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CECO Environmental Corp. Balance Sheet 2025-2011 | CECE
Brief overview of CECO Environmental Corp.'s balance sheet structure
The review uses the five latest available annual reports between 2021 and 2025.
Assets advanced +114.7% to $893.8 million from $416.2 million; annual growth near 21.1% reflects a fast increase in scale.
Asset growth of +114.7% came with a +171.4% rise in liabilities. Financial leverage became more prominent.
Equity represents 35.5% of assets versus 49.5% initially. The capital structure appears balanced.
Net debt to equity stands at 0.57x; the current burden does not look excessive.
The cash share moved from 7.2% to 3.7%. A higher figure generally provides more room in an adverse scenario.
By the end of the period, accumulated earnings were $56.6 million; the change from the start was +254.2%.
Conclusion
CECO Environmental Corp.'s balance sheet is broadly resilient, though selected areas require monitoring. The balance between assets, equity and liabilities remains the key issue.
Annual Balance Sheet CECO Environmental Corp.
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
182 M | 184 M | 76.3 M | 65.3 M | 34.1 M | 35.8 M | 29.9 M | 32.5 M | 84.9 M | 77.4 M | 143 M | 93.1 M | 66.4 M | -23 M | -3.12 M |
Long Term Debt |
211 M | 217 M | 127 M | 108 M | 61.6 M | 69.5 M | 63 M | 74.5 M | 104 M | 114 M | 158 M | 104 M | 79.2 M | - | 9.6 M |
Long Term Debt Current |
4.64 M | 4.26 M | 4.28 M | 3.23 M | 2.41 M | 2.27 M | 2.61 M | - | 11.3 M | 8.83 M | 19.5 M | 8.89 M | 9.92 M | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 100 M | 110 M | 144 M | 162 M | 206 M | 158 M | 119 M | 4.57 M | 12.7 M |
Total Current Liabilities |
306 M | 245 M | 203 M | 147 M | 117 M | 109 M | 115 M | 104 M | 108 M | 146 M | 148 M | 75.4 M | 59.3 M | 27.5 M | 23.6 M |
Total Liabilities |
571 M | 508 M | 363 M | 287 M | 210 M | 216 M | 216 M | 214 M | 252 M | 309 M | 354 M | 233 M | 178 M | 32.1 M | 36.4 M |
Deferred Revenue |
124 M | 81.5 M | 56.9 M | 32.7 M | 28.9 M | 24.7 M | 40 M | 26.7 M | 20.5 M | 35.1 M | 28 M | 14.6 M | 13.5 M | 11.4 M | - |
Retained Earnings |
56.6 M | 6.57 M | -6.39 M | -19.3 M | -36.7 M | -38.1 M | -46.3 M | -59.4 M | -52.7 M | -41.7 M | 5.47 M | 19.1 M | 11.9 M | 9.69 M | 1.3 M |
Total Assets |
894 M | 760 M | 600 M | 505 M | 416 M | 419 M | 409 M | 393 M | 439 M | 499 M | 599 M | 414 M | 349 M | 94.1 M | 79.3 M |
Cash and Cash Equivalents |
33.1 M | 37.8 M | 54.8 M | 45.5 M | 29.9 M | 36 M | 35.6 M | 43.7 M | 29.9 M | 45.8 M | 34.2 M | 18.2 M | 22 M | 23 M | 12.7 M |
Book Value |
323 M | 252 M | 237 M | 218 M | 206 M | 204 M | 193 M | 179 M | 187 M | 190 M | 245 M | 181 M | 170 M | 62 M | 43 M |
Total Shareholders Equity |
318 M | 248 M | 237 M | 218 M | 206 M | 204 M | 193 M | 179 M | 187 M | 190 M | 239 M | 181 M | 170 M | 62 M | 43 M |
All numbers in USD currency
Quarterly Balance Sheet CECO Environmental Corp.
| 2026-Q1 | 2025-Q4 | 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 |
248 M | 211 M | 237 M | 338 M | 217 M | 123 M | 120 M | 125 M | 127 M | 135 M | 137 M | 141 M | 108 M | 107 M | 92.8 M | 81.4 M | 61.6 M | 62.2 M | 63.7 M | 66 M | 69.5 M | 69.5 M | 69.5 M | 69.5 M | 63 M | 63 M | 63 M | 63 M | 74.5 M | 74.5 M | 74.5 M | 74.5 M | 104 M | 104 M | 104 M | 104 M | 114 M | 114 M | 114 M | 114 M | 158 M | 158 M | 158 M | 158 M | 103 M | 103 M | 104 M | 104 M | 79.2 M | 79.2 M | 79.2 M | 79.2 M | - | - | - | - | - | - | - | - |
Total Liabilities |
710 M | 571 M | 573 M | 667 M | 508 M | 376 M | 358 M | 353 M | 363 M | 370 M | 355 M | 345 M | 287 M | 281 M | 271 M | 245 M | 210 M | 216 M | 204 M | 208 M | 216 M | 216 M | 216 M | 216 M | 216 M | 216 M | 216 M | 216 M | 214 M | 214 M | 214 M | 214 M | 252 M | 252 M | 252 M | 252 M | 309 M | 309 M | 309 M | 309 M | 354 M | 354 M | 354 M | 354 M | 231 M | 233 M | 233 M | 233 M | 179 M | 178 M | 178 M | 178 M | 32.1 M | 32.1 M | 32.1 M | 32.1 M | 36.4 M | 36.4 M | 36.4 M | 36.4 M |
Deferred Revenue |
184 M | 124 M | 93 M | 87.9 M | 81.5 M | 64.8 M | 59.9 M | 58.2 M | 56.9 M | 54.2 M | 61.4 M | 51.9 M | 32.7 M | 33.9 M | 35.9 M | 36.3 M | 28.9 M | 24.6 M | 19.2 M | 17.1 M | 20.7 M | 20.7 M | 20.7 M | 20.7 M | 34.4 M | 34.4 M | 34.4 M | 34.4 M | 20.1 M | 20.1 M | 20.1 M | 20.1 M | 20.1 M | 1.68 M | 1.68 M | 1.68 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
56.2 M | 56.6 M | 52.1 M | 42.6 M | 6.57 M | 1.69 M | -394 K | -4.88 M | -6.39 M | -10.3 M | -13.6 M | -17.3 M | -19.3 M | -27.6 M | -29.5 M | -33.9 M | -36.7 M | -37.9 M | -36.7 M | -37 M | -38.1 M | -38.1 M | -38.1 M | -38.1 M | -46.3 M | -46.3 M | -46.3 M | -46.3 M | -59.4 M | -59.4 M | -59.4 M | -59.4 M | -52.7 M | -52.7 M | -52.7 M | -52.7 M | -41.7 M | -41.7 M | -41.7 M | -41.7 M | 5.47 M | 5.47 M | 5.47 M | 5.47 M | 19.1 M | 19.1 M | 19.1 M | 19.1 M | 11.9 M | 11.9 M | 11.9 M | 11.9 M | 9.69 M | 9.69 M | 9.69 M | 9.69 M | 1.3 M | 1.3 M | 1.3 M | 1.3 M |
Total Assets |
1.03 B | 894 M | 877 M | 957 M | 760 M | 622 M | 598 M | 589 M | 600 M | 600 M | 583 M | 568 M | 505 M | 486 M | 482 M | 458 M | 416 M | 419 M | 411 M | 414 M | 419 M | 419 M | 419 M | 419 M | 409 M | 409 M | 409 M | 409 M | 393 M | 393 M | 393 M | 393 M | 439 M | 439 M | 439 M | 439 M | 499 M | 499 M | 499 M | 499 M | 599 M | 599 M | 599 M | 599 M | 412 M | 414 M | 414 M | 414 M | 349 M | 349 M | 349 M | 349 M | 94.1 M | 94.1 M | 94.1 M | 94.1 M | 79.3 M | 79.3 M | 79.3 M | 79.3 M |
Cash and Cash Equivalents |
45.4 M | 33.1 M | 36.8 M | 146 M | 37.8 M | 38.7 M | 36.5 M | 46.6 M | 54.8 M | 47.6 M | 47.6 M | 41.2 M | 45.5 M | 35.2 M | 34.4 M | 28.4 M | 29.9 M | 31.9 M | 32.2 M | 40.9 M | 36 M | 36 M | 36 M | 36 M | 35.6 M | 35.6 M | 35.6 M | 35.6 M | 43.7 M | 43.7 M | 43.7 M | 43.7 M | 29.9 M | 29.9 M | 29.9 M | 29.9 M | 45.8 M | 45.8 M | 45.8 M | 45.8 M | 34.2 M | 34.2 M | 34.2 M | 34.2 M | 18.2 M | 18.2 M | 19.4 M | 19.4 M | 22 M | 22.7 M | 22.7 M | 22.7 M | 22.3 M | 23 M | 23 M | 23 M | 12.7 M | 12.7 M | 12.7 M | 12.7 M |
Book Value |
317 M | 323 M | 303 M | 290 M | 252 M | 246 M | 240 M | 236 M | 237 M | 230 M | 227 M | 222 M | 218 M | 205 M | 210 M | 213 M | 206 M | 203 M | 207 M | 206 M | 204 M | 204 M | 204 M | 204 M | 193 M | 193 M | 193 M | 193 M | 179 M | 179 M | 179 M | 179 M | 187 M | 187 M | 187 M | 187 M | 190 M | 190 M | 190 M | 190 M | 245 M | 245 M | 245 M | 245 M | 181 M | 181 M | 181 M | 181 M | 170 M | 170 M | 170 M | 170 M | 62 M | 62 M | 62 M | 62 M | 43 M | 43 M | 43 M | 43 M |
Total Shareholders Equity |
312 M | 318 M | 298 M | 290 M | 248 M | 241 M | 240 M | 236 M | 233 M | 230 M | 227 M | 222 M | 213 M | 205 M | 210 M | 213 M | 205 M | 203 M | 207 M | 206 M | 204 M | 203 M | 203 M | 203 M | 193 M | 193 M | 193 M | 193 M | 179 M | 179 M | 179 M | 179 M | 187 M | 187 M | 187 M | 187 M | 190 M | 244 M | 241 M | 241 M | 239 M | 239 M | 239 M | 239 M | 181 M | 181 M | 181 M | 181 M | 170 M | 170 M | 170 M | 170 M | 62 M | 62 M | 62 M | 62 M | 43 M | 43 M | 43 M | 43 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of CECO Environmental Corp., 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.
Balance sheet of other industry stocks – Pollution treatment
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|---|---|---|---|---|---|
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TOMI Environmental Solutions
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LiqTech International
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