The balance sheet remains heavily weighted toward intangible assets, with goodwill representing $776M of the $1.5B total assets as of 2026Q1, while the $208.9M debt load continues to pressure the firm's equity stability.
| Total Current Assets | 320.71M | 252.81M | 125.92M | 109.31M | 96.17M | 55.22M | 39.31M | 9.75M |
| Cash & Short-Term Investments | 145.21M | 95.18M | 49.07M | 30.28M | 28.32M | 20.52M | 22.08M | 9.29M |
| Cash Only | 145.21M | 95.18M | 49.07M | 30.28M | 28.32M | 20.52M | 22.08M | 9.29M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 85.78M | 81.27M | 65.61M | 70.01M | 58.45M | 28.7M | 15.79M | 238K |
| Days Sales Outstanding | 83.1 | 88.45 | 78.75 | 104.81 | 132.89 | 76.12 | 100.35 | 4.57 |
| Inventory | 69.35M | 55.85M | 2.24M | 1.52M | 1.47M | 688K | 330K | 0 |
| Days Inventory Outstanding | 64.33 | 64.08 | 3.15 | 2.98 | 4.07 | 2.32 | 2.66 | - |
| Other Current Assets | 20.37M | 20.51M | 8.03M | 6.43M | 5.69M | 2.49M | 1.11M | 62K |
| Total Non-Current Assets | 1.19B | 1.2B | 166.69M | 161.96M | 161.53M | 206.54M | 117.47M | 355K |
| Property, Plant & Equipment | 87.3M | 80.94M | 33.11M | 29.09M | 25.86M | 19.38M | 3.26M | 253K |
| Fixed Asset Turnover | 4.52x | 4.14x | 9.18x | 8.38x | 6.21x | 7.10x | 17.61x | 75.15x |
| Goodwill | 775.97M | 779.11M | 71.16M | 65.76M | 64.62M | 96.31M | 52.71M | 0 |
| Intangible Assets | -449.27M | 336.15M | 61.79M | 62.98M | 66.87M | 90.84M | 60.96M | 0 |
| Long-Term Investments | 0 | 0 | 0 | 3.61M | 3.27M | 0 | 0 | 0 |
| Other Non-Current Assets | 776.42M | 118K | 557K | 511K | 909K | 0 | 534K | 102K |
| Total Assets | 1.51B | 1.45B | 292.62M | 271.27M | 257.7M | 261.76M | 156.77M | 10.11M |
| Asset Turnover | 0.25x | 0.23x | 1.04x | 0.90x | 0.62x | 0.53x | 0.37x | 1.88x |
| Asset Growth % | 1654.59% | 395.23% | 7.87% | 5.27% | -1.55% | 66.96% | 1451.45% | - |
| Total Current Liabilities | 183.1M | 155.61M | 149.34M | 112.04M | 94.74M | 51.24M | 33.56M | 8.61M |
| Accounts Payable | 42.38M | 32.3M | 32.13M | 18.57M | 17.58M | 13.13M | 7.16M | 1.65M |
| Days Payables Outstanding | 40.05 | 37.06 | 45.16 | 36.48 | 48.68 | 44.29 | 57.68 | 40.03 |
| Short-Term Debt | 13.05M | 12.02M | 1.27M | 1.38M | 3.58M | 3.68M | 2.9M | 208K |
| Deferred Revenue (Current) | 265.32M | 60.12M | 67.2M | 52.65M | 29.82M | 15.73M | 15.66M | 0 |
| Other Current Liabilities | 47.83M | 51.18M | 19.73M | 2.36M | 3.67M | 1.57M | 378K | 6.71M |
| Current Ratio | 1.75x | 1.62x | 0.84x | 0.98x | 1.02x | 1.08x | 1.17x | 1.13x |
| Quick Ratio | 1.37x | 1.27x | 0.83x | 0.96x | 1.00x | 1.06x | 1.16x | 1.13x |
| Cash Conversion Cycle | 107.38 | 115.47 | 36.74 | 71.31 | 88.28 | 34.16 | 45.33 | - |
| Total Non-Current Liabilities | 240.5M | 233.51M | 195.18M | 106.41M | 93.07M | 103.3M | 84.02M | 5.68M |
| Long-Term Debt | 160.4M | 187.54M | 124.46M | 86.84M | 74.75M | 74.87M | 76.64M | 3.1M |
| Capital Lease Obligations | 127.45M | 31.75M | 14.42M | 13.44M | 13.25M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 154.87M | 38.36M | 582K | 2.4M | 3.25M | 8.6M | 7.37M | 0 |
| Other Non-Current Liabilities | 6.2M | -24.14M | 55.71M | 3.73M | 1.82M | 19.83M | 6K | 2.58M |
| Total Liabilities | 423.61M | 389.12M | 344.53M | 218.44M | 187.81M | 154.53M | 117.58M | 14.29M |
| Total Debt | 208.92M | 231.3M | 144.98M | 105.83M | 95.08M | 78.55M | 79.54M | 3.3M |
| Net Debt | 63.71M | 136.12M | 95.91M | 75.56M | 66.77M | 58.03M | 57.47M | -5.99M |
| Debt / Equity | 0.19x | 0.22x | - | 2.00x | 1.36x | 0.73x | 2.03x | - |
| Debt / EBITDA | -0.86x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.26x | - | - | - | - | - | - | - |
| Interest Coverage | -6.49x | -5.34x | -2.45x | -1.45x | -5.67x | -6.75x | -16.20x | - |
| Total Equity | 1.09B | 1.06B | -51.91M | 52.83M | 69.89M | 107.22M | 39.2M | -4.18M |
| Equity Growth % | 14514.81% | 2142.07% | -198.27% | -24.42% | -34.82% | 173.56% | 1037.46% | - |
| Book Value per Share | 5.62 | 8.87 | -0.78 | 0.82 | 1.09 | 1.71 | 0.66 | -0.07 |
| Total Shareholders' Equity | 1.09B | 1.06B | -51.91M | 52.6M | 69.66M | 107.22M | 39.2M | -4.18M |
| Common Stock | 20K | 19K | 7K | 7K | 6K | 6K | 4K | 0 |
| Retained Earnings | -698.26M | -621.76M | -348.11M | -233.79M | -206.53M | -75.91M | -14.37M | -13.2M |
| Treasury Stock | -7.34M | -7.34M | -3.57M | -951K | -381K | 0 | 0 | 0 |
| Accumulated OCI | 3.88M | 10.3M | 1.34M | 2.9M | 2.08M | 103K | 506K | -8K |
| Minority Interest | 0 | 0 | 0 | 228K | 226K | 0 | 0 | 0 |
Liquidity and Dilution Risk
As reported in recent financial filings, Redwire’s total assets surged to $1.5B by 2026Q1, yet this growth is heavily underpinned by a massive $776M goodwill balance, suggesting that the company's balance sheet trajectory remains tethered to aggressive, acquisition-led expansion rather than organic capital accumulation.
The rapid increase in asset scale appears to be a direct result of inorganic growth strategies, which complicates the assessment of underlying business quality. Investors should monitor whether this asset base can generate sufficient returns to justify the significant goodwill premiums currently carried on the books.
Based on the latest quarterly data, Redwire’s debt-to-equity ratio has stabilized at 0.19 as of 2026Q1, a notable improvement from the extreme volatility observed in 2024, though the $208.9M debt load remains a significant burden given the company's persistent negative retained earnings.
While the current leverage ratio appears more manageable than in previous periods, the reliance on debt to fund operations in a high-interest environment warrants caution. The company's ability to service these obligations remains contingent on achieving a long-awaited inflection in operational cash flow.
According to recent SEC filings, Redwire’s cash position of $145.2M in 2026Q1 provides a modest liquidity buffer, yet the current ratio of 1.75 may overstate the company's immediate flexibility given the high working capital requirements inherent in long-term aerospace contract execution.
The company's liquidity profile appears vulnerable to any delays in milestone payments or unexpected cost overruns. Without a clear path to positive free cash flow, the current cash runway may necessitate further capital market activity, potentially leading to additional shareholder dilution.
As evidenced by the balance sheet, goodwill accounts for over 50% of total assets at $776M, which represents a significant non-obvious risk that could lead to substantial future impairment charges if the acquired business units fail to meet their projected performance targets.
This heavy reliance on intangible assets suggests that the company's book value may be overstated relative to its tangible operational capacity. Analysts should consider the potential for a non-cash write-down, which would further erode the already fragile equity base.
Quick answers to the most common questions about buying RDW stock.
As of 2025, Redwire Corporation (RDW) had total assets of $1.45B including $252.8M in current assets.
Redwire Corporation (RDW) carries total debt of $231.3M, offset by $95.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Redwire Corporation (RDW) has total shareholders' equity (book value) of $1.06B ($8.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Redwire Corporation (RDW) reported a current ratio of 1.62x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.