The company's capital structure remains volatile with a debt-to-equity ratio of 0.32 as of 2026Q1, while net PPE of $561.7M highlights the heavy asset concentration required for network deployment.
| Total Current Assets | 239.24M | 296.48M | 205.38M | 267.41M | 275.48M | 506.35M | 19.97M | 5.03M | 21.77M |
| Cash & Short-Term Investments | 122.44M | 151M | 117.27M | 208.67M | 246.19M | 484.88M | 7.91M | 1.4M | 17.13M |
| Cash Only | 122.44M | 151M | 117.27M | 208.67M | 246.19M | 484.88M | 7.91M | 1.4M | 17.13M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 33.31M | 38.63M | 63.58M | 44.18M | 19.09M | 13.68M | 7.11M | 1.51M | 3M |
| Days Sales Outstanding | 37.94 | 36.71 | 90.36 | 100.19 | 127.62 | 224.78 | 198.99 | 31.41 | 68.49 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 12.01K | 181.5K | 226.87K |
| Days Inventory Outstanding | - | - | - | - | - | - | 0.19 | 2.52 | 3.28 |
| Other Current Assets | 83.49M | 106.85M | 4.04M | 14.55M | 5.25M | 1.39M | 333.99K | 100.97K | 102.96K |
| Total Non-Current Assets | 681.11M | 668.35M | 598.39M | 539.21M | 454.24M | 239.98M | 162.17M | 64.55M | 57.84M |
| Property, Plant & Equipment | 561.69M | 563.71M | 504.26M | 456.95M | 359.97M | 133.28M | 71.27M | 61.04M | 54.44M |
| Fixed Asset Turnover | 0.77x | 0.68x | 0.51x | 0.35x | 0.15x | 0.17x | 0.18x | 0.29x | 0.29x |
| Goodwill | 31.05M | 31.05M | 31.05M | 31.05M | 31.05M | 31.05M | 22.11M | 0 | 0 |
| Intangible Assets | 31.23M | 32.42M | 38.75M | 49M | 60.61M | 72.23M | 67.96M | 2.7M | 3.13M |
| Long-Term Investments | 6.48M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 57.14M | 41.16M | 24.32M | 2.21M | 2.61M | 3.42M | 836K | 812.4K | 262.56K |
| Total Assets | 920.35M | 964.83M | 803.76M | 806.61M | 729.72M | 746.32M | 182.14M | 69.57M | 79.61M |
| Asset Turnover | 0.45x | 0.40x | 0.32x | 0.20x | 0.07x | 0.03x | 0.07x | 0.25x | 0.20x |
| Asset Growth % | 55.36% | 20.04% | -0.35% | 10.54% | -2.22% | 309.75% | 161.8% | -12.61% | - |
| Total Current Liabilities | 115.67M | 135.32M | 111.41M | 89.35M | 87.34M | 46.87M | 63.58M | 14.26M | 14.97M |
| Accounts Payable | 13.97M | 7.58M | 13.03M | 10.13M | 9.13M | 2.95M | 3M | 1.76M | 6.77M |
| Days Payables Outstanding | 12.99 | 9.12 | 20.91 | 24.45 | 55.31 | 37.02 | 48.32 | 24.47 | 97.89 |
| Short-Term Debt | 10.8M | 9.91M | 0 | 0 | 0 | 0 | 39.16M | 0 | 0 |
| Deferred Revenue (Current) | 193.17M | 55.06M | 0 | 32.35M | 33.89M | 16.74M | 9.31M | 0 | 0 |
| Other Current Liabilities | 43.1M | 62.77M | 48.1M | 9.79M | 7.25M | 5.16M | 3.5M | 8.78M | 4.44M |
| Current Ratio | 2.07x | 2.19x | 1.84x | 2.99x | 3.15x | 10.80x | 0.31x | 0.35x | 1.45x |
| Quick Ratio | 2.07x | 2.19x | 1.84x | 2.99x | 3.15x | 10.80x | 0.31x | 0.34x | 1.44x |
| Cash Conversion Cycle | 24.95 | - | - | - | - | - | 150.86 | 9.46 | -26.13 |
| Total Non-Current Liabilities | 452.01M | 443.56M | 248.62M | 176.89M | 125.25M | 111.53M | 29.07M | 40.92M | 0 |
| Long-Term Debt | 102.99M | 96.98M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 185.02M | 0 | 83.04M | 61.99M | 45.69M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 349.02M | 346.58M | 165.58M | 59.81M | 55.66M | 89.82M | 26.34M | 40.92M | 0 |
| Total Liabilities | 567.68M | 578.89M | 360.03M | 266.24M | 212.6M | 158.4M | 92.65M | 55.18M | 14.97M |
| Total Debt | 113.8M | 106.89M | 90.37M | 68M | 50.65M | 0 | 39.16M | 0 | 0 |
| Net Debt | -8.64M | -44.11M | -26.9M | -140.67M | -195.55M | -484.88M | 31.25M | -1.4M | -17.13M |
| Debt / Equity | 0.32x | 0.28x | 0.20x | 0.13x | 0.10x | - | 0.44x | - | - |
| Debt / EBITDA | -2.90x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.22x | - | - | - | - | - | - | - | - |
| Interest Coverage | -11.79x | -15.36x | - | - | -5057.19x | -28.99x | -32.79x | - | - |
| Total Equity | 352.66M | 385.94M | 443.73M | 540.38M | 517.13M | 587.92M | 89.49M | 14.39M | 27.76M |
| Equity Growth % | -64.86% | -13.02% | -17.88% | 4.5% | -12.04% | 556.99% | 521.74% | -48.15% | - |
| Book Value per Share | 2.62 | 2.89 | 4.10 | 5.97 | 7.53 | 8.64 | 1.30 | 0.21 | 0.40 |
| Total Shareholders' Equity | 352.66M | 385.94M | -256.11M | -160.59M | -358.1M | -1.36B | 89.49M | 14.39M | 27.76M |
| Common Stock | 0 | 0 | 30K | 30K | 27K | 27K | 0 | 22.17M | 22.17M |
| Retained Earnings | 0 | 0 | -256.14M | -248.55M | -375.66M | -1.36B | -47.79M | -104.48M | -61.57M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 699.84M | 700.96M | 875.23M | 1.95B | 0 | 0 | 0 |
Capital Intensity and Dilution
According to reported financial statements, EVgo's equity base has experienced significant volatility, swinging from negative territory in 2025Q3 to $352.7M in 2026Q1, which suggests a reliance on periodic capital raises to offset persistent operational losses and maintain the company's aggressive infrastructure deployment strategy.
The fluctuation in equity suggests that the company's balance sheet trajectory is heavily dependent on external financing rather than organic value creation. Investors should monitor whether this pattern of equity-funded growth continues to dilute existing shareholders without achieving a corresponding inflection in core profitability.
As reported in recent filings, EVgo's net property, plant, and equipment (PPE) has grown to $561.7M, representing the vast majority of its $920.3M total assets, which underscores the company's asset-heavy business model and the inherent risk of technological obsolescence for its charging hardware.
The heavy concentration in physical assets implies that the company's long-term success is tethered to the longevity and utilization of its charging stalls. If newer, faster charging standards emerge, the current asset base may face significant impairment risks, potentially impacting the company's book value.
Based on the 2026Q1 balance sheet, EVgo maintains a current ratio of 2.07, yet the cash position of $122.4M appears modest relative to the company's ongoing capital expenditure requirements and the persistent negative free cash flow observed in recent quarterly reporting periods.
While the current ratio suggests a sufficient short-term buffer, the underlying cash burn rate warrants caution regarding the company's runway. The liquidity position appears to be a function of timely capital raises rather than operational self-sufficiency, leaving the firm vulnerable to shifts in market sentiment.
As indicated by the 2026Q1 data, EVgo's debt-to-equity ratio stands at 0.32, reflecting a moderate leverage profile that has fluctuated significantly from a high of 0.67 in 2025Q3, suggesting that management is actively managing its debt load amidst a challenging interest rate environment.
The reliance on debt to supplement equity-funded growth introduces refinancing risks, particularly if the company fails to reach cash flow break-even before existing obligations mature. Investors should scrutinize the terms of this debt to determine if future interest expenses could further constrain the company's already thin margins.
Analysis of the balance sheet reveals $47.8M in deferred revenue as of 2026Q1, which, while providing a visibility into future service delivery, may mask the true underlying demand for charging services by including non-refundable OEM prepayments that do not reflect current retail utilization.
This deferred revenue component complicates the assessment of the company's core transactional health, as it may artificially inflate short-term liabilities while obscuring the actual pace of customer adoption. Analysts should adjust for these items to better understand the recurring nature of the company's revenue streams.
Quick answers to the most common questions about buying EVGO stock.
As of 2025, EVgo, Inc. (EVGO) had total assets of $964.8M including $296.5M in current assets.
EVgo, Inc. (EVGO) carries total debt of $106.9M, offset by $151.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
EVgo, Inc. (EVGO) has total shareholders' equity (book value) of $385.9M ($2.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
EVgo, Inc. (EVGO) reported a current ratio of 2.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.