The capital structure has shifted toward increased leverage with the emergence of $500,000 in debt, while the current ratio has deteriorated to a precarious 0.30.
| Total Current Assets | 280.75K | 161.7K | 2.85M |
| Cash & Short-Term Investments | - | - | - |
| Cash Only | - | - | - |
| Short-Term Investments | - | - | - |
| Accounts Receivable | - | - | - |
| Days Sales Outstanding | - | - | - |
| Inventory | - | - | - |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 310.26M | 307.62M | 296.27M |
| Property, Plant & Equipment | 0 | 0 | 0 |
| Fixed Asset Turnover | - | - | - |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 1.22B | 307.62M | 296.12M |
| Other Non-Current Assets | - | - | - |
| Total Assets | 310.55M | 307.78M | 299.12M |
| Asset Turnover | 0.00x | - | - |
| Asset Growth % | 12.59% | 2.89% | - |
| Total Current Liabilities | 945.15K | 172.97K | 75K |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - |
| Other Current Liabilities | 945.15K | 172.97K | 0 |
| Current Ratio | 0.30x | 0.93x | 38.00x |
| Quick Ratio | 0.30x | 0.93x | 38.00x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 10.56M | 10.06M | 10.06M |
| Long-Term Debt | 500K | 0 | 0 |
| Capital Lease Obligations | 0 | - | - |
| Deferred Tax Liabilities | 0 | - | - |
| Other Non-Current Liabilities | - | - | - |
| Total Liabilities | 11.51M | 10.24M | 10.14M |
| Total Debt | 500K | 0 | 0 |
| Net Debt | 332.2K | -2.47K | -2.41M |
| Debt / Equity | 0.00x | - | - |
| Debt / EBITDA | 0.33x | - | - |
| Net Debt / EBITDA | 0.22x | - | - |
| Interest Coverage | - | - | - |
| Total Equity | 299.04M | 297.54M | 288.99M |
| Equity Growth % | 12.38% | 2.96% | - |
| Book Value per Share | 10.40 | 10.35 | 10.05 |
| Total Shareholders' Equity | 299.04M | 297.54M | 288.99M |
| Common Stock | 310.27M | 307.62M | 296.12M |
| Retained Earnings | -11.23M | -10.07M | -7.14M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
Liquidation and Dilution Risk
As reported in recent financial filings, CCIX's liquidity position has significantly deteriorated, with the current ratio plummeting from 38.00 in 2024Q4 to a precarious 0.30 by 2026Q1, signaling an increasing reliance on external capital to sustain the entity's ongoing search for a business combination target.
The rapid decline in the current ratio suggests that the entity is struggling to maintain sufficient liquid assets to cover its mounting administrative liabilities. This trajectory implies that the balance sheet is becoming increasingly strained, potentially forcing management to seek dilutive financing or sponsor support to avoid a liquidity crisis.
Based on the provided balance sheet data, CCIX's cash position has dwindled to a nominal $167.8K as of 2026Q1, which appears insufficient to support the entity's ongoing administrative burn rate and search costs without further capital injections from the sponsor or external sources.
The sharp reduction in cash reserves relative to the entity's fixed cost structure indicates a high level of operational vulnerability. Investors should monitor whether the current cash balance can sustain the search phase, as any further depletion may necessitate immediate and potentially dilutive capital raising activities.
According to the historical balance sheet, CCIX's retained earnings have consistently trended downward, reaching a deficit of $11.2 million in 2026Q1, which reflects the ongoing accumulation of administrative expenses without any offsetting revenue generation to bolster the entity's equity base.
The persistent growth of the accumulated deficit highlights the structural cost of maintaining a SPAC vehicle during an extended search period. This trend suggests that shareholder equity is being steadily eroded, which may impact the final valuation available to public investors upon the eventual completion of a merger.
As indicated by the financial statements, the emergence of $500.0K in debt during 2026Q1, following a period of zero debt, warrants investigation into whether this represents a new sponsor loan facility intended to bridge the entity's widening liquidity gap during its search for a target.
The sudden appearance of debt on a previously debt-free balance sheet suggests that the entity's internal cash generation is insufficient to meet its obligations. This shift may imply that the sponsor is increasingly involved in funding the entity's operations, which could introduce complex repayment terms or additional dilution risks for public shareholders.
Quick answers to the most common questions about buying CCIX stock.
As of 2025, Churchill Capital Corp IX Ordinary Shares (CCIX) had total assets of $307.8M including $0.2M in current assets.
Churchill Capital Corp IX Ordinary Shares (CCIX) carries total debt of $0.0M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Churchill Capital Corp IX Ordinary Shares (CCIX) has total shareholders' equity (book value) of $297.5M ($10.35 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Churchill Capital Corp IX Ordinary Shares (CCIX) reported a current ratio of 0.93x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.