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CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2025	Sep. 30, 2024
Current Assets:
Cash and cash equivalents	$ 450,739	$ 315,331
Short-term investments	24,788	43,061
Accounts receivable, less allowance for credit losses of $368 and $414, respectively	217,065	214,405
Contract assets	136,679	102,827
Inventories	84,719	85,873
Prepaid expenses	10,591	7,487
Other current assets	7,135	7,497
Total Current Assets	931,716	776,481
Property, plant and equipment, net	111,049	103,421
Operating lease assets, net	1,664	1,216
Goodwill	6,125	1,003
Intangible assets, net	6,138	500
Deferred income tax assets	33,440	27,246
Other assets	18,852	18,313
Total Assets	1,108,984	928,180
Current Liabilities:
Accounts payable	67,080	73,633
Contract liabilities	297,949	287,763
Accrued compensation and benefits	39,184	33,777
Accrued product warranty	6,356	5,822
Current operating lease liabilities	882	595
Income taxes payable	11,028	8,983
Other current liabilities	23,908	17,442
Total Current Liabilities	446,387	428,015
Deferred compensation (Note J)	13,707	12,027
Long-term operating lease liabilities	782	621
Deferred income tax liabilities	5,297	2,708
Other long-term liabilities	2,041	1,736
Total Liabilities	468,214	445,107
Commitments and Contingencies (Note H)
Stockholders’ Equity:
Preferred stock, par value $0.01; 5,000,000 shares authorized; none issued	0	0
Common stock, par value $0.01; 30,000,000 shares authorized; Shares issued: 12,876,196 and 12,795,256, respectively Shares outstanding: 12,070,178 and 11,989,238, respectively	129	128
Additional paid-in capital	62,834	70,111
Retained earnings	629,848	462,194
Treasury stock, 806,018 shares at cost	(24,999)	(24,999)
Accumulated other comprehensive loss	(27,042)	(24,361)
Total Stockholders’ Equity	640,770	483,073
Total Liabilities and Stockholders’ Equity	$ 1,108,984	$ 928,180

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

POWELL INDUSTRIES INC 10-K