The company maintains a conservative capital structure with a debt-to-equity ratio near zero, though the current ratio has compressed significantly from 4.05 in 2024Q1 to 1.75 in 2026Q1.
| Total Current Assets | 512.35B | 602.29M | 762.88M | 815.68M | 450.64M | 443.79M | 148.56M | 108.18M |
| Cash & Short-Term Investments | 325.08B | 355M | 611.09M | 654.61M | 349.18M | 385.36M | 104.05M | 86.03M |
| Cash Only | 311.89B | 330.3M | 495.24M | 654.61M | 349.18M | 385.36M | 104.05M | 86.03M |
| Short-Term Investments | 13.19B | 24.69M | 115.85M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 148B | 210.75M | 129.27M | 142.85M | 81.94M | 44.59M | 35.75M | 19.45M |
| Days Sales Outstanding | 71.86 | 123.47 | 95.87 | 129.35 | 103.35 | 80.92 | 99.02 | 74.77 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - |
| Other Current Assets | 39.27B | 36.54M | 22.53M | 18.23M | 19.53M | 4M | 5M | 0 |
| Total Non-Current Assets | 650.03B | 651.02M | 359.56M | 264.05M | 223.64M | 196.06M | 122.88M | 32.82M |
| Property, Plant & Equipment | 24.33B | 22.13M | 17.16M | 15.13M | 13.32M | 9.44M | 5.1M | 4.85M |
| Fixed Asset Turnover | 30.93x | 28.16x | 28.68x | 26.63x | 21.73x | 21.30x | 25.83x | 19.57x |
| Goodwill | 406.77B | 406.51M | 149.56M | 121.65M | 97.77M | 85.84M | 44.65M | 12.92M |
| Intangible Assets | 183.15B | 189.05M | 118.68M | 108.18M | 97.62M | 93.6M | 68.21M | 14.3M |
| Long-Term Investments | 19.28M | 0 | 50.13M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 35.78B | 33.34M | 24.04M | 19.09M | 14.95M | 7.18M | 4.92M | 749K |
| Total Assets | 1.16T | 1.25B | 1.12B | 1.08B | 674.29M | 639.85M | 271.44M | 141M |
| Asset Turnover | 0.65x | 0.50x | 0.44x | 0.37x | 0.43x | 0.31x | 0.49x | 0.67x |
| Asset Growth % | 109547.24% | 11.66% | 3.96% | 60.13% | 5.38% | 135.72% | 92.51% | - |
| Total Current Liabilities | 293.53B | 401.76M | 289.77M | 273.79M | 177.28M | 117.48M | 88.38M | 82.78M |
| Accounts Payable | 217.43B | 326.1M | 15.35M | 12.59M | 13.32M | 10.24M | 5.44M | 2.9M |
| Days Payables Outstanding | 104.85K | 495.2 | 31.57 | 31.18 | 45.06 | 53.26 | 41.5 | 28.85 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.9M |
| Deferred Revenue (Current) | 22.74B | 19.95M | 7.34M | 6.97M | 5.22M | 5.49M | 1.23M | 1.32M |
| Other Current Liabilities | 53.43B | 55.72M | 19.05M | 19.75M | 16.94M | 21.57M | 16.11M | 5.7M |
| Current Ratio | 1.75x | 1.50x | 2.63x | 2.98x | 2.54x | 3.78x | 1.68x | 1.31x |
| Quick Ratio | 1.75x | 1.50x | 2.63x | 2.98x | 2.54x | 3.78x | 1.68x | 1.31x |
| Cash Conversion Cycle | -104.78K | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 16.62B | 16.38M | 17.9M | 19.82M | 15.11M | 40.17M | 264.82M | 133.5M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 25.94M | 24.35M | 20.74M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 13.42B | 12.9M | 12.64M | 15.39M | 12.15M | 8.4M | 481K | 295K |
| Other Non-Current Liabilities | 3.24B | 3.48M | 5.26M | 4.43M | 2.96M | 5.83M | 239.99M | 112.47M |
| Total Liabilities | 310.15B | 418.14M | 307.68M | 293.61M | 192.38M | 157.64M | 353.2M | 216.28M |
| Total Debt | 0 | 0 | 1.72M | 1.47M | 1.81M | 25.94M | 24.35M | 24.63M |
| Net Debt | -311.89B | -330.3M | -493.52M | -653.14M | -347.37M | -359.42M | -79.7M | -61.39M |
| Debt / Equity | 0.00x | - | 0.00x | 0.00x | 0.00x | 0.05x | - | - |
| Debt / EBITDA | 0.00x | - | 0.17x | - | - | - | - | - |
| Net Debt / EBITDA | -28.80x | -8.84x | -48.82x | - | - | - | - | - |
| Interest Coverage | -1.84x | 1.01x | 4.46x | -10.70x | -29.85x | -11.83x | -6.22x | -6.96x |
| Total Equity | 852.23B | 835.17M | 814.77M | 786.12M | 481.9M | 482.2M | -81.76M | -75.28M |
| Equity Growth % | 108565.39% | 2.5% | 3.64% | 63.13% | -0.06% | 689.76% | -8.61% | - |
| Book Value per Share | 6660.84 | 6.54 | 6.30 | 6.85 | 4.46 | 4.53 | -0.81 | -0.74 |
| Total Shareholders' Equity | 852.23B | 835.17M | 814.77M | 786.12M | 481.9M | 482.2M | -81.76M | -75.28M |
| Common Stock | 13M | 13K | 13K | 12K | 11K | 11K | 2K | 2K |
| Retained Earnings | -144.85B | -157.37M | -170.87M | -173.77M | -165.2M | -125.86M | -97.77M | -86.67M |
| Treasury Stock | 0 | 0 | -46.27M | -747K | -748K | -748K | -748K | -748K |
| Accumulated OCI | 1.55B | 2.49M | -2.07M | 1.32M | -1.91M | -399K | -214K | 102K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and goodwill volatility
As reported in recent financial filings, Flywire's current ratio has compressed from a peak of 4.05 in 2024Q1 to 1.75 by 2026Q1, reflecting a significant reduction in cash reserves relative to the company's evolving short-term liability profile during recent operational cycles.
The sharp decline in the current ratio suggests that the company's liquidity cushion is narrowing as it scales operations and manages seasonal payment flows. Investors should monitor whether this trend indicates a structural shift in working capital requirements or merely the impact of recent capital allocation decisions.
Based on the provided balance sheet data, goodwill has surged from $119.7 million in 2024Q1 to $406.8 million in 2026Q1, now representing a substantial portion of total assets that warrants close scrutiny regarding potential future impairment risks.
The rapid accumulation of intangible assets suggests an aggressive inorganic growth strategy, which may inflate the balance sheet without providing immediate tangible support for operations. This reliance on goodwill implies that the company's asset base is highly sensitive to the long-term performance of its acquired business units.
According to historical balance sheet figures, Flywire continues to report a negative retained earnings balance, which reached -$144.9 million in 2026Q1, indicating that the company has yet to achieve the cumulative profitability necessary to build a self-sustaining equity base.
The persistent deficit in retained earnings highlights the ongoing struggle to convert top-line growth into bottom-line value, likely exacerbated by heavy stock-based compensation and operational spending. This trend suggests that equity growth is currently driven more by external financing or accounting adjustments than by organic earnings retention.
As indicated by the company's reported figures, Flywire has maintained a largely debt-free profile for most of the last ten quarters, with debt-to-equity ratios remaining near zero, suggesting that management has prioritized equity-based funding over traditional credit facilities.
The absence of significant long-term debt provides a degree of flexibility, though it also implies that the company is not utilizing leverage to optimize its capital structure. While this reduces immediate refinancing risk, it also suggests that the company's growth is heavily dependent on its ability to access equity markets.
Quick answers to the most common questions about buying FLYW stock.
As of 2025, Flywire Corporation (FLYW) had total assets of $1.25B including $602.3M in current assets.
Flywire Corporation (FLYW) carries total debt of $0.0M, offset by $355.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Flywire Corporation (FLYW) has total shareholders' equity (book value) of $835.2M ($6.54 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Flywire Corporation (FLYW) reported a current ratio of 1.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.