The Oncology Institute, Inc. (STLN) Balance Sheet
STLN balance sheet, 2025
December 31, 2025 · U.S. dollars$164.7M assets = $180.4M liabilities + −$15.7M equity
Liabilities exceed assets: shareholders’ equity is negative (−$15.7M).
Both columns are drawn to the same scale: what STLN owns equals what it owes plus shareholders’ equity. Hover a block for its value.
STLN financial health
Descriptive bands, not a rating. Fiscal 2025.
STLN balance sheet trends, 2022–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $261.7M2022 | $164.7M2025 | −14.3%/yr | |
| Total liabilities | $138.5M2022 | $180.4M2025 | +9.2%/yr | |
| Shareholders’ equity | $123.2M2022 | −$15.7M2025 | — | |
| Cash & short-term investments | $73.8M2022 | $33.6M2025 | −23.1%/yr | |
| Total debt | $80.6M2022 | $103.7M2025 | +8.7%/yr | |
| Net cash (debt) | −$6.8M2022 | −$70.1M2025 | −$63.3M | |
| Working capital | $100.7M2022 | $41.8M2025 | −$58.9M | |
| Book value per share | $1.682022 | −$0.172025 | — | |
| Current ratio | 4.392022 | 1.592025 | −2.80 | |
| Debt / equity | 0.652022 | 25.952024 | +25.29 | |
| Shares outstanding | 73.3M2022 | 92.4M2025 | +8.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
STLN assets
STLN liabilities and equity
STLN debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
STLN balance sheet
| 2025 | 2024 | 2023 | 2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $33.6M | $49.7M | $82.9M | $73.8M |
| Cash & equivalents | $33.6M | $49.7M | $33.5M | $14.0M |
| Short-term investments | — | $0 | $49.4M | $59.8M |
| Receivables | $59.3M | $48.3M | $42.4M | $39.8M |
| Inventory | $16.9M | $10.0M | $13.7M | $9.3M |
| Other current assets | $3.0M | $4.4M | $4.6M | $7.5M |
| Total current assets | $112.7M | $112.4M | $143.5M | $130.4M |
| Property, plant & equipment (net) | $33.1M | $37.7M | $40.1M | $33.0M |
| Goodwill & intangible assets | $18.2M | $22.0M | $25.1M | $39.4M |
| Long-term investments | $0 | $0 | $0 | $58.4M |
| Other non-current assets | $606,000 | $589,000 | $561,000 | $477,000 |
| Total assets | $164.7M | $172.7M | $209.2M | $261.7M |
| Liabilities | ||||
| Accounts payable | $43.2M | $24.3M | $14.4M | $9.4M |
| Short-term debt | $7.2M | — | — | — |
| Deferred revenue | $2.3M | — | — | — |
| Total current liabilities | $71.0M | $52.2M | $34.8M | $29.7M |
| Long-term debt | $77.4M | $93.1M | $86.8M | $80.6M |
| Lease obligations | $26.3M | $30.0M | $32.8M | $27.6M |
| Other long-term liabilities | $32.0M | $23.8M | $30.6M | $28.1M |
| Total liabilities | $180.4M | $169.1M | $152.2M | $138.5M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $10,000 | — | — | — |
| Retained earnings (deficit) | −$271.4M | −$210.8M | −$146.2M | −$63.1M |
| Total shareholders' equity | −$15.7M | $3.6M | $57.0M | $123.2M |
| Key figures | ||||
| Total debt | $103.7M | $93.1M | $86.8M | $80.6M |
| Net cash (debt) | −$70.1M | −$43.5M | −$4.0M | −$6.8M |
| Working capital | $41.8M | $60.2M | $108.7M | $100.7M |
| Tangible book value | −$34.0M | −$18.5M | $31.9M | $83.8M |
| Book value per share | −$0.17 | $0.05 | $0.77 | $1.68 |
| Shares outstanding | 92.4M | 75.7M | 74.1M | 73.3M |
| Current ratio | 1.59 | 2.15 | 4.12 | 4.39 |
| Quick ratio | 1.31 | 1.88 | 3.60 | 3.82 |
| Debt / equity | — | 25.95 | 1.52 | 0.65 |
| Equity / assets | −9.5% | 2.1% | 27.3% | 47.1% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $41.1M | $30.3M | $33.6M | $27.7M | $30.3M | $39.7M |
| Cash & equivalents | $41.1M | $30.3M | $33.6M | $27.7M | $30.3M | $39.7M |
| Receivables | $66.7M | $59.5M | $59.3M | $60.0M | $55.7M | $49.3M |
| Inventory | $20.0M | $24.3M | $16.9M | $18.9M | $15.8M | $12.3M |
| Other current assets | $1.2M | $2.8M | $3.0M | $3.6M | $3.1M | $5.5M |
| Total current assets | $129.0M | $116.9M | $112.7M | $110.1M | $104.8M | $106.8M |
| Property, plant & equipment (net) | $31.8M | $33.2M | $33.1M | $34.0M | $34.7M | $35.3M |
| Goodwill & intangible assets | $16.8M | $17.5M | $18.2M | $19.0M | $19.7M | $21.3M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $657,000 | $620,000 | $606,000 | $586,000 | $586,000 | $591,000 |
| Total assets | $178.2M | $168.2M | $164.7M | $163.6M | $159.8M | $164.0M |
| Liabilities | ||||||
| Accounts payable | $60.3M | $47.6M | $43.2M | $35.6M | $34.9M | $29.3M |
| Short-term debt | $7.2M | $7.4M | $7.2M | $7.2M | — | — |
| Deferred revenue | $2.2M | $2.0M | $2.3M | $4.9M | — | — |
| Total current liabilities | $94.9M | $79.4M | $71.0M | $65.6M | $64.8M | $59.5M |
| Long-term debt | $79.9M | $78.6M | $77.4M | $76.2M | $75.0M | $73.9M |
| Lease obligations | $24.6M | $26.2M | $26.3M | $27.4M | $28.1M | $28.4M |
| Other long-term liabilities | $28.3M | $26.6M | $32.0M | $34.1M | $29.0M | $25.5M |
| Total liabilities | $203.1M | $184.5M | $180.4M | $175.9M | $168.8M | $158.9M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $10,000 | $10,000 | $10,000 | $10,000 | — | — |
| Retained earnings (deficit) | −$283.7M | −$273.9M | −$271.4M | −$263.9M | −$247.4M | −$230.4M |
| Total shareholders' equity | −$24.9M | −$16.3M | −$15.7M | −$12.3M | −$9.0M | $5.1M |
| Key figures | ||||||
| Total debt | $104.5M | $104.9M | $103.7M | $103.6M | $75.0M | $73.9M |
| Net cash (debt) | −$63.4M | −$74.6M | −$70.1M | −$75.9M | −$44.7M | −$34.2M |
| Working capital | $34.1M | $37.5M | $41.8M | $44.5M | $40.0M | $47.3M |
| Tangible book value | −$41.7M | −$33.8M | −$34.0M | −$31.2M | −$28.7M | −$16.2M |
| Book value per share | −$0.24 | −$0.16 | −$0.15 | −$0.13 | −$0.10 | $0.06 |
| Shares outstanding | 103.0M | 101.8M | 101.5M | 97.5M | 93.3M | 88.9M |
| Current ratio | 1.36 | 1.47 | 1.59 | 1.68 | 1.62 | 1.79 |
| Quick ratio | 1.14 | 1.13 | 1.31 | 1.34 | 1.33 | 1.50 |
| Debt / equity | — | — | — | — | — | 14.58 |
| Equity / assets | −14.0% | −9.7% | −9.5% | −7.5% | −5.6% | 3.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
STLN financial position
At the end of fiscal 2025 (December 31, 2025), Oncology Institute had total assets of $164.7 million (down 4.7% from a year earlier), total liabilities of $180.4 million and shareholders' equity of -$15.7 million. It held $33.6 million in cash and short-term investments against $103.7 million of debt, net debt of $70.1 million. Its current ratio was 1.59. In the latest quarter (ended June 30, 2026) total assets were $178.2 million and equity -$24.9 million.
Related: STLN income statement, STLN cash flow statement, STLN key metrics. See the STLN stock overview for the latest quote and news.
STLN balance sheet FAQ
What are Oncology Institute's total assets?
Oncology Institute reported total assets of $164.7 million at the end of fiscal 2025 (December 31, 2025), compared with $172.7 million a year earlier.
How much debt does Oncology Institute have?
Oncology Institute had $103.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does Oncology Institute have?
Oncology Institute held $33.6 million in cash and short-term investments at the end of fiscal 2025; with $103.7 million of debt that is net debt of $70.1 million.
What is Oncology Institute's book value?
Oncology Institute's shareholders' equity (book value) was -$15.7 million at the end of fiscal 2025, or −$0.17 per share.
What is Oncology Institute's current ratio?
Oncology Institute had current assets of $112.7 million and current liabilities of $71.0 million, a current ratio of 1.59 (it can cover its short-term obligations).
How much goodwill does Oncology Institute have?
Oncology Institute carried $18.2 million of goodwill and intangible assets, 11.1% of total assets, at the end of fiscal 2025.