Talos Energy Inc. (TALO) Balance Sheet
TALO balance sheet, 2025
December 31, 2025 · U.S. dollars$5.55B assets = $3.38B liabilities + $2.17B equity
Both columns are drawn to the same scale: what TALO owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TALO financial health
Descriptive bands, not a rating. Fiscal 2025.
TALO balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.21B2016 | $5.55B2025 | +18.4%/yr | |
| Total liabilities | $1.21B2016 | $3.38B2025 | +12.2%/yr | |
| Shareholders’ equity | $7.0M2016 | $2.17B2025 | +89.2%/yr | |
| Cash & short-term investments | $32.2M2016 | $362.8M2025 | +30.9%/yr | |
| Total debt | $1.51B2016 | $1.24B2025 | −2.1%/yr | |
| Net cash (debt) | −$1.48B2016 | −$879.0M2025 | +$597.7M | |
| Working capital | −$35.7M2016 | $196.6M2025 | +$232.3M | |
| Book value per share | $0.132016 | $12.382025 | +66.0%/yr | |
| Current ratio | 0.812016 | 1.302025 | +0.49 | |
| Debt / equity | 216.002016 | 0.572025 | −215.43 | |
| Shares outstanding | 54.2M2016 | 175.1M2025 | +13.9%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TALO assets
TALO liabilities and equity
TALO debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TALO balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $362.8M | $108.2M | $33.6M | $44.1M | $69.9M | $34.2M | $87.0M | $139.9M | $32.2M | $32.2M |
| Cash & equivalents | $362.8M | $108.2M | $33.6M | $44.1M | $69.9M | $34.2M | $87.0M | $139.9M | $32.2M | $32.2M |
| Receivables | $323.1M | $404.3M | $277.6M | $212.0M | $219.5M | $175.1M | $130.9M | $153.7M | $89.0M | $79.8M |
| Inventory | $0 | $0 | $1 | $25.5M | $49.0M | $36.2M | $74.3M | $115.6M | $840,000 | $1.1M |
| Other current assets | $155.4M | $147.0M | $110.9M | $86.2M | $1.7M | $1.9M | $1.8M | $7.6M | $22.9M | $42.3M |
| Total current assets | $841.3M | $659.4M | $422.2M | $367.8M | $340.0M | $247.4M | $294.0M | $416.8M | $144.9M | $155.5M |
| Property, plant & equipment (net) | $31.9M | $5.28B | $4.05B | $2.67B | $2.39B | $2.56B | $2.23B | $2.05B | $1.09B | $1.04B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $112.4M | $111.3M | $146.0M | $1.7M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $4.57B | $136.3M | $196.4M | $14.3M | $32.5M | $25.2M | $62.1M | $11.9M | $3.6M | $13.7M |
| Total assets | $5.55B | $6.19B | $4.82B | $3.06B | $2.77B | $2.83B | $2.59B | $2.48B | $1.24B | $1.21B |
| Liabilities | ||||||||||
| Accounts payable | $93.0M | $117.1M | $84.2M | $128.2M | $85.8M | $104.9M | $71.4M | $51.0M | $72.7M | $69.8M |
| Short-term debt | $3.7M | $3.8M | $53.6M | $1.9M | $7.8M | $1.8M | $1.6M | $443,000 | $25.0M | $701.2M |
| Deferred revenue | — | — | — | — | $287.3M | $250.7M | $257.8M | $306.3M | $160.7M | −$408,000 |
| Total current liabilities | $644.7M | $723.1M | $578.6M | $607.1M | $600.5M | $447.5M | $370.5M | $380.4M | $323.5M | $191.2M |
| Long-term debt | $1.23B | $1.22B | $992.6M | $585.3M | $956.7M | $985.5M | $795.0M | $734.4M | $766.2M | $807.8M |
| Lease obligations | $15.6M | $19.3M | $20.9M | $16.8M | $18.0M | $20.3M | $18.8M | — | — | — |
| Other long-term liabilities | $1.51B | $1.49B | $1.09B | $700.7M | $449.0M | $474.9M | $345.7M | $357.7M | $203.7M | $206.3M |
| Total liabilities | $3.38B | $3.43B | $2.66B | $1.89B | $2.01B | $1.91B | $1.51B | $1.47B | $1.29B | $1.21B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.9M | $1.9M | $1.3M | $826,000 | $819,000 | $813,000 | $542,000 | $542,000 | $312,000 | $7.0M |
| Retained earnings (deficit) | −$918.4M | −$424.1M | −$347.7M | −$535.0M | −$917.0M | −$734.0M | −$268.4M | −$327.1M | −$544.3M | $7.0M |
| Accumulated other comprehensive income | — | — | $0 | — | $0 | — | $0 | −$1.72B | −$1.43B | −$1.27B |
| Minority interest | $139,000 | $0 | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.17B | $2.76B | $2.16B | $1.17B | $760.7M | $926.6M | $1.08B | $1.01B | −$54.1M | $7.0M |
| Key figures | ||||||||||
| Total debt | $1.24B | $1.24B | $1.20B | $602.1M | $980.8M | $1.01B | $796.6M | $734.8M | $791.2M | $1.51B |
| Net cash (debt) | −$879.0M | −$1.13B | −$1.16B | −$558.0M | −$910.9M | −$971.6M | −$709.6M | −$594.9M | −$759.0M | −$1.48B |
| Working capital | $196.6M | −$63.7M | −$156.4M | −$239.2M | −$260.5M | −$200.1M | −$76.5M | $36.4M | −$178.6M | −$35.7M |
| Tangible book value | $2.17B | $2.76B | $2.16B | $1.17B | $760.7M | $926.6M | $1.08B | $1.01B | −$54.1M | $7.0M |
| Book value per share | $12.38 | $15.72 | $17.85 | $13.93 | $9.30 | $13.69 | $19.82 | $21.87 | −$1.00 | $0.13 |
| Shares outstanding | 175.1M | 175.6M | 120.8M | 83.7M | 81.8M | 67.7M | 54.4M | 46.1M | 54.2M | 54.2M |
| Current ratio | 1.30 | 0.91 | 0.73 | 0.61 | 0.57 | 0.55 | 0.79 | 1.10 | 0.45 | 0.81 |
| Quick ratio | 1.06 | 0.71 | 0.54 | 0.42 | 0.48 | 0.47 | 0.59 | 0.77 | 0.37 | 0.59 |
| Debt / equity | 0.57 | 0.45 | 0.55 | 0.52 | 1.29 | 1.09 | 0.74 | 0.73 | — | 216.00 |
| Equity / assets | 39.0% | 44.6% | 44.7% | 38.1% | 27.5% | 32.7% | 41.6% | 40.6% | −4.4% | 0.6% |
| 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 | $577.6M | $386.4M | $362.8M | $332.7M | $357.3M | $202.9M | $108.2M | $45.5M | $37.8M | $21.0M | $33.6M | $13.6M |
| Cash & equivalents | $577.6M | $386.4M | $362.8M | $332.7M | $357.3M | $202.9M | $108.2M | $45.5M | $37.8M | $21.0M | $33.6M | $13.6M |
| Receivables | $330.3M | $341.3M | $323.1M | $332.6M | $340.4M | $372.2M | $404.3M | $393.1M | $413.6M | $409.3M | $277.6M | $285.9M |
| Inventory | −$48,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | $1 | $44.6M |
| Other current assets | $187.8M | $119.8M | $155.4M | $145.6M | $173.0M | $133.6M | $147.0M | $216.9M | $114.4M | $110.6M | $110.9M | $67.4M |
| Total current assets | $1.10B | $847.5M | $841.3M | $810.9M | $870.6M | $708.8M | $659.4M | $655.6M | $565.8M | $540.9M | $422.2M | $411.6M |
| Property, plant & equipment (net) | $4.10B | $31.4M | $31.9M | $4.60B | $4.82B | $5.16B | $5.28B | $46.9M | $5.49B | $5.59B | $4.05B | $4.06B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $44.7M | $44.8M | $112.4M | $111.6M | $112.6M | $110.8M | $111.3M | $109.1M | $109.7M | $108.0M | $146.0M | $141.7M |
| Other non-current assets | $193.0M | $4.35B | $4.57B | $175.9M | $118.9M | $149.0M | $136.3M | $5.59B | $193.1M | $199.3M | $196.4M | $135.6M |
| Total assets | $5.43B | $5.27B | $5.55B | $5.70B | $5.92B | $6.13B | $6.19B | $6.40B | $6.36B | $6.43B | $4.82B | $4.75B |
| Liabilities | ||||||||||||
| Accounts payable | $87.8M | $108.7M | $93.0M | $80.1M | $105.4M | $107.4M | $117.1M | $161.5M | $91.9M | $136.8M | $84.2M | $125.6M |
| Short-term debt | $3.9M | $3.7M | $3.7M | $24.7M | $3.8M | $3.7M | $3.8M | $3.9M | $22.6M | $21.8M | $53.6M | $36.0M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | $359.0M |
| Total current liabilities | $679.5M | $707.0M | $644.7M | $637.1M | $712.1M | $672.8M | $723.1M | $677.9M | $711.6M | $696.9M | $578.6M | $629.8M |
| Long-term debt | $1.23B | $1.23B | $1.23B | $1.22B | $1.22B | $1.22B | $1.22B | $1.34B | $1.44B | $1.53B | $992.6M | $1.02B |
| Lease obligations | $13.9M | $14.7M | $15.6M | $16.6M | $17.6M | $18.3M | $19.3M | $20.3M | $21.3M | $21.8M | $20.9M | $21.7M |
| Other long-term liabilities | $1.49B | $1.46B | $1.51B | $1.46B | $1.47B | $1.51B | $1.49B | $1.57B | $1.49B | $1.45B | $1.09B | $1.04B |
| Total liabilities | $3.40B | $3.40B | $3.38B | $3.32B | $3.41B | $3.40B | $3.43B | $3.58B | $3.64B | $3.68B | $2.66B | $2.69B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.9M | $1.3M | $1.3M |
| Retained earnings (deficit) | −$1.02B | −$1.17B | −$918.4M | −$715.8M | −$619.9M | −$434.0M | −$424.1M | −$359.6M | −$447.8M | −$460.2M | −$347.7M | −$433.6M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | $0 | $0 | $0 | $0 | $0 |
| Minority interest | $522,000 | $300,000 | $139,000 | $1.2M | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $2.03B | $1.87B | $2.17B | $2.38B | $2.52B | $2.73B | $2.76B | $2.82B | $2.73B | $2.75B | $2.16B | $2.06B |
| Key figures | ||||||||||||
| Total debt | $1.24B | $1.24B | $1.24B | $1.36B | $1.24B | $1.24B | $1.24B | $1.36B | $1.60B | $1.70B | $1.20B | $1.07B |
| Net cash (debt) | −$665.1M | −$855.8M | −$879.0M | −$1.03B | −$884.0M | −$1.04B | −$1.13B | −$1.31B | −$1.56B | −$1.68B | −$1.16B | −$1.06B |
| Working capital | $416.2M | $140.5M | $196.6M | $173.8M | $158.5M | $36.0M | −$63.7M | −$22.3M | −$145.9M | −$156.0M | −$156.4M | −$218.2M |
| Tangible book value | $2.03B | $1.87B | $2.17B | $2.38B | $2.52B | $2.73B | $2.76B | $2.82B | $2.73B | $2.75B | $2.16B | $2.06B |
| Book value per share | $11.95 | $11.13 | $12.38 | $13.74 | $14.20 | $15.16 | $15.33 | $15.60 | $14.84 | $17.37 | $17.22 | $16.62 |
| Shares outstanding | 170.1M | 168.4M | 175.1M | 173.3M | 177.4M | 180.2M | 180.1M | 180.6M | 183.7M | 158.5M | 125.2M | 124.1M |
| Current ratio | 1.61 | 1.20 | 1.30 | 1.27 | 1.22 | 1.05 | 0.91 | 0.97 | 0.80 | 0.78 | 0.73 | 0.65 |
| Quick ratio | 1.34 | 1.03 | 1.06 | 1.04 | 0.98 | 0.85 | 0.71 | 0.65 | 0.63 | 0.62 | 0.54 | 0.48 |
| Debt / equity | 0.61 | 0.66 | 0.57 | 0.57 | 0.49 | 0.45 | 0.45 | 0.48 | 0.59 | 0.62 | 0.55 | 0.52 |
| Equity / assets | 37.4% | 35.6% | 39.0% | 41.8% | 42.5% | 44.5% | 44.6% | 44.0% | 42.9% | 42.8% | 44.7% | 43.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 25, 2026); data from EODHD.
TALO financial position
At the end of fiscal 2025 (December 31, 2025), Talos Energy had total assets of $5.6 billion (down 10.3% from a year earlier), total liabilities of $3.4 billion and shareholders' equity of $2.2 billion. It held $362.8 million in cash and short-term investments against $1.2 billion of debt, net debt of $879.0 million. Its current ratio was 1.30. In the latest quarter (ended June 30, 2026) total assets were $5.4 billion and equity $2.0 billion.
Related: TALO income statement, TALO cash flow statement, TALO key metrics. See the TALO stock overview for the latest quote and news.
TALO balance sheet FAQ
What are Talos Energy's total assets?
Talos Energy reported total assets of $5.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $6.2 billion a year earlier.
How much debt does Talos Energy have?
Talos Energy had $1.2 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.57.
How much cash does Talos Energy have?
Talos Energy held $362.8 million in cash and short-term investments at the end of fiscal 2025; with $1.2 billion of debt that is net debt of $879.0 million.
What is Talos Energy's book value?
Talos Energy's shareholders' equity (book value) was $2.2 billion at the end of fiscal 2025, or $12.38 per share.
What is Talos Energy's current ratio?
Talos Energy had current assets of $841.3 million and current liabilities of $644.7 million, a current ratio of 1.30 (it can cover its short-term obligations).