XCF Global, Inc. (SAFX) Balance Sheet
SAFX balance sheet, 2025
December 31, 2025 · U.S. dollars$419.5M assets = $381.8M liabilities + $37.7M equity
Both columns are drawn to the same scale: what SAFX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SAFX financial health
Descriptive bands, not a rating. Fiscal 2025.
SAFX balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $234.0M2021 | $419.5M2025 | +15.7%/yr | |
| Total liabilities | $17.0M2021 | $381.8M2025 | +117.7%/yr | |
| Shareholders’ equity | $217.0M2021 | $37.7M2025 | −35.5%/yr | |
| Cash & short-term investments | $1.1M2021 | $154,9372025 | −39.2%/yr | |
| Total debt | $9.0M2021 | $121.9M2025 | +92.1%/yr | |
| Net cash (debt) | −$7.8M2021 | −$121.8M2025 | −$113.9M | |
| Working capital | −$7.3M2021 | −$221.4M2025 | −$214.1M | |
| Current ratio | 0.192021 | 0.112025 | −0.08 | |
| Debt / equity | 0.042021 | 3.242025 | +3.20 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SAFX assets
SAFX liabilities and equity
SAFX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SAFX balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $154,937 | $19,669 | $631,337 | $13,715 | $1.1M |
| Cash & equivalents | $154,937 | $19,669 | $631,337 | $13,715 | $1.1M |
| Receivables | $24.6M | $24,700 | $138,277 | $0 | $0 |
| Inventory | $337,971 | $0 | $0 | $0 | $0 |
| Other current assets | $2.6M | $11,830 | $11,306 | $0 | $570,994 |
| Total current assets | $27.6M | $56,199 | $780,920 | $13,715 | $1.7M |
| Property, plant & equipment (net) | $390.3M | $351.4M | $13.2M | $0 | $0 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.5M | $0 | $11.3M | $51.3M | $232.3M |
| Total assets | $419.5M | $13.8M | $25.3M | $51.4M | $234.0M |
| Liabilities | |||||
| Accounts payable | $40.3M | $5.2M | $4.9M | — | — |
| Short-term debt | $121.9M | $959,839 | $346,353 | $300,000 | $9.0M |
| Total current liabilities | $249.0M | $8.1M | $2.9M | $3.2M | $9.0M |
| Long-term debt | $0 | $0 | $94.5M | $0 | $0 |
| Other long-term liabilities | $132.8M | $115,869 | $132.7M | $8.1M | $8.0M |
| Total liabilities | $381.8M | $8.2M | $2.9M | $11.2M | $17.0M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $20,646 | $13.3M | $24.0M | $50.1M | $230.0M |
| Retained earnings (deficit) | −$16.7M | −$7.7M | −$1.6M | −$10.0M | −$13.0M |
| Total shareholders' equity | $37.7M | $5.5M | $22.5M | $40.1M | $217.0M |
| Key figures | |||||
| Total debt | $121.9M | $959,839 | $346,353 | $300,000 | $9.0M |
| Net cash (debt) | −$121.8M | −$940,170 | $284,984 | −$286,285 | −$7.8M |
| Working capital | −$221.4M | −$8.0M | −$2.1M | −$3.2M | −$7.3M |
| Tangible book value | $37.7M | $5.5M | $22.5M | $40.1M | $217.0M |
| Book value per share | $0.26 | — | — | — | — |
| Shares outstanding | 142.3M | — | — | — | — |
| Current ratio | 0.11 | 0.01 | 0.27 | 0.00 | 0.19 |
| Quick ratio | 0.10 | 0.01 | 0.27 | 0.00 | 0.13 |
| Debt / equity | 3.24 | 0.17 | 0.02 | 0.01 | 0.04 |
| Equity / assets | 9.0% | 40.3% | 88.6% | 78.1% | 92.7% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||||
| Cash & short-term investments | $329,084 | $1.0M | $154,937 | $884,484 | $22,604 | $19,669 | $34,907 | $50,205 | $577,592 | $631,337 | $56,600 |
| Cash & equivalents | $329,084 | $1.0M | $154,937 | $884,484 | $22,604 | $19,669 | $34,907 | $50,205 | $577,592 | $631,337 | $56,600 |
| Receivables | $3.4M | $1.2M | $24.6M | $22.0M | $0 | $24,700 | $10,199 | $485,705 | $54,273 | $138,277 | $0 |
| Inventory | $7.4M | $38,752 | $337,971 | $4.4M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.5M | $2.0M | $2.6M | $1.7M | $5,863 | $11,830 | $0 | $2,869 | $7,087 | $11,306 | $0 |
| Total current assets | $12.6M | $4.2M | $27.6M | $29.0M | $28,467 | $56,199 | $45,106 | $538,779 | $638,952 | $780,920 | $56,600 |
| Property, plant & equipment (net) | $407.6M | $398.4M | $390.3M | $379.7M | $0 | $351.4M | $13.2M | $13.2M | $13.2M | $13.2M | $0 |
| Goodwill & intangible assets | $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 |
| Other non-current assets | $800,000 | $300,000 | $1.5M | $0 | $13.8M | $0 | $0 | $11.8M | $11.6M | $11.3M | $53.3M |
| Total assets | $421.0M | $403.0M | $419.5M | $408.7M | $13.9M | $13.8M | $13.3M | $25.6M | $25.5M | $25.3M | $53.4M |
| Liabilities | |||||||||||
| Accounts payable | $42.1M | $29.2M | $40.3M | $30.7M | $39,453 | $5.2M | — | — | — | — | — |
| Short-term debt | $124.6M | $121.3M | $121.9M | $169.3M | $1.2M | $959,839 | $1.7M | $738,431 | $671,747 | $346,353 | $548,560 |
| Total current liabilities | $250.9M | $244.8M | $249.0M | $265.5M | $9.6M | $8.1M | $3.9M | $7.0M | $5.4M | $2.9M | $2.3M |
| Long-term debt | $0 | $0 | $0 | $5.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $132.8M | $132.8M | $132.8M | $132.8M | $115,869 | $115,869 | $115,870 | $0 | $0 | $0 | $8.1M |
| Total liabilities | $383.8M | $377.7M | $381.8M | $403.5M | $9.7M | $8.2M | $3.9M | $7.0M | $5.4M | $2.9M | $10.4M |
| Shareholders' equity | |||||||||||
| Common stock & paid-in capital | $39,452 | $29,092 | $20,646 | $14,926 | $13.3M | $13.3M | $64,150 | $64,150 | $24.4M | $24.0M | $52.3M |
| Retained earnings (deficit) | −$48.7M | −$34.5M | −$16.7M | −$444,511 | −$9.2M | −$7.7M | −$3.5M | −$2.4M | −$4.3M | −$1.6M | −$9.3M |
| Total shareholders' equity | $37.3M | $25.3M | $37.7M | $5.2M | $4.1M | $5.5M | $9.4M | $18.7M | $20.1M | $22.5M | $43.0M |
| Key figures | |||||||||||
| Total debt | $257.4M | $121.3M | $121.9M | $307.4M | $1.2M | $959,839 | $1.7M | $738,431 | $671,747 | $346,353 | $548,560 |
| Net cash (debt) | −$257.1M | −$120.2M | −$121.8M | −$306.5M | −$1.2M | −$940,170 | −$1.7M | −$688,226 | −$94,155 | $284,984 | −$491,960 |
| Working capital | −$238.4M | −$240.6M | −$221.4M | −$236.5M | −$9.6M | −$8.0M | −$3.9M | −$6.4M | −$4.8M | −$2.1M | −$2.3M |
| Tangible book value | $37.3M | $25.3M | $37.7M | $5.2M | $4.1M | $5.5M | $9.4M | $18.7M | $20.1M | $22.5M | $43.0M |
| Book value per share | $0.26 | $0.18 | $0.26 | $0.03 | $0.03 | — | — | — | — | — | — |
| Shares outstanding | 142.3M | 142.3M | 142.3M | 149.5M | 138.4M | — | — | — | — | — | — |
| Current ratio | 0.05 | 0.02 | 0.11 | 0.11 | 0.00 | 0.01 | 0.01 | 0.08 | 0.12 | 0.27 | 0.02 |
| Quick ratio | 0.01 | 0.01 | 0.10 | 0.09 | 0.00 | 0.01 | 0.01 | 0.08 | 0.12 | 0.27 | 0.02 |
| Debt / equity | 6.91 | 4.79 | 3.24 | 58.93 | 0.29 | 0.17 | 0.19 | 0.04 | 0.03 | 0.02 | 0.01 |
| Equity / assets | 8.9% | 6.3% | 9.0% | 1.3% | 29.7% | 40.3% | 70.4% | 72.8% | 78.7% | 88.6% | 80.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
SAFX financial position
At the end of fiscal 2025 (December 31, 2025), XCF Global had total assets of $419.5 million (up 2,949.4% from a year earlier), total liabilities of $381.8 million and shareholders' equity of $37.7 million. It held $0.2 million in cash and short-term investments against $121.9 million of debt, net debt of $121.8 million. Its current ratio was 0.11. In the latest quarter (ended June 30, 2026) total assets were $421.0 million and equity $37.3 million.
Related: SAFX income statement, SAFX cash flow statement, SAFX key metrics. See the SAFX stock overview for the latest quote and news.
SAFX balance sheet FAQ
What are XCF Global's total assets?
XCF Global reported total assets of $419.5 million at the end of fiscal 2025 (December 31, 2025), compared with $13.8 million a year earlier.
How much debt does XCF Global have?
XCF Global had $121.9 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 3.24.
How much cash does XCF Global have?
XCF Global held $0.2 million in cash and short-term investments at the end of fiscal 2025; with $121.9 million of debt that is net debt of $121.8 million.
What is XCF Global's book value?
XCF Global's shareholders' equity (book value) was $37.7 million at the end of fiscal 2025, or $0.26 per share.
What is XCF Global's current ratio?
XCF Global had current assets of $27.6 million and current liabilities of $249.0 million, a current ratio of 0.11 (current liabilities exceed current assets).