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Kezar Life Sciences Balance Sheet 2025-2011 | KZR
Brief balance sheet overview of Kezar Life Sciences
The balance sheet is assessed across five available annual reports spanning 2021 to 2025.
Across five reporting periods, assets decreased -64.8%, from $217.9 million to $76.6 million, producing a negative trend.
Assets and liabilities changed at similar rates, -64.8% and -68.8%. The funding mix did not shift sharply.
The equity ratio reached 91.4% from 90.3%. A high capital share reduces dependence on liabilities.
Cash accounts for 93.8% of assets versus 28.9% initially. The change indicates the degree of financial flexibility.
Retained earnings remain negative at -$490.5 million. This may reflect past losses or substantial shareholder distributions, so earnings and buybacks provide important context.
Conclusion
Kezar Life Sciences's financial structure is not clear-cut. Asset scale alone does not resolve questions about how those assets are funded.
Annual Balance Sheet Kezar Life Sciences
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Net Debt |
- | -33.1 M | -22.4 M | -28.1 M | -52.1 M | -15.8 M | -8.59 M | -24.2 M | -51 M | -9.75 M | - | - | - | - | - |
Long Term Debt |
- | 5.11 M | 10.1 M | 9.83 M | 9.62 M | 4.42 M | - | - | - | - | - | - | - | - | - |
Long Term Debt Current |
2.33 M | 3.53 M | 3.01 M | 2.56 M | 1.2 M | 1.04 M | 900 K | - | - | - | - | - | - | - | - |
Total Non Current Liabilities |
- | - | - | - | - | - | 5.46 M | 2.55 M | 78.4 M | 28.2 M | - | - | - | - | - |
Total Current Liabilities |
6.57 M | 20.3 M | 17.7 M | 11 M | 8.21 M | 6.44 M | 6 M | 3.34 M | - | - | - | - | - | - | - |
Total Liabilities |
6.57 M | 27.8 M | 33.7 M | 29.7 M | 21.1 M | 10.9 M | 11.5 M | 5.88 M | 79.9 M | 28.9 M | - | - | - | - | - |
Retained Earnings |
-491 M | -434 M | -351 M | -249 M | -181 M | -126 M | -84.3 M | -49.2 M | -26 M | -17.5 M | - | - | - | - | - |
Total Assets |
76.6 M | 145 M | 221 M | 300 M | 218 M | 152 M | 89.5 M | 115 M | 54.2 M | 11.4 M | - | - | - | - | - |
Cash and Cash Equivalents |
71.9 M | 41.7 M | 35.5 M | 40.5 M | 62.9 M | 21.2 M | 15 M | 24.2 M | 51 M | 9.76 M | - | - | - | - | - |
Book Value |
70.1 M | 117 M | 188 M | 270 M | 197 M | 141 M | 78 M | 109 M | -25.7 M | -17.4 M | - | - | - | - | - |
Total Shareholders Equity |
70.1 M | 117 M | 188 M | 270 M | 197 M | 141 M | 78 M | 109 M | -25.7 M | -17.4 M | - | - | - | - | - |
All numbers in USD currency
Quarterly Balance Sheet Kezar Life Sciences
| 2026-Q1 | 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 |
- | 1.37 M | 2.63 M | 3.87 M | 5.11 M | 6.35 M | 7.59 M | 8.83 M | 10.1 M | 10 M | 9.95 M | 9.89 M | 9.83 M | 9.78 M | 9.73 M | 9.68 M | 9.62 M | 3.54 M | 3.84 M | 4.14 M | 4.42 M | 4.42 M | 4.42 M | 4.42 M | 5.46 M | 5.46 M | 5.46 M | 5.46 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Liabilities |
2.76 M | 14.8 M | 17.3 M | 22.2 M | 27.8 M | 30 M | 29.2 M | 30 M | 33.7 M | 33.3 M | 31.1 M | 31.7 M | 29.7 M | 21.6 M | 20.1 M | 19.6 M | 21.1 M | 11.4 M | 9.79 M | 11.7 M | 10.9 M | 10.9 M | 10.9 M | 10.9 M | 11.5 M | 11.5 M | 11.5 M | 11.5 M | 5.88 M | 5.88 M | 5.88 M | 5.88 M | 1.98 M | 1.98 M | 1.98 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Retained Earnings |
-496 M | -476 M | -465 M | -451 M | -434 M | -414 M | -394 M | -372 M | -351 M | -319 M | -295 M | -271 M | -249 M | -231 M | -213 M | -197 M | -181 M | -166 M | -152 M | -139 M | -126 M | -126 M | -126 M | -126 M | -84.3 M | -84.3 M | -84.3 M | -84.3 M | -49.2 M | -49.2 M | -49.2 M | -49.2 M | -26 M | -26 M | -26 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Assets |
68 M | 97.7 M | 109 M | 125 M | 145 M | 164 M | 180 M | 199 M | 221 M | 249 M | 263 M | 284 M | 300 M | 305 M | 318 M | 252 M | 218 M | 131 M | 140 M | 152 M | 152 M | 152 M | 152 M | 152 M | 89.5 M | 89.5 M | 89.5 M | 89.5 M | 115 M | 115 M | 115 M | 115 M | 54.2 M | 54.2 M | 54.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Cash and Cash Equivalents |
66.2 M | 38.9 M | 34.4 M | 37 M | 41.7 M | 34.9 M | 28.3 M | 33 M | 35.5 M | 26.5 M | 28.1 M | 36.1 M | 40.5 M | 64.5 M | 105 M | 38.9 M | 62.9 M | 57.1 M | 26.4 M | 22.9 M | 21.2 M | 21.2 M | 21.2 M | 21.2 M | 15 M | 15 M | 15 M | 15 M | 24.2 M | 24.2 M | 24.2 M | 24.2 M | 51 M | 51 M | 51 M | - | 9.75 M | - | - | - | 19.8 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Book Value |
65.2 M | 83 M | 91.8 M | 103 M | 117 M | 134 M | 151 M | 169 M | 188 M | 216 M | 232 M | 252 M | 270 M | 283 M | 297 M | 232 M | 197 M | 119 M | 130 M | 141 M | 141 M | 141 M | 141 M | 141 M | 78 M | 78 M | 78 M | 78 M | 109 M | 109 M | 109 M | 109 M | 52.2 M | 52.2 M | 52.2 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Total Shareholders Equity |
65.2 M | 83 M | 91.8 M | 103 M | 117 M | 134 M | 151 M | 169 M | 188 M | 216 M | 232 M | 252 M | 270 M | 283 M | 297 M | 232 M | 197 M | 119 M | 130 M | 141 M | 141 M | 141 M | 141 M | 141 M | 78 M | 78 M | 78 M | 78 M | 109 M | 109 M | 109 M | 109 M | -25.7 M | -25.7 M | -25.7 M | - | -17.4 M | - | - | - | -8.42 M | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
All numbers in USD currency
Balance Sheet is a fundamental financial report of Kezar Life Sciences, 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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