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Deswell Industries Balance Sheet 2025-2009 | DSWL
Brief balance sheet overview of Deswell Industries
The review uses the five latest available annual reports between 2020 and 2025.
The balance sheet expanded from $95.4 million to $120.2 million. Growth of +26% and CAGR of 4.7% look measured and sustainable.
Liabilities followed the scale of the balance sheet: +20.1% versus +26% for assets. Leverage did not change materially.
Internal capital represents 85% of the balance sheet, previously 84.2%. This is a strong capital position.
The cash share moved from 23.6% to 23.4%. A higher figure generally provides more room in an adverse scenario.
Retained earnings stand at $38.5 million; the five-period change was +130.3%. This reflects accumulated business performance.
Overall assessment
Deswell Industries's balance sheet sends more positive than negative signals, but liabilities should not begin outpacing the capital base.
Annual Balance Sheet Deswell Industries
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | - | - | - | - | - | -14.4 M | -15.2 M | -8.08 M | -12 M | -14.3 M | -34.5 M | -40.7 M | -33.1 M | -35.6 M | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 659 K | 775 K | - | - | - | - | - | - | - | - | - |
Total Current Liabilities |
17.7 M | 16.4 M | - | 24 M | 21.2 M | 15.1 M | 16.2 M | 19.1 M | 14.8 M | 10.8 M | 12.4 M | 11 M | 11 M | 14.3 M | - | - | - |
Total Liabilities |
18.1 M | 16.9 M | - | 24.6 M | 22.2 M | 15.1 M | 16.2 M | 19.1 M | 14.8 M | 10.8 M | 12.4 M | 11 M | 11 M | 14.3 M | 15.9 M | - | - |
Deferred Revenue |
- | - | - | - | - | - | 1.3 M | 1.71 M | 2.15 M | 1.42 M | 2.45 M | 1.78 M | 1.25 M | 2.26 M | 1.96 M | - | - |
Retained Earnings |
38.4 M | 30.5 M | - | 27.1 M | 22.1 M | 16.7 M | 20.4 M | 17.7 M | 12.6 M | 12.9 M | 20.1 M | 25.9 M | 37 M | 44 M | 47.4 M | - | - |
Total Assets |
120 M | 111 M | - | 115 M | 108 M | 95.4 M | 100 M | 100 M | 91 M | 87.6 M | 96.4 M | 101 M | 113 M | 122 M | 127 M | - | - |
Cash and Cash Equivalents |
28.1 M | 15.8 M | 22.2 M | 13.5 M | 20.2 M | 22.5 M | 14.4 M | 15.2 M | 8.08 M | 12 M | 14.3 M | 23.3 M | 32 M | 33.1 M | 35.6 M | 35.1 M | 23.1 M |
Book Value |
102 M | 94.2 M | - | 90.8 M | 85.7 M | 80.3 M | 84 M | 81.3 M | 76.2 M | 76.8 M | 84.1 M | 89.6 M | 102 M | 108 M | 111 M | - | - |
Total Shareholders Equity |
102 M | 94.2 M | 89.6 M | 90.8 M | 85.7 M | 80.3 M | 84 M | 81.3 M | 76.2 M | 76.8 M | 84.1 M | 89.6 M | 102 M | 108 M | 111 M | 121 M | 120 M |
All numbers in USD currency
Quarterly Balance Sheet Deswell Industries
| 2025-Q1 | 2024-Q1 | 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 | 2010-Q1 | 2009-Q1 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Total Liabilities |
18.1 M | 16.9 M | - | - | - | - | - | - | - | - | 22.2 M | - | - | - | 15.1 M | - | - | - | 15.5 M | - | - | - | 18.3 M | - | - | - | 13.9 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
38.4 M | 30.5 M | - | - | - | - | - | - | - | - | 22.1 M | - | - | - | 16.7 M | - | - | - | 20.4 M | - | - | - | 17.7 M | - | - | - | 12.6 M | - | - | - | 12.9 M | - | - | - | 20.1 M | - | - | - | 25.9 M | - | - | - | 37 M | - | - | - | 44 M | - | - | - | 47.4 M | - | - |
Total Assets |
120 M | 111 M | - | - | - | - | - | - | - | - | 108 M | - | - | - | 95.4 M | - | - | - | 100 M | - | - | - | 100 M | - | - | - | 91 M | - | - | - | 87.6 M | - | - | - | 96.4 M | - | - | - | 101 M | - | - | - | 113 M | - | - | - | 122 M | - | - | - | 127 M | - | - |
Cash and Cash Equivalents |
28.1 M | 15.8 M | 22.2 M | - | - | - | - | - | - | - | 20.2 M | - | - | - | 22.5 M | - | - | - | 14.4 M | - | - | - | 15.2 M | - | - | - | 8.08 M | - | - | - | 12 M | - | - | - | 14.3 M | - | - | - | 23.3 M | - | - | - | 32 M | - | - | - | 33.1 M | - | - | - | 35.6 M | 35.1 M | 23.1 M |
Book Value |
102 M | 94.2 M | - | - | - | - | - | - | - | - | 85.7 M | - | - | - | 80.3 M | - | - | - | 84.6 M | - | - | - | 82.1 M | - | - | - | 77.1 M | - | - | - | 87.6 M | - | - | - | 96.4 M | - | - | - | 101 M | - | - | - | 113 M | - | - | - | 122 M | - | - | - | 127 M | - | - |
Total Shareholders Equity |
102 M | 94.2 M | 89.6 M | - | - | - | - | - | - | - | 85.7 M | - | - | - | 80.3 M | - | - | - | 84 M | - | - | - | 81.3 M | - | - | - | 76.2 M | - | - | - | 76.8 M | - | - | - | 84.1 M | - | - | - | 89.6 M | - | - | - | 102 M | - | - | - | 108 M | - | - | - | 111 M | 121 M | 120 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Deswell Industries, 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 – Industrial products
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