The company maintains a conservative capital structure with a debt-to-equity ratio of only 0.01 and a robust current ratio of 2.76, supported by $828.5 million in cash reserves.
| Total Current Assets | 3.99B | 3.95B | 4.02B | 3.3B | 3.25B | 1.75B | 898.82M |
| Cash & Short-Term Investments | 3.21B | 2.92B | 3.13B | 3.04B | 2.72B | 1.42B | 594.07M |
| Cash Only | 828.5M | 787.38M | 588.64M | 948.77M | 1.3B | 1.25B | 273.61M |
| Short-Term Investments | 2.38B | 2.13B | 2.54B | 2.09B | 1.42B | 170.55M | 320.46M |
| Accounts Receivable | 243.77M | 563.43M | 277.45M | 26.93M | 98.03M | 80.86M | 49.5M |
| Days Sales Outstanding | 15.79 | 108.56 | 34.23 | 3.46 | 9.98 | 10.5 | 8.93 |
| Inventory | 99.87M | 118.29M | 106.53M | 1.05M | 4.37M | 0 | 0 |
| Days Inventory Outstanding | 18.31 | 39.58 | 32.15 | 0.69 | 2.86 | - | - |
| Other Current Assets | 435.46M | 98M | 179.63M | 18.21M | 29.8M | 53.44M | 108.9M |
| Total Non-Current Assets | 419.47M | 178.38M | 401.79M | 986.86M | 1.15B | 1.04B | 1.13B |
| Property, Plant & Equipment | 355.77M | 150.66M | 343.13M | 913.94M | 965.15M | 968.65M | 995.43M |
| Fixed Asset Turnover | 4.93x | 12.57x | 8.62x | 3.11x | 3.71x | 2.90x | 2.03x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 40.63M | 25.33M | 36.5M | 41.93M | 185.1M | 71.17M | 131.27M |
| Total Assets | 4.41B | 4.13B | 4.42B | 4.29B | 4.4B | 2.79B | 2.03B |
| Asset Turnover | 0.70x | 0.46x | 0.67x | 0.66x | 0.82x | 1.01x | 1.00x |
| Asset Growth % | -0.73% | -6.62% | 3.09% | -2.51% | 57.88% | 37.53% | - |
| Total Current Liabilities | 1.44B | 1.24B | 1.49B | 1.42B | 1.03B | 854.83M | 1.06B |
| Accounts Payable | 794.81M | 307.78M | 439.72M | 778.83M | 392.72M | 305.86M | 185.5M |
| Days Payables Outstanding | 251.11 | 102.99 | 132.7 | 510.44 | 257.27 | 259.16 | 231.48 |
| Short-Term Debt | 0 | 0 | 0 | 76.27M | 0 | 24.5M | 191M |
| Deferred Revenue (Current) | 229.36M | 285.63M | 297.49M | 229.36M | 211.94M | 198.64M | 235.19M |
| Other Current Liabilities | 0 | 59.85M | 7.4M | 2.59M | 26.57M | 15.9M | 11.87M |
| Current Ratio | 2.76x | 3.17x | 2.70x | 2.32x | 3.16x | 2.04x | 0.85x |
| Quick Ratio | 2.69x | 3.08x | 2.63x | 2.32x | 3.15x | 2.04x | 0.85x |
| Cash Conversion Cycle | -217 | 45.15 | -66.32 | -506.29 | -244.42 | - | - |
| Total Non-Current Liabilities | 198.1M | 226.85M | 204.23M | 223.46M | 137.59M | 232.19M | 119.25M |
| Long-Term Debt | 0 | 0 | 0 | 32.28M | 85.66M | 197.3M | 102.02M |
| Capital Lease Obligations | 17.38M | 5.29M | 7.64M | 854K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 34.45M | 33.89M | 16.23M |
| Other Non-Current Liabilities | 189.49M | 221.57M | 196.59M | 190.32M | 17.49M | 1M | 1M |
| Total Liabilities | 1.64B | 1.47B | 1.69B | 1.65B | 1.17B | 1.09B | 1.18B |
| Total Debt | 16.46M | 6.58M | 15.04M | 119.17M | 85.66M | 221.8M | 293.02M |
| Net Debt | -812.04M | -780.8M | -573.6M | -829.61M | -1.21B | -1.03B | 19.41M |
| Debt / Equity | 0.01x | 0.00x | 0.01x | 0.05x | 0.03x | 0.13x | 0.34x |
| Debt / EBITDA | -0.16x | 0.08x | 0.05x | - | 0.30x | 0.47x | 0.69x |
| Net Debt / EBITDA | 7.66x | -9.01x | -2.09x | - | -4.21x | -2.17x | 0.05x |
| Interest Coverage | -11.98x | - | 26.72x | -18.08x | -2.27x | 3.31x | 8.88x |
| Total Equity | 2.77B | 2.66B | 2.73B | 2.64B | 3.23B | 1.7B | 850.01M |
| Equity Growth % | -7.79% | -2.67% | 3.34% | -18.28% | 90.27% | 99.84% | - |
| Book Value per Share | 21.29 | 20.78 | 21.00 | 20.38 | 31.80 | 13.62 | 6.82 |
| Total Shareholders' Equity | 2.77B | 2.66B | 2.73B | 2.64B | 3.23B | 1.7B | 850.01M |
| Common Stock | 347K | 347K | 347K | 347K | 347K | 83K | 83K |
| Retained Earnings | -9.23B | -9.27B | -9.26B | -9.32B | -8.61B | -3.66B | -551.94M |
| Treasury Stock | -5.13M | -45.81M | -5.55M | -6.82M | -27.78M | 0 | 0 |
| Accumulated OCI | 218.61M | 219.66M | 199.42M | 180.52M | 68.15M | 218.42M | -19.22M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Structural demand and competition
According to recent financial filings, Smart Share Global maintains a total asset base of $4.4 billion as of 2023Q3, yet this stability masks a significant underlying shift in capital allocation as the company navigates a period of sustained revenue contraction and persistent operational losses.
The relative consistency in total assets suggests that the company is not aggressively liquidating its infrastructure despite the clear downward trend in top-line performance. Investors should monitor whether this asset retention reflects a strategic commitment to market presence or an inability to efficiently divest from underperforming hardware deployments.
Based on reported figures, the company holds $828.5 million in cash as of 2023Q3, providing a significant liquidity cushion that supports a current ratio of 2.76, which appears to insulate the firm from immediate solvency risks despite the ongoing erosion of its core business model.
This liquidity position is the primary defensive feature of the balance sheet, effectively shielding the company from the immediate consequences of its negative operating margins. However, the lack of clear reinvestment strategy suggests this capital may remain stagnant rather than being deployed to reverse the current revenue decline.
As reported in financial statements, net PPE has fluctuated significantly, dropping from $913.9 million in 2022Q4 to $355.8 million by 2023Q3, which may indicate either aggressive depreciation schedules or a strategic reduction in the physical footprint of the power bank rental network.
The sharp decline in net PPE warrants further investigation into the company's maintenance capital expenditure requirements and the actual useful life of its hardware. If this reduction reflects a shrinking network, it may signal a long-term contraction in the company's addressable market reach.
Based on the provided balance sheet data, the company reports a persistent accumulated deficit of $9.2 billion as of 2023Q3, which highlights the long-term challenge of achieving profitability despite the company's significant scale and historical capital raises in the public markets.
The massive negative retained earnings figure underscores the historical difficulty in converting the rental business model into a self-sustaining, profitable enterprise. This structural imbalance suggests that equity value remains highly sensitive to any potential future impairment of assets or further operational deterioration.
While the balance sheet appears fortress-like due to high cash levels, the absence of goodwill and the rapid volatility in PPE values suggest that the company's reported book value may not accurately reflect the true economic utility of its aging power bank rental infrastructure.
Investors should be cautious, as the lack of intangible assets might imply that the company's competitive advantage is entirely dependent on physical hardware that is subject to rapid technological obsolescence. The reliance on cash to offset operational losses may be masking a fundamental decline in the business's long-term viability.
Quick answers to the most common questions about buying EM stock.
As of 2024, Smart Share Global Limited (EM) had total assets of $4.13B including $3.95B in current assets.
Smart Share Global Limited (EM) carries total debt of $6.6M, offset by $2.92B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Smart Share Global Limited (EM) has total shareholders' equity (book value) of $2.66B ($20.78 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Smart Share Global Limited (EM) reported a current ratio of 3.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.