RideNow Group, Inc. (RDNW) Balance Sheet
RDNW balance sheet, 2025
December 31, 2025 · U.S. dollars$673.6M assets = $686.1M liabilities + −$12.5M equity
Liabilities exceed assets: shareholders’ equity is negative (−$12.5M).
Both columns are drawn to the same scale: what RDNW owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RDNW financial health
Descriptive bands, not a rating. Fiscal 2025.
RDNW balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.4M2016 | $673.6M2025 | +98.7%/yr | |
| Total liabilities | $304,3212016 | $686.1M2025 | +135.8%/yr | |
| Shareholders’ equity | $1.1M2016 | −$12.5M2025 | — | |
| Cash & short-term investments | $1.4M2016 | $29.5M2025 | +40.9%/yr | |
| Total debt | $1,2822016 | $554.0M2025 | +322.8%/yr | |
| Net cash (debt) | $1.3M2016 | −$524.5M2025 | −$525.8M | |
| Working capital | $1.1M2016 | $38.2M2025 | +$37.1M | |
| Book value per share | $12.982022 | −$0.332025 | — | |
| Current ratio | 6.172016 | 1.132025 | −5.04 | |
| Debt / equity | 0.002016 | 18.142024 | +18.14 | |
| Shares outstanding | 15.9M2022 | 38.0M2025 | +33.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RDNW assets
RDNW liabilities and equity
RDNW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RDNW balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $29.5M | $85.3M | $58.9M | $46.8M | $49.0M | $1.5M | $49,660 | $9.1M | $9.2M | $1.4M |
| Cash & equivalents | $29.5M | $85.3M | $58.9M | $48.6M | $49.0M | $1.5M | $49,660 | $9.1M | $9.2M | $1.4M |
| Receivables | $28.9M | $30.5M | $50.3M | $28.0M | $40.2M | $9.4M | $8.5M | $8.5M | $577,107 | $0 |
| Inventory | $257.4M | $240.6M | $347.5M | $323.5M | $201.7M | $21.4M | $57.4M | $52.2M | $2.8M | $0 |
| Other current assets | $18.9M | $15.0M | $24.1M | $62.5M | $10.8M | $5.5M | $7.9M | $7.7M | $308,880 | $1,667 |
| Total current assets | $334.7M | $371.4M | $480.8M | $460.8M | $301.6M | $37.7M | $73.8M | $77.5M | $12.9M | $1.4M |
| Property, plant & equipment (net) | $210.9M | $220.6M | $240.7M | $237.9M | $154.5M | $12.2M | $12.5M | $5.2M | $3.4M | $1.4M |
| Goodwill & intangible assets | $127.0M | $161.9M | $203.3M | $268.6M | $563.0M | $26.9M | $26.9M | $26.2M | $1.9M | $45,515 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.0M | $1.3M | $1.5M | $60.0M | $26.2M | $104,639 | $192,308 | $0 | $0 | $0 |
| Total assets | $673.6M | $755.2M | $926.3M | $1.03B | $1.05B | $77.0M | $113.4M | $108.9M | $18.2M | $1.4M |
| Liabilities | ||||||||||
| Accounts payable | $77.7M | $5.8M | $7.1M | $13.7M | $10.0M | $7.3M | $8.7M | $7.5M | $1.1M | $219,101 |
| Short-term debt | $218.8M | $273.3M | $350.8M | $247.9M | $122.0M | $22.9M | $61.9M | $58.6M | $1.1M | — |
| Deferred revenue | — | $2.9M | — | $5.4M | $5.7M | — | — | — | −$84,906 | — |
| Total current liabilities | $296.5M | $324.4M | $395.0M | $311.7M | $183.9M | $35.4M | $73.7M | $69.3M | $2.3M | $219,101 |
| Long-term debt | $207.2M | $212.0M | $238.7M | $374.4M | $282.8M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $150.7M | $154.1M | $158.0M | $150.8M | $134.9M | — | — | — | — | — |
| Other long-term liabilities | $182.4M | $182.1M | $187.0M | $135.1M | $134.2M | $37.0M | $26.8M | $8.8M | $1.5M | $85,220 |
| Total liabilities | $686.1M | $718.5M | $820.7M | $821.2M | $614.0M | $72.4M | $100.5M | $78.1M | $3.8M | $304,321 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | — | — | — | $16,000 | $15,000 | $2,242 | $1,162 | $18,486 | $12,929 | $6,400 |
| Retained earnings (deficit) | −$712.3M | −$659.9M | −$591.1M | −$375.6M | −$114.1M | −$104.4M | −$79.4M | −$34.2M | −$9.0M | −$445,974 |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | −$1.6M | −$668,467 | −$1,000 |
| Total shareholders' equity | −$12.5M | $36.7M | $105.6M | $206.0M | $431.3M | $4.6M | $12.9M | $30.8M | $14.4M | $1.1M |
| Key figures | ||||||||||
| Total debt | $554.0M | $665.7M | $771.6M | $749.0M | $522.4M | $59.1M | $88.7M | $67.3M | $2.5M | $1,282 |
| Net cash (debt) | −$524.5M | −$580.4M | −$712.7M | −$702.2M | −$473.4M | −$57.6M | −$88.7M | −$58.2M | $6.6M | $1.3M |
| Working capital | $38.2M | $47.0M | $85.8M | $149.1M | $117.7M | $2.3M | $105,785 | $8.2M | $10.6M | $1.1M |
| Tangible book value | −$139.5M | −$125.2M | −$97.7M | −$62.5M | −$131.7M | −$22.4M | −$14.0M | $4.6M | $12.5M | $1.0M |
| Book value per share | −$0.33 | $1.04 | $5.95 | $12.98 | — | — | — | — | — | — |
| Shares outstanding | 38.0M | 35.4M | 17.7M | 15.9M | — | — | — | — | — | — |
| Current ratio | 1.13 | 1.14 | 1.22 | 1.48 | 1.64 | 1.06 | 1.00 | 1.12 | 5.62 | 6.17 |
| Quick ratio | 0.20 | 0.36 | 0.28 | 0.24 | 0.48 | 0.31 | 0.12 | 0.25 | 4.25 | 6.16 |
| Debt / equity | — | 18.14 | 7.31 | 3.64 | 1.21 | 12.93 | 6.89 | 2.19 | 0.18 | 0.00 |
| Equity / assets | −1.9% | 4.9% | 11.4% | 20.1% | 41.3% | 5.9% | 11.4% | 28.3% | 79.1% | 78.2% |
| 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 | $46.7M | $30.2M | $29.5M | $35.4M | $59.8M | $41.1M | $85.3M | $50.1M | $58.1M | $63.4M | $77.0M | $41.4M |
| Cash & equivalents | $46.7M | $30.2M | $29.5M | $35.4M | $59.8M | $41.1M | $85.3M | $50.1M | $58.1M | $63.4M | $77.0M | $41.4M |
| Receivables | $27.9M | $31.2M | $28.9M | $33.7M | $29.0M | $26.8M | $30.5M | $30.0M | $35.4M | $33.5M | $50.3M | $33.7M |
| Inventory | $308.3M | $302.5M | $257.4M | $266.0M | $274.9M | $272.6M | $240.6M | $293.7M | $347.6M | $353.7M | $347.5M | $358.7M |
| Other current assets | $20.9M | $20.9M | $18.9M | $23.2M | $2.5M | $17.8M | $15.0M | $20.8M | $15.6M | $3.8M | $6.0M | $45.3M |
| Total current assets | $403.8M | $384.8M | $334.7M | $358.3M | $366.2M | $358.3M | $371.4M | $394.6M | $456.7M | $454.4M | $480.8M | $479.0M |
| Property, plant & equipment (net) | $204.5M | $208.9M | $210.9M | $212.2M | $217.1M | $217.6M | $220.6M | $232.9M | $236.2M | $240.3M | $240.7M | $245.8M |
| Goodwill & intangible assets | $127.0M | $127.0M | $127.0M | $127.8M | $127.8M | $161.8M | $161.9M | $201.5M | $201.6M | $202.5M | $215.3M | $264.4M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.0M | $1.0M | $1.0M | $1.1M | $1.2M | $1.2M | $1.3M | $1.5M | $1.5M | $1.5M | $41.7M | $69.9M |
| Total assets | $736.3M | $721.7M | $673.6M | $699.4M | $712.3M | $738.9M | $755.2M | $830.5M | $896.0M | $898.7M | $978.5M | $1.06B |
| Liabilities | ||||||||||||
| Accounts payable | — | $67.9M | $77.7M | $69.7M | $61.6M | $59.5M | $5.8M | $55.9M | $58.9M | $57.8M | $7.1M | $57.1M |
| Short-term debt | $274.6M | $278.3M | $218.8M | $249.9M | $255.3M | $241.3M | $273.3M | $281.7M | $348.9M | $368.0M | $350.8M | $302.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | −$72.1M | $3.5M | — |
| Total current liabilities | $354.1M | $346.2M | $296.5M | $319.6M | $316.9M | $315.6M | $324.4M | $351.9M | $407.8M | $411.5M | $395.0M | $384.4M |
| Long-term debt | $212.4M | $210.4M | $207.2M | $0 | $218.0M | $215.1M | $212.0M | $209.8M | $208.5M | $0 | $0 | $0 |
| Lease obligations | $123.9M | $126.4M | $150.7M | — | $129.7M | $129.0M | $154.1M | $133.2M | $134.1M | — | — | — |
| Other long-term liabilities | $0 | $181.3M | $182.4M | $386.7M | $182.1M | $181.3M | $182.1M | $185.5M | $186.3M | $394.5M | $477.9M | $499.6M |
| Total liabilities | $391.1M | $391.7M | $686.1M | $706.3M | $717.0M | $712.0M | $718.5M | $747.2M | $802.6M | $806.0M | $872.9M | $883.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | −$4.3M | −$4.3M | — | −$4.3M | −$4.3M | −$4.3M | −$4.3M | −$4.3M | — | — | — | $17,000 |
| Retained earnings (deficit) | −$710.1M | −$716.6M | −$712.3M | −$705.9M | −$701.8M | −$669.6M | −$659.9M | −$603.5M | −$592.3M | −$591.6M | −$591.1M | −$422.6M |
| Total shareholders' equity | $345.2M | $330.0M | −$12.5M | −$6.9M | −$4.7M | $26.9M | $36.7M | $83.3M | $93.4M | $92.7M | $105.6M | $175.1M |
| Key figures | ||||||||||||
| Total debt | $453.3M | $616.3M | $554.0M | $583.1M | $604.2M | $585.4M | $665.7M | $624.7M | $691.5M | $696.1M | $771.6M | $792.8M |
| Net cash (debt) | −$406.6M | −$586.1M | −$524.5M | −$547.7M | −$544.4M | −$544.3M | −$580.4M | −$574.6M | −$633.4M | −$632.7M | −$694.6M | −$751.4M |
| Working capital | $49.7M | $38.6M | $38.2M | $38.7M | $49.3M | $42.7M | $47.0M | $42.7M | $48.9M | $42.9M | $85.8M | $94.6M |
| Tangible book value | $218.2M | $203.0M | −$139.5M | −$134.7M | −$132.5M | −$134.9M | −$125.2M | −$118.2M | −$108.2M | −$109.8M | −$109.7M | −$89.2M |
| Book value per share | $8.86 | $8.59 | −$0.33 | −$0.18 | −$0.12 | $0.71 | $1.03 | $2.36 | $2.65 | $2.64 | $4.90 | $10.51 |
| Shares outstanding | 39.0M | 38.4M | 38.1M | 38.1M | 37.9M | 37.8M | 35.7M | 35.3M | 35.2M | 35.1M | 21.6M | 16.7M |
| Current ratio | 1.14 | 1.11 | 1.13 | 1.12 | 1.16 | 1.14 | 1.14 | 1.12 | 1.12 | 1.10 | 1.22 | 1.25 |
| Quick ratio | 0.21 | 0.18 | 0.20 | 0.22 | 0.28 | 0.22 | 0.36 | 0.23 | 0.23 | 0.24 | 0.32 | 0.20 |
| Debt / equity | 1.31 | 1.87 | — | — | — | 21.76 | 18.14 | 7.50 | 7.40 | 7.51 | 7.31 | 4.53 |
| Equity / assets | 46.9% | 45.7% | −1.9% | −1.0% | −0.7% | 3.6% | 4.9% | 10.0% | 10.4% | 10.3% | 10.8% | 16.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
RDNW financial position
At the end of fiscal 2025 (December 31, 2025), RideNow had total assets of $673.6 million (down 10.8% from a year earlier), total liabilities of $686.1 million and shareholders' equity of -$12.5 million. It held $29.5 million in cash and short-term investments against $554.0 million of debt, net debt of $524.5 million. Its current ratio was 1.13. In the latest quarter (ended June 30, 2026) total assets were $736.3 million and equity $345.2 million.
Related: RDNW income statement, RDNW cash flow statement, RDNW key metrics. See the RDNW stock overview for the latest quote and news.
RDNW balance sheet FAQ
What are RideNow's total assets?
RideNow reported total assets of $673.6 million at the end of fiscal 2025 (December 31, 2025), compared with $755.2 million a year earlier.
How much debt does RideNow have?
RideNow had $554.0 million 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 RideNow have?
RideNow held $29.5 million in cash and short-term investments at the end of fiscal 2025; with $554.0 million of debt that is net debt of $524.5 million.
What is RideNow's book value?
RideNow's shareholders' equity (book value) was -$12.5 million at the end of fiscal 2025, or −$0.33 per share.
What is RideNow's current ratio?
RideNow had current assets of $334.7 million and current liabilities of $296.5 million, a current ratio of 1.13 (it can cover its short-term obligations).
How much goodwill does RideNow have?
RideNow carried $127.0 million of goodwill and intangible assets, 18.9% of total assets, at the end of fiscal 2025.