The capital structure is heavily supported by equity issuance, with total assets growing to $392.3M by 2026Q3 while retained earnings remain deeply negative at -$89.3M.
| Metric | TTM | Dec'24 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | 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 | Dec'01 | Dec'01 |
|---|
| Total Current Assets | 147.22M | 33.29M | 62.05M | 131.8M | 102.29M | 22.89M | 4.47M | 7.19M | 14.65M | 4.2K | 10.25K | 5.22K | 159.88K | 221.05K | 117.5K | 754.44K | 440.96K | 183.5K | 1.98M | 2.23M | 1.95M | 1.27M | 885.23K | 531.79K | 369.91K | 369.91K |
| Cash & Short-Term Investments | 142.64M | 31.68M | 59.61M | 129.06M | 100.16M | 22.57M | 4.14M | 6.85M | 13.51M | 3.43K | 8.94K | 2.42K | 4.63K | 4.6K | 26.52K | 707.18K | 82.73K | 11.68K | 1.82M | 1.81M | 1.53M | 980.99K | 767.31K | 397.92K | 344.91K | 344.91K |
| Cash Only | 142.64M | 31.68M | 59.61M | 129.06M | 100.16M | 22.57M | 4.14M | 6.85M | 13.51M | 3.43K | 8.94K | 2.42K | 4.63K | 4.6K | 26.52K | 707.18K | 82.73K | 11.68K | 1.82M | 1.81M | 1.53M | 980.99K | 767.31K | 397.92K | 344.91K | 344.91K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.01M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 1.27M | 1.15M | 353.15K | 880.85K | 112.42K | 44.91K | 41.29K | 0 | 764 | 1.13K | 203 | 152.11K | 1.91K | 73.72K | 47.25K | 114.14K | 165.19K | 168.72K | 155.3K | 162.91K | 288.37K | 117.91K | 133.87K | 59.6K | 0 |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | 5.71 | 220.65 | 34.95 | 40.13 | 109.59 | 106.09 | 97.66 | 96.88 | 174.41 | 137.84 | 156.48 | 1.71K | - |
| Inventory | 0 | 0 | -500.15K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -766 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 4.58M | 335.8K | -65.74K | 416.85K | 0 | 0 | 0 | -6.82K | 105.44K | 0 | 949 | 0 | 0 | 211.41K | 0 | 0 | 205.5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -59.6K | 0 |
| Total Non-Current Assets | 245.03M | 226.06M | 111.45M | 51.84M | 40.23M | 36.86M | 53.29M | 37.2M | 16.27M | 0 | 0 | 0 | 0 | 18.49K | 13.5K | 72.05K | 1.16M | 1.77M | 454.32K | 199.61K | 312.53K | 415.6K | 602.43K | 777.45K | 0 | 0 |
| Property, Plant & Equipment | 1.19M | 2.11M | 48.13M | 103.95M | 36.5M | 35.43M | 51.33M | 35.2M | 16.19M | 3.99M | 0 | 0 | 0 | 18.49K | 13.5K | 35.62K | 1.12M | 1.62M | 188.91K | 199.61K | 312.53K | 415.6K | 538.13K | 777.45K | 778.44K | 0 |
| Fixed Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - | - | - | - | 6.60x | 9.03x | 13.86x | 0.93x | 0.34x | 3.07x | 2.91x | 1.96x | 1.45x | 0.58x | 0.40x | 0.02x | - |
| Goodwill | 0 | 0 | 363.57K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 938.08K | 942.44K | 983.43K | 1.43M | 1.16M | 1.36M | 1.88M | 1.91M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 897.9M | 196.51M | 196.19M | 3.31M | 2.5M | 0 | 0 | 82K | 0 | 542.45K | 0 | 0 | 0 | 0 | 0 | 36.44K | 36.44K | 142.1K | 262.08K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 52.17K | 26.49M | -134.22M | -59.52M | 72.17K | 62.63K | 85.39K | 82K | 82.51K | -4.53M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.33K | 0 | 0 | 0 | 0 | 0 | -778.44K | 0 |
| Total Assets | 392.25M | 259.34M | 173.5M | 183.65M | 142.52M | 59.74M | 57.76M | 44.39M | 30.92M | 4.2K | 10.25K | 5.22K | 159.88K | 159.05K | 131K | 826.49K | 1.6M | 1.95M | 2.44M | 2.43M | 2.26M | 1.68M | 1.49M | 1.31M | 369.91K | 369.91K |
| Asset Turnover | 0.00x | - | - | - | - | - | - | - | - | - | - | - | - | 0.77x | 0.93x | 0.60x | 0.65x | 0.28x | 0.24x | 0.24x | 0.27x | 0.36x | 0.21x | 0.24x | 0.03x | 0.03x |
| Asset Growth % | 46.58% | 49.48% | -5.53% | 28.85% | 138.56% | 3.43% | 30.12% | 43.57% | 736630.59% | -59.07% | 96.47% | -96.74% | 0.52% | 21.42% | -84.15% | -48.27% | -18.01% | -20.08% | 0.48% | 7.19% | 34.36% | 13.26% | 13.63% | 253.94% | - | - |
| Total Current Liabilities | 7.3M | 5.77M | 13.25M | 6.78M | 5.26M | 1.94M | 7.07M | 5.62M | 683.41K | 444.02K | 327.5K | 403.77K | 174.03K | 149.65K | 78.45K | 395.7K | 49.27K | 109.02K | 440.18K | 255.89K | 162.28K | 40.25K | 19.43K | 16.66K | 32.93K | 32.93K |
| Accounts Payable | 0 | 0 | 8.21M | 5.52M | 0 | 0 | 6.87M | 5.45M | 530.85K | 404.02K | 56.96K | 73.9K | 137.9K | 137.18K | 77.55K | 51.29K | 49.27K | 32.44K | 19.2K | 0 | 112 | 17.45K | 19.43K | 16.66K | 32.93K | 32.93K |
| Days Payables Outstanding | - | - | 186.78 | 171 | - | - | 16.81K | 34.88K | - | - | - | - | - | 1.98K | 1.12K | 45.3 | 70.4 | 46.35 | 109.36 | - | 0.92 | 145.14 | 214.26 | 183.76 | - | - |
| Short-Term Debt | 173.57K | 270.84K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 250K | 216.57K | 216.57K | 5.03K | 5K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.49K | 0 | -12.81K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 7.13M | 5.5M | -2.81M | 1.08M | 5.12M | 1.94M | 200.81K | 161.84K | 152.56K | -210K | 58.45K | 33.06K | 43.02K | 6.57K | 0 | 0 | 0 | 74.21K | 420.97K | 255.89K | 162.16K | 22.8K | 0 | 0 | 0 | 0 |
| Current Ratio | 20.17x | 5.77x | 4.68x | 19.44x | 19.44x | 11.78x | 0.63x | 1.28x | 21.43x | 0.01x | 0.03x | 0.01x | 0.92x | 1.48x | 1.50x | 1.91x | 8.95x | 1.68x | 4.51x | 8.70x | 12.02x | 31.54x | 45.57x | 31.92x | 11.23x | 11.23x |
| Quick Ratio | 20.17x | 5.77x | 4.72x | 19.44x | 19.44x | 11.78x | 0.63x | 1.28x | 21.43x | 0.01x | 0.03x | 0.01x | 0.92x | 1.48x | 1.50x | 1.91x | 8.95x | 1.68x | 4.51x | 8.70x | 12.02x | 31.54x | 45.57x | 31.92x | 11.23x | 11.23x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 21.24M | 25.65M | 872K | 337K | 261.54K | 99.96K | 5.09M | 398.45K | 0 | 693.17K | 103K | 327.5K | 310.45K | 7.89K | 7.46K | 5.74K | 24.4K | 24.45K | 4.47K | 4.28K | 3.91K | 19.34K | 11.15K | 21.81K | 23.77K | 32.93K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 4.96M | 398.45K | 0 | 693.17K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 403.06K | 205.88K | 739K | 208K | 161.42K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 90.23M | 24.87M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 604.98K | 571.66K | 133K | 129K | 100.11K | 99.96K | 136.28K | 0 | 0 | 0 | 0 | 0 | 0 | 7.89K | 7.46K | 5.74K | 24.4K | 24.45K | 4.47K | 4.28K | 3.91K | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 28.54M | 31.42M | 14.12M | 7.12M | 5.52M | 2.04M | 12.17M | 6.01M | 683.41K | 1.14M | 327.5K | 327.5K | 174.03K | 173.14K | 85.91K | 401.43K | 73.67K | 133.47K | 444.64K | 260.17K | 166.19K | 40.25K | 19.43K | 16.66K | 32.93K | 32.93K |
| Total Debt | 212.7K | 476.71K | 1.25M | 390K | 302.67K | 0 | 4.96M | 398.45K | 0 | 250K | 216.57K | 216.57K | 5.03K | 5K | 0 | 9.8B | 0 | 0 | 6B | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | -142.43M | -31.2M | -58.36M | -128.68M | -99.86M | -22.57M | 814.01K | -6.45M | -13.51M | 406.97K | 207.64K | 214.16K | 399 | 397 | -26.52K | 9.8B | -82.73K | -11.68K | 6B | -1.81M | -1.53M | -980.99K | -767.31K | -397.92K | -344.91K | -344.91K |
| Debt / Equity | 0.00x | 0.00x | 0.01x | 0.00x | 0.00x | - | 0.11x | 0.01x | - | - | - | - | - | - | - | 58331.60x | - | - | 3009.53x | - | - | - | - | - | - | - |
| Debt / EBITDA | 0.01x | - | - | - | - | - | - | 0.05x | - | - | - | - | - | - | - | - | - | - | 19921.05x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -5.47x | - | - | - | - | - | - | -0.76x | - | - | - | - | - | - | - | - | -0.19x | -0.08x | 19915.02x | -4.94x | -5.74x | -51.40x | -1.99x | - | - | - |
| Interest Coverage | -1976.15x | -432.67x | -1060.26x | -854.76x | -1378.13x | -57.86x | -183.34x | -15727.68x | -16.10x | -1.04x | -2.86x | -5.84x | -4.32x | -3.11x | -7.67x | -6.35x | 3.99x | - | - | - | - | - | - | - | - | - |
| Total Equity | 363.71M | 227.92M | 159.38M | 176.53M | 137M | 57.7M | 45.6M | 38.38M | 30.24M | -453.26K | -453.26K | -317.25K | -35.44K | -14.08K | 45.09K | 168K | 1.52M | 1.82M | 1.99M | 2.17M | 2.1M | 1.64M | 1.47M | 1.29M | 336.98K | 336.98K |
| Equity Growth % | 56.31% | 43.01% | -9.72% | 28.85% | 137.44% | 26.54% | 18.81% | 26.92% | 6771% | 0% | -42.87% | -795.29% | -151.63% | -131.23% | -73.16% | -88.98% | -16.03% | -8.95% | -7.97% | 3.28% | 27.54% | 12.02% | 13.59% | 283.58% | - | - |
| Book Value per Share | 1.50 | 1.23 | 0.89 | 1.05 | 0.88 | 0.48 | 0.51 | 0.49 | 0.57 | -0.06 | -0.20 | -0.15 | -0.02 | -0.01 | 0.03 | 0.12 | 1.10 | 1.31 | 1.44 | 1.57 | 1.52 | 1.20 | 1.12 | 1.20 | 0.52 | 0.52 |
| Total Shareholders' Equity | 363.71M | 227.92M | 159.38M | 176.53M | 137M | 57.7M | 45.6M | 38.38M | 30.24M | -453.26K | -453.26K | -317.25K | -35.44K | -14.08K | 45.09K | 168K | 1.52M | 1.82M | 1.99M | 2.17M | 2.1M | 1.64M | 1.47M | 1.29M | 336.98K | 336.98K |
| Common Stock | 421.04M | 235.64M | 272.42M | 262.05M | 203.37M | 99.2M | 70.99M | 57.88M | 45.19M | 591.84K | 591.84K | 591.84K | 525.17K | 462.67K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -89.28M | -37.83M | -148.71M | -106.72M | -82.82M | -55.34M | -43.18M | -33.66M | -25.08M | -1.07M | -1.07M | -1M | -654.59K | -563.02K | -460.92K | 105.22K | 9.18K | 300.24K | 478.73K | 651.5K | 582.71K | 129.77K | -14.41K | -113.56K | -263.16K | -263.16K |
| Treasury Stock | 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 | 0 |
| Accumulated OCI | 31.95M | 30.11M | 35.66M | 21.2M | 16.45M | 13.84M | 17.79M | 13.68M | 10.13M | 25.55K | 25.55K | 93.98K | 93.98K | 86.27K | 43.34K | 0 | -141M | -127M | -70M | 0 | 0 | 0 | 0 | 0 | 0 | 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 | 0 |
Capital intensive project execution
As reported in financial statements, total assets grew from $125.7M in 2024Q1 to $392.3M by 2026Q3, reflecting a significant accumulation of capital intended to fund development, though this trajectory remains heavily dependent on external financing rather than internal value creation.
The expansion of the asset base appears to be driven by capital raises rather than operational success, as the company remains pre-revenue. Investors should monitor whether this asset growth translates into tangible project milestones or if it merely reflects the ongoing capitalization of development costs that may face impairment risk.
Based on recent SEC filings, the company's cash position surged to $142.6M in 2026Q3, providing a temporary liquidity buffer that significantly improves the current ratio to 20.17, yet this liquidity remains highly sensitive to the high burn rates inherent in pilot-scale lithium extraction.
While the current liquidity position appears robust compared to historical lows, the lack of operational cash flow suggests this capital is a finite resource for reaching a final investment decision. The dramatic improvement in the current ratio may be misleading if the company does not secure long-term project financing before these reserves are exhausted.
According to the provided balance sheet data, net PPE has declined from $93.3M in 2024Q1 to $1.2M in 2026Q3, indicating a shift away from physical infrastructure ownership toward a model that relies heavily on intangible assets and capitalized exploration costs.
The sharp reduction in net PPE warrants further investigation, as it may suggest a pivot in strategy or the disposal of pilot-scale assets that are no longer central to the commercialization plan. This asset-light profile increases the reliance on proprietary technology, which carries significant execution risk if the DLE process fails to scale.
As evidenced by the historical balance sheet, the accumulation of $363.7M in equity against persistent negative retained earnings of $89.3M suggests that the company's book value is heavily supported by equity issuance rather than retained profits from operations.
The reliance on equity financing to sustain the balance sheet creates a persistent dilution risk for existing shareholders. Analysts should be wary that the book value may not reflect the economic reality of the project's viability, especially if the cost of capital continues to rise and impacts the net present value of future lithium production.
Quick answers to the most common questions about buying SLI stock.
As of 2025, Standard Lithium Ltd. (SLI) had total assets of $259.3M including $33.3M in current assets.
Standard Lithium Ltd. (SLI) carries total debt of $0.5M, offset by $31.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Standard Lithium Ltd. (SLI) has total shareholders' equity (book value) of $227.9M ($1.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Standard Lithium Ltd. (SLI) reported a current ratio of 5.77x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.