The balance sheet shows a low leverage profile with a debt-to-equity ratio of 0.03, but the asset base is eroding, with total assets declining 11% from a peak of $850.8M to $751.4M as cash reserves are consumed.
Kornit Digital Ltd. (KRNT) balance sheet — 14-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 571.9M | 595.52M | 615.39M | 522.39M | 578.84M | 775.34M | 477.53M | 253.28M | 140.76M | 89.43M | 98.78M | 87.04M | 28.52M | 27.28M | 20.92M |
| Cash & Short-Term Investments | 429.73M | 457.85M | 463.87M | 332.5M | 400.01M | 648.84M | 364.3M | 168.31M | 83.11M | 28.67M | 39.29M | 44.99M | 4.99M | 7.96M | 6.72M |
| Cash Only | 33.81M | 35.48M | 35M | 39.6M | 104.6M | 611.55M | 125.78M | 40.74M | 74.13M | 18.63M | 22.79M | 18.46M | 4.99M | 5.33M | 4.66M |
| Short-Term Investments | 395.93M | 422.37M | 428.87M | 292.89M | 295.41M | 37.28M | 238.52M | 127.57M | 8.98M | 10.04M | 16.5M | 26.53M | 0 | 2.63M | 2.06M |
| Accounts Receivable | 52.32M | 60.8M | 65.46M | 93.63M | 67.36M | 49.8M | 51.57M | 40.51M | 21.95M | 23.25M | 31.64M | 22.6M | 10.83M | 6.83M | 5.22M |
| Days Sales Outstanding | 95.86 | 106.58 | 117.22 | 155.5 | 90.55 | 56.45 | 97.35 | 82.21 | 56.28 | 74.37 | 106.24 | 95.46 | 59.55 | 50.51 | 48.65 |
| Inventory | 54.16M | 47.21M | 60.34M | 67.71M | 89.42M | 63.02M | 52.49M | 37.48M | 30.03M | 34.85M | 24.12M | 15.8M | 11.99M | 11.97M | 8.64M |
| Days Inventory Outstanding | 154.48 | 148.64 | 196.54 | 161.72 | 186.47 | 135.23 | 181.54 | 139.88 | 151.18 | 212.12 | 148.51 | 125.89 | 117.65 | 156.26 | 138.63 |
| Other Current Assets | 35.69M | 29.66M | 25.71M | 595K | 22.05M | 13.69M | 9.18M | 6.99M | 5.66M | 2.66M | 3.73M | 3.31M | 323K | 135K | 34K |
| Total Non-Current Assets | 179.45M | 174.99M | 172.09M | 343.19M | 378.83M | 265.53M | 151.46M | 152.18M | 74.07M | 88.95M | 41.26M | 36.39M | 6.19M | 4.34M | 2.38M |
| Property, Plant & Equipment | 88.33M | 86.67M | 78.28M | 74.69M | 87.6M | 70.2M | 50.31M | 40.3M | 14.99M | 11.23M | 9.25M | 4.78M | 3.66M | 2.65M | 2.24M |
| Fixed Asset Turnover | 2.51x | 2.40x | 2.60x | 2.94x | 3.10x | 4.59x | 3.84x | 4.46x | 9.50x | 10.16x | 11.75x | 18.08x | 18.13x | 18.62x | 17.52x |
| Goodwill | 32.83M | 29.16M | 29.16M | 29.16M | 29.16M | 25.45M | 16.47M | 5.56M | 5.09M | 5.09M | 5.09M | 0 | 0 | 0 | 0 |
| Intangible Assets | 18.4M | 9.43M | 5.72M | 7.65M | 9.89M | 10.06M | 7.22M | 2.49M | 1.01M | 2.08M | 3.38M | 1.02M | 245K | 371K | 141K |
| Long-Term Investments | 124.55M | 33.33M | 48.09M | 223.2M | 245.97M | 149.27M | 71.64M | 95.39M | 44.6M | 68.83M | 21.72M | 29.15M | 0 | 0 | 0 |
| Other Non-Current Assets | 18.75M | 16.4M | 10.85M | 8.49M | 6.2M | 1.21M | 732K | 657K | 1.09M | 1.15M | 1.05M | 309K | 2.29M | 1.32M | -2.38M |
| Total Assets | 751.35M | 770.51M | 787.48M | 865.58M | 957.67M | 1.04B | 628.99M | 405.47M | 214.82M | 178.37M | 140.05M | 123.43M | 34.71M | 31.63M | 24.41M |
| Asset Turnover | 0.28x | 0.27x | 0.26x | 0.25x | 0.28x | 0.31x | 0.31x | 0.44x | 0.66x | 0.64x | 0.78x | 0.70x | 1.91x | 1.56x | 1.60x |
| Asset Growth % | -19.38% | -2.16% | -9.02% | -9.62% | -7.99% | 65.48% | 55.13% | 88.74% | 20.43% | 27.37% | 13.47% | 255.55% | 9.76% | 29.58% | - |
| Total Current Liabilities | 64.95M | 41.99M | 44.33M | 50.1M | 65.37M | 96.68M | 89.63M | 45.58M | 33.17M | 25.52M | 30.13M | 21.25M | 13.34M | 14.4M | 8.72M |
| Accounts Payable | 18.05M | 6.06M | 9.02M | 6.94M | 14.83M | 46.45M | 32.02M | 23.45M | 16.61M | 12.44M | 16.43M | 13.23M | 5.9M | 7.22M | 4.38M |
| Days Payables Outstanding | 29.14 | 19.08 | 29.38 | 16.57 | 30.93 | 99.67 | 110.73 | 87.52 | 83.64 | 75.7 | 101.17 | 105.39 | 57.92 | 94.34 | 70.28 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 4.79M | 1.53M | 2.34M | 2.16M | 5.7M | 5.4M | 27.02M | 2.69M | 3.63M | 1.7M | 1.68M | 1.01M | 1.86M | 2.06M | 0 |
| Other Current Liabilities | 26.83M | 18.11M | 16.56M | 18.2M | 25.59M | 31.52M | 19.1M | 11.88M | 10.66M | 5.05M | 6.1M | 5.67M | 2.61M | 2.98M | 4.34M |
| Current Ratio | 8.81x | 14.18x | 13.88x | 10.43x | 8.85x | 8.02x | 5.33x | 5.56x | 4.24x | 3.50x | 3.28x | 4.10x | 2.14x | 1.89x | 2.40x |
| Quick Ratio | 7.97x | 13.06x | 12.52x | 9.07x | 7.49x | 7.37x | 4.74x | 4.73x | 3.34x | 2.14x | 2.48x | 3.35x | 1.24x | 1.06x | 1.41x |
| Cash Conversion Cycle | 221.2 | 236.14 | 284.38 | 300.65 | 246.09 | 92 | 168.16 | 134.57 | 123.82 | 210.78 | 153.58 | 115.96 | 119.28 | 112.43 | 117 |
| Total Non-Current Liabilities | 20.63M | 15.94M | 16.25M | 19.81M | 23.47M | 24.65M | 20.34M | 21.59M | 2.52M | 2.15M | 2.73M | 1.91M | 2.02M | 1.62M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 57.97M | 14.73M | 15.06M | 18.53M | 21.04M | 21.9M | 18.69M | 19.23M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 74K | 122K | 66K | 0 |
| Other Non-Current Liabilities | 6.57M | 1.22M | 1.19M | 1.28M | 2.44M | 2.75M | 1.66M | 2.35M | 2.52M | 2.15M | 2.73M | 1.84M | 1.78M | 1.55M | 0 |
| Total Liabilities | 85.58M | 57.94M | 60.59M | 69.91M | 88.84M | 121.32M | 109.97M | 67.16M | 35.69M | 27.68M | 32.86M | 23.16M | 15.36M | 16.02M | 8.72M |
| Total Debt | 18.31M | 18.61M | 18.38M | 23.61M | 26.02M | 26.96M | 22.64M | 23.13M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -15.5M | -16.86M | -16.63M | -16M | -78.57M | -584.59M | -103.13M | -17.61M | -74.13M | -18.63M | -22.79M | -18.46M | -4.99M | -5.33M | -4.66M |
| Debt / Equity | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.03x | 0.04x | 0.07x | - | - | - | - | - | - | - |
| Debt / EBITDA | -0.67x | - | - | - | - | 1.36x | - | 1.92x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.57x | - | - | - | - | -29.39x | - | -1.46x | -7.01x | -6.82x | -5.18x | -2.45x | -0.97x | -1.28x | -1.01x |
| Interest Coverage | - | - | -59.59x | -267.56x | -212.21x | 54.82x | -18.85x | 18.76x | 19.82x | -6.48x | 6.33x | 36.05x | 23.92x | 25.53x | 20.25x |
| Total Equity | 665.78M | 712.57M | 726.9M | 795.67M | 868.82M | 919.55M | 519.02M | 338.3M | 179.14M | 150.7M | 107.19M | 100.26M | 19.35M | 15.61M | 14.31M |
| Equity Growth % | -24.47% | -1.97% | -8.64% | -8.42% | -5.52% | 77.17% | 53.42% | 88.85% | 18.87% | 40.59% | 6.91% | 418.12% | 23.98% | 9.06% | - |
| Book Value per Share | 15.53 | 15.75 | 15.31 | 16.19 | 17.45 | 18.92 | 12.27 | 8.61 | 5.07 | 4.49 | 3.38 | 3.79 | 0.67 | 0.68 | 0.62 |
| Total Shareholders' Equity | 665.78M | 712.57M | 726.9M | 795.67M | 868.82M | 919.55M | 519.02M | 338.3M | 179.14M | 150.7M | 107.19M | 100.26M | 19.35M | 15.61M | 14.31M |
| Common Stock | 665.78M | 712.57M | 134K | 134K | 134K | 133K | 121K | 105K | 89K | 86K | 78K | 76K | 54K | 22K | 3K |
| Retained Earnings | 0 | 0 | -116.73M | -99.93M | -35.58M | 43.48M | 27.95M | 32.74M | 22.57M | 10.14M | 12.23M | 11.4M | 6.67M | 3.65M | 2.52M |
| Treasury Stock | 0 | 0 | -121.69M | -55.77M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | -868K | -7.21M | -17.42M | 571K | 2.73M | 843K | -238K | 301K | -82K | -283K | -146K | 37K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying KRNT stock.
As of 2025, Kornit Digital Ltd. (KRNT) had total assets of $770.5M including $595.5M in current assets.
Kornit Digital Ltd. (KRNT) carries total debt of $18.6M, offset by $457.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Kornit Digital Ltd. (KRNT) has total shareholders' equity (book value) of $712.6M ($15.75 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Kornit Digital Ltd. (KRNT) reported a current ratio of 14.18x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Cash runway and margin expansion uncertainty
Asset Base Eroding Amidst Cash Burn
Total assets have declined by approximately 11% from a peak of $850.8M in Q3 2024 to $751.4M in Q2 2026, driven primarily by a significant reduction in cash reserves and a modest increase in liabilities, suggesting the balance sheet is being consumed to fund ongoing operations.
The erosion in total assets is not driven by operational growth but by the drawdown of cash to cover persistent operating losses, as evidenced by the cash position falling from $113.9M to $33.8M over the same period. This trajectory indicates the company is in a phase of capital consumption rather than accumulation, which may signal a weakening financial foundation if the path to profitability remains elongated.
Liquidity Buffer Narrowing Rapidly
The current ratio has compressed from a robust 16.50 in Q3 2024 to 8.81 in Q2 2026, while the cash position has dwindled to $33.8M, indicating a significant reduction in the company's immediate financial buffer against operational shocks.
While a current ratio of 8.81 remains technically strong, the rapid deterioration from a much higher level suggests the company is burning through its liquid assets at an unsustainable pace. The cash position of $33.8M, when viewed against the quarterly operating losses implied by the negative net margin, warrants close monitoring for potential future financing needs or operational cuts.
Equity Value Eroding from Operational Losses
Total equity has decreased by over $120 million from its peak of $793.5M in Q3 2024 to $665.8M in Q2 2026, a decline driven by accumulated retained losses that are not offset by other comprehensive income, signaling a direct hit to shareholder value from unprofitable operations.
The consistent negative retained earnings balance, which stands at $0 in the data, confirms that the company has never generated cumulative profits, and the recent equity decline reflects the ongoing cash burn. This trend suggests that without a material improvement in profitability, the equity base will continue to shrink, potentially increasing the risk of future dilutive capital raises.
Cash Position Masks Operational Fragility
The reported cash position of $33.8M appears adequate in isolation, but when analyzed alongside the negative operating margins and the recent trend of asset drawdown, it suggests the company's liquidity is a function of past capital raises rather than current cash generation, creating a potential vulnerability.
The balance sheet's headline strength, indicated by a low debt-to-equity ratio of 0.03, is misleading because it does not reflect the underlying cash burn rate. The company's ability to fund its operations is entirely dependent on its remaining cash reserves, which have been declining, and the absence of positive free cash flow generation. This dynamic means the balance sheet's apparent health is a lagging indicator, not a forward-looking guarantee of operational stability.