Management maintains a lean capital structure with a negligible debt-to-equity ratio of 0.07%, reflecting an asset-light strategy that prioritizes internal funding for inventory expansion.
| Metric | Dec'24 | Dec'23 |
|---|
| Total Current Assets | 3.67M | 2.66M |
| Cash & Short-Term Investments | 54.75K | 126.29K |
| Cash Only | 54.75K | 126.29K |
| Short-Term Investments | 0 | 0 |
| Accounts Receivable | 717.64K | 51.83K |
| Days Sales Outstanding | 103.22 | 21.32 |
| Inventory | 2.65M | 2.31M |
| Days Inventory Outstanding | 760.43 | 1.61K |
| Other Current Assets | 0 | 0 |
| Total Non-Current Assets | 245.04K | 44.58K |
| Property, Plant & Equipment | 94.89K | 44.58K |
| Fixed Asset Turnover | 26.75x | 19.90x |
| Goodwill | 0 | 0 |
| Intangible Assets | 0 | 0 |
| Long-Term Investments | 0 | 0 |
| Other Non-Current Assets | 150.15K | 0 |
| Total Assets | 3.91M | 2.7M |
| Asset Turnover | 0.65x | 0.33x |
| Asset Growth % | 44.66% | - |
| Total Current Liabilities | 1.92M | 1.41M |
| Accounts Payable | 334.14K | 89.18K |
| Days Payables Outstanding | 95.85 | 62.19 |
| Short-Term Debt | 29.74K | 30.9K |
| Deferred Revenue (Current) | 23.32K | 304.58K |
| Other Current Liabilities | 0 | 0 |
| Current Ratio | 1.91x | 1.89x |
| Quick Ratio | 0.53x | 0.25x |
| Cash Conversion Cycle | 767.8 | 1.57K |
| Total Non-Current Liabilities | 90.41K | 86.98K |
| Long-Term Debt | 17.73K | 50.67K |
| Capital Lease Obligations | 72.68K | 36.31K |
| Deferred Tax Liabilities | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 |
| Total Liabilities | 2.01M | 1.49M |
| Total Debt | 140.09K | 126.12K |
| Net Debt | 85.34K | -167 |
| Debt / Equity | 0.07x | 0.10x |
| Debt / EBITDA | 0.14x | 0.41x |
| Net Debt / EBITDA | 0.08x | -0.00x |
| Interest Coverage | 582.76x | 120.72x |
| Total Equity | 1.9M | 1.21M |
| Equity Growth % | 56.91% | - |
| Book Value per Share | - | 0.04 |
| Total Shareholders' Equity | 1.9M | 1.21M |
| Common Stock | 1K | 1K |
| Retained Earnings | 1.75M | 1.05M |
| Treasury Stock | 0 | 0 |
| Accumulated OCI | -17.27K | -5.13K |
| Minority Interest | 0 | 0 |
Liquidity and inventory concentration
According to recent financial disclosures, AGCC achieved a remarkable 186% year-over-year revenue growth, signaling that the firm is successfully leveraging its specialized intermediary position to capture significant volume within the premium Taiwan whisky market through project-based trading rather than traditional, recurring retail distribution channels.
The aggressive growth trajectory suggests that the company is effectively capitalizing on market dislocations in the spirits supply chain. However, the reliance on rapid turnover of high-value inventory implies that the business quality is highly sensitive to external procurement access rather than internal brand equity.
Data from the company's balance sheet reveals a cash-to-revenue ratio below 3%, which, as noted in recent filings, creates a high-sensitivity environment where any delay in accounts receivable or inventory turnover could lead to a technical liquidity crunch despite the firm's high reported profitability.
The extremely low cash position relative to the scale of operations indicates that capital is almost entirely tied up in inventory or working capital cycles. Investors should monitor this closely, as the lack of a liquid buffer leaves the company with virtually no margin for error during market volatility.
Based on AGCC's reported figures, the company maintains a negligible debt-to-equity ratio of 0.07%, which suggests that management is currently avoiding external financing in favor of funding its rapid expansion through internal cash flow and lean operational structures.
While the lack of debt reduces interest rate sensitivity, it also highlights the company's reliance on its own limited cash reserves to manage inventory procurement. This conservative capital structure appears to be a necessity of the trading model rather than a strategic choice to optimize the balance sheet.
Based on the provided financial snapshot, the balance sheet likely obscures the true nature of the firm's capital intensity, as the reported revenue growth of 186% may mask significant cash outflows required to secure rare inventory lots before they are eventually sold to wholesale partners.
The discrepancy between the company's recent founding date and its high revenue suggests that the balance sheet may be subject to significant volatility related to inventory valuation. Analysts should investigate whether the inventory is recorded at historical cost, which could potentially mask the true market value or liquidity risk of the aged whisky stocks held.
Quick answers to the most common questions about buying AGCC stock.
As of 2024, Agencia Comercial Spirits Ltd (AGCC) had total assets of $3.9M including $3.7M in current assets.
Agencia Comercial Spirits Ltd (AGCC) carries total debt of $0.1M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Agencia Comercial Spirits Ltd (AGCC) has total shareholders' equity (book value) of $1.9M. Book value represents the net worth of the company belonging to common stock holders.
Agencia Comercial Spirits Ltd (AGCC) reported a current ratio of 1.91x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.