WaterBridge Infrastructure LLC (WBI) Balance Sheet
WBI balance sheet, 2025
December 31, 2025 · U.S. dollars$3.70B assets = $1.85B liabilities + $1.85B equity
Both columns are drawn to the same scale: what WBI owns equals what it owes plus shareholders’ equity. Hover a block for its value.
WBI financial health
Descriptive bands, not a rating. Fiscal 2025.
WBI balance sheet trends, 2023–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $1.07B2023 | $3.70B2025 | +85.6%/yr | |
| Total liabilities | $423.8M2023 | $1.85B2025 | +109.1%/yr | |
| Shareholders’ equity | $650.5M2023 | $602.3M2025 | −3.8%/yr | |
| Cash & short-term investments | $12.9M2023 | $51.5M2025 | +100.1%/yr | |
| Total debt | $340.5M2023 | $12.5M2025 | −80.8%/yr | |
| Net cash (debt) | −$327.7M2023 | $39.0M2025 | +$366.7M | |
| Working capital | $18.6M2023 | $72.2M2025 | +$53.6M | |
| Book value per share | $16.762023 | $13.922025 | −8.9%/yr | |
| Current ratio | 1.292023 | 1.382025 | +0.10 | |
| Debt / equity | 0.522023 | 0.022025 | −0.50 | |
| Shares outstanding | 38.8M2023 | 43.3M2025 | +5.6%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
WBI assets
WBI liabilities and equity
WBI debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
WBI balance sheet
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $51.5M | $13.3M | $12.9M |
| Cash & equivalents | $51.5M | $13.3M | $12.9M |
| Receivables | $164.3M | $101.0M | $41.2M |
| Inventory | $0 | $0 | $0 |
| Other current assets | $45.3M | $6.0M | $29.7M |
| Total current assets | $261.1M | $120.3M | $83.7M |
| Property, plant & equipment (net) | $2.29B | $1.10B | $0 |
| Goodwill & intangible assets | $988.8M | $127.5M | $12.7M |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $164.5M | $1.7M | $977.9M |
| Total assets | $3.70B | $1.35B | $1.07B |
| Liabilities | |||
| Accounts payable | $38.7M | $13.2M | — |
| Short-term debt | $12.5M | $6.5M | $0 |
| Total current liabilities | $188.9M | $83.5M | $65.1M |
| Long-term debt | $1.43B | $589.2M | $340.5M |
| Lease obligations | $7.4M | $2.8M | — |
| Other long-term liabilities | $231.6M | $14.8M | $18.1M |
| Total liabilities | $1.85B | $687.5M | $423.8M |
| Shareholders' equity | |||
| Common stock & paid-in capital | — | $663.0M | $650.5M |
| Retained earnings (deficit) | −$4.5M | $0 | — |
| Minority interest | $1.25B | $0 | — |
| Total shareholders' equity | $602.3M | $663.0M | $650.5M |
| Key figures | |||
| Total debt | $12.5M | $595.8M | $340.5M |
| Net cash (debt) | $39.0M | −$582.5M | −$327.7M |
| Working capital | $72.2M | $36.9M | $18.6M |
| Tangible book value | −$386.5M | $535.5M | $637.8M |
| Book value per share | $13.92 | $17.22 | $16.76 |
| Shares outstanding | 43.3M | 38.5M | 38.8M |
| Current ratio | 1.38 | 1.44 | 1.29 |
| Quick ratio | 1.14 | 1.37 | 0.83 |
| Debt / equity | 0.02 | 0.90 | 0.52 |
| Equity / assets | 16.3% | 49.1% | 60.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $47.6M | $50.7M | $51.5M | $346.6M | $32.0M | $40.9M | $13.3M |
| Cash & equivalents | $47.6M | $50.7M | $51.5M | $346.6M | $32.0M | $40.9M | $13.3M |
| Short-term investments | — | — | — | — | $104,000 | — | — |
| Receivables | $212.8M | $158.3M | $164.3M | $155.2M | $138.1M | $144.1M | $101.0M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $8.0M | $50.3M | $45.3M | $53.2M | $45.8M | $55.0M | $5.5M |
| Total current assets | $268.5M | $259.2M | $261.1M | $555.1M | $215.9M | $240.1M | $119.9M |
| Property, plant & equipment (net) | $2.48B | $2.35B | $2.29B | $2.20B | $2.07B | $2.34B | $1.10B |
| Goodwill & intangible assets | $975.2M | $965.4M | $988.8M | $1.02B | $1.02B | $317.3M | $107.7M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $217.2M | $174.5M | $164.5M | $163.1M | $49.2M | $45.5M | $22.0M |
| Total assets | $3.94B | $3.75B | $3.70B | $3.94B | $3.35B | $2.94B | $1.35B |
| Liabilities | |||||||
| Accounts payable | $51.2M | $55.7M | $38.7M | $43.1M | $61.9M | $54.7M | $30.6M |
| Short-term debt | $6.6M | $9.1M | $12.5M | $33.3M | $23.1M | $14.1M | $7.9M |
| Total current liabilities | $174.3M | $199.5M | $188.9M | $165.0M | $184.2M | $171.2M | $83.5M |
| Long-term debt | $1.61B | $1.46B | $1.43B | $1.68B | $622.6M | $1.66B | $586.4M |
| Lease obligations | $6.7M | $7.1M | $7.4M | $7.9M | — | — | $2.8M |
| Other long-term liabilities | $325.7M | $247.7M | $231.6M | $230.0M | $1.18B | $33.7M | $17.7M |
| Total liabilities | $2.11B | $1.90B | $1.85B | $2.08B | $1.99B | $1.86B | $687.5M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $760.5M | — | — | $608.4M | $1.36B | $984.6M | — |
| Retained earnings (deficit) | −$551,000 | −$3.2M | −$4.5M | −$667,000 | — | — | $0 |
| Accumulated other comprehensive income | — | — | — | — | — | — | $663.0M |
| Minority interest | $1.07B | $1.19B | $1.25B | $1.25B | $1.19B | — | — |
| Total shareholders' equity | $759.9M | $656.7M | $602.3M | $607.7M | $1.36B | $1.08B | $663.0M |
| Key figures | |||||||
| Total debt | $1.62B | $9.1M | $12.5M | $33.3M | $1.79B | $1.67B | $597.1M |
| Net cash (debt) | −$1.57B | $41.6M | $39.0M | $313.3M | −$1.76B | −$1.63B | −$583.8M |
| Working capital | $94.1M | $59.7M | $72.2M | $390.1M | $31.7M | $68.9M | $36.4M |
| Tangible book value | −$215.3M | −$308.7M | −$386.5M | −$412.1M | $348.1M | $762.3M | $555.4M |
| Book value per share | $17.56 | $15.18 | $13.92 | $14.05 | $35.42 | $28.03 | $15.33 |
| Shares outstanding | 43.3M | 43.3M | 43.3M | 43.3M | 38.5M | 38.5M | 43.3M |
| Current ratio | 1.54 | 1.30 | 1.38 | 3.36 | 1.17 | 1.40 | 1.44 |
| Quick ratio | 1.49 | 1.05 | 1.14 | 3.04 | 0.92 | 1.08 | 1.37 |
| Debt / equity | 2.13 | 0.01 | 0.02 | 0.05 | 1.31 | 1.55 | 0.90 |
| Equity / assets | 19.3% | 17.5% | 16.3% | 15.4% | 40.7% | 36.7% | 49.1% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 16, 2026); data from EODHD.
WBI financial position
At the end of fiscal 2025 (December 31, 2025), WaterBridge Infrastructure had total assets of $3.7 billion (up 174.0% from a year earlier), total liabilities of $1.9 billion and shareholders' equity of $602.3 million. It held $51.5 million in cash and short-term investments against $12.5 million of debt, a net cash position of $39.0 million. Its current ratio was 1.38. In the latest quarter (ended June 30, 2026) total assets were $3.9 billion and equity $759.9 million.
Related: WBI income statement, WBI cash flow statement, WBI key metrics. See the WBI stock overview for the latest quote and news.
WBI balance sheet FAQ
What are WaterBridge Infrastructure's total assets?
WaterBridge Infrastructure reported total assets of $3.7 billion at the end of fiscal 2025 (December 31, 2025), compared with $1.4 billion a year earlier.
How much debt does WaterBridge Infrastructure have?
WaterBridge Infrastructure had $12.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.02.
How much cash does WaterBridge Infrastructure have?
WaterBridge Infrastructure held $51.5 million in cash and short-term investments at the end of fiscal 2025; with $12.5 million of debt that is net cash of $39.0 million.
What is WaterBridge Infrastructure's book value?
WaterBridge Infrastructure's shareholders' equity (book value) was $602.3 million at the end of fiscal 2025, or $13.92 per share.
What is WaterBridge Infrastructure's current ratio?
WaterBridge Infrastructure had current assets of $261.1 million and current liabilities of $188.9 million, a current ratio of 1.38 (it can cover its short-term obligations).
How much goodwill does WaterBridge Infrastructure have?
WaterBridge Infrastructure carried $988.8 million of goodwill and intangible assets, 26.7% of total assets, at the end of fiscal 2025.