LEE Enterprises, Inc balance sheet

At the end of fiscal 2025, LEE Enterprises, Inc had total assets of $602m, total liabilities of $643m and shareholders' equity of −$43.3m. It held $10.0m in cash against $455m of debt: net debt of $445m.

Balance sheet

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

LEE Enterprises, Inc: balance sheet, annual
Fiscal year	2009Sept 2009	2010Sept 2010	2011Sept 2011	2012Sept 2012	2013Sept 2013	2014Sept 2014	2015Sept 2015	2016Sept 2016	2017Sept 2017	2018Sept 2018	2019Sept 2019	2020Sept 2020	2021Sept 2021	2022Sept 2022	2023Sept 2023	2024Sept 2024	2025Sept 2025	LTMJun 2026
Cash and equivalents	8	19	24	18	18	17	11	17	11	5	9	34	26	16	15	10	10	59
Receivables	—	—	—	—	—	—	—	—	—	44	43	53	65	70	69	61	55	45
Inventory	—	11	7	—	—	7	4	4	4	6	4	8	6	8	8	6	5	6
Total current assets	—	122	136	122	104	96	83	77	68	59	60	109	109	109	107	98	89	121
Goodwill	—	434	247	244	244	244	244	244	246	246	250	328	330	330	330	328	324	324
Total assets	—	1,440	1,158	1,061	828	811	748	663	621	575	555	864	844	744	712	649	602	625
Accounts payable	—	31	27	22	22	27	20	18	17	13	17	17	20	29	36	36	42	46
Deferred revenue (current)	—	37	35	35	33	31	29	28	27	24	22	60	61	50	41	32	26	25
Total current liabilities	—	188	1,094	110	107	119	105	99	98	65	61	144	142	131	114	115	113	104
Short-term debt	—	82	995	12	14	31	25	25	30	7	3	14	6	0	0	0	—	—
Long-term debt	—	1,001	0	914	820	773	701	566	496	461	429	525	477	463	456	446	455	455
Total debt	0	1,082	995	932	839	805	726	617	548	485	444	538	483	463	456	446	455	455
Total liabilities	—	1,383	1,259	1,175	997	989	906	790	712	612	592	907	800	727	688	657	643	625
Shareholders' equity	24	57	−101	−114	−170	−178	−128	−128	−92	−37	−38	−32	41	15	21	−10	−43	−2
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	—	—	−30	—	—	—	—	—	—	—	—	—	—	—
Net debt (negative = net cash)	−8	1,063	971	914	822	788	715	600	538	479	435	505	457	446	441	436	445	395
Shares outstanding	—	—	—	—	—	—	—	—	—	—	—	—	—	—	12m	12m	12m	—

US$ millions unless shown otherwise. Fiscal quarters.

LEE Enterprises, Inc: balance sheet, quarterly
Quarter	2024 Q4Sept 2024	2025 Q1Dec 2024	2025 Q2Mar 2025	2025 Q3Jun 2025	2025 Q4Sept 2025	2026 Q1Dec 2025	2026 Q2Mar 2026	2026 Q3Jun 2026
Receivables	61	60	62	57	55	51	46	45
Inventory	6	6	6	5	5	5	5	6
Total current assets	98	92	93	97	89	83	112	121
Goodwill	328	324	324	324	324	324	324	324
Total assets	649	633	624	623	602	593	619	625
Accounts payable	36	45	44	47	42	50	41	46
Deferred revenue (current)	32	30	29	27	26	26	26	25
Total current liabilities	115	119	116	118	113	112	98	104
Short-term debt	0	0	—	0	—	—	—	—
Long-term debt	446	446	453	455	455	455	455	455
Total debt	446	446	453	456	455	455	455	455
Total liabilities	657	657	660	661	643	639	622	625
Shareholders' equity	−10	−27	−39	−40	−43	−49	−5	−2
Shares outstanding	6m	—	—	—	6m	—	—	—

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 LEE Enterprises, Inc's SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to LEE Enterprises, Inc.