Smith Douglas Homes Corp. (SDHC) Balance Sheet
SDHC balance sheet, 2025
December 31, 2025 · U.S. dollars$557.6M assets = $113.5M liabilities + $444.1M equity
Both columns are drawn to the same scale: what SDHC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SDHC financial health
Descriptive bands, not a rating. Fiscal 2025.
SDHC balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $201.2M2021 | $557.6M2025 | +29.0%/yr | |
| Total liabilities | $105.7M2021 | $113.5M2025 | +1.8%/yr | |
| Shareholders’ equity | $95.5M2021 | $86.7M2025 | −2.4%/yr | |
| Cash & short-term investments | $25.3M2021 | $12.7M2025 | −15.8%/yr | |
| Total debt | $74.4M2021 | $74.1M2025 | −0.1%/yr | |
| Net cash (debt) | −$49.1M2021 | −$61.4M2025 | −$12.3M | |
| Working capital | $77.9M2021 | $445.9M2025 | +$368.0M | |
| Book value per share | $8.322024 | $9.412025 | +13.1%/yr | |
| Debt / equity | 0.782021 | 0.852025 | +0.08 | |
| Shares outstanding | 8.8M2024 | 9.2M2025 | +4.1%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SDHC assets
SDHC liabilities and equity
SDHC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SDHC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $12.7M | $22.4M | $19.8M | $29.6M | $25.3M |
| Cash & equivalents | $12.7M | $22.4M | $19.8M | $29.6M | $25.3M |
| Receivables | $15.7M | $14.9M | $10.6M | $9.0M | $3.6M |
| Inventory | $298.6M | $277.8M | $213.1M | $142.1M | $138.9M |
| Other current assets | $144.0M | $105.8M | $60.6M | $0 | $558,000 |
| Total current assets | $471.1M | $420.9M | $304.0M | $171.7M | $168.4M |
| Property, plant & equipment (net) | $39.7M | $12.7M | $3.3M | $3.4M | $2.1M |
| Goodwill & intangible assets | $25.7M | $25.7M | $25.7M | $0 | $0 |
| Long-term investments | $2.3M | $1.0M | $0 | $448,000 | $2.3M |
| Other non-current assets | $18.8M | $15.6M | $19.6M | $47.9M | $28.3M |
| Total assets | $557.6M | $475.9M | $352.7M | $223.4M | $201.2M |
| Liabilities | |||||
| Accounts payable | $1.9M | $17.2M | $17.3M | $10.9M | $8.8M |
| Short-term debt | $1.9M | $1,000 | $1.5M | $1.3M | $72.0M |
| Deferred revenue | $3.1M | $5.3M | $7.2M | $9.4M | $9.9M |
| Total current liabilities | $25.3M | $48.1M | $31.3M | $36.8M | $90.5M |
| Long-term debt | $44.1M | $3.1M | $75.6M | $15.0M | $0 |
| Lease obligations | $30.1M | $9.0M | $18.7M | $4.5M | $2.4M |
| Other long-term liabilities | $44.1M | $23.0M | $36.9M | $7.1M | $15.1M |
| Total liabilities | $113.5M | $74.2M | $143.8M | $58.9M | $105.7M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $5,000 | $5,000 | $208.9M | $164.5M | $95.5M |
| Retained earnings (deficit) | $26.1M | $15.4M | — | — | — |
| Minority interest | $357.4M | $328.1M | — | — | — |
| Total shareholders' equity | $86.7M | $73.6M | $208.9M | $164.5M | $95.5M |
| Key figures | |||||
| Total debt | $74.1M | $12.1M | $79.0M | $18.4M | $74.4M |
| Net cash (debt) | −$61.4M | $10.3M | −$59.2M | $11.2M | −$49.1M |
| Working capital | $445.9M | $372.8M | $272.7M | $134.9M | $77.9M |
| Tangible book value | $61.0M | $47.9M | $183.2M | $164.5M | $95.5M |
| Book value per share | $9.41 | $8.32 | — | — | — |
| Shares outstanding | 9.2M | 8.8M | — | — | — |
| Current ratio | 18.64 | 8.75 | 9.72 | 4.67 | 1.86 |
| Quick ratio | 1.13 | 0.77 | 0.97 | 1.05 | 0.32 |
| Debt / equity | 0.85 | 0.16 | 0.38 | 0.11 | 0.78 |
| Equity / assets | 15.6% | 15.5% | 59.2% | 73.6% | 47.5% |
| 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 | $14.2M | $28.0M | $12.7M | $14.8M | $16.8M | $12.7M | $22.4M | $23.7M | $17.3M | $32.8M | $19.8M | $60.9M |
| Cash & equivalents | $14.2M | $28.0M | $12.7M | $14.8M | $16.8M | $12.7M | $22.4M | $23.7M | $17.3M | $32.8M | $19.8M | $60.9M |
| Receivables | $0 | $0 | $15.7M | $0 | $0 | $0 | $14.9M | $0 | −$100,000 | $6.2M | $0 | $1 |
| Inventory | $331.2M | $314.7M | $298.6M | $314.5M | $320.8M | $295.0M | $277.8M | $282.0M | $266.6M | $234.1M | $213.1M | $220.7M |
| Other current assets | $0 | $0 | $144.0M | $135.8M | $132.4M | $119.3M | $105.8M | $80.2M | $66.4M | $67.5M | $71.1M | $46.7M |
| Total current assets | $345.4M | $342.7M | $471.1M | $465.1M | $470.0M | $427.0M | $420.9M | $385.9M | $350.1M | $340.6M | $304.0M | $328.3M |
| Property, plant & equipment (net) | $9.2M | $9.4M | $39.7M | $38.3M | $35.0M | $11.8M | $12.7M | $13.0M | $17.0M | $16.9M | $20.1M | $20.0M |
| Goodwill & intangible assets | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $25.7M | $16.5M |
| Long-term investments | $0 | $0 | $2.3M | $0 | $0 | $0 | $1.0M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $211.8M | $222.3M | $18.8M | $42.4M | $39.5M | $49.4M | $15.6M | $35.4M | $36.4M | $18.1M | $2.8M | $20.2M |
| Total assets | $592.1M | $600.2M | $557.6M | $571.6M | $570.2M | $513.9M | $475.9M | $460.1M | $429.3M | $401.2M | $352.7M | $385.0M |
| Liabilities | ||||||||||||
| Accounts payable | $26.9M | $23.3M | $1.9M | $21.1M | $15.8M | $19.9M | $17.2M | $23.5M | $21.5M | $11.5M | $17.3M | $16.4M |
| Short-term debt | $752,000 | $1.3M | — | $562,000 | $1.1M | — | — | — | $5,000 | $1.5M | — | $1.2M |
| Deferred revenue | $6.0M | $5.1M | $3.1M | $5.2M | $5.9M | $5.6M | $5.3M | $7.6M | $9.5M | $9.0M | — | $9.5M |
| Total current liabilities | $60.2M | $54.7M | $25.3M | $52.2M | $44.8M | $46.2M | $48.1M | $64.4M | $56.8M | $42.2M | $43.4M | $50.0M |
| Long-term debt | $66.0M | $68.5M | $44.1M | $53.6M | $74.1M | $42.6M | $3.1M | $3.5M | $3.9M | $4.2M | $75.6M | $5.0M |
| Lease obligations | $24.3M | $33.0M | $30.1M | $28.8M | $26.1M | $7.5M | $9.0M | $9.4M | $13.6M | $15.3M | $18.7M | $18.3M |
| Other long-term liabilities | $32.9M | $41.1M | $44.1M | $39.2M | $36.5M | $17.9M | $23.0M | $19.8M | $24.0M | $21.6M | $24.8M | $24.1M |
| Total liabilities | $159.1M | $164.3M | $113.5M | $145.1M | $155.4M | $106.8M | $74.2M | $87.7M | $84.7M | $68.1M | $143.8M | $79.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | $5,000 | — | $8,000 |
| Retained earnings (deficit) | $26.9M | $26.7M | $26.1M | $22.6M | $20.2M | $18.0M | $15.4M | $11.4M | $6.3M | $3.0M | — | — |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | $0 | — | — |
| Minority interest | $353.5M | $353.8M | $357.4M | $344.3M | $334.9M | — | — | — | — | — | — | — |
| Total shareholders' equity | $79.5M | $82.1M | $86.7M | $82.2M | $80.0M | $76.9M | $73.6M | $68.4M | $62.1M | $59.7M | $0 | $45.9M |
| Key figures | ||||||||||||
| Total debt | $68.7M | $70.4M | $74.1M | $82.5M | $100.2M | $50.1M | $12.1M | $12.9M | $17.5M | $19.6M | $75.6M | $23.3M |
| Net cash (debt) | −$54.5M | −$42.4M | −$61.4M | −$67.7M | −$83.4M | −$37.5M | $10.3M | $10.8M | −$196,000 | $13.2M | −$55.9M | $37.5M |
| Working capital | $285.2M | $288.0M | $445.9M | $412.8M | $425.2M | $380.8M | $372.8M | $321.6M | $293.3M | $298.3M | $260.6M | $278.3M |
| Tangible book value | $53.7M | $56.3M | $61.0M | $56.5M | $54.3M | $51.1M | $47.9M | $42.7M | $36.4M | $34.0M | −$25.7M | $29.4M |
| Book value per share | $8.78 | $9.06 | $9.57 | $9.00 | $8.76 | $8.42 | $8.07 | — | — | — | — | — |
| Shares outstanding | 9.1M | 9.1M | 9.1M | 9.1M | 9.1M | 9.1M | 9.1M | — | — | — | — | — |
| Current ratio | 5.73 | 6.26 | 18.64 | 8.90 | 10.50 | 9.24 | 8.75 | 5.99 | 6.16 | 8.06 | 7.01 | 6.57 |
| Quick ratio | 0.24 | 0.51 | 1.13 | 0.28 | 0.37 | 0.27 | 0.77 | 0.37 | 0.30 | 0.92 | 0.46 | 1.22 |
| Debt / equity | 0.86 | 0.86 | 0.85 | 1.00 | 1.25 | 0.65 | 0.16 | 0.19 | 0.28 | 0.33 | — | 0.51 |
| Equity / assets | 13.4% | 13.7% | 15.6% | 14.4% | 14.0% | 15.0% | 15.5% | 14.9% | 14.5% | 14.9% | 0.0% | 11.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
SDHC financial position
At the end of fiscal 2025 (December 31, 2025), Smith Douglas Homes had total assets of $557.6 million (up 17.2% from a year earlier), total liabilities of $113.5 million and shareholders' equity of $86.7 million. It held $12.7 million in cash and short-term investments against $74.1 million of debt, net debt of $61.4 million. Its current ratio was 18.64. In the latest quarter (ended June 30, 2026) total assets were $592.1 million and equity $79.5 million.
Related: SDHC income statement, SDHC cash flow statement, SDHC key metrics. See the SDHC stock overview for the latest quote and news.
SDHC balance sheet FAQ
What are Smith Douglas Homes's total assets?
Smith Douglas Homes reported total assets of $557.6 million at the end of fiscal 2025 (December 31, 2025), compared with $475.9 million a year earlier.
How much debt does Smith Douglas Homes have?
Smith Douglas Homes had $74.1 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.85.
How much cash does Smith Douglas Homes have?
Smith Douglas Homes held $12.7 million in cash and short-term investments at the end of fiscal 2025; with $74.1 million of debt that is net debt of $61.4 million.
What is Smith Douglas Homes's book value?
Smith Douglas Homes's shareholders' equity (book value) was $86.7 million at the end of fiscal 2025, or $9.41 per share.
What is Smith Douglas Homes's current ratio?
Smith Douglas Homes had current assets of $471.1 million and current liabilities of $25.3 million, a current ratio of 18.64 (it can cover its short-term obligations).
How much goodwill does Smith Douglas Homes have?
Smith Douglas Homes carried $25.7 million of goodwill and intangible assets, 4.6% of total assets, at the end of fiscal 2025.