The company maintains a debt-to-equity ratio of 3.75, reflecting a heavy reliance on external financing to support $46.6B in net PPE.
| Total Current Assets | 5.61B | 7.49B | 1.92B | 501.99M |
| Cash & Short-Term Investments | 3.04B | 3.98B | 1.36B | 219.51M |
| Cash Only | 3.02B | 3.95B | 1.36B | 217.15M |
| Short-Term Investments | 22M | 34M | 0 | 2.37M |
| Accounts Receivable | 2.12B | 3.17B | 425.67M | 183.03M |
| Days Sales Outstanding | 130.15 | 225.43 | 81.12 | 291.8 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 446M | 339M | 62.1M | 45.11M |
| Total Non-Current Assets | 49.96B | 41.81B | 15.92B | 4.47B |
| Property, Plant & Equipment | 46.61B | 38.79B | 14.5B | 3.95B |
| Fixed Asset Turnover | 0.19x | 0.13x | 0.13x | 0.06x |
| Goodwill | 1.1B | 1.1B | 19.54M | 19.54M |
| Intangible Assets | 224M | 235M | 4.91M | 7M |
| Long-Term Investments | 174.17M | 0 | 102.22M | 42.09M |
| Other Non-Current Assets | 2.03B | 1.69B | 1.29B | 460.39M |
| Total Assets | 55.57B | 49.3B | 17.83B | 4.98B |
| Asset Turnover | 0.15x | 0.10x | 0.11x | 0.05x |
| Asset Growth % | 463.5% | 176.47% | 258.3% | - |
| Total Current Liabilities | 17.82B | 16.44B | 4.96B | 998.46M |
| Accounts Payable | 3.37B | 1.62B | 868.26M | 455.56M |
| Days Payables Outstanding | 353.09 | 407.7 | 642.37 | 2.42K |
| Short-Term Debt | 8.06B | 7.17B | 2.47B | 171.87M |
| Deferred Revenue (Current) | 4.79B | 1.71B | 768.93M | 249.83M |
| Other Current Liabilities | 4.26B | 5.93B | 230.24M | 97K |
| Current Ratio | 0.31x | 0.46x | 0.39x | 0.50x |
| Quick Ratio | 0.31x | 0.46x | 0.39x | 0.50x |
| Cash Conversion Cycle | -222.94 | - | - | - |
| Total Non-Current Liabilities | 33B | 29.53B | 13.28B | 4.58B |
| Long-Term Debt | 9.78B | 7.98B | 5.46B | 1.35B |
| Capital Lease Obligations | 7.55B | 0 | 2.42B | 433.16M |
| Deferred Tax Liabilities | 554.66M | 115M | 149.23M | 36.45M |
| Other Non-Current Liabilities | 23.02B | 21.43B | 1.96B | 999.23M |
| Total Liabilities | 50.81B | 45.97B | 18.25B | 5.57B |
| Total Debt | 17.84B | 15.16B | 10.62B | 2B |
| Net Debt | 14.81B | 11.21B | 9.26B | 1.78B |
| Debt / Equity | 3.75x | 4.54x | - | - |
| Debt / EBITDA | 9.65x | 6.29x | 8.94x | 22.53x |
| Net Debt / EBITDA | 8.01x | 4.66x | 7.80x | 20.08x |
| Interest Coverage | -0.29x | 0.01x | -1.06x | -18.65x |
| Total Equity | 4.76B | 3.33B | -413.6M | -596.59M |
| Equity Growth % | 2188.63% | 906.34% | 30.67% | - |
| Book Value per Share | 9.03 | 7.65 | -1.02 | -1.48 |
| Total Shareholders' Equity | 4.76B | 3.33B | -413.6M | -596.59M |
| Common Stock | 0 | 0 | 1K | 1K |
| Retained Earnings | -3.38B | 0 | -1.48B | -612.79M |
| Treasury Stock | 0 | 0 | -33.52M | -32.05M |
| Accumulated OCI | 5M | 0 | 0 | -148K |
| Minority Interest | 0 | 0 | 0 | 0 |
High Debt Financing Dependency
As reported in recent financial statements, CoreWeave's total assets surged to $55.6B in 2026Q1, representing a rapid expansion that has significantly outpaced equity growth, thereby signaling a business trajectory that is increasingly reliant on external capital to sustain its aggressive infrastructure-heavy growth strategy.
The massive increase in total assets from $17.8B in 2024Q4 to $55.6B in 2026Q1 underscores a capital-intensive model that prioritizes scale over immediate balance sheet stability. Investors should monitor whether this asset accumulation translates into long-term utilization efficiency or if it merely reflects a high-risk bet on sustained AI compute demand.
Based on the 2026Q1 balance sheet, CoreWeave maintains a debt-to-equity ratio of 3.75, which, while lower than the 4.85 peak observed in 2025Q3, indicates that the company remains heavily reliant on debt financing to fund its massive, ongoing GPU cluster deployments.
The company's debt load of $17.8B suggests that its growth is fundamentally tethered to credit market conditions and the availability of asset-backed financing. This structure warrants investigation into the potential for refinancing risks should the market value of the underlying GPU collateral experience a significant correction.
According to quarterly filings, CoreWeave's net PPE reached $46.6B in 2026Q1, accounting for the vast majority of total assets and highlighting a business model that is almost entirely dependent on the continuous, high-volume acquisition of specialized processing hardware.
This heavy concentration in PPE suggests that the company's competitive moat is tied to hardware availability rather than diversified intellectual property. The rapid growth in net PPE implies that the company is aggressively refreshing its fleet, which may lead to significant depreciation headwinds in future periods.
As evidenced by the 2026Q1 current ratio of 0.31, CoreWeave's liquidity position appears strained, reflecting a persistent inability to cover short-term obligations with current assets given the massive cash outflows required to maintain its specialized AI infrastructure operations.
The consistently low current ratio suggests that the company operates with minimal margin for error regarding its working capital management. This liquidity profile implies that the business is highly sensitive to any delays in customer payments or disruptions in its ability to access new debt facilities.
Based on the provided figures, the company's reliance on $46.6B in net PPE creates a non-obvious risk, as the valuation of these assets is highly sensitive to the rapid obsolescence cycles inherent in the specialized AI hardware market.
If the useful life of the GPU fleet is shorter than the current depreciation schedule, the balance sheet may be overstating the true value of these assets. Investors should consider the potential for future impairment charges if the transition to newer chip architectures renders existing clusters less competitive.
Quick answers to the most common questions about buying CRWV stock.
As of 2025, CoreWeave, Inc. Class A Common Stock (CRWV) had total assets of $49.30B including $7.49B in current assets.
CoreWeave, Inc. Class A Common Stock (CRWV) carries total debt of $15.16B, offset by $3.98B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CoreWeave, Inc. Class A Common Stock (CRWV) has total shareholders' equity (book value) of $3.33B ($7.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CoreWeave, Inc. Class A Common Stock (CRWV) reported a current ratio of 0.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.