Quantum BioPharma Ltd. (QNTM) Balance Sheet
QNTM balance sheet, 2025
December 31, 2025 · U.S. dollars$11.1M assets = $6.0M liabilities + $5.1M equity
Both columns are drawn to the same scale: what QNTM owns equals what it owes plus shareholders’ equity. Hover a block for its value.
QNTM financial health
Descriptive bands, not a rating. Fiscal 2025.
QNTM balance sheet trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2,1602015 | $11.1M2025 | +158.5%/yr | |
| Total liabilities | $60,5302015 | $6.0M2025 | +66.8%/yr | |
| Shareholders’ equity | −$58,3702015 | $6.9M2025 | — | |
| Cash & short-term investments | $7,1372016 | $6.2M2025 | +132.9%/yr | |
| Total debt | $18,0352015 | $1.9M2025 | +67.5%/yr | |
| Net cash (debt) | −$18,0352015 | $4.3M2025 | +$4.3M | |
| Working capital | −$58,3702015 | $419,2952025 | +$477,665 | |
| Current ratio | 0.042015 | 1.072025 | +1.03 | |
| Debt / equity | 0.012020 | 0.272025 | +0.26 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
QNTM assets
QNTM liabilities and equity
QNTM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
QNTM balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $6.2M | $7.2M | $3.5M | $17.0M | $35.4M | $17.5M | $15.5M | $3.8M | $7,137 | — |
| Cash & equivalents | $1.9M | $6.0M | $2.8M | $17.0M | $35.3M | $17.5M | $15.5M | $3.8M | $7,137 | — |
| Short-term investments | $4.3M | $1.2M | $756,100 | $23,188 | $158,036 | $0 | — | — | — | — |
| Receivables | $230,632 | $3.8M | $7.4M | $374,377 | $500,964 | $161,342 | $979,547 | $234,201 | $0 | $2,160 |
| Inventory | $52,038 | $117,242 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $15,263 | $930,266 | $155,413 | $472,137 | $10.0M | $9.2M | $74,092 | $280,843 | $0 | $0 |
| Total current assets | $6.5M | $12.1M | $11.1M | $17.9M | $45.9M | $26.9M | $16.6M | $4.3M | $7,137 | $2,160 |
| Property, plant & equipment (net) | $169,040 | $130,382 | $120,421 | $260,925 | $168,307 | $0 | $8.9M | $6.6M | $0 | $0 |
| Goodwill & intangible assets | $4.5M | $4.9M | $5.4M | $12.0M | $16.2M | $13.4M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $2,224 | $6,049 | $827,612 | $660,226 | $1.7M | $0 | $0 | $0 | $0 |
| Other non-current assets | $1 | $0 | $907,366 | $7.4M | $0 | $0 | $13.3M | $0 | $0 | $0 |
| Total assets | $11.1M | $17.1M | $17.5M | $38.4M | $63.0M | $42.0M | $38.7M | $10.9M | $7,137 | $2,160 |
| Liabilities | ||||||||||
| Accounts payable | $2.0M | $3.3M | $3.2M | $2.8M | $3.0M | $2.1M | $1.3M | $1.0M | $28,309 | $36,753 |
| Short-term debt | $1.9M | $824,922 | $339,199 | $478,419 | $424,860 | $431,489 | — | — | — | $18,035 |
| Deferred revenue | — | $1.0M | — | — | — | — | — | — | — | — |
| Total current liabilities | $6.0M | $6.7M | $4.6M | $7.8M | $8.7M | $5.6M | $1.3M | $1.0M | $61,434 | $60,530 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $103,165 | $53,780 | $38,650 | $215,874 | $255,356 | $125,962 | — | — | — | — |
| Other long-term liabilities | $0 | $0 | $0 | $38,004 | $131,045 | $79,120 | $0 | $0 | $0 | $0 |
| Total liabilities | $6.0M | $6.7M | $4.6M | $7.9M | $8.8M | $5.7M | $1.3M | $1.0M | $61,434 | $60,530 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $169.4M | $150.5M | $137.8M | $143.4M | $152.3M | $103.2M | $49.9M | $10.3M | $1.1M | $1.1M |
| Retained earnings (deficit) | −$197.9M | −$172.1M | −$157.9M | −$144.2M | −$126.2M | −$90.9M | −$19.5M | −$3.3M | −$1.3M | −$1.3M |
| Accumulated other comprehensive income | $101,357 | $50,795 | $417,341 | $652,601 | $239,612 | $207,797 | — | — | — | — |
| Minority interest | −$1.8M | −$1.0M | −$327,501 | $0 | — | — | — | — | — | — |
| Total shareholders' equity | $6.9M | $11.5M | $13.2M | $30.5M | $54.1M | $36.3M | $37.5M | $9.9M | −$54,297 | −$58,370 |
| Key figures | ||||||||||
| Total debt | $1.9M | $824,922 | $339,199 | $516,423 | $555,905 | $510,609 | — | — | — | $18,035 |
| Net cash (debt) | $4.3M | $6.4M | $3.2M | $16.5M | $34.9M | $17.0M | — | — | — | −$18,035 |
| Working capital | $419,295 | $5.4M | $6.5M | $10.0M | $37.2M | $21.3M | $15.3M | $3.3M | −$54,297 | −$58,370 |
| Tangible book value | $2.4M | $6.5M | $7.9M | $18.5M | $37.9M | $22.9M | $37.5M | $9.9M | −$54,297 | −$58,370 |
| Book value per share | $2.10 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 3.3M | — | — | — | — | — | — | — | — | — |
| Current ratio | 1.07 | 1.80 | 2.43 | 2.28 | 5.28 | 4.82 | 12.94 | 4.26 | 0.12 | 0.04 |
| Quick ratio | 1.06 | 1.65 | 2.39 | 2.22 | 4.13 | 3.17 | 12.89 | 3.98 | 0.12 | 0.04 |
| Debt / equity | 0.27 | 0.07 | 0.03 | 0.02 | 0.01 | 0.01 | — | — | — | — |
| Equity / assets | 62.0% | 67.1% | 75.7% | 79.5% | 86.0% | 86.5% | 96.7% | 90.7% | −760.8% | −2,702.3% |
| 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 | $9.7M | $10.1M | $6.2M | $1.1M | $1.5M | $3.5M | $7.2M | $6.6M | $3.3M | $2.1M | $3.5M | $4.4M |
| Cash & equivalents | $3.6M | $4.4M | $1.9M | $445,944 | $1.5M | $3.5M | $6.0M | $3.1M | $3.3M | $1.3M | $2.8M | $3.6M |
| Short-term investments | $6.1M | $5.7M | $4.3M | $636,761 | $30,786 | $20,868 | $1.2M | $3.5M | $21,918 | $760,140 | $756,100 | $739,600 |
| Receivables | $107,504 | $209,209 | $230,632 | $2.9M | $3.2M | $3.4M | $3.8M | $7.0M | $6.5M | $6.8M | $7.4M | $4.1M |
| Inventory | $52,948 | $51,637 | $52,038 | $77,622 | $76,869 | $93,856 | $117,242 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $55,249 | $76,434 | $15,263 | $5.2M | $5.5M | $2.9M | $930,266 | $254,529 | $217,292 | $273,096 | $155,413 | $791,112 |
| Total current assets | $9.9M | $10.4M | $6.5M | $9.3M | $10.3M | $9.9M | $12.1M | $13.8M | $10.0M | $9.2M | $11.1M | $9.2M |
| Property, plant & equipment (net) | $125,734 | $148,022 | $169,040 | $190,755 | $228,170 | $109,319 | $130,382 | $137,283 | $73,117 | $105,104 | $120,421 | $135,778 |
| Goodwill & intangible assets | $4.3M | $4.4M | $4.5M | $4.6M | $4.7M | $4.8M | $4.9M | $5.0M | $5.1M | $5.3M | $5.4M | $5.5M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $2,224 | $2,224 | $5,926 | $5,845 | $5,904 | $6,049 | $109,313 |
| Other non-current assets | $1 | $1 | $1 | $0 | $0 | $0 | $0 | $0 | $0 | $885,592 | $907,366 | $4.0M |
| Total assets | $14.4M | $15.0M | $11.1M | $14.2M | $15.3M | $14.9M | $17.1M | $19.0M | $15.2M | $15.4M | $17.5M | $18.9M |
| Liabilities | ||||||||||||
| Accounts payable | $2.1M | $2.0M | $2.0M | $2.6M | $1.9M | $1.3M | $3.3M | $1.3M | $3.6M | $2.6M | $3.2M | $2.7M |
| Short-term debt | $962,158 | $872,918 | $1.9M | $2.6M | $2.3M | $1.3M | $824,922 | $373,024 | $625,196 | $623,800 | $339,199 | $362,857 |
| Deferred revenue | — | — | — | — | — | $1.0M | $1.0M | — | — | — | — | — |
| Total current liabilities | $8.3M | $16.4M | $6.0M | $6.6M | $13.2M | $10.3M | $6.7M | $3.7M | $5.0M | $3.9M | $4.6M | $4.2M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $64,922 | $83,991 | $103,165 | $151,798 | $156,572 | $35,358 | $53,780 | $72,475 | $9,634 | $23,893 | $38,650 | $62,308 |
| Other long-term liabilities | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total liabilities | $8.3M | $16.4M | $6.0M | $6.6M | $13.2M | $10.3M | $6.7M | $3.7M | $5.0M | $3.9M | $4.6M | $4.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $187.8M | $178.1M | $169.4M | $169.0M | $160.0M | $153.0M | $150.5M | $149.1M | $140.7M | $138.7M | $137.8M | $137.8M |
| Retained earnings (deficit) | −$214.8M | −$212.5M | −$197.9M | −$195.3M | −$189.9M | −$180.7M | −$172.1M | −$166.8M | −$162.9M | −$159.8M | −$157.9M | −$156.5M |
| Accumulated other comprehensive income | $269,471 | $215,236 | $101,357 | $276,146 | $130,847 | $47,303 | $50,795 | $2.8M | $2.5M | $184,586 | $417,341 | $3.4M |
| Minority interest | −$1.9M | −$2.0M | −$1.8M | −$1.1M | −$1.7M | — | — | — | — | — | — | — |
| Total shareholders' equity | $7.9M | $597,183 | $6.9M | $8.7M | $3.8M | $5.7M | $11.5M | $16.3M | $11.0M | $12.0M | $13.2M | $14.8M |
| Key figures | ||||||||||||
| Total debt | $962,158 | $872,918 | $1.9M | $2.6M | $2.3M | $1.3M | $824,922 | $373,024 | $625,196 | $623,800 | $339,199 | $362,857 |
| Net cash (debt) | $8.8M | $9.2M | $4.3M | −$1.5M | −$736,778 | $2.3M | $6.4M | $6.2M | $2.7M | $1.5M | $3.2M | $4.0M |
| Working capital | $1.7M | −$6.0M | $419,295 | $2.7M | −$2.9M | −$412,582 | $5.4M | $10.2M | $5.0M | $5.3M | $6.5M | $5.1M |
| Tangible book value | $3.6M | −$3.8M | $2.4M | $4.0M | −$961,513 | $902,425 | $6.5M | $11.3M | $5.8M | $6.8M | $7.9M | $9.4M |
| Book value per share | $1.19 | $0.13 | $1.78 | $2.28 | $1.25 | — | — | — | — | — | — | — |
| Shares outstanding | 6.7M | 4.5M | 3.9M | 3.8M | 3.0M | — | — | — | — | — | — | — |
| Current ratio | 1.20 | 0.63 | 1.07 | 1.41 | 0.78 | 0.96 | 1.80 | 3.76 | 1.99 | 2.34 | 2.43 | 2.20 |
| Quick ratio | 1.19 | 0.63 | 1.06 | 0.60 | 0.36 | 0.67 | 1.65 | 3.69 | 1.94 | 2.27 | 2.39 | 2.02 |
| Debt / equity | 0.12 | 1.46 | 0.27 | 0.30 | 0.60 | 0.22 | 0.07 | 0.02 | 0.06 | 0.05 | 0.03 | 0.02 |
| Equity / assets | 55.2% | 4.0% | 62.0% | 61.1% | 24.6% | 38.5% | 67.1% | 85.6% | 71.9% | 77.9% | 75.7% | 78.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
QNTM financial position
At the end of fiscal 2025 (December 31, 2025), Quantum BioPharma had total assets of $11.1 million (down 34.9% from a year earlier), total liabilities of $6.0 million and shareholders' equity of $6.9 million. It held $6.2 million in cash and short-term investments against $1.9 million of debt, a net cash position of $4.3 million. Its current ratio was 1.07. In the latest quarter (ended June 30, 2026) total assets were $14.4 million and equity $7.9 million.
Related: QNTM income statement, QNTM cash flow statement, QNTM key metrics. See the QNTM stock overview for the latest quote and news.
QNTM balance sheet FAQ
What are Quantum BioPharma's total assets?
Quantum BioPharma reported total assets of $11.1 million at the end of fiscal 2025 (December 31, 2025), compared with $17.1 million a year earlier.
How much debt does Quantum BioPharma have?
Quantum BioPharma had $1.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.27.
How much cash does Quantum BioPharma have?
Quantum BioPharma held $6.2 million in cash and short-term investments at the end of fiscal 2025; with $1.9 million of debt that is net cash of $4.3 million.
What is Quantum BioPharma's book value?
Quantum BioPharma's shareholders' equity (book value) was $6.9 million at the end of fiscal 2025, or $2.10 per share.
What is Quantum BioPharma's current ratio?
Quantum BioPharma had current assets of $6.5 million and current liabilities of $6.0 million, a current ratio of 1.07 (it can cover its short-term obligations).
How much goodwill does Quantum BioPharma have?
Quantum BioPharma carried $4.5 million of goodwill and intangible assets, 40.4% of total assets, at the end of fiscal 2025.