The GrowHub Limited Class A (TGHL) Balance Sheet

NASDAQ: TGHLAssets, liabilities, debt and equity over 4 years.

TGHL balance sheet, 2025

December 31, 2025 · Singapore dollars

S$1.3M assets = S$4.3M liabilities + −S$3.0M equity

What it ownsS$1.3MCash & ST investments: S$1.2M (88.5%)Cash & ST investmentsS$1.2M · 88%Receivables: S$890 (0.1%)Other current: S$69,498 (5.3%)PP&E: S$14,183 (1.1%)Goodwill & intangibles: S$66,930 (5.1%)=How it is financedS$4.3MCurrent liabilities: S$4.3M (100.0%)Current liabilitiesS$4.3M · 100%Other LT liabilities: S$2,132 (0.0%)

Liabilities exceed assets: shareholders’ equity is negative (−S$3.0M).

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

TGHL financial health

Current ratio0.29
Tight · current assets cover current liabilities 0.29×
Equity / assets−224.7%
Thin equity · of assets funded by shareholders
Cash / debt36.8%
Low cash cover · cash & short-term investments vs total debt
Goodwill & intangibles5.1%
Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

TGHL balance sheet trends, 2022–2025

MetricTrendThenLatestChange
Total assetsS$3.5M2022S$1.3M2025−27.6%/yr
Total liabilitiesS$5.9M2022S$4.3M2025−10.3%/yr
Shareholders’ equity−S$2.4M2022−S$3.0M2025—
Cash & short-term investmentsS$18,4482022S$1.2M2025+298.1%/yr
Total debtS$5.1M2022S$3.2M2025−14.4%/yr
Net cash (debt)−S$5.0M2022−S$2.0M2025+S$3.0M
Working capital−S$4.8M2022−S$3.0M2025+S$1.8M
Current ratio0.0820220.292025+0.21
Shares outstanding24.3M202225.3M2025+1.4%/yr

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

TGHL assets

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

TGHL liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

TGHL debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

TGHL balance sheet in Singapore dollars

2025202420232022
Assets
Cash & short-term investmentsS$1.2MS$546,288S$15,013S$18,448
Cash & equivalentsS$1.2MS$546,288S$15,013S$18,448
ReceivablesS$890S$310,833S$41,420S$61,963
InventoryS$0S$50,480S$21,773S$278,202
Other current assetsS$69,498S$1.1MS$183,677S$77,488
Total current assetsS$1.2MS$2.0MS$261,883S$436,101
Property, plant & equipment (net)S$14,183S$222,438S$184,687S$759,206
Goodwill & intangible assetsS$66,930S$2.1MS$2.1MS$2.3M
Long-term investmentsS$0S$0S$0S$0
Other non-current assetsS$0S$0S$0S$0
Total assetsS$1.3MS$4.3MS$2.6MS$3.5M
Liabilities
Accounts payableS$189S$19,782S$190,858S$314,343
Short-term debtS$3.2MS$5.5MS$4.1MS$4.4M
Deferred revenueS$428,558—S$9,799—
Total current liabilitiesS$4.3MS$5.8MS$5.1MS$5.3M
Long-term debtS$0S$0S$0S$0
Lease obligationsS$14,053S$210,707S$187,630S$763,616
Other long-term liabilitiesS$2,132S$152,742S$162,281S$670,681
Total liabilitiesS$4.3MS$6.0MS$5.2MS$5.9M
Shareholders' equity
Common stock & paid-in capitalS$16,624S$14,216——
Retained earnings (deficit)−S$23.9M−S$6.7M−S$4.3M−S$2.6M
Accumulated other comprehensive incomeS$274,778S$39,277S$12,567S$3,837
Minority interestS$0S$0−S$47,751−S$27,266
Total shareholders' equity−S$3.0M−S$1.7M−S$2.6M−S$2.4M
Key figures
Total debtS$3.2MS$5.7MS$4.3MS$5.1M
Net cash (debt)−S$2.0M−S$5.1M−S$4.3M−S$5.0M
Working capital−S$3.0M−S$3.8M−S$4.8M−S$4.8M
Tangible book value−S$3.0M−S$3.8M−S$4.7M−S$4.7M
Shares outstanding25.3M25.3M25.3M24.3M
Current ratio0.290.340.050.08
Quick ratio0.270.150.010.02
Equity / assets−224.7%−38.9%−102.2%−70.5%

Quarterly columns are labeled by the month the quarter ended. Figures in Singapore dollars as reported (latest annual report filed May 15, 2026); data from EODHD.

TGHL financial position

At the end of fiscal 2025 (December 31, 2025), GrowHub had total assets of S$1.3 million (down 69.3% from a year earlier), total liabilities of S$4.3 million and shareholders' equity of -S$3.0 million. It held S$1.2 million in cash and short-term investments against S$3.2 million of debt, net debt of S$2.0 million. Its current ratio was 0.29. In the latest quarter (ended March 31, 2026) total assets were S$1.3 million and equity -S$3.0 million.

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

TGHL balance sheet FAQ

What are GrowHub's total assets?

GrowHub reported total assets of S$1.3 million at the end of fiscal 2025 (December 31, 2025), compared with S$4.3 million a year earlier.

How much debt does GrowHub have?

GrowHub had S$3.2 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 GrowHub have?

GrowHub held S$1.2 million in cash and short-term investments at the end of fiscal 2025; with S$3.2 million of debt that is net debt of S$2.0 million.

What is GrowHub's book value?

GrowHub's shareholders' equity (book value) was -S$3.0 million at the end of fiscal 2025.

What is GrowHub's current ratio?

GrowHub had current assets of S$1.2 million and current liabilities of S$4.3 million, a current ratio of 0.29 (current liabilities exceed current assets).

How much goodwill does GrowHub have?

GrowHub carried S$0.1 million of goodwill and intangible assets, 5.1% of total assets, at the end of fiscal 2025.

Software - Infrastructure: balance sheet