ZenaTech Inc. (ZENA) Balance Sheet

NASDAQ: ZENAAssets, liabilities, debt and equity over 6 years.

ZENA balance sheet, 2025

December 31, 2025 · Canadian dollars

C$99.9M assets = C$31.8M liabilities + C$68.0M equity

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

ZENA financial health

Current ratio2.22

Comfortable · current assets cover current liabilities 2.22×

Debt / equity0.32

Low leverage · C$0.32 of debt for each $1 of equity

Equity / assets68.1%

Equity-funded · of assets funded by shareholders

Cash / debt70.3%

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

Goodwill & intangibles29.2%

Acquisition-heavy · of total assets

Descriptive bands, not a rating. Fiscal 2025.

ZENA balance sheet trends, 2020–2025

ZenaTech Inc. balance sheet trends
Metric	Then	Latest	Change
Total assets	C$4.3M2020	C$99.9M2025	+87.4%/yr
Total liabilities	C$942,4562020	C$31.8M2025	+102.2%/yr
Shareholders’ equity	C$3.4M2020	C$68.0M2025	+82.3%/yr
Cash & short-term investments	C$94,4852020	C$15.1M2025	+175.8%/yr
Total debt	C$679,8042020	C$21.5M2025	+99.5%/yr
Net cash (debt)	−C$585,3192020	−C$6.4M2025	−C$5.8M
Working capital	C$495,0962020	C$18.3M2025	+C$17.8M
Current ratio	3.002020	2.222025	−0.78
Debt / equity	0.202020	0.322025	+0.11
Shares outstanding	16.8M2020	34.2M2025	+15.2%/yr

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

ZENA assets

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

ZENA liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

ZENA debt vs cash

Total debtCash & ST investmentsNet cash (debt)

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

ZENA balance sheet in Canadian dollars

ZenaTech Inc. annual balance sheet
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	C$15.1M	C$3.8M	C$1,184	C$200,792	C$1.2M	C$94,485
Cash & equivalents	C$6.0M	C$3.8M	C$1,184	C$200,792	C$1.2M	C$94,485
Short-term investments	C$9.1M	C$0	—	—	—	—
Receivables	C$4.9M	C$206,434	C$46,448	C$121,116	C$243,081	C$431,439
Inventory	C$2.8M	C$0	C$0	C$0	C$0	C$0
Other current assets	C$10.4M	C$2.3M	C$2.5M	C$2.5M	C$2.4M	C$216,125
Total current assets	C$33.2M	C$6.3M	C$2.6M	C$2.9M	C$3.8M	C$742,049
Property, plant & equipment (net)	C$15.8M	C$627,255	C$281,819	C$42,001	C$55,141	C$3,128
Goodwill & intangible assets	C$29.2M	C$9.6M	C$8.6M	C$8.2M	C$5.4M	C$2.9M
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$21.7M	C$18.2M	C$5.0M	C$2.4M	C$784,872	C$666,792
Total assets	C$99.9M	C$34.6M	C$16.5M	C$13.5M	C$10.0M	C$4.3M
Liabilities
Accounts payable	C$9.1M	C$1.4M	—	C$157,311	C$251,846	C$33,811
Short-term debt	C$4.6M	C$183,675	C$183,192	C$135,296	—	—
Deferred revenue	C$1.3M	—	C$603,875	C$827,211	C$857,053	C$213,142
Total current liabilities	C$15.0M	C$2.9M	C$1.1M	C$1.1M	C$1.7M	C$246,953
Long-term debt	C$13.6M	C$9.8M	C$7.9M	C$4.8M	C$4.7M	C$679,804
Lease obligations	C$4.2M	C$211,344	C$245,663	C$0	—	—
Other long-term liabilities	C$3.3M	C$152,365	C$194,565	C$14,173	C$9,936	C$15,699
Total liabilities	C$31.8M	C$12.8M	C$9.1M	C$6.0M	C$6.4M	C$942,456
Shareholders' equity
Common stock & paid-in capital	C$16.2M	C$9.3M	C$5.1M	C$5.1M	C$4.6M	C$4.5M
Retained earnings (deficit)	−C$53.8M	−C$8.5M	−C$4.0M	−C$3.8M	−C$3.8M	−C$3.6M
Accumulated other comprehensive income	−C$57.0M	C$397,061	−C$36,787	−C$19,458	−C$26,074	−C$35,225
Total shareholders' equity	C$68.0M	C$21.8M	C$7.3M	C$7.6M	C$3.6M	C$3.4M
Key figures
Total debt	C$21.5M	C$10.1M	C$8.2M	C$5.0M	C$4.7M	C$679,804
Net cash (debt)	−C$6.4M	−C$6.4M	−C$8.2M	−C$4.8M	−C$3.5M	−C$585,319
Working capital	C$18.3M	C$3.4M	C$1.5M	C$1.8M	C$2.1M	C$495,096
Tangible book value	C$38.9M	C$12.2M	−C$1.3M	−C$676,607	−C$1.8M	C$469,513
Shares outstanding	34.2M	18.4M	16.8M	16.8M	16.8M	16.8M
Current ratio	2.22	2.17	2.39	2.56	2.28	3.00
Quick ratio	1.34	1.37	0.04	0.29	0.86	2.13
Debt / equity	0.32	0.46	1.13	0.66	1.29	0.20
Equity / assets	68.1%	63.0%	44.5%	55.9%	36.3%	78.2%

ZenaTech Inc. quarterly balance sheet
	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	C$34.6M	C$15.0M	C$15.1M	C$19.5M	C$10.3M	C$2.8M	C$3.8M	C$130,843	C$30,569	C$147,828	C$1,184	C$4,858
Cash & equivalents	C$12.3M	C$8.5M	C$6.0M	C$10.3M	C$10.3M	C$2.8M	C$3.8M	C$130,843	C$30,569	C$147,828	C$1,184	C$4,858
Short-term investments	C$22.4M	C$6.4M	C$9.1M	C$9.3M	—	—	C$0	—	—	—	—	—
Receivables	C$5.2M	C$4.5M	C$4.2M	C$2.9M	C$1.6M	C$376,955	C$206,434	C$1,327	C$656,983	C$2.3M	C$46,448	C$32,156
Inventory	C$4.4M	C$2.5M	C$2.8M	C$1.2M	C$0	C$0	C$0	C$0	C$1	C$0	C$0	C$0
Other current assets	C$14.2M	C$16.6M	C$11.1M	C$5.3M	C$3.4M	C$2.2M	C$2.3M	C$2.2M	C$2.6M	C$675,967	C$2.5M	C$2.5M
Total current assets	C$58.4M	C$38.6M	C$33.2M	C$28.9M	C$15.3M	C$5.3M	C$6.3M	C$2.4M	C$3.3M	C$3.1M	C$2.6M	C$2.6M
Property, plant & equipment (net)	C$25.1M	C$17.9M	C$17.5M	C$7.0M	C$3.8M	C$1.9M	C$627,255	C$274,744	C$257,114	C$271,174	C$281,819	C$303,599
Goodwill & intangible assets	C$40.6M	C$29.8M	C$29.1M	C$19.1M	C$14.2M	C$11.1M	C$9.6M	C$9.0M	C$9.0M	C$8.8M	C$8.6M	C$8.6M
Long-term investments	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0	C$0
Other non-current assets	C$25.4M	C$23.1M	C$19.9M	C$23.6M	C$19.6M	C$19.8M	C$18.2M	C$10.3M	C$6.8M	C$6.0M	C$5.0M	C$4.5M
Total assets	C$149.5M	C$109.4M	C$99.8M	C$78.6M	C$52.9M	C$38.1M	C$34.6M	C$22.0M	C$19.3M	C$18.2M	C$16.5M	C$15.9M
Liabilities
Accounts payable	C$9.5M	C$8.9M	—	C$4.0M	C$1.4M	C$3.0M	C$1.4M	C$598,132	C$573,092	C$469,975	—	—
Short-term debt	C$6.1M	C$4.6M	—	C$110,085	C$57,522	C$131,426	C$183,675	C$188,642	C$190,782	C$187,772	C$183,192	C$186,657
Deferred revenue	C$1.8M	C$1.1M	—	—	C$782,472	C$860,476	—	C$726,692	—	C$412,571	C$603,875	C$626,171
Total current liabilities	C$34.0M	C$14.6M	C$15.0M	C$5.3M	C$2.3M	C$4.0M	C$2.9M	C$1.5M	C$2.1M	C$1.1M	C$1.1M	C$1.0M
Long-term debt	C$0	C$7.1M	C$13.6M	C$31.3M	C$18.7M	C$15.4M	C$9.8M	C$9.2M	C$0	C$8.9M	C$7.9M	C$7.6M
Lease obligations	—	C$5.8M	C$4.2M	C$779,842	C$172,484	C$201,807	C$211,344	C$215,898	—	C$242,669	C$245,663	C$271,042
Other long-term liabilities	C$24.0M	C$4.6M	C$3.3M	C$669,757	C$114,962	C$142,215	C$152,365	C$161,696	C$9.4M	C$189,898	C$194,565	C$218,755
Total liabilities	C$58.0M	C$26.3M	C$31.8M	C$37.3M	C$21.0M	C$19.5M	C$12.8M	C$10.9M	C$11.5M	C$10.2M	C$9.1M	C$8.9M
Shareholders' equity
Common stock & paid-in capital	C$33.5M	C$24.1M	—	C$11.4M	C$12.2M	C$9.5M	C$9.3M	C$5.2M	C$5.1M	C$5.1M	C$5.1M	C$5.1M
Retained earnings (deficit)	−C$103.0M	−C$80.2M	−C$53.7M	−C$31.5M	−C$19.3M	−C$13.1M	−C$8.5M	−C$5.1M	−C$4.4M	−C$4.2M	−C$4.0M	−C$4.3M
Accumulated other comprehensive income	−C$161.6M	−C$124.3M	—	−C$54.1M	−C$281,862	C$394,944	−C$47.0M	−C$121,833	−C$12,539	−C$19,232	−C$36,787	−C$36,244
Total shareholders' equity	C$91.5M	C$83.1M	C$68.0M	C$41.2M	C$31.9M	C$18.6M	C$21.8M	C$11.1M	C$7.8M	C$8.0M	C$7.3M	C$7.0M
Key figures
Total debt	C$30.0M	C$16.3M	C$13.6M	C$32.1M	C$18.8M	C$15.7M	C$10.1M	C$9.5M	C$9.6M	C$9.3M	C$8.2M	C$8.0M
Net cash (debt)	C$4.6M	−C$1.4M	C$1.5M	−C$12.6M	−C$8.6M	−C$12.9M	−C$6.4M	−C$9.4M	−C$9.6M	−C$9.1M	−C$8.2M	−C$8.0M
Working capital	C$24.4M	C$24.0M	C$18.3M	C$23.6M	C$13.0M	C$1.3M	C$3.4M	C$858,559	C$1.2M	C$2.0M	C$1.5M	C$1.5M
Tangible book value	C$50.9M	C$53.3M	C$38.8M	C$22.1M	C$17.7M	C$7.5M	C$12.2M	C$2.1M	−C$1.2M	−C$776,159	−C$1.3M	−C$1.5M
Shares outstanding	81.0M	34.2M	48.0M	36.6M	31.6M	22.8M	22.5M	17.1M	17.0M	17.0M	16.8M	16.8M
Current ratio	1.72	2.64	2.22	5.42	6.78	1.34	2.17	1.57	1.55	2.89	2.39	2.44
Quick ratio	1.17	1.33	1.29	4.19	5.27	0.79	1.37	0.09	0.33	2.26	0.04	0.04
Debt / equity	0.33	0.20	0.20	0.78	0.59	0.84	0.46	0.86	1.23	1.15	1.13	1.14
Equity / assets	61.2%	76.0%	68.1%	52.5%	60.2%	48.8%	63.0%	50.6%	40.4%	44.2%	44.5%	44.2%

Quarterly columns are labeled by the month the quarter ended. Figures in Canadian dollars as reported (latest annual report filed April 29, 2026); data from EODHD.

ZENA financial position

At the end of fiscal 2025 (December 31, 2025), ZenaTech had total assets of C$99.9 million (up 188.2% from a year earlier), total liabilities of C$31.8 million and shareholders' equity of C$68.0 million. It held C$15.1 million in cash and short-term investments against C$21.5 million of debt, net debt of C$6.4 million. Its current ratio was 2.22. In the latest quarter (ended June 30, 2026) total assets were C$149.5 million and equity C$91.5 million.

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

ZENA balance sheet FAQ

What are ZenaTech's total assets?

ZenaTech reported total assets of C$99.9 million at the end of fiscal 2025 (December 31, 2025), compared with C$34.6 million a year earlier.

How much debt does ZenaTech have?

ZenaTech had C$21.5 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.32.

How much cash does ZenaTech have?

ZenaTech held C$15.1 million in cash and short-term investments at the end of fiscal 2025; with C$21.5 million of debt that is net debt of C$6.4 million.

What is ZenaTech's book value?

ZenaTech's shareholders' equity (book value) was C$68.0 million at the end of fiscal 2025.

What is ZenaTech's current ratio?

ZenaTech had current assets of C$33.2 million and current liabilities of C$15.0 million, a current ratio of 2.22 (it can cover its short-term obligations).

How much goodwill does ZenaTech have?

ZenaTech carried C$29.2 million of goodwill and intangible assets, 29.2% of total assets, at the end of fiscal 2025.