The company maintains a vulnerable capital structure with a debt-to-equity ratio of 6.48 and a tightened current ratio of 0.91 as of 2026Q1.
Vroom, Inc. (VRM) balance sheet — 8-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 |
|---|
| Total Current Assets | 87.2M | 887.81M | 914.48M | 952.64M | 1.22B | 2.1B | 1.6B | 465.33M | 297.48M |
| Cash & Short-Term Investments | 16.36M | 10.38M | 29.34M | 140.07M | 419.51M | 1.13B | 1.06B | 217.73M | 161.66M |
| Cash Only | 16.36M | 10.38M | 29.34M | 135.59M | 398.92M | 1.13B | 1.06B | 217.73M | 161.66M |
| Short-Term Investments | 0 | 0 | 0 | 4.49M | 20.59M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 819.58M | 821.47M | 836.11M | 525.19M | 348.53M | 105.43M | 60.58M | 30.85M | 13.21M |
| Days Sales Outstanding | 2.84K | 2.67K | 26.29K | 214.61 | 65.27 | 12.09 | 16.29 | 9.45 | 5.64 |
| Inventory | 0 | 0 | 0 | 163.25M | 320.65M | 726.38M | 423.65M | 205.75M | 115.55M |
| Days Inventory Outstanding | - | - | - | 81.48 | 68.68 | 88.91 | 120.23 | 66.23 | 53.08 |
| Other Current Assets | -748.74M | 55.96M | 49.03M | 75.53M | 131.42M | 83.35M | 33.83M | 2.15M | 1.95M |
| Total Non-Current Assets | 854.14M | 49.57M | 151.28M | 522.78M | 398.92M | 264.46M | 126.18M | 98.06M | 95.36M |
| Property, Plant & Equipment | 12.96M | 12.54M | 10.94M | 31.2M | 73.77M | 52.4M | 32.23M | 7.83M | 7.67M |
| Fixed Asset Turnover | 8.43x | 8.96x | 1.06x | 28.63x | 26.42x | 60.77x | 42.13x | 152.25x | 111.49x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 158.82M | 78.17M | 78.17M | 78.17M |
| Intangible Assets | 11.42M | 12.37M | 104.87M | 131.89M | 158.91M | 28.21M | 34K | 572K | 3.94M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 140.24M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 829.76M | 24.66M | 35.47M | 359.7M | 26M | 25.03M | 15.74M | 11.48M | 5.57M |
| Total Assets | 941.35M | 937.38M | 1.07B | 1.48B | 1.62B | 2.37B | 1.72B | 563.39M | 392.84M |
| Asset Turnover | 0.11x | 0.12x | 0.01x | 0.61x | 1.20x | 1.35x | 0.79x | 2.12x | 2.18x |
| Asset Growth % | -36.84% | -12.12% | -27.7% | -8.87% | -31.59% | 37.28% | 206.02% | 43.41% | - |
| Total Current Liabilities | 40M | 344.86M | 376.96M | 856.81M | 703.32M | 827.26M | 482.71M | 259.83M | 152.29M |
| Accounts Payable | 0 | 0 | 0 | 26.76M | 34.7M | 52.65M | 32.92M | 18.99M | 14.82M |
| Days Payables Outstanding | - | - | - | 13.36 | 7.43 | 6.44 | 9.34 | 6.11 | 6.81 |
| Short-Term Debt | 40M | 337.15M | 359.91M | 744.86M | 553.75M | 512.8M | 329.23M | 173.6M | 103.87M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 14.03M | 10.65M | 75.8M | 24.82M | 17.32M | 6.42M |
| Other Current Liabilities | -638K | 124K | 12.14M | 59M | 48.59M | 42.69M | 10.94M | 46.54M | 24.3M |
| Current Ratio | 2.18x | 2.57x | 2.43x | 1.11x | 1.73x | 2.54x | 3.31x | 1.79x | 1.95x |
| Quick Ratio | 2.18x | 2.57x | 2.43x | 0.92x | 1.28x | 1.66x | 2.43x | 1.00x | 1.19x |
| Cash Conversion Cycle | 2.84K | - | - | 282.74 | 126.52 | 94.55 | 127.17 | 69.56 | 51.9 |
| Total Non-Current Liabilities | 780.33M | 475.9M | 720.68M | 688.49M | 440.47M | 624.3M | 14.24M | 877.4M | 537.41M |
| Long-Term Debt | 730.14M | 433.2M | 381.37M | 454.17M | 402.15M | 610.62M | 0 | 181K | 16.05M |
| Capital Lease Obligations | 35.91M | 9.14M | 11.06M | 25.18M | 20.13M | 9.59M | 12.09M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 41.71M | 33.57M | 328.25M | 209.13M | 18.18M | 4.09M | 2.15M | 877.22M | 521.37M |
| Total Liabilities | 820.33M | 820.77M | 1.1B | 1.35B | 1.14B | 1.45B | 496.95M | 1.14B | 689.71M |
| Total Debt | 778.62M | 779.49M | 752.34M | 1.23B | 985.76M | 1.14B | 347.38M | 173.78M | 119.91M |
| Net Debt | 762.26M | 769.11M | 723M | 1.1B | 586.84M | 7.58M | -708.84M | -43.96M | -41.74M |
| Debt / Equity | 6.43x | 6.68x | - | 10.09x | 2.07x | 1.25x | 0.28x | - | - |
| Debt / EBITDA | -46.46x | 169.90x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -45.48x | 167.64x | - | - | - | - | - | - | - |
| Interest Coverage | 0.44x | 0.84x | -1.11x | -4.49x | -10.59x | -15.87x | -19.99x | -8.85x | -8.98x |
| Total Equity | 121.01M | 116.62M | -30.95M | 122.15M | 475.24M | 915.19M | 1.23B | -573.85M | -296.87M |
| Equity Growth % | 3022.19% | 476.86% | -125.33% | -74.3% | -48.07% | -25.42% | 313.84% | -93.3% | - |
| Book Value per Share | 23.21 | 22.43 | -17.07 | 70.08 | 275.69 | 536.65 | 1338.43 | -5334.44 | -2780.69 |
| Total Shareholders' Equity | 99.79M | 116.62M | -30.95M | 122.15M | 475.24M | 915.19M | 1.23B | -573.85M | -296.87M |
| Common Stock | 5K | 5K | 2K | 2K | 2K | 135K | 132K | 4K | 4K |
| Retained Earnings | -72.74M | -53.05M | -2.13B | -1.96B | -1.6B | -1.15B | -777.87M | -573.86M | -296.87M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -874.34M | -7.26M |
| Minority Interest | 21.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying VRM stock.
As of 2025, Vroom, Inc. (VRM) had total assets of $937.4M including $887.8M in current assets.
Vroom, Inc. (VRM) carries total debt of $779.5M, offset by $10.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vroom, Inc. (VRM) has total shareholders' equity (book value) of $116.6M ($22.43 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vroom, Inc. (VRM) reported a current ratio of 2.57x. 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
Subprime credit default exposure
Metrics are mathematically derived from official filings.
Balance Sheet Contraction Following Pivot
As reported in quarterly filings, Vroom's total assets have declined from $1.5B in 2023Q4 to $937.8M in 2026Q1, reflecting a deliberate downsizing of the balance sheet as the company sheds its capital-intensive retail infrastructure to focus on its core finance and data service segments.
The reduction in asset scale appears to be a direct consequence of the strategic exit from used vehicle retail operations. While this contraction is necessary to stop the bleeding of capital, it leaves the company with a significantly smaller asset base to support its remaining fintech and data-driven business model.
High Leverage Amid Structural Transition
Based on the latest financial data, Vroom maintains a debt-to-equity ratio of 6.48 as of 2026Q1, indicating that the company remains heavily reliant on debt financing despite the significant reduction in its overall operational footprint and the abandonment of its legacy retail business model.
The persistent reliance on debt, with $774.8M in total debt outstanding, suggests that the company's capital structure remains strained. Investors should monitor whether the interest expense associated with this debt load can be serviced by the cash flows generated from the UACC finance segment alone.
Tight Liquidity Buffers Post-Restructuring
According to recent balance sheet disclosures, Vroom's current ratio has tightened to 0.91 in 2026Q1, down from 1.11 in 2023Q4, signaling a precarious liquidity position that leaves the firm with limited flexibility to absorb unexpected shocks in its subprime credit portfolio.
The decline in the current ratio suggests that the company's ability to cover short-term obligations has diminished as it has moved through its restructuring phase. With cash reserves at only $14.5M, the company appears to have little room for error in managing its working capital requirements.
Erosion of Shareholder Equity Base
As noted in historical financial statements, Vroom's equity has been severely impacted by persistent losses, falling from $122.2M in 2023Q4 to $98.4M in 2026Q1, a trend driven by the accumulation of significant retained earnings deficits during the company's failed retail expansion efforts.
The negative retained earnings balance of $72.7M underscores the value destruction that occurred during the company's previous strategic cycle. The current equity base appears fragile, and any further operational missteps could potentially lead to a rapid depletion of the remaining book value.
Hidden Risks in Asset Quality
Based on the provided data, the company's asset composition is increasingly dominated by financial instruments rather than physical inventory, which introduces significant valuation risk related to the underlying credit quality of the UACC loan portfolio as reported in recent SEC filings.
While the shift away from physical inventory reduces the risk of obsolescence, it replaces it with credit risk that is highly sensitive to macroeconomic conditions. The lack of transparency regarding the specific quality of these loans warrants further investigation into potential future impairment charges.