The company has demonstrated disciplined capital management by reducing total debt from $3.1 billion in 2024Q1 to $1.7 billion by 2026Q1.
| Total Current Assets | 6.04B | 6.21B | 6.42B | 6.33B | 5.8B | 5.29B | 2.99B | 3.51B |
| Cash & Short-Term Investments | 3B | 3.05B | 3.39B | 3.47B | 3.05B | 2.96B | 908.08M | 997.32M |
| Cash Only | 1.85B | 1.81B | 2.19B | 2.39B | 2.35B | 2.94B | 908.08M | 997.32M |
| Short-Term Investments | 1.15B | 1.24B | 1.19B | 1.08B | 701M | 25M | 0 | 0 |
| Accounts Receivable | 1.28B | 1.52B | 1.39B | 1.37B | 1.41B | 1.21B | 975.7M | 1.78B |
| Days Sales Outstanding | 59.93 | 81.97 | 75.33 | 67.55 | 63.38 | 66.96 | 73.41 | 111.82 |
| Inventory | 1.69B | 1.58B | 1.62B | 1.49B | 1.34B | 1.12B | 919.52M | 351.92M |
| Days Inventory Outstanding | 120.25 | 113.29 | 116.25 | 102.58 | 83.27 | 73.43 | 60.33 | 20.24 |
| Other Current Assets | 68M | 53M | 13M | 0 | 0 | 0 | 382.58M | 357.36M |
| Total Non-Current Assets | 10.86B | 10.94B | 10.38B | 11.72B | 12.04B | 9.74B | 9.33B | 10.98B |
| Property, Plant & Equipment | 7.81B | 7.79B | 8.26B | 10.16B | 10.6B | 8.71B | 8.23B | 9.61B |
| Fixed Asset Turnover | 0.87x | 0.87x | 0.82x | 0.73x | 0.77x | 0.76x | 0.59x | 0.60x |
| Goodwill | 0 | 407M | 75M | 18M | 18M | 18M | 18.02M | 5.48M |
| Intangible Assets | 1.37B | 961M | 585M | 373M | 345M | 359M | 529.92M | 629.3M |
| Long-Term Investments | 3.96B | 939M | 1.05B | 578M | 509M | 260.41M | 49.44M | 85.5M |
| Other Non-Current Assets | 275M | 837M | 227M | 343M | 281M | 33.59M | 67.76M | 243.76M |
| Total Assets | 16.9B | 17.14B | 16.8B | 18.04B | 17.84B | 15.03B | 12.32B | 14.5B |
| Asset Turnover | 0.41x | 0.40x | 0.40x | 0.41x | 0.45x | 0.44x | 0.39x | 0.40x |
| Asset Growth % | -14.55% | 2.04% | -6.9% | 1.14% | 18.72% | 21.96% | -15.01% | - |
| Total Current Liabilities | 2.33B | 2.37B | 3.04B | 3.1B | 3.36B | 3.16B | 1.9B | 2.34B |
| Accounts Payable | 419M | 491M | 406M | 511M | 532M | 551M | 414.55M | 539.33M |
| Days Payables Outstanding | 32.85 | 35.27 | 29.06 | 35.25 | 33.09 | 36.09 | 27.2 | 31.03 |
| Short-Term Debt | 84M | 86M | 753M | 571M | 223M | 297M | 381.81M | 686.91M |
| Deferred Revenue (Current) | 633M | 777M | 968M | 1.01B | 702M | 562M | 144.97M | 142.65M |
| Other Current Liabilities | 588M | 114M | 305M | 151M | 200M | 234M | 352.68M | 240.4M |
| Current Ratio | 2.59x | 2.62x | 2.11x | 2.04x | 1.73x | 1.67x | 1.58x | 1.50x |
| Quick Ratio | 1.87x | 1.95x | 1.57x | 1.56x | 1.33x | 1.32x | 1.09x | 1.35x |
| Cash Conversion Cycle | 147.33 | 159.98 | 162.51 | 134.88 | 113.57 | 104.3 | 106.55 | 101.04 |
| Total Non-Current Liabilities | 2.82B | 2.79B | 2.93B | 3.79B | 4.52B | 3.83B | 3.18B | 3.14B |
| Long-Term Debt | 1.06B | 1.06B | 1.05B | 1.8B | 2.29B | 1.72B | 1.96B | 2.04B |
| Capital Lease Obligations | 1.85B | 487M | 424M | 350M | 270M | 291M | 333.24M | 388.26M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 26M | 2M | 8.42M | 591K |
| Other Non-Current Liabilities | 559M | 524M | 475M | 288M | 318M | 308M | 745.44M | 515.08M |
| Total Liabilities | 5.15B | 5.16B | 5.97B | 6.89B | 7.88B | 7B | 5.08B | 5.48B |
| Total Debt | 1.72B | 1.71B | 2.32B | 2.75B | 2.86B | 2.44B | 2.8B | 3.25B |
| Net Debt | -125M | -102M | 128M | 367M | 504M | -500M | 1.89B | 2.25B |
| Debt / Equity | 0.15x | 0.14x | 0.21x | 0.25x | 0.29x | 0.30x | 0.39x | 0.36x |
| Debt / EBITDA | 0.82x | 0.81x | 1.71x | 1.07x | 1.02x | 1.57x | 3.24x | 3.08x |
| Net Debt / EBITDA | -0.06x | -0.05x | 0.09x | 0.14x | 0.18x | -0.32x | 2.19x | 2.14x |
| Interest Coverage | - | - | -0.44x | 8.65x | 13.88x | -0.68x | -7.98x | -4.10x |
| Total Equity | 11.75B | 11.98B | 10.82B | 11.15B | 9.96B | 8.03B | 7.24B | 9.02B |
| Equity Growth % | 19.59% | 10.71% | -2.93% | 11.96% | 23.99% | 10.93% | -19.71% | - |
| Book Value per Share | 20.94 | 21.47 | 19.57 | 20.06 | 18.04 | 15.88 | 13.62 | 17.48 |
| Total Shareholders' Equity | 11.69B | 11.93B | 10.78B | 11.1B | 9.91B | 7.97B | 7.18B | 9.02B |
| Common Stock | 11M | 11M | 11M | 11M | 11M | 11M | 10M | 10M |
| Retained Earnings | -12.28B | -12.38B | -13.27B | -13B | -14.02B | -15.47B | -15.22B | -13.87B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 110M | 78M | 17M | 67M | 92M | -54M | 10.68B | 11.17B |
| Minority Interest | 55M | 55M | 48M | 47M | 47M | 58M | 65.13M | 0 |
High fixed cost sensitivity
According to recent balance sheet data, GFS has successfully reduced total debt from $3.1 billion in 2024Q1 to $1.7 billion by 2026Q1, signaling a disciplined approach to capital structure management despite the ongoing requirement for significant investment in specialized semiconductor fabrication capacity and infrastructure.
The reduction in debt levels suggests management is prioritizing balance sheet flexibility as they navigate cyclical demand in the foundry sector. This trajectory appears to strengthen the company's financial position, potentially providing a buffer against the high fixed-cost volatility inherent in their manufacturing model.
As reported in financial statements, the company's debt-to-equity ratio has improved from 0.27 in 2024Q1 to 0.15 in 2026Q1, reflecting a concerted effort to lower interest-bearing obligations while maintaining a stable equity base throughout a period of significant industry-wide inventory corrections and demand fluctuations.
This deleveraging trend suggests that GFS is positioning itself to better withstand potential downturns in wafer utilization. Investors should monitor whether this lower leverage profile persists as the company continues its capital-intensive expansion of domestic manufacturing facilities.
Based on reported figures, net property, plant, and equipment remains the dominant component of the $16.9 billion asset base, confirming that GFS operates a capital-heavy business model that requires continuous reinvestment to maintain its competitive edge in feature-rich, non-leading-edge semiconductor process nodes.
The concentration of assets in PPE underscores the company's reliance on high utilization rates to absorb depreciation expenses. The moderate growth in goodwill suggests that the company has largely avoided aggressive, acquisition-led expansion, focusing instead on organic capacity development.
As indicated by the current ratio of 2.59 in 2026Q1, GFS maintains a robust liquidity position, providing a meaningful cushion against short-term operational shocks and the working capital requirements associated with its global manufacturing footprint across the United States, Germany, and Singapore.
The current ratio suggests that the company is well-equipped to meet its near-term obligations without immediate reliance on external financing. This liquidity profile appears to be a strategic necessity given the cyclical nature of the semiconductor industry and the potential for sudden shifts in customer demand.
Analysis of the balance sheet reveals a persistent accumulated deficit of $12.3 billion as of 2026Q1, which may distort the perception of equity quality despite the company's transition to consistent profitability following its strategic pivot away from the leading-edge transistor race in 2018.
While the negative retained earnings figure is a legacy of past capital-intensive operations, it warrants further investigation to ensure it does not obscure the underlying cash-generating capability of the current business model. Investors should distinguish between these historical accounting artifacts and the company's current ability to generate positive free cash flow.
Quick answers to the most common questions about buying GFS stock.
As of 2025, GLOBALFOUNDRIES Inc. (GFS) had total assets of $17.14B including $6.21B in current assets.
GLOBALFOUNDRIES Inc. (GFS) carries total debt of $1.71B, offset by $3.05B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
GLOBALFOUNDRIES Inc. (GFS) has total shareholders' equity (book value) of $11.93B ($21.47 book value per share). Book value represents the net worth of the company belonging to common stock holders.
GLOBALFOUNDRIES Inc. (GFS) reported a current ratio of 2.62x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.