Filing Flows › Disclosures › Cash runway
Cash runway: who is burning cash, and how long it lasts
Of 3,730 companies with a balance sheet on file, 1,261 have operations that consume cash; 644 of them have less than a year of runway without new money. Another 258 bring cash in from operations but spend more on capital projects, a gap they fund by choice (not counted as burning). 30 have more debt due within a year than cash on hand. Figures are from the companies' own cash-flow statements and balance sheets as filed.
Shortest runway
| Company | Cash & investments | Free cash flow, a year | Runway | Due within a year |
|---|---|---|---|---|
| CIMG Cimg | $5K | −$16.7M | 0 mo | — |
| MMLP Martin Midstream Partners L.P. | $48K | −$62.6M | 0 mo | — |
| STRG Starguide Group | $14 | −$18K | 0 mo | — |
| BBLR Bubblr | $335 | −$403K | 0 mo | — |
| AZIO Azio AI Holdings | $142K | −$125M | 0 mo | — |
| IPST IP Strategy Holdings | $19K | −$16.7M | 0 mo | $2.4M |
| MWYN Marwynn Holdings | $4K | −$1.8M | 0 mo | — |
| PMI Picard Medical | $38K | −$16.0M | 0 mo | — |
| CETY Clean Energy Technologies | $22K | −$8.0M | 0 mo | — |
| GDLG Glidelogic | $149 | −$49K | 0 mo | — |
| CPMD Cannapharmarx | $1K | −$173K | 0 mo | — |
| SKYI Sky Century Investment | $264 | −$74K | 0 mo | — |
| PRPH ProPhase Labs | $20K | −$5.5M | 0 mo | — |
| AUSI Aura Systems | $13K | −$3.5M | 0 mo | — |
| HSCS HeartSciences | $30K | −$6.8M | 0 mo | — |
| LIMX Limitless X Holdings | $8K | −$1.7M | 0 mo | — |
| SUNI Sun | $63 | −$13K | 0 mo | — |
| CAHO Caro Holdings | $1K | −$118K | 0 mo | — |
| CBDY Target Group | $6K | −$1.1M | 0 mo | $7.3M |
| LSEB Lseb Creative | $477 | −$79K | 0 mo | — |
| PVIT Palisades Venture | $145 | −$23K | 0 mo | — |
| FLYE Fly-E Group | $60K | −$8.7M | 0 mo | $4.0M |
| RLEA Rubber Leaf | $1K | −$196K | 0 mo | — |
| CRCW Crypto | $10K | −$1.4M | 0 mo | — |
| DIT Amcon Distributing | $637K | −$81.3M | 0 mo | $5.5M |
| MITI Mitesco | $8K | −$1.0M | 0 mo | — |
| MDWK MDWerks | $13K | −$1.6M | 0 mo | $258K |
| RADC Readvantage | $481 | −$56K | 0 mo | — |
| HLYK HealthLynked | $13K | −$1.4M | 0 mo | — |
| SIF Sifco Industries | $77K | −$8.6M | 0 mo | $11.9M |
| BICX BioCorRx | $21K | −$2.4M | 0 mo | — |
| BNKK Bonk | $269K | −$24.1M | 0 mo | — |
| HIGR Hi-Great Group Holding | $1K | −$80K | 0 mo | — |
| NWBO Northwest Biotherapeutics | $595K | −$49.8M | 0 mo | — |
| ZSPC zSpace | $145K | −$11.4M | 0 mo | $2.9M |
| Ionetix | $279K | −$19.7M | 0 mo | — |
| AREB American Rebel Holdings | $96K | −$6.7M | 0 mo | — |
| Northwest Natural Gas | $3.5M | −$242M | 0 mo | $151M |
| XAGE Longevity Health Holdings | $35K | −$2.4M | 0 mo | — |
| Transit Pro Tech | $7K | −$445K | 0 mo | — |
Debt walls: more due within a year than cash
| Company | Due within a year | Cash & investments | Coverage | Free cash flow, 12 months |
|---|---|---|---|---|
| OGE OGE Energy | $316M | $200K | 0.00× | $209M |
| CBDY Target Group | $7.3M | $6K | 0.00× | −$1.1M |
| UDR UDR | $802M | $1.2M | 0.00× | $614M |
| YORW York Water | $330K | $1K | 0.00× | −$11.6M |
| NPHC Nutra Pharma | $8.5M | $39K | 0.00× | −$1.0M |
| CPWR Ocean Thermal Energy | $6.9M | $33K | 0.00× | −$417K |
| CUZ Cousins Properties | $870M | $5.2M | 0.01× | $423M |
| AITX Artificial Intelligence Technology Solutions | $35.6M | $220K | 0.01× | −$8.8M |
| WTRG Essential Utilities | $1.5B | $9.3M | 0.01× | $2.1B |
| SIF Sifco Industries | $11.9M | $77K | 0.01× | $3.4M |
| JBHT Hunt J B Transport Services | $500M | $3.8M | 0.01× | $966M |
| DBMM Digital Brand Media & Marketing Group | $3.2M | $25K | 0.01× | −$585K |
| IPST IP Strategy Holdings | $2.4M | $19K | 0.01× | −$16.7M |
| PNW Pinnacle West Capital | $1.3B | $11.1M | 0.01× | −$932M |
| AMTX Aemetis | $377M | $3.4M | 0.01× | −$36.6M |
| SAFX XCF Global | $36.7M | $329K | 0.01× | −$20.0M |
| CNX CNX Resources | $209M | $2.0M | 0.01× | $482M |
| TPTS Terra Property Trust | $132M | $1.4M | 0.01× | −$945K |
| CDIX Cardiff Lexington | $18.4M | $218K | 0.01× | −$1.6M |
| Evergy Kansas Central | $276M | $3.4M | 0.01× | — |
| CNH Industrial Capital LLC | $6.0B | $80.8M | 0.01× | $457M |
| FLYE Fly-E Group | $4.0M | $60K | 0.01× | −$8.7M |
| ARTW Arts Way Manufacturing | $165K | $3K | 0.02× | −$1.0M |
| TXNM Txnm Energy | $303M | $5.6M | 0.02× | −$570M |
| SNRG SusGlobal Energy | $11.5M | $213K | 0.02× | −$3.8M |
| CPK Chesapeake Utilities | $458M | $8.6M | 0.02× | −$209M |
| SRE Sempra | $1.8B | $34.0M | 0.02× | −$4.9B |
| BRLS Borealis Foods | $25.8M | $500K | 0.02× | −$5.3M |
| MRAI Marpai | $7.0M | $138K | 0.02× | −$8.7M |
| CNFN CFN Enterprises | $3.4M | $76K | 0.02× | −$1.9M |
Fortress balance sheets: most net cash, self-funding
| Company | Net cash | Cash & investments | Debt | Free cash flow, 12 months |
|---|---|---|---|---|
| GOOGL Alphabet | $216.0B | $265.1B | $49.1B | $19.7B |
| BRK-B Berkshire Hathaway | $41.4B | $41.4B | none | $24.2B |
| NVDA NVIDIA | $38.2B | $71.6B | $33.4B | $127.0B |
| TSLA Tesla | $37.5B | $45.4B | $8.0B | $3.3B |
| F Ford Motor | $34.1B | $34.1B | none | $5.1B |
| MSFT Microsoft | $29.0B | $64.5B | $35.5B | $60.0B |
| KKR KKR | $21.2B | $21.2B | none | $2.5B |
| ANET Arista Networks | $14.4B | $14.4B | none | $5.2B |
| GEV GE Vernova | $13.9B | $16.8B | $2.9B | $17.1B |
| EQH Equitable Holdings | $13.7B | $17.5B | $3.8B | $2.6B |
| MET Metlife | $13.1B | $27.7B | $14.6B | $14.0B |
| HUM Humana | $12.6B | $25.1B | $12.5B | $3.1B |
| SCHW Schwab Charles | $10.9B | $36.7B | $25.7B | $11.7B |
| PLTR Palantir Technologies | $10.6B | $10.6B | none | $4.1B |
| ABNB Airbnb | $10.2B | $12.6B | $2.4B | $5.0B |
| AMP Ameriprise Financial | $10.1B | $10.1B | none | $7.3B |
| RJF Raymond James Financial | $10.0B | $10.0B | none | $1.4B |
| ATH-PA Athene Holding | $9.8B | $18.6B | $8.8B | $6.5B |
| Metropolitan Life Insurance | $9.5B | $10.5B | $997M | $8.7B |
| APO Apollo Global Management | $8.1B | $22.9B | $14.7B | $9.3B |
| AMD Advanced Micro Devices | $7.8B | $15.8B | $8.0B | $7.1B |
| INTC Intel | $7.4B | $54.0B | $46.6B | $3.8B |
| REGN Regeneron Pharmaceuticals | $7.3B | $9.3B | $2.0B | $3.8B |
| ZM Zoom Communications | $7.2B | $7.2B | none | $1.9B |
| VEEV Veeva Systems | $7.2B | $7.2B | none | $1.7B |
| CFR Cullen/Frost Bankers | $7.1B | $7.1B | none | $578M |
| OSCR Oscar Health | $7.1B | $7.5B | $432M | $4.1B |
| NTRS Northern Trust | $6.4B | $6.4B | none | $1.7B |
| CNC Centene | $6.1B | $23.6B | $17.5B | $3.9B |
| DASH DoorDash | $6.0B | $6.0B | none | $2.7B |
Runway is cash and investments divided by the trailing year's negative free cash flow (or the latest quarter's, annualised, when the burn is new); it assumes no new financing and no change in the burn. Debt due within a year is the annual report's first maturity bucket or the current portion on the balance sheet. Not investment advice.