Aqua Metals (AQMS) Balance Sheet: Assets & Liabilities

Aqua Metals (AQMS) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Aqua Metals reported total assets of $19.71M and total liabilities of $4.94M. Shareholders' equity was $14.77M, down 9.1% from $16.24M a year earlier. Total debt stood at $592.00K against $10.81M in cash and short-term investments, a net cash position of $10.22M. That puts debt-to-equity at 0.04, compared with 0.26 a year earlier.

Aqua Metals Balance Sheet Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Aqua Metals, Inc. (AQMS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	10.81	4.08	4.08	16.52	7.08	8.14	6.53	7.58	20.89	22.79
Cash & Short-Term Investments	10.81	4.08	4.08	16.52	7.08	8.14	6.53	7.58	20.89	22.79
Accounts Receivable	2.07	0.10	0.10	0.07	0.01	0.27	0.03	17.69	0.73	0.88
Inventory	0.24	0.25	0.25	0.93	0.28	0.12	1.09	1.26	0.77	1.24
Other Current Assets	0.28	0.21	0.21	0.18	0.31	0.36	0.70	0.98	0.74	0.77
Total Current Assets	13.41	4.64	4.64	18.30	23.21	12.44	8.36	27.50	22.75	25.68
Non-Current Assets
Property, Plant & Equipment (Net)	5.76	17.02	16.47	10.57	7.34	2.88	25.60	37.64	45.55	45.73
Long-Term Investments	0.00	0.00	-	0.00	2.00	1.50	0.00	0.00	0.00	1.56
Intangible Assets	0.08	0.15	0.15	0.28	0.46	0.64	0.82	1.00	1.27	1.46
Other Non-Current Assets	0.46	4.56	5.10	0.16	0.49	0.07	0.36	3.31	1.80	1.56
Total Non-Current Assets	6.30	21.72	21.72	15.30	10.29	20.83	26.78	41.95	48.62	48.76
Total Assets	19.71	26.37	26.37	33.60	33.50	33.27	35.14	69.45	71.37	74.44
Current Liabilities
Accounts Payable	0.55	1.23	1.23	1.84	1.08	0.69	1.55	4.83	2.09	1.44
Short-Term Debt	0.31	3.83	0.31	0.04	5.90	0.39	0.65	1.40	4.51	0.41
Current Portion of Long-Term Debt	-	-	3.23	0.04	5.90	-	0.03	-	-	-
Accrued Liabilities	3.57	-	3.13	2.47	1.78	3.01	0.54	-	-	-
Other Current Liabilities	3.57	3.13	0.56	1.86	3.25	2.74	1.25	3.56	5.20	1.92
Total Current Liabilities	4.43	8.18	8.18	4.61	12.31	4.08	3.45	9.81	11.80	3.83
Non-Current Liabilities
Long-Term Debt	0.28	0.45	0.45	2.92	0.28	0.33	0.55	9.27	8.71	10.17
Other Non-Current Liabilities	0.23	1.49	1.49	0.00	0.00	1.33	0.00	0.79	0.77	1.47
Total Non-Current Liabilities	0.51	1.94	0.45	2.92	0.28	1.66	0.55	10.06	9.48	11.64
Total Liabilities	4.94	10.12	10.12	7.54	12.59	5.74	4.00	19.87	21.28	15.48
Stockholders' Equity
Common Stock	0.00	0.01	0.00	0.01	0.08	0.07	0.06	0.06	0.04	113.81
Retained Earnings	-270.42	-247.77	-247.77	-223.22	-199.28	-183.85	-165.65	-139.89	-95.10	-54.84
Treasury Stock	0.03	-	0.19	0.52	-	-	-	-	-	-
Additional Paid-in Capital	285.18	264.01	264.21	249.79	220.11	211.31	196.73	189.42	145.15	113.78
Shares Outstanding	3.00	-	0.77	0.54	0.40	0.35	-	-	-	-
Total Stockholders' Equity	14.77	16.24	16.24	26.06	20.92	27.53	31.14	49.59	50.09	58.97
Total Liabilities & Equity	19.71	26.37	26.37	33.60	33.50	33.27	35.14	69.45	71.37	74.44

Source: Company financial statements from annual and quarterly filings. Data as of Jun 30, 2026. Data sources and methodology

Frequently Asked Questions About Aqua Metals Balance Sheet

How much debt does Aqua Metals have?

Aqua Metals had total debt of $592.00K as of Dec 31, 2025, against $10.81M in cash and short-term investments. Its debt-to-equity ratio was 0.04. Total debt was $4.27M a year earlier.

What are Aqua Metals's total assets?

Aqua Metals reported total assets of $19.71M as of Dec 31, 2025, down 25.3% from $26.36M a year earlier. Total liabilities were $4.94M.

What is Aqua Metals's shareholders' equity?

Aqua Metals's shareholders' equity was $14.77M as of Dec 31, 2025, or about $4.92 of book value per share.

What is the debt-to-equity ratio?

The debt-to-equity ratio divides a company's total debt by its shareholders' equity. It shows how much of the business is financed with borrowed money; normal levels vary widely by industry. Full definition