YPF Sociedad Anónima (YPF) Balance Sheet

NYSE: YPFAssets, liabilities, debt and equity over 10 years.

YPF balance sheet, 2025

December 31, 2025 · Argentine pesos

ARS 42.72T assets = ARS 26.69T liabilities + ARS 16.02T equity

Both columns are drawn to the same scale: what YPF owns equals what it owes plus shareholders’ equity. Hover a block for its value.

YPF financial health

Current ratio0.87

Tight · current assets cover current liabilities 0.87×

Debt / equity1.03

Moderate leverage · ARS 1.03 of debt for each $1 of equity

Equity / assets36.7%

Balanced · of assets funded by shareholders

Cash / debt10.7%

Low cash cover · cash & short-term investments vs total debt

Goodwill & intangibles1.5%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

YPF balance sheet trends, 2016–2025

YPF Sociedad Anónima balance sheet trends
Metric	Then	Latest	Change
Total assets	ARS 26.52B2016	ARS 42.72T2025	+127.2%/yr
Total liabilities	ARS 19.05B2016	ARS 26.69T2025	+123.7%/yr
Shareholders’ equity	ARS 7.48B2016	ARS 15.69T2025	+133.9%/yr
Cash & short-term investments	ARS 1.15B2016	ARS 1.73T2025	+125.4%/yr
Total debt	ARS 9.72B2016	ARS 16.18T2025	+128.0%/yr
Net cash (debt)	−ARS 8.57B2016	−ARS 14.45T2025	ARS 14.4T
Working capital	ARS 299.8M2016	−ARS 1.40T2025	ARS 1.4T
Current ratio	1.062016	0.872025	−0.19
Debt / equity	1.302016	1.032025	−0.27
Shares outstanding	391.5M2016	392.0M2025	+0.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

YPF assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

YPF liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

YPF debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

YPF balance sheet in Argentine pesos

YPF Sociedad Anónima annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	ARS 1.73T	ARS 1.55T	ARS 995.29B	ARS 193.36B	ARS 1.07B	ARS 957.1M	ARS 1.75B	ARS 2.81B	ARS 2.27B	ARS 1.15B
Cash & equivalents	ARS 1.35T	ARS 1.15T	ARS 805.85B	ARS 136.87B	ARS 590.5M	ARS 625.6M	ARS 1.55B	ARS 2.27B	ARS 1.56B	ARS 677.4M
Short-term investments	ARS 380.16B	ARS 401.70B	ARS 189.44B	ARS 56.49B	ARS 480.6M	ARS 331.4M	ARS 196.7M	ARS 539.8M	ARS 703.2M	ARS 475.3M
Receivables	ARS 3.88T	ARS 2.15T	ARS 885.50B	ARS 373.12B	ARS 1.64B	ARS 1.50B	ARS 3.32B	ARS 4.34B	ARS 2.74B	ARS 2.79B
Inventory	ARS 2.10T	ARS 1.59T	ARS 1.21T	ARS 1.74B	ARS 14.1M	ARS 13.6M	ARS 1.89B	ARS 2.63B	ARS 76.8M	ARS 85.5M
Other current assets	ARS 1.69T	ARS 1.70T	ARS 93.29B	ARS 342.49B	ARS 1.67B	ARS 1.28B	ARS 311.8M	ARS 502.2M	ARS 1.57B	ARS 1.46B
Total current assets	ARS 9.40T	ARS 7.00T	ARS 3.18T	ARS 910.71B	ARS 4.39B	ARS 3.75B	ARS 7.27B	ARS 10.28B	ARS 6.65B	ARS 5.49B
Property, plant & equipment (net)	ARS 29.39T	ARS 20.18T	ARS 13.24T	ARS 3.20T	ARS 15.97B	ARS 16.31B	ARS 26.57B	ARS 34.49B	ARS 19.27B	ARS 19.40B
Goodwill & intangible assets	ARS 626.83B	ARS 897.88B	ARS 480.68B	ARS 68.05B	ARS 405.3M	ARS 448.1M	ARS 873.8M	ARS 27.31B	ARS 542.3M	ARS 511.0M
Long-term investments	ARS 1.61B	ARS 1.96B	ARS 1.68B	ARS 372.84B	ARS 159.46B	ARS 107.11B	ARS 67.59B	ARS 32.69B	ARS 6.04B	ARS 13.22B
Other non-current assets	ARS 3.30T	ARS 2.20T	ARS 1.06T	ARS 40.51B	ARS 0	ARS 0	ARS 0	ARS 0	ARS 0	ARS 0
Total assets	ARS 42.72T	ARS 30.27T	ARS 17.96T	ARS 4.59T	ARS 22.52B	ARS 22.03B	ARS 36.98B	ARS 49.04B	ARS 27.49B	ARS 26.52B
Liabilities
Accounts payable	ARS 3.15T	ARS 2.90T	ARS 1.64T	ARS 2.50B	ARS 17.7M	ARS 18.6M	ARS 57.3M	ARS 4.02B	ARS 44.66B	ARS 159.5M
Short-term debt	ARS 3.85T	ARS 2.31T	ARS 1.33T	ARS 253.87B	ARS 1.07B	ARS 1.98B	ARS 3.02B	ARS 1.72B	ARS 39.34B	ARS 1.69B
Deferred revenue	ARS 404.83B	ARS 75.19B	ARS 49.51B	ARS 77.0M	ARS 1.2M	ARS 927,855	ARS 2.9M	ARS 6.5M	ARS 4.1M	ARS 54,919
Total current liabilities	ARS 10.80T	ARS 8.94T	ARS 3.53T	ARS 846.90B	ARS 3.68B	ARS 4.25B	ARS 7.40B	ARS 8.83B	ARS 5.58B	ARS 5.19B
Long-term debt	ARS 12.33T	ARS 7.67T	ARS 5.65T	ARS 1.10T	ARS 698.87B	ARS 551.75B	ARS 460.04B	ARS 270.25B	ARS 151.73B	ARS 127.57B
Lease obligations	ARS 571.0M	ARS 776.0M	ARS 666.0M	ARS 100.28B	ARS 55.62B	ARS 46.27B	ARS 61.78B	ARS 0	ARS 0	ARS 0
Other long-term liabilities	ARS 3.56T	ARS 1.44T	ARS 2.29T	ARS 771.53B	ARS 0	ARS 0	ARS 0	ARS 0	ARS 0	ARS 0
Total liabilities	ARS 26.69T	ARS 18.05T	ARS 11.47T	ARS 2.72T	ARS 14.53B	ARS 14.20B	ARS 24.09B	ARS 31.16B	ARS 19.20B	ARS 19.05B
Shareholders' equity
Common stock & paid-in capital	ARS 5.69T	ARS 4.04T	ARS 2.81T	ARS 6.31B	ARS 99.0M	ARS 45.0M	ARS 248.5M	ARS 518.9M	ARS 565.4M	ARS 247.1M
Retained earnings (deficit)	ARS 9.16T	ARS 7.36T	ARS 3.19T	ARS 843.51B	−ARS 529.6M	ARS 4.03B	−ARS 31.57B	ARS 38.31B	ARS 12.34B	−ARS 1.65B
Treasury stock	—	—	—	—	−ARS 534.0M	−ARS 125.0M	−ARS 194.0M	−ARS 244.0M	−ARS 66.0M	−ARS 126.0M
Accumulated other comprehensive income	ARS 17.41B	ARS 11.33B	ARS 10.05B	ARS 1.01T	ARS 7.81B	ARS 3.68B	ARS 12.50B	ARS 17.20B	ARS 7.71B	ARS 8.85B
Minority interest	ARS 230.0M	ARS 218.0M	ARS 102.0M	ARS 98.0M	—	—	ARS 0	ARS 0	ARS 0	ARS 0
Total shareholders' equity	ARS 15.69T	ARS 12.00T	ARS 6.42T	ARS 1.85T	ARS 7.91B	ARS 7.76B	ARS 12.75B	ARS 17.72B	ARS 8.28B	ARS 7.48B
Key figures
Total debt	ARS 16.18T	ARS 9.98T	ARS 6.35T	ARS 1.36T	ARS 7.66B	ARS 8.30B	ARS 13.83B	ARS 8.90B	ARS 191.06B	ARS 9.72B
Net cash (debt)	−ARS 14.45T	−ARS 8.42T	−ARS 5.36T	−ARS 1.16T	−ARS 6.59B	−ARS 7.34B	−ARS 12.08B	−ARS 6.09B	−ARS 188.80B	−ARS 8.57B
Working capital	−ARS 1.40T	−ARS 1.94T	−ARS 348.75B	ARS 63.80B	ARS 708.2M	−ARS 493.7M	−ARS 128.1M	ARS 1.45B	ARS 1.06B	ARS 299.8M
Tangible book value	ARS 15.06T	ARS 11.10T	ARS 5.94T	ARS 1.78T	ARS 7.51B	ARS 7.31B	ARS 11.88B	−ARS 9.59B	ARS 7.74B	ARS 6.97B
Shares outstanding	392.0M	392.1M	391.7M	392.7M	392.8M	392.5M	392.3M	392.3M	392.6M	391.5M
Current ratio	0.87	0.78	0.90	1.08	1.19	0.88	0.98	1.16	1.19	1.06
Quick ratio	0.52	0.41	0.53	0.67	0.74	0.58	0.68	0.81	0.90	0.76
Debt / equity	1.03	0.83	0.99	0.73	0.97	1.07	1.08	0.50	23.08	1.30
Equity / assets	36.7%	39.6%	35.7%	40.3%	35.1%	35.2%	34.5%	36.1%	30.1%	28.2%

YPF Sociedad Anónima quarterly balance sheet
	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	ARS 1.73T	ARS 1.45T	ARS 1.25T	ARS 1.33T	ARS 1.55T	ARS 1.16T	ARS 1.27T	ARS 1.37T	ARS 995.29B	ARS 516.22B
Cash & equivalents	ARS 1.35T	ARS 1.14T	ARS 953.35B	ARS 1.01T	ARS 1.15T	ARS 851.57B	ARS 948.35B	ARS 1.12T	ARS 805.85B	ARS 452.75B
Short-term investments	ARS 380.16B	ARS 309.77B	ARS 291.92B	ARS 314.94B	ARS 401.70B	ARS 308.78B	ARS 321.58B	ARS 248.67B	ARS 189.44B	ARS 63.46B
Receivables	ARS 3.88T	ARS 3.51T	ARS 2.91T	ARS 2.27T	ARS 2.15T	ARS 2.27T	ARS 1.58T	ARS 1.22T	ARS 885.50B	ARS 630.78B
Inventory	ARS 2.10T	ARS 2.18T	ARS 1.83T	ARS 1.74T	ARS 1.59T	ARS 1.66T	ARS 1.44T	ARS 1.35T	ARS 1.21T	ARS 670.14B
Other current assets	ARS 1.69T	ARS 857.92B	ARS 796.92B	ARS 1.83T	ARS 1.70T	ARS 2.15T	ARS 2.19T	ARS 1.97T	ARS 93.29B	ARS 9.19B
Total current assets	ARS 9.40T	ARS 8.00T	ARS 6.77T	ARS 7.18T	ARS 7.00T	ARS 7.24T	ARS 6.48T	ARS 5.91T	ARS 3.18T	ARS 1.83T
Property, plant & equipment (net)	ARS 29.39T	ARS 29.76T	ARS 24.87T	ARS 21.36T	ARS 20.18T	ARS 18.22T	ARS 16.49T	ARS 14.94T	ARS 13.24T	ARS 19.18B
Goodwill & intangible assets	ARS 626.83B	ARS 599.55B	ARS 513.63B	ARS 433.59B	ARS 897.88B	ARS 288.39B	ARS 607.79B	ARS 228.95B	−ARS 138.17B	ARS 129.78B
Long-term investments	ARS 1.61B	ARS 1.92B	ARS 1.91B	ARS 2.10B	ARS 1.96B	ARS 1.86B	ARS 1.75B	ARS 1.84B	ARS 1.68B	ARS 646.27B
Other non-current assets	ARS 3.30T	ARS 3.85T	ARS 3.58T	ARS 3.08T	ARS 2.20T	ARS 2.18T	ARS 1.51T	ARS 1.77T	ARS 1.68T	ARS 6.76T
Total assets	ARS 42.72T	ARS 42.21T	ARS 35.74T	ARS 32.05T	ARS 30.27T	ARS 27.92T	ARS 25.09T	ARS 22.85T	ARS 17.96T	ARS 9.38T
Liabilities
Accounts payable	ARS 3.15T	ARS 3.40T	ARS 3.20T	ARS 2.86T	ARS 2.90T	ARS 2.84T	ARS 2.32T	ARS 2.07T	ARS 1.64T	ARS 2.81B
Short-term debt	ARS 3.85T	ARS 4.23T	ARS 3.20T	ARS 2.56T	ARS 2.31T	ARS 2.07T	ARS 1.79T	ARS 1.62T	ARS 1.33T	ARS 641.64B
Deferred revenue	ARS 404.83B	ARS 167.02B	ARS 140.42B	ARS 89.52B	ARS 75.19B	ARS 74.77B	ARS 61.95B	ARS 46.30B	ARS 49.51B	ARS 138.1M
Total current liabilities	ARS 10.80T	ARS 10.71T	ARS 9.05T	ARS 9.08T	ARS 8.94T	ARS 8.25T	ARS 6.95T	ARS 6.23T	ARS 3.53T	ARS 1.93T
Long-term debt	ARS 12.33T	ARS 11.38T	ARS 9.55T	ARS 7.54B	ARS 7.67T	ARS 6.94T	ARS 6.82T	ARS 7.24B	ARS 6.68B	ARS 2.31T
Lease obligations	ARS 571.0M	ARS 625.0M	ARS 709.0M	ARS 693.0M	ARS 776.0M	ARS 586.0M	ARS 603.0M	ARS 648.0M	ARS 666.0M	ARS 187.14B
Other long-term liabilities	ARS 3.56T	ARS 3.52T	ARS 2.45T	ARS 10.12T	ARS 1.44T	ARS 953.64B	ARS 1.66T	ARS 8.07T	ARS 7.93T	ARS 1.25T
Total liabilities	ARS 26.69T	ARS 25.60T	ARS 21.05T	ARS 19.21T	ARS 18.05T	ARS 16.14T	ARS 15.43T	ARS 14.30T	ARS 11.47T	ARS 5.50T
Shareholders' equity
Common stock & paid-in capital	ARS 5.69T	ARS 5.61T	ARS 4.83T	ARS 4.23T	ARS 4.04T	ARS 3.81T	ARS 3.57T	ARS 3.36T	ARS 2.81T	ARS 3.92B
Retained earnings (deficit)	ARS 9.16T	ARS 9.86T	ARS 8.85T	ARS 7.73T	ARS 7.36T	ARS 7.21T	ARS 5.39T	ARS 4.55T	ARS 3.19T	ARS 2.44T
Accumulated other comprehensive income	ARS 17.41B	ARS 7.14B	ARS 13.55B	ARS 11.86B	ARS 11.33B	ARS 10.68B	ARS 12.75B	ARS 12.00B	ARS 10.05B	ARS 1.40T
Minority interest	ARS 230.0M	ARS 222.0M	ARS 230.0M	—	—	—	—	—	—	—
Total shareholders' equity	ARS 15.69T	ARS 16.29T	ARS 14.40T	ARS 12.59T	ARS 12.00T	ARS 11.58T	ARS 9.49T	ARS 8.41T	ARS 6.42T	ARS 3.84T
Key figures
Total debt	ARS 16.18T	ARS 16.04T	ARS 13.00T	ARS 11.07T	ARS 9.98T	ARS 9.02T	ARS 8.61T	ARS 8.10T	ARS 6.35T	ARS 3.04T
Net cash (debt)	−ARS 14.45T	−ARS 14.59T	−ARS 11.75T	−ARS 9.74T	−ARS 8.42T	−ARS 7.86T	−ARS 7.34T	−ARS 6.73T	−ARS 5.36T	−ARS 2.52T
Working capital	−ARS 1.40T	−ARS 2.71T	−ARS 2.27T	−ARS 1.90T	−ARS 1.94T	−ARS 1.01T	−ARS 461.88B	−ARS 317.27B	−ARS 348.75B	−ARS 106.36B
Tangible book value	ARS 15.06T	ARS 15.69T	ARS 13.89T	ARS 12.16T	ARS 11.10T	ARS 11.29T	ARS 8.88T	ARS 8.19T	ARS 6.56T	ARS 3.71T
Shares outstanding	391.6M	388.7M	384.6M	400.0M	391.9M	392.0M	393.2M	391.0M	390.6M	390.6M
Current ratio	0.87	0.75	0.75	0.79	0.78	0.88	0.93	0.95	0.90	0.94
Quick ratio	0.52	0.46	0.46	0.40	0.41	0.42	0.41	0.42	0.53	0.59
Debt / equity	1.03	0.98	0.90	0.88	0.83	0.78	0.91	0.96	0.99	0.79
Equity / assets	36.7%	38.6%	40.3%	39.3%	39.6%	41.5%	37.8%	36.8%	35.7%	40.9%

Quarterly columns are labeled by the month the quarter ended. Figures in Argentine pesos as reported (latest annual report filed March 26, 2026); data from EODHD.

YPF financial position

At the end of fiscal 2025 (December 31, 2025), YPF Sociedad Anónima had total assets of ARS 42.72 trillion (up 41.1% from a year earlier), total liabilities of ARS 26.69 trillion and shareholders' equity of ARS 15.69 trillion. It held ARS 1.73 trillion in cash and short-term investments against ARS 16.18 trillion of debt, net debt of ARS 14.45 trillion. Its current ratio was 0.87.

Related: YPF income statement, YPF cash flow statement, YPF key metrics. See the YPF stock overview for the latest quote and news.

YPF balance sheet FAQ

What are YPF Sociedad Anónima's total assets?

YPF Sociedad Anónima reported total assets of ARS 42.72 trillion at the end of fiscal 2025 (December 31, 2025), compared with ARS 30.27 trillion a year earlier.

How much debt does YPF Sociedad Anónima have?

YPF Sociedad Anónima had ARS 16.18 trillion of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 1.03.

How much cash does YPF Sociedad Anónima have?

YPF Sociedad Anónima held ARS 1.73 trillion in cash and short-term investments at the end of fiscal 2025; with ARS 16.18 trillion of debt that is net debt of ARS 14.45 trillion.

What is YPF Sociedad Anónima's book value?

YPF Sociedad Anónima's shareholders' equity (book value) was ARS 15.69 trillion at the end of fiscal 2025.

What is YPF Sociedad Anónima's current ratio?

YPF Sociedad Anónima had current assets of ARS 9.40 trillion and current liabilities of ARS 10.80 trillion, a current ratio of 0.87 (current liabilities exceed current assets).

How much goodwill does YPF Sociedad Anónima have?

YPF Sociedad Anónima carried ARS 626.8 billion of goodwill and intangible assets, 1.5% of total assets, at the end of fiscal 2025.