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ADC Therapeutics SA Balance Sheet 2025-2011 | ADCT
Brief overview of ADC Therapeutics SA's balance sheet structure
Balance sheet changes are traced across five available annual reports between 2021 and 2025.
Assets declined from $618 million to $323.1 million, or -47.7%. The contraction calls for context such as disposals, restructuring or weaker operations.
Liabilities expanded faster than the asset base, +12.6% versus -47.7%. Debt-service capacity deserves attention.
Equity was negative at the end of the period. Liabilities exceeded assets, leaving no balance sheet cushion.
Negative net debt of -$259.8 million means cash holdings are larger than debt obligations.
Cash equals 80.9% of the balance sheet, compared with 75.5% five periods ago. This is the readily available cushion.
Retained earnings are negative at -$1.6 billion. This reduces the formal capital cushion, although large shareholder returns may have contributed.
Balance sheet takeaway
ADC Therapeutics SA's balance sheet profile remains vulnerable. Lower liabilities and capital accumulation are the main routes to improvement.
Annual Balance Sheet ADC Therapeutics SA
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-260 M | -242 M | -267 M | -319 M | -459 M | -330 M | - | - | -263 M | -144 M | - | - | - | - | - |
Long Term Debt |
1.03 M | 8 M | 10.2 M | 6.56 M | 6.99 M | 108 M | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
538 K | 1.37 M | 1.47 M | 1.1 M | 1.03 M | 1 M | 924 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | 341 M | 378 M | 138 M | - | 1.96 M | 2.24 M | 4.52 M | - | - | - | - | - |
Total Current Liabilities |
70.2 M | 80.5 M | 67.7 M | 81.9 M | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
509 M | 525 M | 503 M | 411 M | 452 M | 178 M | 26.5 M | 24.3 M | 22.8 M | 14.2 M | - | - | - | - | - |
Deferred Revenue |
- | - | - | - | - | - | 834 K | 1.76 M | 2.32 M | 1.84 M | - | - | - | - | - |
Retained Earnings |
-1.64 B | -1.49 B | -1.34 B | -1.1 B | -925 M | -695 M | -449 M | -332 M | -209 M | -119 M | - | - | - | - | - |
Total Assets |
323 M | 322 M | 355 M | 491 M | 618 M | 514 M | 138 M | 151 M | 272 M | 155 M | - | - | - | - | - |
Cash and Cash Equivalents |
261 M | 251 M | 279 M | 326 M | 467 M | 439 M | 116 M | 139 M | - | - | - | - | - | - | - |
Book Value |
-186 M | -203 M | -148 M | 79.5 M | 166 M | 336 M | 111 M | 126 M | 249 M | 141 M | - | - | - | - | - |
Total Shareholders Equity |
-186 M | -203 M | -148 M | 79.5 M | 166 M | 336 M | 111 M | 126 M | - | - | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet ADC Therapeutics SA
| 2026-Q2 | 2026-Q1 | 2025-Q4 | 2025-Q3 | 2025-Q2 | 2025-Q1 | 2024-Q4 | 2024-Q3 | 2024-Q2 | 2024-Q1 | 2023-Q4 | 2023-Q3 | 2023-Q2 | 2023-Q1 | 2022-Q4 | 2022-Q3 | 2022-Q2 | 2022-Q1 | 2021-Q4 | 2021-Q3 | 2021-Q2 | 2021-Q1 | 2020-Q4 | 2020-Q3 | 2020-Q2 | 2020-Q1 | 2019-Q4 | 2019-Q3 | 2019-Q2 | 2019-Q1 | 2018-Q4 | 2018-Q3 | 2018-Q2 | 2018-Q1 | 2017-Q4 | 2017-Q3 | 2017-Q2 | 2017-Q1 | 2016-Q4 | 2016-Q3 | 2016-Q2 | 2016-Q1 | 2015-Q4 | 2015-Q3 | 2015-Q2 | 2015-Q1 | 2014-Q4 | 2014-Q3 | 2014-Q2 | 2014-Q1 | 2013-Q4 | 2013-Q3 | 2013-Q2 | 2013-Q1 | 2012-Q4 | 2012-Q3 | 2012-Q2 | 2012-Q1 | 2011-Q4 | 2011-Q3 | 2011-Q2 | 2011-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
1.03 M | 991 K | 8 M | 1.13 M | 1.26 M | 7.91 M | 10.2 M | 8.88 M | 9.31 M | 9.66 M | 6.56 M | 10.1 M | 10.8 M | 11 M | - | - | - | 6.61 M | 6.99 M | 7.18 M | 7.61 M | 7.6 M | 2.46 M | 2.6 M | 3.33 M | 3.56 M | 4.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | - | - | - | - | - | 443 M | 435 M | 349 M | - | - | - | 348 M | 378 M | 391 M | 169 M | 122 M | 138 M | - | - | - | 6.58 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
509 M | 508 M | 525 M | 528 M | 521 M | 511 M | 503 M | 521 M | 503 M | 502 M | 411 M | 521 M | 516 M | 430 M | - | - | - | 419 M | 452 M | 451 M | 220 M | 164 M | 178 M | - | - | - | 26.5 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-1.64 B | -1.67 B | -1.49 B | -1.63 B | -1.59 B | -1.53 B | -1.34 B | -1.46 B | -1.42 B | -1.38 B | -1.1 B | -1.24 B | -1.19 B | -1.14 B | - | - | - | -942 M | -925 M | -891 M | -819 M | -746 M | -695 M | - | - | - | -449 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
323 M | 291 M | 322 M | 290 M | 322 M | 273 M | 355 M | 349 M | 372 M | 308 M | 491 M | 467 M | 507 M | 468 M | - | - | - | 582 M | 618 M | 638 M | 464 M | 462 M | 514 M | - | - | - | 138 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
251 M | 231 M | 279 M | 235 M | 265 M | 195 M | 326 M | 274 M | 300 M | 234 M | 467 M | 310 M | 348 M | 311 M | - | - | - | 431 M | 467 M | 530 M | 372 M | 383 M | 439 M | 494 M | 349 M | 82.6 M | 116 M | - | - | - | 139 M | - | - | - | 263 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
-186 M | -216 M | -203 M | -238 M | -199 M | -238 M | -148 M | -172 M | -132 M | -194 M | 79.5 M | -54.2 M | -8.59 M | 37.7 M | - | - | - | 163 M | 166 M | 187 M | 244 M | 298 M | 336 M | - | - | - | 111 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
-203 M | -216 M | -148 M | -238 M | -199 M | -238 M | 79.5 M | -172 M | -132 M | -194 M | 154 M | -54.2 M | -8.59 M | 37.7 M | - | - | - | 163 M | 166 M | 187 M | 244 M | 298 M | 336 M | 376 M | 196 M | 71.3 M | 111 M | - | - | - | 126 M | - | - | - | 249 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of ADC Therapeutics SA, providing a complete picture of the company’s financial position at a specific point in time. Unlike the income statement, which records the results of operations over a certain period, the balance sheet shows what assets the company owns, what liabilities it has to creditors, and what equity is available to the owners.
For an investor, the balance sheet is important because it allows assessing the company’s financial stability, understanding how much debt it carries, and how dependent it is on borrowed financing. It helps calculate key liquidity and leverage ratios. When analyzing, attention should be paid to the debt-to-equity ratio (Debt/Equity), the amount of cash on the balance sheet, and the ratio of current liabilities to liquid assets.
Features of balance sheet analysis- Vertical and horizontal analysis
Vertical analysis shows the structure of the balance sheet as a percentage of total assets or liabilities, while horizontal analysis shows the dynamics of changes over multiple periods. - Asset quality
It is important to evaluate not only the amount of assets but also their liquidity and realizability. - Accounting for off-balance sheet liabilities
Some liabilities may not be directly reflected in the balance sheet, which requires additional attention.
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