Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period the company’s balance sheet shows very strong expansion: total assets grew from $28,791M in 2021 to $111,601M in 2025 (an increase of ≈+288%). Growth was uneven — a large step-up in 2022 (+53%) was followed by a modest dip in 2023 (−6.8%), then big increases in 2024 (+59.6%) and 2025 (+69.8%). Total liabilities rose from $11,898M to $32,274M (+≈171%), with steady but smaller year-to-year increases after 2022. Stockholders’ equity was the standout, increasing from $16,893M to $79,327M (≈+370%) over the period, although it fell sharply in 2023 (≈−17%) before surging in 2024 and 2025 (+94% and +85%, respectively). The structure of the balance sheet improved materially: the equity-to-assets ratio climbed from ~59% in 2021 to ~71% in 2025 while liabilities as a share of assets declined from ~41% to ~29%, indicating lower financial leverage and stronger solvency. That shift is consistent with a period in which asset growth was largely funded through equity (retained earnings or capital raises) or operating cash flows rather than debt. The 2023 dip in assets and equity is noteworthy and suggests an interim operating or capital event (e.g., weaker results, one-time charges, buybacks, or balance-sheet reclassification); the sharp recoveries in 2024–25 are consistent with the kind of rapid revenue and cash-generation expansion seen in semiconductor/AI-related leaders during large demand cycles. For a complete diagnosis, cross-check income statement, cash-flow movements, and footnote disclosures (acquisitions, share activity, or large working-capital swings) that would explain the 2023 decline and the composition of the asset build‑out in 2024–25.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.