The company's financial position is increasingly distressed, evidenced by a negative equity balance of -$1.7 million and a debt-to-equity ratio of 2.43 as of 2025Q4.
| Total Current Assets | 11.03M | 9.28M | 12.52M | 31.85M | 46.78M | 4.77M | 1.69M | 3.61M |
| Cash & Short-Term Investments | 5.47M | 371.5K | 1.53M | 15.75M | 32.36M | 2.28M | 326.7K | 2.05M |
| Cash Only | 5.47M | 371.5K | 1.53M | 15.75M | 32.36M | 2.28M | 326.7K | 2.05M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.09M | 2.15M | 1.72M | 1.09M | 1.89M | 999.9K | 811.85K | 865.61K |
| Days Sales Outstanding | 94.35 | 148.33 | 75.56 | 74.07 | 235.79 | 187.82 | 114.93 | 225.26 |
| Inventory | 800.82B | 4.59M | 5.89M | 11.55M | 11.12M | 1.05M | 216.79K | 0 |
| Days Inventory Outstanding | 1000K | 474.19 | 307.91 | 1K | 2.03K | 737.24 | 145.39 | - |
| Other Current Assets | -800.81B | 1.67M | 2.38M | 1.97M | 380K | 20.43K | 0 | 100K |
| Total Non-Current Assets | 6.36M | 7.52M | 8.43M | 9.35M | 6.13M | 2.39M | 2.55M | 2.07M |
| Property, Plant & Equipment | 4.4T | 5.11M | 5.61M | 5.94M | 3.84M | 95.23K | 97.3K | 102.42K |
| Fixed Asset Turnover | 0.00x | 1.04x | 1.49x | 0.90x | 0.76x | 20.40x | 26.50x | 13.69x |
| Goodwill | 96K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.07M | 1.06M | 1.2M | 1.34M | 1.48M | 1.62M | 1.76M | 1.94M |
| Long-Term Investments | 0 | 772.37K | 783.21K | 1.77M | 670.95K | 670.95K | 670.95K | 0 |
| Other Non-Current Assets | -4.4T | 580.25K | 838.56K | 297.55K | 141.22K | 3.06K | 23.48K | 23.48K |
| Total Assets | 17.39M | 16.8M | 20.95M | 41.2M | 52.91M | 7.16M | 4.24M | 5.67M |
| Asset Turnover | 0.24x | 0.31x | 0.40x | 0.13x | 0.06x | 0.27x | 0.61x | 0.25x |
| Asset Growth % | 3.54% | -19.82% | -49.15% | -22.14% | 639.5% | 68.67% | -25.22% | - |
| Total Current Liabilities | 9.78M | 11.35M | 7.98M | 7.9M | 9.48M | 8.04M | 2.57M | 1.34M |
| Accounts Payable | 3.41M | 1.88M | 1.69M | 2.39M | 5.74M | 2.96M | 1.5M | 970.68K |
| Days Payables Outstanding | 425.69 | 194.38 | 88.58 | 207.9 | 1.05K | 2.07K | 1.01K | 4.17K |
| Short-Term Debt | 2.59M | 4.65M | 0 | 0 | 0 | 4.29M | 150K | 100K |
| Deferred Revenue (Current) | 1.02M | 506.5K | 697.11K | 1.22M | 719.77K | 0 | 0 | 0 |
| Other Current Liabilities | 2.76M | 6.97K | 105.14K | 113.84K | 110.57K | 196.45K | 88.69K | 0 |
| Current Ratio | 1.13x | 0.82x | 1.57x | 4.03x | 4.93x | 0.59x | 0.66x | 2.70x |
| Quick Ratio | -81857.20x | 0.41x | 0.83x | 2.57x | 3.76x | 0.46x | 0.57x | 2.70x |
| Cash Conversion Cycle | 1000K | 428.13 | 294.89 | 870.85 | 1.22K | -1.15K | -744.94 | - |
| Total Non-Current Liabilities | 5.08M | 6.74M | 5.98M | 6.06M | 13.52M | 0 | 0 | 0 |
| Long-Term Debt | 3.56M | 840.5K | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 4.25M | 4.65M | 5.09M | 3.44M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.52M | 869.88K | 995.79K | 973.29K | 10.07M | 0 | 0 | 0 |
| Total Liabilities | 14.86M | 18.09M | 13.96M | 13.96M | 23M | 8.04M | 2.57M | 1.34M |
| Total Debt | 6.15M | 10.66M | 5.5M | 5.91M | 3.48M | 4.29M | 150K | 100K |
| Net Debt | 681.28K | 10.29M | 3.97M | -9.84M | -28.88M | 2.02M | -176.7K | -1.95M |
| Debt / Equity | 2.43x | - | 0.79x | 0.22x | 0.12x | - | 0.09x | 0.02x |
| Debt / EBITDA | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | - |
| Interest Coverage | -15.13x | -26.66x | - | - | -0.58x | -14.57x | -752.76x | - |
| Total Equity | 2.53M | -1.29M | 6.99M | 27.24M | 29.91M | -881.71K | 1.67M | 4.34M |
| Equity Growth % | 296.22% | -118.45% | -74.34% | -8.94% | 3492.76% | -152.8% | -61.49% | - |
| Book Value per Share | 6.21 | -2.00 | 8.76 | 51.95 | 71.85 | -4.00 | 2.72 | 7.07 |
| Total Shareholders' Equity | -1.67M | -1.26M | 7.69M | 27.64M | 29.51M | -881.71K | 1.67M | 4.34M |
| Common Stock | 927.72K | 6.41K | 5.93K | 2.43K | 1.89K | 2.62K | 2.45K | 2.45K |
| Retained Earnings | -196.42M | -165.6M | -148.24M | -116.96M | -92.94M | -20.46M | -15.57M | -12.55M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 38.04K | 46.49K | 93.68K | 76.18K | 113.45K | -77.84K | 107.62K | 58.94K |
| Minority Interest | 4.2M | -28.81K | -700.47K | -402.42K | 400.27K | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in recent financial filings, Nuvve's equity position has deteriorated into negative territory, reaching -$1.7 million by 2025Q4, which reflects a persistent inability to generate retained earnings and suggests that the company's long-term financial trajectory is increasingly dependent on external capital infusions to remain operational.
The consistent decline in retained earnings, now at -$196.4 million, highlights a structural failure to convert intellectual property into a self-sustaining business model. This trend suggests that the company is consuming its remaining asset base to fund ongoing operating losses, which warrants extreme caution regarding future solvency.
Based on the latest quarterly data, Nuvve's debt-to-equity ratio has reached 2.43, a figure that, when viewed alongside the company's negative equity, indicates that debt is being utilized as a survival mechanism rather than a strategic tool for growth or operational expansion.
The reliance on $6.1 million in debt against a backdrop of negative equity suggests that the company's credit profile is severely compromised. Investors should monitor whether this leverage is sustainable given the lack of positive cash flow to service interest obligations or principal repayments.
According to the 2025Q4 balance sheet, Nuvve holds only $5.5 million in cash, which, when contrasted with the company's historical quarterly burn rates, suggests an extremely limited runway that may necessitate immediate and potentially dilutive financing to avoid a total depletion of liquid resources.
The current ratio of 1.13 provides a thin margin of safety, but this metric is likely inflated by non-liquid assets that cannot be easily converted to meet immediate obligations. The rapid fluctuation in cash levels over the past ten quarters implies that liquidity is highly sensitive to project-based revenue timing, which is inherently unreliable.
As indicated by the company's reported figures, the asset base is heavily weighted toward property, plant, and equipment, which may be subject to significant impairment risks if the company fails to secure the necessary utility-side interconnections required to make these assets commercially viable.
The presence of $4.4 million in net PPE relative to the company's total asset base of $17.4 million suggests that a large portion of the balance sheet is tied to hardware that may lack secondary market value. This concentration of capital in specialized infrastructure warrants further investigation into potential asset impairment charges should commercial deployment continue to stall.
Quick answers to the most common questions about buying NVVE stock.
As of 2025, Nuvve Holding Corp. (NVVE) had total assets of $17.4M including $11.0M in current assets.
Nuvve Holding Corp. (NVVE) carries total debt of $6.1M, offset by $5.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Nuvve Holding Corp. (NVVE) has total shareholders' equity (book value) of $-1.7M ($6.21 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Nuvve Holding Corp. (NVVE) reported a current ratio of 1.13x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.