Acuren Corporation (TIC) Balance Sheet
TIC balance sheet, FY2025
November 30, 2025 · U.S. dollars$4.40B assets = $2.22B liabilities + $2.18B equity
Both columns are drawn to the same scale: what TIC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TIC financial health
Descriptive bands, not a rating. Fiscal FY2025.
TIC balance sheet trends, FY2022–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.30BFY2022 | $4.40BFY2025 | +50.1%/yr | |
| Total liabilities | $778.2MFY2022 | $2.22BFY2025 | +41.7%/yr | |
| Shareholders’ equity | $522.1MFY2022 | $2.18BFY2025 | +61.0%/yr | |
| Cash & short-term investments | $62.6MFY2022 | $439.5MFY2025 | +91.5%/yr | |
| Total debt | $575.1MFY2022 | $1.71BFY2025 | +43.9%/yr | |
| Net cash (debt) | −$512.6MFY2022 | −$1.27BFY2025 | −$760.7M | |
| Working capital | $207.1MFY2022 | $702.0MFY2025 | +$495.0M | |
| Book value per share | $9.48FY2024 | $13.83FY2025 | +46.0%/yr | |
| Current ratio | 3.06FY2022 | 3.20FY2025 | +0.14 | |
| Debt / equity | 1.10FY2022 | 0.79FY2025 | −0.32 | |
| Shares outstanding | 121.5MFY2024 | 157.6MFY2025 | +29.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TIC assets
TIC liabilities and equity
TIC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TIC balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $439.5M | $139.1M | $87.1M | $62.6M |
| Cash & equivalents | $439.5M | $139.1M | $87.1M | $62.6M |
| Short-term investments | — | — | $550.8M | — |
| Receivables | $520.7M | $236.5M | $233.2M | $234.8M |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $60.8M | $18.6M | $13.6M | $10.3M |
| Total current assets | $1.02B | $394.2M | $333.9M | $307.7M |
| Property, plant & equipment (net) | $315.8M | $219.2M | $134.7M | $0 |
| Goodwill & intangible assets | $3.04B | $1.59B | $775.8M | $804.5M |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $18.5M | $7.7M | $18.2M | $188.1M |
| Total assets | $4.40B | $2.21B | $1.26B | $1.30B |
| Liabilities | ||||
| Accounts payable | $60.4M | $18.0M | $32.8M | — |
| Short-term debt | $59.1M | $24.8M | $23.9M | $0 |
| Deferred revenue | $47.8M | — | — | — |
| Total current liabilities | $319.0M | $106.3M | $112.9M | $100.7M |
| Long-term debt | $1.61B | $766.0M | $688.3M | $575.1M |
| Lease obligations | $99.6M | $57.8M | $54.7M | — |
| Other long-term liabilities | $284.3M | $184.3M | $79.4M | $102.4M |
| Total liabilities | $2.22B | $1.06B | $880.6M | $778.2M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $21,000 | $12,000 | $50,000 | $50,000 |
| Retained earnings (deficit) | −$194.1M | −$107.0M | $17.4M | $23.7M |
| Accumulated other comprehensive income | $11.1M | −$35.5M | −$796,000 | — |
| Total shareholders' equity | $2.18B | $1.15B | $382.0M | $522.1M |
| Key figures | ||||
| Total debt | $1.71B | $812.6M | $730.0M | $575.1M |
| Net cash (debt) | −$1.27B | −$673.4M | −$642.9M | −$512.6M |
| Working capital | $702.0M | $287.9M | $221.0M | $207.1M |
| Tangible book value | −$861.1M | −$435.4M | −$393.8M | −$282.4M |
| Book value per share | $13.83 | $9.48 | — | — |
| Shares outstanding | 157.6M | 121.5M | — | — |
| Current ratio | 3.20 | 3.71 | 2.96 | 3.06 |
| Quick ratio | 3.01 | 3.53 | 2.84 | 2.95 |
| Debt / equity | 0.79 | 0.71 | 1.91 | 1.10 |
| Equity / assets | 49.6% | 52.1% | 30.3% | 40.2% |
| May '26 | Feb '26 | Nov '25 | Aug '25 | May '25 | Feb '25 | Nov '24 | Aug '24 | Nov '23 | May '23 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $362.4M | $426.6M | $439.5M | $164.4M | $130.1M | $155.7M | $132.5M | $132.5M | $87.1M | $540.2M |
| Cash & equivalents | $362.4M | $426.6M | $439.5M | $164.4M | $130.1M | $155.7M | $132.5M | $132.5M | $87.1M | $138.0M |
| Short-term investments | — | — | — | — | — | — | — | — | $550.8M | $402.2M |
| Receivables | $585.0M | $527.0M | $520.7M | $577.6M | $257.6M | $206.7M | $278.2M | $278.2M | $233.2M | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $66.9M | $66.8M | $60.8M | $49.9M | $11.4M | $14.3M | $16.1M | $16.1M | $13.6M | $410,000 |
| Total current assets | $1.01B | $1.02B | $1.02B | $791.9M | $399.1M | $376.7M | $426.7M | $426.7M | $333.9M | $540.6M |
| Property, plant & equipment (net) | $293.7M | $300.5M | $315.8M | $317.1M | $216.4M | $214.0M | $218.4M | $0 | $134.7M | $0 |
| Goodwill & intangible assets | $2.97B | $3.00B | $3.04B | $3.10B | $1.62B | $1.58B | $1.67B | $1.67B | $775.8M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $11.0M | $11.7M | $18.5M | $13.6M | $7.9M | $7.6M | $16.2M | $234.6M | $18.2M | $0 |
| Total assets | $4.29B | $4.33B | $4.40B | $4.22B | $2.24B | $2.18B | $2.33B | $2.33B | $1.26B | $540.6M |
| Liabilities | ||||||||||
| Accounts payable | $57.2M | $85.7M | $92.5M | $102.5M | $22.5M | $24.4M | $23.2M | — | $32.8M | — |
| Short-term debt | $54.4M | $55.7M | $0 | $57.4M | $27.1M | $25.3M | $23.8M | $0 | $23.9M | — |
| Deferred revenue | — | $52.0M | — | $46.6M | — | — | — | — | — | — |
| Total current liabilities | $348.2M | $333.4M | $319.0M | $329.0M | $119.2M | $107.9M | $117.8M | $117.8M | $112.9M | $496,000 |
| Long-term debt | $1.59B | $1.59B | $1.65B | $1.66B | $786.2M | $784.2M | $766.0M | $767.1M | $0 | $0 |
| Lease obligations | $90.3M | $93.6M | $99.6M | $99.5M | $62.0M | $57.1M | $57.8M | — | — | — |
| Other long-term liabilities | $258.5M | $279.4M | $243.7M | $283.1M | $157.9M | $159.1M | $233.0M | $231.9M | $767.7M | $0 |
| Total liabilities | $2.20B | $2.20B | $2.22B | $2.27B | $1.06B | $1.05B | $1.12B | $1.12B | $880.6M | $496,000 |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $21,000 | $21,000 | $21,100 | $19,000 | $12,000 | $12,000 | $12,100 | $0 | $50,000 | — |
| Retained earnings (deficit) | −$249.0M | −$235.7M | −$194.1M | −$146.9M | −$133.0M | −$132.8M | −$91.4M | −$91.4M | $17.4M | $411,000 |
| Accumulated other comprehensive income | −$24.4M | −$1.6M | — | −$2.7M | $15.4M | −$32.9M | $10.9M | — | −$796,000 | — |
| Total shareholders' equity | $2.10B | $2.13B | $2.18B | $1.95B | $1.18B | $1.13B | $1.21B | $1.21B | $382.0M | $540.1M |
| Key figures | ||||||||||
| Total debt | $1.70B | $1.70B | $1.65B | $1.72B | $813.2M | $809.6M | $810.4M | $767.1M | $730.0M | — |
| Net cash (debt) | −$1.34B | −$1.28B | −$1.21B | −$1.55B | −$683.2M | −$653.8M | −$677.9M | −$634.6M | −$642.9M | — |
| Working capital | $666.2M | $686.9M | $702.0M | $462.9M | $280.0M | $268.7M | $308.9M | $308.9M | $221.0M | $540.1M |
| Tangible book value | −$877.1M | −$865.7M | −$861.1M | −$1.15B | −$439.8M | −$453.0M | −$455.5M | −$455.5M | −$393.8M | $540.1M |
| Book value per share | $13.30 | $13.54 | $9.89 | $15.93 | $9.63 | $9.29 | $14.13 | $9.98 | $7.08 | — |
| Shares outstanding | 157.6M | 157.6M | 220.5M | 122.5M | 122.5M | 121.5M | 85.7M | 121.4M | 54.0M | — |
| Current ratio | 2.91 | 3.06 | 3.20 | 2.41 | 3.35 | 3.49 | 3.62 | 3.62 | 2.96 | 1,089.98 |
| Quick ratio | 2.72 | 2.86 | 3.01 | 2.26 | 3.25 | 3.36 | 3.49 | 3.49 | 2.84 | 1,089.16 |
| Debt / equity | 0.81 | 0.80 | 0.76 | 0.88 | 0.69 | 0.72 | 0.67 | 0.63 | 1.91 | — |
| Equity / assets | 48.8% | 49.3% | 49.6% | 46.2% | 52.6% | 51.8% | 52.0% | 52.0% | 30.3% | 99.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 12, 2026); data from EODHD.
TIC financial position
At the end of fiscal 2025 (November 30, 2025), Acuren had total assets of $4.4 billion (up 99.1% from a year earlier), total liabilities of $2.2 billion and shareholders' equity of $2.2 billion. It held $439.5 million in cash and short-term investments against $1.7 billion of debt, net debt of $1.3 billion. Its current ratio was 3.20. In the latest quarter (ended May 31, 2026) total assets were $4.3 billion and equity $2.1 billion.
Related: TIC income statement, TIC cash flow statement, TIC key metrics. See the TIC stock overview for the latest quote and news.
TIC balance sheet FAQ
What are Acuren's total assets?
Acuren reported total assets of $4.4 billion at the end of fiscal 2025 (November 30, 2025), compared with $2.2 billion a year earlier.
How much debt does Acuren have?
Acuren had $1.7 billion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.79.
How much cash does Acuren have?
Acuren held $439.5 million in cash and short-term investments at the end of fiscal 2025; with $1.7 billion of debt that is net debt of $1.3 billion.
What is Acuren's book value?
Acuren's shareholders' equity (book value) was $2.2 billion at the end of fiscal 2025, or $13.83 per share.
What is Acuren's current ratio?
Acuren had current assets of $1.0 billion and current liabilities of $319.0 million, a current ratio of 3.20 (it can cover its short-term obligations).
How much goodwill does Acuren have?
Acuren carried $3.0 billion of goodwill and intangible assets, 69.2% of total assets, at the end of fiscal 2025.