Fervo Energy Company (FRVO) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Fervo Energy Company reported total assets of $1.37B and total liabilities of $1.43B. Shareholders' equity was negative at −$246.50M, meaning liabilities exceed assets. Total debt stood at $177.66M against $461.84M in cash and short-term investments, a net cash position of $284.18M.

Fervo Energy Company Balance Sheet Analysis

Values in billions USD

Income Statement Balance Sheet Cash Flow Ratios

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Balance sheet showing assets, liabilities, and shareholders' equity for Fervo Energy Company (FRVO) - Annual data in billions USD
Breakdown	FY 2025	FY 2024
Period ending	Dec 2025	Dec 2024
Current Assets
Cash and Cash Equivalents	0.46	0.19
Cash & Short-Term Investments	0.46	0.19
Accounts Receivable	0.01	0.00
Inventory	0.00	-
Other Current Assets	0.01	0.01
Total Current Assets	0.48	0.21
Non-Current Assets
Property, Plant & Equipment (Net)	0.85	0.28
Other Non-Current Assets	0.01	0.01
Total Non-Current Assets	0.88	0.33
Total Assets	1.37	0.53
Current Liabilities
Accounts Payable	0.01	0.04
Short-Term Debt	0.00	-
Accrued Liabilities	0.13	0.03
Deferred Revenue	0.00	0.00
Other Current Liabilities	0.00	0.01
Total Current Liabilities	0.15	0.07
Non-Current Liabilities
Long-Term Debt	0.17	0.04
Other Non-Current Liabilities	0.01	0.00
Total Non-Current Liabilities	1.28	0.64
Total Liabilities	1.43	0.71
Stockholders' Equity
Common Stock	0.00	0.00
Retained Earnings	-0.24	-0.18
Treasury Stock	0.00	-
Additional Paid-in Capital	0.00	0.00
Minority Interest	0.18	-
Shares Outstanding	0.28	0.28
Total Stockholders' Equity	-0.25	-0.18
Total Liabilities & Equity	1.37	0.53

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

Frequently Asked Questions About Fervo Energy Company Balance Sheet

How much debt does Fervo Energy Company have?

Fervo Energy Company had total debt of $177.66M as of Dec 31, 2025, against $461.84M in cash and short-term investments. Total debt was $39.02M a year earlier.

What are Fervo Energy Company's total assets?

Fervo Energy Company reported total assets of $1.37B as of Dec 31, 2025, up 156.9% from $531.30M a year earlier. Total liabilities were $1.43B.

What is Fervo Energy Company's shareholders' equity?

Fervo Energy Company's shareholders' equity was negative at −$246.50M as of Dec 31, 2025, so its liabilities exceeded its assets.

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