GH Research (GHRS) Balance Sheet: Assets & Liabilities

GH Research (GHRS) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), GH Research reported total assets of $288.23M and total liabilities of $8.53M. Shareholders' equity was $279.70M, up 56.3% from $178.95M a year earlier. Total debt stood at $512.00K against $280.71M in cash and short-term investments, a net cash position of $280.20M. That puts debt-to-equity at 0.00, compared with 0.00 a year earlier.

GH Research 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 GH Research PLC (GHRS) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Current Assets
Cash and Cash Equivalents	246.25	100.79	78.42	165.96	276.78	5.90	0.50
Short-Term Investments	34.46	48.53	83.14	0.00	0.00	0.00	0.00
Cash & Short-Term Investments	280.71	149.32	161.56	165.96	276.78	5.90	0.50
Accounts Receivable	1.30	1.73	0.30	0.09	0.05	0.01	0.00
Inventory	0.00	0.00	0.00	0.00	3.01	0.00	0.00
Other Current Assets	5.27	3.17	2.23	2.59	3.07	0.01	0.01
Total Current Assets	285.98	154.23	164.09	168.54	279.84	5.91	0.50
Non-Current Assets
Property, Plant & Equipment (Net)	0.62	0.75	1.07	0.10	0.08	0.00	0.00
Long-Term Investments	0.00	33.30	61.14	85.72	0.00	0.00	0.00
Other Non-Current Assets	1.63	0.00	0.00	0.00	0.00	0.00	0.00
Total Non-Current Assets	2.25	34.05	62.21	85.82	0.08	0.00	0.00
Total Assets	288.23	188.27	226.30	254.36	279.92	5.91	0.50
Current Liabilities
Accounts Payable	3.77	3.74	3.49	1.87	0.88	0.00	0.09
Short-Term Debt	0.37	0.26	0.34	0.00	0.00	0.00	0.00
Accrued Liabilities	3.34	3.87	2.33	2.58	1.79	0.25	-
Other Current Liabilities	4.24	4.96	2.87	2.68	1.87	0.25	0.01
Total Current Liabilities	8.38	8.95	6.70	4.55	2.75	0.25	0.10
Non-Current Liabilities
Long-Term Debt	0.15	0.37	0.63	0.00	0.00	0.00	0.00
Other Non-Current Liabilities	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Non-Current Liabilities	0.15	0.37	0.63	0.00	0.00	0.00	0.00
Total Liabilities	8.53	9.32	7.33	4.55	2.75	0.25	0.10
Stockholders' Equity
Common Stock	1.55	1.30	1.30	1.30	1.30	0.87	0.80
Retained Earnings	-154.43	-106.45	-67.94	-32.49	-10.04	-0.84	-0.39
Accumulated Other Comprehensive Income	1.52	-7.37	-5.86	-23.40	-18.50	0.20	-0.01
Additional Paid-in Capital	431.06	291.46	291.46	291.45	291.45	5.43	0.00
Shares Outstanding	62.03	52.03	52.03	52.02	52.02	-	-
Total Stockholders' Equity	279.70	178.95	218.97	249.82	277.18	5.67	0.40
Total Liabilities & Equity	288.23	188.27	226.30	254.36	279.92	5.91	0.50

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

Frequently Asked Questions About GH Research Balance Sheet

How much debt does GH Research have?

GH Research had total debt of $512.00K as of Dec 31, 2025, against $280.71M in cash and short-term investments. Its debt-to-equity ratio was 0.00. Total debt was $624.00K a year earlier.

What are GH Research's total assets?

GH Research reported total assets of $288.23M as of Dec 31, 2025, up 53.1% from $188.27M a year earlier. Total liabilities were $8.53M.

What is GH Research's shareholders' equity?

GH Research's shareholders' equity was $279.70M as of Dec 31, 2025, or about $4.51 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