Xenon Pharmaceuticals Inc. (XENE) Balance Sheet
XENE balance sheet, 2025
December 31, 2025 · U.S. dollars$981.7M assets = $399.9M liabilities + $581.8M equity
Both columns are drawn to the same scale: what XENE owns equals what it owes plus shareholders’ equity. Hover a block for its value.
XENE financial health
Descriptive bands, not a rating. Fiscal 2025.
XENE balance sheet trends, 2016–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $67.5M2016 | $981.7M2025 | +34.6%/yr | |
| Total liabilities | $3.6M2016 | $399.9M2025 | +68.8%/yr | |
| Shareholders’ equity | $63.9M2016 | $581.8M2025 | +27.8%/yr | |
| Cash & short-term investments | $64.1M2016 | $548.9M2025 | +26.9%/yr | |
| Total debt | $6.8M2017 | $7.9M2025 | +2.0%/yr | |
| Net cash (debt) | $36.9M2017 | $540.9M2025 | +$504.1M | |
| Working capital | $62.2M2016 | $518.9M2025 | +$456.7M | |
| Book value per share | $5.322018 | $7.342025 | +4.7%/yr | |
| Debt / equity | 0.192017 | 0.012025 | −0.18 | |
| Shares outstanding | 19.4M2018 | 79.3M2025 | +22.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
XENE assets
XENE liabilities and equity
XENE debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
XENE balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $548.9M | $626.9M | $638.1M | $592.1M | $551.8M | $177.0M | $141.4M | $119.3M | $43.7M | $64.1M |
| Cash & equivalents | $199.2M | $142.7M | $148.6M | $57.2M | $175.7M | $45.0M | $24.8M | $67.8M | $20.5M | $17.1M |
| Short-term investments | $349.7M | $484.2M | $489.4M | $534.8M | $376.1M | $132.0M | $116.6M | $51.6M | $23.2M | $47.1M |
| Receivables | $1.4M | $1.5M | $874,000 | $986,000 | $2.8M | $1.8M | $813,000 | $256,000 | $438,000 | $200,000 |
| Inventory | $0 | $0 | $1 | −$986,000 | −$2.8M | −$1.8M | $0 | $0 | $1 | $1 |
| Other current assets | $10.4M | $6.9M | $6.0M | $8.2M | $7.2M | $4.8M | $2.7M | $1.9M | $715,999 | $1.3M |
| Total current assets | $560.6M | $635.3M | $645.0M | $600.3M | $559.0M | $181.8M | $144.9M | $121.4M | $44.8M | $65.7M |
| Property, plant & equipment (net) | $15.3M | $18.2M | $18.8M | $16.9M | $12.5M | $6.9M | $2.6M | $991,000 | $1.1M | $1.4M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $37.2M | $127.5M | $292.8M | $128.7M | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $368.5M | $17.2M | $8.2M | $8.3M | $465,000 | $523,000 | $238,000 | $0 | $230,000 | $408,000 |
| Total assets | $981.7M | $798.1M | $964.8M | $754.1M | $572.0M | $189.2M | $147.7M | $122.4M | $46.1M | $67.5M |
| Liabilities | ||||||||||
| Accounts payable | $3.9M | $5.1M | $8.6M | $8.5M | $3.8M | $3.0M | $2.5M | $665,000 | $1.3M | $1.5M |
| Short-term debt | $1.5M | $1.4M | $1.3M | $488,000 | $605,000 | $265,000 | $4.8M | $15.0M | $700,000 | — |
| Deferred revenue | — | — | — | — | $9.3M | $3.6M | $29.7M | −$15.0M | — | — |
| Total current liabilities | $41.8M | $35.6M | $27.3M | $22.7M | $14.3M | $14.8M | $43.4M | $4.1M | $4.1M | $3.5M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $10.9M | $15.0M | $6.1M | $0 |
| Lease obligations | $7.9M | $9.0M | $10.9M | $10.4M | $8.3M | $3.3M | $911,000 | — | — | — |
| Other long-term liabilities | $358.1M | $7.6M | $9.6M | $9.9M | $7.7M | $3.0M | $1.5M | $0 | $0 | $70,000 |
| Total liabilities | $399.9M | $43.2M | $36.9M | $32.6M | $22.0M | $17.8M | $55.7M | $19.1M | $10.2M | $3.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $1.60B | $1.46B | $1.44B | $1.07B | $783.2M | $397.7M | $294.2M | $265.9M | $173.8M | $173.2M |
| Retained earnings (deficit) | −$1.25B | −$899.5M | −$665.1M | −$482.7M | −$357.4M | −$278.5M | −$249.7M | −$207.9M | −$173.4M | −$142.7M |
| Treasury stock | — | — | — | — | — | — | — | — | $0 | $0 |
| Accumulated other comprehensive income | $335,000 | −$1.6M | −$77,000 | −$3.0M | −$990,000 | −$990,000 | −$990,000 | −$990,000 | −$990,000 | −$990,000 |
| Minority interest | — | — | — | — | — | — | — | — | $0 | $0 |
| Total shareholders' equity | $581.8M | $754.9M | $927.9M | $721.5M | $550.0M | $171.4M | $92.0M | $103.3M | $35.9M | $63.9M |
| Key figures | ||||||||||
| Total debt | $7.9M | $9.0M | $10.9M | $10.4M | $8.3M | $3.3M | $16.4M | $15.0M | $6.8M | — |
| Net cash (debt) | $540.9M | $617.9M | $627.2M | $581.7M | $543.5M | $173.7M | $124.9M | $104.3M | $36.9M | — |
| Working capital | $518.9M | $599.7M | $617.7M | $577.6M | $544.7M | $167.0M | $101.5M | $117.3M | $40.7M | $62.2M |
| Tangible book value | $581.8M | $754.9M | $927.9M | $721.5M | $550.0M | $171.4M | $92.0M | $103.3M | $35.9M | $63.9M |
| Book value per share | $7.34 | $9.69 | $13.87 | $11.92 | $12.61 | $4.96 | $3.55 | $5.32 | — | — |
| Shares outstanding | 79.3M | 77.9M | 66.9M | 60.5M | 43.6M | 34.5M | 25.9M | 19.4M | — | — |
| Current ratio | 13.42 | 17.85 | 23.65 | 26.44 | 39.03 | 12.30 | 3.34 | 29.48 | 10.98 | 18.68 |
| Quick ratio | 13.17 | 17.66 | 23.43 | 26.12 | 38.72 | 12.10 | 3.28 | 29.03 | 10.80 | 18.30 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.18 | 0.15 | 0.19 | — |
| Equity / assets | 59.3% | 94.6% | 96.2% | 95.7% | 96.2% | 90.6% | 62.3% | 84.4% | 77.9% | 94.7% |
| 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 | $930.7M | $1.09B | $548.9M | $462.3M | $487.5M | $549.6M | $626.9M | $654.0M | $721.5M | $699.6M | $638.1M | $526.7M |
| Cash & equivalents | $119.5M | $545.9M | $199.2M | $104.5M | $135.4M | $116.7M | $142.7M | $87.6M | $136.7M | $58.9M | $148.6M | $99.6M |
| Short-term investments | $811.2M | $548.9M | $349.7M | $357.8M | $352.2M | $433.0M | $484.2M | $566.4M | $584.8M | $640.7M | $489.4M | $427.1M |
| Receivables | $1.6M | $1.2M | $1.4M | $812,000 | $1.1M | $8.6M | $1.5M | $938,000 | $853,000 | $833,000 | $874,000 | $805,000 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $1 | −$805,000 |
| Other current assets | $13.6M | $10.7M | $10.4M | $17.1M | $11.6M | $7.3M | $6.9M | $4.7M | $5.7M | $6.8M | $6.0M | $4.3M |
| Total current assets | $945.9M | $1.11B | $560.6M | $480.1M | $500.3M | $565.5M | $635.3M | $659.6M | $728.1M | $707.2M | $645.0M | $531.0M |
| Property, plant & equipment (net) | $13.2M | $14.6M | $15.3M | $15.8M | $16.5M | $17.3M | $18.2M | $18.4M | $18.7M | $18.3M | $18.8M | $19.7M |
| Goodwill & intangible assets | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $314.4M | $244.9M | $37.2M | $93.0M | $137.3M | $141.5M | $127.5M | $149.3M | $129.1M | $185.8M | $292.8M | $112.4M |
| Other non-current assets | $22.3M | $20.7M | $368.5M | $18.9M | $20.2M | $18.9M | $17.2M | $8.5M | $8.1M | $7.7M | $8.2M | $7.9M |
| Total assets | $1.30B | $1.39B | $981.7M | $607.8M | $674.3M | $743.3M | $798.1M | $835.9M | $884.0M | $919.0M | $964.8M | $671.1M |
| Liabilities | ||||||||||||
| Accounts payable | $2.5M | $5.7M | $3.9M | $4.6M | $4.8M | $6.9M | $5.1M | $5.4M | $9.5M | $6.4M | $8.6M | $6.1M |
| Short-term debt | $1.3M | $1.6M | $1.5M | $1.5M | $1.5M | $1.4M | $1.4M | $1.4M | $1.4M | $1.3M | $1.3M | $1.2M |
| Deferred revenue | — | — | — | — | — | — | — | — | — | — | — | −$6.1M |
| Total current liabilities | $45.0M | $39.8M | $41.8M | $38.3M | $33.0M | $32.0M | $35.6M | $29.7M | $31.3M | $22.2M | $27.3M | $24.7M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $6.4M | $7.5M | $7.9M | $8.3M | $8.7M | $8.7M | $9.0M | $9.8M | $10.0M | $10.4M | $10.9M | $11.0M |
| Other long-term liabilities | $8.4M | $9.2M | $358.1M | $10.0M | $7.3M | $7.3M | $7.6M | $8.4M | $8.7M | $9.1M | $9.6M | $9.8M |
| Total liabilities | $53.4M | $49.0M | $399.9M | $48.3M | $40.3M | $39.3M | $43.2M | $38.1M | $40.0M | $31.3M | $36.9M | $34.5M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $2.43B | $2.42B | $1.60B | $1.48B | $1.47B | $1.46B | $1.46B | $1.44B | $1.44B | $1.44B | $1.44B | $1.12B |
| Retained earnings (deficit) | −$1.46B | −$1.35B | −$1.25B | −$1.14B | −$1.05B | −$964.5M | −$899.5M | −$833.8M | −$771.0M | −$713.1M | −$665.1M | −$620.4M |
| Accumulated other comprehensive income | −$2.7M | −$1.2M | $335,000 | $477,000 | $113,000 | −$836,000 | −$1.6M | $1.3M | −$2.2M | −$1.8M | −$77,000 | −$3.0M |
| Total shareholders' equity | $1.24B | $1.34B | $581.8M | $559.5M | $634.0M | $704.0M | $754.9M | $797.8M | $844.0M | $887.7M | $927.9M | $636.6M |
| Key figures | ||||||||||||
| Total debt | $6.4M | $7.5M | $7.9M | $8.3M | $8.7M | $8.7M | $9.0M | $9.8M | $10.0M | $10.4M | $10.9M | $11.0M |
| Net cash (debt) | $924.3M | $1.09B | $540.9M | $453.9M | $478.8M | $541.0M | $617.9M | $644.2M | $711.5M | $689.2M | $627.2M | $515.7M |
| Working capital | $900.9M | $1.07B | $518.9M | $441.8M | $467.2M | $533.5M | $599.7M | $629.9M | $696.8M | $685.0M | $617.7M | $506.3M |
| Tangible book value | $1.24B | $1.34B | $581.8M | $559.5M | $634.0M | $704.0M | $754.9M | $797.8M | $844.0M | $887.7M | $927.9M | $636.6M |
| Book value per share | $12.47 | $15.32 | $7.34 | $7.06 | $8.03 | $8.95 | $9.63 | $10.24 | $10.87 | $11.44 | $13.26 | $9.65 |
| Shares outstanding | 99.6M | 87.3M | 79.3M | 79.2M | 79.0M | 78.7M | 78.4M | 77.9M | 77.7M | 77.6M | 70.0M | 66.0M |
| Current ratio | 21.02 | 27.79 | 13.42 | 12.52 | 15.14 | 17.66 | 17.85 | 22.21 | 23.27 | 31.82 | 23.65 | 21.46 |
| Quick ratio | 20.71 | 27.53 | 13.17 | 12.08 | 14.79 | 17.43 | 17.66 | 22.06 | 23.09 | 31.52 | 23.43 | 21.32 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 |
| Equity / assets | 95.9% | 96.5% | 59.3% | 92.0% | 94.0% | 94.7% | 94.6% | 95.4% | 95.5% | 96.6% | 96.2% | 94.9% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed February 26, 2026); data from EODHD.
XENE financial position
At the end of fiscal 2025 (December 31, 2025), Xenon Pharmaceuticals had total assets of $981.7 million (up 23.0% from a year earlier), total liabilities of $399.9 million and shareholders' equity of $581.8 million. It held $548.9 million in cash and short-term investments against $7.9 million of debt, a net cash position of $540.9 million. Its current ratio was 13.42. In the latest quarter (ended June 30, 2026) total assets were $1.3 billion and equity $1.2 billion.
Related: XENE income statement, XENE cash flow statement, XENE key metrics. See the XENE stock overview for the latest quote and news.
XENE balance sheet FAQ
What are Xenon Pharmaceuticals's total assets?
Xenon Pharmaceuticals reported total assets of $981.7 million at the end of fiscal 2025 (December 31, 2025), compared with $798.1 million a year earlier.
How much debt does Xenon Pharmaceuticals have?
Xenon Pharmaceuticals had $7.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Xenon Pharmaceuticals have?
Xenon Pharmaceuticals held $548.9 million in cash and short-term investments at the end of fiscal 2025; with $7.9 million of debt that is net cash of $540.9 million.
What is Xenon Pharmaceuticals's book value?
Xenon Pharmaceuticals's shareholders' equity (book value) was $581.8 million at the end of fiscal 2025, or $7.34 per share.
What is Xenon Pharmaceuticals's current ratio?
Xenon Pharmaceuticals had current assets of $560.6 million and current liabilities of $41.8 million, a current ratio of 13.42 (it can cover its short-term obligations).