Tennessee Valley Authority (TVE) Balance Sheet
TVE balance sheet, FY2025
September 30, 2025 · U.S. dollars$60.88B assets = $42.37B liabilities + $18.51B equity
Both columns are drawn to the same scale: what TVE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
TVE financial health
Descriptive bands, not a rating. Fiscal FY2025.
TVE balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $50.49BFY2016 | $60.88BFY2025 | +2.1%/yr | |
| Total liabilities | $42.07BFY2016 | $42.37BFY2025 | +0.1%/yr | |
| Shareholders’ equity | $8.42BFY2016 | $18.51BFY2025 | +9.1%/yr | |
| Cash & short-term investments | $300.0MFY2016 | $1.58BFY2025 | +20.2%/yr | |
| Total debt | $27.86BFY2016 | $25.08BFY2025 | −1.2%/yr | |
| Net cash (debt) | −$27.56BFY2016 | −$23.50BFY2025 | +$4.1B | |
| Working capital | −$2.22BFY2016 | −$430.0MFY2025 | +$1.8B | |
| Book value per share | $16,038.10FY2016 | $35,259.05FY2025 | +9.1%/yr | |
| Current ratio | 0.62FY2016 | 0.92FY2025 | +0.30 | |
| Debt / equity | 3.31FY2016 | 1.35FY2025 | −1.95 | |
| Shares outstanding | 525KFY2016 | 525KFY2025 | 0.0%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
TVE assets
TVE liabilities and equity
TVE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
TVE balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $1.58B | $502.0M | $501.0M | $500.0M | $499.0M | $500.0M | $299.0M | $299.0M | $300.0M | $300.0M |
| Cash & equivalents | $1.58B | $502.0M | $501.0M | $500.0M | $499.0M | $500.0M | $299.0M | $299.0M | $300.0M | $300.0M |
| Short-term investments | — | — | — | — | — | $3.20B | $464.0M | $220.0M | $226.0M | $196.0M |
| Receivables | $1.89B | $1.68B | $1.63B | $1.90B | $1.48B | $1.40B | $1.62B | $1.57B | $1.44B | $1.64B |
| Inventory | $1.26B | $1.20B | $1.14B | $1.09B | $950.0M | $1.00B | $999.0M | $961.0M | $1.06B | $993.0M |
| Other current assets | $445.0M | $388.0M | $402.0M | $485.0M | $569.0M | $342.0M | $356.0M | $587.0M | $640.0M | $714.0M |
| Total current assets | $5.18B | $3.77B | $3.67B | $3.97B | $3.50B | $3.25B | $3.28B | $3.42B | $3.45B | $3.64B |
| Property, plant & equipment (net) | $40.39B | $37.95B | $36.31B | $35.52B | $35.06B | $34.31B | $33.60B | $33.92B | $33.55B | $32.59B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $3.0M | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $15.31B | $15.98B | $11.36B | $11.69B | $13.89B | $15.27B | $13.59B | $11.32B | $13.03B | $14.26B |
| Total assets | $60.88B | $57.70B | $51.34B | $51.19B | $52.46B | $52.83B | $50.47B | $48.67B | $50.02B | $50.49B |
| Liabilities | ||||||||||
| Accounts payable | $2.49B | $2.31B | $2.18B | $2.18B | $1.93B | $1.48B | $1.37B | $1.54B | $1.46B | $1.74B |
| Short-term debt | $1.59B | $37.0M | $1.50B | $1.37B | $1.87B | $2.06B | $2.10B | $2.45B | $3.95B | $3.06B |
| Deferred revenue | — | — | — | −$1.21B | −$68.0M | −$198.0M | −$23.0M | $10.0M | $100.0M | $100.0M |
| Total current liabilities | $5.61B | $5.87B | $4.87B | $4.64B | $4.98B | $4.71B | $4.31B | $4.85B | $6.40B | $5.86B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $21.31B | $21.44B | $22.15B |
| Other long-term liabilities | $36.76B | $913.0M | $30.41B | $31.04B | $33.01B | $35.18B | $34.53B | $12.22B | $13.04B | $14.06B |
| Total liabilities | $42.37B | $40.54B | $35.29B | $35.68B | $37.99B | $39.89B | $38.84B | $38.38B | $40.88B | $42.07B |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $768.0M | $776.0M | $783.0M | $791.0M | $798.0M | $806.0M | $814.0M | $822.0M | $830.0M | $838.0M |
| Retained earnings (deficit) | $17.80B | $16.44B | $15.30B | $14.80B | $13.69B | $12.18B | $10.82B | $9.40B | $8.28B | $7.59B |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | −$54.0M | −$52.0M | −$29.0M | −$86.0M | −$22.0M | −$51.0M | −$12.0M | $57.0M | $21.0M | −$12.0M |
| Minority interest | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $18.51B | $17.16B | $16.06B | $15.51B | $14.46B | $12.93B | $11.62B | $10.28B | $9.13B | $8.42B |
| Key figures | ||||||||||
| Total debt | $25.08B | $934.0M | $21.63B | $21.80B | $22.73B | $23.79B | $24.53B | $25.50B | $27.40B | $27.86B |
| Net cash (debt) | −$23.50B | −$432.0M | −$21.13B | −$21.30B | −$22.23B | −$23.29B | −$24.23B | −$25.20B | −$27.10B | −$27.56B |
| Working capital | −$430.0M | −$2.10B | −$1.21B | −$671.0M | −$1.48B | −$1.47B | −$1.03B | −$1.44B | −$2.96B | −$2.22B |
| Tangible book value | $18.51B | $17.16B | $16.06B | $15.51B | $14.46B | $12.93B | $11.62B | $10.28B | $9.13B | $8.42B |
| Book value per share | $35,259.05 | $32,687.62 | $30,582.86 | $29,533.33 | $27,552.38 | $24,632.38 | $22,142.86 | $19,586.67 | $17,396.19 | $16,038.10 |
| Shares outstanding | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K |
| Current ratio | 0.92 | 0.64 | 0.75 | 0.86 | 0.70 | 0.69 | 0.76 | 0.70 | 0.54 | 0.62 |
| Quick ratio | 0.62 | 0.37 | 0.44 | 0.52 | 0.40 | 0.40 | 0.45 | 0.39 | 0.27 | 0.33 |
| Debt / equity | 1.35 | 0.05 | 1.35 | 1.41 | 1.57 | 1.84 | 2.11 | 2.48 | 3.00 | 3.31 |
| Equity / assets | 30.4% | 29.7% | 31.3% | 30.3% | 27.6% | 24.5% | 23.0% | 21.1% | 18.3% | 16.7% |
| 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 | $1.42B | $501.0M | $501.0M | $1.58B | $501.0M | $527.0M | $532.0M | $502.0M | $501.0M | $508.0M | $498.0M | $501.0M |
| Cash & equivalents | $1.42B | $501.0M | $501.0M | $1.58B | $501.0M | $527.0M | $532.0M | $502.0M | $501.0M | $508.0M | $498.0M | $501.0M |
| Receivables | $2.33B | $1.97B | $1.72B | $1.89B | $1.78B | $1.74B | $1.57B | $1.68B | $1.57B | $1.38B | $1.45B | $1.63B |
| Inventory | $1.26B | $0 | $1.31B | $1.26B | $1.24B | $1.18B | $1.24B | $1.20B | $1.23B | $1.18B | $1.23B | $1.14B |
| Other current assets | $422.0M | $243.0M | $484.0M | $445.0M | $375.0M | $485.0M | $367.0M | $388.0M | $381.0M | $398.0M | $498.0M | $402.0M |
| Total current assets | $5.43B | $2.71B | $4.01B | $5.18B | $3.89B | $3.93B | $3.71B | $3.77B | $3.69B | $3.47B | $3.68B | $3.67B |
| Property, plant & equipment (net) | $42.04B | $41.50B | $40.06B | $40.39B | $39.86B | $39.35B | $38.77B | $37.95B | $37.37B | $37.03B | $36.87B | $36.31B |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $14.17B | $14.06B | $15.44B | $15.31B | $16.14B | $16.02B | $15.89B | $15.98B | $15.14B | $11.84B | $11.70B | $11.36B |
| Total assets | $61.64B | $58.27B | $59.52B | $60.88B | $59.88B | $59.30B | $58.36B | $57.70B | $56.20B | $52.34B | $52.25B | $51.34B |
| Liabilities | ||||||||||||
| Accounts payable | $3.15B | $2.11B | $2.00B | $2.49B | $2.35B | $2.91B | $2.19B | $2.31B | $2.23B | $2.01B | $1.99B | $2.18B |
| Short-term debt | $1.59B | $1.35B | $1.17B | $1.59B | $319.0M | $2.86B | $3.91B | $37.0M | $3.24B | $1.90B | $2.22B | $1.50B |
| Deferred revenue | — | $41.0M | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $5.60B | $6.19B | $4.88B | $5.61B | $5.55B | $6.62B | $7.33B | $5.87B | $6.60B | $5.15B | $5.35B | $4.87B |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $36.56B | $34.59B | $35.85B | $36.76B | $36.43B | $35.00B | $33.73B | $913.0M | $32.94B | $30.70B | $30.71B | $30.41B |
| Total liabilities | $42.16B | $40.77B | $40.73B | $42.37B | $41.98B | $41.62B | $41.06B | $40.54B | $39.54B | $35.85B | $36.07B | $35.29B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $764.0M | $766.0M | $768.0M | $770.0M | $772.0M | $774.0M | $776.0M | $778.0M | $779.0M | $781.0M | $783.0M |
| Retained earnings (deficit) | $18.76B | $18.45B | $18.06B | $17.80B | $17.18B | $16.97B | $16.56B | $16.44B | $15.92B | $15.74B | $15.43B | $15.30B |
| Accumulated other comprehensive income | −$41.0M | −$51.0M | −$40.0M | −$54.0M | −$43.0M | −$52.0M | −$34.0M | −$52.0M | −$32.0M | −$26.0M | −$28.0M | −$29.0M |
| Total shareholders' equity | $19.48B | $19.19B | $18.79B | $18.51B | $17.91B | $17.69B | $17.30B | $17.16B | $16.66B | $16.49B | $16.18B | $16.06B |
| Key figures | ||||||||||||
| Total debt | $25.19B | $1.97B | $1.80B | $25.08B | $989.0M | $23.72B | $23.49B | $934.0M | $22.49B | $22.25B | $22.51B | $21.63B |
| Net cash (debt) | −$23.77B | −$1.46B | −$1.30B | −$23.50B | −$488.0M | −$23.19B | −$22.96B | −$432.0M | −$21.99B | −$21.75B | −$22.02B | −$21.13B |
| Working capital | −$169.0M | −$3.47B | −$865.0M | −$430.0M | −$1.66B | −$2.69B | −$3.62B | −$2.10B | −$2.91B | −$1.68B | −$1.68B | −$1.21B |
| Tangible book value | $19.48B | $19.19B | $18.79B | $18.51B | $17.91B | $17.69B | $17.30B | $17.16B | $16.66B | $16.49B | $16.18B | $16.06B |
| Book value per share | $37,110.48 | $36,548.57 | $35,788.57 | $35,259.05 | $34,112.38 | $33,695.24 | $32,956.19 | $32,687.62 | $31,739.05 | $31,407.62 | $30,822.86 | $30,582.86 |
| Shares outstanding | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K | 525K |
| Current ratio | 0.97 | 0.44 | 0.82 | 0.92 | 0.70 | 0.59 | 0.51 | 0.64 | 0.56 | 0.67 | 0.69 | 0.75 |
| Quick ratio | 0.67 | 0.40 | 0.46 | 0.62 | 0.41 | 0.34 | 0.29 | 0.37 | 0.31 | 0.37 | 0.36 | 0.44 |
| Debt / equity | 1.29 | 0.10 | 0.10 | 1.35 | 0.06 | 1.34 | 1.36 | 0.05 | 1.35 | 1.35 | 1.39 | 1.35 |
| Equity / assets | 31.6% | 32.9% | 31.6% | 30.4% | 29.9% | 29.8% | 29.6% | 29.7% | 29.6% | 31.5% | 31.0% | 31.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed November 13, 2025); data from EODHD.
TVE financial position
At the end of fiscal 2025 (September 30, 2025), Tennessee Valley Authority had total assets of $60.9 billion (up 5.5% from a year earlier), total liabilities of $42.4 billion and shareholders' equity of $18.5 billion. It held $1.6 billion in cash and short-term investments against $25.1 billion of debt, net debt of $23.5 billion. Its current ratio was 0.92. In the latest quarter (ended June 30, 2026) total assets were $61.6 billion and equity $19.5 billion.
Related: TVE income statement, TVE cash flow statement, TVE key metrics. See the TVE stock overview for the latest quote and news.
TVE balance sheet FAQ
What are Tennessee Valley Authority's total assets?
Tennessee Valley Authority reported total assets of $60.9 billion at the end of fiscal 2025 (September 30, 2025), compared with $57.7 billion a year earlier.
How much debt does Tennessee Valley Authority have?
Tennessee Valley Authority had $25.1 billion of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 1.35.
How much cash does Tennessee Valley Authority have?
Tennessee Valley Authority held $1.6 billion in cash and short-term investments at the end of fiscal 2025; with $25.1 billion of debt that is net debt of $23.5 billion.
What is Tennessee Valley Authority's book value?
Tennessee Valley Authority's shareholders' equity (book value) was $18.5 billion at the end of fiscal 2025, or $35,259.05 per share.
What is Tennessee Valley Authority's current ratio?
Tennessee Valley Authority had current assets of $5.2 billion and current liabilities of $5.6 billion, a current ratio of 0.92 (current liabilities exceed current assets).