The Generation Essentials Group (TGE) Balance Sheet
TGE balance sheet, 2025
December 31, 2025 · U.S. dollars$1.46B assets = $625.0M liabilities + $839.1M equity
Both columns are drawn to the same scale: what TGE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TGE financial health
Descriptive bands, not a rating. Fiscal 2025.
TGE balance sheet trends, 2015–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $3.02B2015 | $1.46B2025 | −8.6%/yr | |
| Total liabilities | $2.59B2015 | $625.0M2025 | −16.3%/yr | |
| Shareholders’ equity | $422.3M2015 | $728.9M2025 | +7.1%/yr | |
| Cash & short-term investments | $2.2M2015 | $25.7M2025 | +35.7%/yr | |
| Total debt | $901.0M2015 | $208.9M2025 | −16.7%/yr | |
| Net cash (debt) | −$898.8M2015 | −$183.2M2025 | +$715.6M | |
| Working capital | −$11.2M2015 | $85.0M2025 | +$96.2M | |
| Book value per share | $8.832015 | $15.042025 | +6.9%/yr | |
| Current ratio | 0.872015 | 1.672025 | +0.79 | |
| Debt / equity | 2.132015 | 0.292025 | −1.85 | |
| Shares outstanding | 47.8M2015 | 48.5M2025 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TGE assets
TGE liabilities and equity
TGE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TGE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|
| Assets | |||||||||
| Cash & short-term investments | $25.7M | $45.2M | $23.7M | $22.4M | $9.4M | $9.6M | $2.6M | $2.5M | $2.2M |
| Cash & equivalents | $17.7M | $20.0M | $6.1M | $1.2M | $9.4M | $9.6M | $2.6M | $2.5M | $2.2M |
| Short-term investments | $8.0M | $25.2M | $17.6M | $21.2M | — | — | — | — | — |
| Receivables | $7.1M | $7.6M | $7.1M | $4.5M | $324.3M | $236.1M | $120.0M | $61.1M | $59.0M |
| Inventory | $0 | $0 | $0 | $0 | $49.1M | $34.3M | $21.6M | $13.1M | $13.8M |
| Other current assets | $179.7M | $32.3M | $994,000 | $185.8M | $12.5M | $11.8M | $13.2M | $18.6M | $2.9M |
| Total current assets | $212.5M | $85.0M | $31.8M | $212.7M | $395.2M | $291.8M | $157.3M | $95.3M | $77.8M |
| Property, plant & equipment (net) | $596.1M | $574.7M | $195.1M | $173.3M | $2.79B | $2.80B | $2.39B | $2.08B | $2.03B |
| Goodwill & intangible assets | $119.1M | $119.4M | $118.7M | $93.0M | $682.9M | $649.1M | $502.6M | $436.8M | $439.8M |
| Long-term investments | $459.1M | $395.3M | $155.9M | $202.6M | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $77.2M | $0 | $0 | $0 | $0 | $2.15B | $1.24B | $932.1M | $474.0M |
| Total assets | $1.46B | $1.17B | $501.5M | $681.7M | $3.85B | $5.89B | $4.29B | $3.54B | $3.02B |
| Liabilities | |||||||||
| Accounts payable | $1.5M | $2.8M | $5.8M | $6.1M | $246.3M | $201.5M | $104.2M | $31.5M | $31.6M |
| Short-term debt | — | $429,000 | $926,000 | $671,000 | — | $20.7M | $19.3M | $16.3M | $13.8M |
| Deferred revenue | — | $564,000 | $809,000 | $1.3M | $127.9M | $111.1M | $88.5M | $60.8M | $26.5M |
| Total current liabilities | $127.5M | $75.7M | $83.1M | $74.6M | $527.1M | $438.8M | $258.9M | $133.0M | $89.0M |
| Long-term debt | $208.9M | $0 | $61.6M | $51.1M | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $273,000 | $520,000 | $383,000 | $220,000 | — | — | — | — | — |
| Other long-term liabilities | $288.6M | $329.6M | $79.0M | $69.3M | $3.49B | $3.24B | $2.31B | $1.56B | $906.1M |
| Total liabilities | $625.0M | $405.3M | $223.7M | $195.0M | $4.41B | $4.17B | $4.24B | $3.29B | $2.59B |
| Shareholders' equity | |||||||||
| Common stock & paid-in capital | — | $155.3M | — | — | $1.80B | $1.73B | $48.6M | $333.3M | $422.3M |
| Accumulated other comprehensive income | — | $665.3M | $103.8M | $289.3M | −$482.2M | −$380.4M | −$279.2M | −$195.9M | −$133.4M |
| Minority interest | $110.2M | $103.9M | $174.1M | $197.4M | — | — | — | — | — |
| Total shareholders' equity | $728.9M | $769.1M | $277.8M | $486.6M | −$559.6M | $1.73B | $48.6M | $251.2M | $422.3M |
| Key figures | |||||||||
| Total debt | $208.9M | $220.1M | $62.7M | $51.9M | $3.44B | $3.21B | $2.29B | $1.56B | $901.0M |
| Net cash (debt) | −$183.2M | −$174.9M | −$39.0M | −$29.5M | −$3.43B | −$3.20B | −$2.29B | −$1.55B | −$898.8M |
| Working capital | $85.0M | $9.4M | −$51.3M | $138.1M | −$131.8M | −$146.9M | −$101.6M | −$37.7M | −$11.2M |
| Tangible book value | $609.8M | $649.7M | $159.2M | $393.6M | −$1.24B | $1.08B | −$454.0M | −$185.6M | −$17.5M |
| Book value per share | $15.04 | $15.87 | $5.94 | $10.40 | −$3.17 | $10.65 | $0.84 | $5.14 | $8.83 |
| Shares outstanding | 48.5M | 48.5M | 46.8M | 46.8M | 176.5M | 162.0M | 58.1M | 48.9M | 47.8M |
| Current ratio | 1.67 | 1.12 | 0.38 | 2.85 | 0.75 | 0.67 | 0.61 | 0.72 | 0.87 |
| Quick ratio | 0.26 | 0.70 | 0.37 | 0.36 | 0.63 | 0.56 | 0.47 | 0.48 | 0.69 |
| Debt / equity | 0.29 | 0.29 | 0.23 | 0.11 | — | 1.86 | 47.17 | 6.19 | 2.13 |
| Equity / assets | 49.8% | 65.5% | 55.4% | 71.4% | −14.5% | 29.3% | 1.1% | 7.1% | 14.0% |
| Mar '25 | Dec '24 | Sep '24 | Jun '24 | Dec '23 | Dec '19 | Sep '19 | Jun '19 | Mar '19 | Dec '18 | Sep '18 | Jun '18 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $2.0M | $45.2M | $2.1M | $61.1M | $23.7M | $9.4M | $16.0M | $9.4M | $15.0M | $9.6M | $5.5M | $5.0M |
| Cash & equivalents | $2.0M | $20.0M | $2.1M | $48.0M | $6.1M | $9.4M | $16.0M | $9.4M | $15.0M | $9.6M | $5.5M | $5.0M |
| Short-term investments | — | $25.2M | — | $13.2M | $17.6M | — | — | — | — | — | — | — |
| Receivables | $0 | $7.6M | $0 | $14.8M | $7.1M | $324.3M | $246.3M | $235.7M | $227.3M | $236.1M | $235.7M | $214.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $49.1M | $41.0M | $32.7M | $28.0M | $34.3M | $29.3M | $21.1M |
| Other current assets | $143,110 | $32.3M | $187,660 | $1.4M | $994,000 | $12.5M | $14.8M | $16.0M | $18.2M | $11.8M | $19.7M | $15.7M |
| Total current assets | $2.1M | $85.0M | $2.3M | $77.3M | $31.8M | $395.2M | $318.1M | $293.7M | $288.5M | $291.8M | $290.3M | $255.8M |
| Property, plant & equipment (net) | $0 | $574.7M | $0 | $542.1M | $195.1M | $2.79B | $2.88B | $2.83B | $2.75B | $2.80B | $2.66B | $2.60B |
| Goodwill & intangible assets | $0 | $119.4M | $0 | $118.7M | $118.7M | $682.9M | $688.0M | $696.6M | $645.7M | $649.1M | $537.7M | $539.5M |
| Long-term investments | $0 | $395.3M | $0 | $78.0M | $155.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $156.9M | $0 | $153.7M | $0 | $0 | $0 | $2.32B | $2.38B | $2.38B | $2.15B | $2.18B | $1.79B |
| Total assets | $159.0M | $1.17B | $156.0M | $816.1M | $501.5M | $3.85B | $6.20B | $6.20B | $6.07B | $5.89B | $5.67B | $5.18B |
| Liabilities | ||||||||||||
| Accounts payable | — | $2.8M | — | $786,000 | $5.8M | $246.3M | $196.0M | $181.7M | $187.3M | $201.5M | $223.1M | $196.7M |
| Short-term debt | $0 | $429,000 | $0 | $247,000 | $926,000 | — | $28.4M | $21.4M | $27.0M | $20.7M | $25.4M | $19.2M |
| Deferred revenue | — | $564,000 | — | $665,000 | $809,000 | $127.9M | $125.2M | $127.4M | $123.2M | $111.1M | $103.7M | $100.0M |
| Total current liabilities | $2.5M | $75.7M | $156,910 | $90.7M | $83.1M | $527.1M | $437.2M | $425.3M | $404.6M | $438.8M | $397.2M | $389.0M |
| Long-term debt | $0 | $0 | $0 | $220.2M | $61.6M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $520,000 | — | $206,000 | $383,000 | — | — | — | — | — | — | — |
| Other long-term liabilities | $4.3M | $329.6M | $4.3M | $115.2M | $79.0M | $3.49B | $3.50B | $3.49B | $3.36B | $3.24B | $3.05B | $2.56B |
| Total liabilities | $6.8M | $405.3M | $4.4M | $426.1M | $223.7M | $4.41B | $4.35B | $4.33B | $4.18B | $4.17B | $3.93B | $3.43B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $156.9M | $155.3M | $153.7M | — | — | $1.80B | $1.85B | $1.87B | $1.89B | $1.73B | $1.74B | $1.74B |
| Accumulated other comprehensive income | — | $665.3M | — | $123.0M | $103.8M | −$482.2M | −$456.5M | −$430.3M | −$405.6M | −$380.4M | −$356.9M | −$339.2M |
| Minority interest | — | $103.9M | — | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $152.2M | $665.3M | $151.6M | $123.0M | $103.8M | $1.80B | $1.85B | $1.87B | $1.89B | $1.73B | $1.74B | $1.74B |
| Key figures | ||||||||||||
| Total debt | $0 | $220.1M | $0 | $220.6M | $62.7M | $3.44B | $3.45B | $3.44B | $3.33B | $3.21B | $3.03B | $2.54B |
| Net cash (debt) | $2.0M | −$174.9M | $2.1M | −$159.4M | −$39.0M | −$3.43B | −$3.44B | −$3.43B | −$3.32B | −$3.20B | −$3.03B | −$2.53B |
| Working capital | −$408,490 | $9.4M | $2.2M | −$13.4M | −$51.3M | −$131.8M | −$119.2M | −$131.6M | −$116.1M | −$146.9M | −$107.0M | −$133.2M |
| Tangible book value | $152.2M | $545.9M | $151.6M | $4.3M | −$14.9M | $1.12B | $1.16B | $1.17B | $1.24B | $1.08B | $1.20B | $1.21B |
| Book value per share | $7.96 | $34.79 | $7.93 | $2.63 | $2.22 | $9.91 | $10.26 | $10.37 | $11.61 | $10.70 | $11.14 | $29.37 |
| Shares outstanding | 19.1M | 19.1M | 19.1M | 46.8M | 46.8M | 181.7M | 180.2M | 180.4M | 162.8M | 161.3M | 156.1M | 59.4M |
| Current ratio | 0.84 | 1.12 | 14.76 | 0.85 | 0.38 | 0.75 | 0.73 | 0.69 | 0.71 | 0.67 | 0.73 | 0.66 |
| Quick ratio | 0.78 | 0.70 | 13.56 | 0.84 | 0.37 | 0.63 | 0.60 | 0.58 | 0.60 | 0.56 | 0.61 | 0.56 |
| Debt / equity | 0.00 | 0.33 | 0.00 | 1.79 | 0.60 | 1.91 | 1.87 | 1.84 | 1.76 | 1.86 | 1.75 | 1.45 |
| Equity / assets | 95.7% | 56.6% | 97.2% | 15.1% | 20.7% | 46.8% | 29.8% | 30.2% | 31.1% | 29.3% | 30.7% | 33.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed —); data from EODHD.
TGE financial position
At the end of fiscal 2025 (December 31, 2025), Generation Essentials had total assets of $1.5 billion (up 24.7% from a year earlier), total liabilities of $625.0 million and shareholders' equity of $728.9 million. It held $25.7 million in cash and short-term investments against $208.9 million of debt, net debt of $183.2 million. Its current ratio was 1.67.
Related: TGE income statement, TGE cash flow statement, TGE key metrics. See the TGE stock overview for the latest quote and news.
TGE balance sheet FAQ
What are Generation Essentials's total assets?
Generation Essentials reported total assets of $1.5 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.2 billion a year earlier.
How much debt does Generation Essentials have?
Generation Essentials had $208.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.29.
How much cash does Generation Essentials have?
Generation Essentials held $25.7 million in cash and short-term investments at the end of fiscal 2025; with $208.9 million of debt that is net debt of $183.2 million.
What is Generation Essentials's book value?
Generation Essentials's shareholders' equity (book value) was $728.9 million at the end of fiscal 2025, or $15.04 per share.
What is Generation Essentials's current ratio?
Generation Essentials had current assets of $212.5 million and current liabilities of $127.5 million, a current ratio of 1.67 (it can cover its short-term obligations).
How much goodwill does Generation Essentials have?
Generation Essentials carried $119.1 million of goodwill and intangible assets, 8.1% of total assets, at the end of fiscal 2025.