The company's asset base has undergone a massive reset, with total assets shrinking from $10.8 billion in 2023Q4 to $4.3 billion in 2026Q1, while the debt-to-equity ratio shifted dramatically to 0.02 in the most recent period.
| Total Current Assets | 981M | 1.14B | 1.27B | 2.78B | 2.82B | 2.47B | 2.23B | 1.77B | 1.52B | 2.07B |
| Cash & Short-Term Investments | 178M | 273M | 343M | 358M | 250M | 372M | 506M | 218M | 220M | 196M |
| Cash Only | 178M | 273M | 343M | 358M | 250M | 372M | 506M | 218M | 220M | 196M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 359M | 387M | 560M | 805M | 827M | 663M | 564M | 665M | 507M | 564M |
| Days Sales Outstanding | 64.82 | 62.45 | 87.65 | 86.17 | 136.77 | 83.02 | 75.46 | 95.11 | 77.82 | 89.47 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 444M | 482M | 308M | 1.55B | 1.67B | 1.37B | 1.1B | 834M | 750M | 1.26B |
| Total Non-Current Assets | 3.36B | 3.43B | 6.93B | 8.01B | 8.42B | 8.52B | 4.72B | 4.81B | 4.16B | 4.19B |
| Property, Plant & Equipment | 367M | 378M | 396M | 439M | 406M | 356M | 463M | 418M | 230M | 151M |
| Fixed Asset Turnover | 5.76x | 5.98x | 5.89x | 7.77x | 5.44x | 8.19x | 5.89x | 6.11x | 10.34x | 15.24x |
| Goodwill | 83M | 83M | 3.21B | 3.54B | 3.68B | 3.64B | 2.25B | 2.21B | 1.85B | 1.81B |
| Intangible Assets | 2.5B | 2.57B | 2.85B | 3.55B | 3.87B | 4.17B | 1.73B | 1.93B | 1.91B | 2.04B |
| Long-Term Investments | 0 | 0 | 23M | 39M | 0 | 0 | 25M | 0 | 0 | 0 |
| Other Non-Current Assets | 382M | 377M | 399M | 390M | 456M | 352M | 254M | 223M | 175M | 187M |
| Total Assets | 4.34B | 4.57B | 8.19B | 10.78B | 11.23B | 10.99B | 6.96B | 6.59B | 5.68B | 6.26B |
| Asset Turnover | 0.42x | 0.50x | 0.28x | 0.32x | 0.20x | 0.27x | 0.39x | 0.39x | 0.42x | 0.37x |
| Asset Growth % | -157.75% | -44.25% | -24.01% | -4.03% | 2.25% | 57.96% | 5.62% | 15.91% | -9.19% | - |
| Total Current Liabilities | 693M | 874M | 892M | 2.19B | 2.35B | 2.13B | 1.78B | 1.54B | 1.25B | 1.76B |
| Accounts Payable | 0 | 253M | 355M | 444M | 508M | 406M | 394M | 405M | 341M | 325M |
| Days Payables Outstanding | 39.72 | 51.5 | 84.25 | 71.39 | 121.91 | 66.69 | 75.93 | 88.57 | 81.51 | 79.19 |
| Short-Term Debt | 20M | 20M | 25M | 25M | 31M | 38M | 37M | 30M | 29M | 29M |
| Deferred Revenue (Current) | 86M | 0 | 91M | 148M | 141M | 148M | 148M | 218M | 0 | 0 |
| Other Current Liabilities | 673M | 601M | 385M | 1.52B | 1.61B | 1.46B | 1.14B | 837M | 865M | 1.4B |
| Current Ratio | 1.42x | 1.31x | 1.42x | 1.27x | 1.20x | 1.16x | 1.25x | 1.15x | 1.22x | 1.18x |
| Quick Ratio | 1.42x | 1.31x | 1.42x | 1.27x | 1.20x | 1.16x | 1.25x | 1.15x | 1.22x | 1.18x |
| Cash Conversion Cycle | 25.1 | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.62B | 2.65B | 2.99B | 3.85B | 3.8B | 3.94B | 4.49B | 4.24B | 3.62B | 3.61B |
| Long-Term Debt | 0 | 1.99B | 2B | 2.77B | 2.79B | 2.83B | 4.04B | 3.77B | 3.4B | 3.41B |
| Capital Lease Obligations | 89M | 0 | 95M | 78M | 121M | 173M | 214M | 204M | 37M | 16M |
| Deferred Tax Liabilities | 62M | 14M | 22M | 32M | 60M | 36M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.6B | 649M | 831M | 892M | 732M | 841M | 173M | 262M | 180M | 184M |
| Total Liabilities | 3.31B | 3.52B | 3.88B | 6.04B | 6.15B | 6.06B | 6.27B | 5.78B | 4.86B | 5.37B |
| Total Debt | 20M | 2B | 2.16B | 2.92B | 3B | 3.11B | 4.36B | 4.06B | 3.46B | 3.46B |
| Net Debt | -158M | 1.73B | 1.81B | 2.56B | 2.75B | 2.74B | 3.85B | 3.84B | 3.24B | 3.26B |
| Debt / Equity | 0.02x | 1.92x | 0.50x | 0.62x | 0.59x | 0.63x | 6.39x | 5.04x | 4.23x | 3.90x |
| Debt / EBITDA | 0.05x | 4.55x | 7.07x | 9.12x | 11.73x | 5.68x | 9.96x | 7.84x | 8.00x | 9.04x |
| Net Debt / EBITDA | -0.37x | 3.93x | 5.94x | 8.00x | 10.75x | 5.00x | 8.80x | 7.42x | 7.49x | 8.53x |
| Interest Coverage | -27.64x | -32.28x | -0.44x | -1.79x | -0.02x | 0.71x | 0.60x | 1.17x | 0.98x | - |
| Total Equity | 1.03B | 1.05B | 4.31B | 4.74B | 5.09B | 4.93B | 683M | 805M | 818M | 887M |
| Equity Growth % | -235.4% | -75.75% | -9.05% | -6.82% | 3.27% | 621.52% | -15.16% | -1.59% | -7.78% | - |
| Book Value per Share | 1.96 | 1.98 | 7.88 | 9.69 | 11.10 | 11.21 | 1.53 | 1.80 | 1.83 | 7.13 |
| Total Shareholders' Equity | 1.03B | 1.04B | 4.31B | 4.46B | 4.44B | 4.14B | 683M | 805M | 818M | 887M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 852M | 854M | 815M | 872M |
| Retained Earnings | -3.78B | -3.76B | -660M | -503M | -158M | -96M | -127M | -24M | 0 | 0 |
| Treasury Stock | 0 | -284M | -219M | -52M | -12M | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 19M | 20M | 47M | 71M | 95M | 8M | -42M | -25M | 3M | 15M |
| Minority Interest | 2M | 2M | 4M | 280M | 650M | 788M | 0 | 0 | 0 | 0 |
Rapid Asset Base Erosion
As reported in recent financial filings, Alight's total assets have plummeted from $10.8 billion in 2023Q4 to $4.3 billion by 2026Q1, a structural decline that suggests a significant divestiture-driven downsizing of the company's footprint rather than organic growth or operational expansion.
The sharp reduction in total assets, coupled with the persistent accumulation of a $3.8 billion deficit in retained earnings, indicates that the company is undergoing a painful transformation. Investors should monitor whether this shrinking balance sheet represents a successful shedding of non-core assets or a broader loss of competitive scale.
Based on the provided quarterly data, Alight's debt profile shows a dramatic shift, with the debt-to-equity ratio appearing to collapse to 0.02 in 2026Q1 from 1.92 in 2025Q4, which warrants further investigation into whether this reflects a massive debt repayment or a reporting anomaly.
The sudden drop in reported debt levels suggests a potential recapitalization event that may have been funded by the proceeds of recent divestitures. However, given the company's history of high leverage, the sustainability of this lower debt burden remains unproven until further operational cash flow stability is demonstrated.
According to the company's balance sheet disclosures, goodwill has been aggressively written down from $3.5 billion in 2023Q4 to just $83 million by 2026Q1, signaling a massive recognition of historical overpayment for acquired entities and a fundamental reset of the company's intangible asset valuation.
This massive impairment suggests that the company's previous acquisition strategy failed to generate the expected economic value, forcing a significant accounting adjustment. The remaining asset base is now heavily weighted toward PPE, which may limit the company's flexibility as it attempts to pivot toward a software-centric model.
As indicated by the financial statements, the current ratio has fluctuated between 1.16 and 1.56 over the last ten quarters, suggesting that Alight maintains a narrow liquidity buffer that leaves little room for error during periods of operational volatility or unexpected cash outflows.
With cash reserves dropping to $178 million in the most recent quarter, the company's ability to fund its ongoing platform transition and service obligations appears increasingly constrained. This limited liquidity position may force management to prioritize cash preservation over strategic investments in the near term.
Quick answers to the most common questions about buying ALIT stock.
As of 2025, Alight, Inc. (ALIT) had total assets of $4.57B including $1.14B in current assets.
Alight, Inc. (ALIT) carries total debt of $2.00B, offset by $273.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Alight, Inc. (ALIT) has total shareholders' equity (book value) of $1.04B ($1.98 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Alight, Inc. (ALIT) reported a current ratio of 1.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.