FRVO
Fervo Energy Co
Fervo Energy Co (FRVO) files with the SEC as an utilities company. Its most recent balance sheet puts total assets at $1.4B, against $500M of liabilities and -$278M of equity, as at 2026-03-31. That balance sheet grew 4.6% against 2025-12-31, when total assets were $1.4B. Liabilities account for 35.0% of the balance sheet and equity -19.5%. The largest single line on the asset side is Cash at $281M, 19.7% of total assets. Its largest single liability is Long-term debt at $187M, 13.1% of the balance sheet. By total assets it is the 99th largest of the 143 utilities companies covered here. Equity is negative, so the claims against this company exceed what it owns on the filed figures. That is a real shape, not an error, and it is drawn below the baseline rather than hidden. The figures come from a filing filed on 2026-06-23. Some line items this filer reports are not broken out separately here; the totals are complete and the difference is shown as a remainder rather than distributed across the lines that are named. This filing does not reconcile by 84.5%: liabilities plus equity differ from total assets, and it is flagged rather than adjusted. Every figure above is as filed. Nothing is estimated, smoothed or restated, and where the filing and the identity disagree the disagreement is shown rather than closed.
What it owns, and who has a claim on it
Both columns are the same height because they are the same money, counted twice: once by what it is, once by who it belongs to.
| Cash | $2.1B60% |
|---|---|
| Other assetsincludes 5 line items this filer does not report separately | $1.4B40% |
| Long-term debt | $217M6% |
|---|---|
| Other liabilitiesincludes 1 line item this filer does not report separately | $337M10% |
| Shareholders' equity | $2.8B79% |
Not reported separately
This filer does not break these out. They are inside the totals, counted in the shaded remainder — not estimated, and not set to zero.
Most of what FRVO owns is financial — cash and money owed to it account for 60% of total assets.
It is mostly owner-funded: equity is 79% of the balance sheet, borrowings and other claims the rest.
Not every line item is reported separately by this filer: receivables, inventory, property & equipment, goodwill and others are inside the totals rather than broken out.
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Learn more
- Understanding the Accounting Identity — Why Assets = Liabilities + Equity works as a test on data you did not produce, and what it means when a filing does not balance.
- Why SEC XBRL Data Is Wrong 1 Out of 5 Times (And How to Fix It) — How the figure on this page was chosen out of the twenty-odd tags the filer published for it.
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Related companies
The nearest in size that file in the same sector, each drawn to the same scale.