What is SES AI's cash ratio?

SES AI (SES) reported cash ratio of 1.6× in Q1 2026.

How has SES AI's cash ratio changed year-over-year?

SES AI's cash ratio decreased by 53.0% year-over-year, from 3.4× to 1.6×.

What is the long-term trend for SES AI's cash ratio?

Over 5 years (2020 to 2025), SES AI's cash ratio has grown at a 34.6% compound annual growth rate (CAGR), from 0.3× to 1.2×.

What does cash ratio mean?

Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.

SES AI SES Cash ratio

Cash ratio at other companies

QuantumScape Corporation QS

3.3×+0.4×

SLD

Solid PowerSLDP

1.8×-1.0×

Enovix CorporationENVX

1.8×-1.5×

Amprius TechnologiesAMPX

3.9×+0.3×

Microvast Holdings, Inc.MVST

0.3×-0.1×

American Battery Technology CompanyABAT

5.7×+5.5×

Other financials

Income statement

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Revenue$6.7M+15.8%

Gross profit$1.2M-73.3%

Operating income-$17.9M+23.2%

Net income-$12.1M+2.7%

EPS (diluted)-$0.040.0%

Balance sheet

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Cash & equivalents$46.9M-16.3%

Total debt$7.7M-18.9%

Total equity$203.2M-24.7%

Total assets$253.5M-17.1%

Cash flow

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Operating cash flow-$19.8M+13.3%

CapEx$330.0K-64.0%

Free cash flow-$20.1M+15.2%

Valuation

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Market cap$325.08M+5.5%

Enterprise value$285.86M+9.3%

P/S14.8×-27.2×

Profitability

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Gross margin36.3%-39.1pp

Operating margin-352.3%-153pp

Net margin-331.7%-142pp

FCF margin-262.8%-115pp

Returns & leverage

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Return on equity-30.7%-0.7pp

Debt / equity0×0.0×

Current ratio6.9×-8.8×

Where this comes from

Calculated from SES AI’s reported figures.

cash and equivalents/total current liabilities=1.6×

Based on the most recent quarter.

The official record: SES AI’s 10-Q, filed April 24, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is SES AI's cash ratio?: SES AI (SES) reported cash ratio of 1.6× in Q1 2026.
How has SES AI's cash ratio changed year-over-year?: SES AI's cash ratio decreased by 53.0% year-over-year, from 3.4× to 1.6×.
What is the long-term trend for SES AI's cash ratio?: Over 5 years (2020 to 2025), SES AI's cash ratio has grown at a 34.6% compound annual growth rate (CAGR), from 0.3× to 1.2×.
What does cash ratio mean?: Cash and equivalents divided by current liabilities at the quarter end. The most conservative liquidity measure — what the company could pay immediately with cash on hand.