Subsea cables suffer from induced current. There are usually two metal layers grounded at both ends for subsea cables, namely lead sheath and armor. It is observed that occasionally the induced current in lead sheath and armor layer between two ends are unbalanced. To study this phenomena, detailed modelling with both analytical approach and finite-element one is performed in this paper. Furthermore, mock-up experiment is carried out. It is shown that the unbalance between grounding ends is due to the inequal impedances of multi-grounding points and/or impedance variation of the semi-conductive layer between lead sheath and armor. Based on the analysis, a subsea cable status evaluation procedure is proposed.