Kartoon Studios Inc. (TOON) Balance Sheet
TOON balance sheet, 2025
December 31, 2025 · U.S. dollars$70.9M assets = $43.4M liabilities + $27.5M equity
Both columns are drawn to the same scale: what TOON owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TOON financial health
Descriptive bands, not a rating. Fiscal 2025.
TOON balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $18.0M2016 | $70.9M2025 | +16.4%/yr | |
| Total liabilities | $8.0M2016 | $43.4M2025 | +20.7%/yr | |
| Shareholders’ equity | $10.1M2016 | $26.2M2025 | +11.2%/yr | |
| Cash & short-term investments | $2.9M2016 | $6.9M2025 | +10.2%/yr | |
| Total debt | $1.3M2016 | $17.7M2025 | +33.3%/yr | |
| Net cash (debt) | $1.6M2016 | −$10.8M2025 | −$12.3M | |
| Working capital | −$479,4042016 | $2.3M2025 | +$2.8M | |
| Book value per share | $8.372020 | $0.522025 | −42.6%/yr | |
| Current ratio | 0.882016 | 1.072025 | +0.19 | |
| Debt / equity | 0.132016 | 0.672025 | +0.54 | |
| Shares outstanding | 14.2M2020 | 50.2M2025 | +28.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TOON assets
TOON liabilities and equity
TOON debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TOON balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $6.9M | $9.9M | $15.5M | $91.1M | $114.6M | $100.5M | $305,121 | $2.7M | $7.5M | $2.9M |
| Cash & equivalents | $2.9M | $7.9M | $3.6M | $7.4M | $2.1M | $100.5M | $305,121 | $2.7M | $7.5M | $2.9M |
| Short-term investments | $4.0M | $2.0M | $11.9M | $83.7M | $112.5M | $0 | — | — | — | — |
| Receivables | $28.0M | $23.6M | $38.9M | $45.8M | $9.9M | $1.7M | $4.1M | $2.2M | $3.1M | $122,910 |
| Inventory | $0 | $0 | $1 | $0 | $0 | $0 | $9,277 | $15,816 | $17,589 | $6,562 |
| Other current assets | $841,000 | $1.1M | $1.2M | $2.6M | $11.7M | $6.4M | $230,172 | $718,987 | $264,818 | $359,395 |
| Total current assets | $35.8M | $34.7M | $55.7M | $139.5M | $136.2M | $108.6M | $4.6M | $5.6M | $10.8M | $3.4M |
| Property, plant & equipment (net) | $7.1M | $8.2M | $10.8M | $13.2M | $3.2M | $2.1M | $4.1M | $75,634 | $94,666 | $90,461 |
| Goodwill & intangible assets | $17.6M | $22.3M | $24.3M | $70.4M | $27.9M | $22.2M | $20.3M | $10.5M | $12.2M | $12.2M |
| Long-term investments | $5.5M | $16.4M | $19.1M | $16.2M | $6.7M | $1.3M | $0 | $0 | $0 | $0 |
| Other non-current assets | $5.0M | $3.9M | $1.6M | $148,000 | $69,000 | $43,202 | $368,001 | $8.5M | $4.6M | $2.3M |
| Total assets | $70.9M | $85.5M | $111.4M | $239.6M | $174.1M | $134.2M | $29.4M | $24.6M | $27.7M | $18.0M |
| Liabilities | ||||||||||
| Accounts payable | $12.1M | $12.0M | $16.9M | $11.4M | $7.2M | $786,000 | $946,450 | $285,563 | $453,201 | $648,638 |
| Short-term debt | $13.1M | $11.4M | $21.1M | $83.3M | $7.1M | $512,000 | $3.0M | $1.8M | — | — |
| Deferred revenue | $4.4M | $6.0M | $3.1M | $9.1M | $432,000 | $684,000 | $664,887 | $874,503 | $453,927 | $410,662 |
| Total current liabilities | $33.5M | $33.4M | $45.6M | $110.9M | $21.1M | $7.2M | $8.3M | $4.6M | $2.8M | $3.9M |
| Long-term debt | $0 | $0 | $0 | $0 | $82,000 | $1.1M | $3.1M | $0 | $0 | $0 |
| Lease obligations | $5.9M | $6.7M | $9.7M | $11.5M | $3.1M | $2.2M | $4.2M | — | — | — |
| Other long-term liabilities | $9.9M | $15.6M | $12.5M | $15.8M | $8.2M | $6.7M | $8.9M | $7.2M | $9.9M | $4.1M |
| Total liabilities | $43.4M | $49.0M | $58.2M | $126.7M | $29.4M | $15.0M | $20.3M | $11.8M | $12.7M | $8.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $55,000 | $45,000 | $352,000 | $319,000 | $303,000 | $258,000 | $21,878 | $9,458 | $7,611 | $4,011 |
| Retained earnings (deficit) | −$763.8M | −$739.3M | −$718.5M | −$641.4M | −$595.8M | −$469.6M | −$66.0M | −$50.7M | −$41.6M | −$36.6M |
| Accumulated other comprehensive income | −$3.2M | −$3.4M | −$3.9M | −$9.9M | −$1.2M | −$5,000 | −$5,118 | −$5,118 | −$5,118 | −$2,734 |
| Minority interest | $1.3M | $1.5M | $1.7M | $1.8M | — | — | — | — | — | — |
| Total shareholders' equity | $26.2M | $35.0M | $51.6M | $111.1M | $142.7M | $119.2M | $9.1M | $12.8M | $15.0M | $10.1M |
| Key figures | ||||||||||
| Total debt | $17.7M | $16.8M | $28.7M | $92.4M | $9.6M | $3.7M | $9.6M | $4.0M | $4.3M | $1.3M |
| Net cash (debt) | −$10.8M | −$6.9M | −$13.2M | −$1.2M | $105.0M | $96.8M | −$9.3M | −$1.3M | $3.2M | $1.6M |
| Working capital | $2.3M | $1.2M | $10.0M | $28.6M | $115.1M | $101.4M | −$3.7M | $971,663 | $8.0M | −$479,404 |
| Tangible book value | $8.6M | $12.6M | $27.3M | $40.7M | $114.8M | $97.0M | −$11.2M | $2.4M | $2.8M | −$2.2M |
| Book value per share | $0.52 | $0.91 | $1.53 | $3.54 | $4.80 | $8.37 | — | — | — | — |
| Shares outstanding | 50.2M | 38.4M | 33.7M | 31.4M | 29.8M | 14.2M | — | — | — | — |
| Current ratio | 1.07 | 1.04 | 1.22 | 1.26 | 6.44 | 15.12 | 0.56 | 1.21 | 3.88 | 0.88 |
| Quick ratio | 1.04 | 1.00 | 1.19 | 1.23 | 5.89 | 14.24 | 0.53 | 1.05 | 3.78 | 0.78 |
| Debt / equity | 0.67 | 0.48 | 0.56 | 0.83 | 0.07 | 0.03 | 1.06 | 0.31 | 0.29 | 0.13 |
| Equity / assets | 37.0% | 40.9% | 46.3% | 46.4% | 82.0% | 88.8% | 30.9% | 52.2% | 54.3% | 55.8% |
| 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 | $40.5M | $6.0M | $6.9M | $916,000 | $2.7M | $5.5M | $9.9M | $8.7M | $9.2M | $12.1M | $16.0M | $20.0M |
| Cash & equivalents | $7.7M | $5.0M | $2.9M | $916,000 | $2.1M | $2.3M | $7.9M | $4.6M | $2.7M | $2.8M | $4.1M | $3.9M |
| Short-term investments | $32.8M | $996,000 | $4.0M | $0 | $687,000 | $3.2M | $2.0M | $4.1M | $6.5M | $9.4M | $11.9M | $16.2M |
| Receivables | $20.6M | $23.5M | $28.0M | $24.5M | $20.9M | $17.8M | $23.6M | $27.6M | $28.4M | $27.3M | $40.3M | $39.9M |
| Inventory | $177,000 | $0 | $0 | $0 | $0 | $0 | $0 | −$900,000 | $0 | $0 | $1 | $1 |
| Other current assets | $1.8M | $1.2M | $841,000 | $1.6M | $1.9M | $1.9M | $1.1M | $1.8M | $1.2M | $1.6M | $739,999 | $1.5M |
| Total current assets | $63.0M | $30.7M | $35.8M | $27.1M | $25.5M | $25.1M | $34.7M | $37.2M | $38.8M | $41.0M | $57.1M | $61.4M |
| Property, plant & equipment (net) | $8.0M | $6.8M | $7.1M | $7.4M | $7.9M | $7.8M | $8.2M | $9.0M | $9.4M | $10.0M | $10.8M | $11.5M |
| Goodwill & intangible assets | $16.2M | $23.8M | $17.6M | $18.7M | $23.5M | $22.8M | $22.3M | $23.0M | $23.0M | $23.5M | $23.0M | $45.9M |
| Long-term investments | $1.9M | $2.4M | $5.5M | $6.7M | $10.8M | $13.4M | $16.4M | $18.0M | $17.6M | $18.7M | $19.1M | $17.1M |
| Other non-current assets | $5.4M | $0 | $5.0M | $6.9M | $2.3M | $2.6M | $3.9M | $124,000 | $123,000 | $123,000 | $7.6M | $123,000 |
| Total assets | $94.5M | $63.6M | $70.9M | $66.7M | $70.0M | $71.7M | $85.5M | $87.3M | $89.0M | $93.3M | $117.6M | $136.2M |
| Liabilities | ||||||||||||
| Accounts payable | $5.7M | $7.1M | $12.1M | $8.2M | $6.8M | $6.0M | $12.0M | $12.0M | $10.3M | $12.0M | $16.9M | $9.6M |
| Short-term debt | $5.2M | $14.9M | $13.1M | $13.8M | $12.0M | $9.1M | $11.4M | $12.4M | $13.7M | $13.3M | $21.1M | $27.8M |
| Deferred revenue | $2.7M | $3.6M | $4.4M | $5.5M | $6.5M | $6.1M | $6.0M | $5.0M | $4.8M | $3.8M | $3.1M | $2.7M |
| Total current liabilities | $31.6M | $31.4M | $33.5M | $32.5M | $30.4M | $26.8M | $33.4M | $33.7M | $33.6M | $34.9M | $45.6M | $49.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $5.1M | $5.5M | $5.9M | $6.1M | $6.5M | $6.4M | $6.7M | $8.1M | $8.6M | $9.2M | $9.7M | $10.2M |
| Other long-term liabilities | $9.3M | $9.6M | $9.9M | $10.2M | $10.0M | $14.8M | $15.6M | $10.8M | $11.1M | $12.0M | $18.7M | $12.6M |
| Total liabilities | $40.9M | $41.0M | $43.4M | $42.7M | $40.3M | $41.6M | $49.0M | $44.5M | $44.6M | $46.9M | $64.4M | $62.2M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $62,000 | $57,000 | $55,000 | $49,000 | $48,000 | $48,000 | $45,000 | $40,000 | $356,000 | $352,000 | $352,000 | $351,000 |
| Retained earnings (deficit) | −$743.2M | −$770.2M | −$763.8M | −$758.5M | −$752.0M | −$745.8M | −$739.3M | −$733.5M | −$731.5M | −$725.6M | −$718.5M | −$696.9M |
| Accumulated other comprehensive income | −$3.2M | −$3.2M | −$3.2M | −$3.2M | −$3.2M | −$3.3M | −$3.4M | −$3.4M | −$3.7M | −$3.9M | −$3.9M | −$4.7M |
| Minority interest | $1.2M | $1.3M | $1.3M | $1.4M | $1.3M | — | — | — | — | — | — | — |
| Total shareholders' equity | $52.4M | $21.3M | $26.2M | $22.6M | $28.4M | $28.6M | $35.0M | $41.2M | $42.7M | $44.8M | $51.6M | $72.3M |
| Key figures | ||||||||||||
| Total debt | $9.1M | $19.1M | $17.7M | $18.7M | $17.2M | $14.2M | $16.8M | $18.5M | $20.0M | $20.4M | $28.7M | $35.8M |
| Net cash (debt) | $31.4M | −$13.1M | −$10.8M | −$17.7M | −$14.5M | −$8.7M | −$6.9M | −$9.8M | −$10.8M | −$8.3M | −$12.7M | −$15.8M |
| Working capital | $31.4M | −$662,000 | $2.3M | −$5.4M | −$4.9M | −$1.7M | $1.2M | $3.5M | $5.2M | $6.1M | $11.5M | $11.8M |
| Tangible book value | $36.2M | −$2.5M | $8.6M | $4.0M | $4.9M | $5.9M | $12.6M | $18.3M | $19.7M | $21.3M | $28.6M | $26.4M |
| Book value per share | $0.74 | $0.34 | $0.52 | $0.47 | $0.59 | $0.61 | $0.87 | $1.04 | $1.11 | $1.27 | $1.46 | $2.06 |
| Shares outstanding | 71.0M | 62.7M | 50.2M | 48.1M | 47.8M | 46.7M | 40.3M | 39.5M | 38.4M | 35.3M | 35.2M | 35.1M |
| Current ratio | 2.00 | 0.98 | 1.07 | 0.83 | 0.84 | 0.94 | 1.04 | 1.10 | 1.16 | 1.18 | 1.25 | 1.24 |
| Quick ratio | 1.93 | 0.94 | 1.04 | 0.78 | 0.78 | 0.87 | 1.00 | 1.08 | 1.12 | 1.13 | 1.24 | 1.21 |
| Debt / equity | 0.17 | 0.90 | 0.67 | 0.82 | 0.61 | 0.50 | 0.48 | 0.45 | 0.47 | 0.46 | 0.56 | 0.50 |
| Equity / assets | 55.4% | 33.5% | 37.0% | 33.9% | 40.5% | 39.9% | 40.9% | 47.2% | 48.0% | 48.0% | 43.8% | 53.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 31, 2026); data from EODHD.
TOON financial position
At the end of fiscal 2025 (December 31, 2025), Kartoon Studios had total assets of $70.9 million (down 17.0% from a year earlier), total liabilities of $43.4 million and shareholders' equity of $26.2 million. It held $6.9 million in cash and short-term investments against $17.7 million of debt, net debt of $10.8 million. Its current ratio was 1.07. In the latest quarter (ended June 30, 2026) total assets were $94.5 million and equity $52.4 million.
Related: TOON income statement, TOON cash flow statement, TOON key metrics. See the TOON stock overview for the latest quote and news.
TOON balance sheet FAQ
What are Kartoon Studios's total assets?
Kartoon Studios reported total assets of $70.9 million at the end of fiscal 2025 (December 31, 2025), compared with $85.5 million a year earlier.
How much debt does Kartoon Studios have?
Kartoon Studios had $17.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.67.
How much cash does Kartoon Studios have?
Kartoon Studios held $6.9 million in cash and short-term investments at the end of fiscal 2025; with $17.7 million of debt that is net debt of $10.8 million.
What is Kartoon Studios's book value?
Kartoon Studios's shareholders' equity (book value) was $26.2 million at the end of fiscal 2025, or $0.52 per share.
What is Kartoon Studios's current ratio?
Kartoon Studios had current assets of $35.8 million and current liabilities of $33.5 million, a current ratio of 1.07 (it can cover its short-term obligations).
How much goodwill does Kartoon Studios have?
Kartoon Studios carried $17.6 million of goodwill and intangible assets, 24.8% of total assets, at the end of fiscal 2025.