The company's capital structure is increasingly strained, with total debt surging to $37.6 billion in 2026Q1 and the current ratio compressing to 0.87, indicating tightening liquidity buffers.
| Total Current Assets | 3.22B | 4.04B | 4.56B | 5.96B | 1.41B |
| Cash & Short-Term Investments | 1.93B | 2.35B | 3.61B | 4.82B | 618M |
| Cash Only | 1.93B | 2.35B | 3.61B | 4.82B | 618M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 810M | 918M | 364M | 265M | 190M |
| Days Sales Outstanding | 17.89 | 24.34 | 26.72 | 12.25 | 10.76 |
| Inventory | 241M | 253M | 171M | 44M | 26M |
| Days Inventory Outstanding | 9.63 | 13.23 | 37.31 | 9.54 | 4.22 |
| Other Current Assets | 234M | 514M | 416M | 827M | 578M |
| Total Non-Current Assets | 53.08B | 49.41B | 38.93B | 22.5B | 13.69B |
| Property, Plant & Equipment | 50.48B | 47.33B | 35.28B | 19.82B | 10.93B |
| Fixed Asset Turnover | 0.34x | 0.29x | 0.14x | 0.40x | 0.59x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 4.3B | 0 | 327M | 539M | 0 |
| Other Non-Current Assets | 1.27B | 2.08B | 3.33B | 2.15B | 2.75B |
| Total Assets | 56.3B | 53.45B | 43.49B | 28.46B | 15.1B |
| Asset Turnover | 0.30x | 0.26x | 0.11x | 0.28x | 0.43x |
| Asset Growth % | 74.89% | 22.89% | 52.8% | 88.53% | - |
| Total Current Liabilities | 3.71B | 4.34B | 3.54B | 2.31B | 1.75B |
| Accounts Payable | 817M | 737M | 1.54B | 436M | 252M |
| Days Payables Outstanding | 33.01 | 38.53 | 335.11 | 94.5 | 40.86 |
| Short-Term Debt | 191M | 812M | 190M | 178M | 150M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.53B | 550M | 473M | 280M | 285M |
| Current Ratio | 0.87x | 0.93x | 1.29x | 2.57x | 0.81x |
| Quick Ratio | 0.80x | 0.87x | 1.24x | 2.56x | 0.79x |
| Cash Conversion Cycle | -5.48 | -0.97 | -271.08 | -72.72 | -25.89 |
| Total Non-Current Liabilities | 40.24B | 38.8B | 33.58B | 24.06B | 12.84B |
| Long-Term Debt | 36.46B | 33.39B | 29.09B | 20.61B | 10.46B |
| Capital Lease Obligations | 2.42B | 696M | 536M | 383M | 337M |
| Deferred Tax Liabilities | 8.68B | 2.32B | 1.64B | 1.15B | 474M |
| Other Non-Current Liabilities | 424M | 2.39B | 2.32B | 1.92B | 1.57B |
| Total Liabilities | 43.95B | 43.15B | 37.12B | 26.38B | 14.59B |
| Total Debt | 37.59B | 34.9B | 29.81B | 21.17B | 10.95B |
| Net Debt | 35.66B | 32.55B | 26.2B | 16.34B | 10.33B |
| Debt / Equity | 3.05x | 3.39x | 4.68x | 10.15x | 21.50x |
| Debt / EBITDA | 6.02x | 5.84x | 14.30x | 4.13x | 2.95x |
| Net Debt / EBITDA | 5.71x | 5.45x | 12.57x | 3.19x | 2.78x |
| Interest Coverage | 3.12x | 3.46x | 4.74x | 7.91x | 6.99x |
| Total Equity | 12.35B | 10.3B | 6.37B | 2.08B | 509M |
| Equity Growth % | 235.61% | 61.77% | 205.37% | 309.63% | - |
| Book Value per Share | 4.69 | 3.91 | 2.63 | 0.81 | 0.20 |
| Total Shareholders' Equity | 8.86B | 6.74B | 2.9B | 1.51B | -186M |
| Common Stock | 25M | 24M | 23M | 0 | 0 |
| Retained Earnings | 5.16B | 4.72B | 2.61B | 1.23B | 688M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -235M | -239M | -249M | -260M | -184M |
| Minority Interest | 3.48B | 3.56B | 3.47B | 575M | 695M |
High leverage and liquidity
Based on reported financial statements, Venture Global has aggressively scaled its total assets from $28.5 billion in 2023Q4 to $56.3 billion by 2026Q1, a trajectory that underscores the massive capital intensity required to support its modular liquefaction strategy despite significant ongoing balance sheet strain.
The rapid doubling of the asset base suggests a management team prioritizing rapid capacity deployment over balance sheet conservatism. Investors should monitor whether this asset growth translates into sustainable long-term cash flows or if it merely reflects the accumulation of high-cost, debt-financed infrastructure projects.
As indicated by recent filings, the company's total debt surged to $37.6 billion in 2026Q1, representing a significant shift from the $1.5 billion reported in 2025Q4, which suggests a reliance on external financing to fund its ongoing capital-intensive liquefaction terminal construction projects.
The dramatic fluctuation in debt levels indicates that the company is likely utilizing project-level financing that may be highly sensitive to interest rate environments. This leverage profile warrants further investigation into the maturity schedule and the potential for refinancing risks if global LNG market conditions deteriorate.
According to the provided balance sheet data, net PPE has grown to $50.5 billion as of 2026Q1, accounting for the vast majority of total assets, which highlights the company's asset-heavy business model and its dependence on the operational success of its modular liquefaction facilities.
The concentration of value in PPE suggests that the company's valuation is intrinsically tied to the physical performance and uptime of its liquefaction trains. Any technical or regulatory disruption to these assets could lead to significant impairment risks given the lack of diversification in the asset base.
Based on the latest quarterly figures, the current ratio has compressed to 0.87 in 2026Q1, down from 2.57 in 2023Q4, indicating that the company's ability to cover short-term obligations is increasingly constrained as it continues to burn cash to fund its massive infrastructure expansion.
A current ratio below 1.0 suggests that the company may face liquidity pressure if cash inflows from commissioning cargoes are delayed or if operational costs exceed expectations. Investors should monitor the cash runway closely, as the current buffer appears insufficient to support sustained, long-term capital requirements.
As reported in financial filings, the volatility in the debt-to-equity ratio, which swung from 10.15 in 2023Q4 to 0.13 in 2025Q4 before rising again, suggests that the headline leverage metrics may be distorted by the timing of debt consolidation and project-level financing structures.
This inconsistency implies that the company's true leverage may be masked by off-balance-sheet entities or non-recourse debt vehicles that are not fully captured in standard ratios. Analysts should be cautious of these distortions, as they may obscure the actual financial risk profile of the enterprise.
Quick answers to the most common questions about buying VG stock.
As of 2025, Venture Global, Inc. (VG) had total assets of $53.45B including $4.04B in current assets.
Venture Global, Inc. (VG) carries total debt of $34.90B, offset by $2.35B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Venture Global, Inc. (VG) has total shareholders' equity (book value) of $6.74B ($3.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Venture Global, Inc. (VG) reported a current ratio of 0.93x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.