The company's financial leverage has escalated significantly, with total debt rising to $1.4 billion in 2026Q1, resulting in a debt-to-equity ratio of 1.13.
| Total Current Assets | 398.17M | 563.97M | 394.02M | 251.01M | 308.52M | 371.76M | 133.02M | 123.21M |
| Cash & Short-Term Investments | 91.62M | 325.93M | 198.46M | 52.8M | 126.75M | 225.55M | 22.48M | 9.82M |
| Cash Only | 91.62M | 325.93M | 198.46M | 47.28M | 126.75M | 225.55M | 22.48M | 9.82M |
| Short-Term Investments | 0 | 0 | 0 | 5.52M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 87.54M | 64.36M | 67.14M | 41.31M | 26.86M | 25.14M | 40.35M | 41.52M |
| Days Sales Outstanding | 49.18 | 35.98 | 43.68 | 46.81 | 27.19 | 25.32 | 43.37 | 63.32 |
| Inventory | 191.03M | 139.63M | 116.35M | 145.65M | 142.96M | 106.91M | 58.78M | 69.95M |
| Days Inventory Outstanding | 180.9 | 183.52 | 174.13 | 274.3 | 225.06 | 205.68 | 120.86 | 164.28 |
| Other Current Assets | 27.99M | 34.05M | 3.39M | 1.6M | 1.16M | 1.53M | 4.06M | 874K |
| Total Non-Current Assets | 2.77B | 2.09B | 2.02B | 2.08B | 2.15B | 2.21B | 1.01B | 1.02B |
| Property, Plant & Equipment | 144.08M | 121M | 88.25M | 81.81M | 77.43M | 62.25M | 48.23M | 46.29M |
| Fixed Asset Turnover | 5.65x | 5.40x | 6.36x | 3.94x | 4.66x | 5.82x | 7.04x | 5.17x |
| Goodwill | 1.37B | 1.07B | 1.03B | 1.04B | 1.03B | 1.04B | 482.04M | 473.19M |
| Intangible Assets | 1.25B | 899.32M | 898.42M | 945.01M | 1.04B | 1.1B | 473.7M | 500.13M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 6.71M | 3.5M | 1.16M | 1.32M | 1.77M | 2.22M | 1.21M | 2.66M |
| Total Assets | 3.16B | 2.65B | 2.42B | 2.33B | 2.46B | 2.58B | 1.14B | 1.15B |
| Asset Turnover | 0.26x | 0.25x | 0.23x | 0.14x | 0.15x | 0.14x | 0.30x | 0.21x |
| Asset Growth % | 55.89% | 9.79% | 3.51% | -4.97% | -4.72% | 126.53% | -0.64% | - |
| Total Current Liabilities | 128.89M | 175.12M | 62.49M | 55.05M | 74.15M | 100.49M | 32.92M | 47.88M |
| Accounts Payable | 38.41M | 30.3M | 23.52M | 21.64M | 36.79M | 27.47M | 9.87M | 19.48M |
| Days Payables Outstanding | 40.03 | 39.82 | 35.2 | 40.75 | 57.92 | 52.85 | 20.29 | 45.74 |
| Short-Term Debt | 0 | 0 | 0 | 2.75M | 0 | 0 | 6.72M | 5.61M |
| Deferred Revenue (Current) | 35.03M | 1.88M | 1.84M | 0 | 0 | 445K | 286K | 436K |
| Other Current Liabilities | 87.16M | 142.94M | -2.94M | 16.56M | 5.81M | 10.5M | 5.2M | 13.12M |
| Current Ratio | 3.09x | 3.22x | 6.31x | 4.56x | 4.16x | 3.70x | 4.04x | 2.57x |
| Quick Ratio | 1.61x | 2.42x | 4.44x | 1.91x | 2.23x | 2.64x | 2.25x | 1.11x |
| Cash Conversion Cycle | 190.06 | 179.68 | 182.61 | 280.36 | 194.33 | 178.15 | 143.94 | 181.86 |
| Total Non-Current Liabilities | 1.83B | 1.34B | 1.2B | 1.13B | 1.24B | 1.4B | 813.86M | 835.21M |
| Long-Term Debt | 1.33B | 33.55M | 780.57M | 775.06M | 665.28M | 664.13M | 680.55M | 724.25M |
| Capital Lease Obligations | 141.18M | 0 | 21.55M | 20.45M | 15.48M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 440.81M | 80.41M | 152.2M | 272.47M | 278.27M | 297.15M | 112.16M | 110.21M |
| Other Non-Current Liabilities | 342.44M | 1.23B | 242.31M | 59.11M | 284.53M | 435M | 21.15M | 741K |
| Total Liabilities | 1.96B | 1.52B | 1.26B | 1.18B | 1.32B | 1.5B | 846.78M | 883.09M |
| Total Debt | 1.37B | 33.55M | 805.53M | 798.26M | 684.3M | 664.13M | 687.27M | 729.87M |
| Net Debt | 1.27B | -292.37M | 607.08M | 750.98M | 557.55M | 438.57M | 664.79M | 720.04M |
| Debt / Equity | 1.13x | 0.03x | 0.70x | 0.69x | 0.60x | 0.61x | 2.36x | 2.78x |
| Debt / EBITDA | -13.36x | - | 13.00x | 5.01x | 3.49x | - | 5.30x | 13.97x |
| Net Debt / EBITDA | -12.47x | - | 9.80x | 4.71x | 2.85x | - | 5.13x | 13.78x |
| Interest Coverage | -5.17x | -5.04x | -0.09x | 3.27x | 3.05x | -13.00x | 1.70x | -0.09x |
| Total Equity | 1.2B | 1.13B | 1.16B | 1.15B | 1.14B | 1.08B | 291.42M | 262.39M |
| Equity Growth % | 17.72% | -2.07% | 0.43% | 1.18% | 5.3% | 271.15% | 11.07% | - |
| Book Value per Share | 7.30 | 7.62 | 7.94 | 6.92 | 6.51 | 6.88 | 1.85 | 1.67 |
| Total Shareholders' Equity | 1.2B | 1.13B | 1.16B | 1.15B | 1.14B | 1.08B | 291.42M | 262.39M |
| Common Stock | 19K | 17K | 17K | 165.07M | 163.24M | 157.24M | 53.05M | 53.05M |
| Retained Earnings | -720.15M | -793.09M | -586.72M | -580.82M | -648.3M | -738.52M | -47.79M | -72.04M |
| Treasury Stock | -168.2M | -168.2M | -127.83M | -113.41M | -49.34M | 0 | 0 | 0 |
| Accumulated OCI | -12.94M | -6.37M | -39.23M | -19.71M | -25.47M | -7.13M | -3.17M | -7.96M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
High leverage and seasonality
According to the latest quarterly filings, Perimeter's total debt surged to $1.4 billion in 2026Q1 from $819.9 million in 2025Q4, driving the debt-to-equity ratio to 1.13 and signaling a significant shift toward a more aggressive, debt-funded capital structure that warrants close monitoring by investors.
The rapid expansion of the debt load suggests that the company is utilizing external financing to support its inorganic growth strategy rather than relying on internal cash generation. This increased leverage profile may constrain financial flexibility, particularly given the inherent volatility of the company's seasonal revenue streams.
Based on reported financial statements, goodwill accounts for $1.4 billion of the company's $3.2 billion in total assets as of 2026Q1, indicating that a substantial portion of the balance sheet is comprised of intangible value rather than tangible, productive assets like the $144.1 million in net PPE.
The heavy reliance on goodwill suggests that the company's valuation is highly sensitive to the performance of past acquisitions. Investors should monitor whether these intangible assets remain supported by future cash flows, as any impairment could significantly erode the reported equity base.
As indicated by recent balance sheet data, the current ratio declined to 3.09 in 2026Q1 from a peak of 6.31 in 2024Q4, reflecting a tightening liquidity position as the company navigates the off-season and absorbs the impact of recent capital-intensive acquisition activities.
While a current ratio above 3.0 appears healthy on the surface, the rapid depletion of cash reserves suggests that the company's liquidity is highly dependent on the timing of seasonal cash inflows. This volatility necessitates a cautious view of the company's ability to meet short-term obligations.
Based on the company's reported figures, the accumulated deficit in retained earnings reached $720.2 million in 2026Q1, highlighting a persistent inability to generate sustained bottom-line profitability despite the company's strong gross margin profile in its core firefighting segment.
The persistent negative retained earnings suggest that the company's operational costs and non-cash charges are consistently outpacing its revenue generation. This trend raises questions about the long-term sustainability of the current business model and the potential for future equity dilution to cover ongoing operational shortfalls.
Quick answers to the most common questions about buying PRM stock.
As of 2025, Perimeter Solutions, S.A. (PRM) had total assets of $2.65B including $564.0M in current assets.
Perimeter Solutions, S.A. (PRM) carries total debt of $33.6M, offset by $325.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Perimeter Solutions, S.A. (PRM) has total shareholders' equity (book value) of $1.13B ($7.62 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Perimeter Solutions, S.A. (PRM) reported a current ratio of 3.22x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.