TruGolf Holdings, Inc. (TRUG) Balance Sheet
TRUG balance sheet, FY2026
September 30, 2026 · U.S. dollars$20.2M assets = $15.9M liabilities + $4.3M equity
Both columns are drawn to the same scale: what TRUG owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TRUG financial health
Descriptive bands, not a rating. Fiscal FY2026.
TRUG balance sheet trends, FY2020–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $537,567FY2020 | $20.2MFY2026 | +83.0%/yr | |
| Total liabilities | $546,962FY2020 | $15.9MFY2026 | +75.3%/yr | |
| Shareholders’ equity | −$9,395FY2020 | $4.3MFY2026 | — | |
| Cash & short-term investments | $500,067FY2020 | $10.5MFY2026 | +66.0%/yr | |
| Total debt | $500,000FY2020 | $5.9MFY2026 | +50.9%/yr | |
| Net cash (debt) | $67FY2020 | $4.6MFY2026 | +$4.6M | |
| Working capital | $459,105FY2020 | $1.1MFY2026 | +$617,391 | |
| Book value per share | −$0.01FY2020 | −$3.84FY2021 | — | |
| Current ratio | 12.21FY2020 | 1.07FY2026 | −11.13 | |
| Shares outstanding | 822KFY2020 | 822KFY2021 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TRUG assets
TRUG liabilities and equity
TRUG debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TRUG balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $10.5M | $10.9M | $10.9M | $5.8M | $9.7M | $10.7M | $500,067 |
| Cash & equivalents | $10.5M | $10.9M | $10.9M | $3.3M | $9.7M | $10.7M | $500,067 |
| Short-term investments | — | — | $0 | $2.5M | $9.2M | $127.8M | — |
| Receivables | $1.1M | $1.4M | $1.4M | $2.2M | $1.7M | $1.5M | $0 |
| Inventory | $863,257 | $2.3M | $2.3M | $2.1M | $2.1M | $1.9M | $0 |
| Other current assets | $3.1M | $162,356 | $162,356 | $2.5M | $165,588 | $475,783 | $0 |
| Total current assets | $15.5M | $14.8M | $14.8M | $12.7M | $13.7M | $14.5M | $500,067 |
| Property, plant & equipment (net) | $1.0M | $778,121 | $809,144 | $1.2M | $898,413 | $347,029 | $0 |
| Goodwill & intangible assets | $3.6M | $1.5M | $1.5M | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $31,023 | $31,023 | $0 | $1.9M | $0 | $0 | $37,500 |
| Total assets | $20.2M | $17.1M | $17.1M | $15.8M | $14.6M | $14.9M | $537,567 |
| Liabilities | |||||||
| Accounts payable | $2.8M | $2.8M | $2.8M | $2.1M | $1.5M | $677,253 | — |
| Short-term debt | $4.4M | $4.1M | — | $5.3M | $2.4M | $1.6M | — |
| Deferred revenue | $5.6M | $3.1M | — | $1.2M | $2.7M | $2.6M | — |
| Total current liabilities | $14.4M | $15.8M | $15.8M | $10.7M | $7.4M | $5.4M | $40,962 |
| Long-term debt | $0 | $287,000 | $4.7M | $3.3M | $1.4M | $2.0M | $0 |
| Lease obligations | — | $694,470 | $668,227 | $1.0M | $734,337 | $166,291 | — |
| Other long-term liabilities | $1.5M | $5.7M | $1.3M | $5.8M | $9.2M | $10.6M | $506,000 |
| Total liabilities | $15.9M | $21.8M | $21.8M | $19.7M | $18.0M | $18.0M | $546,962 |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $45 | $2,784 | — | $120 | $100 | $100 | $288 |
| Retained earnings (deficit) | −$41.1M | −$21.2M | −$21.2M | −$12.4M | −$2.1M | −$1.1M | −$59,395 |
| Accumulated other comprehensive income | — | — | — | −$1,662 | $0 | — | — |
| Total shareholders' equity | $4.3M | −$4.6M | −$4.6M | −$3.9M | −$3.4M | −$3.2M | −$9,395 |
| Key figures | |||||||
| Total debt | $5.9M | $9.1M | $4.7M | $9.3M | $4.3M | $3.6M | $500,000 |
| Net cash (debt) | $4.6M | $1.8M | $6.2M | −$3.5M | $5.3M | $7.1M | $67 |
| Working capital | $1.1M | −$982,237 | −$982,237 | $2.0M | $6.3M | $9.1M | $459,105 |
| Tangible book value | $666,722 | −$6.2M | −$6.2M | −$3.9M | −$3.4M | −$3.2M | −$9,395 |
| Book value per share | — | — | — | — | — | −$3.84 | −$0.01 |
| Shares outstanding | — | — | — | — | — | 822K | 822K |
| Current ratio | 1.07 | 0.94 | 0.94 | 1.19 | 1.85 | 2.68 | 12.21 |
| Quick ratio | 0.80 | 0.78 | 0.78 | 0.75 | 1.54 | 2.25 | 12.21 |
| Debt / equity | 1.37 | — | — | — | — | — | — |
| Equity / assets | 21.3% | −27.1% | −27.1% | −24.8% | −23.5% | −21.2% | −1.7% |
| 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 | $6.4M | $8.8M | $10.5M | $11.4M | $13.7M | $10.5M | $8.8M | $7.5M | $6.7M | $7.8M | $5.8M | $7.8M |
| Cash & equivalents | $6.4M | $8.8M | $10.5M | $11.4M | $8.1M | $10.5M | $8.8M | $7.5M | $6.7M | $7.8M | $3.3M | $5.5M |
| Short-term investments | — | — | — | — | $5.7M | — | $0 | $0 | $0 | $0 | $2.5M | $2.4M |
| Receivables | $1.3M | $1.3M | $1.1M | $2.2M | $2.2M | $1.6M | $1.4M | $4.5M | $2.6M | $1.9M | $2.2M | $2.1M |
| Inventory | $1.4M | $1.4M | $863,257 | $2.7M | $2.7M | $3.9M | $2.3M | $2.3M | $2.3M | $2.3M | $2.1M | $3.4M |
| Other current assets | $3.2M | $2.9M | $3.1M | $2.8M | $2.4M | $2.3M | $2.3M | $99,032 | $118,662 | $61,855 | $2.5M | $249,438 |
| Total current assets | $12.2M | $14.4M | $15.5M | $19.2M | $21.0M | $18.2M | $14.8M | $14.4M | $11.7M | $12.2M | $12.7M | $13.6M |
| Property, plant & equipment (net) | $901,910 | $962,170 | $1.0M | $610,602 | $666,388 | $738,626 | $778,121 | $883,655 | $955,376 | $1.1M | $1.2M | $1.3M |
| Goodwill & intangible assets | $4.9M | $4.2M | $3.6M | $3.2M | $2.7M | $1.7M | $1.5M | $1.7M | $1.3M | $363,879 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $31,023 | $31,023 | $31,023 | $31,023 | $31,023 | $31,023 | $31,023 | $74 | $31,057 | $1.9M | $1.9M | $2.0M |
| Total assets | $18.0M | $19.6M | $20.2M | $23.0M | $24.4M | $20.7M | $17.1M | $17.0M | $14.1M | $15.5M | $15.8M | $16.9M |
| Liabilities | ||||||||||||
| Accounts payable | $3.2M | $3.2M | $2.8M | $2.8M | $3.2M | $2.6M | $2.8M | $2.3M | $3.2M | $3.2M | $2.1M | $2.3M |
| Short-term debt | $3.6M | $5.3M | — | $5.6M | $7.4M | $4.0M | — | $5.5M | $3.1M | — | $5.3M | $4.7M |
| Deferred revenue | $5.2M | $6.6M | — | $6.2M | $5.0M | $4.1M | — | $5.2M | $1.8M | — | −$2.1M | $2.6M |
| Total current liabilities | $14.5M | $15.7M | $14.4M | $15.0M | $18.2M | $18.2M | $15.8M | $16.2M | $11.8M | $9.7M | $10.7M | $10.6M |
| Long-term debt | $268,500 | $268,500 | $287,000 | $507,216 | $628,232 | $5.8M | $4.7M | $5.1M | $6.7M | $9.2M | $0 | $3.9M |
| Lease obligations | $429,493 | $562,966 | $694,470 | $380,385 | $478,538 | $574,362 | $668,227 | $756,046 | $840,145 | $922,172 | — | $1.1M |
| Other long-term liabilities | $1.1M | $1.2M | $1.2M | $1.2M | $1.3M | $1.3M | $1.3M | $6.0M | $6.1M | $5.7M | $9.0M | $9.4M |
| Total liabilities | $15.9M | $17.1M | $15.9M | $16.7M | $20.0M | $25.3M | $21.8M | $27.3M | $24.6M | $24.6M | $19.7M | $23.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $158 | $65 | — | $209 | $100 | $3,090 | — | $1,189 | $1,326 | — | $120 | $109 |
| Retained earnings (deficit) | −$48.2M | −$44.5M | −$41.1M | −$36.8M | −$27.1M | −$23.8M | −$21.2M | −$15.3M | −$15.2M | −$13.7M | −$12.4M | −$10.1M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | $0 | — | −$1,662 | −$64,121 |
| Total shareholders' equity | $2.1M | $2.5M | $4.3M | $6.3M | $4.3M | −$4.6M | −$4.6M | −$10.2M | −$10.5M | −$9.1M | −$3.9M | −$7.0M |
| Key figures | ||||||||||||
| Total debt | $4.0M | $5.5M | $287,000 | $5.8M | $8.3M | $10.1M | $4.7M | $11.0M | $15.2M | $9.2M | $9.3M | $9.4M |
| Net cash (debt) | $2.4M | $3.4M | $10.2M | $5.6M | $5.4M | $394,542 | $4.1M | −$3.6M | −$8.6M | −$1.4M | −$3.5M | −$1.6M |
| Working capital | −$2.3M | −$1.3M | $1.1M | $4.2M | $2.8M | $29,551 | −$982,236 | −$1.7M | −$66,473 | $2.5M | $2.0M | $3.0M |
| Tangible book value | −$2.8M | −$1.7M | $666,722 | $3.1M | $1.6M | −$6.3M | −$6.2M | −$12.0M | −$11.9M | −$9.4M | −$3.9M | −$7.0M |
| Book value per share | — | — | $9.71 | — | $13.47 | −$13.27 | — | −$29.72 | −$30.54 | — | −$4.66 | −$9.43 |
| Shares outstanding | — | — | 443K | — | 320K | 344K | — | 344K | 344K | — | 841K | 744K |
| Current ratio | 0.84 | 0.92 | 1.07 | 1.28 | 1.16 | 1.00 | 0.94 | 0.89 | 0.99 | 1.25 | 1.19 | 1.28 |
| Quick ratio | 0.53 | 0.65 | 0.80 | 0.91 | 0.88 | 0.66 | 0.65 | 0.74 | 0.79 | 1.01 | 0.75 | 0.94 |
| Debt / equity | 1.95 | 2.18 | 0.07 | 0.93 | 1.93 | — | — | — | — | — | — | — |
| Equity / assets | 11.4% | 12.8% | 21.3% | 27.2% | 17.7% | −22.0% | −27.1% | −60.0% | −74.7% | −58.6% | −24.8% | −41.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 15, 2026); data from EODHD.
TRUG financial position
At the end of fiscal 2026 (September 30, 2026), TruGolf had total assets of $20.2 million (up 17.7% from a year earlier), total liabilities of $15.9 million and shareholders' equity of $4.3 million. It held $10.5 million in cash and short-term investments against $5.9 million of debt, a net cash position of $4.6 million. Its current ratio was 1.07.
Related: TRUG income statement, TRUG cash flow statement, TRUG key metrics. See the TRUG stock overview for the latest quote and news.
TRUG balance sheet FAQ
What are TruGolf's total assets?
TruGolf reported total assets of $20.2 million at the end of fiscal 2026 (September 30, 2026), compared with $17.1 million a year earlier.
How much debt does TruGolf have?
TruGolf had $5.9 million of total debt at the end of fiscal 2026, including short-term borrowings. Its debt-to-equity ratio was 1.37.
How much cash does TruGolf have?
TruGolf held $10.5 million in cash and short-term investments at the end of fiscal 2026; with $5.9 million of debt that is net cash of $4.6 million.
What is TruGolf's book value?
TruGolf's shareholders' equity (book value) was $4.3 million at the end of fiscal 2026.
What is TruGolf's current ratio?
TruGolf had current assets of $15.5 million and current liabilities of $14.4 million, a current ratio of 1.07 (it can cover its short-term obligations).
How much goodwill does TruGolf have?
TruGolf carried $3.6 million of goodwill and intangible assets, 18.0% of total assets, at the end of fiscal 2026.