NuScale Power Corporation (SMR) Balance Sheet
SMR balance sheet, 2025
December 31, 2025 · U.S. dollars$1.41B assets = $299.0M liabilities + $1.11B equity
Both columns are drawn to the same scale: what SMR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
SMR financial health
Descriptive bands, not a rating. Fiscal 2025.
SMR balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $75.7M2019 | $1.41B2025 | +62.9%/yr | |
| Total liabilities | $39.0M2019 | $299.0M2025 | +40.4%/yr | |
| Shareholders’ equity | $36.7M2019 | $1.17B2025 | +78.1%/yr | |
| Cash & short-term investments | $17.1M2019 | $1.25B2025 | +104.5%/yr | |
| Total debt | $16.8M2019 | $02025 | −100.0% | |
| Net cash (debt) | $303,0002019 | $1.25B2025 | +$1.3B | |
| Working capital | $6.6M2019 | $976.5M2025 | +$969.9M | |
| Book value per share | $6.632024 | $7.142025 | +7.6%/yr | |
| Current ratio | 1.192019 | 4.302025 | +3.11 | |
| Debt / equity | 0.462019 | 0.002025 | −0.46 | |
| Shares outstanding | 93.2M2024 | 163.7M2025 | +75.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
SMR assets
SMR liabilities and equity
SMR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
SMR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $1.25B | $441.6M | $120.3M | $267.7M | $77.1M | $4.9M | $17.1M |
| Cash & equivalents | $836.4M | $401.6M | $120.3M | $217.7M | $77.1M | $4.9M | $17.1M |
| Short-term investments | $417.8M | $40.0M | $0 | $50.0M | $0 | — | — |
| Receivables | $6.3M | $21.1M | $10.1M | $11.2M | $4.8M | $2.8M | $20.8M |
| Inventory | $0 | $0 | $1 | $0 | $4.0M | $3.7M | $0 |
| Other current assets | $12.1M | $8.5M | $24.2M | $5.5M | $101,192 | $237,088 | $3.3M |
| Total current assets | $1.27B | $471.1M | $154.5M | $284.4M | $86.1M | $11.6M | $41.3M |
| Property, plant & equipment (net) | $1.9M | $2.4M | $6.7M | $8.6M | $6.2M | $7.7M | $6.3M |
| Goodwill & intangible assets | $8.8M | $25.9M | $26.0M | $9.3M | $9.5M | $9.7M | $9.8M |
| Long-term investments | $33.0M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $96.3M | $45.3M | $37.6M | $46.3M | $19.4M | $18.0M | $18.2M |
| Total assets | $1.41B | $544.7M | $224.9M | $348.6M | $121.2M | $47.1M | $75.7M |
| Liabilities | |||||||
| Accounts payable | $286.5M | $47.9M | $40.8M | $20.3M | $18.5M | $14.6M | $8.9M |
| Short-term debt | $0 | $0 | $1.5M | $1.6M | $15.2M | $35.5M | $14.6M |
| Deferred revenue | $613,000 | $762,000 | $898,000 | $856,000 | — | — | — |
| Total current liabilities | $296.1M | $89.7M | $87.5M | $38.6M | $48.4M | $70.5M | $34.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | — | $1.5M | $1.6M | $1.4M | $1.6M | $1.4M |
| Other long-term liabilities | $2.9M | $1.8M | $8.1M | $33.0M | $6.5M | $5.7M | $4.4M |
| Total liabilities | $299.0M | $91.6M | $95.5M | $71.5M | $54.9M | $76.2M | $39.0M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $34,000 | $27,000 | $23,000 | $23,000 | $28.2M | $20.9M | $17.2M |
| Retained earnings (deficit) | −$732.9M | −$377.1M | −$240.5M | −$182.1M | −$781.6M | −$679.1M | −$590.7M |
| Accumulated other comprehensive income | — | — | $0 | $0 | −$856.1M | −$679.1M | −$1.22B |
| Minority interest | −$55.3M | −$165.6M | $35.9M | $162.4M | — | — | — |
| Total shareholders' equity | $1.17B | $618.7M | $93.5M | $114.7M | $66.3M | −$29.1M | $36.7M |
| Key figures | |||||||
| Total debt | $0 | $0 | $2.9M | $4.4M | $15.4M | $36.9M | $16.8M |
| Net cash (debt) | $1.25B | $441.6M | $117.3M | $263.3M | $61.7M | −$32.0M | $303,000 |
| Working capital | $976.5M | $381.4M | $67.1M | $245.9M | $37.7M | −$58.9M | $6.6M |
| Tangible book value | $1.16B | $592.8M | $67.4M | $105.4M | $56.8M | −$38.8M | $26.8M |
| Book value per share | $7.14 | $6.63 | — | — | — | — | — |
| Shares outstanding | 163.7M | 93.2M | — | — | — | — | — |
| Current ratio | 4.30 | 5.25 | 1.77 | 7.38 | 1.78 | 0.16 | 1.19 |
| Quick ratio | 4.26 | 5.16 | 1.49 | 7.23 | 1.69 | 0.11 | 1.10 |
| Debt / equity | 0.00 | 0.00 | 0.03 | 0.04 | 0.23 | — | 0.46 |
| Equity / assets | 82.7% | 113.6% | 41.6% | 32.9% | 54.7% | −61.9% | 48.4% |
| 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 | $1.07B | $890.1M | $1.25B | $691.8M | $420.7M | $521.4M | $441.6M | $156.6M | $130.9M | $132.0M | $120.3M | $117.5M |
| Cash & equivalents | $766.5M | $341.1M | $836.4M | $407.6M | $297.7M | $491.4M | $401.6M | $111.6M | $130.9M | $132.0M | $120.3M | $117.5M |
| Short-term investments | $305.7M | $549.0M | $417.8M | $284.2M | $123.1M | $30.0M | $40.0M | $45.0M | — | — | $0 | $0 |
| Receivables | $13.2M | $6.4M | $6.3M | $15.2M | $12.8M | $13.3M | $21.1M | $7.9M | $8.4M | $5.1M | $10.1M | $20.2M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $1 |
| Other current assets | $15.8M | $11.9M | $12.1M | $12.8M | $9.0M | $8.7M | $8.5M | $16.0M | $17.0M | $19.7M | $24.2M | $21.5M |
| Total current assets | $1.10B | $908.5M | $1.27B | $719.8M | $442.6M | $543.4M | $471.1M | $180.6M | $156.3M | $156.8M | $154.5M | $159.2M |
| Property, plant & equipment (net) | $3.3M | $3.2M | $1.9M | $2.1M | $1.8M | $2.3M | $2.4M | $2.8M | $3.1M | $3.6M | $4.1M | $4.6M |
| Goodwill & intangible assets | $8.7M | $8.7M | $8.8M | $8.8M | $8.9M | $25.8M | $25.9M | $25.9M | $25.9M | $26.0M | $26.0M | $26.1M |
| Long-term investments | $820.8M | $118.6M | $33.0M | $62.0M | $69.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $115.2M | $109.3M | $96.3M | $90.4M | $84.0M | $46.6M | $45.3M | $44.1M | $43.9M | $43.5M | $40.2M | $118.7M |
| Total assets | $2.05B | $1.15B | $1.41B | $883.1M | $606.5M | $618.1M | $544.7M | $253.3M | $229.2M | $229.8M | $224.9M | $308.5M |
| Liabilities | ||||||||||||
| Accounts payable | $19.8M | $21.6M | $286.5M | $403.4M | $64.6M | $47.6M | $47.9M | $17.9M | $19.1M | $45.9M | $44.9M | $35.9M |
| Short-term debt | $756,000 | $728,000 | $0 | $0 | $0 | $0 | $0 | $1.8M | $1.5M | $1.5M | $1.5M | $22.3M |
| Deferred revenue | $240,000 | $1.4M | $613,000 | $630,000 | $299,000 | $574,000 | $762,000 | $20.0M | $78,000 | $206,000 | $898,000 | $33.4M |
| Total current liabilities | $29.1M | $30.9M | $296.1M | $445.6M | $104.9M | $87.3M | $89.7M | $80.6M | $58.8M | $85.1M | $87.5M | $81.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $756,000 | $728,000 | — | — | — | — | — | — | — | — | $1.5M | — |
| Other long-term liabilities | $6.5M | $7.5M | $2.9M | $2.7M | $2.7M | $1.4M | $1.8M | $82.6M | $77.1M | $16.0M | $8.1M | $47.4M |
| Total liabilities | $35.5M | $38.4M | $299.0M | $448.3M | $107.6M | $88.6M | $91.6M | $163.2M | $135.9M | $101.1M | $95.5M | $128.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $43,000 | $34,000 | $34,000 | $30,000 | $28,000 | $28,000 | $27,000 | $25,000 | $24,000 | $24,000 | $23,000 | $23,000 |
| Retained earnings (deficit) | −$824.4M | −$776.9M | −$732.9M | −$682.0M | −$408.7M | −$391.1M | −$377.1M | −$302.1M | −$284.6M | −$257.0M | −$240.5M | −$221.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | $0 | — |
| Minority interest | −$47.7M | −$57.0M | −$55.3M | −$393.9M | −$194.0M | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.06B | $1.17B | $1.17B | $828.7M | $692.9M | $704.0M | $618.7M | $160.1M | $136.3M | $125.1M | $93.5M | $105.9M |
| Key figures | ||||||||||||
| Total debt | $5.9M | $728,000 | $0 | $0 | $0 | $0 | $0 | $1.8M | $2.2M | $2.6M | $1.5M | $1.8M |
| Net cash (debt) | $1.07B | $889.4M | $1.25B | $691.8M | $420.7M | $521.4M | $441.6M | $154.8M | $128.7M | $129.4M | $118.8M | $115.6M |
| Working capital | $1.07B | $877.5M | $976.5M | $274.2M | $337.6M | $456.2M | $381.4M | $100.0M | $97.5M | $71.7M | $67.1M | $77.7M |
| Tangible book value | $2.05B | $1.16B | $1.16B | $819.9M | $684.0M | $678.2M | $592.8M | $134.2M | $110.4M | $99.1M | $67.4M | $79.8M |
| Book value per share | $12.59 | $7.13 | $7.14 | $5.61 | $5.19 | $5.51 | $6.63 | $1.68 | $1.52 | — | — | — |
| Shares outstanding | 163.7M | 163.7M | 163.7M | 147.7M | 133.4M | 127.7M | 93.2M | 95.2M | 89.6M | — | — | — |
| Current ratio | 37.88 | 29.36 | 4.30 | 1.62 | 4.22 | 6.23 | 5.25 | 2.24 | 2.66 | 1.84 | 1.77 | 1.95 |
| Quick ratio | 37.34 | 28.98 | 4.26 | 1.59 | 4.13 | 6.13 | 5.16 | 2.04 | 2.37 | 1.61 | 1.49 | 1.69 |
| Debt / equity | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.01 | 0.02 | 0.02 | 0.02 | 0.02 |
| Equity / assets | 100.6% | 101.6% | 82.7% | 93.8% | 114.2% | 113.9% | 113.6% | 63.2% | 59.5% | 54.4% | 41.6% | 34.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
SMR financial position
At the end of fiscal 2025 (December 31, 2025), NuScale Power had total assets of $1.4 billion (up 159.3% from a year earlier), total liabilities of $299.0 million and shareholders' equity of $1.2 billion. It held $1.3 billion in cash and short-term investments against $0 of debt, a net cash position of $1.3 billion. Its current ratio was 4.30. In the latest quarter (ended June 30, 2026) total assets were $2.0 billion and equity $2.1 billion.
Related: SMR income statement, SMR cash flow statement, SMR key metrics. See the SMR stock overview for the latest quote and news.
SMR balance sheet FAQ
What are NuScale Power's total assets?
NuScale Power reported total assets of $1.4 billion at the end of fiscal 2025 (December 31, 2025), compared with $544.7 million a year earlier.
How much debt does NuScale Power have?
NuScale Power had $0 of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.00.
How much cash does NuScale Power have?
NuScale Power held $1.3 billion in cash and short-term investments at the end of fiscal 2025; with $0 of debt that is net cash of $1.3 billion.
What is NuScale Power's book value?
NuScale Power's shareholders' equity (book value) was $1.2 billion at the end of fiscal 2025, or $7.14 per share.
What is NuScale Power's current ratio?
NuScale Power had current assets of $1.3 billion and current liabilities of $296.1 million, a current ratio of 4.30 (it can cover its short-term obligations).
How much goodwill does NuScale Power have?
NuScale Power carried $8.8 million of goodwill and intangible assets, 0.6% of total assets, at the end of fiscal 2025.