The balance sheet reflects a critical solvency risk, characterized by a depressed current ratio of 0.36 and a total debt burden of $113.0 million against negative equity.
| Total Current Assets | 41.9M | 68.52M | 71.88M | 91.36M | 84.53M | 607.26M | 14.44M | 19.03M |
| Cash & Short-Term Investments | 12.26M | 34.93M | 7.14M | 4.03M | 16.97M | 505.09M | 1.12M | 2.22M |
| Cash Only | 12.26M | 34.93M | 7.14M | 4.03M | 16.97M | 505.09M | 1.12M | 2.22M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 658K | 600K | 0 | 7K | 0 | 0 | 40K | 0 |
| Days Sales Outstanding | 852.66 | 408.58 | - | 3.26 | - | - | - | - |
| Inventory | 1.47M | 3.26M | 27.49M | 34.23M | 4.46M | 0 | 0 | 0 |
| Days Inventory Outstanding | 28.98 | 12.1 | 119.39 | 293.23 | - | - | - | - |
| Other Current Assets | 21.88M | 12.12M | 1.32M | 39.79M | 4.6M | 27.68M | 12.51M | 15.85M |
| Total Non-Current Assets | 208.24M | 209.34M | 353.52M | 477.13M | 444.76M | 300.18M | 301.94M | 296.18M |
| Property, Plant & Equipment | 161.79M | 160.25M | 350.35M | 434.3M | 438.27M | 293.13M | 293.93M | 292.53M |
| Fixed Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | - | - | - | - |
| Goodwill | 23.69M | 25.76M | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.65M | 4.64M | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 18.11M | 18.68M | 3.17M | 4.88M | 6.49M | 7.04M | 7.57M | 3.66M |
| Total Assets | 250.14M | 277.86M | 425.4M | 568.49M | 529.29M | 907.43M | 316.38M | 315.22M |
| Asset Turnover | 0.00x | 0.00x | 0.00x | 0.00x | - | - | - | - |
| Asset Growth % | -116.19% | -34.68% | -25.17% | 7.41% | -41.67% | 186.82% | 0.37% | - |
| Total Current Liabilities | 117.91M | 148.17M | 192.71M | 261.18M | 268.25M | 293.81M | 849.05M | 706.13M |
| Accounts Payable | 53.37M | 57.28M | 71.41M | 93.17M | 91.6M | 37.77M | 86.6M | 68.65M |
| Days Payables Outstanding | 246.48 | 212.67 | 310.2 | 798.16 | - | - | - | - |
| Short-Term Debt | 8.45M | 7.94M | 9.53M | 100.91M | 14.06M | 146.03M | 481.55M | 413.5M |
| Deferred Revenue (Current) | 11.74M | 4.38M | 3.03M | 3.25M | 3.57M | 4.35M | 3.52M | 0 |
| Other Current Liabilities | 34.06M | 17.4M | 45.79M | 9.82M | 115.47M | 11.78M | 139.03M | 145.79M |
| Current Ratio | 0.36x | 0.46x | 0.37x | 0.35x | 0.32x | 2.07x | 0.02x | 0.03x |
| Quick Ratio | 0.34x | 0.44x | 0.23x | 0.22x | 0.30x | 2.07x | 0.02x | 0.03x |
| Cash Conversion Cycle | 635.17 | 208.01 | - | -501.67 | - | - | - | - |
| Total Non-Current Liabilities | 112.99M | 121.93M | 117.73M | 79.08M | 60.05M | 45.97M | 46.67M | 48.75M |
| Long-Term Debt | 44.7M | 57.01M | 48.02M | 0 | 26.01M | 34.68M | 9.17M | 0 |
| Capital Lease Obligations | 207.81M | 50.34M | 38.71M | 39.79M | 24.61M | 7.57M | 36.5M | 41.16M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 37.95M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 8.41M | 14.59M | 31M | 1.34M | 9.43M | 3.72M | 1M | 7.59M |
| Total Liabilities | 230.9M | 270.1M | 310.43M | 340.26M | 328.3M | 339.78M | 895.72M | 754.88M |
| Total Debt | 113.03M | 117.68M | 99.15M | 144.32M | 68.58M | 190.85M | 531.62M | 454.67M |
| Net Debt | 100.77M | 82.75M | 92.01M | 140.29M | 51.62M | -314.24M | 530.5M | 452.45M |
| Debt / Equity | 5.87x | 15.17x | 0.86x | 0.63x | 0.34x | 0.34x | - | - |
| Debt / EBITDA | -1.00x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.89x | - | - | - | - | - | - | - |
| Interest Coverage | -47.62x | -44.90x | -20.45x | -140.94x | -62.79x | -10.02x | -0.88x | - |
| Total Equity | 19.24M | 7.76M | 114.97M | 228.24M | 200.99M | 567.65M | -579.34M | -439.66M |
| Equity Growth % | -364.45% | -93.25% | -49.63% | 13.55% | -64.59% | 197.98% | -31.77% | - |
| Book Value per Share | 0.09 | 0.06 | 6.20 | 947.55 | 5253.87 | 23348.72 | -35409.69 | -26874.21 |
| Total Shareholders' Equity | -12.39M | -27.34M | 114.97M | 228.24M | 200.99M | 567.65M | -579.34M | -439.66M |
| Common Stock | 29K | 21K | 6K | 4K | 0 | 17K | 15K | 0 |
| Retained Earnings | -4.74B | -4.71B | -4.31B | -3.96B | -3.53B | -2.91B | -2.39B | -2.24B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2.57M | 3.82M | 7.74M | 5.86M | 3.5M | -6.95M | -5.97M | -3.28M |
| Minority Interest | 31.64M | 35.1M | 0 | 0 | 0 | 0 | 0 | 0 |
Existential liquidity and insolvency
According to quarterly filings, Faraday Future's total assets have declined from $568.5 million in 2023Q4 to $250.1 million by 2026Q1, while equity has shifted into a negative position of -$12.4 million, signaling a rapid deterioration in the company's fundamental financial health and long-term viability.
The consistent decline in total assets alongside the erosion of shareholder equity suggests that the company is consuming its capital base to fund ongoing operating losses. This trajectory indicates that the business model has failed to reach a self-sustaining scale, leaving the balance sheet increasingly fragile.
As reported in financial statements, the company's current ratio remains severely depressed at 0.36 as of 2026Q1, with cash reserves of only $12.3 million, highlighting an acute liquidity crisis that leaves the firm with minimal buffer against operational shocks or further production delays.
A current ratio consistently below 0.50 suggests that the company lacks the liquid assets necessary to cover its short-term obligations. Investors should monitor this metric closely, as it implies a high reliance on external financing to maintain even basic operations.
Based on the provided balance sheet data, net property, plant, and equipment have fallen from $434.3 million in 2023Q4 to $161.8 million in 2026Q1, reflecting both the depreciation of existing infrastructure and a lack of meaningful capital reinvestment into the company's manufacturing capabilities.
The reduction in PPE value suggests that the company is not successfully scaling its production footprint, which is critical for achieving the economies of scale required for profitability. This trend may indicate that the firm is struggling to maintain its core manufacturing assets in a functional state.
As indicated by the 2026Q1 data, the company carries $113.0 million in total debt against negative equity, resulting in a debt-to-equity ratio that is mathematically distorted, which underscores the extreme financial risk inherent in the firm's current capital structure and reliance on debt financing.
The presence of significant debt on a balance sheet with negative equity suggests that the company is effectively insolvent on a book-value basis. This leverage profile warrants further investigation into the terms of existing debt agreements and the potential for future dilutive capital raises.
Analysis of the financial statements reveals an accumulated deficit of $4.7 billion as of 2026Q1, a figure that dwarfs the company's total assets and suggests that historical capital allocation has been profoundly value-destructive for shareholders over the observed period.
The massive accumulated deficit serves as a stark indicator of the company's inability to convert R&D and capital expenditures into profitable commercial outcomes. This distortion makes traditional balance sheet analysis difficult, as the headline figures are overshadowed by the weight of past operational failures.
Quick answers to the most common questions about buying FFAIW stock.
As of 2025, Faraday Future Intelligent Electric Inc. (FFAIW) had total assets of $277.9M including $68.5M in current assets.
Faraday Future Intelligent Electric Inc. (FFAIW) carries total debt of $117.7M, offset by $34.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Faraday Future Intelligent Electric Inc. (FFAIW) has total shareholders' equity (book value) of $-27.3M ($0.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Faraday Future Intelligent Electric Inc. (FFAIW) 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.