The firm achieved a 186% year-over-year revenue growth rate while maintaining a 49.86% gross margin, suggesting high efficiency in its premium whisky trading operations.
| Metric | Dec'24 | Dec'23 |
|---|
| Sales/Revenue | 2.54M | 887.31K |
| Revenue Growth % | 186% | - |
| Cost of Goods Sold | 1.27M | 523.38K |
| COGS % of Revenue | 50.14% | 58.98% |
| Gross Profit | 1.27M | 363.93K |
| Gross Margin % | 49.86% | 41.02% |
| Gross Profit Growth % | 247.67% | - |
| Operating Expenses | 250.72K | 64.79K |
| OpEx % of Revenue | 9.88% | 7.3% |
| Selling, General & Admin | 250.72K | 64.79K |
| SG&A % of Revenue | 9.88% | 7.3% |
| Research & Development | 0 | 0 |
| R&D % of Revenue | - | - |
| Other Operating Expenses | 0 | 0 |
| Operating Income | 1.01M | 299.14K |
| Operating Margin % | 39.98% | 33.71% |
| Operating Income Growth % | 239.16% | - |
| EBITDA | 1.03M | 306.96K |
| EBITDA Margin % | 40.48% | 34.59% |
| EBITDA Growth % | 234.7% | - |
| D&A (Non-Cash Add-back) | 12.81K | 7.82K |
| EBIT | 1.02M | 302.64K |
| Net Interest Income | -1.61K | -2.36K |
| Interest Income | 127 | 114 |
| Interest Expense | 1.74K | 2.48K |
| Other Income/Expense | 3.63K | 1.02K |
| Pretax Income | 1.02M | 300.16K |
| Pretax Margin % | 40.12% | 33.83% |
| Income Tax | 238.94K | 60.87K |
| Effective Tax Rate % | 23.47% | 20.28% |
| Net Income | 779.28K | 239.29K |
| Net Margin % | 30.71% | 26.97% |
| Net Income Growth % | 225.67% | - |
| Net Income (Continuing) | 779.28K | 239.29K |
| Discontinued Operations | 0 | 0 |
| Minority Interest | 0 | 0 |
| EPS (Diluted) | 0.00 | 0.01 |
| EPS Growth % | - | - |
| EPS (Basic) | 0.00 | 0.01 |
| Diluted Shares Outstanding | 0 | 34.11M |
| Basic Shares Outstanding | 0 | 34.11M |
| Dividend Payout Ratio | - | - |
Liquidity and concentration risk
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 triple-digit growth rate suggests the company is effectively capitalizing on supply-demand imbalances in the high-end spirits sector. However, investors should monitor whether this trajectory is sustainable or merely a reflection of opportunistic inventory turnover that may face volatility as market conditions shift.
As reported in financial statements, AGCC maintains a robust 49.86% gross margin, which indicates that the company operates as a high-value trading house rather than a low-margin commodity distributor, capturing significant premiums on rare whisky lots within the competitive Taiwan luxury spirits landscape.
The narrow spread between gross and operating margins implies a lean, low-overhead corporate structure that avoids the heavy marketing and capital expenditures typical of brand-owning distillers. This efficiency appears to be the primary driver of the company's strong 39.98% operating margin, though it remains sensitive to procurement costs.
Based on AGCC's reported figures, the company demonstrates significant operating leverage by scaling its trading volume against a static administrative cost base, resulting in an impressive 39.98% operating margin that suggests minimal fixed overhead requirements for its current business model.
This lean structure allows the firm to convert a substantial portion of its gross profit directly into operating income. While this indicates high efficiency, it also suggests that the company lacks the defensive buffer of a larger, more diversified cost structure should trading volumes experience a sudden contraction.
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 discrepancy between the March 2025 founding date and the current TTM revenue figures warrants further investigation into the company's historical audit trail and potential reorganization impacts. Investors should be wary that the current growth narrative may mask underlying liquidity risks inherent in a capital-intensive, inventory-heavy trading model.
Quick answers to the most common questions about buying AGCC stock.
For fiscal year 2024, Agencia Comercial Spirits Ltd (AGCC) reported total revenue of $2.5M. This represents a 186.0% increase compared to $0.9M in 2023.
Agencia Comercial Spirits Ltd (AGCC) is profitable, generating $0.8M in net income for the fiscal year ending 2024 with a net profit margin of 30.7%.
Agencia Comercial Spirits Ltd (AGCC) reported an operating income of $1.0M, resulting in an operating profit margin of 40.0%. This margin reflects the operational efficiency of the business before interest and taxes.
Agencia Comercial Spirits Ltd (AGCC) generated $1.3M in gross profit for the year, representing a gross profit margin of 49.9%. This demonstrates the company's core pricing power and production efficiency.