Stem, Inc. (STEM) Balance Sheet

8Y historyFree accessUpdated daily

The company's financial position has deteriorated into a structural deficit, with total equity falling to -$265.9M and a current ratio of 0.84 as of 2026Q1.

Annual statement

STEM Balance Sheet

Stem, Inc. (STEM) balance sheet — 8-year assets, liabilities & shareholders' equity history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'19	Dec'18

Total Current Assets	89.33M	100.09M	136.62M	472.96M	532.75M	1.02B	49.28M	28.8M	159.67K
Cash & Short-Term Investments	38.41M	48.91M	56.3M	113.59M	249.98M	920.79M	6.94M	12.89M	159.67K
Cash Only	38.41M	48.91M	56.3M	105.38M	87.9M	747.78M	6.94M	12.89M	159.67K
Short-Term Investments	0	0	0	8.22M	162.07M	173.01M	0	0	0
Accounts Receivable	33.22M	38.41M	59.36M	302.92M	223.29M	61.91M	13.7M	6.62M	1.5M
Days Sales Outstanding	86.8	89.71	149.86	239.57	224.54	177.42	137.68	137.64	77.86
Inventory	6.12M	4.59M	10.92M	26.66M	8.37M	22.72M	20.84M	3.58M	2.01M
Days Inventory Outstanding	21.52	17.38	25.61	21.26	9.27	65.75	189.16	62.79	75.6
Other Current Assets	11.57M	3.35M	4.2M	23.66M	45.35M	15.29M	7.1M	4.84M	27.26M
Total Non-Current Assets	190.45M	208.8M	300.74M	884.01M	889.14M	167.98M	156.57M	159.25M	322.08K
Property, Plant & Equipment	10.6M	54.11M	73.51M	89.49M	105.35M	119.62M	124.11M	132.59M	103.17M
Fixed Asset Turnover	3.48x	2.89x	1.97x	5.16x	3.45x	1.06x	0.29x	0.13x	0.07x
Goodwill	2.46M	0	0	547.21M	546.65M	1.74M	1.74M	1.7M	1.63M
Intangible Assets	113.05M	123.03M	143.91M	157.15M	162.26M	13.97M	12.09M	10.7M	8.66M
Long-Term Investments	11.75M	2.27M	2.25M	2.09M	1.97M	1.92M	744K	843K	767K
Other Non-Current Assets	62.45M	29.38M	81.07M	88.08M	72.91M	30.73M	17.9M	13.43M	322.08K
Total Assets	279.77M	308.89M	437.36M	1.36B	1.42B	1.19B	205.85M	188.05M	481.75K
Asset Turnover	0.48x	0.51x	0.33x	0.34x	0.26x	0.11x	0.18x	0.09x	14.60x
Asset Growth %	-118.59%	-29.37%	-67.77%	-4.57%	19.3%	478.98%	9.47%	38934.15%	-
Total Current Liabilities	107.52M	110.56M	128.8M	251.08M	267M	87.97M	190.51M	109.35M	464.89K
Accounts Payable	14.47M	10.31M	30.15M	78.28M	83.83M	28.27M	13.75M	12.69M	0
Days Payables Outstanding	42.74	39.07	70.7	62.4	92.75	81.82	124.78	222.57	-
Short-Term Debt	13.15M	0	0	0	0	15.28M	101.27M	70.19M	175K
Deferred Revenue (Current)	173.89M	43.63M	43.26M	54M	64.31M	9.16M	36.94M	0	-4.89M
Other Current Liabilities	35.52M	17.6M	20.16M	24.58M	17.87M	275K	15.77M	12.94M	-13.75M
Current Ratio	0.83x	0.91x	1.06x	1.88x	2.00x	11.64x	0.26x	0.26x	0.34x
Quick Ratio	0.77x	0.86x	0.98x	1.78x	1.96x	11.38x	0.15x	0.23x	-3.97x
Cash Conversion Cycle	65.57	68.02	104.77	198.43	141.05	161.35	202.06	-22.14	-
Total Non-Current Liabilities	442.25M	447.38M	706.39M	679.22M	602.73M	436.04M	192.74M	97.14M	70.14M
Long-Term Debt	319.22M	312.39M	525.92M	523.63M	449.51M	318.23M	4.61M	81.21M	53.84M
Capital Lease Obligations	65.59M	9.86M	13.34M	10.46M	10.96M	12.18M	57K	390K	1.26M
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	7.32M	39.88M	81.23M	56.48M	68.49M	77.34M	172.61M	15.54M	15.03M
Total Liabilities	549.77M	557.95M	835.19M	930.3M	869.73M	524M	383.26M	206.49M	464.89K
Total Debt	366.45M	325.25M	542.02M	537.04M	463.05M	346.93M	106.28M	152.44M	175K
Net Debt	328.04M	276.33M	485.72M	431.66M	375.14M	-400.85M	99.33M	139.55M	15.33K
Debt / Equity	-1.36x	-	-	1.26x	0.84x	0.52x	-	-	10.38x
Debt / EBITDA	-53.19x	-	-	-	-	-	-	-	0.04x
Net Debt / EBITDA	-47.61x	-	-	-	-	-	-	-	0.00x
Interest Coverage	-1.40x	6.78x	-45.67x	-8.35x	-12.30x	-4.82x	-6.50x	-3.79x	-
Total Equity	-270.42M	-249.06M	-397.83M	426.68M	552.17M	667.83M	-177.41M	-18.44M	16.86K
Equity Growth %	78.52%	37.4%	-193.24%	-22.73%	-17.32%	476.43%	-862.19%	-	-
Book Value per Share	-29.68	-29.34	-49.28	54.85	71.98	126.53	-88.56	-7.69	0.01
Total Shareholders' Equity	-270M	-249.44M	-398.37M	426.2M	551.63M	667.83M	-177.41M	-18.44M	16.86K
Common Stock	1K	1K	16K	16K	15K	14K	4K	0	1.01K
Retained Earnings	-1.52B	-1.49B	-1.63B	-772.49M	-632.08M	-509.05M	-407.84M	-259.05M	-8.14K
Treasury Stock	0	0	0	0	0	0	0	0	0
Accumulated OCI	-141K	41K	76K	-42K	-1.67M	20K	-192K	54K	-220.63M
Minority Interest	-426K	383K	541K	485K	541K	0	0	0	0

Key Metrics

Growth RegimeContracting

ProfitabilityNegative

Balance SheetVulnerable

Cash FlowBurning

Top Statement Risk

Liquidity and solvency pressure

Verified Source

Metrics are mathematically derived from official filings.

SEC 10-K (2026Q1)

Balance Sheet Erosion Amid Contraction

As reported in recent financial statements, Stem's total assets have plummeted from $1.4 billion in 2023Q4 to $281.9 million by 2026Q1, signaling a rapid contraction in the company's resource base as it attempts to pivot its business model away from capital-intensive hardware deployments.

The consistent decline in total assets alongside a persistent negative equity position suggests that the company is consuming its capital base to fund ongoing operations. This trajectory implies that the firm's ability to support future growth initiatives is increasingly constrained by the depletion of its balance sheet strength.

Tightening Liquidity and Cash Runway

Based on the latest quarterly data, Stem's current ratio has deteriorated to 0.84 in 2026Q1, down from 1.88 in 2023Q4, indicating a significant reduction in the company's ability to cover short-term obligations with its existing liquid assets.

The decline in cash reserves to $36.6 million, coupled with a current ratio below parity, suggests that the company faces an increasingly narrow window to achieve operational self-sufficiency. Investors should monitor whether this liquidity profile necessitates further dilutive capital raises to sustain the current business transition.

Negative Equity Reflects Structural Deficit

According to historical balance sheet filings, Stem's equity position has shifted from a positive $426.2 million in 2023Q4 to a deficit of $265.9 million in 2026Q1, primarily driven by the accumulation of $1.5 billion in retained earnings losses.

The persistent negative equity indicates that the company has effectively exhausted its book value through years of operating losses. This structural deficit suggests that the firm's financial health is heavily dependent on external financing or a rapid turnaround in profitability, as there is no remaining equity buffer to absorb further operational shocks.

Goodwill Impairment and Asset Quality

As indicated by recent SEC filings, Stem's goodwill remains a significant component of its asset base at $117.3 million in 2026Q1, representing a substantial portion of total assets that may be subject to future impairment charges if the software pivot fails to deliver expected returns.

The presence of large intangible assets on a balance sheet characterized by negative equity warrants caution, as these values are highly sensitive to management's long-term growth assumptions. If the company's software-led strategy does not materialize as planned, these assets may require write-downs, further pressuring the already strained capital position.

STEM — Frequently Asked Questions

Quick answers to the most common questions about buying STEM stock.

What are the total assets of Stem, Inc. (STEM)?

As of 2025, Stem, Inc. (STEM) had total assets of $308.9M including $100.1M in current assets.

How much debt does Stem, Inc. (STEM) have?

Stem, Inc. (STEM) carries total debt of $325.2M, offset by $48.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of Stem, Inc.?

Stem, Inc. (STEM) has total shareholders' equity (book value) of $-249.4M ($-29.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is Stem, Inc.'s current ratio and liquidity?

Stem, Inc. (STEM) reported a current ratio of 0.91x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.