The company's financial position appears increasingly precarious, as evidenced by a negative equity balance of $60.5 million and a current ratio of 0.90 as of 2027Q1.
Shimmick Corp. (SHIM) balance sheet — 6-year assets, liabilities & shareholders' equity history
| Metric | TTM | Jan'26 | Jan'25 | Dec'24 | Dec'23 | Dec'21 | Dec'21 |
|---|
| Total Current Assets | 185.16M | 175.38M | 141M | 141M | 257.46M | 255.16M | 255.16M |
| Cash & Short-Term Investments | 18.09M | 19.97M | 33.73M | 33.73M | 62.94M | 73.18M | 73.18M |
| Cash Only | 18.09M | 19.97M | 33.73M | 33.73M | 62.94M | 73.18M | 73.18M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 153.85M | 140.46M | 89.59M | 89.59M | 180.12M | 155.91M | 155.91M |
| Days Sales Outstanding | 115.64 | 104.02 | 68.09 | 68.09 | 103.89 | 99.37 | 99.37 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 13.22M | 14.96M | 17.68M | 17.68M | 971K | 26.08M | 26.08M |
| Total Non-Current Assets | 39.77M | 43.38M | 92.86M | 92.86M | 169.19M | 236.83M | 236.83M |
| Property, Plant & Equipment | 22.89M | 27.04M | 43.36M | 43.36M | 70.23M | 84.43M | 84.43M |
| Fixed Asset Turnover | 16.37x | 18.23x | 11.07x | 11.07x | 9.01x | 6.78x | 6.78x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.8M | 4.09M | 6.67M | 6.67M | 9.24M | 14.68M | 14.68M |
| Long-Term Investments | 51.76M | 11.87M | 19.02M | 19.02M | 21.28M | 17.68M | 17.68M |
| Other Non-Current Assets | 360K | 388K | 23.82M | 23.82M | 51.19M | 100.73M | 100.73M |
| Total Assets | 224.94M | 218.76M | 233.86M | 233.86M | 426.65M | 492M | 492M |
| Asset Turnover | 2.02x | 2.25x | 2.05x | 2.05x | 1.48x | 1.16x | 1.16x |
| Asset Growth % | -43.79% | -6.46% | 0% | -45.19% | -13.28% | - | - |
| Total Current Liabilities | 184.98M | 196.12M | 230.26M | 230.26M | 271.25M | 388.66M | 388.66M |
| Accounts Payable | 69.98M | 69.54M | 46.48M | 46.48M | 81.59M | 57.1M | 57.1M |
| Days Payables Outstanding | 64.37 | 55.27 | 31.65 | 31.65 | 48.78 | 29.55 | 29.55 |
| Short-Term Debt | 8.36M | 4.14M | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 183.1M | 53.76M | 102.52M | 102.52M | 115.78M | 117.17M | 117.17M |
| Other Current Liabilities | 60.4M | 34.5M | 13.76M | 13.76M | 13.07M | 153M | 153M |
| Current Ratio | 1.00x | 0.89x | 0.61x | 0.61x | 0.95x | 0.66x | 0.66x |
| Quick Ratio | 1.00x | 0.89x | 0.61x | 0.61x | 0.95x | 0.66x | 0.66x |
| Cash Conversion Cycle | 51.27 | - | - | - | - | - | - |
| Total Non-Current Liabilities | 90.28M | 79.29M | 38.27M | 38.27M | 84.91M | 56.31M | 56.31M |
| Long-Term Debt | 69.95M | 60.32M | 9.48M | 9.48M | 29.63M | 0 | 0 |
| Capital Lease Obligations | 47.09M | 11.91M | 15.99M | 15.99M | 15.04M | 11.9M | 11.9M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 17.25M | 19.3M | 19.3M |
| Other Non-Current Liabilities | 9.28M | 6.61M | 12.7M | 12.7M | 19.77M | 11.04M | 11.04M |
| Total Liabilities | 275.26M | 275.4M | 268.54M | 268.54M | 356.16M | 444.98M | 444.98M |
| Total Debt | 88.97M | 76.37M | 25.46M | 25.46M | 44.67M | 11.9M | 11.9M |
| Net Debt | 70.88M | 56.4M | -8.27M | -8.27M | -18.27M | -61.27M | -61.27M |
| Debt / Equity | -1.77x | - | - | - | 0.63x | 0.25x | 0.25x |
| Debt / EBITDA | 54.58x | - | - | - | 2.54x | - | - |
| Net Debt / EBITDA | 43.48x | - | - | - | -1.04x | - | - |
| Interest Coverage | -0.93x | -2.82x | -22.17x | -22.17x | -0.00x | - | - |
| Total Equity | -50.32M | -56.64M | -34.67M | -34.67M | 70.49M | 47.02M | 47.02M |
| Equity Growth % | -5618.65% | -63.35% | 0% | -149.19% | 49.91% | - | - |
| Book Value per Share | -1.31 | -1.64 | -1.14 | -1.14 | 3.15 | 1.78 | 1.78 |
| Total Shareholders' Equity | -50.32M | -56.64M | -34.52M | -34.52M | 71.24M | 46.59M | 46.59M |
| Common Stock | 414K | 360K | 343K | 343K | 255K | 80K | 80K |
| Retained Earnings | -113.16M | -103.8M | -78.21M | -78.21M | 46.54M | 45.32M | 45.32M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | -159K | -159K | -747K | 433K | 433K |
Quick answers to the most common questions about buying SHIM stock.
As of 2027, Shimmick Corp. (SHIM) had total assets of $218.8M including $175.4M in current assets.
Shimmick Corp. (SHIM) carries total debt of $76.4M, offset by $20.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Shimmick Corp. (SHIM) has total shareholders' equity (book value) of $-56.6M ($-1.64 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Shimmick Corp. (SHIM) reported a current ratio of 0.89x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Insolvency and liquidity constraints
Metrics are mathematically derived from official filings.
Equity Erosion Signals Structural Distress
As reported in recent financial filings, Shimmick’s equity position has deteriorated into a deficit of $60.5 million by 2027Q1, reflecting a persistent trend of capital depletion that underscores the company's ongoing struggle to achieve operational viability as an independent entity following its divestiture from AECOM.
The consistent decline in retained earnings, which reached negative $108.3 million in the most recent quarter, suggests that the company is failing to generate sufficient returns to offset its operational losses. This trajectory indicates that the balance sheet is weakening, potentially limiting the firm's ability to secure necessary bonding for future large-scale infrastructure projects.
Tight Liquidity Limits Operational Flexibility
Based on the company's reported figures, the current ratio has remained consistently below 1.0, reaching 0.90 in 2027Q1, which indicates that Shimmick maintains a precarious liquidity buffer that may be insufficient to absorb unexpected project delays or cost overruns in its heavy civil construction portfolio.
With cash reserves hovering at $15.0 million, the company appears to have very little room for error in its working capital management. Investors should monitor whether this tight liquidity forces the firm to rely on more expensive or dilutive financing options to maintain its ongoing project commitments.
Asset Base Reflects Operational Contraction
According to recent balance sheet data, total assets have declined from $426.7 million in 2024Q4 to $202.3 million in 2027Q1, suggesting a significant reduction in the firm's operational footprint and a potential liquidation of resources to cover ongoing cash burn and legacy contract liabilities.
The reduction in net PPE from $70.2 million to $26.1 million over the same period may indicate that the company is scaling back its equipment-heavy operations or failing to reinvest in its core infrastructure assets. This trend warrants further investigation into whether the firm is intentionally downsizing or simply losing its competitive capacity.
Negative Equity Masks Solvency Risks
As disclosed in the latest quarterly reports, the shift to a negative equity position of $60.5 million suggests that the company's liabilities now exceed its total assets, a condition that typically signals heightened insolvency risk and potential challenges in maintaining the bonding capacity required for government contracts.
While the company continues to operate, the persistent negative equity suggests that the business model is currently unable to create value for shareholders. This structural imbalance may necessitate a significant capital restructuring or a rapid turnaround in project profitability to avoid further deterioration of the firm's financial standing.