Z Squared Inc. (ZSQR) Balance Sheet
ZSQR balance sheet, 2025
December 31, 2025 · U.S. dollars$19.8M assets = $2.1M liabilities + $17.8M equity
Both columns are drawn to the same scale: what ZSQR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
ZSQR financial health
Descriptive bands, not a rating. Fiscal 2025.
ZSQR balance sheet trends, 2019–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $171,5452019 | $19.8M2025 | +120.7%/yr | |
| Total liabilities | $155,8522019 | $2.1M2025 | +54.1%/yr | |
| Shareholders’ equity | $15,6922019 | $17.2M2025 | +221.3%/yr | |
| Cash & short-term investments | $5052019 | $6.4M2025 | +382.2%/yr | |
| Total debt | $152,6442019 | $268,8752025 | +9.9%/yr | |
| Net cash (debt) | −$152,1392019 | $6.1M2025 | +$6.2M | |
| Working capital | −$155,3472019 | $5.6M2025 | +$5.7M | |
| Current ratio | 0.002019 | 4.162025 | +4.15 | |
| Debt / equity | 9.732019 | 0.022025 | −9.71 |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
ZSQR assets
ZSQR liabilities and equity
ZSQR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
ZSQR balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $6.4M | $532,885 | $1.5M | $3.8M | $2.2M | $907,184 | $505 |
| Cash & equivalents | $5.7M | $532,885 | $1.5M | $3.8M | $2.2M | $907,184 | $505 |
| Short-term investments | $676,596 | — | — | — | — | — | — |
| Receivables | $7,348 | $0 | $38,978 | $8,075 | $0 | $0 | $0 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $991,903 | $518,407 | $241,601 | $142,356 | $0 | $51,815 | $0 |
| Total current assets | $7.4M | $1.1M | $1.7M | $3.9M | $2.2M | $958,999 | $505 |
| Property, plant & equipment (net) | $28,272 | $70,243 | $108,877 | $71,456 | $31,850 | $0 | $0 |
| Goodwill & intangible assets | $915,417 | $2.1M | $2.6M | $3.6M | $4.6M | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $11.5M | $7.8M | $3.7M | $348,333 | $1 | $75.8M | $171,040 |
| Total assets | $19.8M | $11.0M | $8.1M | $7.9M | $6.8M | $76.7M | $171,545 |
| Liabilities | |||||||
| Accounts payable | $888,755 | $1.3M | $1.4M | $99,021 | $134,092 | — | $450 |
| Short-term debt | $118,875 | $1.2M | $1.0M | $1.9M | $2.4M | — | $152,644 |
| Deferred revenue | — | — | — | — | — | — | $2,758 |
| Total current liabilities | $1.8M | $4.5M | $3.0M | $2.2M | $2.8M | $5,000 | $155,852 |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $317,625 | $528,125 | $768,428 | $1.3M | $1.6M | $22.9M | $0 |
| Total liabilities | $2.1M | $5.0M | $3.8M | $3.5M | $4.4M | $23.0M | $155,852 |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $575 | $212 | $3,533 | $1,957 | $1,196 | $75.8M | $25,000 |
| Retained earnings (deficit) | −$110.0M | −$98.0M | −$87.4M | −$66.1M | −$27.6M | −$22.0M | −$9,307 |
| Accumulated other comprehensive income | — | $541,875 | — | — | — | — | — |
| Total shareholders' equity | $17.2M | $5.5M | $4.3M | $4.5M | $2.4M | $53.8M | $15,692 |
| Key figures | |||||||
| Total debt | $268,875 | $1.4M | $1.2M | $2.1M | $4.1M | — | $152,644 |
| Net cash (debt) | $6.1M | −$866,168 | $244,908 | $1.7M | −$1.9M | — | −$152,139 |
| Working capital | $5.6M | −$3.5M | −$1.2M | $1.8M | −$585,384 | $953,999 | −$155,347 |
| Tangible book value | $16.3M | $3.4M | $1.8M | $899,162 | −$2.2M | $53.8M | $15,692 |
| Current ratio | 4.16 | 0.23 | 0.59 | 1.81 | 0.79 | 191.80 | 0.00 |
| Quick ratio | 3.60 | 0.12 | 0.50 | 1.75 | 0.79 | 181.44 | 0.00 |
| Debt / equity | 0.02 | 0.26 | 0.28 | 0.46 | 1.74 | — | 9.73 |
| Equity / assets | 86.9% | 49.8% | 53.4% | 56.3% | 34.7% | 70.1% | 9.1% |
| 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 | $15.5M | $5.3M | $6.4M | $5.3M | $3.0M | $4.3M | $532,885 | $1.1M | $1.6M | $1.0M | $1.5M | $1.4M |
| Cash & equivalents | $15.5M | $5.2M | $5.7M | $4.9M | $2.0M | $4.3M | $532,885 | $1.1M | $1.6M | $1.0M | $1.5M | $1.4M |
| Short-term investments | — | $50,551 | $676,596 | $421,698 | $990,566 | — | — | — | — | — | — | — |
| Receivables | $0 | $15,287 | $7,348 | $86,041 | $30,000 | $0 | $0 | $0 | $191,082 | $108,581 | $38,978 | $833 |
| Inventory | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $33,341 | $631,082 | $991,903 | $574,636 | $677,643 | $382,628 | $518,407 | $227,221 | $244,776 | $241,961 | $241,601 | $208,133 |
| Total current assets | $15.5M | $5.9M | $7.4M | $6.0M | $3.7M | $4.7M | $1.1M | $1.4M | $2.0M | $1.4M | $1.7M | $1.6M |
| Property, plant & equipment (net) | $11.3M | $98,978 | $28,272 | $39,124 | $49,731 | $60,102 | $70,243 | $80,226 | $89,987 | $99,536 | $108,877 | $40,291 |
| Goodwill & intangible assets | $107.4M | $620,261 | $915,417 | $1.2M | $1.5M | $1.8M | $2.1M | $1.8M | $2.1M | $2.3M | $2.6M | $2.8M |
| Long-term investments | $320,543 | $13.2M | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $0 | $3.7M | $11.5M | $9.0M | $7.1M | $7.2M | $7.8M | $7.8M | $7.6M | $5.6M | $3.7M | $2.7M |
| Total assets | $134.5M | $23.4M | $19.8M | $16.3M | $12.3M | $13.7M | $11.0M | $11.1M | $11.7M | $9.4M | $8.1M | $7.2M |
| Liabilities | ||||||||||||
| Accounts payable | $1.4M | $1.0M | $888,755 | $783,103 | $1.0M | $1.1M | $1.3M | $1.1M | $1.3M | $1.4M | $1.4M | $482,005 |
| Short-term debt | — | $140,323 | $118,875 | $129,865 | $1.2M | $1.9M | $1.2M | $1.6M | $1.6M | $2.2M | $1.0M | $1.2M |
| Total current liabilities | $2.0M | $1.8M | $1.8M | $2.7M | $4.5M | $5.7M | $4.5M | $3.4M | $3.6M | $4.3M | $3.0M | $2.2M |
| Long-term debt | $0 | $150,000 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | — | $93,353 | — | — | — | — | — | — | — | — | — | — |
| Other long-term liabilities | $0 | $240,530 | $317,625 | $559,500 | $636,123 | $337,998 | $528,125 | $533,304 | $882,803 | $733,553 | $768,428 | $543,098 |
| Total liabilities | $2.0M | $2.2M | $2.1M | $3.3M | $5.1M | $6.0M | $5.0M | $4.0M | $4.5M | $5.0M | $3.8M | $2.8M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,300 | $656 | $575 | $516 | $416 | $337 | $212 | $3,996 | $3,972 | $3,643 | $3,533 | $3,299 |
| Retained earnings (deficit) | −$13.7M | −$113.9M | −$110.0M | −$108.4M | −$106.0M | −$101.7M | −$98.2M | −$95.2M | −$93.4M | −$90.4M | −$87.4M | −$83.6M |
| Accumulated other comprehensive income | — | — | — | — | $359,046 | — | $541,875 | — | — | — | — | — |
| Minority interest | $0 | $401,885 | — | — | — | — | — | — | — | — | — | — |
| Total shareholders' equity | $132.5M | $20.8M | $17.2M | $12.5M | $6.2M | $6.7M | $5.3M | $6.9M | $7.1M | $4.4M | $4.3M | $4.4M |
| Key figures | ||||||||||||
| Total debt | — | $343,353 | $268,875 | $279,865 | $1.3M | $2.0M | $1.4M | $1.8M | $1.8M | $2.4M | $1.2M | $1.4M |
| Net cash (debt) | — | $4.9M | $6.1M | $5.1M | $1.7M | $2.2M | −$866,168 | −$637,545 | −$229,593 | −$1.4M | $244,908 | $61,030 |
| Working capital | $13.5M | $4.1M | $5.6M | $3.3M | −$780,290 | −$1.0M | −$3.5M | −$2.1M | −$1.6M | −$2.9M | −$1.2M | −$614,320 |
| Tangible book value | $25.1M | $20.2M | $16.3M | $11.3M | $4.7M | $4.9M | $3.2M | $5.1M | $5.1M | $2.1M | $1.8M | $1.6M |
| Book value per share | $2.66 | — | — | — | — | — | — | — | — | — | — | — |
| Shares outstanding | 49.8M | — | — | — | — | — | — | — | — | — | — | — |
| Current ratio | 7.66 | 3.25 | 4.16 | 2.21 | 0.83 | 0.82 | 0.23 | 0.40 | 0.55 | 0.32 | 0.59 | 0.73 |
| Quick ratio | 7.64 | 2.90 | 3.60 | 2.00 | 0.67 | 0.76 | 0.12 | 0.33 | 0.48 | 0.26 | 0.50 | 0.63 |
| Debt / equity | — | 0.02 | 0.02 | 0.02 | 0.21 | 0.30 | 0.26 | 0.26 | 0.25 | 0.56 | 0.28 | 0.31 |
| Equity / assets | 98.5% | 88.9% | 86.9% | 76.6% | 50.5% | 49.1% | 48.0% | 62.6% | 60.5% | 46.4% | 53.4% | 61.3% |
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.
ZSQR financial position
At the end of fiscal 2025 (December 31, 2025), Z Squared had total assets of $19.8 million (up 80.2% from a year earlier), total liabilities of $2.1 million and shareholders' equity of $17.2 million. It held $6.4 million in cash and short-term investments against $0.3 million of debt, a net cash position of $6.1 million. Its current ratio was 4.16. In the latest quarter (ended June 30, 2026) total assets were $134.5 million and equity $132.5 million.
Related: ZSQR income statement, ZSQR cash flow statement, ZSQR key metrics. See the ZSQR stock overview for the latest quote and news.
ZSQR balance sheet FAQ
What are Z Squared's total assets?
Z Squared reported total assets of $19.8 million at the end of fiscal 2025 (December 31, 2025), compared with $11.0 million a year earlier.
How much debt does Z Squared have?
Z Squared had $0.3 million of total debt at the end of fiscal 2025, including short-term borrowings. Its debt-to-equity ratio was 0.02.
How much cash does Z Squared have?
Z Squared held $6.4 million in cash and short-term investments at the end of fiscal 2025; with $0.3 million of debt that is net cash of $6.1 million.
What is Z Squared's book value?
Z Squared's shareholders' equity (book value) was $17.2 million at the end of fiscal 2025.
What is Z Squared's current ratio?
Z Squared had current assets of $7.4 million and current liabilities of $1.8 million, a current ratio of 4.16 (it can cover its short-term obligations).
How much goodwill does Z Squared have?
Z Squared carried $0.9 million of goodwill and intangible assets, 4.6% of total assets, at the end of fiscal 2025.