Shengfeng Development Ltd balance sheet

At the end of fiscal 2025, Shengfeng Development Ltd had total assets of $347m, total liabilities of $208m and shareholders' equity of $132m. It held $35.3m in cash against $172m of debt: net debt of $136m.

Balance sheet

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

Shengfeng Development Ltd: balance sheet, annual
Fiscal year	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	28	19	21	27	35	35
Receivables	—	81	89	98	127	136
Inventory	8	8	9	—	—	—
Total current assets	—	122	136	149	205	217
Total assets	—	244	245	266	310	347
Accounts payable	—	54	57	61	89	90
Deferred revenue (current)	—	1	1	—	2	1
Total current liabilities	—	125	131	136	163	171
Short-term debt	—	46	48	36	39	3
Long-term debt	—	46	48	36	16	34
Total debt	0	92	95	72	131	172
Total liabilities	—	148	150	154	187	208
Shareholders' equity	84	92	91	108	117	132
Non-controlling interests and other (assets − liabilities − equity)	—	—	—	—	6	7
Net debt (negative = net cash)	−28	73	74	46	97	136

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 Shengfeng Development Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to Shengfeng Development Ltd.