The company achieved a notable deleveraging milestone by reducing its debt-to-equity ratio to 0.00 in 2026Q1, though this coincides with a concerning contraction in total assets to just $16.3M.
| Total Current Assets | 16.33M | 160.64M | 85.57M | 70.01M | 29.08M |
| Cash & Short-Term Investments | 16.33M | 2.2M | 2.2M | 1.5M | 739K |
| Cash Only | 16.33M | 2.2M | 2.2M | 1.5M | 739K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 67.75M | 71.54M | 44.1M | 22.32M |
| Days Sales Outstanding | 32.54 | 69.38 | 100.81 | 99.52 | 56.91 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 0 | -111.6B | 11.82M | 24.41M | 6.02M |
| Total Non-Current Assets | 0 | 1.08B | 829.9M | 618.5M | 237.63M |
| Property, Plant & Equipment | 0 | 0 | 821.44M | 607.38M | 233.75M |
| Fixed Asset Turnover | 0.85x | - | 0.32x | 0.27x | 0.61x |
| Goodwill | 0 | 16.73B | 0 | 0 | 0 |
| Intangible Assets | 0 | 6.01B | 0 | 0 | 0 |
| Long-Term Investments | 3.61M | 2.88M | 0 | 6.17M | 2.41M |
| Other Non-Current Assets | 0 | -21.66B | 8.46M | 4.94M | 1.47M |
| Total Assets | 16.33M | 1.24B | 915.47M | 688.51M | 266.7M |
| Asset Turnover | 0.50x | 0.29x | 0.28x | 0.23x | 0.54x |
| Asset Growth % | 8.29% | 35.54% | 32.96% | 158.15% | - |
| Total Current Liabilities | 0 | 102.57M | 133.35M | 56.56M | 57.36M |
| Accounts Payable | 0 | 38.57M | 51.37M | 37.74M | 41.39M |
| Days Payables Outstanding | 66.68 | 73.66 | 151.1 | 160.58 | 435.02 |
| Short-Term Debt | 0 | 0 | 101K | 124K | 93K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 63.81M | 12.6M | 6K | 5.98M |
| Current Ratio | - | 1.57x | 0.64x | 1.24x | 0.51x |
| Quick Ratio | - | 1.57x | 0.64x | 1.24x | 0.51x |
| Cash Conversion Cycle | -34.14 | - | - | - | - |
| Total Non-Current Liabilities | 0 | 160.36M | 273.88M | 173.49M | 59.84M |
| Long-Term Debt | 0 | 150.86M | 259.41M | 171.12M | 58.05M |
| Capital Lease Obligations | 3.04M | 966K | 1.14M | 652K | 747K |
| Deferred Tax Liabilities | 1.57M | 1.54M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 7M | 13.33M | 1.72M | 1.04M |
| Total Liabilities | 0 | 262.93M | 407.22M | 230.05M | 117.2M |
| Total Debt | 0 | 152.01M | 260.9M | 172M | 58.98M |
| Net Debt | -16.33M | 149.81M | 258.69M | 170.49M | 58.25M |
| Debt / Equity | - | 0.16x | 0.51x | 0.38x | 0.39x |
| Debt / EBITDA | 0.00x | 1.31x | 1.56x | 1.62x | 0.52x |
| Net Debt / EBITDA | -0.05x | 1.30x | 1.54x | 1.60x | 0.51x |
| Interest Coverage | 0.02x | 0.00x | 3.29x | 8.28x | 27.47x |
| Total Equity | 0 | 977.92M | 508.24M | 458.46M | 149.51M |
| Equity Growth % | 92.38% | 92.41% | 10.86% | 206.65% | - |
| Book Value per Share | 0.00 | 61.52 | 38.36 | 7.76 | 2.53 |
| Total Shareholders' Equity | 0 | 307.14M | 508.24M | 458.46M | 149.51M |
| Common Stock | 0 | 607K | 508.24M | 458.46M | 149.51M |
| Retained Earnings | 0 | -4.44M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 670.78M | 0 | 0 | 0 |
Thin liquidity buffer
As reported in recent financial filings, INR's balance sheet has undergone significant shifts, with total assets fluctuating from $688.5M in 2023Q4 to $16.3M in 2026Q1, suggesting a highly unstable capital base that warrants caution regarding the company's long-term financial sustainability and operational consistency.
The dramatic contraction in total assets and the sudden disappearance of liabilities in 2026Q1 suggest either a major restructuring or a significant change in accounting consolidation. Investors should monitor whether this trajectory reflects a strategic pivot or a fundamental erosion of the company's asset-backed value proposition.
Based on the provided quarterly data, INR has successfully reduced its debt-to-equity ratio from 0.51 in 2024Q4 to zero in 2026Q1, indicating a rapid deleveraging process that appears to prioritize balance sheet cleanliness over the maintenance of a larger, debt-funded operational footprint.
While the elimination of debt reduces interest expense risk, the concurrent decline in asset scale suggests that the company may be sacrificing future growth capacity to achieve this debt-free status. This shift implies that management is currently prioritizing solvency over the aggressive expansion seen in previous quarters.
According to historical balance sheet records, INR's liquidity position has remained precarious, with cash balances frequently dipping below $5M, which, when compared to the company's capital-intensive drilling requirements, suggests a persistent vulnerability to commodity price shocks or unexpected operational downtime in the Appalachian Basin.
The lack of a substantial cash cushion limits the company's ability to navigate periods of low commodity pricing without resorting to external financing or asset sales. This liquidity profile appears inconsistent with the high-risk nature of shale exploration and production, necessitating a cautious outlook on short-term operational resilience.
As indicated by the extreme fluctuations in equity and the sudden shift to zero liabilities in 2026Q1, the headline balance sheet figures appear potentially misleading, suggesting that non-recurring accounting adjustments or structural reorganizations may be obscuring the true economic health of the company's underlying assets.
The volatility in equity and the absence of clear PPE or goodwill values in the most recent period suggest that the balance sheet may not currently reflect the true cost or value of the company's acreage. Investors should investigate whether these changes represent a permanent impairment or a temporary accounting anomaly.
Quick answers to the most common questions about buying INR stock.
As of 2025, Infinity Natural Resources, Inc. (INR) had total assets of $1.24B including $160.6M in current assets.
Infinity Natural Resources, Inc. (INR) carries total debt of $152.0M, offset by $2.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Infinity Natural Resources, Inc. (INR) has total shareholders' equity (book value) of $307.1M ($61.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Infinity Natural Resources, Inc. (INR) reported a current ratio of 1.57x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.