A strategic pivot has reduced total debt to just $68.2M against $6.6B in cash, resulting in a minimal D/E ratio of 0.01 and a robust current ratio of 5.13, which appears to prioritize capital return over operational investment.
Hello Group Inc. (MOMO) 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 | 9.4B | 9.74B | 12.01B | 7.83B | 11.72B | 9.41B | 11.75B | 15.79B | 12.63B | 7.76B | 5B | 3.27B | 2.89B | 355.8M | 19.83M |
| Cash & Short-Term Investments | 8.52B | 8.68B | 6.15B | 6.89B | 10.62B | 8.43B | 10.93B | 14.93B | 11.29B | 6.93B | 4.52B | 3.05B | 2.8B | 335.58M | 18.54M |
| Cash Only | 6.58B | 5.44B | 4.12B | 5.62B | 5.02B | 5.57B | 3.36B | 2.61B | 2.47B | 4.48B | 1.79B | 1.1B | 2.8B | 335.58M | 18.54M |
| Short-Term Investments | 1.93B | 3.24B | 2.03B | 1.27B | 5.6B | 2.86B | 7.57B | 12.31B | 8.82B | 2.45B | 2.73B | 1.95B | 0 | 0 | 0 |
| Accounts Receivable | 238.63M | 621.78M | 192.32M | 201.52M | 188.71M | 205.22M | 200.83M | 269.54M | 719.61M | 291.09M | 251.13M | 104.33M | 43.66M | 11.71M | 951.02K |
| Days Sales Outstanding | 13.93 | 21.89 | 6.65 | 6.13 | 5.42 | 5.14 | 4.88 | 5.78 | 19.59 | 11.96 | 24.72 | 43.78 | 57.4 | 225.49 | - |
| Inventory | 0 | 0 | 0 | 0 | 97.71M | 0 | 2.13M | 0 | 0 | 0 | 499.95K | 0 | 0 | 5.31M | 25K |
| Days Inventory Outstanding | - | - | - | - | 4.81 | - | 0.1 | - | - | - | 0.11 | - | - | 109.36 | 9.93 |
| Other Current Assets | 648.48M | 69.13M | 4.57B | 723.76M | 468.9M | 421.84M | 247.84M | 599M | 620.98M | 538.18M | 55.1M | 319.47M | 46.87M | 2.22M | 258.01K |
| Total Non-Current Assets | 3.94B | 4.05B | 6.37B | 8.39B | 4.11B | 8.7B | 11.47B | 6.69B | 6.33B | 739.73M | 344.31M | 248.77M | 77.47M | 26.14M | 959.02K |
| Property, Plant & Equipment | 1.45B | 1.54B | 1.15B | 768.61M | 288.5M | 438.6M | 543.94M | 536.9M | 387.53M | 259.59M | 96.74M | 105.1M | 61.63M | 20.38M | 959.02K |
| Fixed Asset Turnover | 7.17x | 6.73x | 9.19x | 15.62x | 44.03x | 33.23x | 27.62x | 31.69x | 34.60x | 34.23x | 38.32x | 8.28x | 4.50x | 0.93x | - |
| Goodwill | 564.68M | 596.68M | 136.25M | 0 | 0 | 0 | 4.09B | 4.36B | 4.31B | 22.2M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 210.44M | 240.87M | 86.66M | 17.09M | 22.2M | 27.32M | 687.21M | 890.3M | 1.04B | 48.72M | 251.13M | 447.94K | 0 | 0 | 0 |
| Long-Term Investments | 6.24B | 1.52B | 3.89B | 4.71B | 893.99M | 820.01M | 455M | 495.9M | 447.46M | 289.46M | 221.73M | 125.41M | 10.92M | 5.76M | 0 |
| Other Non-Current Assets | 51.64M | 118.04M | 1.11B | 2.87B | 2.87B | 7.38B | 5.67B | 369.04M | 95.71M | 72.77M | 18.01M | 12.98M | 4.92M | 0 | 0 |
| Total Assets | 13.34B | 13.79B | 18.38B | 16.23B | 15.83B | 18.11B | 23.22B | 22.48B | 18.97B | 8.52B | 5.34B | 3.52B | 2.97B | 381.95M | 20.78M |
| Asset Turnover | 0.74x | 0.75x | 0.57x | 0.74x | 0.80x | 0.80x | 0.65x | 0.76x | 0.71x | 1.04x | 0.69x | 0.25x | 0.09x | 0.05x | - |
| Asset Growth % | -86.8% | -25% | 13.28% | 2.52% | -12.6% | -22% | 3.28% | 18.55% | 122.63% | 59.38% | 51.86% | 18.58% | 677.13% | 1737.65% | - |
| Total Current Liabilities | 1.83B | 2.08B | 6.4B | 2.09B | 4.74B | 2.52B | 2.52B | 2.61B | 2.7B | 1.7B | 928.37M | 467.05M | 236.42M | 33.73M | 143K |
| Accounts Payable | 574.95M | 584.93M | 615.25M | 616.68M | 617.02M | 726.21M | 699.39M | 714.32M | 718.36M | 484.94M | 280.93M | 67.81M | 36.6M | 2.08M | 0 |
| Days Payables Outstanding | 32.83 | 33.12 | 34.83 | 32.04 | 30.35 | 31.62 | 32 | 30.7 | 36.5 | 40.47 | 63.32 | 125.77 | 136.63 | 42.9 | - |
| Short-Term Debt | 1.7M | 2.12M | 4.32B | 215.62M | 2.65B | 25.57M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 2.01B | 610.48M | 571.17M | 581.73M | 621.53M | 539.97M | 511.62M | 503.46M | 441.89M | 423.48M | 286.62M | 183.55M | 101.41M | 24.51M | 0 |
| Other Current Liabilities | 734.36M | 400.58M | 612.79M | 374.55M | 289.65M | 449.91M | 501.14M | 429.57M | 1.23B | 765.54M | -93.25M | -93.33M | 1.33M | 581.78K | 88K |
| Current Ratio | 5.13x | 4.68x | 1.88x | 3.74x | 2.47x | 3.74x | 4.67x | 6.06x | 4.69x | 4.57x | 5.39x | 7.00x | 12.23x | 10.55x | 138.64x |
| Quick Ratio | 5.13x | 4.68x | 1.88x | 3.74x | 2.45x | 3.74x | 4.67x | 6.06x | 4.69x | 4.57x | 5.39x | 7.00x | 12.23x | 10.39x | 138.46x |
| Cash Conversion Cycle | -18.9 | - | - | - | -20.12 | - | -27.03 | - | - | - | -38.48 | - | - | 291.95 | - |
| Total Non-Current Liabilities | 636.31M | 615.11M | 551.76M | 2.15B | 160.7M | 5.01B | 5.87B | 6.16B | 5.25B | 27.23M | 14.04M | 11.85M | 0 | 0 | 27.2M |
| Long-Term Debt | 1.82M | 3.13M | 0 | 1.96B | 0 | 4.57B | 4.66B | 4.95B | 4.88B | 0 | 0 | 0 | 0 | 0 | 27.2M |
| Capital Lease Obligations | 152.51M | 40.01M | 115.11M | 52.17M | 33.28M | 103.11M | 136.44M | 56.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 2.16B | 532.33M | 241.91M | 24.99M | 22.01M | 213.38M | 171.8M | 222.58M | 259.25M | 12.18M | 208K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 44.48M | 39.63M | 194.75M | 114.08M | 105.41M | 128.09M | 901.28M | 0 | 110.04M | 27.23M | 13.83M | 11.85M | 0 | 0 | 0 |
| Total Liabilities | 2.47B | 2.7B | 6.95B | 4.24B | 4.9B | 7.53B | 8.39B | 8.76B | 7.94B | 1.72B | 942.41M | 478.91M | 236.42M | 33.73M | 27.34M |
| Total Debt | 68.19M | 128.91M | 4.58B | 2.29B | 2.77B | 4.83B | 4.93B | 5.15B | 4.88B | 0 | 0 | 0 | 0 | 0 | 27.2M |
| Net Debt | -6.51B | -5.32B | 458.53M | -3.33B | -2.25B | -739.22M | 1.56B | 2.53B | 2.41B | -4.48B | -1.79B | -1.1B | -2.8B | -335.58M | 8.66M |
| Debt / Equity | 0.01x | 0.01x | 0.40x | 0.19x | 0.25x | 0.46x | 0.33x | 0.37x | 0.44x | - | - | - | - | - | - |
| Debt / EBITDA | 0.05x | 0.09x | 2.88x | 0.96x | 1.59x | 2.13x | 1.70x | 1.32x | 1.39x | - | - | - | - | - | - |
| Net Debt / EBITDA | -5.08x | -3.70x | 0.29x | -1.40x | -1.29x | -0.33x | 0.54x | 0.65x | 0.69x | -1.78x | -1.73x | -13.82x | - | - | - |
| Interest Coverage | 75.62x | 24.62x | 15.28x | 43.63x | 25.32x | -27.40x | 37.75x | 50.20x | 61.87x | - | - | - | - | - | -1283.16x |
| Total Equity | 10.88B | 11.09B | 11.43B | 11.99B | 10.93B | 10.59B | 14.84B | 13.91B | 11.12B | 6.79B | 4.4B | 3.04B | 2.73B | 348.22M | -6.56M |
| Equity Growth % | -5.68% | -2.98% | -4.62% | 9.66% | 3.26% | -28.65% | 6.67% | 25.12% | 63.6% | 54.32% | 44.79% | 11.31% | 684.51% | 5409.64% | - |
| Book Value per Share | 69.48 | 65.52 | 61.20 | 59.66 | 54.02 | 52.31 | 65.63 | 61.65 | 51.33 | 32.72 | 21.63 | 15.15 | 14.10 | 1.87 | -0.23 |
| Total Shareholders' Equity | 10.88B | 10.88B | 11.43B | 11.8B | 10.78B | 10.45B | 14.64B | 13.72B | 11.02B | 6.78B | 4.4B | 3.04B | 2.73B | 348.22M | -6.56M |
| Common Stock | 0 | 199K | 210K | 286K | 281K | 277K | 274K | 272K | 270K | 280.73K | 291.64K | 266.16K | 248.12K | 90.9K | 15K |
| Retained Earnings | 0 | 7.1B | 6.64B | 6.32B | 5.32B | 4.68B | 8.44B | 7.46B | 5.36B | 2.41B | 355.11M | -610.94M | -668.73M | -149.86M | -7.28M |
| Treasury Stock | 0 | -561.49M | -325.23M | -2.2B | -1.99B | -1.6B | -732.47M | -402.27M | -402.27M | -402.27M | -447.83M | -418.73M | -400.06M | 0 | 0 |
| Accumulated OCI | 0 | -234.54M | 1.05M | -126.08M | -140.25M | 149.37M | 183.92M | 302.69M | 313.56M | 104.16M | -112.27M | -29.38M | -6.37M | 957.52K | -38K |
| Minority Interest | 0 | 206.34M | 187.27M | 181.84M | 153.33M | 138.96M | 196.35M | 188.72M | 92.3M | 18.6M | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying MOMO stock.
As of 2025, Hello Group Inc. (MOMO) had total assets of $13.79B including $9.74B in current assets.
Hello Group Inc. (MOMO) carries total debt of $128.9M, offset by $8.68B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Hello Group Inc. (MOMO) has total shareholders' equity (book value) of $10.88B ($65.52 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Hello Group Inc. (MOMO) reported a current ratio of 4.68x. 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
Structural revenue decline eroding cash generation
Deleveraging Drives Balance Sheet Fortification
Hello Group's balance sheet has undergone a dramatic structural shift, with total debt collapsing from $4.6B in 2024Q4 to just $68.2M in 2026Q2, as per the reported financial data, signaling a strategic pivot towards a fortress-like capital structure.
The deleveraging has been the primary driver of strengthening equity value, with the D/E ratio plunging from 0.42 to a near-negligible 0.01. This transformation appears to be a deliberate strategic choice to build a substantial financial buffer, likely in response to the persistent top-line contraction observed in the income statement.
Minimal Debt Elevates Financial Flexibility
With total debt of $68.2M against $6.6B in cash as of 2026Q2, Hello Group's net cash position is substantial, according to the balance sheet, rendering traditional leverage metrics largely irrelevant for assessing near-term solvency risk.
The near-total elimination of debt fundamentally alters the company's risk profile, transforming it from a leveraged entity to one with a fortress balance sheet. This minimal debt load suggests that refinancing risk is non-existent, and the company's financial flexibility is now driven almost entirely by its cash holdings and operating cash generation.
Substantial Cash Buffer Amidst Volatile Operations
The company's current ratio stands at a robust 5.13 in 2026Q2, underpinned by $6.6B in cash, which provides a formidable liquidity cushion against operational volatility, as reported in the latest filings.
This liquidity strength is a direct result of the deleveraging and cash accumulation strategy, providing a multi-year runway even amidst negative revenue growth. However, the extreme volatility in cash levels from quarter to quarter, including the jump from $4.2B to $6.6B in a single period, suggests that working capital swings remain a significant driver of short-term liquidity, a dynamic also noted in the cash flow analysis.
The Paradox of Asset Quality and Cash Hoarding
Despite holding $6.6B in cash, Hello Group's asset base includes $564.7M in goodwill and $1.5B in PPE, which, combined with the zero retained earnings figure, suggests a complex history of M&A and capital allocation that may not fully reflect in current profitability.
The significant goodwill balance, which has risen markedly from $14.5M in 2024Q2, raises questions about past acquisition strategies and the potential for future impairment charges, especially if the core business continues to contract. Furthermore, the persistent $0 figure for retained earnings across most periods is a distortion that requires clarification, as it complicates the assessment of true equity quality and historical profitability retention.