PolyPid Ltd. (PYPD) Balance Sheet
PYPD balance sheet, 2025
December 31, 2025 · U.S. dollars$22.3M assets = $11.3M liabilities + $11.0M equity
Both columns are drawn to the same scale: what PYPD owns equals what it owes plus shareholders’ equity. Hover a block for its value.
PYPD financial health
Descriptive bands, not a rating. Fiscal 2025.
PYPD balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $19.2M2016 | $22.3M2025 | +1.7%/yr | |
| Total liabilities | $53.2M2016 | $11.3M2025 | −15.8%/yr | |
| Shareholders’ equity | −$34.0M2016 | $11.0M2025 | — | |
| Cash & short-term investments | $17.8M2016 | $12.9M2025 | −3.5%/yr | |
| Total debt | $6.6M2016 | $2.8M2025 | −9.1%/yr | |
| Net cash (debt) | $11.1M2016 | $10.1M2025 | −$998,000 | |
| Working capital | $16.6M2016 | $7.5M2025 | −$9.1M | |
| Book value per share | $1.302024 | $0.672025 | −48.4%/yr | |
| Current ratio | 10.752016 | 1.972025 | −8.78 | |
| Debt / equity | 2.362022 | 0.252025 | −2.10 | |
| Shares outstanding | 5.9M2024 | 16.4M2025 | +176.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
PYPD assets
PYPD liabilities and equity
PYPD debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
PYPD balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $12.9M | $15.6M | $5.6M | $12.6M | $32.2M | $44.5M | $26.6M | $7.3M | $17.9M | $17.8M |
| Cash & equivalents | $6.4M | $15.6M | $5.6M | $8.6M | $9.8M | $4.3M | $3.9M | $7.3M | $3.9M | $10.2M |
| Short-term investments | $6.5M | $0 | $0 | $4.0M | $22.4M | $40.2M | $22.7M | $0 | $14.0M | $7.5M |
| Receivables | $0 | $0 | $0 | $298,000 | $118,000 | $139,000 | $18,000 | $24,000 | $28,000 | $28,000 |
| Inventory | $1.1M | $0 | $0 | $213,000 | −$118,000 | $646,000 | $351,000 | −$24,000 | $0 | $0 |
| Other current assets | $1.2M | $932,000 | $458,000 | $1.1M | $2.6M | $1.9M | $423,000 | $707,000 | $764,000 | $475,000 |
| Total current assets | $15.2M | $16.6M | $6.1M | $14.2M | $34.8M | $47.2M | $27.4M | $8.0M | $18.7M | $18.3M |
| Property, plant & equipment (net) | $6.8M | $8.4M | $9.2M | $11.7M | $8.8M | $5.9M | $6.1M | $6.2M | $2.9M | $847,000 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $311,000 | $277,000 | $87,000 | $99,000 | $663,000 | $22.8M | $230,000 | $261,000 | $1.3M | $136,000 |
| Total assets | $22.3M | $25.2M | $15.4M | $26.0M | $44.2M | $75.8M | $33.8M | $14.5M | $23.0M | $19.2M |
| Liabilities | ||||||||||
| Accounts payable | $2.9M | $2.4M | $772,000 | $1.1M | $4.1M | $974,000 | $1.6M | $1.1M | $2.0M | $778,000 |
| Short-term debt | $2.1M | $7.7M | $4.5M | $5.0M | — | — | — | — | — | — |
| Deferred revenue | — | — | — | $2.5M | $269,000 | $241,000 | — | — | — | — |
| Total current liabilities | $7.7M | $12.7M | $7.3M | $8.6M | $8.1M | $2.9M | $2.6M | $3.7M | $3.4M | $1.7M |
| Long-term debt | $0 | $634,000 | $6.4M | $7.6M | $0 | $0 | $0 | $0 | $47.4M | $6.6M |
| Lease obligations | $1.8M | $2.2M | $1.4M | $2.1M | $0 | — | — | — | — | — |
| Other long-term liabilities | $3.6M | $4.2M | $3.8M | $4.0M | $199,000 | $193,000 | $251,000 | $92.5M | $60.9M | $44.9M |
| Total liabilities | $11.3M | $17.5M | $17.5M | $20.1M | $8.3M | $3.1M | $2.8M | $96.2M | $111.6M | $53.2M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | — | — | — | $130,000 | $130,000 | $129,000 | $126,000 |
| Retained earnings (deficit) | −$301.5M | −$267.3M | −$238.3M | −$214.4M | −$174.9M | −$132.3M | −$93.3M | −$86.4M | −$92.3M | −$36.6M |
| Accumulated other comprehensive income | — | — | — | — | — | −$3.1M | −$2.1M | −$1.2M | −$766,000 | −$561,000 |
| Total shareholders' equity | $11.0M | $7.7M | −$2.1M | $5.8M | $36.0M | $72.8M | $30.9M | −$81.7M | −$88.6M | −$34.0M |
| Key figures | ||||||||||
| Total debt | $2.8M | $9.6M | $11.8M | $13.7M | — | — | — | — | $47.4M | $6.6M |
| Net cash (debt) | $10.1M | $6.0M | −$6.2M | −$1.1M | — | — | — | — | −$29.5M | $11.1M |
| Working capital | $7.5M | $3.9M | −$1.2M | $5.6M | $26.7M | $44.3M | $24.8M | $4.3M | $15.4M | $16.6M |
| Tangible book value | $11.0M | $7.7M | −$2.1M | $5.8M | $36.0M | $72.8M | $30.9M | −$81.7M | −$88.6M | −$34.0M |
| Book value per share | $0.67 | $1.30 | — | — | — | — | — | — | — | — |
| Shares outstanding | 16.4M | 5.9M | — | — | — | — | — | — | — | — |
| Current ratio | 1.97 | 1.31 | 0.83 | 1.66 | 4.31 | 16.41 | 10.63 | 2.18 | 5.57 | 10.75 |
| Quick ratio | 1.67 | 1.23 | 0.77 | 1.51 | 4.00 | 15.51 | 10.33 | 1.99 | 5.34 | 10.47 |
| Debt / equity | 0.25 | 1.25 | — | 2.36 | — | — | — | — | — | — |
| Equity / assets | 49.2% | 30.5% | −13.6% | 22.4% | 81.3% | 96.0% | 91.6% | −564.1% | −385.7% | −176.5% |
| 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 | $6.6M | $11.1M | $12.9M | $19.0M | $29.5M | $8.0M | $15.6M | $9.5M | $9.5M | $14.6M | $5.6M | $10.2M |
| Cash & equivalents | $6.6M | $9.1M | $6.4M | $9.9M | $17.4M | $2.3M | $15.6M | $4.8M | $3.2M | $4.0M | $5.6M | $1.4M |
| Short-term investments | $0 | $2.0M | $6.5M | $9.1M | $12.0M | $5.8M | $0 | $4.7M | $6.3M | $10.6M | $0 | $8.8M |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $1.4M | $1.1M | $1.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $964,000 | $351,000 | $1.2M | $609,000 | $533,000 | $733,000 | $932,000 | $915,000 | $268,000 | $471,000 | $458,000 | $968,000 |
| Total current assets | $8.9M | $12.6M | $15.2M | $19.6M | $30.0M | $8.8M | $16.6M | $10.4M | $9.8M | $15.1M | $6.1M | $11.1M |
| Property, plant & equipment (net) | $6.0M | $6.2M | $6.8M | $7.0M | $7.4M | $7.8M | $8.4M | $8.9M | $9.5M | $10.1M | $9.2M | $9.7M |
| 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 | $327,000 | $369,000 | $311,000 | $304,000 | $298,000 | $284,000 | $277,000 | $269,000 | $257,000 | $218,000 | $87,000 | $101,000 |
| Total assets | $15.2M | $19.2M | $22.3M | $26.8M | $37.7M | $16.8M | $25.2M | $19.6M | $19.5M | $25.4M | $15.4M | $20.9M |
| Liabilities | ||||||||||||
| Accounts payable | $1.7M | $1.5M | $2.9M | $1.9M | $2.6M | $2.0M | $2.4M | $1.6M | $992,000 | $1.3M | $772,000 | $529,000 |
| Short-term debt | $1.3M | $2.0M | $2.1M | $3.5M | $7.6M | $7.4M | $7.7M | $6.1M | $6.3M | $5.3M | $4.5M | $3.3M |
| Total current liabilities | $6.6M | $7.0M | $7.7M | $7.6M | $13.2M | $12.4M | $12.7M | $10.5M | $10.3M | $9.2M | $7.3M | $5.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $381,000 | $634,000 | $2.5M | $3.1M | $4.3M | $6.4M | $7.7M |
| Lease obligations | $1.6M | $1.5M | $1.8M | $1.9M | $2.1M | $1.9M | $2.2M | $2.3M | $2.5M | $2.7M | $1.4M | $1.3M |
| Other long-term liabilities | $3.2M | $3.3M | $3.6M | $3.9M | $4.1M | $4.0M | $4.2M | $4.4M | $4.5M | $4.8M | $3.8M | $3.8M |
| Total liabilities | $9.8M | $10.4M | $11.3M | $11.5M | $17.2M | $16.8M | $17.5M | $17.4M | $17.9M | $18.2M | $17.5M | $17.4M |
| Shareholders' equity | ||||||||||||
| Retained earnings (deficit) | −$317.1M | −$309.2M | −$301.5M | −$293.0M | −$285.6M | −$275.6M | −$267.3M | −$258.8M | −$251.1M | −$244.8M | −$238.3M | −$232.0M |
| Total shareholders' equity | $5.4M | $8.8M | $11.0M | $15.4M | $20.5M | $86,000 | $7.7M | $2.2M | $1.6M | $7.1M | −$2.1M | $3.5M |
| Key figures | ||||||||||||
| Total debt | $1.6M | $2.3M | $2.8M | $4.3M | $8.7M | $8.8M | $9.6M | $10.0M | $11.0M | $11.4M | $11.8M | $11.8M |
| Net cash (debt) | $5.0M | $8.8M | $10.1M | $14.6M | $20.8M | −$789,000 | $6.0M | −$484,000 | −$1.5M | $3.2M | −$6.2M | −$1.7M |
| Working capital | $2.3M | $5.5M | $7.5M | $12.0M | $16.8M | −$3.6M | $3.9M | −$30,000 | −$508,000 | $5.9M | −$1.2M | $5.2M |
| Tangible book value | $5.4M | $8.8M | $11.0M | $15.4M | $20.5M | $86,000 | $7.7M | $2.2M | $1.6M | $7.1M | −$2.1M | $3.5M |
| Book value per share | $0.24 | $0.40 | $0.53 | $0.77 | $1.59 | $0.01 | $1.02 | $0.34 | $0.32 | $1.52 | — | — |
| Shares outstanding | 22.6M | 21.9M | 20.6M | 20.1M | 12.8M | 11.8M | 7.5M | 6.4M | 5.0M | 4.7M | — | — |
| Current ratio | 1.35 | 1.78 | 1.97 | 2.57 | 2.28 | 0.71 | 1.31 | 1.00 | 0.95 | 1.64 | 0.83 | 1.89 |
| Quick ratio | 0.99 | 1.58 | 1.67 | 2.49 | 2.24 | 0.65 | 1.23 | 0.91 | 0.92 | 1.59 | 0.77 | 1.72 |
| Debt / equity | 0.29 | 0.27 | 0.25 | 0.28 | 0.42 | 102.65 | 1.25 | 4.64 | 6.89 | 1.60 | — | 3.35 |
| Equity / assets | 35.4% | 45.8% | 49.2% | 57.2% | 54.3% | 0.5% | 30.5% | 11.0% | 8.2% | 28.1% | −13.6% | 16.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
PYPD financial position
At the end of fiscal 2025 (December 31, 2025), PolyPid had total assets of $22.3 million (down 11.6% from a year earlier), total liabilities of $11.3 million and shareholders' equity of $11.0 million. It held $12.9 million in cash and short-term investments against $2.8 million of debt, a net cash position of $10.1 million. Its current ratio was 1.97. In the latest quarter (ended June 30, 2026) total assets were $15.2 million and equity $5.4 million.
Related: PYPD income statement, PYPD cash flow statement, PYPD key metrics. See the PYPD stock overview for the latest quote and news.
PYPD balance sheet FAQ
What are PolyPid's total assets?
PolyPid reported total assets of $22.3 million at the end of fiscal 2025 (December 31, 2025), compared with $25.2 million a year earlier.
How much debt does PolyPid have?
PolyPid had $2.8 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.25.
How much cash does PolyPid have?
PolyPid held $12.9 million in cash and short-term investments at the end of fiscal 2025; with $2.8 million of debt that is net cash of $10.1 million.
What is PolyPid's book value?
PolyPid's shareholders' equity (book value) was $11.0 million at the end of fiscal 2025, or $0.67 per share.
What is PolyPid's current ratio?
PolyPid had current assets of $15.2 million and current liabilities of $7.7 million, a current ratio of 1.97 (it can cover its short-term obligations).