XBiotech Inc. (XBIT) Balance Sheet
XBIT balance sheet, 2025
December 31, 2025 · U.S. dollars$150.1M assets = $9.7M liabilities + $140.3M equity
Both columns are drawn to the same scale: what XBIT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XBIT financial health
Equity / assets93.5%
Equity-funded · of assets funded by shareholders
Goodwill & intangibles0.0%
Mostly tangible · of total assets
Descriptive bands, not a rating. Fiscal 2025.
XBIT balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $67.0M2016 | $150.1M2025 | +9.4%/yr | |
| Total liabilities | $8.0M2016 | $9.7M2025 | +2.2%/yr | |
| Shareholders’ equity | $59.1M2016 | $140.3M2025 | +10.1%/yr | |
| Cash & short-term investments | $34.3M2016 | $125.6M2025 | +15.5%/yr | |
| Working capital | $29.0M2016 | $119.0M2025 | +$90.1M | |
| Book value per share | $1.822016 | $4.602025 | +10.8%/yr | |
| Shares outstanding | 32.4M2016 | 30.5M2025 | −0.7%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XBIT assets
Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current
XBIT liabilities and equity
Current liabilitiesLong-term debtOther long-term liabilitiesEquity
XBIT debt vs cash
Total debtCash & ST investmentsNet cash (debt)
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XBIT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $125.6M | $172.7M | $200.0M | $217.5M | $237.0M | $237.4M | $714.6M | $15.8M | $31.8M | $34.3M |
| Cash & equivalents | $125.6M | $172.7M | $200.0M | $157.3M | $237.0M | $237.4M | $714.6M | $15.8M | $31.8M | $34.3M |
| Short-term investments | — | — | $0 | $60.2M | $0 | — | — | — | $0 | $0 |
| Receivables | $360,000 | $858,000 | $935,000 | $1.8M | $9.0M | $4.1M | $0 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | −$9.0M | −$6.6M | $0 | $0 | $0 | $0 |
| Other current assets | $1.0M | $1.0M | $760,000 | $601,000 | $9.9M | $91.0M | $1.7M | $1.2M | $1.6M | $2.6M |
| Total current assets | $127.0M | $174.6M | $201.7M | $219.8M | $246.9M | $325.9M | $716.3M | $17.0M | $33.3M | $36.9M |
| Property, plant & equipment (net) | $23.1M | $24.5M | $24.9M | $26.3M | $28.3M | $27.3M | $25.2M | $27.3M | $29.6M | $30.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $0 | $0 | $0 | $0 | $533,000 | $75.4M | $0 | $0 | $0 |
| Total assets | $150.1M | $199.1M | $226.6M | $246.1M | $275.2M | $353.7M | $816.9M | $44.3M | $63.0M | $67.0M |
| Liabilities | ||||||||||
| Accounts payable | $1.5M | $2.2M | $2.5M | $2.4M | $2.1M | $2.5M | $2.1M | $1.7M | $1.7M | $4.4M |
| Short-term debt | — | $10.2M | — | — | — | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — | — | $4.5M | — | — | — |
| Total current liabilities | $7.9M | $15.1M | $6.1M | $4.1M | $3.5M | $4.0M | $60.2M | $2.9M | $2.8M | $8.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.8M | $1.7M | $1.7M | $1.6M | $2.3M | $1.1M | $1.1M | $3,000 | $18,000 | $23,000 |
| Total liabilities | $9.7M | $16.8M | $7.8M | $5.7M | $5.8M | $5.1M | $61.2M | $2.9M | $2.8M | $8.0M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $276.7M | $273.1M | $271.2M | $267.3M | $262.3M | $249.8M | $324.8M | $279.4M | $277.5M | $242.4M |
| Retained earnings (deficit) | −$136.4M | −$90.8M | −$52.3M | −$27.7M | $5.2M | $97.6M | $430.9M | −$237.7M | −$216.6M | −$183.4M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | — | — | $0 | $826,000 | $2.0M | $1.3M | −$106,000 | −$255,000 | −$768,000 | $57,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $140.3M | $182.3M | $218.8M | $240.4M | $269.4M | $348.6M | $755.6M | $41.4M | $60.2M | $59.1M |
| Key figures | ||||||||||
| Total debt | — | $10.2M | — | — | — | — | — | — | — | — |
| Net cash (debt) | — | $162.4M | — | — | — | — | — | — | — | — |
| Working capital | $119.0M | $159.5M | $195.6M | $215.8M | $243.4M | $321.9M | $656.1M | $14.1M | $30.5M | $29.0M |
| Tangible book value | $140.3M | $182.3M | $218.8M | $240.4M | $269.4M | $348.6M | $755.6M | $41.4M | $60.2M | $59.1M |
| Book value per share | $4.60 | $5.98 | $7.19 | $7.90 | $8.97 | $11.31 | $16.31 | $1.16 | $1.73 | $1.82 |
| Shares outstanding | 30.5M | 30.5M | 30.4M | 30.4M | 30.0M | 30.8M | 46.3M | 35.8M | 34.9M | 32.4M |
| Current ratio | 16.01 | 11.56 | 33.07 | 54.07 | 71.49 | 81.80 | 11.90 | 5.78 | 11.94 | 4.64 |
| Quick ratio | 15.88 | 11.49 | 32.94 | 53.92 | 71.22 | 60.61 | 11.87 | 5.37 | 11.38 | 4.31 |
| Debt / equity | — | 0.06 | — | — | — | — | — | — | — | — |
| Equity / assets | 93.5% | 91.5% | 96.6% | 97.7% | 97.9% | 98.6% | 92.5% | 93.4% | 95.5% | 88.1% |
| 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 | $109.5M | $115.5M | $125.6M | $147.4M | $152.9M | $155.9M | $172.7M | $183.1M | $188.5M | $201.0M | $200.0M | $202.2M |
| Cash & equivalents | $109.5M | $115.5M | $125.6M | $147.4M | $152.9M | $155.9M | $172.7M | $183.1M | $188.5M | $201.0M | $200.0M | $202.2M |
| Short-term investments | — | — | — | — | — | — | — | — | — | — | $0 | $0 |
| Receivables | $291,000 | $302,000 | $360,000 | $450,000 | $638,000 | $638,000 | $858,000 | $871,000 | $993,000 | $945,000 | $935,000 | $1.3M |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $1.3M | $1.3M | $1.0M | $1.1M | $1.3M | $1.1M | $1.0M | $1.0M | $1.1M | $1.1M | $760,000 | $879,000 |
| Total current assets | $111.2M | $117.0M | $127.0M | $149.0M | $154.9M | $157.7M | $174.6M | $185.0M | $190.6M | $203.1M | $201.7M | $204.4M |
| Property, plant & equipment (net) | $22.5M | $22.8M | $23.1M | $23.5M | $23.8M | $24.2M | $24.5M | $24.8M | $24.9M | $24.8M | $24.9M | $25.2M |
| 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 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Total assets | $133.7M | $139.8M | $150.1M | $172.4M | $178.7M | $181.9M | $199.1M | $209.9M | $215.6M | $227.9M | $226.6M | $229.6M |
| Liabilities | ||||||||||||
| Accounts payable | $1.1M | $857,000 | $1.5M | $1.0M | $1.4M | $1.1M | $2.2M | $1.5M | $1.7M | $2.6M | $2.5M | $1.5M |
| Short-term debt | — | — | — | — | — | $10.2M | $10.2M | $10.0M | $10.0M | $10.0M | — | — |
| Deferred revenue | — | — | — | — | — | — | — | — | $83,000 | $83,000 | — | — |
| Total current liabilities | $3.4M | $3.0M | $7.9M | $3.6M | $3.9M | $5.4M | $15.1M | $16.0M | $17.1M | $16.9M | $6.1M | $5.3M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $1.8M | $1.8M | $1.8M | $1.8M | $1.8M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.7M | $1.6M |
| Total liabilities | $5.2M | $4.8M | $9.7M | $5.3M | $5.6M | $7.2M | $16.8M | $17.7M | $18.9M | $18.6M | $7.8M | $6.9M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $277.1M | $276.9M | $276.7M | $276.6M | $276.5M | $276.4M | $273.1M | $272.4M | $272.0M | $271.6M | $271.2M | $269.9M |
| Retained earnings (deficit) | −$148.6M | −$141.9M | −$136.4M | −$109.5M | −$103.5M | −$101.7M | −$90.8M | −$80.3M | −$75.3M | −$62.3M | −$52.3M | −$47.7M |
| Accumulated other comprehensive income | — | — | — | — | — | — | — | — | — | $0 | $0 | $440,000 |
| Total shareholders' equity | $128.5M | $135.0M | $140.3M | $167.1M | $173.1M | $174.7M | $182.3M | $192.1M | $196.7M | $209.3M | $218.8M | $222.7M |
| Key figures | ||||||||||||
| Total debt | — | — | — | — | — | $10.2M | $10.2M | $10.0M | $10.0M | $10.0M | — | — |
| Net cash (debt) | — | — | — | — | — | $145.6M | $162.4M | $173.1M | $178.5M | $191.0M | — | — |
| Working capital | $107.8M | $114.0M | $119.0M | $145.4M | $151.0M | $152.3M | $159.5M | $169.0M | $173.5M | $186.2M | $195.6M | $199.1M |
| Tangible book value | $128.5M | $135.0M | $140.3M | $167.1M | $173.1M | $174.7M | $182.3M | $192.1M | $196.7M | $209.3M | $218.8M | $222.7M |
| Book value per share | $4.21 | $4.43 | $4.60 | $5.48 | $5.68 | $5.73 | $5.98 | $6.30 | $6.46 | $6.87 | $7.19 | $7.32 |
| Shares outstanding | 30.5M | 30.5M | 30.5M | 30.5M | 30.5M | 30.5M | 30.5M | 30.5M | 30.5M | 30.4M | 30.4M | 30.4M |
| Current ratio | 33.15 | 39.03 | 16.01 | 41.78 | 40.16 | 29.15 | 11.56 | 11.57 | 11.13 | 12.03 | 33.07 | 38.61 |
| Quick ratio | 32.75 | 38.60 | 15.88 | 41.46 | 39.82 | 28.93 | 11.49 | 11.51 | 11.06 | 11.96 | 32.94 | 38.44 |
| Debt / equity | — | — | — | — | — | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | — | — |
| Equity / assets | 96.1% | 96.6% | 93.5% | 96.9% | 96.9% | 96.1% | 91.5% | 91.5% | 91.3% | 91.8% | 96.6% | 97.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 13, 2026); data from EODHD.
XBIT financial position
At the end of fiscal 2025 (December 31, 2025), XBiotech had total assets of $150.1 million (down 24.6% from a year earlier), total liabilities of $9.7 million and shareholders' equity of $140.3 million. Its current ratio was 16.01. In the latest quarter (ended June 30, 2026) total assets were $133.7 million and equity $128.5 million.
Related: XBIT income statement, XBIT cash flow statement, XBIT key metrics. See the XBIT stock overview for the latest quote and news.
XBIT balance sheet FAQ
What are XBiotech's total assets?
XBiotech reported total assets of $150.1 million at the end of fiscal 2025 (December 31, 2025), compared with $199.1 million a year earlier.
How much cash does XBiotech have?
XBiotech held $125.6 million in cash and short-term investments at the end of fiscal 2025.
What is XBiotech's book value?
XBiotech's shareholders' equity (book value) was $140.3 million at the end of fiscal 2025, or $4.60 per share.
What is XBiotech's current ratio?
XBiotech had current assets of $127.0 million and current liabilities of $7.9 million, a current ratio of 16.01 (it can cover its short-term obligations).