Financial flexibility has improved through deleveraging, with total debt declining to $1.9 billion as of 2025Q2, supporting a healthy 3.65 current ratio.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 3.28B | 3.58B | 3.49B | 4.51B | 4.55B | 4.8B | 4.83B | 3.64B | 2.47B | 2.05B | 597.24M | 498.4M | 586.19M | 551.77M | 151.76M |
| Cash & Short-Term Investments | 2.11B | 2.41B | 2.35B | 3.23B | 3.17B | 3.13B | 3.5B | 2.4B | 1.83B | 1.79B | 395.95M | 335.88M | 449.88M | 498.78M | 122.75M |
| Cash Only | 1.16B | 2.3B | 1.89B | 2.58B | 2.69B | 2.42B | 1.81B | 1.45B | 1.23B | 1B | 364.77M | 237.44M | 283.46M | 246.44M | 2.91M |
| Short-Term Investments | 952.88M | 106.14M | 459.85M | 641.03M | 480.43M | 711.06M | 1.68B | 951.24M | 591.27M | 791.73M | 31.19M | 98.44M | 166.41M | 252.34M | 119.85M |
| Accounts Receivable | 829.49M | 1.09B | 1.02B | 1.17B | 1.25B | 1.58B | 1.24B | 1.12B | 478.95M | 186.46M | 134.62M | 120.23M | 121.74M | 47.3M | 25.93M |
| Days Sales Outstanding | 183.35 | 224.96 | 211.67 | 242.47 | 249.15 | 255.03 | 268.24 | 232.12 | 101.73 | 59.18 | 74.93 | 91.83 | 132.97 | 91.69 | 143.55 |
| Inventory | 0 | 0 | 0 | 14.19M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 4.48M | 2.35M |
| Days Inventory Outstanding | - | - | - | 13.84 | - | - | - | - | - | - | - | - | - | 27.32 | 18.47 |
| Other Current Assets | 339.4M | 85.85M | 76.28M | 61.19M | 82.46M | 73.48M | 56.65M | 53.98M | 154.98M | 36.79M | 28.44M | 4.13M | 7.85M | 1.95M | 1.51M |
| Total Non-Current Assets | 3.26B | 3.51B | 3.01B | 2.77B | 2.58B | 2.72B | 1.5B | 1.17B | 805.58M | 513.45M | 439.71M | 340.79M | 91.59M | 55.16M | 53.79M |
| Property, Plant & Equipment | 280.62M | 282.44M | 369.75M | 390.93M | 249.55M | 68.4M | 60.63M | 46.73M | 45.62M | 33.79M | 22.82M | 22.85M | 30.87M | 35.7M | 49.45M |
| Fixed Asset Turnover | 6.38x | 6.24x | 4.75x | 4.50x | 7.36x | 33.00x | 27.87x | 37.81x | 37.67x | 34.03x | 28.74x | 20.91x | 10.82x | 5.27x | 1.33x |
| Goodwill | 0 | 169.28M | 162.22M | 166.44M | 120.15M | 130.41M | 61.71M | 28.99M | 29.35M | 13.42M | 10.27M | 11.12M | 11.65M | 7.52M | 0 |
| Intangible Assets | 268.16M | 96.29M | 109.78M | 134.13M | 125.07M | 166.93M | 146.98M | 17.52M | 21.1M | 517K | 1.1M | 1.97M | 3.54M | 3.07M | 0 |
| Long-Term Investments | 5.66B | 1.66B | 1.39B | 1.32B | 993.63M | 1.21B | 1.18B | 1.03B | 694.59M | 452.34M | 399.93M | 294.68M | 45.2M | 5.5M | 3.56M |
| Other Non-Current Assets | 1.29B | 1.3B | 941.8M | 712.5M | 1.05B | 1.1B | 24.75M | 47.31M | 14.93M | 13.38M | 5.59M | 10.17M | 327K | 3.37M | 776K |
| Total Assets | 6.54B | 7.09B | 6.5B | 7.28B | 7.13B | 7.52B | 6.34B | 4.8B | 3.27B | 2.56B | 1.04B | 839.19M | 677.78M | 606.93M | 205.56M |
| Asset Turnover | 0.27x | 0.25x | 0.27x | 0.24x | 0.26x | 0.30x | 0.27x | 0.37x | 0.52x | 0.45x | 0.63x | 0.57x | 0.49x | 0.31x | 0.32x |
| Asset Growth % | -28.34% | 9.02% | -10.66% | 2.12% | -5.19% | 18.7% | 31.87% | 46.71% | 27.83% | 147.05% | 23.57% | 23.81% | 11.67% | 195.26% | - |
| Total Current Liabilities | 896.88M | 1.06B | 968.14M | 1.8B | 1.22B | 2.16B | 958.37M | 800.86M | 629.84M | 484.88M | 278.1M | 208.78M | 112.57M | 369.5M | 419.47M |
| Accounts Payable | 186.79M | 248.98M | 158.44M | 161.49M | 161.03M | 197.64M | 149.51M | 126.25M | 123.73M | 134.95M | 49M | 40.46M | 2.42M | 824K | 5.41M |
| Days Payables Outstanding | 157.43 | 214.86 | 156.5 | 157.49 | 146.72 | 178.63 | 180.59 | 140.14 | 162.66 | 213 | 104.44 | 104.02 | 10.57 | 5.02 | 42.55 |
| Short-Term Debt | 0 | 14.05M | 0 | 799.33M | 9.69M | 896.54M | 5.58M | 4.71M | 0 | 0 | 0 | 0 | 0 | 267.72M | 0 |
| Deferred Revenue (Current) | 380.6M | 78.32M | 122.1M | 75.19M | 79.95M | 91.14M | 143.68M | 108.78M | 99.99M | 81.31M | 48.96M | 39.09M | 20.96M | 15.03M | 2.39M |
| Other Current Liabilities | 0 | 94.82M | 0 | 494.87M | 748.02M | 587.56M | 425.15M | 381.44M | 230.46M | 158.84M | 142.81M | 0 | 88.64M | -226.15M | 406.15M |
| Current Ratio | 3.65x | 3.39x | 3.61x | 2.51x | 3.73x | 2.22x | 5.04x | 4.54x | 3.92x | 4.22x | 2.15x | 2.39x | 5.21x | 1.49x | 0.36x |
| Quick Ratio | 3.65x | 3.39x | 3.61x | 2.50x | 3.73x | 2.22x | 5.04x | 4.54x | 3.92x | 4.22x | 2.15x | 2.39x | 5.21x | 1.48x | 0.36x |
| Cash Conversion Cycle | 25.92 | - | - | 98.82 | - | - | - | - | - | - | - | - | - | 113.99 | 119.46 |
| Total Non-Current Liabilities | 1.97B | 2.03B | 1.96B | 1.97B | 2.52B | 1.67B | 2.49B | 1.72B | 896.7M | 882.15M | 1.48M | 2.38M | 873K | 768K | 7.81M |
| Long-Term Debt | 1.86B | 1.86B | 1.86B | 1.85B | 2.42B | 1.54B | 2.43B | 1.68B | 884.12M | 879.98M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 32.58M | 28.35M | 32.58M | 42.86M | 55.71M | 52.04M | 1.5M | 5.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 61.05M | 119.3M | 61.05M | 66.15M | 41.69M | 66.9M | 58.3M | 33.97M | 12.58M | 1.88M | 817K | 0 | 873K | 768K | 0 |
| Other Non-Current Liabilities | 101.89M | 16.59M | 3.07M | 3.42M | 41.69M | 15.12M | 2.1M | 33.97M | 0 | 0 | 0 | 1.34M | 0 | 479.61M | 0 |
| Total Liabilities | 2.86B | 3.08B | 2.93B | 3.76B | 3.74B | 3.83B | 3.45B | 2.52B | 1.53B | 1.37B | 279.59M | 211.16M | 113.44M | 370.26M | 419.47M |
| Total Debt | 1.86B | 1.91B | 1.91B | 2.71B | 2.49B | 2.49B | 2.43B | 1.68B | 884.12M | 879.98M | 0 | 0 | 0 | 267.72M | 0 |
| Net Debt | 708.37M | -393M | 14.89M | 120.9M | -203.79M | 71.21M | 613.67M | 229.27M | -350.47M | -120.97M | -364.77M | -237.44M | -283.46M | 21.29M | -2.91M |
| Debt / Equity | 0.51x | 0.48x | 0.53x | 0.77x | 0.73x | 0.68x | 0.84x | 0.74x | 0.51x | 0.74x | - | - | - | 1.13x | - |
| Debt / EBITDA | 3.14x | 3.64x | 3.37x | 4.96x | 4.55x | 3.29x | 4.47x | 2.68x | 1.41x | 2.08x | - | - | - | - | - |
| Net Debt / EBITDA | 1.19x | -0.75x | 0.03x | 0.22x | -0.37x | 0.09x | 1.13x | 0.37x | -0.56x | -0.29x | -2.35x | -4.06x | -296.20x | - | - |
| Interest Coverage | 5.67x | - | 4.99x | 5.19x | 2.79x | 8.76x | 7.55x | 21.15x | 44.46x | 100.41x | - | - | - | - | - |
| Total Equity | 3.68B | 4.01B | 3.58B | 3.52B | 3.39B | 3.69B | 2.89B | 2.28B | 1.75B | 1.19B | 757.36M | 628.03M | 564.34M | 236.67M | -213.91M |
| Equity Growth % | 28.12% | 11.98% | 1.74% | 3.75% | -8.07% | 27.78% | 26.49% | 30.53% | 46.31% | 57.76% | 20.59% | 11.29% | 138.45% | 210.64% | - |
| Book Value per Share | 13.70 | 14.92 | 13.49 | 14.66 | 14.34 | 16.02 | 12.68 | 10.08 | 7.51 | 5.30 | 3.40 | 2.88 | 3.02 | 1.03 | -0.93 |
| Total Shareholders' Equity | 3.6B | 3.92B | 3.48B | 3.4B | 3.33B | 3.59B | 2.81B | 2.28B | 1.75B | 1.19B | 753.23M | 620.67M | 563.28M | 236.67M | -213.91M |
| Common Stock | 3.6B | 61K | 61K | 61K | 59K | 59K | 57K | 57K | 57K | 56K | 55K | 53K | 51K | 45K | 36K |
| Retained Earnings | 0 | 2.55B | 2.29B | 2.19B | 2.05B | 1.96B | 1.53B | 1.22B | 723.18M | 152.95M | -199.64M | -307.67M | -338.23M | -274.85M | -236.74M |
| Treasury Stock | 0 | 0 | 0 | 0 | -57.68M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | -178.36M | -315.8M | -217.82M | -102.74M | 156.93M | 79.53M | -68.56M | -49.62M | 9.53M | -26.99M | -10.63M | -2.94M | 521K | 1.01M |
| Minority Interest | 78.59M | 86.83M | 96.11M | 118.88M | 60.29M | 94.2M | 73.91M | -1.45M | 2.68M | 2.21M | 4.13M | 7.36M | 1.05M | 0 | 0 |
Platform Monetization Saturation
According to recent SEC filings, Weibo's total assets have contracted from $7.3 billion in 2023Q4 to $6.5 billion in 2025Q2, reflecting a cautious capital posture as the company navigates a period of stagnant top-line growth and intensifying competition within the Chinese digital advertising landscape.
The reduction in total assets appears to be driven by a deliberate contraction in cash reserves and fluctuations in asset valuation. This trend suggests that management is prioritizing balance sheet preservation over aggressive reinvestment, likely due to the lack of high-return growth opportunities in the current regulatory and competitive environment.
As reported in financial statements, Weibo has successfully reduced its total debt from $2.7 billion in 2024Q2 to $1.9 billion in 2025Q2, resulting in a more manageable debt-to-equity ratio of 0.51 that provides a necessary buffer against potential macroeconomic volatility.
The reduction in debt obligations indicates a strategic shift toward de-risking the balance sheet, which may be intended to lower interest expenses and improve overall financial resilience. Investors should monitor whether this deleveraging is a precursor to future capital returns or simply a defensive measure against the platform's slowing revenue growth.
Based on Weibo's reported figures, the current ratio has improved to 3.65 as of 2025Q2, demonstrating that the company maintains a substantial liquidity cushion despite the ongoing challenges in converting platform activity into consistent, cash-generative operating performance.
The high current ratio suggests that Weibo is well-positioned to meet its short-term obligations without needing to access external financing. However, the reliance on current assets to maintain this ratio warrants further investigation into the quality of those assets, particularly given the lack of clear cash flow generation in recent periods.
Analysis of the balance sheet reveals that Weibo's reported equity is significantly impacted by the absence of consistent retained earnings, which have fluctuated to zero in most quarters, suggesting that the company's book value may be sensitive to non-operational investment gains and accounting adjustments.
The volatility in retained earnings implies that the company's equity base is not being consistently bolstered by core operational profitability. This reliance on non-core items to maintain book value may mask the underlying erosion of the platform's competitive moat and should be viewed with caution by long-term investors.
Quick answers to the most common questions about buying WB stock.
As of 2025, Weibo Corporation (WB) had total assets of $7.09B including $3.58B in current assets.
Weibo Corporation (WB) carries total debt of $1.91B, offset by $2.41B in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Weibo Corporation (WB) has total shareholders' equity (book value) of $3.92B ($14.92 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Weibo Corporation (WB) reported a current ratio of 3.39x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.