While the firm maintains a current ratio of 1.35, the erosion of retained earnings to $6.1 million suggests a weakening long-term capital position.
| Total Current Assets | 75.13M | 68.34M | 52.13M | 23.73M | 26.71M | 23.13M |
| Cash & Short-Term Investments | 12.5M | 8.02M | 7.4M | 5.12M | 3.04M | 5.63M |
| Cash Only | 12.5M | 8.02M | 7.4M | 5.03M | 3.04M | 5.56M |
| Short-Term Investments | 0 | 0 | 0 | 86.1K | 0 | 69.09K |
| Accounts Receivable | 42.49M | 38.72M | 27.06M | 18.45M | 18.04M | 17.5M |
| Days Sales Outstanding | 28.8 | 23.85 | 22.66 | 14.54 | 20.17 | 27.26 |
| Inventory | 0 | 0 | 0 | 196.17K | 0 | 0 |
| Days Inventory Outstanding | - | - | - | 0.16 | - | - |
| Other Current Assets | 0 | 294.96K | 28.78K | -114.59K | 1.8M | 0 |
| Total Non-Current Assets | 587.59K | 951.9K | 1.33M | 1.86M | 277.65K | 440.71K |
| Property, Plant & Equipment | 587.59K | 951.9K | 1.33M | 735.72K | 277.65K | 440.71K |
| Fixed Asset Turnover | 916.44x | 622.46x | 326.52x | 629.19x | 1176.09x | 531.55x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 1.13M | 0 | 0 |
| Total Assets | 75.71M | 69.29M | 53.46M | 25.6M | 26.99M | 23.57M |
| Asset Turnover | 7.11x | 8.55x | 8.15x | 18.08x | 12.10x | 9.94x |
| Asset Growth % | 9.27% | 29.61% | 108.86% | -5.17% | 14.54% | - |
| Total Current Liabilities | 55.76M | 46.49M | 27.97M | 13.26M | 18.52M | 18.59M |
| Accounts Payable | 52.69M | 42.01M | 27.45M | 12.65M | 18.3M | 18.07M |
| Days Payables Outstanding | 36.01 | 26.11 | 23.37 | 10.18 | 20.94 | 28.92 |
| Short-Term Debt | 1.89M | 1.36M | 38.69K | 28.17K | 17.46K | 28.01K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 369.8K | 0 | 142.03K |
| Other Current Liabilities | 60.7K | 0 | -38.69K | -44.53K | 80.96K | 217.72K |
| Current Ratio | 1.35x | 1.47x | 1.86x | 1.79x | 1.44x | 1.24x |
| Quick Ratio | 1.35x | 1.47x | 1.86x | 1.78x | 1.44x | 1.24x |
| Cash Conversion Cycle | - | - | - | 4.53 | - | - |
| Total Non-Current Liabilities | 70.54K | 35.36K | 194.37K | 229.08K | 49.66K | 122.39K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 70.54K | 35.36K | 194.37K | 229.08K | 49.66K | 122.39K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 55.83M | 46.53M | 28.17M | 13.48M | 18.57M | 18.71M |
| Total Debt | 2.09M | 1.55M | 410.82K | 381.34K | 139.84K | 263.08K |
| Net Debt | -10.41M | -6.47M | -6.99M | -4.65M | -2.9M | -5.3M |
| Debt / Equity | 0.11x | 0.07x | 0.02x | 0.03x | 0.02x | 0.05x |
| Debt / EBITDA | - | - | 0.23x | 0.08x | 0.03x | 0.08x |
| Net Debt / EBITDA | - | - | -3.85x | -0.96x | -0.68x | -1.52x |
| Interest Coverage | -2.80x | -5.59x | 5.49x | 18.19x | 1233.89x | 5083.62x |
| Total Equity | 19.89M | 22.88M | 25.29M | 12.11M | 8.43M | 4.86M |
| Equity Growth % | -13.06% | -9.55% | 108.82% | 43.73% | 73.46% | - |
| Book Value per Share | 0.72 | 0.83 | 1.01 | 0.57 | 0.34 | 0.20 |
| Total Shareholders' Equity | 19.89M | 22.91M | 25.3M | 12.11M | 8.43M | 4.86M |
| Common Stock | 2.75K | 2.75K | 2.5K | 2.13K | 2.13K | 490.32K |
| Retained Earnings | 6.05M | 9.03M | 12.76M | 11.62M | 7.94M | 4.37M |
| Treasury Stock | -5 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | -31.74K | -6.53K | 0 | 0 | 0 |
Working capital liquidity risk
According to recent balance sheet filings, BANL's total assets grew to $75.7 million by 2025Q4, yet this expansion appears driven by rising liabilities rather than retained earnings, signaling a potential disconnect between the firm's reported scale and its underlying ability to generate sustainable economic value.
The increase in total assets from $25.6 million in 2022Q4 to $75.7 million in 2025Q4 suggests a significant scaling of the balance sheet, yet this has not translated into improved profitability. Investors should monitor whether this asset growth represents genuine business expansion or merely an accumulation of volatile trade receivables that may be difficult to collect.
As reported in financial statements, BANL maintains a current ratio of 1.35 as of 2025Q4, which, while technically solvent, provides a thin margin of safety given the company's reliance on high-volume, low-margin fuel trading that is inherently sensitive to rapid shifts in working capital requirements.
The current ratio has trended downward from 1.86 in 2023Q4, suggesting that the company's liquidity position is tightening as it scales. This trend warrants further investigation, as any disruption in the timing of customer payments could quickly exhaust the $12.5 million cash reserve.
Based on the company's reported figures, retained earnings have declined from a peak of $12.8 million in 2023 to $6.1 million in 2025Q4, indicating that the firm is failing to reinvest profits effectively and may be consuming its equity base to fund ongoing operational deficits.
The contraction in retained earnings is a concerning indicator of the firm's inability to achieve self-sustaining growth. This trend suggests that the business model may be structurally incapable of generating the returns necessary to build long-term shareholder equity without external capital support.
Data from recent filings reveals that BANL's asset base is heavily concentrated in current items, with minimal investment in physical infrastructure, which makes the company's balance sheet highly susceptible to the credit quality of its maritime customers and the volatility of global fuel prices.
The lack of significant PPE, which stands at only $587.6K, confirms the firm's asset-light brokerage model, which lacks the defensive moat of physical storage or transport assets. This structure implies that the balance sheet is essentially a pass-through vehicle for trade credit, exposing the firm to significant counterparty risk that is not immediately apparent in the headline asset figures.
Quick answers to the most common questions about buying BANL stock.
As of 2025, CBL International Limited (BANL) had total assets of $75.7M including $75.1M in current assets.
CBL International Limited (BANL) carries total debt of $2.1M, offset by $12.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CBL International Limited (BANL) has total shareholders' equity (book value) of $19.9M ($0.72 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CBL International Limited (BANL) reported a current ratio of 1.35x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.