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Highway Holdings Limited Balance Sheet 2026-2009 | HIHO
Brief overview of Highway Holdings Limited's balance sheet strength
This overview follows the five latest available annual observations between 2021 and 2025.
The asset base decreased -38.3%, from $15.5 million to $9.6 million. Resources became smaller over the five periods.
Assets and liabilities changed at similar rates, -38.3% and -42.5%. The funding mix did not shift sharply.
Equity funds 65.6% of assets versus 63.1% initially. This creates a conservative balance sheet structure.
Negative net debt of -$5.2 million means cash holdings are larger than debt obligations.
The cash reserve occupies 62.5% of the balance sheet, previously 50.1%. It is one marker of short-term resilience.
The balance sheet includes a negative accumulated result of -$5.4 million. It should be assessed alongside historical profits and capital distributions.
Balance sheet takeaway
Highway Holdings Limited's financial position is more positive than negative: the funding mix is workable, although the cushion is not unlimited.
Annual Balance Sheet Highway Holdings Limited
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
-3.16 M | -5.16 M | -5.21 M | -4.9 M | -4.81 M | -5.79 M | - | - | - | -10 M | -9.14 M | -9.73 M | -5.42 M | -4.52 M | -5.21 M | -5.95 M | - | - |
Long Term Debt |
407 K | 187 K | 803 K | 1.48 M | 268 K | 1.14 M | - | - | - | - | - | - | - | - | 110 K | 380 K | - | - |
Long Term Debt Current |
844 K | 623 K | 588 K | 573 K | 933 K | 821 K | 782 K | - | - | - | - | - | - | 112 K | 262 K | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 2.27 M | 43 K | 81 K | 71 K | 94 K | 81 K | 50 K | 50 K | 290 K | 550 K | - | - |
Total Current Liabilities |
3.2 M | 3.08 M | 3.84 M | 4.06 M | 5.18 M | 3.96 M | 4.99 M | 5.08 M | 6.31 M | 6.21 M | 5.07 M | 4.72 M | 3.59 M | 3.28 M | 4.29 M | - | - | - |
Total Liabilities |
5.56 M | 3.29 M | 4.68 M | 5.67 M | 5.59 M | 5.71 M | 7.25 M | 5.11 M | 6.39 M | 6.28 M | 5.17 M | 4.8 M | 3.64 M | 3.34 M | 4.58 M | 6.83 M | - | - |
Deferred Revenue |
- | - | - | - | - | - | - | 32 K | 32 K | 32 K | 32 K | 44 K | 59 K | 180 K | 173 K | 147 K | - | - |
Retained Earnings |
-6.96 M | -5.44 M | -5.02 M | -3.4 M | -2.28 M | -2.04 M | -865 K | -1.23 M | 347 K | 13 K | 512 K | 782 K | 770 K | 630 K | 630 K | 1.21 M | - | - |
Total Assets |
11 M | 9.55 M | 11.3 M | 13.9 M | 14.9 M | 15.5 M | 18.2 M | 15.2 M | 18.1 M | 17.6 M | 17 M | 17 M | 15.8 M | 15.4 M | 16.6 M | 19.4 M | - | - |
Cash and Cash Equivalents |
4.41 M | 5.97 M | 6.6 M | 6.95 M | 6.01 M | 7.76 M | 8.83 M | 8.83 M | 11.3 M | 10 M | 9.14 M | 9.73 M | 5.42 M | 4.63 M | 5.58 M | 6.86 M | 6.28 M | 5.81 M |
Book Value |
5.44 M | 6.27 M | 6.64 M | 8.22 M | 9.27 M | 9.77 M | 10.9 M | 10.1 M | 11.7 M | 11.3 M | 11.9 M | 12.2 M | 12.1 M | 12 M | 12 M | 12.6 M | - | - |
Total Shareholders Equity |
4.89 M | 6.27 M | 6.64 M | 8.2 M | 9.27 M | 9.77 M | 10.9 M | 10.1 M | 11.8 M | 11.3 M | 11.9 M | 12.2 M | 12.1 M | 12 M | 12 M | 12.6 M | 11.7 M | 11.4 M |
All numbers in USD currency
Quarterly Balance Sheet Highway Holdings Limited
| 2026-Q1 | 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Long Term Debt |
407 K | 187 K | 803 K | 1.48 M | - | - | - | 268 K | - | - | - | 1.14 M | - | - | - | 2.03 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | 112 K | - | - | - | 375 K | - | - |
Total Liabilities |
5.56 M | 3.29 M | 4.68 M | 5.67 M | - | - | - | 5.59 M | - | - | - | 5.71 M | - | - | - | 7.25 M | - | - | - | 5.11 M | - | - | - | 6.34 M | - | - | - | 6.24 M | - | - | - | 5.1 M | - | - | - | 4.75 M | - | - | - | 3.63 M | - | - | - | 3.34 M | - | - | - | 4.58 M | - | - | - | 6.83 M | - | - |
Retained Earnings |
-6.96 M | -5.44 M | -5.02 M | -3.4 M | - | - | - | -2.28 M | - | - | - | -2.04 M | - | - | - | -865 K | - | - | - | -1.23 M | - | - | - | 347 K | - | - | - | 13 K | - | - | - | 512 K | - | - | - | 782 K | - | - | - | 770 K | - | - | - | 628 K | - | - | - | 634 K | - | - | - | 1.21 M | - | - |
Total Assets |
11 M | 9.55 M | 11.3 M | 13.9 M | - | - | - | 14.9 M | - | - | - | 15.5 M | - | - | - | 18.2 M | - | - | - | 15.2 M | - | - | - | 18.1 M | - | - | - | 17.6 M | - | - | - | 17 M | - | - | - | 17 M | - | - | - | 15.8 M | - | - | - | 15.4 M | - | - | - | 16.6 M | - | - | - | 19.4 M | - | - |
Cash and Cash Equivalents |
4.41 M | 5.97 M | 6.6 M | 6.95 M | - | - | - | 6.01 M | - | - | - | 7.76 M | - | - | - | 8.83 M | - | - | - | 8.83 M | - | - | - | 11.3 M | - | - | - | 10 M | - | - | - | 9.14 M | - | - | - | 9.73 M | - | - | - | 5.42 M | - | - | - | 4.63 M | - | - | - | 5.58 M | - | - | - | 6.86 M | 6.28 M | 5.81 M |
Book Value |
5.44 M | 6.27 M | 6.64 M | 8.22 M | - | - | - | 9.27 M | - | - | - | 9.77 M | - | - | - | 10.9 M | - | - | - | 10.1 M | - | - | - | 11.8 M | - | - | - | 11.3 M | - | - | - | 11.9 M | - | - | - | 12.2 M | - | - | - | 12.1 M | - | - | - | 12 M | - | - | - | 12 M | - | - | - | 12.6 M | - | - |
Total Shareholders Equity |
4.89 M | 6.27 M | 6.64 M | 8.2 M | - | - | - | 9.27 M | - | - | - | 9.76 M | - | - | - | 10.9 M | - | - | - | 10.1 M | - | - | - | 11.7 M | - | - | - | 11.3 M | - | - | - | 11.9 M | - | - | - | 12.2 M | - | - | - | 12.1 M | - | - | - | 12 M | - | - | - | 12 M | - | - | - | 12.6 M | 11.7 M | 11.4 M |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Highway Holdings Limited, 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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