Solarmax Technology, Inc. balance sheet

At the end of fiscal 2025, Solarmax Technology, Inc. had total assets of $91.3m, total liabilities of $103m and shareholders' equity of −$12.2m. It held $8.0m in cash against $25.5m of debt: net debt of $17.6m.

Balance sheet

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

Solarmax Technology, Inc.: balance sheet, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	4	3	1	8	2
Receivables	6	4	4	13	18
Inventory	3	1	1	2	2
Total current assets	29	20	21	75	48
Goodwill	8	8	0	0	—
Total assets	61	49	39	91	111
Accounts payable	2	3	3	60	9
Total current liabilities	47	43	35	96	50
Short-term debt	—	21	18	20	21
Long-term debt	—	—	7	0	2
Total debt	28	35	32	26	24
Total liabilities	78	65	54	103	127
Shareholders' equity	−16	−16	−15	−12	−16
Net debt (negative = net cash)	25	32	31	18	22
Shares outstanding	40m	40m	45m	46m	5m

US$ millions unless shown otherwise. Fiscal quarters.

Solarmax Technology, Inc.: balance sheet, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Receivables	5	4	4	3	13	13	12	18
Inventory	2	1	2	2	2	2	2	2
Total current assets	24	21	22	22	42	75	80	48
Goodwill	0	0	0	0	0	0	—	—
Total assets	43	39	39	38	59	91	106	111
Accounts payable	3	3	4	4	26	60	61	9
Total current liabilities	38	35	39	40	58	96	98	50
Short-term debt	20	18	21	21	17	20	18	21
Long-term debt	—	7	6	5	5	0	1	2
Total debt	20	25	27	25	21	21	19	22
Total liabilities	54	54	54	53	70	103	118	127
Shareholders' equity	−11	−15	−16	−15	−12	−12	−11	−16
Shares outstanding	45m	45m	46m	49m	54m	5m	57m	5m

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 Solarmax Technology, 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 Solarmax Technology, Inc.