Wah Fu Education Group Limited (WAFU) Balance Sheet
WAFU balance sheet, FY2026
March 31, 2026 · U.S. dollars$14.4M assets = $3.2M liabilities + $11.3M equity
Both columns are drawn to the same scale: what WAFU owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WAFU financial health
Descriptive bands, not a rating. Fiscal FY2026.
WAFU balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.3MFY2017 | $14.4MFY2026 | +7.9%/yr | |
| Total liabilities | $1.0MFY2017 | $3.2MFY2026 | +13.2%/yr | |
| Shareholders’ equity | $6.2MFY2017 | $10.0MFY2026 | +5.6%/yr | |
| Cash & short-term investments | $5.6MFY2017 | $9.0MFY2026 | +5.4%/yr | |
| Total debt | $0FY2017 | $187,935FY2026 | — | |
| Net cash (debt) | $5.6MFY2017 | $8.8MFY2026 | +$3.2M | |
| Working capital | $5.6MFY2017 | $9.6MFY2026 | +$4.1M | |
| Book value per share | $1.18FY2017 | $2.27FY2026 | +7.5%/yr | |
| Current ratio | 6.37FY2017 | 4.12FY2026 | −2.25 | |
| Debt / equity | 0.00FY2017 | 0.02FY2026 | +0.02 | |
| Shares outstanding | 5.2MFY2017 | 4.4MFY2026 | −1.8%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WAFU assets
WAFU liabilities and equity
WAFU debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WAFU balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $9.0M | $10.1M | $11.0M | $12.6M | $11.8M | $12.1M | $6.8M | $3.9M | $4.7M | $5.6M |
| Cash & equivalents | $9.0M | $10.1M | $11.0M | $12.6M | $11.8M | $12.1M | $6.8M | $3.9M | $4.7M | $5.6M |
| Short-term investments | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Receivables | $3.6M | $4.0M | $3.5M | $3.4M | $4.3M | $2.8M | $3.3M | $2.3M | $2.1M | $972,951 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $417,100 | $7,732 | $8,803 |
| Other current assets | $85,231 | $94,948 | $95,583 | $69,104 | $90,630 | $139,940 | $150,213 | $146,058 | $1.4M | $28,299 |
| Total current assets | $12.7M | $14.2M | $14.7M | $16.0M | $16.2M | $15.0M | $10.3M | $6.8M | $8.2M | $6.6M |
| Property, plant & equipment (net) | $598,591 | $552,292 | $827,555 | $886,444 | $869,424 | $1.1M | $1.4M | $868,802 | $667,017 | $193,376 |
| Goodwill & intangible assets | $0 | $0 | $7,456 | $54,382 | $137,993 | $0 | $0 | $313,330 | $29,760 | $0 |
| Long-term investments | $129,127 | $137,804 | $138,498 | $0 | $12,277 | $11,879 | $10,977 | $283,113 | $384,183 | $346,682 |
| Other non-current assets | $996,226 | $530,067 | $510,109 | $601,725 | $781,912 | $797,196 | $924,499 | $179,540 | $317,382 | $139,403 |
| Total assets | $14.4M | $15.4M | $16.2M | $17.5M | $18.0M | $17.0M | $12.6M | $8.5M | $9.6M | $7.3M |
| Liabilities | ||||||||||
| Accounts payable | $147,909 | $154,256 | $210,348 | $233,473 | $108,730 | — | — | $2.3M | $0 | $0 |
| Short-term debt | $114,954 | $117,711 | $260,283 | $210,274 | $136,467 | $256,600 | $254,332 | $0 | $0 | $0 |
| Deferred revenue | $1.1M | $1.6M | $1.8M | $2.1M | $4.0M | $4.1M | $1.5M | $620,332 | $341,436 | $518,704 |
| Total current liabilities | $3.1M | $3.7M | $3.9M | $4.3M | $6.0M | $6.1M | $2.9M | $1.8M | $1.4M | $1.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $187,935 | $132,250 | $333,258 | $413,445 | $142,530 | $362,472 | $615,927 | $0 | $0 | $0 |
| Other long-term liabilities | $72,980 | $29,419 | $72,975 | $203,171 | $6,063 | $105,872 | $361,595 | $211,350 | $217,600 | $0 |
| Total liabilities | $3.2M | $3.7M | $4.0M | $4.5M | $6.0M | $6.2M | $3.3M | $1.8M | $1.4M | $1.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $44,106 | $29,226 | $44,106 | $44,401 | $44,401 | $43,810 | $43,810 | $32,000 | $32,000 | $32,000 |
| Retained earnings (deficit) | $4.8M | $5.9M | $6.4M | $6.4M | $5.7M | $5.3M | $4.7M | $6.4M | $7.4M | $6.4M |
| Treasury stock | — | — | — | — | — | — | — | $0 | $0 | $0 |
| Accumulated other comprehensive income | $57,417 | −$368,844 | −$381,117 | $115,139 | $656,139 | $45,640 | −$502,604 | −$184,989 | $333,016 | −$480,662 |
| Minority interest | $1.3M | $1.1M | $1.0M | $1.3M | — | — | — | $0 | $0 | $0 |
| Total shareholders' equity | $10.0M | $10.7M | $11.1M | $11.7M | $11.2M | $10.2M | $9.1M | $6.5M | $8.0M | $6.2M |
| Key figures | ||||||||||
| Total debt | $187,935 | $132,250 | $333,258 | $413,445 | $142,530 | $362,472 | $615,927 | $0 | $0 | $0 |
| Net cash (debt) | $8.8M | $10.0M | $10.7M | $12.2M | $11.6M | $11.7M | $6.2M | $3.9M | $4.7M | $5.6M |
| Working capital | $9.6M | $10.6M | $10.7M | $11.7M | $10.2M | $9.0M | $7.3M | $5.1M | $6.8M | $5.6M |
| Tangible book value | $10.0M | $10.7M | $11.1M | $11.6M | $11.1M | $10.2M | $9.1M | $6.2M | $7.9M | $6.2M |
| Book value per share | $2.27 | $2.43 | $2.52 | $2.64 | $2.53 | $2.33 | $2.11 | $1.25 | $1.53 | $1.18 |
| Shares outstanding | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.3M | 5.2M | 5.2M | 5.2M |
| Current ratio | 4.12 | 3.88 | 3.74 | 3.72 | 2.71 | 2.48 | 3.53 | 3.83 | 5.72 | 6.37 |
| Quick ratio | 4.09 | 3.86 | 3.71 | 3.70 | 2.69 | 2.46 | 3.48 | 3.52 | 4.74 | 6.33 |
| Debt / equity | 0.02 | 0.01 | 0.03 | 0.04 | 0.01 | 0.04 | 0.07 | 0.00 | 0.00 | 0.00 |
| Equity / assets | 69.4% | 69.2% | 69.0% | 66.7% | 62.3% | 60.1% | 72.1% | 76.5% | 82.8% | 84.4% |
| Jun '26 | Mar '26 | Sep '25 | Jun '25 | Mar '25 | Sep '24 | Jun '24 | Mar '24 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $9.0M | $9.0M | $9.6M | $10.1M | $10.1M | $10.1M | $11.0M | $11.0M | $11.4M | $12.6M | $12.6M | $12.6M |
| Cash & equivalents | $9.0M | $9.0M | $9.6M | $10.1M | $10.1M | $10.1M | $11.0M | $11.0M | $11.4M | $12.6M | $12.6M | $12.6M |
| Receivables | $3.6M | $901,296 | $4.8M | $4.0M | $717,709 | $4.0M | $3.5M | $1.0M | $3.4M | $3.4M | $793,212 | $793,212 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $85,231 | $2.8M | $79,846 | $94,948 | $3.4M | $59,728 | $95,583 | $2.6M | $216,393 | $69,104 | $2.6M | $2.6M |
| Total current assets | $12.7M | $12.7M | $14.5M | $14.2M | $14.2M | $14.2M | $14.7M | $14.7M | $15.0M | $16.0M | $16.0M | $16.0M |
| Property, plant & equipment (net) | $598,591 | $598,591 | $652,213 | $552,292 | $552,292 | $701,938 | $827,555 | $835,012 | $948,521 | $886,444 | $886,444 | $886,444 |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $1,918 | $7,456 | $7,456 | $16,834 | $54,382 | $54,382 | $54,382 |
| Long-term investments | $0 | $129,127 | $140,469 | $0 | $137,804 | $142,499 | $0 | $138,498 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1.1M | $996,226 | $574,625 | $667,871 | $530,067 | $492,883 | $648,607 | $502,652 | $497,648 | $601,725 | $601,725 | $601,725 |
| Total assets | $14.4M | $14.4M | $15.9M | $15.4M | $15.4M | $15.5M | $16.2M | $16.2M | $16.5M | $17.5M | $17.5M | $17.5M |
| Liabilities | ||||||||||||
| Accounts payable | $147,909 | $147,909 | $316,066 | $154,256 | $154,256 | $39,023 | $210,348 | $210,348 | $91,640 | $233,473 | $233,473 | $233,473 |
| Short-term debt | $114,954 | — | $149,209 | $117,711 | — | $512,828 | $260,283 | — | $219,072 | $210,274 | — | $315,512 |
| Deferred revenue | $1.1M | — | $1.7M | $1.6M | — | $1.6M | $1.8M | — | $1.9M | $2.1M | — | $2.1M |
| Total current liabilities | $3.1M | $3.1M | $3.9M | $3.7M | $3.7M | $3.6M | $3.9M | $3.9M | $3.8M | $4.3M | $4.3M | $4.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $187,935 | $254,758 | — | $132,250 | $236,693 | — | $333,258 | $446,733 | — | $413,445 | — |
| Other long-term liabilities | $72,980 | $72,981 | $105,548 | $29,419 | $14,539 | $39,377 | $72,975 | $72,975 | $227,660 | $203,171 | $203,171 | $203,171 |
| Total liabilities | $3.2M | $3.2M | $4.0M | $3.7M | $3.7M | $3.6M | $4.0M | $4.0M | $4.1M | $4.5M | $4.5M | $4.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $44,106 | — | $44,106 | $29,226 | — | $44,106 | $44,106 | — | $44,401 | $44,401 | — | $44,401 |
| Retained earnings (deficit) | $4.8M | $4.8M | $5.7M | $5.9M | $5.9M | $6.7M | $6.4M | $6.4M | $6.6M | $6.4M | $6.4M | $7.3M |
| Accumulated other comprehensive income | $57,417 | — | −$207,293 | −$368,844 | — | −$923,281 | −$381,118 | — | −$579,615 | $115,139 | — | −$752,391 |
| Minority interest | — | $1.3M | $1.2M | — | $1.1M | — | — | — | — | — | — | — |
| Total shareholders' equity | $10.0M | $10.0M | $10.7M | $10.7M | $10.7M | $10.9M | $11.1M | $11.1M | $11.2M | $11.7M | $11.7M | $11.7M |
| Key figures | ||||||||||||
| Total debt | $187,935 | — | $254,758 | $132,250 | — | $552,205 | $333,258 | — | $446,733 | $413,445 | — | $518,683 |
| Net cash (debt) | $8.8M | — | $9.3M | $10.0M | — | $9.6M | $10.7M | — | $11.0M | $12.2M | — | $12.0M |
| Working capital | $9.6M | $9.6M | $10.6M | $10.6M | $10.6M | $10.6M | $10.7M | $10.7M | $11.2M | $11.7M | $11.7M | $11.7M |
| Tangible book value | $10.0M | $10.0M | $10.7M | $10.7M | $10.7M | $10.9M | $11.1M | $11.1M | $11.2M | $11.6M | $11.6M | $11.6M |
| Book value per share | $2.27 | $2.27 | $2.43 | $2.43 | $2.43 | $2.48 | $2.51 | $2.53 | $2.52 | $2.64 | $2.64 | $2.64 |
| Shares outstanding | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M | 4.4M |
| Current ratio | 4.12 | 4.12 | 3.72 | 3.88 | 3.88 | 3.94 | 3.74 | 3.74 | 3.92 | 3.72 | 3.72 | 3.72 |
| Quick ratio | 4.09 | 3.22 | 3.70 | 3.86 | 2.96 | 3.92 | 3.71 | 3.08 | 3.86 | 3.70 | 3.10 | 3.10 |
| Debt / equity | 0.02 | — | 0.02 | 0.01 | — | 0.05 | 0.03 | — | 0.04 | 0.04 | — | 0.04 |
| Equity / assets | 69.4% | 69.4% | 67.5% | 69.2% | 69.3% | 70.5% | 69.0% | 69.0% | 67.9% | 66.7% | 66.7% | 66.7% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed July 30, 2026); data from EODHD.
WAFU financial position
At the end of fiscal 2026 (March 31, 2026), Wah Fu Education had total assets of $14.4 million (down 6.5% from a year earlier), total liabilities of $3.2 million and shareholders' equity of $10.0 million. It held $9.0 million in cash and short-term investments against $0.2 million of debt, a net cash position of $8.8 million. Its current ratio was 4.12. In the latest quarter (ended June 30, 2026) total assets were $14.4 million and equity $10.0 million.
Related: WAFU income statement, WAFU cash flow statement, WAFU key metrics. See the WAFU stock overview for the latest quote and news.
WAFU balance sheet FAQ
What are Wah Fu Education's total assets?
Wah Fu Education reported total assets of $14.4 million at the end of fiscal 2026 (March 31, 2026), compared with $15.4 million a year earlier.
How much debt does Wah Fu Education have?
Wah Fu Education had $0.2 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does Wah Fu Education have?
Wah Fu Education held $9.0 million in cash and short-term investments at the end of fiscal 2026; with $0.2 million of debt that is net cash of $8.8 million.
What is Wah Fu Education's book value?
Wah Fu Education's shareholders' equity (book value) was $10.0 million at the end of fiscal 2026, or $2.27 per share.
What is Wah Fu Education's current ratio?
Wah Fu Education had current assets of $12.7 million and current liabilities of $3.1 million, a current ratio of 4.12 (it can cover its short-term obligations).