The company maintains a stable capital structure with $1.1 billion in total debt against $1.2 billion in equity, resulting in a manageable debt-to-equity ratio of 0.95.
| Total Current Assets | 2.61B | 2.35B | 2.25B | 2.2B | 2.23B | 427.69M | 183.06M |
| Cash & Short-Term Investments | 2.05B | 1.91B | 1.9B | 1.93B | 2.02B | 288.55M | 99.77M |
| Cash Only | 347.21M | 385.98M | 349.76M | 435.78M | 1.38B | 36.79M | 18.95M |
| Short-Term Investments | 1.71B | 1.52B | 1.55B | 1.49B | 640.09M | 251.76M | 80.82M |
| Accounts Receivable | 390.75M | 314.31M | 229.96M | 178.19M | 137.49M | 105.97M | 67.78M |
| Days Sales Outstanding | 122.24 | 119.05 | 108.03 | 111 | 129.39 | 163.5 | 165.14 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 162.29M | 126.45M | 120.92M | 93.11M | 27.65M | 14.4M | 7.91M |
| Total Non-Current Assets | 378.26M | 343.59M | 209.15M | 146.72M | 116.66M | 98.42M | 23.25M |
| Property, Plant & Equipment | 98.11M | 87.5M | 64.07M | 58.57M | 51.71M | 54.99M | 2.87M |
| Fixed Asset Turnover | 11.89x | 11.01x | 12.13x | 10.00x | 7.50x | 4.30x | 52.18x |
| Goodwill | 164.41M | 164.41M | 52M | 0 | 0 | 0 | 0 |
| Intangible Assets | 6.05M | 7.92M | 3.49M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 109.68M | 83.76M | 89.59M | 88.16M | 64.95M | 43.43M | 20.38M |
| Total Assets | 2.99B | 2.69B | 2.46B | 2.34B | 2.34B | 526.12M | 206.32M |
| Asset Turnover | 0.39x | 0.36x | 0.32x | 0.25x | 0.17x | 0.45x | 0.73x |
| Asset Growth % | 10.77% | 9.51% | 4.95% | 0.09% | 345.29% | 155% | - |
| Total Current Liabilities | 680.61M | 589.25M | 487.02M | 424.33M | 348.19M | 193.8M | 114.95M |
| Accounts Payable | 20.71M | 7.53M | 6.71M | 21.44M | 7.59M | 1.65M | 1.77M |
| Days Payables Outstanding | 25.2 | 10.68 | 10.67 | 38.66 | 20.18 | 7.96 | 13.09 |
| Short-Term Debt | 8.18M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 468.98M | 378.77M | 330.57M | 290.19M | 220.92M | 142.9M | 84.16M |
| Other Current Liabilities | 203.44M | 61.5M | 110.96M | 44.19M | 49.76M | 14.59M | 11.09M |
| Current Ratio | 3.83x | 3.99x | 4.62x | 5.18x | 6.39x | 2.21x | 1.59x |
| Quick Ratio | 3.83x | 3.99x | 4.62x | 5.18x | 6.39x | 2.21x | 1.59x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.14B | 1.14B | 1.16B | 1.15B | 1.14B | 638.57M | 222.14M |
| Long-Term Debt | 1.1B | 1.09B | 1.09B | 1.08B | 1.08B | 0 | 0 |
| Capital Lease Obligations | 0 | 9.14M | 17.39M | 25.14M | 31.64M | 40.44M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 38.33M | 12.72M | 35.23M | 8.76M | 6.36M | 581.84M | 211.18M |
| Total Liabilities | 1.82B | 1.73B | 1.65B | 1.58B | 1.49B | 832.37M | 337.08M |
| Total Debt | 1.11B | 1.11B | 1.11B | 1.12B | 1.12B | 50.93M | 0 |
| Net Debt | 758.16M | 724M | 763.83M | 681.23M | -254.35M | 14.14M | -18.95M |
| Debt / Equity | 0.95x | 1.15x | 1.37x | 1.45x | 1.32x | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - |
| Interest Coverage | - | -110.30x | -125.99x | - | - | - | - |
| Total Equity | 1.17B | 961.23M | 810.41M | 769.48M | 850.28M | -306.25M | -130.76M |
| Equity Growth % | 21.63% | 18.61% | 5.32% | -9.5% | 377.64% | -134.2% | - |
| Book Value per Share | 3.40 | 2.99 | 2.69 | 2.75 | 3.13 | -1.21 | -0.52 |
| Total Shareholders' Equity | 1.17B | 961.23M | 810.41M | 769.48M | 850.28M | -306.25M | -130.76M |
| Common Stock | 4K | 3K | 3K | 3K | 3K | 1K | 1K |
| Retained Earnings | -2.28B | -1.99B | -1.64B | -1.2B | -748.85M | -406.05M | -176.22M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 5.66M | -2.64M | 1.27M | -9.46M | -830K | 228K | 197K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Persistent Stock-Based Compensation Dilution
According to reported financial statements, Confluent has grown its total assets from $2.4 billion in 2023Q3 to $3.0 billion by 2025Q4, reflecting a consistent expansion of the balance sheet despite the company maintaining a cumulative deficit of $2.3 billion in retained earnings over the same period.
The steady increase in total assets suggests that the company is successfully deploying capital to scale its infrastructure and market presence. However, the persistent growth in the accumulated deficit indicates that this expansion is currently funded by external capital and equity issuance rather than internally generated profits.
Based on the latest quarterly filings, Confluent maintains a stable debt load of $1.1 billion, which, when measured against total equity of $1.2 billion, results in a debt-to-equity ratio of 0.95, suggesting a balanced approach to financing its long-term growth initiatives through debt instruments.
The company's reliance on $1.1 billion in debt appears to be a strategic choice to fund operations without further diluting shareholders at current valuations. Investors should monitor whether the company can generate sufficient cash flow to service this debt burden as it transitions toward a more mature, consumption-based revenue model.
As indicated by the most recent balance sheet data, Confluent maintains a current ratio of 3.83, providing a substantial liquidity buffer that appears more than adequate to cover short-term obligations while the company continues its heavy investment phase in cloud-native streaming and data processing technologies.
This strong current ratio suggests that the company is well-positioned to navigate potential volatility in its consumption-based revenue streams. The liquidity position provides management with the necessary flexibility to continue R&D spending without immediate concerns regarding short-term solvency or the need for emergency capital raises.
Based on reported figures, Confluent's equity base has grown to $1.2 billion by 2025Q4, yet this growth is heavily influenced by stock-based compensation, which warrants further investigation into the true economic value being retained by shareholders versus the dilution caused by ongoing employee equity grants.
While the increase in equity is a positive signal of balance sheet strength, the reliance on stock-based compensation to attract and retain talent may be masking the true cost of operations. Investors should carefully evaluate the extent to which this dilution offsets the benefits of the company's expanding asset base.
As reported in recent SEC filings, Confluent's goodwill has increased to $164.4 million, representing a non-trivial portion of the asset base that may be subject to future impairment risks if the company's recent acquisitions fail to deliver the expected synergies in the competitive streaming market.
The rise in goodwill suggests that the company is actively using M&A to accelerate its product roadmap, particularly in areas like Flink. However, this introduces a risk that future write-downs could negatively impact the balance sheet if the integration of these acquired technologies does not meet growth expectations.
Quick answers to the most common questions about buying CFLT stock.
As of 2025, Confluent, Inc. (CFLT) had total assets of $2.99B including $2.61B in current assets.
Confluent, Inc. (CFLT) carries total debt of $1.11B, offset by $2.05B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Confluent, Inc. (CFLT) has total shareholders' equity (book value) of $1.17B ($3.40 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Confluent, Inc. (CFLT) reported a current ratio of 3.83x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.