The company maintains a healthy liquidity position with $674.8 million in cash, though this is offset by a substantial $154 million in goodwill and a negative $804 million retained earnings balance.
| Total Current Assets | 1.19B | 1.24B | 1.25B | 1.39B | 1.75B | 1.8B | 430.91M | 197.21M |
| Cash & Short-Term Investments | 712.06M | 1.08B | 1.1B | 1.25B | 1.62B | 1.71B | 370.34M | 155.57M |
| Cash Only | 674.79M | 981.82M | 923.02M | 980.97M | 1.18B | 1.25B | 220.43M | 60.34M |
| Short-Term Investments | 37.27M | 97.7M | 179.41M | 268.72M | 440.86M | 464.49M | 149.9M | 95.22M |
| Accounts Receivable | 45.89M | 125.93M | 118.59M | 109.19M | 80.86M | 56.19M | 41.43M | 26.46M |
| Days Sales Outstanding | 57.9 | 73.55 | 85.38 | 58.94 | 39.45 | 39.66 | 52.09 | 67.42 |
| Inventory | 0 | 1.95M | 3.68M | 4.31M | 5.15M | 3.94M | 781K | 0 |
| Days Inventory Outstanding | 0.91 | 1.28 | 8.65 | 4.54 | 4.39 | 5.04 | 1.65 | - |
| Other Current Assets | 430.47M | 13.71M | 11.33M | 10.54M | 14.67M | 11.86M | 10.03M | 9.15M |
| Total Non-Current Assets | 288.3M | 289.72M | 213.91M | 200.99M | 23.58M | 31.65M | 26.77M | 25.99M |
| Property, Plant & Equipment | 71.42M | 68.19M | 40.23M | 25.25M | 16.45M | 20.98M | 22.89M | 25.77M |
| Fixed Asset Turnover | 10.08x | 9.16x | 12.60x | 26.78x | 45.47x | 24.65x | 12.68x | 5.56x |
| Goodwill | 153.96M | 154.71M | 123.52M | 123.52M | 0 | 0 | 0 | 0 |
| Intangible Assets | 48.41M | 51.39M | 29.77M | 35.63M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 7.58M | 7.58M | 0 | 0 | 0 | 8.38M | 0 | 0 |
| Other Non-Current Assets | 14.5M | 7.31M | 19.98M | 16.09M | 5.92M | 2.29M | 3.89M | 218K |
| Total Assets | 1.48B | 1.53B | 1.46B | 1.59B | 1.77B | 1.83B | 457.68M | 223.19M |
| Asset Turnover | 0.46x | 0.41x | 0.35x | 0.43x | 0.42x | 0.28x | 0.63x | 0.64x |
| Asset Growth % | -1.08% | 4.23% | -7.96% | -10.2% | -3.28% | 299.93% | 105.06% | - |
| Total Current Liabilities | 721.14M | 749.06M | 370.99M | 336.58M | 282.88M | 237.97M | 141.1M | 64.31M |
| Accounts Payable | 281.09M | 226.37M | 193.93M | 175.06M | 145.99M | 123.87M | 80.55M | 32.64M |
| Days Payables Outstanding | 332.48 | 148.82 | 456.23 | 184.33 | 124.44 | 158.38 | 170.56 | 143.85 |
| Short-Term Debt | 0 | 10.74M | 7.72M | 7.89M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 19.39M | 11.76M | 13.59M | 11.83M | 17.05M | 19.06M | 3.98M | 684K |
| Other Current Liabilities | 440.05M | 443.51M | 47.62M | 45.85M | 43.76M | 36.34M | 23.61M | 11.39M |
| Current Ratio | 1.65x | 1.65x | 3.37x | 4.13x | 6.17x | 7.56x | 3.05x | 3.07x |
| Quick Ratio | 1.65x | 1.65x | 3.36x | 4.11x | 6.16x | 7.54x | 3.05x | 3.07x |
| Cash Conversion Cycle | -273.67 | -73.99 | -362.21 | -120.85 | -80.61 | -113.68 | -116.82 | - |
| Total Non-Current Liabilities | 13.29M | 14.02M | 7.2M | 9.72M | 14.51M | 18.98M | 28.42M | 21.54M |
| Long-Term Debt | 4.8M | 5.54M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 13.35M | 5.54M | 870K | 5.13M | 9.03M | 12.43M | 15.45M | 17.67M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 8.49M | 309K | 1.55M | 520K | 1.27M | 450K | 4.1M | 947K |
| Total Liabilities | 734.43M | 763.08M | 378.19M | 346.3M | 297.39M | 256.95M | 169.52M | 85.85M |
| Total Debt | 4.8M | 21.81M | 13.22M | 16.93M | 12.43M | 15.45M | 18.22M | 19.73M |
| Net Debt | -669.99M | -960.01M | -909.8M | -964.05M | -1.17B | -1.23B | -202.21M | -40.61M |
| Debt / Equity | 0.01x | 0.03x | 0.01x | 0.01x | 0.01x | 0.01x | 0.06x | 0.14x |
| Debt / EBITDA | 0.98x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -137.07x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | - | - | - | - | - | - |
| Total Equity | 742.28M | 761.96M | 1.09B | 1.24B | 1.47B | 1.57B | 288.16M | 137.34M |
| Equity Growth % | -104.16% | -29.77% | -12.74% | -15.59% | -6.39% | 446.02% | 109.81% | - |
| Book Value per Share | 1.71 | 1.65 | 2.09 | 2.33 | 2.70 | 2.91 | 0.54 | 0.26 |
| Total Shareholders' Equity | 742.28M | 761.96M | 1.09B | 1.24B | 1.47B | 1.57B | 288.16M | 137.34M |
| Common Stock | 43K | 43K | 50K | 52K | 53K | 54K | 13K | 12K |
| Retained Earnings | -804M | -811.83M | -797.91M | -825.2M | -602.23M | -417.45M | -253.52M | -205.83M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -310K | 1.51M | -314K | 762K | -7.24M | -2.23M | 25K | 46K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High client concentration dependency
According to recent quarterly filings, Marqeta has maintained a relatively stable asset base of approximately $1.5 billion as of 2026Q1, suggesting that the company is successfully scaling its transaction-based infrastructure without requiring a proportional increase in capital-intensive physical assets or long-term debt obligations.
The consistency in total assets over the last ten quarters indicates that the business model remains asset-light, focusing on software-defined payment orchestration rather than physical infrastructure. Investors should monitor whether this stability persists as the company attempts to diversify its revenue streams beyond its core interchange-heavy client base.
As reported in financial statements, Marqeta maintains a substantial liquidity position with $674.8 million in cash as of 2026Q1, providing a significant buffer against operational volatility despite the company's historical reliance on high-volume, concentrated client processing activity to drive its underlying cash flow generation.
The current ratio of 1.65 reflects a healthy ability to meet short-term obligations, though the decline from the 4.0x range seen in 2023 suggests a more active deployment of capital. This liquidity profile appears sufficient to fund ongoing R&D and potential strategic initiatives, provided that the company manages its working capital cycles effectively.
Based on the company's reported figures, retained earnings remain deeply negative at -$804.0 million as of 2026Q1, highlighting the persistent impact of historical operating losses and the ongoing challenge of achieving sustained GAAP profitability despite the company's rapid expansion in total processing volume.
The persistent negative retained earnings suggest that the company has prioritized market share acquisition over immediate bottom-line returns. Investors should scrutinize the extent to which future equity growth is driven by organic earnings versus continued reliance on stock-based compensation, which may dilute existing shareholders over time.
Data from recent balance sheets indicates that goodwill has risen to $154.0 million as of 2026Q1, representing a non-trivial portion of the company's equity base that warrants further investigation regarding the potential for future impairment charges if acquired technologies fail to meet long-term growth expectations.
While goodwill is a standard feature of growth-oriented technology firms, its presence here suggests that past inorganic expansion may be masking the true organic performance of the core platform. Any significant write-down of these assets could negatively impact the book value and signal a mismatch between acquisition costs and realized operational synergies.
Quick answers to the most common questions about buying MQ stock.
As of 2025, Marqeta, Inc. (MQ) had total assets of $1.53B including $1.24B in current assets.
Marqeta, Inc. (MQ) carries total debt of $21.8M, offset by $1.08B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Marqeta, Inc. (MQ) has total shareholders' equity (book value) of $762.0M ($1.65 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Marqeta, Inc. (MQ) reported a current ratio of 1.65x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.