.54B | −$1.25B | −$628.9M | −$470.8M |
| Key figures | ||||||||||||
| Total debt | $6.02B | $6.02B | $2.50B | $6.62B | $5.65B | $5.65B | $5.12B | $4.03B | $2.68B | $3.58B | $2.97B | $2.51B |
| Net cash (debt) | −$5.13B | −$5.13B | −$1.34B | −$5.46B | −$4.93B | −$4.93B | −$4.38B | −$3.36B | −$1.90B | −$2.81B | −$2.02B | −$1.45B |
| Working capital | −$4.70B | −$4.70B | −$3.52B | −$3.52B | −$2.99B | −$2.99B | −$2.44B | −$1.35B | −$774.4M | −$1.23B | −$2.02B | −$1.67B |
| Tangible book value | −$5.40B | −$5.40B | −$5.82B | −$5.82B | −$5.10B | −$5.15B | −$4.37B | −$3.28B | −$1.54B | −$2.72B | −$2.16B | −$1.94B |
| Book value per share | −$35.68 | −$51.15 | — | −$44.73 | −$60.52 | −$60.52 | −$47.32 | −$25.89 | −$21.93 | — | −$8.94 | −$6.69 |
| Shares outstanding | 132.6M | 92.5M | — | 114.5M | 70.5M | 70.5M | 70.3M | 70.3M | 70.3M | — | 70.3M | 70.3M |
| Current ratio | 0.32 | 0.32 | 0.43 | 0.43 | 0.43 | 0.43 | 0.48 | 0.58 | 0.72 | 0.65 | 0.55 | 0.59 |
| Quick ratio | 0.18 | 0.18 | 0.24 | 0.24 | 0.22 | 0.20 | 0.20 | 0.27 | 0.28 | 0.32 | 0.29 | 0.34 |
| Equity / assets | −134.6% | −134.6% | −130.3% | −130.3% | −117.1% | −117.1% | −82.1% | −47.5% | −39.2% | −30.2% | −14.3% | −11.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 17, 2026); data from EODHD.
PSNY financial position
At the end of fiscal 2025 (December 31, 2025), Polestar Automotive Holding UK had total assets of $3.9 billion (down 3.1% from a year earlier), total liabilities of $9.1 billion and shareholders' equity of -$5.1 billion. It held $1.2 billion in cash and short-term investments against $6.5 billion of debt, net debt of $5.3 billion. Its current ratio was 0.43. In the latest quarter (ended June 30, 2026) total assets were $3.5 billion and equity -$4.7 billion.
Related: PSNY income statement, PSNY cash flow statement, PSNY key metrics. See the PSNY stock overview for the latest quote and news.
PSNY balance sheet FAQ
What are Polestar Automotive Holding UK's total assets?
Polestar Automotive Holding UK reported total assets of $3.9 billion at the end of fiscal 2025 (December 31, 2025), compared with $4.1 billion a year earlier.
How much debt does Polestar Automotive Holding UK have?
Polestar Automotive Holding UK had $6.5 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Polestar Automotive Holding UK have?
Polestar Automotive Holding UK held $1.2 billion in cash and short-term investments at the end of fiscal 2025; with $6.5 billion of debt that is net debt of $5.3 billion.
What is Polestar Automotive Holding UK's book value?
Polestar Automotive Holding UK's shareholders' equity (book value) was -$5.1 billion at the end of fiscal 2025, or −$55.37 per share.
What is Polestar Automotive Holding UK's current ratio?
Polestar Automotive Holding UK had current assets of $2.7 billion and current liabilities of $6.2 billion, a current ratio of 0.43 (current liabilities exceed current assets).
How much goodwill does Polestar Automotive Holding UK have?
Polestar Automotive Holding UK carried $700.3 million of goodwill and intangible assets, 17.8% of total assets, at the end of fiscal 2025.