The firm maintains an equity-heavy capital structure with a debt-to-equity ratio of 0.01 in 2026Q1, reflecting a reliance on shareholder capital rather than debt to fund its development.
| Total Assets | 295.17M | 302.98M | 5.33M | 7.89M |
| Asset Growth % | 2055.76% | 5582.73% | -32.42% | - |
| PP&E (Net) | 2.75M | 2.65M | 1.39M | 2.13M |
| PP&E / Total Assets % | 0.93% | 0.87% | 26.13% | 26.99% |
| Total Current Assets | 276.74M | 299.56M | 3.29M | 5.06M |
| Cash & Equivalents | 76.95M | 97.16M | 3.02M | 4.6M |
| Receivables | 0 | 92.55K | 254.63K | 385.28K |
| Inventory | 0 | 0 | 0 | 0 |
| Other Current Assets | 1.78M | 0 | 0 | 0 |
| Long-Term Investments | 497.68M | 0 | 0 | 0 |
| Goodwill | 699K | 0 | 0 | 0 |
| Intangible Assets | 0 | 707.75K | 616.97K | 666.11K |
| Other Assets | 78K | 63.61K | 29.75K | 28.92K |
| Total Liabilities | 6.57M | 7.57M | 18.82M | 12.77M |
| Total Debt | 2.08M | 2.07M | 16.98M | 10.97M |
| Net Debt | -74.87M | -95.09M | 13.96M | 6.37M |
| Long-Term Debt | 0 | 0 | 16.08M | 9.95M |
| Short-Term Borrowings | 553K | 0 | 0 | 0 |
| Capital Lease Obligations | 4.44M | 2.07M | 902.84K | 1.02M |
| Total Current Liabilities | 5.05M | 5.92M | 1.1M | 1.81M |
| Accounts Payable | 4.5M | 4.48M | 366.32K | 1.25M |
| Accrued Expenses | 1.02M | 1.02M | 382.55K | 415.24K |
| Deferred Revenue | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 100K | 0 |
| Deferred Taxes | 665.95K | 0 | 665.95K | 0 |
| Other Liabilities | 0 | 0 | 323.67K | 133.25K |
| Total Equity | 288.6M | 295.41M | -13.49M | -4.88M |
| Equity Growth % | 1776.01% | 2289.73% | -176.69% | - |
| Shareholders Equity | 288.6M | 295.41M | -13.49M | -5.41M |
| Minority Interest | 0 | 0 | 0 | 534.61K |
| Common Stock | 10K | 10.58K | 738 | 675 |
| Additional Paid-in Capital | 421.73M | 418.81M | 82.78M | 79.77M |
| Retained Earnings | -135.13M | -124.62M | -96.61M | -85.12M |
| Accumulated OCI | 1.98M | 1.21M | 337.19K | -58.34K |
| Return on Assets (ROA) | -21.02% | -18.17% | -173.75% | -176.29% |
| Return on Equity (ROE) | -23.36% | -19.88% | - | - |
| Debt / Equity | 0.01x | 0.01x | - | - |
| Debt / Assets | 0.7% | 0.68% | 318.55% | 139.05% |
| Net Debt / EBITDA | 1.96x | - | - | - |
| Book Value per Share | 2.73 | 4.12 | -0.15 | -0.05 |
Regulatory and liquidity burn
As reported in recent financial statements, Terrestrial Energy Inc. maintains an equity-dominant capital structure with a debt-to-equity ratio of 0.01 in 2026Q1, reflecting a reliance on shareholder capital rather than debt financing to fund the intensive regulatory and engineering requirements of its molten salt reactor development.
The minimal debt load suggests that the company has avoided traditional leverage, which is prudent given the absence of operational cash flow to service interest payments. However, the reliance on equity suggests that future capital needs will likely result in significant dilution for existing shareholders as the firm approaches commercialization.
Based on the company's reported figures, the cash balance of $275.0 million in 2026Q1 provides a temporary liquidity cushion, yet the rapid decline from $297.8 million in 2025Q4 indicates that the firm's current burn rate may necessitate further capital raises before reaching the commercial deployment phase.
While the current ratio of 54.82 appears exceptionally high, it is a function of the company's pre-revenue status and lack of significant short-term liabilities rather than operational efficiency. Investors should monitor the rate of cash consumption against the multi-year timeline required for nuclear regulatory certification.
According to recent SEC filings, the company's net PPE of $2.8 million in 2026Q1 remains negligible, confirming that Terrestrial Energy Inc. has not yet transitioned into the capital-intensive construction phase required for its proprietary integral molten salt reactor infrastructure and commercial-scale manufacturing facilities.
The lack of significant fixed assets suggests that the company is currently in the intellectual property and licensing phase of its lifecycle. The transition to a utility-scale asset base will likely require a massive, non-linear increase in capital expenditure that is not yet reflected on the balance sheet.
As indicated by the company's financial statements, the balance sheet fails to account for the future financial burden of managing radioactive core replacements, which may require substantial long-term capital reserves that are not currently visible in the firm's reported asset or liability metrics.
The replaceable core model creates a unique logistical liability that could necessitate significant future capital allocation for waste management and specialized transport. This potential long-term obligation warrants further investigation, as it may impact the company's future ability to maintain a healthy balance sheet once commercial operations commence.
Quick answers to the most common questions about buying IMSR stock.
As of 2025, Terrestrial Energy Inc. (IMSR) had total assets of $303.0M including $299.6M in current assets.
Terrestrial Energy Inc. (IMSR) carries total debt of $2.1M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Terrestrial Energy Inc. (IMSR) has total shareholders' equity (book value) of $295.4M ($4.12 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Terrestrial Energy Inc. (IMSR) reported a current ratio of 50.62x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.