ESS Tech (GWH) Balance Sheet: Assets & Liabilities

ESS Tech (GWH) Balance Sheet

As of Dec 31, 2025 (end of fiscal 2025), ESS Tech reported total assets of $51.17M and total liabilities of $42.55M. Shareholders' equity was $8.62M, down 70.2% from $28.88M a year earlier. Total debt stood at $17.34M against $22.03M in cash and short-term investments, a net cash position of $4.70M. That puts debt-to-equity at 2.01, compared with 0.06 a year earlier.

ESS Tech 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 ESS Tech, Inc. (GWH) - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period ending	Dec 2025	Mar 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019
Current Assets
Cash and Cash Equivalents	14.48	13.34	13.34	20.17	34.77	238.94	4.90	18.29
Short-Term Investments	7.56	18.26	18.26	87.90	105.05	0.00	0.00	0.00
Cash & Short-Term Investments	22.03	31.60	31.60	108.06	139.81	238.94	4.90	18.29
Accounts Receivable	0.01	2.42	0.22	1.99	4.95	0.52	0.00	0.00
Inventory	0.14	5.64	5.64	3.37	1.21	0.00	0.00	0.00
Other Current Assets	4.06	3.70	0.61	0.77	6.87	6.06	1.96	0.66
Total Current Assets	26.25	43.36	43.36	118.10	151.64	245.52	6.86	18.95
Non-Current Assets
Property, Plant & Equipment (Net)	20.99	22.09	22.09	18.43	20.97	4.50	1.84	1.66
Long-Term Investments	0.00	0.00	-	0.00	0.68	0.08	0.00	0.00
Intangible Assets	2.68	4.66	4.66	4.92	0.18	0.00	0.00	0.00
Other Non-Current Assets	1.25	1.71	1.71	1.78	0.95	0.11	0.33	0.53
Total Non-Current Assets	24.93	28.45	28.45	25.13	21.92	4.68	2.16	2.19
Total Assets	51.17	71.81	71.81	143.23	173.55	250.20	9.02	21.14
Current Liabilities
Accounts Payable	3.02	8.07	8.07	2.76	3.04	1.57	0.52	0.70
Short-Term Debt	8.04	1.69	-	1.58	1.60	1.90	5.68	0.37
Current Portion of Long-Term Debt	-	-	-	-	1.60	1.90	4.74	-
Accrued Liabilities	12.08	-	11.52	11.66	15.77	6.49	1.49	-
Deferred Revenue	0.36	5.24	5.24	2.55	6.17	3.66	0.00	0.00
Other Current Liabilities	1.84	12.60	1.08	0.68	4.92	6.49	2.19	1.83
Total Current Liabilities	25.29	27.60	27.60	19.77	27.99	13.62	8.39	2.89
Non-Current Liabilities
Long-Term Debt	9.29	0.00	-	0.96	0.32	1.87	0.02	0.46
Other Non-Current Liabilities	5.91	0.93	0.13	19.15	5.74	29.55	2.26	2.21
Total Non-Current Liabilities	17.26	15.33	15.33	20.11	8.59	31.42	2.28	2.67
Total Liabilities	42.55	42.93	42.93	39.88	36.58	45.04	10.67	5.56
Stockholders' Equity
Common Stock	0.00	0.00	0.00	0.00	0.00	0.02	0.01	0.00
Retained Earnings	-845.82	-782.38	-782.38	-696.16	-618.58	-540.61	-63.49	-33.07
Accumulated Other Comprehensive Income	0.00	0.00	-	-	0.00	0.00	0.15	0.15
Additional Paid-in Capital	854.44	811.26	811.26	799.51	755.54	745.75	35.45	0.76
Shares Outstanding	22.38	-	11.99	11.61	10.25	10.12	-	-
Total Stockholders' Equity	8.62	28.88	28.88	103.36	136.97	205.16	-1.65	15.58
Total Liabilities & Equity	51.17	71.81	71.81	143.23	173.55	250.20	9.02	21.14

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

Frequently Asked Questions About ESS Tech Balance Sheet

How much debt does ESS Tech have?

ESS Tech had total debt of $17.34M as of Dec 31, 2025, against $22.03M in cash and short-term investments. Its debt-to-equity ratio was 2.01. Total debt was $1.69M a year earlier.

What are ESS Tech's total assets?

ESS Tech reported total assets of $51.17M as of Dec 31, 2025, down 28.7% from $71.81M a year earlier. Total liabilities were $42.55M.

What is ESS Tech's shareholders' equity?

ESS Tech's shareholders' equity was $8.62M as of Dec 31, 2025, or about $0.39 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