The company maintains a conservative capital structure with a debt-to-equity ratio of 0.00, supported by a substantial $34.7M cash position as of 2026Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 | Jun'12 | Jun'11 | Jun'10 | Jun'09 | Jun'08 | Jun'07 | Jun'06 | Jun'05 | Jun'04 | Jun'03 | Jun'02 | Jun'01 | Jun'00 | Jun'99 | Jun'98 | Jun'97 | Jun'96 |
|---|
| Total Current Assets | 38.05M | 39.12M | 40.32M | 40.37M | 38.03M | 26.79M | 10.54M | 13.09M | 17.12M | 17.46M | 18.17M | 21.39M | 26.82M | 24.79M | 28.76M | 37.28M | 33.12M | 29.89M | 41.57M | 36.62M | 26.78M | 9.28M | 6.32M | 4.34M | 4.19M | 4.31M | 4.57M | 3.6M | 4.76M | 3.83M | 30.67M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 1M | 1M | 1M | 1M | 1M | 1M | 1.02M | 2.81M | 1M | 1M | 1M | 184K | 51K | 196K | 162.57K | 0 | 200.13K | 645.77K | 0 | 0 | 0 | 80.99K | 29.28K | 372.08K | 365.42K | 2.24M | 215.08K | 141.55K | 135.29K | 103.24K | 0 |
| Total Non-Current Assets | 10.87M | 8.95M | 11.65M | 15.3M | 20.33M | 35.49M | 8.27M | 10.65M | 11.81M | 8.05M | 8.17M | 9.38M | 11.03M | 13.89M | 13M | 8.69M | 7.87M | 7.26M | 3.92M | 3.17M | 2.27M | 2.82M | 3.22M | 3.1M | 3.72M | 3.6M | 4.54M | 4.73M | 5.55M | 6.89M | 8.64M |
| Property, Plant & Equipment | 1.18M | 1.11M | 1.19M | 1.2M | 1.46M | 1.42M | 1.6M | 1.71M | 1.97M | 2.21M | 2.47M | 2.74M | 3.02M | 3.08M | 3.36M | 3.55M | 3.91M | 3.77M | 2.38M | 2.26M | 2.12M | 1.77M | 1.81M | 1.78M | 1.87M | 2.03M | 2.28M | 2.43M | 2.6M | 2.54M | 2.62M |
| Fixed Asset Turnover | 9.34x | 7.62x | 9.21x | 12.53x | 16.89x | 15.26x | 2.80x | 2.03x | 3.18x | 3.06x | 2.23x | 2.68x | 2.82x | 5.61x | 6.66x | 11.54x | - | - | 23.56x | 25.93x | 21.13x | 9.60x | 7.17x | 4.20x | 4.15x | 4.38x | 4.79x | 3.72x | 3.86x | 5.52x | 7.71x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 41K | 86K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 28.33M | 6.37M | 8.42M | 11.96M | 17.78M | 33.97M | 6.58M | 8.88M | 9.58M | 5.53M | 5.41M | 6.57M | 7.61M | 9.71M | 8.82M | 4.66M | 3.03M | 2.54M | 1.25M | 856.57K | 82.2K | 890.46K | 1.21M | 390.25K | 853.61K | 694.87K | 1.16M | 1.12M | 1.34M | 2.1M | 3.85M |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 48.92M | 48.06M | 51.96M | 55.67M | 58.36M | 62.28M | 18.82M | 23.74M | 28.93M | 25.52M | 26.35M | 30.77M | 37.85M | 38.68M | 41.76M | 45.97M | 40.98M | 37.15M | 45.49M | 39.79M | 29.05M | 12.1M | 9.36M | 7.44M | 7.91M | 7.91M | 9.12M | 8.33M | 10.31M | 10.71M | 39.31M |
| Asset Turnover | 0.22x | 0.18x | 0.21x | 0.27x | 0.42x | 0.35x | 0.24x | 0.15x | 0.22x | 0.27x | 0.21x | 0.24x | 0.23x | 0.45x | 0.54x | 0.89x | - | - | 1.23x | 1.47x | 1.54x | 1.40x | 1.39x | 1.01x | 0.98x | 1.12x | 1.20x | 1.08x | 0.97x | 1.31x | 0.51x |
| Asset Growth % | -17.15% | -7.5% | -6.66% | -4.61% | -6.29% | 230.98% | -20.75% | -17.93% | 13.37% | -3.14% | -14.38% | -18.7% | -2.16% | -7.36% | -9.16% | 12.16% | 10.31% | -18.33% | 14.33% | 37% | 140.01% | 29.35% | 25.77% | -5.89% | -0.09% | -13.23% | 9.49% | -19.21% | -3.77% | -72.75% | -69.31% |
| Total Current Liabilities | 1.82M | 1.87M | 2.16M | 2.94M | 4.13M | 5.15M | 2.01M | 1.43M | 1.77M | 1.17M | 1.3M | 1.63M | 2.14M | 1.83M | 3.05M | 4.91M | 4.79M | 2.53M | 6.26M | 8.7M | 8.5M | 2.2M | 1.05M | 777.46K | 1.26M | 1.06M | 1.44M | 1.16M | 1.04M | 1.39M | 29.35M |
| Accounts Payable | 557K | 449K | 500K | 629K | 870K | 553K | 255K | 247K | 731K | 489K | 516K | 623K | 697K | 539K | 1.17M | 55.18K | 174.69K | 137.43K | 289.36K | 272.56K | 343.36K | 193.25K | 99.53K | 70.44K | 695.69K | 280.59K | 498.63K | 346.5K | 275.96K | 367.16K | 276.12K |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 442K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 70.03K | 65.64K | 69.09K | 68.26K | 68.99K | 63.52K | 44.9K | 1.57M |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 294K | 469K | 609K | 1.17M | 1.86M | 1.56M | 360K | 792K | 645K | 390K | 451K | 590K | 628K | 761K | 1.04M | 77.43K | 0 | 0 | 406.73K | 338.51K | 178.71K | 0 | 0 | 10.46K | 9.76K | 9.1K | 8.49K | 18K | 230.22K | 427.25K | 26.84M |
| Current Ratio | 20.91x | 20.87x | 18.63x | 13.74x | 9.20x | 5.20x | 5.25x | 9.14x | 9.66x | 14.98x | 13.98x | 13.15x | 12.51x | 13.52x | 9.44x | 7.59x | 6.91x | 11.83x | 6.64x | 4.21x | 3.15x | 4.22x | 6.01x | 5.58x | 3.33x | 4.06x | 3.18x | 3.10x | 4.59x | 2.76x | 1.04x |
| Quick Ratio | 20.91x | 20.87x | 18.63x | 13.74x | 9.20x | 5.20x | 5.25x | 9.14x | 9.66x | 14.98x | 13.98x | 13.15x | 12.51x | 13.52x | 9.44x | 7.59x | 6.91x | 11.83x | 6.64x | 4.21x | 3.15x | 4.22x | 6.01x | 5.58x | 3.33x | 4.06x | 3.18x | 3.10x | 4.59x | 2.76x | 1.04x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.05M | 983K | 793K | 713K | 445K | 2.8M | 43K | 133K | 1.1M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 988.54K | 1.07M | 1.14M | 1.2M | 1.26M | 1.33M | 1.36M | 1.41M |
| Long-Term Debt | 75K | 75K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 886.53K | 955.57K | 1.01M | 1.07M | 1.13M | 1.19M | 1.22M | 1.26M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 2.87M | 2.86M | 2.96M | 3.65M | 4.58M | 7.95M | 2.05M | 1.56M | 2.87M | 1.17M | 1.3M | 1.63M | 2.14M | 1.83M | 3.05M | 4.91M | 4.79M | 2.53M | 6.26M | 8.7M | 8.5M | 2.2M | 871.25K | 1.77M | 2.32M | 2.2M | 2.63M | 2.42M | 2.37M | 2.75M | 30.76M |
| Total Debt | 154K | 83K | 39K | 66K | 93K | 43K | 535K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 956.56K | 1.02M | 1.08M | 1.13M | 1.2M | 1.26M | 1.27M | 2.86M |
| Net Debt | -24.42M | -24.47M | -27.36M | -25.34M | -22.22M | -14.39M | -1.4M | -1.47M | -6.36M | -3.96M | -3.99M | -3.51M | -5.91M | -18.09M | -20.61M | -27.21M | -23.84M | -20.3M | -25.14M | -14.85M | -10.06M | -3.81M | -2.83M | -205.68K | 32.27K | 1.08M | -221.94K | 169.81K | -134.74K | 547.78K | 2.19M |
| Debt / Equity | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.00x | 0.03x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 0.17x | 0.18x | 0.19x | 0.18x | 0.20x | 0.16x | 0.16x | 0.33x |
| Debt / EBITDA | -1.39x | - | - | 0.02x | 0.01x | 0.01x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 1.23x | - | 1.74x | 0.54x | 0.32x |
| Net Debt / EBITDA | 220.01x | - | - | -6.72x | -1.96x | -1.69x | - | - | - | - | - | - | - | -215.30x | -6.60x | -2.40x | -2.70x | - | -1.49x | -0.69x | -0.63x | -1.63x | -0.94x | - | - | - | -0.24x | - | -0.19x | 0.23x | 0.24x |
| Interest Coverage | 776.00x | -261.00x | 639.33x | 1021.75x | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 46.05M | 45.21M | 49.01M | 52.02M | 53.78M | 54.32M | 16.76M | 22.18M | 26.06M | 24.35M | 25.05M | 29.14M | 35.7M | 36.85M | 38.71M | 41.06M | 36.19M | 34.63M | 39.23M | 31.1M | 20.54M | 9.9M | 8.49M | 5.67M | 5.58M | 5.72M | 6.48M | 5.91M | 7.94M | 7.97M | 8.54M |
| Equity Growth % | -19.37% | -7.75% | -5.8% | -3.28% | -0.99% | 224.05% | -24.41% | -14.89% | 7% | -2.76% | -14.06% | -18.37% | -3.11% | -4.81% | -5.72% | 13.44% | 4.52% | -11.74% | 26.17% | 51.36% | 107.44% | 16.71% | 49.56% | 1.68% | -2.37% | -11.86% | 9.68% | -25.56% | -0.31% | -6.76% | -1.35% |
| Book Value per Share | 3.88 | 3.39 | 3.46 | 3.55 | 3.58 | 3.61 | 1.11 | 1.47 | 1.72 | 1.60 | 1.64 | 1.89 | 2.31 | 2.38 | 2.51 | 2.67 | 2.36 | 2.27 | 2.57 | 2.04 | 1.36 | 0.65 | 0.59 | 0.38 | 0.35 | 0.40 | 0.44 | 0.44 | 0.60 | 0.60 | 0.65 |
| Total Shareholders' Equity | 46.05M | 45.21M | 49.01M | 52.02M | 53.78M | 54.32M | 16.76M | 21.71M | 25.54M | 23.87M | 24.53M | 28.57M | 35.07M | 36.85M | 38.71M | 41.06M | 36.19M | 34.63M | 39.23M | 31.1M | 20.54M | 9.9M | 8.49M | 5.67M | 5.58M | 5.72M | 6.48M | 5.91M | 7.94M | 7.97M | 8.54M |
| Common Stock | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 399K | 398.39K | 398.39K | 398.39K | 397.79K | 397.79K | 397.79K | 394.99K | 390.66K | 390.44K | 390.41K | 390.41K | 389.81K | 389.81K | 339.81K | 339.81K | 339.46K | 339.19K |
| Retained Earnings | 38.42M | 35.94M | 37.46M | 37.57M | 35.92M | 33.83M | 2.63M | 7.76M | 9.51M | 9.32M | 10.29M | 14.42M | 19.38M | 21.27M | 23.4M | 25.58M | 21.44M | 20.7M | 26.61M | 18.99M | 9.2M | -1.24M | -2.68M | -4.85M | -4.89M | -4.62M | -3.79M | -4.29M | -2.44M | -2.29M | -2.57M |
| Treasury Stock | -9.34M | -7.78M | -5.88M | -3.74M | -2.6M | -2.17M | -1.88M | -1.89M | -1.88M | -1.76M | -1.66M | -1.46M | -1.28M | -1.13M | -1.11M | -1.23M | -1.34M | -1.45M | -1.56M | -1.64M | -830.33K | -650.59K | -665.9K | -663.54K | -639.41K | -632.26K | -637.3K | -648.83K | -476.29K | -514.77K | -530.38K |
| Accumulated OCI | 0 | 98K | 584K | 1.35M | 3.62M | 6.59M | -4K | -206K | 1.86M | 264K | -149K | -483K | 906K | 652K | 466.27K | 1.04M | 555.35K | 352.33K | -325.4K | -5.59K | 24.26K | 390.33K | 533.07K | -10.88K | -40.65K | -102.36K | -51.77K | -74.94K | -24.51K | -157.19K | 721.76K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 467K | 518K | 484K | 518K | 574K | 633K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Operational cash flow volatility
According to reported financial statements, GROW's total assets have declined from $53.6M in 2024Q2 to $48.9M in 2026Q3, signaling a persistent contraction in the firm's resource base that reflects the broader challenges of maintaining AUM in a highly competitive and volatile thematic asset management landscape.
The steady decline in total assets suggests that the firm is struggling to replace outflows with new capital, which may limit its ability to fund future product innovation. Investors should monitor whether this downward trend in asset scale eventually forces a more aggressive restructuring of the firm's fixed-cost base.
Based on recent SEC filings, GROW maintains a substantial cash position of $34.7M as of 2026Q3, which provides a significant liquidity buffer but also highlights the firm's reliance on non-operating investment income to offset the ongoing cash burn from its core asset management operations.
While the current ratio of 20.91 indicates an exceptionally strong short-term liquidity position, this metric is somewhat misleading as it reflects a lack of active capital deployment rather than operational efficiency. The firm appears to be functioning more like an investment holding company than a growing asset manager, which warrants caution regarding the sustainability of its current business model.
As reported in financial statements, total equity has decreased from $50.9M in 2024Q2 to $46.0M in 2026Q3, a trend driven by the erosion of retained earnings as the firm continues to absorb operating losses while simultaneously returning capital to shareholders through dividends and buybacks.
The reduction in retained earnings suggests that the firm is effectively liquidating its own capital base to sustain operations and shareholder distributions. This practice appears unsustainable in the long term and may indicate that management is prioritizing short-term capital returns over the necessary reinvestment required to stabilize the business.
Based on the provided balance sheet data, the firm's asset mix is heavily skewed toward cash and equivalents, with minimal investment in tangible property or equipment, which suggests that the company's value is almost entirely dependent on its intangible brand and regulatory licenses.
The absence of significant goodwill or PPE indicates that the firm's valuation is highly sensitive to the market's perception of its niche ETF brand. If the firm's thematic products lose their competitive edge, there are few tangible assets to provide a floor for the company's valuation, making the business model appear more vulnerable than the headline cash balance might suggest.
Quick answers to the most common questions about buying GROW stock.
As of 2025, U.S. Global Investors, Inc. (GROW) had total assets of $48.1M including $39.1M in current assets.
U.S. Global Investors, Inc. (GROW) carries total debt of $0.1M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
U.S. Global Investors, Inc. (GROW) has total shareholders' equity (book value) of $45.2M ($3.39 book value per share). Book value represents the net worth of the company belonging to common stock holders.
U.S. Global Investors, Inc. (GROW) reported a current ratio of 20.87x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.