Ascendis Pharma A/s balance sheet

At the end of fiscal 2025, Ascendis Pharma A/s had total assets of $1.53bn, total liabilities of $1.72bn and shareholders' equity of −$191m. It held $723m in cash against $956m of debt: net debt of $233m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Ascendis Pharma A/s: balance sheet, annual
Fiscal year	2015Dec 2015	2016Dec 2016	2017Dec 2017	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	130	190	235	318	671	715	505	476	434	579	723
Inventory	—	—	—	—	—	0	85	140	231	306	354
Total current assets	—	194	246	336	686	905	912	988	777	1,098	1,302
Goodwill	—	4	4	4	4	—	—	—	—	—	—
Total assets	—	201	254	365	760	1,198	1,228	1,166	913	1,221	1,529
Total current liabilities	—	14	29	45	54	65	114	767	815	940	1,255
Short-term debt	—	—	—	—	—	—	8	427	450	474	504
Long-term debt	—	—	—	—	—	—	111	102	247	378	452
Total debt	0	0	0	0	0	0	119	529	697	852	956
Total liabilities	—	14	29	45	89	173	228	884	1,074	1,330	1,720
Shareholders' equity	131	186	225	321	670	1,026	1,000	282	−161	−109	−191
Net debt (negative = net cash)	−130	−190	−235	−318	−671	−715	−386	53	263	273	233

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Ascendis Pharma A/s's SEC filings (10-K and 10-Q), retrieved November 2, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Ascendis Pharma A/s.