Zeo Energy Corp. balance sheet

At the end of fiscal 2025, Zeo Energy Corp. had total assets of $56.9m, total liabilities of $9.5m and shareholders' equity of $5.3m. It held $6.1m in cash against $10.0m of debt: net debt of $3.9m.

Balance sheet

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

Zeo Energy Corp.: balance sheet, annual
Fiscal year	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Cash and equivalents	8	6	6	2
Receivables	3	9	8	10
Inventory	0	1	1	1
Total current assets	16	19	23	20
Goodwill	27	27	27	27
Total assets	48	61	57	56
Accounts payable	5	3	4	5
Deferred revenue (current)	5	0	1	0
Total current liabilities	16	15	8	13
Short-term debt	—	3	10	—
Long-term debt	—	0	0	0
Total debt	0	10	10	0
Total liabilities	17	18	9	15
Shareholders' equity	31	−89	5	9
Non-controlling interests and other (assets − liabilities − equity)	—	132	42	32
Net debt (negative = net cash)	−8	4	4	−2

US$ millions unless shown otherwise. Fiscal quarters.

Zeo Energy Corp.: 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	9	9	5	5	11	8	10	10
Inventory	0	1	1	1	1	1	1	1
Total current assets	16	19	10	11	24	23	20	20
Goodwill	27	27	27	27	27	27	27	27
Total assets	47	61	47	46	59	57	57	56
Accounts payable	5	3	4	5	3	4	5	5
Deferred revenue (current)	1	0	0	0	1	1	1	0
Total current liabilities	10	15	14	14	11	8	12	13
Short-term debt	0	3	0	0	0	10	—	—
Long-term debt	1	0	0	0	0	0	0	0
Total debt	1	4	1	1	0	10	0	0
Total liabilities	14	18	16	16	12	9	13	15
Shareholders' equity	−39	−89	−23	−59	−2	5	14	9
Non-controlling interests and other (assets − liabilities − equity)	73	132	55	89	48	42	30	32

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 Zeo Energy Corp.'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 Zeo Energy Corp.