Guardforce AI Co. (GFAI) Balance Sheet: Assets & Liabilities

Guardforce AI Co. (GFAI) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), Guardforce AI Co. reported total assets of $49.09M and total liabilities of $14.99M. Shareholders' equity was $34.11M, up 6.4% from $32.05M a year earlier. Total debt stood at $4.22M against $25.87M in cash and short-term investments, a net cash position of $21.64M. That puts debt-to-equity at 0.12, compared with 0.03 a year earlier.

Guardforce AI Co. 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 Guardforce AI Co., Limited (GFAI) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Current Assets
Cash and Cash Equivalents	24.55	21.94	20.24	6.93	12.73	8.41	6.08	4.44	3.42
Short-Term Investments	1.32	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	25.87	21.94	20.24	6.93	12.73	8.41	6.08	4.44	3.42
Accounts Receivable	4.95	5.92	8.82	5.40	4.94	6.67	5.95	5.91	5.80
Inventory	0.02	0.39	0.51	5.26	1.47	0.50	0.00	0.00	0.00
Other Current Assets	3.67	0.01	1.56	0.02	0.02	1.45	1.38	1.74	1.85
Total Current Assets	34.09	30.85	31.12	35.26	21.96	17.03	13.40	12.08	10.92
Non-Current Assets
Property, Plant & Equipment (Net)	7.61	5.45	6.73	12.24	12.26	12.07	15.30	10.18	9.47
Long-Term Investments	2.37	0.00	2.02	1.35	1.58	1.77	1.97	1.37	0.86
Goodwill	0.00	0.41	0.41	2.68	0.33	0.00	0.00	0.00	0.00
Intangible Assets	1.06	2.30	2.84	5.79	0.16	0.22	0.25	0.23	0.17
Other Non-Current Assets	6.34	1.43	1.61	1.30	1.53	3.90	7.40	5.71	4.80
Total Non-Current Assets	15.01	13.85	14.69	25.90	19.79	19.33	26.35	18.84	16.66
Total Assets	49.09	44.69	45.81	61.17	41.75	36.36	39.75	30.92	27.58
Current Liabilities
Accounts Payable	3.16	2.00	2.11	2.06	0.68	1.37	1.40	1.44	1.56
Short-Term Debt	2.14	0.04	4.92	8.19	16.18	3.58	23.05	16.69	14.40
Current Portion of Long-Term Debt	-	0.04	0.20	3.18	16.07	0.49	-	-	-
Accrued Liabilities	2.44	0.69	0.68	1.32	0.83	2.48	-	-	-
Deferred Revenue	0.00	0.12	0.26	0.57	0.04	0.00	0.00	0.00	0.00
Other Current Liabilities	1.11	2.24	6.62	0.00	2.42	2.85	2.09	3.10	1.71
Total Current Liabilities	6.41	6.26	14.01	19.21	22.50	8.08	26.64	21.23	17.67
Non-Current Liabilities
Long-Term Debt	2.08	0.89	1.72	15.36	6.19	23.21	4.88	2.47	2.38
Deferred Tax Liabilities	0.00	0.00	0.07	0.00	0.26	0.00	0.41	0.38	0.26
Other Non-Current Liabilities	6.49	5.55	4.94	0.04	0.05	6.84	0.00	5.62	5.23
Total Non-Current Liabilities	8.58	6.44	6.66	22.82	12.73	30.05	11.74	8.47	7.87
Total Liabilities	14.99	12.70	20.66	42.03	35.23	38.47	38.38	29.70	25.54
Stockholders' Equity
Common Stock	2.92	2.14	1.18	0.19	0.06	0.05	0.05	0.05	0.05
Retained Earnings	-70.86	-64.20	-58.34	-28.77	-10.20	-4.72	-1.60	-1.65	-1.72
Accumulated Other Comprehensive Income	1.87	0.81	1.21	1.34	1.05	0.43	0.50	0.40	0.30
Additional Paid-in Capital	100.27	93.10	80.98	46.23	15.38	2.08	2.36	2.36	3.36
Minority Interest	-0.05	-0.06	-0.08	-0.06	0.04	0.05	0.07	0.06	0.06
Shares Outstanding	24.35	17.81	9.83	1.62	0.53	-	-	-	-
Total Stockholders' Equity	34.11	32.05	25.23	19.19	6.49	-2.16	1.31	1.16	1.98
Total Liabilities & Equity	49.09	44.69	45.81	61.17	41.75	36.36	39.75	30.92	27.58

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

Frequently Asked Questions About Guardforce AI Co. Balance Sheet

How much debt does Guardforce AI Co. have?

Guardforce AI Co. had total debt of $4.22M as of Dec 31, 2025, against $25.87M in cash and short-term investments. Its debt-to-equity ratio was 0.12. Total debt was $934.15K a year earlier.

What are Guardforce AI Co.'s total assets?

Guardforce AI Co. reported total assets of $49.09M as of Dec 31, 2025, up 9.8% from $44.69M a year earlier. Total liabilities were $14.99M.

What is Guardforce AI Co.'s shareholders' equity?

Guardforce AI Co.'s shareholders' equity was $34.11M as of Dec 31, 2025, or about $1.40 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