The company maintains a robust liquidity position with a current ratio of 5.09 and minimal leverage, characterized by a debt-to-equity ratio of only 0.03 as of 2026Q1.
Via Transportation, Inc. (VIA) balance sheet — 3-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 |
|---|
| Total Current Assets | 458.21M | 469.55M | 162.3M | 142.72M |
| Cash & Short-Term Investments | 335.92M | 370.91M | 77.91M | 71.74M |
| Cash Only | 335.92M | 370.91M | 77.91M | 71.74M |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 104.68M | 81.57M | 73.76M | 59.4M |
| Days Sales Outstanding | 67.82 | 68.55 | 79.74 | 87.12 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 17.61M | 17.07M | 10.64M | 11.58M |
| Total Non-Current Assets | 260.14M | 263.54M | 225.53M | 225.23M |
| Property, Plant & Equipment | 33.14M | 31.71M | 26.38M | 27.26M |
| Fixed Asset Turnover | 15.42x | 13.70x | 12.80x | 9.13x |
| Goodwill | 190.72M | 192.31M | 160.13M | 161.82M |
| Intangible Assets | 32.97M | 36.02M | 26.32M | 32.31M |
| Long-Term Investments | 3.52M | 1.17M | 1.08M | 0 |
| Other Non-Current Assets | 2.92M | 1.8M | 2.14M | 3.21M |
| Total Assets | 718.35M | 733.1M | 387.83M | 367.94M |
| Asset Turnover | 0.68x | 0.59x | 0.87x | 0.68x |
| Asset Growth % | 173.64% | 89.02% | 5.4% | - |
| Total Current Liabilities | 90.8M | 94.23M | 76.55M | 75.58M |
| Accounts Payable | 6.04M | 4.43M | 3.92M | 6.85M |
| Days Payables Outstanding | 7.18 | 6.15 | 6.91 | 16.73 |
| Short-Term Debt | 0 | 9.75M | 8.31M | 0 |
| Deferred Revenue (Current) | 97.76M | 26.89M | 22.64M | 22.23M |
| Other Current Liabilities | 12.93M | 40.03M | 30.03M | 11.17M |
| Current Ratio | 5.05x | 4.98x | 2.12x | 1.89x |
| Quick Ratio | 5.05x | 4.98x | 2.12x | 1.89x |
| Cash Conversion Cycle | 60.65 | - | - | - |
| Total Non-Current Liabilities | 9.24M | 11.12M | 1.3B | 1.21B |
| Long-Term Debt | 0 | 9.38M | 1.26B | 0 |
| Capital Lease Obligations | 35.23M | 9.38M | 7.26M | 10.95M |
| Deferred Tax Liabilities | 0 | 0 | 9.06M | 0 |
| Other Non-Current Liabilities | 0 | -9.38M | 18.82M | 1.2B |
| Total Liabilities | 100.04M | 105.36M | 1.38B | 1.29B |
| Total Debt | 18.02M | 28.5M | 1.28B | 17.83M |
| Net Debt | -317.89M | -342.41M | 1.2B | -53.91M |
| Debt / Equity | 0.03x | 0.05x | - | - |
| Debt / EBITDA | -0.23x | - | - | - |
| Net Debt / EBITDA | 4.01x | - | - | - |
| Interest Coverage | -31.00x | -11.78x | -19.66x | -175.34x |
| Total Equity | 618.31M | 627.74M | -987.86M | -918.57M |
| Equity Growth % | 325.15% | 163.55% | -7.54% | - |
| Book Value per Share | 7.60 | 7.82 | -13.76 | -12.75 |
| Total Shareholders' Equity | 618.31M | 627.74M | -987.09M | -918.08M |
| Common Stock | 1K | 1K | 0 | 0 |
| Retained Earnings | -1.23B | -1.19B | -1.09B | -1B |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 4.71M | 7.7M | -1.58M | 1.21M |
| Minority Interest | 0 | 0 | -763K | -492K |
Quick answers to the most common questions about buying VIA stock.
As of 2025, Via Transportation, Inc. (VIA) had total assets of $733.1M including $469.6M in current assets.
Via Transportation, Inc. (VIA) carries total debt of $28.5M, offset by $370.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Via Transportation, Inc. (VIA) has total shareholders' equity (book value) of $627.7M ($7.82 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Via Transportation, Inc. (VIA) reported a current ratio of 4.98x. 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
Operating Margin Scalability
Metrics are mathematically derived from official filings.
Stabilizing Capital Structure Post-Restructuring
As reported in financial statements, Via’s total assets reached $723.3M in 2026Q1, reflecting a significant recovery from the 2025Q2 period where the company faced a temporary insolvency event, suggesting that recent capital injections have successfully stabilized the firm's trajectory toward a more sustainable long-term growth profile.
The dramatic shift from a negative equity position in 2025Q2 to a $622.1M equity base in 2026Q1 indicates a successful recapitalization effort. This transition suggests that the company has moved past its most acute liquidity crisis, though the persistent negative retained earnings of $1.2B highlight that the business model remains in a deep investment phase.
Robust Liquidity Buffer Supports Operations
According to recent SEC filings, Via maintains a current ratio of 5.09 as of 2026Q1, providing a substantial liquidity buffer that appears sufficient to cover near-term operational burn rates while the company continues to scale its municipal TransitTech partnerships across diverse urban markets.
A current ratio exceeding 5.0 indicates that the company is well-positioned to meet its short-term obligations without immediate reliance on external financing. Investors should monitor whether this liquidity is deployed efficiently into high-margin software development or if it remains tied up in the working capital requirements of lower-margin fleet operations.
Intangible Assets Dominate Asset Mix
Based on the reported figures, goodwill accounts for $191.0M of the $723.3M total asset base in 2026Q1, which implies that a significant portion of the company's valuation is tied to past acquisitions rather than physical infrastructure or tangible equipment.
The reliance on goodwill suggests that Via’s competitive moat is built upon integrated software platforms acquired over time. Analysts should remain cautious regarding potential impairment risks, as the value of these intangibles is inherently linked to the company's ability to successfully retain and expand its municipal contract base.
Minimal Leverage Enhances Financial Flexibility
As evidenced by the 0.03 debt-to-equity ratio in 2026Q1, Via operates with negligible leverage, indicating that the company has avoided debt-heavy financing strategies and remains almost entirely equity-funded, which provides a clean balance sheet for potential future strategic initiatives or capital market activities.
The low debt burden is a positive indicator of financial health, particularly given the company's current lack of profitability. This structure suggests that management has prioritized balance sheet resilience over financial leverage, which may be a prudent approach given the inherent volatility of the transit services industry.