USA Compression Partners, LP (USAC) Balance Sheet
USAC balance sheet, 2025
December 31, 2025 · U.S. dollars$2.62B assets = $2.73B liabilities + −$112.5M equity
Liabilities exceed assets: shareholders’ equity is negative (−$112.5M).
Both columns are drawn to the same scale: what USAC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
USAC financial health
Descriptive bands, not a rating. Fiscal 2025.
USAC balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.47B2016 | $2.62B2025 | +6.6%/yr | |
| Total liabilities | $742.9M2016 | $2.73B2025 | +15.6%/yr | |
| Shareholders’ equity | $729.5M2016 | −$112.5M2025 | — | |
| Cash & short-term investments | $65,0002016 | $8.6M2025 | +72.0%/yr | |
| Total debt | $685.4M2016 | $2.55B2025 | +15.7%/yr | |
| Net cash (debt) | −$685.3M2016 | −$2.54B2025 | −$1.9B | |
| Working capital | $16.6M2016 | $49.7M2025 | +$33.1M | |
| Book value per share | $13.242016 | −$0.932025 | — | |
| Current ratio | 1.292016 | 1.272025 | −0.03 | |
| Debt / equity | 0.942016 | 90.782024 | +89.84 | |
| Shares outstanding | 55.1M2016 | 121.3M2025 | +9.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
USAC assets
USAC liabilities and equity
USAC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
USAC balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.6M | $14,000 | $11,000 | $35,000 | −$18.6M | $2,000 | $10,000 | $99,000 | $47,000 | $65,000 |
| Cash & equivalents | $8.6M | $14,000 | $11,000 | $35,000 | −$18.6M | $2,000 | $10,000 | $99,000 | $47,000 | $65,000 |
| Short-term investments | — | — | $5.7M | — | — | — | — | — | $0 | $0 |
| Receivables | $82.5M | $89.1M | $95.4M | $83.9M | $68.3M | $66.8M | $136.8M | $127.0M | $40.6M | $41.3M |
| Inventory | $134.5M | $133.9M | $114.7M | $93.8M | $85.8M | $84.6M | $91.9M | $89.0M | $33.4M | $29.6M |
| Other current assets | $11.0M | $12.0M | $16.3M | $8.8M | $69.5M | $48.2M | $2.2M | $1.6M | $2.8M | $2.1M |
| Total current assets | $236.6M | $235.0M | $226.4M | $186.4M | $205.0M | $199.6M | $230.9M | $217.7M | $76.9M | $73.0M |
| Property, plant & equipment (net) | $2.18B | $2.29B | $2.25B | $2.19B | $2.24B | $2.40B | $2.50B | $2.52B | $1.29B | $1.27B |
| Goodwill & intangible assets | $186.9M | $216.3M | $245.7M | $275.0M | $304.4M | $333.8M | $982.6M | $1.01B | $107.5M | $111.1M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $6.9M | $10.6M | $14.1M |
| Other non-current assets | $20.1M | $6.6M | $9.7M | $13.1M | $16.1M | $12.0M | $15.6M | $16.5M | $4.5M | $6.7M |
| Total assets | $2.62B | $2.75B | $2.74B | $2.67B | $2.77B | $2.95B | $3.73B | $3.77B | $1.49B | $1.47B |
| Liabilities | ||||||||||
| Accounts payable | $28.1M | $27.2M | $39.8M | $35.3M | $22.5M | $13.5M | $21.7M | $24.2M | $20.0M | $13.1M |
| Short-term debt | $4.8M | $4.4M | $4.5M | $4.1M | $3.7M | $3.6M | $3.2M | — | $782.9M | $685.4M |
| Deferred revenue | $65.0M | $63.9M | $62.6M | $62.3M | $51.2M | $47.2M | $48.3M | $31.4M | $27.5M | $16.7M |
| Total current liabilities | $186.9M | $190.7M | $187.5M | $173.7M | $187.6M | $170.3M | $189.4M | $149.6M | $73.8M | $56.4M |
| Long-term debt | $2.52B | $2.50B | $2.34B | $2.11B | $1.97B | $1.93B | $1.85B | $1.76B | $782.9M | $685.4M |
| Lease obligations | $10.7M | $11.7M | $14.7M | $16.1M | $18.6M | $21.2M | $17.3M | — | — | — |
| Other long-term liabilities | $21.5M | $24.6M | $30.1M | $24.4M | $28.7M | $36.5M | $30.8M | $9.8M | $1.6M | $1.1M |
| Total liabilities | $2.73B | $2.72B | $2.55B | $2.30B | $2.19B | $2.13B | $2.07B | $1.92B | $858.2M | $742.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | −$112.5M | −$141.1M | — | −$125.1M | $87.1M | $323.7M | $1.17B | $1.36B | $1.66B | $721.1M |
| Retained earnings (deficit) | — | — | — | −$18.4M | −$578.4M | −$815.0M | −$1.66B | −$2.66B | $0 | $0 |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | — | $8.8M | $14.0M | $14.0M | $14.0M | −$821.5M | −$689.9M | −$328.0M |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | −$112.5M | $27.8M | $183.0M | $361.0M | $578.4M | $815.0M | $1.66B | −$821.5M | $633.9M | $729.5M |
| Key figures | ||||||||||
| Total debt | $2.55B | $2.52B | $2.35B | $2.13B | $2.00B | $1.95B | $1.87B | $1.76B | $782.9M | $685.4M |
| Net cash (debt) | −$2.54B | −$2.52B | −$2.35B | −$2.13B | −$2.01B | −$1.95B | −$1.87B | −$1.76B | −$782.9M | −$685.3M |
| Working capital | $49.7M | $44.3M | $38.9M | $12.8M | $17.3M | $29.3M | $41.5M | $68.1M | $3.1M | $16.6M |
| Tangible book value | −$299.4M | −$188.5M | −$62.6M | $86.0M | $274.0M | $481.2M | $675.3M | −$1.83B | $526.3M | $618.5M |
| Book value per share | −$0.93 | $0.24 | $1.82 | $3.69 | $5.96 | $8.42 | $17.16 | −$7.52 | $10.25 | $13.24 |
| Shares outstanding | 121.3M | 114.5M | 100.7M | 97.8M | 97.1M | 96.8M | 96.6M | 109.3M | 61.8M | 55.1M |
| Current ratio | 1.27 | 1.23 | 1.21 | 1.07 | 1.09 | 1.17 | 1.22 | 1.46 | 1.04 | 1.29 |
| Quick ratio | 0.49 | 0.47 | 0.51 | 0.48 | 0.26 | 0.39 | 0.72 | 0.85 | 0.55 | 0.73 |
| Debt / equity | — | 90.78 | 12.84 | 5.89 | 3.45 | 2.40 | 1.13 | — | 1.24 | 0.94 |
| Equity / assets | −4.3% | 1.0% | 6.7% | 13.5% | 20.9% | 27.6% | 44.4% | −21.8% | 42.5% | 49.5% |
| 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 | $9.5M | $14.5M | $8.6M | $0 | $2,000 | $2,000 | $14,000 | $79,000 | $9,000 | $8,000 | $11,000 | $6,000 |
| Cash & equivalents | $9.5M | $14.5M | $8.6M | $0 | $2,000 | $2,000 | $14,000 | $79,000 | $9,000 | $8,000 | $11,000 | $6,000 |
| Short-term investments | — | — | — | — | — | — | — | — | $14.4M | $11.4M | $5.7M | $10.7M |
| Receivables | $139.4M | $162.9M | $82.5M | $103.9M | $98.5M | $97.4M | $89.1M | $99.1M | $106.2M | $101.7M | $95.4M | $97.3M |
| Inventory | $159.4M | $154.4M | $134.5M | $137.4M | $135.6M | $134.3M | $133.9M | $146.8M | $131.3M | $129.3M | $114.7M | $106.5M |
| Other current assets | $14.7M | $15.1M | $11.0M | $10.3M | $10.9M | $11.6M | $12.0M | $16.4M | $18.3M | $17.8M | $16.3M | $19.9M |
| Total current assets | $323.0M | $346.8M | $236.6M | $251.6M | $245.0M | $243.3M | $235.0M | $262.4M | $255.8M | $248.8M | $226.4M | $223.7M |
| Property, plant & equipment (net) | $3.05B | $3.07B | $2.18B | $2.20B | $2.21B | $2.25B | $2.29B | $2.31B | $2.32B | $2.31B | $2.25B | $2.22B |
| Goodwill & intangible assets | $294.2M | $302.0M | $186.9M | $194.2M | $201.6M | $208.9M | $216.3M | $223.6M | $231.0M | $238.3M | $245.7M | $253.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $19.2M | $20.0M | $20.1M | $18.2M | $9.7M | $9.4M | $6.6M | $10.3M | $10.0M | $9.3M | $9.7M | $14.1M |
| Total assets | $3.69B | $3.73B | $2.62B | $2.66B | $2.67B | $2.71B | $2.75B | $2.80B | $2.82B | $2.80B | $2.74B | $2.71B |
| Liabilities | ||||||||||||
| Accounts payable | $52.7M | $52.1M | $28.1M | $41.5M | $27.4M | $30.1M | $27.2M | $31.6M | $35.7M | $34.3M | $39.8M | $37.0M |
| Short-term debt | — | — | $4.8M | — | — | — | $4.4M | — | $1 | — | $4.5M | — |
| Deferred revenue | $74.6M | $81.2M | $65.0M | $64.9M | $64.9M | $63.8M | $63.9M | $67.9M | $65.7M | $65.5M | $62.6M | $63.1M |
| Total current liabilities | $240.1M | $224.2M | $186.9M | $184.8M | $192.9M | $166.0M | $190.7M | $183.1M | $204.6M | $173.7M | $187.5M | $177.7M |
| Long-term debt | $2.94B | $2.98B | $2.52B | $2.53B | $2.50B | $2.54B | $2.50B | $2.53B | $2.48B | $2.46B | $2.34B | $2.28B |
| Lease obligations | $15.4M | $13.7M | $10.7M | $11.4M | $11.6M | $10.9M | $11.7M | $12.6M | $13.4M | $13.9M | $14.7M | $15.1M |
| Other long-term liabilities | $216.2M | $213.2M | $21.5M | $21.9M | $22.8M | $22.9M | $24.6M | $26.5M | $25.3M | $26.1M | $30.1M | $25.6M |
| Total liabilities | $3.40B | $3.42B | $2.73B | $2.74B | $2.72B | $2.73B | $2.72B | $2.74B | $2.71B | $2.66B | $2.55B | $2.48B |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | — | $316.7M | −$112.5M | −$150.2M | −$121.4M | −$180.7M | −$141.1M | — | −$61.2M | −$289.6M | — | −$259.4M |
| Retained earnings (deficit) | — | — | — | — | — | — | — | — | $350.7M | $582.9M | — | −$226.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | −$289.6M | −$293.3M | — | $8.8M |
| Total shareholders' equity | $287.1M | $316.7M | −$112.5M | −$76.8M | −$48.0M | −$11.9M | $27.8M | $61.6M | $107.6M | $141.8M | $183.0M | $226.7M |
| Key figures | ||||||||||||
| Total debt | $2.96B | $2.99B | $2.55B | $2.54B | $2.52B | $2.55B | $2.52B | $2.54B | $2.50B | $2.48B | $2.35B | $2.29B |
| Net cash (debt) | −$2.95B | −$2.98B | −$2.54B | −$2.54B | −$2.52B | −$2.55B | −$2.52B | −$2.54B | −$2.50B | −$2.48B | −$2.35B | −$2.29B |
| Working capital | $82.9M | $122.6M | $49.7M | $66.8M | $52.1M | $77.3M | $44.3M | $79.2M | $51.2M | $75.1M | $38.9M | $46.0M |
| Tangible book value | −$7.1M | $14.7M | −$299.4M | −$271.1M | −$249.6M | −$220.8M | −$188.5M | −$162.1M | −$123.3M | −$96.5M | −$62.6M | −$26.3M |
| Book value per share | $1.97 | $2.21 | −$0.91 | −$0.62 | −$0.40 | −$0.10 | $0.24 | $0.52 | $0.91 | $1.37 | $1.78 | $2.26 |
| Shares outstanding | 145.6M | 143.1M | 124.2M | 123.1M | 119.5M | 118.3M | 118.1M | 118.3M | 118.0M | 103.6M | 102.9M | 100.3M |
| Current ratio | 1.35 | 1.55 | 1.27 | 1.36 | 1.27 | 1.47 | 1.23 | 1.43 | 1.25 | 1.43 | 1.21 | 1.26 |
| Quick ratio | 0.62 | 0.79 | 0.49 | 0.56 | 0.51 | 0.59 | 0.47 | 0.54 | 0.52 | 0.59 | 0.51 | 0.55 |
| Debt / equity | 10.30 | 9.45 | — | — | — | — | 90.78 | 41.35 | 23.20 | 17.46 | 12.84 | 10.11 |
| Equity / assets | 7.8% | 8.5% | −4.3% | −2.9% | −1.8% | −0.4% | 1.0% | 2.2% | 3.8% | 5.1% | 6.7% | 8.4% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 17, 2026); data from EODHD.
USAC financial position
At the end of fiscal 2025 (December 31, 2025), USA Compression Partners had total assets of $2.6 billion (down 4.6% from a year earlier), total liabilities of $2.7 billion and shareholders' equity of -$112.5 million. It held $8.6 million in cash and short-term investments against $2.6 billion of debt, net debt of $2.5 billion. Its current ratio was 1.27. In the latest quarter (ended June 30, 2026) total assets were $3.7 billion and equity $287.1 million.
Related: USAC income statement, USAC cash flow statement, USAC key metrics. See the USAC stock overview for the latest quote and news.
USAC balance sheet FAQ
What are USA Compression Partners's total assets?
USA Compression Partners reported total assets of $2.6 billion at the end of fiscal 2025 (December 31, 2025), compared with $2.7 billion a year earlier.
How much debt does USA Compression Partners have?
USA Compression Partners had $2.6 billion 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 USA Compression Partners have?
USA Compression Partners held $8.6 million in cash and short-term investments at the end of fiscal 2025; with $2.6 billion of debt that is net debt of $2.5 billion.
What is USA Compression Partners's book value?
USA Compression Partners's shareholders' equity (book value) was -$112.5 million at the end of fiscal 2025, or −$0.93 per share.
What is USA Compression Partners's current ratio?
USA Compression Partners had current assets of $236.6 million and current liabilities of $186.9 million, a current ratio of 1.27 (it can cover its short-term obligations).
How much goodwill does USA Compression Partners have?
USA Compression Partners carried $186.9 million of goodwill and intangible assets, 7.1% of total assets, at the end of fiscal 2025.