The company's capital structure is heavily reliant on external funding, with an equity base of $199.1M supporting a business that has accumulated negative retained earnings of $198.9M.
| Total Current Assets | 196.12M | 142.02M | 20.46M | 62.63M | 30.12M | 52.02M | 97.68M | 163.12M | 27.55M | 9.62M | 1.84M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 6.81M | 402.9K | 1.62M | 16.23M | 0 | 8.69M | 0 | 0 | 6.15M | 0 | 888.92K |
| Total Non-Current Assets | 18.83M | 0 | 0 | 176.98K | 1.56M | 28.46M | 75.58M | 767.09K | 828K | 12.77M | 5.55M |
| Property, Plant & Equipment | 114.54K | 0 | 0 | 55.43K | 66.89K | 763.57K | 1.25M | 767.09K | 427.94K | 252.83K | 205.38K |
| Fixed Asset Turnover | 129.01x | - | - | 108.24x | 26.24x | 9.06x | 2.95x | 139.82x | 53.56x | 47.04x | 22.62x |
| Goodwill | 10.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 7.88M | 0 | 0 | 0 | 0 | 0 | 0 | 331.58K | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 1.6M | 30.79M | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - | - | - | - | - |
| Total Assets | 214.95M | 142.02M | 20.46M | 62.81M | 31.69M | 80.48M | 173.26M | 163.89M | 28.38M | 22.39M | 7.39M |
| Asset Turnover | 0.07x | 0.02x | 0.64x | 0.10x | 0.06x | 0.09x | 0.02x | 0.65x | 0.81x | 0.53x | 0.63x |
| Asset Growth % | 51.36% | 594.12% | -67.42% | 98.22% | -60.63% | -53.55% | 5.71% | 477.44% | 26.75% | 202.94% | - |
| Total Current Liabilities | 13.81M | 3.59M | 11.62M | 50.52M | 14.41M | 12.36M | 26.56M | 23.85M | 4.88M | 8.38M | 4.04M |
| Accounts Payable | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - | - | - | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 10M | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | - | - | - | - | - | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 0 | 705.48K | 13M | 0 | 8.3M | 0 | 0 | 0 | 2.72M | 3.34M |
| Current Ratio | 14.20x | 39.52x | 1.76x | 1.24x | 2.09x | 4.21x | 3.68x | 6.84x | 5.65x | 1.15x | 0.46x |
| Quick Ratio | 14.20x | 39.52x | 1.76x | 1.24x | 2.09x | 4.21x | 3.68x | 6.84x | 5.65x | 1.15x | 0.46x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.99M | 0 | 0 | 0 | 0 | 20.01M | 20.19M | 3.79B | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 20M | 20M | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | - | - | - | - | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | - | - | - | - | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - | - | - | - |
| Total Liabilities | 15.8M | 3.59M | 11.62M | 50.52M | 14.41M | 32.38M | 46.75M | 23.85M | 4.88M | 8.38M | 4.04M |
| Total Debt | 81.74K | 0 | 0 | 0 | 10M | 20.75M | 20M | 0 | 0 | 0 | 0 |
| Net Debt | -176.15M | -85.17M | -7.92M | -18.43M | -5.13M | 14.09M | -37.37M | -132.62M | -19.23M | -7.82M | -954.68K |
| Debt / Equity | 0.00x | - | - | - | 0.58x | 0.43x | 0.16x | - | - | - | - |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - | - | - | - | -1.74x | -1.92x | -1.86x | - |
| Interest Coverage | - | - | - | -3.98x | -13.42x | -17.76x | - | - | - | - | - |
| Total Equity | 199.15M | 138.42M | 8.84M | 12.29M | 17.27M | 48.1M | 126.5M | 140.04M | 23.5M | 14.01M | 3.35M |
| Equity Growth % | 43.87% | 1465.97% | -28.05% | -28.87% | -64.09% | -61.98% | -9.67% | 495.82% | 67.75% | 318.22% | - |
| Book Value per Share | 0.70 | 5.81 | 1.16 | 1.85 | 3.18 | 8.88 | 21.52 | 26.45 | 4.41 | 2.63 | 0.63 |
| Total Shareholders' Equity | 199.12M | 138.37M | 8.73M | 12.28M | 17.27M | 48.1M | 126.5M | 140.04M | 23.5M | 14.01M | 3.35M |
| Common Stock | 165.68K | 43.83K | 6.98K | 6.98K | 5K | 5K | 4.96K | 4.8K | 4.29K | 4.21K | 0 |
| Retained Earnings | -198.9M | -63.93M | -54.47M | -53.11M | -36.26M | -1.43M | 69.77M | 77.24M | 11.76M | 3.19M | -350.17K |
| Treasury Stock | -3.99M | -3.99M | -3.99M | -3.99M | -3.99M | -3.99M | -1.32M | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.77M | -4.09M | -3.85M | -1.65M | -3.1M | -7.05M | -1.76M | 4.38M | -1.54M | -464.72K | 17.36K |
| Minority Interest | 31.99K | 56.81K | 114.21K | 1.98K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital allocation and burn
According to reported financial statements, AHG's total assets surged from $16.9M in 2024Q2 to $215.0M by 2025Q4, a trend primarily driven by capital injections rather than organic asset accumulation, which warrants caution regarding the underlying quality of the company's growth trajectory and long-term business viability.
The rapid expansion of the balance sheet appears disconnected from the company's operational performance, as evidenced by the persistent accumulation of losses in retained earnings. Investors should monitor whether this asset growth represents a strategic pivot or merely the temporary parking of capital that remains vulnerable to future impairment.
Based on the provided balance sheet data, AHG's goodwill balance reached $10.8M in 2025Q4 after peaking at $112.5M earlier in the year, suggesting that recent acquisitions may have faced significant valuation adjustments or write-downs that reflect the difficulty of integrating new business units into the current model.
The volatility in intangible assets suggests that management's inorganic growth strategy is fraught with execution risk. The significant reduction in goodwill implies that the company may be struggling to realize the expected synergies from its recent acquisitions, which could necessitate further write-downs if performance does not improve.
As indicated by the company's latest filings, AHG maintains a cash position of $176.2M, which provides a substantial buffer against its current liabilities of $15.8M, though this liquidity must be weighed against the company's aggressive and persistent operational cash burn observed in recent quarters.
While the current ratio of 14.20 suggests a strong short-term liquidity position, this metric is heavily influenced by the large cash pile rather than operational efficiency. The company appears to be operating as a capital-heavy entity that relies on its treasury rather than its core business to maintain solvency.
Based on the reported figures, the company's equity base of $199.1M is heavily supported by capital raises rather than retained earnings, which remain deeply negative at -$198.9M, indicating that the firm's financial foundation is built on external funding rather than internal value creation or sustainable profitability.
The stark contrast between the company's equity position and its accumulated deficit suggests that shareholders are effectively subsidizing an unproven business model. This structure implies that the balance sheet may be more reflective of a speculative investment vehicle than a traditional operating company, necessitating a cautious approach to valuation.
Quick answers to the most common questions about buying AHG stock.
As of 2025, Akso Health Group (AHG) had total assets of $215.0M including $196.1M in current assets.
Akso Health Group (AHG) carries total debt of $0.1M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Akso Health Group (AHG) has total shareholders' equity (book value) of $199.1M ($0.70 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Akso Health Group (AHG) reported a current ratio of 14.20x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.