X-Energy, Inc. (XE) Balance Sheet
XE balance sheet, 2025
December 31, 2025 · U.S. dollars$1.21B assets = $369.0M liabilities + $842.3M equity
Both columns are drawn to the same scale: what XE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XE financial health
Descriptive bands, not a rating. Fiscal 2025.
XE balance sheet trends, 2021–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $87.6M2021 | $1.21B2025 | +92.8%/yr | |
| Total liabilities | $396.1M2021 | $369.0M2025 | −1.8%/yr | |
| Shareholders’ equity | $02021 | $842.3M2025 | — | |
| Cash & short-term investments | $35.8M2021 | $763.8M2025 | +114.9%/yr | |
| Total debt | $40.9M2021 | $23.2M2025 | −13.2%/yr | |
| Net cash (debt) | −$5.0M2021 | $740.6M2025 | +$745.7M | |
| Working capital | $10.3M2021 | $795.6M2025 | +$785.3M |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XE assets
XE liabilities and equity
XE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|
| Assets | |||||
| Cash & short-term investments | $763.8M | $514.6M | $14.4M | $72.8M | $35.8M |
| Cash & equivalents | $458.9M | $514.6M | $14.4M | $72.8M | $35.8M |
| Short-term investments | $304.9M | $0 | — | — | — |
| Receivables | $79.0M | $44.4M | $42.8M | $39.6M | $48.5M |
| Inventory | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $11.5M | $2.9M | $1.5M | $8.3M | $1.2M |
| Total current assets | $854.4M | $561.9M | $58.7M | $120.8M | $85.5M |
| Property, plant & equipment (net) | $72.8M | $16.8M | $16.3M | $6.0M | $2.1M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $261.5M | $0 | $0 | $0 | $0 |
| Other non-current assets | $22.6M | $789,000 | $646,001 | $0 | $0 |
| Total assets | $1.21B | $579.5M | $75.6M | $126.7M | $87.6M |
| Liabilities | |||||
| Accounts payable | $3.4M | $2.3M | $8.0M | $2.3M | $5.2M |
| Short-term debt | $2.3M | $21.0M | $58.0M | $35.1M | $39.8M |
| Total current liabilities | $58.8M | $64.7M | $133.3M | $78.0M | $75.2M |
| Long-term debt | $0 | $0 | $0 | $134.8M | $0 |
| Lease obligations | $20.9M | $12.8M | — | $5.1M | $2.0M |
| Other long-term liabilities | $310.2M | $1.27B | $141.4M | $330.4M | $320.9M |
| Total liabilities | $369.0M | $1.33B | $274.7M | $543.2M | $396.1M |
| Shareholders' equity | |||||
| Common stock & paid-in capital | $95.2M | $92.7M | $76.0M | — | — |
| Retained earnings (deficit) | −$1.24B | −$846.6M | −$716.8M | −$432.8M | −$310.5M |
| Accumulated other comprehensive income | −$117,000 | $6,000 | $879,000 | $7.0M | −$1,000 |
| Minority interest | $626.2M | — | — | — | — |
| Total shareholders' equity | $842.3M | −$753.9M | −$199.1M | $0 | $0 |
| Key figures | |||||
| Total debt | $23.2M | $31.4M | $190.9M | $172.2M | $40.9M |
| Net cash (debt) | $740.6M | $483.2M | −$176.5M | −$99.5M | −$5.0M |
| Working capital | $795.6M | $497.2M | −$74.7M | $42.8M | $10.3M |
| Tangible book value | $842.3M | −$753.9M | −$199.1M | $0 | $0 |
| Book value per share | — | −$2.76 | — | — | — |
| Shares outstanding | — | 273.4M | — | — | — |
| Current ratio | 14.53 | 8.68 | 0.44 | 1.55 | 1.14 |
| Quick ratio | 14.33 | 8.64 | 0.43 | 1.44 | 1.12 |
| Debt / equity | 0.03 | — | — | — | — |
| Equity / assets | 69.5% | −130.1% | −263.5% | 0.0% | 0.0% |
| Jun '26 | Mar '26 | Dec '25 | Dec '24 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $1.64B | $673.6M | $763.8M | $514.6M |
| Cash & equivalents | $1.15B | $224.1M | $458.9M | $514.6M |
| Short-term investments | $489.8M | $449.5M | $304.9M | — |
| Receivables | $137.4M | $77.3M | $79.0M | $44.4M |
| Inventory | $0 | $0 | $0 | $0 |
| Other current assets | $21.3M | $23.5M | $11.5M | $2.9M |
| Total current assets | $1.79B | $774.4M | $854.4M | $561.9M |
| Property, plant & equipment (net) | $140.9M | $96.8M | $72.8M | $16.8M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 |
| Long-term investments | $264.6M | $270.4M | $0 | $0 |
| Other non-current assets | $55.8M | $54.3M | $284.1M | $789,000 |
| Total assets | $2.26B | $1.20B | $1.21B | $579.5M |
| Liabilities | ||||
| Accounts payable | $10.7M | $10.0M | $3.4M | $2.3M |
| Short-term debt | $1.9M | $2.6M | $2.3M | $21.0M |
| Deferred revenue | $12.8M | $3.8M | — | — |
| Total current liabilities | $104.3M | $89.3M | $58.8M | $64.7M |
| Long-term debt | $0 | $0 | $0 | $0 |
| Lease obligations | $26.8M | $27.4M | — | — |
| Other long-term liabilities | $55.3M | $60.7M | $310.2M | $61.0M |
| Total liabilities | $159.6M | $150.1M | $369.0M | $125.7M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $41,000 | $95.3M | $95.2M | $92.7M |
| Retained earnings (deficit) | −$59.1M | −$1.40B | −$1.24B | −$846.6M |
| Accumulated other comprehensive income | $306,000 | $26,000 | −$116,999 | $5,999 |
| Minority interest | $280.9M | — | — | — |
| Total shareholders' equity | $1.81B | $1.05B | $842.3M | $453.8M |
| Key figures | ||||
| Total debt | $26.8M | $27.4M | $23.2M | $31.4M |
| Net cash (debt) | $1.61B | $646.2M | $740.6M | $483.2M |
| Working capital | $1.69B | $685.0M | $795.6M | $497.2M |
| Tangible book value | $1.81B | $1.05B | $842.3M | $453.8M |
| Book value per share | $6.48 | — | — | — |
| Shares outstanding | 280.1M | — | — | — |
| Current ratio | 17.20 | 8.67 | 14.53 | 8.68 |
| Quick ratio | 16.99 | 8.40 | 14.33 | 8.64 |
| Debt / equity | 0.01 | 0.03 | 0.03 | 0.07 |
| Equity / assets | 80.5% | 87.5% | 69.5% | 78.3% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2025); data from EODHD.
XE financial position
At the end of fiscal 2025 (December 31, 2025), X-Energy had total assets of $1.2 billion (up 109.0% from a year earlier), total liabilities of $369.0 million and shareholders' equity of $842.3 million. It held $763.8 million in cash and short-term investments against $23.2 million of debt, a net cash position of $740.6 million. Its current ratio was 14.53. In the latest quarter (ended June 30, 2026) total assets were $2.3 billion and equity $1.8 billion.
Related: XE income statement, XE cash flow statement, XE key metrics. See the XE stock overview for the latest quote and news.
XE balance sheet FAQ
What are X-Energy's total assets?
X-Energy reported total assets of $1.2 billion at the end of fiscal 2025 (December 31, 2025), compared with $579.5 million a year earlier.
How much debt does X-Energy have?
X-Energy had $23.2 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.03.
How much cash does X-Energy have?
X-Energy held $763.8 million in cash and short-term investments at the end of fiscal 2025; with $23.2 million of debt that is net cash of $740.6 million.
What is X-Energy's book value?
X-Energy's shareholders' equity (book value) was $842.3 million at the end of fiscal 2025.
What is X-Energy's current ratio?
X-Energy had current assets of $854.4 million and current liabilities of $58.8 million, a current ratio of 14.53 (it can cover its short-term obligations).