The company maintains a conservative capital structure with a low debt-to-equity ratio of 0.02, though accumulated deficits have reached -$535.5M as of 2026Q1.
| Total Current Assets | 246.25M | 259.9M | 120.27M | 206.16M | 142.15M | 291.37M | 46.95M | 7.75M |
| Cash & Short-Term Investments | 221.01M | 236.86M | 86.74M | 151.89M | 110.34M | 268.25M | 38.87M | 5.97M |
| Cash Only | 221.01M | 236.86M | 86.74M | 151.89M | 110.34M | 268.25M | 38.87M | 5.97M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.73M | 3.62M | 13.98M | 25.86M | 9.13M | 8.26M | 4.15M | 698K |
| Days Sales Outstanding | 66.72 | 28.78 | 61.26 | 118.78 | 87.8 | 127.06 | 127.9 | 151.02 |
| Inventory | 14.93M | 13.28M | 15.48M | 22.23M | 19.06M | 11.98M | 3.4M | 699K |
| Days Inventory Outstanding | 160.11 | 153.1 | 102.78 | 167.7 | 267.63 | 335.02 | 152.75 | 218.62 |
| Other Current Assets | 6.59M | 6.14M | 4.07M | 6.18M | 3.62M | 0 | 0 | 148K |
| Total Non-Current Assets | 235.12M | 240.56M | 269.71M | 279.38M | 283.11M | 4.23M | 1.56M | 1.21M |
| Property, Plant & Equipment | 14.92M | 15.71M | 22.32M | 17.42M | 12.91M | 2.3M | 722K | 882K |
| Fixed Asset Turnover | 2.22x | 2.92x | 3.73x | 4.56x | 2.94x | 10.31x | 16.41x | 1.91x |
| Goodwill | 163.22M | 163.22M | 163.22M | 163.22M | 161.53M | 0 | 0 | 0 |
| Intangible Assets | 48.52M | 53.26M | 72.19M | 91.1M | 105.62M | 170K | 515K | 0 |
| Long-Term Investments | 16.57M | 7.8M | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 8.46M | 580K | 11.98M | 7.65M | 3.05M | 1.76M | 323K | 326K |
| Total Assets | 481.37M | 500.47M | 389.98M | 485.55M | 425.26M | 295.6M | 48.51M | 8.96M |
| Asset Turnover | 0.09x | 0.09x | 0.21x | 0.16x | 0.09x | 0.08x | 0.24x | 0.19x |
| Asset Growth % | 63.08% | 28.33% | -19.68% | 14.18% | 43.86% | 509.4% | 441.43% | - |
| Total Current Liabilities | 56.85M | 52.12M | 21.14M | 48.49M | 20.35M | 10.73M | 6.37M | 3.82M |
| Accounts Payable | 0 | 22.35M | 10.75M | 24.74M | 14.65M | 4.86M | 3.7M | 871K |
| Days Payables Outstanding | 141.72 | 257.6 | 71.42 | 186.6 | 205.74 | 135.93 | 165.94 | 272.42 |
| Short-Term Debt | 2.28M | 2.19M | 0 | 0 | 0 | 3.2M | 1M | 2.4M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 10.95M | 486K | 0 | 0 | 0 |
| Other Current Liabilities | 54.58M | 27.58M | 8.62M | 10.9M | 3.91M | 29K | 0 | 288K |
| Current Ratio | 4.33x | 4.99x | 5.69x | 4.25x | 6.98x | 27.16x | 7.37x | 2.03x |
| Quick Ratio | 4.07x | 4.73x | 4.96x | 3.79x | 6.05x | 26.04x | 6.84x | 1.85x |
| Cash Conversion Cycle | 85.12 | -75.72 | 92.63 | 99.88 | 149.69 | 326.15 | 114.71 | 97.22 |
| Total Non-Current Liabilities | 4.47M | 4.69M | 20.82M | 56.44M | 20.15M | 219.34M | 114.56M | 2.47M |
| Long-Term Debt | 4.06M | 4.28M | 0 | 0 | 0 | 3.72M | 4.97M | 2.4M |
| Capital Lease Obligations | 14.42M | 0 | 5.55M | 6.65M | 5.26M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.59M | 405K | 441K | 1.04M | 1.82M | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 14.83M | 48.75M | 13.06M | 215.62M | 109.59M | 68K |
| Total Liabilities | 61.32M | 56.81M | 41.97M | 104.93M | 40.5M | 230.06M | 120.93M | 6.29M |
| Total Debt | 6.34M | 6.47M | 7.32M | 8.54M | 6.57M | 6.92M | 5.97M | 4.8M |
| Net Debt | -214.67M | -230.38M | -79.42M | -143.35M | -103.77M | -261.34M | -32.9M | -1.17M |
| Debt / Equity | 0.02x | 0.01x | 0.02x | 0.02x | 0.02x | 0.11x | - | 1.80x |
| Debt / EBITDA | -0.08x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 2.80x | - | - | - | - | - | - | - |
| Interest Coverage | -114.40x | -134.46x | -591.31x | - | - | - | -78.35x | - |
| Total Equity | 420.05M | 443.66M | 348.01M | 380.62M | 384.76M | 65.54M | -72.42M | 2.67M |
| Equity Growth % | 47.99% | 27.48% | -8.57% | -1.08% | 487.1% | 190.49% | -2809.47% | - |
| Book Value per Share | 1.89 | 2.16 | 1.89 | 2.25 | 2.64 | 1.67 | -4.46 | 0.18 |
| Total Shareholders' Equity | 420.05M | 443.66M | 348.01M | 380.62M | 381.13M | 65.54M | -72.42M | 2.67M |
| Common Stock | 26K | 26K | 21K | 21K | 18K | 15K | 2K | 1K |
| Retained Earnings | -535.52M | -501.74M | -384.79M | -300.19M | -154.75M | -228.67M | -75.98M | -56.94M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -7K | -7K | -7K | -7K | -7K | -2K | -1K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 3.63M | 0 | 0 | 0 |
Persistent Operating Cash Burn
As reported in recent financial statements, NVTS has seen total assets decline from $485.5M in 2023Q4 to $481.4M by 2026Q1, a trend that reflects the company's struggle to maintain its capital base while navigating a period of significant revenue contraction and persistent operating losses.
The gradual reduction in total assets suggests that the company is consuming its capital resources to fund ongoing operations rather than reinvesting in growth-generating assets. Investors should monitor whether this downward trajectory in asset value continues as the firm attempts to pivot toward higher-margin industrial and automotive applications.
Based on the provided balance sheet data, the company's cash position fluctuated from $151.9M in 2023Q4 to $221.0M in 2026Q1, yet the current ratio of 4.33 indicates that while liquidity remains adequate, the firm's reliance on cash reserves to offset operating losses warrants close scrutiny.
While the current ratio appears healthy on the surface, the lack of consistent positive operating cash flow suggests that this liquidity buffer is being depleted to sustain the current R&D-heavy business model. The company's ability to maintain this runway without further dilutive financing appears increasingly dependent on a rapid recovery in end-market demand.
According to historical balance sheet figures, retained earnings have deteriorated significantly, reaching -$535.5M in 2026Q1, which highlights the substantial impact of cumulative operating losses on the company's equity base and underscores the speculative nature of the current valuation relative to fundamental performance.
The persistent growth of the accumulated deficit suggests that the company has yet to achieve the scale necessary to turn its technological differentiation into bottom-line profitability. This erosion of equity quality may limit the company's financial flexibility and increase the risk of future capital raises if the current burn rate persists.
As evidenced by the balance sheet, goodwill remains stagnant at $163.2M across the last ten quarters, representing a significant portion of total assets that may be vulnerable to impairment if the anticipated synergies from the GeneSiC acquisition fail to materialize in the current market environment.
The high concentration of intangible assets relative to the company's total asset base suggests that the balance sheet is sensitive to management's long-term growth assumptions. If the company continues to face revenue headwinds, the risk of a non-cash goodwill impairment charge could further weaken the equity position and investor sentiment.
Quick answers to the most common questions about buying NVTS stock.
As of 2025, Navitas Semiconductor Corporation (NVTS) had total assets of $500.5M including $259.9M in current assets.
Navitas Semiconductor Corporation (NVTS) carries total debt of $6.5M, offset by $236.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Navitas Semiconductor Corporation (NVTS) has total shareholders' equity (book value) of $443.7M ($2.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Navitas Semiconductor Corporation (NVTS) reported a current ratio of 4.99x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.