USBC, Inc. (USBC) Balance Sheet
USBC balance sheet, FY2025
September 30, 2025 · U.S. dollars$125.1M assets = $28.0M liabilities + $97.1M equity
Both columns are drawn to the same scale: what USBC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
USBC financial health
Descriptive bands, not a rating. Fiscal FY2025.
USBC balance sheet trends, FY2016–FY2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $2.6MFY2016 | $125.1MFY2025 | +53.6%/yr | |
| Total liabilities | $5.4MFY2016 | $28.0MFY2025 | +19.9%/yr | |
| Shareholders’ equity | −$2.8MFY2016 | $97.1MFY2025 | — | |
| Cash & short-term investments | $188,309FY2016 | $8.8MFY2025 | +53.3%/yr | |
| Total debt | $2.1MFY2016 | $342,791FY2025 | −18.2%/yr | |
| Net cash (debt) | −$1.9MFY2016 | $8.5MFY2025 | +$10.4M | |
| Working capital | −$4.1MFY2016 | $6.0MFY2025 | +$10.1M | |
| Current ratio | 0.24FY2016 | 2.61FY2025 | +2.37 | |
| Debt / equity | 7.98FY2021 | 0.00FY2025 | −7.98 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
USBC assets
USBC liabilities and equity
USBC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
USBC balance sheet
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $8.8M | $3.1M | $8.0M | $12.6M | $12.3M | $4.3M | $1.9M | $934,407 | $103,181 | $188,309 |
| Cash & equivalents | $8.8M | $3.1M | $8.0M | $12.6M | $12.3M | $4.3M | $1.9M | $934,407 | $103,181 | $188,309 |
| Receivables | $0 | $0 | $0 | $0 | $0 | $0 | $63,048 | $320,538 | $693,320 | $808,955 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $7,103 | $203,582 | $225,909 | $295,218 |
| Other current assets | $936,200 | $0 | $0 | $0 | $0 | $0 | $6,436 | $20,140 | $27,687 | $20,483 |
| Total current assets | $9.8M | $3.1M | $8.0M | $12.6M | $12.3M | $4.3M | $2.0M | $1.5M | $1.1M | $1.3M |
| Property, plant & equipment (net) | $253,904 | $404,499 | $226,415 | $1.2M | $617,506 | $257,674 | $373,998 | $169,333 | $133,204 | $285,415 |
| Goodwill & intangible assets | $115.0M | $0 | $0 | $0 | $0 | $101,114 | $274,446 | $447,778 | $0 | $1.0M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $24,174 | $149,174 | $15,766 | $13,767 | $13,767 | $25,180 | $13,766 | $7,170 | $5,070 | $5,070 |
| Total assets | $125.1M | $3.7M | $8.3M | $13.8M | $12.9M | $4.7M | $2.6M | $2.1M | $1.2M | $2.6M |
| Liabilities | ||||||||||
| Accounts payable | $1.8M | $552,680 | $1.3M | $526,968 | $419,093 | $493,497 | $817,991 | $1.5M | $2.2M | $2.0M |
| Short-term debt | $170,546 | $4.4M | $2.9M | $2.5M | $9.7M | $4.3M | $4.1M | $2.4M | $1.7M | $2.1M |
| Deferred revenue | — | — | — | — | — | — | — | $55,959 | $63,902 | — |
| Total current liabilities | $3.7M | $5.2M | $4.5M | $3.8M | $11.5M | $6.6M | $5.8M | $4.7M | $5.1M | $5.4M |
| Long-term debt | $0 | $407,522 | $0 | $0 | $431,803 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $254,363 | $358,288 | $154,797 | $302,515 | $290,541 | — | — | — | — | — |
| Other long-term liabilities | $24.2M | $249,728 | $0 | $87,117 | $0 | $23,255 | $121,612 | $0 | $0 | $0 |
| Total liabilities | $28.0M | $5.8M | $4.5M | $3.9M | $11.6M | $6.6M | $5.9M | $4.7M | $5.1M | $5.4M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $388,144 | $108,021 | $80,358 | $48,158 | $35,168 | $24,807 | $18,366 | $17,532 | $4,655 | $2,356 |
| Retained earnings (deficit) | −$163.1M | −$138.7M | −$121.8M | −$101.4M | −$81.3M | −$56.0M | −$42.4M | −$34.8M | −$31.5M | −$27.1M |
| Total shareholders' equity | $97.1M | −$2.2M | $3.7M | $9.9M | $1.2M | −$1.9M | −$3.3M | −$2.6M | −$4.0M | −$2.8M |
| Key figures | ||||||||||
| Total debt | $342,791 | $5.1M | $2.9M | $2.6M | $9.9M | $4.3M | $4.2M | $2.4M | $1.7M | $2.1M |
| Net cash (debt) | $8.5M | −$2.0M | $5.1M | $10.0M | $2.3M | −$27,604 | −$2.3M | −$1.5M | −$1.6M | −$1.9M |
| Working capital | $6.0M | −$2.1M | $3.5M | $8.8M | $789,060 | −$2.3M | −$3.8M | −$3.2M | −$4.1M | −$4.1M |
| Tangible book value | −$17.9M | −$2.2M | $3.7M | $9.9M | $1.2M | −$2.0M | −$3.6M | −$3.1M | −$4.0M | −$3.8M |
| Current ratio | 2.61 | 0.60 | 1.77 | 3.31 | 1.07 | 0.65 | 0.34 | 0.31 | 0.20 | 0.24 |
| Quick ratio | 2.36 | 0.60 | 1.77 | 3.31 | 1.07 | 0.65 | 0.34 | 0.27 | 0.15 | 0.18 |
| Debt / equity | 0.00 | — | 0.78 | 0.26 | 7.98 | — | — | — | — | — |
| Equity / assets | 77.6% | −58.8% | 45.3% | 71.7% | 9.6% | −40.9% | −124.9% | −124.0% | −333.3% | −106.8% |
| 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 | $3.0M | $2.0M | $4.1M | $8.8M | $172,503 | $443,913 | $1.0M | $3.1M | $2.1M | $4.7M | $4.8M | $8.0M |
| Cash & equivalents | $3.0M | $2.0M | $4.1M | $8.8M | $172,503 | $443,913 | $1.0M | $3.1M | $2.1M | $4.7M | $4.8M | $8.0M |
| Receivables | $48.5M | $894.9M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $0 | $0 | $2.7M | $936,200 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total current assets | $4.6M | $3.4M | $6.8M | $9.8M | $172,503 | $443,913 | $1.0M | $3.1M | $2.1M | $4.7M | $4.8M | $8.0M |
| Property, plant & equipment (net) | $0 | $154,888 | $215,447 | $253,904 | $295,890 | $331,098 | $365,924 | $404,499 | $453,010 | $64,830 | $172,865 | $226,415 |
| Goodwill & intangible assets | $0 | $68.7M | $86.6M | $115.0M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $58.1M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.8M | $24,174 | $24,174 | $24,174 | $24,174 | $149,174 | $149,174 | $149,174 | $159,244 | $163,628 | $18,767 | $15,766 |
| Total assets | $66.5M | $72.3M | $93.7M | $125.1M | $492,567 | $924,185 | $1.5M | $3.7M | $2.7M | $4.9M | $5.0M | $8.3M |
| Liabilities | ||||||||||||
| Accounts payable | $3.1M | $2.9M | $2.0M | $1.8M | $890,020 | $1.1M | $889,009 | $552,680 | $1.3M | $1.0M | $627,058 | $1.3M |
| Short-term debt | $15.1M | $5.1M | $84,712 | $170,546 | $3.7M | $5.1M | $4.1M | $4.4M | $4.6M | $3.8M | $2.9M | $2.9M |
| Total current liabilities | $20.0M | $10.7M | $3.7M | $3.7M | $5.1M | $6.6M | $5.2M | $5.2M | $6.1M | $5.1M | $3.8M | $4.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $44,843 | $407,522 | $945,258 | $0 | $0 | $0 |
| Lease obligations | $193,901 | $214,834 | $234,818 | $254,363 | $280,715 | $287,214 | $328,156 | $358,288 | $386,367 | — | — | — |
| Other long-term liabilities | $103,818 | $1.7M | $8.5M | $24.2M | $152,744 | $174,273 | $218,196 | $249,728 | $280,714 | $1.6M | $0 | $0 |
| Total liabilities | $20.1M | $12.4M | $12.1M | $28.0M | $5.3M | $6.8M | $5.5M | $5.8M | $7.3M | $6.7M | $3.8M | $4.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $388,144 | $388,144 | $388,144 | $388,144 | $117,058 | $113,101 | $111,089 | $108,021 | $86,369 | $82,512 | $81,347 | $80,358 |
| Retained earnings (deficit) | −$236.9M | −$216.1M | −$190.5M | −$163.1M | −$150.7M | −$147.0M | −$143.4M | −$138.7M | −$135.1M | −$130.8M | −$125.4M | −$121.8M |
| Total shareholders' equity | $46.4M | $59.9M | $81.5M | $97.1M | −$4.8M | −$5.9M | −$3.9M | −$2.2M | −$4.6M | −$1.8M | $1.2M | $3.7M |
| Key figures | ||||||||||||
| Total debt | $15.2M | $5.2M | $234,818 | $342,791 | $3.9M | $5.3M | $4.4M | $5.1M | $5.9M | $5.5M | $2.9M | $2.9M |
| Net cash (debt) | −$12.2M | −$3.2M | $3.9M | $8.5M | −$3.7M | −$4.8M | −$3.3M | −$2.0M | −$3.7M | −$754,056 | $2.0M | $5.1M |
| Working capital | −$15.4M | −$7.3M | $3.1M | $6.0M | −$5.0M | −$6.2M | −$4.2M | −$2.1M | −$4.0M | −$352,846 | $1.0M | $3.5M |
| Tangible book value | $46.4M | −$8.8M | −$5.1M | −$17.9M | −$4.8M | −$5.9M | −$3.9M | −$2.2M | −$4.6M | −$1.8M | $1.2M | $3.7M |
| Book value per share | $0.12 | $0.15 | $0.21 | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 388.1M | 388.1M | 388.1M | — | — | — | — | — | — | — | — | — |
| Current ratio | 0.23 | 0.32 | 1.85 | 2.61 | 0.03 | 0.07 | 0.20 | 0.60 | 0.35 | 0.93 | 1.27 | 1.77 |
| Quick ratio | 2.57 | 84.00 | 1.11 | 2.36 | 0.03 | 0.07 | 0.20 | 0.60 | 0.35 | 0.93 | 1.27 | 1.77 |
| Debt / equity | 0.33 | 0.09 | 0.00 | 0.00 | — | — | — | — | — | — | 2.34 | 0.78 |
| Equity / assets | 69.8% | 82.9% | 87.0% | 77.6% | −972.9% | −636.6% | −253.0% | −58.8% | −167.8% | −35.5% | 24.5% | 45.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 19, 2025); data from EODHD.
USBC financial position
At the end of fiscal 2025 (September 30, 2025), USBC had total assets of $125.1 million (up 3,313.3% from a year earlier), total liabilities of $28.0 million and shareholders' equity of $97.1 million. It held $8.8 million in cash and short-term investments against $0.3 million of debt, a net cash position of $8.5 million. Its current ratio was 2.61. In the latest quarter (ended June 30, 2026) total assets were $66.5 million and equity $46.4 million.
Related: USBC income statement, USBC cash flow statement, USBC key metrics. See the USBC stock overview for the latest quote and news.
USBC balance sheet FAQ
What are USBC's total assets?
USBC reported total assets of $125.1 million at the end of fiscal 2025 (September 30, 2025), compared with $3.7 million a year earlier.
How much debt does USBC have?
USBC had $0.3 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.00.
How much cash does USBC have?
USBC held $8.8 million in cash and short-term investments at the end of fiscal 2025; with $0.3 million of debt that is net cash of $8.5 million.
What is USBC's book value?
USBC's shareholders' equity (book value) was $97.1 million at the end of fiscal 2025.
What is USBC's current ratio?
USBC had current assets of $9.8 million and current liabilities of $3.7 million, a current ratio of 2.61 (it can cover its short-term obligations).
How much goodwill does USBC have?
USBC carried $115.0 million of goodwill and intangible assets, 92.0% of total assets, at the end of fiscal 2025.