Serve Robotics Inc. (SERV) Balance Sheet
SERV balance sheet, 2025
December 31, 2025 · U.S. dollars$367.8M assets = $17.0M liabilities + $350.7M equity
Both columns are drawn to the same scale: what SERV owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SERV financial health
Descriptive bands, not a rating. Fiscal 2025.
SERV balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $8.7M2021 | $367.8M2025 | +155.3%/yr | |
| Total liabilities | $336,3142021 | $17.0M2025 | +166.7%/yr | |
| Shareholders’ equity | $8.3M2021 | $350.7M2025 | +154.8%/yr | |
| Cash & short-term investments | $8.0M2021 | $233.4M2025 | +132.7%/yr | |
| Total debt | $7.5M2022 | $5.3M2025 | −11.1%/yr | |
| Net cash (debt) | −$4.8M2022 | $228.2M2025 | +$232.9M | |
| Working capital | $8.1M2021 | $227.8M2025 | +$219.7M | |
| Book value per share | $0.232021 | $5.632025 | +123.6%/yr | |
| Debt / equity | 0.022024 | 0.012025 | 0.00 | |
| Shares outstanding | 36.9M2021 | 62.3M2025 | +14.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SERV assets
SERV liabilities and equity
SERV debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SERV balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $233.4M | $123.3M | $6,756 | $2.7M | $8.0M |
| Cash & equivalents | $106.2M | $123.3M | $6,756 | $2.7M | $8.0M |
| Short-term investments | $127.2M | $0 | — | — | — |
| Receivables | $1.5M | $278,448 | $2,955 | $23,697 | $0 |
| Inventory | $0 | $309,711 | $774,349 | $618,262 | $463,422 |
| Other current assets | $6.1M | $1.4M | $676,969 | $81,339 | $11,163 |
| Total current assets | $241.1M | $125.3M | $1.5M | $3.4M | $8.4M |
| Property, plant & equipment (net) | $52.4M | $13.8M | $830,861 | $4.6M | $119,616 |
| Goodwill & intangible assets | $46.8M | $0 | $0 | $0 | $0 |
| Long-term investments | $26.3M | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.1M | $578,237 | $512,659 | $512,659 | $96,647 |
| Total assets | $367.8M | $139.6M | $2.8M | $8.5M | $8.7M |
| Liabilities | |||||
| Accounts payable | $5.0M | $4.9M | $2.1M | $162,034 | $336,314 |
| Short-term debt | $1.8M | $1.2M | $3.9M | $3.7M | — |
| Deferred revenue | $2,000 | $20,097 | — | — | — |
| Total current liabilities | $13.3M | $6.8M | $6.2M | $3.9M | $336,314 |
| Long-term debt | $0 | $0 | $230,933 | $1.2M | $0 |
| Lease obligations | $5.3M | $2.3M | $3.1M | $5.3M | $0 |
| Other long-term liabilities | $3.7M | $1.1M | $369,798 | $15.9M | $0 |
| Total liabilities | $17.0M | $7.9M | $6.8M | $21.0M | $336,314 |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $7,000 | $5,127 | $2,450 | $683 | $89 |
| Retained earnings (deficit) | −$208.9M | −$107.5M | −$68.3M | −$43.5M | −$21.7M |
| Accumulated other comprehensive income | $138,000 | — | — | — | $1 |
| Total shareholders' equity | $350.7M | $131.7M | −$4.0M | −$12.5M | $8.3M |
| Key figures | |||||
| Total debt | $5.3M | $2.3M | $4.4M | $7.5M | — |
| Net cash (debt) | $228.2M | $120.9M | −$4.4M | −$4.8M | — |
| Working capital | $227.8M | $118.4M | −$4.8M | −$457,985 | $8.1M |
| Tangible book value | $303.9M | $131.7M | −$4.0M | −$12.5M | $8.3M |
| Book value per share | $5.63 | $3.59 | −$0.11 | −$0.34 | $0.23 |
| Shares outstanding | 62.3M | 36.7M | 36.9M | 36.9M | 36.9M |
| Current ratio | 18.13 | 18.40 | 0.23 | 0.88 | 25.10 |
| Quick ratio | 17.67 | 18.15 | 0.00 | 0.70 | 23.69 |
| Debt / equity | 0.01 | 0.02 | — | — | — |
| Equity / assets | 95.4% | 94.3% | −143.8% | −145.7% | 96.1% |
| 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 | $235.4M | $187.5M | $233.4M | $210.4M | $183.3M | $197.8M | $123.3M | $50.9M | $28.8M | $427,482 | $6,756 | $3.5M |
| Cash & equivalents | $79.1M | $47.1M | $106.2M | $116.8M | $116.7M | $197.8M | $123.3M | $50.9M | $28.8M | $427,482 | $6,756 | $3.5M |
| Short-term investments | $156.3M | $140.4M | $127.2M | $93.6M | $66.6M | — | $0 | — | — | — | — | — |
| Receivables | $5.5M | $5.6M | $1.5M | $1.5M | $656,000 | $1.1M | $278,448 | $13,099 | $93,132 | $266,030 | $2,955 | $3,955 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $309,711 | $309,711 | $327,363 | $709,289 | $736,535 | $774,349 | $868,721 |
| Other current assets | $6.4M | $8.0M | $6.1M | $7.8M | $2.5M | $802,598 | $1.4M | $3.6M | $1.3M | $1.6M | $676,969 | $750,072 |
| Total current assets | $247.3M | $201.1M | $241.1M | $219.7M | $186.5M | $200.0M | $125.3M | $54.9M | $30.9M | $3.0M | $1.5M | $5.1M |
| Property, plant & equipment (net) | $60.6M | $61.8M | $52.4M | $34.1M | $21.0M | $16.2M | $13.8M | $6.1M | $1.4M | $702,301 | $830,861 | $2.9M |
| Goodwill & intangible assets | $62.5M | $64.5M | $46.8M | $44.7M | $6.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $5.0M | $9.9M | $26.3M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.3M | $3.4M | $1.1M | $612,000 | $759,000 | $417,407 | $578,237 | $512,659 | $512,658 | $512,659 | $512,659 | $512,659 |
| Total assets | $378.6M | $340.8M | $367.8M | $299.1M | $214.3M | $216.6M | $139.6M | $61.5M | $32.8M | $4.2M | $2.8M | $8.5M |
| Liabilities | ||||||||||||
| Accounts payable | $5.5M | $5.7M | $5.0M | $7.7M | $2.5M | $3.7M | $4.9M | $3.6M | $1.4M | $1.7M | $2.1M | $944,487 |
| Short-term debt | $2.4M | $1.9M | $1.8M | $1.7M | $1.2M | $712,562 | $1.2M | $1.5M | $2.8M | $8.4M | $3.9M | $3.8M |
| Deferred revenue | $2.0M | $2.5M | $2,000 | $3,000 | $10,000 | $20,097 | $20,097 | $14,097 | $52,863 | $68,899 | — | — |
| Total current liabilities | $19.3M | $19.7M | $13.3M | $12.8M | $5.7M | $5.3M | $6.8M | $5.2M | $4.3M | $12.8M | $6.2M | $4.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $230,933 | $476,850 |
| Lease obligations | $9.7M | $4.8M | $5.3M | $4.1M | $2.6M | $1.9M | $2.3M | $1.6M | $2.1M | $2.9M | $3.1M | $3.3M |
| Other long-term liabilities | $7.6M | $3.3M | $3.7M | $2.5M | $1.4M | $1.2M | $1.1M | $135,181 | $35,229 | $260,273 | $369,798 | $811,632 |
| Total liabilities | $26.8M | $23.0M | $17.0M | $15.2M | $7.1M | $6.4M | $7.9M | $5.3M | $4.3M | $13.1M | $6.8M | $6.1M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $9,000 | $7,000 | $7,000 | $7,000 | $6,000 | $5,682 | $5,127 | $4,283 | $3,651 | $2,462 | $2,450 | $2,436 |
| Retained earnings (deficit) | −$322.0M | −$257.9M | −$208.9M | −$174.6M | −$141.6M | −$120.7M | −$107.5M | −$94.4M | −$86.4M | −$77.4M | −$68.3M | −$61.3M |
| Accumulated other comprehensive income | −$32,000 | −$61,000 | $138,000 | $65,000 | $297,999 | — | — | $0 | $0 | — | — | — |
| Total shareholders' equity | $351.8M | $317.8M | $350.7M | $283.9M | $207.2M | $210.2M | $131.7M | $56.2M | $28.5M | −$8.8M | −$4.0M | $2.4M |
| Key figures | ||||||||||||
| Total debt | $9.7M | $4.8M | $5.3M | $4.1M | $2.6M | $1.9M | $2.3M | $1.6M | $2.8M | $8.5M | $4.4M | $4.9M |
| Net cash (debt) | $225.7M | $182.7M | $228.2M | $206.3M | $180.8M | $195.9M | $120.9M | $49.3M | $26.0M | −$8.0M | −$4.4M | −$1.4M |
| Working capital | $228.0M | $181.4M | $227.8M | $206.9M | $180.8M | $194.7M | $118.4M | $49.7M | $26.6M | −$9.8M | −$4.8M | $268,494 |
| Tangible book value | $289.3M | $253.3M | $303.9M | $239.1M | $201.2M | $210.2M | $131.7M | $56.2M | $28.5M | −$8.8M | −$4.0M | $2.4M |
| Book value per share | $4.38 | $4.18 | $4.75 | $4.85 | $3.60 | $5.73 | $3.59 | $1.38 | $0.84 | −$0.36 | −$0.11 | $0.06 |
| Shares outstanding | 80.3M | 76.0M | 73.8M | 58.5M | 57.5M | 36.7M | 36.7M | 40.6M | 33.8M | 24.6M | 36.9M | 36.9M |
| Current ratio | 12.83 | 10.19 | 18.13 | 17.21 | 32.79 | 38.03 | 18.40 | 10.65 | 7.24 | 0.24 | 0.23 | 1.06 |
| Quick ratio | 12.50 | 9.78 | 17.67 | 16.61 | 32.34 | 37.82 | 18.15 | 9.88 | 6.77 | 0.05 | 0.00 | 0.72 |
| Debt / equity | 0.03 | 0.02 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.03 | 0.10 | — | — | 2.06 |
| Equity / assets | 92.9% | 93.2% | 95.4% | 94.9% | 96.7% | 97.0% | 94.3% | 91.4% | 86.9% | −207.3% | −143.8% | 27.8% |
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.
SERV financial position
At the end of fiscal 2025 (December 31, 2025), Serve Robotics had total assets of $367.8 million (up 163.4% from a year earlier), total liabilities of $17.0 million and shareholders' equity of $350.7 million. It held $233.4 million in cash and short-term investments against $5.3 million of debt, a net cash position of $228.2 million. Its current ratio was 18.13. In the latest quarter (ended June 30, 2026) total assets were $378.6 million and equity $351.8 million.
Related: SERV income statement, SERV cash flow statement, SERV key metrics. See the SERV stock overview for the latest quote and news.
SERV balance sheet FAQ
What are Serve Robotics's total assets?
Serve Robotics reported total assets of $367.8 million at the end of fiscal 2025 (December 31, 2025), compared with $139.6 million a year earlier.
How much debt does Serve Robotics have?
Serve Robotics had $5.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Serve Robotics have?
Serve Robotics held $233.4 million in cash and short-term investments at the end of fiscal 2025; with $5.3 million of debt that is net cash of $228.2 million.
What is Serve Robotics's book value?
Serve Robotics's shareholders' equity (book value) was $350.7 million at the end of fiscal 2025, or $5.63 per share.
What is Serve Robotics's current ratio?
Serve Robotics had current assets of $241.1 million and current liabilities of $13.3 million, a current ratio of 18.13 (it can cover its short-term obligations).
How much goodwill does Serve Robotics have?
Serve Robotics carried $46.8 million of goodwill and intangible assets, 12.7% of total assets, at the end of fiscal 2025.