Sanofi (SNY) Balance Sheet

NASDAQ: SNYAssets, liabilities, debt and equity over 10 years.

SNY balance sheet, 2025

December 31, 2025 · euros

€126.81B assets = €55.09B liabilities + €71.71B equity

What it owns€126.81BCash & ST investments: €8.47B (6.7%)€8.47BReceivables: €11.05B (8.7%)Receivables €11.05BInventory: €10.21B (8.1%)Inventory €10.21BOther current: €1.23B (1.0%)PP&E: €11.51B (9.1%)PP&E €11.51BGoodwill & intangibles: €67.56B (53.3%)Goodwill & intangibles€67.56B · 53%LT investments: €6.61B (5.2%)Other non-current: €10.17B (8.0%)Other non-current €10.17B=How it is financed€126.81BCurrent liabilities: €28.34B (22.4%)Current liabilities€28.34B · 22%Long-term debt: €14.25B (11.2%)Long-term debt €14.25BOther LT liabilities: €12.50B (9.9%)€12.50BShareholders’ equity: €71.71B (56.6%)Shareholders’ equity€71.71B · 57%

Both columns are drawn to the same scale: what SNY owns equals what it owes plus shareholders’ equity. Hover a block for its value.

SNY financial health

Current ratio1.09
Adequate · current assets cover current liabilities 1.09×
Debt / equity0.28
Low leverage · €0.28 of debt for each $1 of equity
Equity / assets56.3%
Equity-funded · of assets funded by shareholders
Cash / debt41.6%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles53.3%
Mostly intangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

SNY balance sheet trends, 2016–2025

MetricTrendThenLatestChange
Total assets€104.67B2016€126.81B2025+2.2%/yr
Total liabilities€46.95B2016€55.09B2025+1.8%/yr
Shareholders’ equity€57.55B2016€71.38B2025+2.4%/yr
Cash & short-term investments€10.38B2016€8.47B2025−2.2%/yr
Total debt€18.58B2016€20.33B2025+1.0%/yr
Net cash (debt)−€8.20B2016−€11.86B2025−€3.7B
Working capital€10.25B2016€2.61B2025−€7.6B
Current ratio1.6220161.092025−0.53
Debt / equity0.3220160.282025−0.04
Shares outstanding2.57B20162.44B2025−0.6%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

SNY assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

SNY liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

SNY debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

SNY balance sheet in euros

2025202420232022202120202019201820172016
Assets
Cash & short-term investments€8.47B€7.93B€8.71B€12.74B€10.10B€13.91B€9.85B€7.12B€10.31B€10.38B
Cash & equivalents€7.66B€7.44B€8.71B€12.74B€10.10B€13.91B€9.43B€6.92B€10.31B€10.27B
Short-term investments€810.0M€486.0M€270.0M€664.0M€1.05B€1.05B€426.0M€199.0M€77.0M€108.0M
Receivables€11.05B€10.63B€11.04B€10.75B€9.79B€9.95B€10.08B€9.35B€8.68B€9.05B
Inventory€10.21B€9.43B€9.67B€8.96B€8.71B€8.35B€7.99B€7.48B€6.82B€6.89B
Other current assets€1.23B€14.60B€1.24B€1.58B€1.96B€1.48B€1.01B€701.0M€546.0M€364.0M
Total current assets€30.95B€42.59B€30.66B€34.03B€30.56B€33.70B€28.94B€24.65B€26.35B€26.69B
Property, plant & equipment (net)€11.51B€11.60B€11.81B€11.68B€11.98B€10.56B€11.02B€9.65B€9.58B€10.02B
Goodwill & intangible assets€67.56B€66.01B€73.72B€71.53B€69.46B€62.70B€61.03B€66.12B€53.34B€51.17B
Long-term investments€6.61B€3.26B€2.67B€9.15B€7.97B€7.15B€5.27B€5.53B€5.38B€4.80B
Other non-current assets€10.17B€9.34B€7.61B€327.0M€264.0M€295.0M€6.38B€5.46B€5.16B€12.00B
Total assets€126.81B€132.80B€126.46B€126.72B€120.24B€114.41B€112.63B€111.41B€99.81B€104.67B
Liabilities
Accounts payable€7.36B€7.55B€7.33B€6.81B€6.18B€5.29B€5.31B€5.04B€4.63B€4.30B
Short-term debt€4.61B€4.47B€2.60B€4.45B€3.45B€3.00B€4.82B€2.63B€1.27B€1.76B
Deferred revenue——€597.0M€264.0M€319.0M€252.0M€3.80B€4.21B€4.06B€4.23B
Total current liabilities€28.34B€29.16B€24.19B€23.96B€21.30B€19.25B€20.39B€17.38B€15.46B€16.43B
Long-term debt€14.25B€11.79B€14.35B€14.86B€17.12B€19.75B€21.17B€22.07B€0€16.77B
Lease obligations€1.74B€1.91B€2.03B€2.18B€2.11B€1.16B€1.25B€0€0€0
Other long-term liabilities€12.50B€13.99B€13.57B€12.75B€12.79B€12.17B€11.85B€12.93B€26.11B€13.75B
Total liabilities€55.09B€54.94B€52.11B€51.57B€51.21B€51.16B€53.40B€52.37B€41.57B€46.95B
Shareholders' equity
Common stock & paid-in capital€2.44B€2.53B€2.53B€2.52B€2.53B€2.52B€2.51B€2.50B€2.51B€2.58B
Retained earnings (deficit)——€67.50B€66.73B€63.01B€60.15B€51.78B€53.11B€52.86B€51.48B
Treasury stock——————−€9.0M−€153.0M−€1000000.00T−€1.50B
Accumulated other comprehensive income€64.44B€70.56B€4.88B€6.11B€3.55B€782.0M€52.55B€52.92B€2.71B€5.00B
Minority interest€334.0M€350.0M€313.0M€368.0M——€0€0€0€0
Total shareholders' equity€71.38B€77.51B€74.04B€74.78B€68.68B€63.11B€59.23B€59.03B€58.07B€57.55B
Key figures
Total debt€20.33B€17.91B€18.70B€21.21B€22.41B€23.68B€25.98B€24.70B€15.60B€18.58B
Net cash (debt)−€11.86B−€9.98B−€9.99B−€8.48B−€12.32B−€9.76B−€16.13B−€17.58B−€5.29B−€8.20B
Working capital€2.61B€13.43B€6.46B€10.06B€9.27B€14.46B€8.55B€7.27B€10.89B€10.25B
Tangible book value€3.81B€11.49B€317.0M€3.25B−€782.0M€401.0M−€1.80B−€7.09B€4.73B€6.39B
Shares outstanding2.44B2.50B2.51B2.50B2.50B2.51B1.26B2.51B2.51B2.57B
Current ratio1.091.461.271.421.441.751.421.421.701.62
Quick ratio0.690.640.820.980.931.240.980.951.231.18
Debt / equity0.280.230.250.280.330.380.440.420.270.32
Equity / assets56.3%58.4%58.5%59.0%57.1%55.2%52.6%53.0%58.2%55.0%

Quarterly columns are labeled by the month the quarter ended. Figures in euros as reported (latest annual report filed February 17, 2026); data from EODHD.

SNY financial position

At the end of fiscal 2025 (December 31, 2025), Sanofi had total assets of €126.8 billion (down 4.5% from a year earlier), total liabilities of €55.1 billion and shareholders' equity of €71.4 billion. It held €8.5 billion in cash and short-term investments against €20.3 billion of debt, net debt of €11.9 billion. Its current ratio was 1.09. In the latest quarter (ended June 30, 2026) total assets were €129.1 billion and equity €69.2 billion.

Related: SNY income statement, SNY cash flow statement, SNY key metrics. See the SNY stock overview for the latest quote and news.

SNY balance sheet FAQ

What are Sanofi's total assets?

Sanofi reported total assets of €126.8 billion at the end of fiscal 2025 (December 31, 2025), compared with €132.8 billion a year earlier.

How much debt does Sanofi have?

Sanofi had €20.3 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.28.

How much cash does Sanofi have?

Sanofi held €8.5 billion in cash and short-term investments at the end of fiscal 2025; with €20.3 billion of debt that is net debt of €11.9 billion.

What is Sanofi's book value?

Sanofi's shareholders' equity (book value) was €71.4 billion at the end of fiscal 2025.

What is Sanofi's current ratio?

Sanofi had current assets of €31.0 billion and current liabilities of €28.3 billion, a current ratio of 1.09 (it can cover its short-term obligations).

How much goodwill does Sanofi have?

Sanofi carried €67.6 billion of goodwill and intangible assets, 53.3% of total assets, at the end of fiscal 2025.

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