Summit Therapeutics Inc. (SMMT) Balance Sheet
SMMT balance sheet, 2025
December 31, 2025 · British pounds£557.5M assets = £68.5M liabilities + £489.0M equity
Both columns are drawn to the same scale: what SMMT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SMMT financial health
Descriptive bands, not a rating. Fiscal 2025.
SMMT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | £47.0M2016 | £557.5M2025 | +31.6%/yr | |
| Total liabilities | £51.3M2016 | £68.5M2025 | +3.3%/yr | |
| Shareholders’ equity | −£4.4M2016 | £489.0M2025 | — | |
| Cash & short-term investments | £35.1M2016 | £529.5M2025 | +35.2%/yr | |
| Total debt | £5.1M2016 | £15.5M2025 | +13.2%/yr | |
| Net cash (debt) | £30.0M2016 | £514.0M2025 | +£484.0M | |
| Working capital | £28.1M2016 | £480.4M2025 | +£452.4M | |
| Current ratio | 3.062016 | 9.872025 | +6.81 | |
| Debt / equity | 1.292017 | 0.032025 | −1.26 | |
| Shares outstanding | 61.5M2016 | 747.7M2025 | +32.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SMMT assets
SMMT liabilities and equity
SMMT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SMMT balance sheet in British pounds
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | £529.5M | £329.5M | £147.4M | £284.2M | £53.2M | £48.8M | £50.0M | £35.2M | £28.5M | £35.1M |
| Cash & equivalents | £167.2M | £83.8M | £56.5M | £284.2M | £53.2M | £48.8M | £50.0M | £35.2M | £28.5M | £35.1M |
| Short-term investments | £362.3M | £245.7M | £90.9M | £0 | — | — | — | £0 | £0 | £0 |
| Receivables | £0 | £445,093 | £671,068 | £5.0M | £12.7M | £7.5M | £318,119 | £12.5M | £13.1M | £4.7M |
| Inventory | £0 | £0 | £2.4M | £7.2M | £7.2M | −£11.7M | £2 | £0 | £0 | £110,557 |
| Other current assets | £5.1M | £8.7M | £0 | £239.0M | £0 | £19.8M | £11.8M | £13.5M | £9.2M | £1.7M |
| Total current assets | £534.6M | £338.6M | £150.1M | £535.3M | £72.1M | £64.4M | £62.1M | £61.2M | £50.8M | £41.7M |
| Property, plant & equipment (net) | £16.1M | £5.9M | £4.8M | £4.1M | £2.6M | £939,435 | £1.2M | £2.0M | £1.1M | £144,994 |
| Goodwill & intangible assets | £1.5M | £1.5M | £1.5M | £11.9M | £9.2M | £9.9M | £8.9M | £16.3M | £24.4M | £5.2M |
| Long-term investments | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 |
| Other non-current assets | £5.3M | £2.0M | £4.2M | £0 | £126,018 | £1 | £3.3M | £1 | £1 | £2 |
| Total assets | £557.5M | £348.1M | £160.6M | £541.4M | £84.0M | £75.3M | £75.5M | £79.5M | £76.4M | £47.0M |
| Liabilities | ||||||||||
| Accounts payable | £15.1M | £3.7M | £2.1M | £289,394 | £3.2M | £4.5M | £3.4M | £5.8M | £12.6M | £5.0M |
| Short-term debt | £2.5M | £3.0M | £2.2M | £17.5M | £808,732 | £286,457 | −£649,447 | £0 | £18.0M | £5.1M |
| Deferred revenue | — | — | £14.2M | £7.9M | £5.9M | £6.1M | £1.2M | £4.4M | −£18.0M | £8.6M |
| Total current liabilities | £54.2M | £33.3M | £16.1M | £31.6M | £19.0M | £14.6M | £9.9M | £17.2M | £26.8M | £13.6M |
| Long-term debt | £0 | £0 | £100.0M | £494.5M | £0 | £0 | £0 | £0 | £0 | £0 |
| Lease obligations | £20.9M | £7.2M | £6.1M | £4.5M | £2.8M | £465,000 | — | £0 | £0 | £0 |
| Other long-term liabilities | £14.3M | £4.1M | £0 | £0 | £3.3M | £2.3M | £4.4M | £6.6M | £35.6M | £37.7M |
| Total liabilities | £68.5M | £37.4M | £99.1M | £438.2M | £22.3M | £16.9M | £14.3M | £23.7M | £62.4M | £51.3M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | £5.8M | £5.9M | £5.6M | £1.7M | £726,450 | £606,703 | £507,286 | £2.1M | £1.0M | £772,471 |
| Retained earnings (deficit) | −£1.70B | −£970.6M | −£786.0M | −£308.4M | −£222.0M | −£154.9M | −£119.5M | −£99.8M | −£114.5M | −£92.2M |
| Treasury stock | — | — | — | — | — | — | — | £0 | £0 | £0 |
| Accumulated other comprehensive income | −£1.9M | −£1.8M | −£1.9M | −£1.5M | −£1.6M | −£2.8M | −£3.6M | £30.3M | £32.6M | £25.7M |
| Minority interest | — | — | — | — | — | — | — | £0 | £0 | £0 |
| Total shareholders' equity | £489.0M | £310.6M | £61.5M | £103.2M | £61.7M | £58.4M | £61.1M | £55.8M | £14.0M | −£4.4M |
| Key figures | ||||||||||
| Total debt | £15.5M | £5.8M | £84.0M | £422.9M | £2.1M | £341,545 | £699,638 | £0 | £18.0M | £5.1M |
| Net cash (debt) | £514.0M | £323.7M | £63.4M | −£138.7M | £51.2M | £48.4M | £49.3M | £35.2M | £10.4M | £30.0M |
| Working capital | £480.4M | £305.3M | £134.0M | £503.7M | £53.1M | £49.8M | £52.2M | £44.0M | £24.0M | £28.1M |
| Tangible book value | £487.5M | £309.2M | £60.0M | £91.4M | £52.5M | £48.4M | £52.2M | £39.5M | −£10.5M | −£9.5M |
| Shares outstanding | 747.7M | 718.5M | 619.6M | 193.3M | 92.2M | 69.5M | 32.8M | 86.1M | 65.4M | 61.5M |
| Current ratio | 9.87 | 10.15 | 9.30 | 16.93 | 3.80 | 4.41 | 6.27 | 3.56 | 1.89 | 3.06 |
| Quick ratio | 9.77 | 9.89 | 9.17 | 9.15 | 3.47 | 3.85 | 5.08 | 2.78 | 1.55 | 2.92 |
| Debt / equity | 0.03 | 0.02 | 1.37 | 4.10 | 0.03 | 0.01 | 0.01 | 0.00 | 1.29 | — |
| Equity / assets | 87.7% | 89.3% | 38.3% | 19.1% | 73.5% | 77.5% | 81.0% | 70.2% | 18.3% | −9.3% |
| Mar '26 | Dec '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | £454.1M | £529.5M | £177.3M | £279.9M | £329.5M | £371.5M | £257.1M | £124.8M | £147.4M | £163.5M |
| Cash & equivalents | £80.8M | £167.2M | £177.3M | £163.8M | £83.8M | £71.5M | £22.5M | £48.8M | £56.5M | £19.6M |
| Short-term investments | £373.3M | £362.3M | £0 | £116.0M | £245.7M | £299.9M | £234.7M | £76.0M | £90.9M | £144.0M |
| Receivables | £0 | £0 | £0 | £0 | £445,093 | £503,540 | £752,879 | £752,834 | £671,068 | £667,455 |
| Inventory | £0 | £0 | £0 | £0 | £0 | £746,000 | £0 | £317,000 | £2.4M | £5.1M |
| Other current assets | £13.5M | £5.1M | £5.9M | £7.3M | £8.7M | £1.3M | £1.9M | £4.2M | £0 | £0 |
| Total current assets | £467.6M | £534.6M | £183.2M | £287.2M | £338.6M | £374.1M | £259.8M | £130.1M | £150.1M | £168.5M |
| Property, plant & equipment (net) | £16.0M | £16.1M | £4.6M | £5.4M | £5.9M | £6.3M | £7.1M | £7.6M | £4.8M | £5.5M |
| Goodwill & intangible assets | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M | £1.5M |
| Long-term investments | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £0 |
| Other non-current assets | £6.2M | £5.3M | £5.2M | £3.2M | £2.0M | £1.8M | £1.8M | £1.7M | £4.2M | £4.2M |
| Total assets | £491.3M | £557.5M | £194.6M | £297.3M | £348.1M | £383.6M | £270.1M | £140.8M | £160.6M | £179.6M |
| Liabilities | ||||||||||
| Accounts payable | £20.9M | £15.1M | £16.5M | £3.9M | £3.7M | £2.5M | £2.6M | £5.1M | £2.1M | £2.7M |
| Short-term debt | £2.4M | £2.5M | £2.0M | £2.7M | £3.0M | £21.6M | £81.9M | £2.9M | £2.2M | £84.5M |
| Deferred revenue | — | — | — | — | — | £22.3M | — | £12.6M | £14.2M | £7.2M |
| Total current liabilities | £63.1M | £54.2M | £48.3M | £27.0M | £33.3M | £45.0M | £110.7M | £18.7M | £16.1M | £93.5M |
| Long-term debt | £0 | £0 | £0 | £0 | £0 | £0 | £0 | £100.0M | £100.0M | £100.0M |
| Lease obligations | £20.0M | £20.9M | £5.6M | £6.5M | £7.2M | £8.0M | £8.7M | £9.5M | £9.5M | £6.1M |
| Other long-term liabilities | £14.1M | £14.3M | £3.4M | £3.6M | £4.1M | £4.5M | £5.2M | £0 | £0 | £0 |
| Total liabilities | £77.3M | £68.5M | £51.6M | £30.6M | £37.4M | £49.5M | £116.0M | £105.6M | £99.1M | £97.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | £5.9M | £5.8M | £5.5M | £5.7M | £5.9M | £5.6M | £5.7M | £5.6M | £5.6M | £5.7M |
| Retained earnings (deficit) | −£1.88B | −£1.70B | −£1.54B | −£989.5M | −£970.6M | −£880.0M | −£866.7M | −£825.9M | −£786.0M | −£786.4M |
| Accumulated other comprehensive income | −£2.0M | −£1.9M | −£2.0M | −£2.0M | −£1.8M | −£1.8M | −£2.0M | −£2.0M | −£1.9M | −£1.9M |
| Total shareholders' equity | £414.0M | £489.0M | £142.9M | £266.7M | £310.6M | £334.1M | £154.1M | £35.2M | £61.5M | £81.7M |
| Key figures | ||||||||||
| Total debt | £15.2M | £15.5M | £4.0M | £5.0M | £5.8M | £24.8M | £85.9M | £87.3M | £84.0M | £87.7M |
| Net cash (debt) | £438.9M | £514.0M | £173.3M | £274.9M | £323.7M | £346.7M | £171.2M | £37.6M | £63.4M | £75.9M |
| Working capital | £404.5M | £480.4M | £134.9M | £260.2M | £305.3M | £329.0M | £149.0M | £111.4M | £134.0M | £75.0M |
| Tangible book value | £412.5M | £487.5M | £141.4M | £265.2M | £309.2M | £332.6M | £152.6M | £33.7M | £60.0M | £80.2M |
| Shares outstanding | 775.5M | 766.4M | 743.4M | 738.1M | 737.5M | 726.7M | 707.9M | 701.8M | 700.6M | 697.7M |
| Current ratio | 7.41 | 9.87 | 3.80 | 10.63 | 10.15 | 8.31 | 2.35 | 6.97 | 9.30 | 1.80 |
| Quick ratio | 7.19 | 9.77 | 3.67 | 10.36 | 9.89 | 8.26 | 2.33 | 6.73 | 9.17 | 1.76 |
| Debt / equity | 0.04 | 0.03 | 0.03 | 0.02 | 0.02 | 0.07 | 0.56 | 2.48 | 1.37 | 1.07 |
| Equity / assets | 84.3% | 87.7% | 73.5% | 89.7% | 89.3% | 87.1% | 57.1% | 25.0% | 38.3% | 45.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in British pounds as reported (latest annual report filed February 23, 2026); data from EODHD.
SMMT financial position
At the end of fiscal 2025 (December 31, 2025), Summit Therapeutics had total assets of £557.5 million (up 60.2% from a year earlier), total liabilities of £68.5 million and shareholders' equity of £489.0 million. It held £529.5 million in cash and short-term investments against £15.5 million of debt, a net cash position of £514.0 million. Its current ratio was 9.87. In the latest quarter (ended March 31, 2026) total assets were £491.3 million and equity £414.0 million.
Related: SMMT income statement, SMMT cash flow statement, SMMT key metrics. See the SMMT stock overview for the latest quote and news.
SMMT balance sheet FAQ
What are Summit Therapeutics's total assets?
Summit Therapeutics reported total assets of £557.5 million at the end of fiscal 2025 (December 31, 2025), compared with £348.1 million a year earlier.
How much debt does Summit Therapeutics have?
Summit Therapeutics had £15.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.
How much cash does Summit Therapeutics have?
Summit Therapeutics held £529.5 million in cash and short-term investments at the end of fiscal 2025; with £15.5 million of debt that is net cash of £514.0 million.
What is Summit Therapeutics's book value?
Summit Therapeutics's shareholders' equity (book value) was £489.0 million at the end of fiscal 2025.
What is Summit Therapeutics's current ratio?
Summit Therapeutics had current assets of £534.6 million and current liabilities of £54.2 million, a current ratio of 9.87 (it can cover its short-term obligations).
How much goodwill does Summit Therapeutics have?
Summit Therapeutics carried £1.5 million of goodwill and intangible assets, 0.3% of total assets, at the end of fiscal 2025.