The company maintains a conservative capital structure with a debt-to-equity ratio of 0.03, though total assets have contracted from $1.1 billion in 2023Q4 to $866.2 million in 2026Q1.
| 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 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 |
|---|
| Total Current Assets | 470.37M | 519.78M | 561.47M | 726.59M | 603.46M | 446.17M | 147.36M | 115.11M | 103.89M | 114.27M | 113.76M | 144.57M | 159.16M | 47.59M | 47.69M | 20.61M | 38.31M | 36.73M | 34.12M | 27.8M | 28.6M | 7.04M | 7.6M | 4.48M | 1.66M |
| Cash & Short-Term Investments | 292.97M | 314.08M | 373.33M | 472.68M | 430.92M | 321.65M | 60.36M | 61.62M | 43.11M | 37.48M | 32.38M | 59.96M | 116.18M | 23.36M | 21.76M | 11.26M | 31.03M | 29.59M | 26.63M | 23.42M | 25.75M | 4.89M | 5.61M | 3.83M | 1.66M |
| Cash Only | 52.06M | 91.17M | 156.23M | 187.61M | 177.52M | 104.45M | 47.66M | 38.39M | 39.11M | 31.57M | 23.96M | 17.52M | 101.18M | 23.36M | 21.76M | 11.26M | 16.05M | 24.37M | 7.83M | 4.61M | 8.37M | 2.43M | 4.34M | 2.23M | 1.66M |
| Short-Term Investments | 240.91M | 222.91M | 217.11M | 285.07M | 253.4M | 217.2M | 12.7M | 23.23M | 4M | 5.91M | 8.41M | 42.44M | 15M | 0 | 0 | 0 | 14.97M | 5.22M | 18.79M | 18.81M | 17.38M | 2.46M | 1.27M | 1.6M | 0 |
| Accounts Receivable | 150.78M | 187.87M | 164.36M | 231.54M | 160.49M | 115.36M | 81.22M | 49.1M | 55.56M | 62.83M | 71.35M | 66.66M | 30.81M | 21.5M | 14.23M | 8.99M | 7.05M | 6.92M | 7.13M | 4.01M | 2.44M | 1.88M | 1.72M | 560K | 0 |
| Days Sales Outstanding | 140.05 | 155.87 | 120.39 | 113.72 | 91.49 | 88 | 90.37 | 68.54 | 80.2 | 83.7 | 83.25 | 110.12 | 28.93 | 90.03 | 86.25 | 92.55 | 87.26 | 92.82 | 118.88 | 78.37 | 82.04 | 92.8 | 101.13 | 39.61 | - |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2 | 549K | 0 | -889K | -1.44M | 0 | -7.28M | -7.14M | 362K | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | 0 | 1.87 | - | - | - | - | - | - | 73.61 | - | - | - | - | - | - |
| Other Current Assets | 26.62M | 17.83M | 23.77M | 22.37M | 12.05M | 1.09M | 1.22M | 1.29M | 2.56M | 0 | 2.3M | 0 | 0 | 110K | 360K | 258K | 0 | 0 | 362K | 368K | 418K | 274K | 270K | 93K | 0 |
| Total Non-Current Assets | 395.82M | 393.98M | 354.06M | 350.68M | 267.55M | 267.06M | 211.32M | 168.67M | 152.55M | 159.76M | 254.69M | 298.28M | 196.98M | 67.29M | 74.99M | 33.92M | 3.04M | 3.16M | 3.53M | 3.97M | 2.82M | 1.42M | 664K | 547K | 0 |
| Property, Plant & Equipment | 30.45M | 28.86M | 29.13M | 9.79M | 13.74M | 15.79M | 27.04M | 33.35M | 15.65M | 17.48M | 14.21M | 12.71M | 12.18M | 1.38M | 1.52M | 1.3M | 1.38M | 1.37M | 1.48M | 1.81M | 877K | 288K | 95K | 85K | 0 |
| Fixed Asset Turnover | 15.08x | 15.25x | 17.11x | 75.93x | 46.59x | 30.31x | 12.13x | 7.84x | 16.16x | 15.68x | 22.02x | 17.38x | 31.92x | 63.29x | 39.57x | 27.29x | 21.36x | 19.91x | 14.82x | 10.33x | 12.37x | 25.70x | 65.35x | 60.71x | - |
| Goodwill | 0 | 355.24M | 247.09M | 247.97M | 195.53M | 189.26M | 152.3M | 125.81M | 125.05M | 125.05M | 190.74M | 203.69M | 164.09M | 37.44M | 37.44M | 24.75M | 0 | 0 | 0 | 125K | 288K | 0 | 0 | 0 | 0 |
| Intangible Assets | 351.08M | 0 | 68.92M | 88.65M | 51.66M | 56.7M | 24.38M | 2.63M | 6.5M | 11.31M | 44.02M | 66.07M | 16.89M | 27.04M | 35.3M | 6.61M | 202K | 134K | 149K | 164K | 341K | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -12.34M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 348K | 0 |
| Other Non-Current Assets | 567K | 620K | 416K | 85K | 49K | 79K | 496K | 708K | 943K | 1.13M | 1.62M | 15.8M | 3.82M | 1.44M | 1.22M | 1.26M | 1.35M | 1.6M | 1.57M | 1.78M | 1.09M | 981K | 442K | 0 | 0 |
| Total Assets | 866.19M | 913.76M | 915.53M | 1.08B | 871.01M | 713.23M | 358.68M | 283.78M | 256.45M | 274.03M | 368.45M | 442.85M | 356.14M | 114.88M | 122.68M | 54.53M | 41.35M | 39.89M | 37.65M | 31.77M | 31.42M | 8.46M | 8.26M | 5.03M | 2.64M |
| Asset Turnover | 0.49x | 0.48x | 0.54x | 0.69x | 0.74x | 0.67x | 0.91x | 0.92x | 0.99x | 1.00x | 0.85x | 0.50x | 1.09x | 0.76x | 0.49x | 0.65x | 0.71x | 0.68x | 0.58x | 0.59x | 0.35x | 0.87x | 0.75x | 1.03x | 1.54x |
| Asset Growth % | -2.17% | -0.19% | -15.01% | 23.68% | 22.12% | 98.85% | 26.4% | 10.66% | -6.42% | -25.63% | -16.8% | 24.35% | 210.02% | -6.36% | 124.98% | 31.88% | 3.64% | 5.96% | 18.53% | 1.09% | 271.44% | 2.37% | 64.33% | 90.35% | - |
| Total Current Liabilities | 167.65M | 188.58M | 161.85M | 340.03M | 234.61M | 193.71M | 120.11M | 83.31M | 77.11M | 81.37M | 86.71M | 107.17M | 65.62M | 50.45M | 51.98M | 20.65M | 10.24M | 9.89M | 8.98M | 8.04M | 7.04M | 4.08M | 1.36M | 575K | 6K |
| Accounts Payable | 113.89M | 129.88M | 122M | 217.18M | 155.85M | 107.73M | 72.5M | 47.68M | 38.21M | 39.18M | 38.29M | 40.39M | 21.17M | 13.9M | 9.56M | 3.21M | 1.83M | 1.04M | 1.95M | 1.55M | 464K | 114K | 102K | 95K | 0 |
| Days Payables Outstanding | 151.92 | 154.94 | 133.8 | 168.38 | 141.16 | 125.54 | 120.22 | 107.82 | 91.68 | 91.94 | 89.18 | 137.24 | 38.18 | 115.99 | 127.86 | 412.17 | 416.14 | 240.17 | 396.11 | 324.3 | 197.39 | 73 | 78.71 | 95.79 | - |
| Short-Term Debt | 0 | 2.32M | 0 | 0 | 3.9M | 0 | 12.85M | 12M | 16.06M | 13.99M | 17.94M | 23.76M | 2.3M | 2.3M | 2.3M | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 6K | 4K | 6K |
| Deferred Revenue (Current) | 4.19M | 1.21M | 2.05M | 2.3M | 2.38M | 3.85M | 5.71M | 4.19M | 3.79M | 5.27M | 5.35M | 7.73M | 7.32M | 9.05M | 5.13M | 4.28M | 2.2M | 2.27M | 2.6M | 3.25M | 3.7M | 2.33M | 813K | 0 | 0 |
| Other Current Liabilities | 16.94M | 55.17M | 2.46M | 74.55M | 51.69M | 38.92M | 10.57M | 4.69M | 2.07M | 14.91M | 7.74M | 24.56M | 10.37M | 20.94M | 26.21M | 11.97M | 4.09M | 4.78M | 2.96M | 1.3M | 1.35M | 0 | 0 | 0 | -6K |
| Current Ratio | 2.81x | 2.76x | 3.47x | 2.14x | 2.57x | 2.30x | 1.23x | 1.38x | 1.35x | 1.40x | 1.31x | 1.35x | 2.43x | 0.94x | 0.92x | 1.00x | 3.74x | 3.72x | 3.80x | 3.46x | 4.06x | 1.73x | 5.58x | 7.79x | 276.33x |
| Quick Ratio | 2.81x | 2.76x | 3.47x | 2.14x | 2.57x | 2.30x | 1.23x | 1.38x | 1.35x | 1.40x | 1.31x | 1.34x | 2.43x | 0.96x | 0.95x | 1.00x | 4.45x | 4.44x | 3.76x | 3.46x | 4.06x | 1.73x | 5.58x | 7.79x | 276.33x |
| Cash Conversion Cycle | -11.87 | - | - | - | - | - | - | - | - | - | -5.93 | -25.26 | - | - | - | - | - | - | -203.62 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 48.98M | 49.17M | 30.74M | 19.09M | 53.27M | 52.56M | 54.45M | 35.29M | 30.55M | 54.33M | 73.6M | 135.84M | 44.52M | 7.86M | 15.98M | 2.07M | 2.96M | 3.01M | 3.13M | 2.95M | 1.8M | 4.42M | 4.05M | 3.34M | 6K |
| Long-Term Debt | 0 | 20.03M | 0 | 0 | 0 | 0 | 0 | 8.33M | 24.39M | 46.72M | 59.79M | 75.29M | 37.7M | 4.25M | 6.55M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 79.29M | 20.03M | 18.65M | 3.45M | 7.58M | 9.77M | 17.7M | 20.36M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6K | 0 | 0 |
| Deferred Tax Liabilities | 19.6M | 7.4M | 0 | 0 | 791K | 0 | 0 | 0 | 0 | 0 | 8.09M | 19.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 22.13M | 1.71M | 12.08M | 15.64M | 44.9M | 42.79M | 36.75M | 6.59M | 6.16M | 7.61M | 5.72M | 41.09M | 7.54M | 3.61M | 9.44M | 946K | 1.38M | 1.39M | 1.39M | 2.95M | 1.8M | 4.42M | 4.04M | 3.34M | 0 |
| Total Liabilities | 216.63M | 237.75M | 192.59M | 359.12M | 287.88M | 246.27M | 174.56M | 118.59M | 107.67M | 135.69M | 160.31M | 243.01M | 110.14M | 58.3M | 67.97M | 22.71M | 13.2M | 12.89M | 12.11M | 10.99M | 8.85M | 8.49M | 5.41M | 3.91M | 3.9M |
| Total Debt | 21.41M | 42.39M | 22.3M | 7.65M | 11.48M | 13.39M | 35.06M | 44.36M | 40.45M | 60.71M | 77.73M | 99.05M | 38.05M | 6.55M | 8.85M | 0 | 0 | 0 | 0 | 0 | 0 | 4K | 12K | 4K | 6K |
| Net Debt | -30.65M | -48.78M | -133.93M | -179.96M | -166.04M | -91.06M | -12.6M | 5.97M | 1.34M | 29.14M | 53.77M | 81.53M | -63.13M | -16.81M | -12.91M | -11.26M | -16.05M | -24.37M | -7.83M | -4.61M | -8.37M | -2.42M | -4.33M | -2.23M | -1.65M |
| Debt / Equity | 0.03x | 0.06x | 0.03x | 0.01x | 0.02x | 0.03x | 0.19x | 0.27x | 0.27x | 0.44x | 0.37x | 0.50x | 0.15x | 0.12x | 0.16x | - | - | - | - | - | - | - | 0.00x | 0.00x | - |
| Debt / EBITDA | 10.88x | 10.35x | 1.66x | 0.06x | 0.09x | 0.24x | 1.58x | 1.60x | 1.66x | - | 2.08x | - | 0.50x | 0.45x | 0.91x | - | - | - | - | - | - | 0.00x | 0.00x | 0.00x | 0.00x |
| Net Debt / EBITDA | -15.58x | -11.91x | -10.00x | -1.40x | -1.35x | -1.63x | -0.57x | 0.22x | 0.06x | - | 1.44x | - | -0.82x | -1.15x | -1.32x | -1.90x | -1.33x | -2.00x | -6.17x | -1.85x | -1.05x | -0.80x | -1.66x | -0.97x | -1.08x |
| Interest Coverage | - | - | 8.30x | 378.83x | 500.72x | 76.75x | 8.55x | 5.86x | 3.26x | -15.22x | 1.39x | -12.26x | 29.94x | 2.44x | 17.10x | 33.95x | 264.11x | - | - | - | - | - | - | - | - |
| Total Equity | 649.56M | 676.01M | 722.94M | 718.15M | 583.13M | 466.96M | 184.12M | 165.18M | 148.78M | 138.33M | 208.14M | 199.84M | 246M | 56.57M | 54.71M | 31.82M | 28.15M | 27M | 25.54M | 20.77M | 22.58M | -35K | 2.85M | 1.11M | -1.26M |
| Equity Growth % | -25.84% | -6.49% | 0.67% | 23.15% | 24.88% | 153.61% | 11.47% | 11.02% | 7.55% | -33.54% | 4.16% | -18.76% | 334.85% | 3.4% | 71.96% | 13.01% | 4.26% | 5.71% | 22.98% | -8% | 64605.71% | -101.23% | 155.78% | 188.28% | - |
| Book Value per Share | 16.61 | 16.06 | 14.59 | 14.34 | 12.13 | 12.34 | 6.39 | 6.27 | 5.75 | 5.35 | 8.04 | 8.41 | 10.05 | 3.09 | 3.08 | 1.91 | 1.72 | 1.69 | 1.61 | 1.31 | 1.48 | -0.00 | 0.24 | 0.09 | -0.10 |
| Total Shareholders' Equity | 649.56M | 676.01M | 722.94M | 718.15M | 583.13M | 466.96M | 184.12M | 165.18M | 148.78M | 138.33M | 208.14M | 199.84M | 246M | 56.57M | 54.71M | 31.82M | 28.15M | 27M | 25.54M | 20.77M | 22.58M | -35K | 2.85M | 1.11M | -1.26M |
| Common Stock | 327K | 341K | 391K | 413K | 398K | 375K | 224K | 213K | 211K | 211K | 210K | 206K | 189K | 29K | 28K | 31.82M | 22K | 21K | 21K | 20K | 20K | 12K | 11K | 11K | 0 |
| Retained Earnings | 178.68M | 188.68M | 196.62M | 184M | 70.79M | -28.44M | -67.14M | -77.37M | -90.26M | -98.38M | -25.63M | -25.83M | 42.83M | 10.93M | 10.62M | 7.08M | 5.3M | 5.39M | 3.04M | -1.39M | 1.46M | -1.02M | 2.12M | 428K | 0 |
| Treasury Stock | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -1M | -882K | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -147K | 267K | -215K | -83K | -582K | -128K | 112K | 130K | 142K | 532K | -265K | -794K | -7.75M | -4.32M | -3.51M | -3.7M | 100K | 207K | 12K | 112K | 109K | -179K | -401K | 15K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Search partner dependency concentration
As reported in financial statements, Perion's total assets have declined from $1.1 billion in 2023Q4 to $866.2 million in 2026Q1, signaling a contraction in the firm's resource base that aligns with the ongoing deterioration of its core search monetization revenue streams and broader operational challenges.
The reduction in total assets suggests that the company is shrinking its footprint in response to a more difficult competitive environment. Investors should monitor whether this trend represents a strategic downsizing or an involuntary loss of market relevance as the firm struggles to maintain its historical scale.
Based on recent SEC filings, Perion maintains a current ratio of 2.81 as of 2026Q1, providing a significant liquidity buffer that, while down from its peak, continues to offer protection against short-term operational volatility despite the company's recent transition into negative net income territory.
The current ratio indicates that the company remains well-positioned to meet its short-term obligations without immediate reliance on external financing. However, the decline in absolute cash levels from $187.6 million in 2023Q4 to $52.1 million in 2026Q1 warrants close observation as the firm continues to fund operations and share repurchases.
According to the latest balance sheet data, shareholders' equity has decreased to $649.6 million in 2026Q1 from $734.7 million in 2024Q1, a trend driven by the combination of net losses and the company's persistent commitment to share repurchases despite a weakening core business performance.
The erosion of equity suggests that capital is being returned to shareholders at a time when the business may require internal reinvestment to pivot its technology. This strategy appears to prioritize short-term stock support over the long-term preservation of book value, which may limit future financial flexibility.
As noted in recent financial disclosures, goodwill remains a significant component of the balance sheet at $351.1 million, representing over 40% of total assets, which suggests that any further decline in segment performance could trigger material impairment charges that would negatively impact the company's reported equity.
The high concentration of intangible assets relative to the total asset base implies that the company's valuation is heavily dependent on the future success of past acquisitions. Investors should be wary that these assets may not be fully recoverable if the current revenue contraction persists or accelerates.
Quick answers to the most common questions about buying PERI stock.
As of 2025, Perion Network Ltd. (PERI) had total assets of $913.8M including $519.8M in current assets.
Perion Network Ltd. (PERI) carries total debt of $42.4M, offset by $314.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Perion Network Ltd. (PERI) has total shareholders' equity (book value) of $676.0M ($16.06 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Perion Network Ltd. (PERI) reported a current ratio of 2.76x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.