The company's financial leverage has increased significantly, with the debt-to-equity ratio rising from 0.22 in 2023Q4 to 0.93 in 2026Q1 as the equity base erodes.
| Total Current Assets | 409.95M | 471.84M | 602.74M | 1B | 1.45B | 1.72B | 426.54M | 511.93M |
| Cash & Short-Term Investments | 373.46M | 422.62M | 561.57M | 944.07M | 1.32B | 1.55B | 380.8M | 495.29M |
| Cash Only | 143.86M | 167.2M | 561.57M | 944.07M | 1.32B | 1.55B | 380.8M | 495.29M |
| Short-Term Investments | 229.59M | 255.42M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 19.82M | 24.03M | 22.44M | 17.9M | 84.03M | 149.9M | 21.91M | 7.68M |
| Days Sales Outstanding | 57.08 | 51.54 | 36.08 | 25.98 | 64.2 | 174.34 | 104.3 | 51.72 |
| Inventory | 0 | 0 | 0 | 46K | 4.36M | 3.36M | 9.27M | 0 |
| Days Inventory Outstanding | - | - | - | 0.31 | 7.8 | 9.46 | 216.79 | - |
| Other Current Assets | 16.68M | 25.19M | 18.73M | 18.99M | 8.71M | 698K | 3.71M | 6.41M |
| Total Non-Current Assets | 623.12M | 647.86M | 774.71M | 663.59M | 1.09B | 347.94M | 248.61M | 185.39M |
| Property, Plant & Equipment | 516.82M | 528.7M | 598.15M | 394.99M | 718.79M | 145.77M | 121.44M | 63.13M |
| Fixed Asset Turnover | 0.26x | 0.32x | 0.38x | 0.64x | 0.66x | 2.15x | 0.63x | 0.86x |
| Goodwill | 0 | 0 | 0 | 49.24M | 60.21M | 21.31M | 1.86M | 1.86M |
| Intangible Assets | 48.86M | 56.92M | 72.51M | 82.74M | 111.04M | 21.64M | 3.29M | 3.84M |
| Long-Term Investments | 92.39M | 15.07M | 48.7M | 77.91M | 111.79M | 115.23M | 103.12M | 107.25M |
| Other Non-Current Assets | 42.73M | 47.17M | 55.34M | 58.71M | 87.41M | 43.99M | 18.9M | 9.31M |
| Total Assets | 1.03B | 1.12B | 1.38B | 1.67B | 2.54B | 2.07B | 675.15M | 697.32M |
| Asset Turnover | 0.12x | 0.15x | 0.16x | 0.15x | 0.19x | 0.15x | 0.11x | 0.08x |
| Asset Growth % | -82.8% | -18.71% | -17.29% | -34.42% | 22.61% | 206.74% | -3.18% | - |
| Total Current Liabilities | 79.59M | 95.97M | 107.27M | 163.86M | 172.96M | 134.76M | 73.22M | 40.07M |
| Accounts Payable | 16.31M | 10.57M | 14.17M | 9.32M | 10.45M | 8.19M | 13.89M | 2.44M |
| Days Payables Outstanding | 125.85 | 122.35 | 134.16 | 63.01 | 18.68 | 23.05 | 324.83 | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 87.38M | 18.95M | 30.6M | 48.49M | 47.82M | 33.24M | 0 | 0 |
| Other Current Liabilities | 48.38M | 66.46M | 26.62M | 54.38M | 52.51M | 40.31M | 41.12M | 23.44M |
| Current Ratio | 5.15x | 4.92x | 5.62x | 6.11x | 8.38x | 12.79x | 5.83x | 12.77x |
| Quick Ratio | 5.15x | 4.92x | 5.62x | 6.11x | 8.36x | 12.76x | 5.70x | 12.77x |
| Cash Conversion Cycle | -68.76 | - | - | -36.72 | 53.32 | 160.75 | -3.74 | - |
| Total Non-Current Liabilities | 510.33M | 515.14M | 554.13M | 404.33M | 630.08M | 368.85M | 131.88M | 155.39M |
| Long-Term Debt | 410.7M | 417.08M | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 428.83M | 0 | 438.77M | 221.84M | 413.26M | 22.28M | 16.52M | 16.77M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 99.63M | 98.06M | 16.58M | 24.43M | 42.06M | 190.58M | 115.36M | 138.62M |
| Total Liabilities | 589.92M | 611.11M | 661.39M | 568.19M | 803.04M | 503.61M | 205.1M | 195.47M |
| Total Debt | 410.7M | 417.08M | 467.73M | 239.31M | 442.59M | 23.03M | 17M | 17.36M |
| Net Debt | 266.84M | 249.88M | -93.84M | -704.76M | -873.2M | -1.53B | -363.8M | -477.92M |
| Debt / Equity | 0.93x | 0.82x | 0.65x | 0.22x | 0.25x | 0.01x | 0.04x | 0.03x |
| Debt / EBITDA | -1.97x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -1.28x | - | - | - | - | - | - | - |
| Interest Coverage | - | - | -5823.55x | -9600.51x | -20012.20x | -773.60x | -51.34x | -48.50x |
| Total Equity | 443.15M | 508.59M | 716.06M | 1.1B | 1.74B | 1.57B | 470.05M | 501.85M |
| Equity Growth % | -116.79% | -28.97% | -34.73% | -36.81% | 10.78% | 233.45% | -6.34% | - |
| Book Value per Share | 7.44 | 9.17 | 13.80 | 22.57 | 41.34 | 46.09 | 14.75 | 17.47 |
| Total Shareholders' Equity | 443.15M | 508.59M | 716.06M | 1.1B | 1.74B | 1.51B | 461.38M | 493.06M |
| Common Stock | 6K | 6K | 5K | 5K | 190K | 161K | 129K | 79K |
| Retained Earnings | -6.23B | -6.15B | -5.84B | -5.29B | -4.4B | -2.3B | -467.88M | -341.27M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.19M | 1.85M | -1.81M | 1.48M | -2.63M | -1.72M | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 62.01M | 8.68M | 8.79M |
Liquidity and capital exhaustion
As reported in recent SEC filings, Ginkgo's total assets have declined from $1.7 billion in 2023Q4 to $1.0 billion by 2026Q1, reflecting a consistent contraction that suggests the company is struggling to maintain its operational scale amidst persistent negative retained earnings of $6.2 billion.
The steady reduction in total assets indicates a shrinking footprint that may limit the company's future capacity for large-scale biological engineering projects. Investors should monitor whether this contraction represents a necessary strategic downsizing or an involuntary retreat due to capital constraints.
Based on the company's reported figures, the debt-to-equity ratio has climbed from 0.22 in 2023Q4 to 0.93 in 2026Q1, signaling that Ginkgo is increasingly relying on debt financing to sustain operations as its equity base is eroded by continuous, substantial net losses.
The shift toward higher leverage in a period of negative cash flow suggests a deteriorating financial position that may limit future financing flexibility. This trend warrants close scrutiny, as the company's ability to service this debt appears increasingly dependent on external capital rather than internal cash generation.
According to quarterly financial statements, Ginkgo's cash position has plummeted from $944.1 million in 2023Q4 to just $143.9 million in 2026Q1, highlighting a severe liquidity crunch that threatens the company's ability to fund its ongoing research and development activities without further dilutive capital raises.
While the current ratio remains elevated at 5.15, this metric may be misleading given the rapid depletion of cash relative to the company's high operating burn rate. The significant decline in liquid assets suggests that the company's buffer against operational shocks is nearing a critical threshold.
As indicated by recent balance sheet data, deferred revenue has fallen sharply from $206.6 million in 2023Q4 to $14.9 million in 2026Q1, which suggests a significant decline in the pipeline of future service obligations and potential weakness in new contract bookings.
The collapse in deferred revenue is a concerning indicator for a platform-based business model that relies on long-term partnerships to drive future growth. This trend may imply that the company is failing to secure the multi-year commitments necessary to stabilize its revenue base.
Quick answers to the most common questions about buying DNA stock.
As of 2025, Ginkgo Bioworks Holdings, Inc. (DNA) had total assets of $1.12B including $471.8M in current assets.
Ginkgo Bioworks Holdings, Inc. (DNA) carries total debt of $417.1M, offset by $422.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ginkgo Bioworks Holdings, Inc. (DNA) has total shareholders' equity (book value) of $508.6M ($9.17 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ginkgo Bioworks Holdings, Inc. (DNA) reported a current ratio of 4.92x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.