RedHill Biopharma Ltd. (RDHL) Balance Sheet
RDHL balance sheet, 2025
December 31, 2025 · U.S. dollars$25.3M assets = $21.1M liabilities + $4.3M equity
Both columns are drawn to the same scale: what RDHL owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RDHL financial health
Descriptive bands, not a rating. Fiscal 2025.
RDHL balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $74.2M2016 | $25.3M2025 | −11.3%/yr | |
| Total liabilities | $11.5M2016 | $21.1M2025 | +7.0%/yr | |
| Shareholders’ equity | $62.7M2016 | $4.3M2025 | −25.8%/yr | |
| Cash & short-term investments | $66.2M2016 | $4.0M2025 | −26.8%/yr | |
| Total debt | $6.2M2016 | $1.1M2025 | −17.7%/yr | |
| Net cash (debt) | $60.0M2016 | $2.9M2025 | −$57.1M | |
| Working capital | $62.5M2016 | −$12.7M2025 | −$75.2M | |
| Book value per share | −$1.902024 | $1.352025 | — | |
| Current ratio | 12.662016 | 0.342025 | −12.32 | |
| Debt / equity | 0.102016 | 0.252025 | +0.15 | |
| Shares outstanding | 2.5M2024 | 3.2M2025 | +28.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RDHL assets
RDHL liabilities and equity
RDHL debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RDHL balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $4.0M | $4.6M | $6.4M | $20.0M | $38.0M | $29.8M | $47.9M | $53.2M | $46.2M | $66.2M |
| Cash & equivalents | $4.0M | $4.6M | $5.6M | $20.0M | $29.5M | $29.3M | $29.0M | $29.0M | $16.5M | $53.8M |
| Short-term investments | — | $2.7M | $790,037 | $15,000 | $8.5M | $498,000 | $18.8M | $24.2M | $29.8M | $12.4M |
| Receivables | $2.5M | $3.6M | $3.3M | $37.9M | $32.5M | $29.3M | $1.6M | $1.4M | $2.3M | $492,000 |
| Inventory | $0 | $3.7M | $4.4M | $11.0M | $14.8M | $6.5M | $1.9M | $769,000 | $653,000 | $1.1M |
| Other current assets | $78,000 | $77,000 | $2.1M | $17.0M | $3.8M | $4.9M | $1.8M | $1.4M | $2.6M | $55,000 |
| Total current assets | $6.5M | $11.9M | $16.1M | $85.9M | $89.2M | $70.5M | $53.2M | $56.8M | $51.7M | $67.8M |
| Property, plant & equipment (net) | $1.1M | $437,000 | $1.2M | $7.2M | $4.2M | $5.7M | $3.8M | $163,000 | $230,000 | $165,000 |
| Goodwill & intangible assets | $5.3M | $5.5M | $5.6M | $65.6M | $71.6M | $87.9M | $16.9M | $5.3M | $5.3M | $6.1M |
| Long-term investments | $12.1M | $0 | $0 | $0 | $0 | $0 | $152,000 | $140,000 | $152,000 | $137,000 |
| Other non-current assets | $371,000 | $148,000 | $147,041 | $150,000 | $16.2M | $16.2M | $0 | $0 | $0 | $0 |
| Total assets | $25.3M | $18.0M | $23.0M | $158.9M | $181.2M | $180.2M | $74.1M | $62.4M | $57.3M | $74.2M |
| Liabilities | ||||||||||
| Accounts payable | $6.4M | $7.9M | $3.3M | $4.2M | $11.7M | $11.6M | $4.2M | $3.3M | $4.8M | $60,000 |
| Short-term debt | $170,000 | $353,000 | $718,000 | $116.2M | $1.6M | $1.7M | $834,000 | — | — | — |
| Deferred revenue | — | — | $1 | — | $37.3M | $19.5M | $5.5M | — | — | — |
| Total current liabilities | $19.2M | $22.2M | $19.2M | $197.5M | $81.5M | $73.2M | $10.6M | $10.4M | $11.8M | $5.4M |
| Long-term debt | $0 | $0 | $0 | $0 | $83.6M | $81.4M | $0 | $0 | $448,000 | $6.2M |
| Lease obligations | $1.1M | $356,000 | $1.2M | $7.5M | $4.2M | $5.5M | $3.8M | — | — | — |
| Other long-term liabilities | $1.9M | $503,000 | $1.7M | $9.8M | $7.2M | $11.8M | $3.5M | $844,000 | $0 | $0 |
| Total liabilities | $21.1M | $22.7M | $21.0M | $207.3M | $172.3M | $166.4M | $14.1M | $11.2M | $12.3M | $11.5M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $147.6M | $35.0M | $21.4M | $2.8M | $1.5M | $1.1M | $962,000 | $767,000 | $575,000 | $441,000 |
| Retained earnings (deficit) | −$413.8M | −$414.8M | −$407.7M | −$433.9M | −$367.9M | −$280.3M | −$208.4M | −$169.1M | −$132.9M | −$89.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | −$444,000 | −$341,000 | −$251,000 | −$170,000 |
| Total shareholders' equity | $4.3M | −$4.7M | $2.1M | −$48.4M | $8.9M | $13.9M | $60.0M | $51.2M | $45.1M | $62.7M |
| Key figures | ||||||||||
| Total debt | $1.1M | $356,000 | $1.2M | $122.7M | $87.8M | $86.9M | $3.8M | — | $448,000 | $6.2M |
| Net cash (debt) | $2.9M | $4.3M | $5.2M | −$102.7M | −$49.8M | −$57.1M | $44.1M | — | $45.8M | $60.0M |
| Working capital | −$12.7M | −$10.3M | −$3.1M | −$111.6M | $7.7M | −$2.7M | $42.6M | $46.4M | $39.8M | $62.5M |
| Tangible book value | −$1.0M | −$10.2M | −$3.5M | −$114.0M | −$62.8M | −$74.0M | $43.1M | $45.9M | $39.8M | $56.6M |
| Book value per share | $1.35 | −$1.90 | — | — | — | — | — | — | — | — |
| Shares outstanding | 3.2M | 2.5M | — | — | — | — | — | — | — | — |
| Current ratio | 0.34 | 0.54 | 0.84 | 0.44 | 1.09 | 0.96 | 5.01 | 5.47 | 4.37 | 12.66 |
| Quick ratio | 0.34 | 0.37 | 0.50 | 0.29 | 0.87 | 0.81 | 4.66 | 5.26 | 4.10 | 12.44 |
| Debt / equity | 0.25 | — | 0.57 | — | 9.89 | 6.27 | 0.06 | — | 0.01 | 0.10 |
| Equity / assets | 16.8% | −26.0% | 9.0% | −30.5% | 4.9% | 7.7% | 81.0% | 82.0% | 78.6% | 84.5% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $4.0M | $4.0M | $4.0M | $2.9M | $2.9M | $4.6M | $4.6M | $7.3M | $7.3M | $5.6M | $7.0M | $20.0M |
| Cash & equivalents | $4.0M | $4.0M | $1.3M | $2.9M | $2.9M | $4.6M | $1.9M | $7.3M | $7.3M | $5.6M | $7.0M | $20.0M |
| Short-term investments | — | — | $2.6M | — | $2.7M | — | $2.7M | — | — | — | $18,000 | $15,000 |
| Receivables | $2.5M | $79,000 | $79,000 | $6.4M | $5.3M | $2.5M | $2.5M | $3.9M | $974,000 | $2.6M | $6.0M | $37.9M |
| Inventory | $0 | $0 | $0 | $3.2M | $3.2M | $3.7M | $3.7M | $3.8M | $3.8M | $4.4M | $4.9M | $11.0M |
| Other current assets | $78,000 | $2.5M | $2.5M | $160,000 | $1.2M | $1.1M | $1.1M | $739,000 | $3.6M | $3.6M | $9.1M | $17.0M |
| Total current assets | $6.5M | $6.5M | $6.5M | $12.6M | $12.6M | $11.9M | $11.9M | $15.7M | $15.7M | $16.1M | $27.0M | $85.9M |
| Property, plant & equipment (net) | $1.1M | $1.1M | $1.1M | $289,000 | $289,000 | $437,000 | $437,000 | $616,000 | $616,000 | $1.2M | $2.3M | $7.2M |
| Goodwill & intangible assets | $5.3M | $5.3M | $5.3M | $5.5M | $5.5M | $5.5M | $5.5M | $5.6M | $5.6M | $5.6M | −$54.4M | $5.6M |
| Long-term investments | $0 | $12.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $12.4M | $371,000 | $12.4M | $0 | $0 | $148,000 | $148,000 | $143,000 | $143,000 | $147,000 | $60.2M | $60.2M |
| Total assets | $25.3M | $25.3M | $25.3M | $18.4M | $18.4M | $18.0M | $18.0M | $22.0M | $22.0M | $23.0M | $35.0M | $158.9M |
| Liabilities | ||||||||||||
| Accounts payable | $6.4M | $6.4M | $731,000 | $835,000 | $835,000 | $7.9M | $1.2M | $1.9M | $1.9M | $3.3M | $3.1M | $4.2M |
| Short-term debt | $170,000 | — | $170,000 | $214,000 | $214,000 | — | $353,000 | $368,000 | $368,000 | $718,000 | $1.3M | $116.2M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | $7.4M | — |
| Total current liabilities | $19.2M | $19.2M | $19.2M | $22.3M | $22.3M | $22.2M | $22.2M | $21.2M | $21.2M | $20.0M | $28.2M | $197.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $1.1M | — | $214,000 | — | $356,000 | — | $558,000 | — | — | $2.3M | $7.0M |
| Other long-term liabilities | $1.9M | $1.9M | $1.9M | $500,000 | $500,000 | $503,000 | $503,000 | $730,000 | $730,000 | $995,000 | $3.4M | $9.8M |
| Total liabilities | $21.1M | $21.1M | $21.1M | $22.8M | $22.8M | $22.7M | $22.7M | $22.0M | $22.0M | $21.0M | $31.6M | $207.3M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $147.6M | — | $147.6M | $63.4M | $63.4M | — | $35.0M | $34.8M | $34.8M | $21.4M | $4.6M | $2.8M |
| Retained earnings (deficit) | −$413.8M | −$413.8M | −$413.8M | −$418.1M | −$418.1M | −$414.8M | −$414.8M | −$410.1M | −$410.1M | −$407.7M | −$382.0M | −$433.9M |
| Total shareholders' equity | $4.3M | $4.3M | $4.3M | −$4.4M | −$4.4M | −$4.7M | −$4.7M | $61,000 | $61,000 | $2.1M | $3.5M | −$48.4M |
| Key figures | ||||||||||||
| Total debt | $1.1M | — | $1.1M | $214,000 | $214,000 | — | $356,000 | $558,000 | $558,000 | $1.2M | $2.3M | $122.7M |
| Net cash (debt) | $2.9M | — | $2.9M | $2.7M | $2.7M | — | $4.3M | $6.7M | $6.7M | $4.4M | $4.7M | −$102.7M |
| Working capital | −$12.7M | −$12.7M | −$12.7M | −$9.7M | −$9.7M | −$10.3M | −$10.3M | −$5.5M | −$5.5M | −$3.8M | −$1.1M | −$111.6M |
| Tangible book value | −$1.0M | −$1.0M | −$1.0M | −$9.9M | −$9.9M | −$10.2M | −$10.2M | −$5.5M | −$5.5M | −$3.5M | $57.9M | −$54.0M |
| Book value per share | — | — | — | −$2.45 | −$2.45 | −$1.82 | −$1.82 | $0.03 | $0.03 | — | — | — |
| Shares outstanding | — | — | — | 1.8M | 1.8M | 2.6M | 2.6M | 2.4M | 2.4M | — | — | — |
| Current ratio | 0.34 | 0.34 | 0.34 | 0.56 | 0.56 | 0.54 | 0.54 | 0.74 | 0.74 | 0.81 | 0.96 | 0.44 |
| Quick ratio | 0.34 | 0.21 | 0.21 | 0.41 | 0.37 | 0.32 | 0.32 | 0.53 | 0.39 | 0.41 | 0.46 | 0.29 |
| Debt / equity | 0.25 | — | 0.25 | — | — | — | — | 9.15 | 9.15 | 0.57 | 0.66 | — |
| Equity / assets | 16.8% | 16.8% | 16.8% | −24.0% | −24.0% | −26.0% | −26.0% | 0.3% | 0.3% | 9.0% | 9.9% | −30.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 27, 2026); data from EODHD.
RDHL financial position
At the end of fiscal 2025 (December 31, 2025), RedHill Biopharma had total assets of $25.3 million (up 40.5% from a year earlier), total liabilities of $21.1 million and shareholders' equity of $4.3 million. It held $4.0 million in cash and short-term investments against $1.1 million of debt, a net cash position of $2.9 million. Its current ratio was 0.34. In the latest quarter (ended March 31, 2026) total assets were $25.3 million and equity $4.3 million.
Related: RDHL income statement, RDHL cash flow statement, RDHL key metrics. See the RDHL stock overview for the latest quote and news.
RDHL balance sheet FAQ
What are RedHill Biopharma's total assets?
RedHill Biopharma reported total assets of $25.3 million at the end of fiscal 2025 (December 31, 2025), compared with $18.0 million a year earlier.
How much debt does RedHill Biopharma have?
RedHill Biopharma had $1.1 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 RedHill Biopharma have?
RedHill Biopharma held $4.0 million in cash and short-term investments at the end of fiscal 2025; with $1.1 million of debt that is net cash of $2.9 million.
What is RedHill Biopharma's book value?
RedHill Biopharma's shareholders' equity (book value) was $4.3 million at the end of fiscal 2025, or $1.35 per share.
What is RedHill Biopharma's current ratio?
RedHill Biopharma had current assets of $6.5 million and current liabilities of $19.2 million, a current ratio of 0.34 (current liabilities exceed current assets).
How much goodwill does RedHill Biopharma have?
RedHill Biopharma carried $5.3 million of goodwill and intangible assets, 20.9% of total assets, at the end of fiscal 2025.