Liquidity has reached a precarious state with a current ratio of 0.75, as the company's retained earnings have plummeted to a deficit of $35.5 million.
| Total Current Assets | 6.88M | 12.71M | 39.52M | 50.14M | 86.2M | 92.07M | 82.41M | 76.7M |
| Cash & Short-Term Investments | 1.63M | 2.81M | 5.87M | 9.76M | 4.75M | 6.58M | 8.12M | 1.25M |
| Cash Only | 1.27M | 1.48M | 3.32M | 6.68M | 4.75M | 6.58M | 8.12M | 1.25M |
| Short-Term Investments | 368.25K | 1.33M | 2.55M | 3.08M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 4.61M | 5.86M | 26.08M | 34.81M | 62.29M | 65.15M | 54.68M | 60.17M |
| Days Sales Outstanding | 2.95K | 3.43K | 10.33K | 5.26K | 5.81K | 2K | 1.12K | 1.36K |
| Inventory | 0 | 0 | 4.71M | 5.5M | 18.54M | 17.02M | 17.08M | 12.76M |
| Days Inventory Outstanding | - | - | 5.57K | 821.09 | 3.26K | 4.94K | 3.36K | 3.17K |
| Other Current Assets | 638.55K | 427.08K | 7.57M | 60.11K | 620.02K | -2.73M | -2.99M | 15.28M |
| Total Non-Current Assets | 5.54M | 8.54M | 9.31M | 7.91M | 7.88M | 1.27M | 2.39M | 734.01K |
| Property, Plant & Equipment | 719.26K | 1.72M | 2.06M | 2.35M | 2.57M | 1.26M | 1.51M | 127.87K |
| Fixed Asset Turnover | 0.79x | 0.36x | 0.45x | 1.03x | 1.52x | 9.43x | 11.84x | 126.35x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 241.21K | 401.55K | 3.29M | 3.74M | 5.5K | 778.42K | 36.55K |
| Long-Term Investments | 4.82M | 6.58M | 6.85M | 2.26M | 1.57M | 0 | 2.29M | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | -5.17M | 4.53M | 0 | -2.29M | 479.14K |
| Total Assets | 12.42M | 21.25M | 48.83M | 58.05M | 94.08M | 93.34M | 84.8M | 77.44M |
| Asset Turnover | 0.05x | 0.03x | 0.02x | 0.04x | 0.04x | 0.13x | 0.21x | 0.21x |
| Asset Growth % | -41.57% | -56.48% | -15.88% | -38.3% | 0.79% | 10.07% | 9.51% | - |
| Total Current Liabilities | 9.13M | 6.42M | 6.47M | 12.61M | 19.48M | 51.68M | 49.43M | 54.57M |
| Accounts Payable | 5.37M | 3.62M | 2.29M | 8.85M | 12.16M | 35.38M | 35.83M | 31.18M |
| Days Payables Outstanding | 2.23K | 3.05K | 2.71K | 1.32K | 2.14K | 10.28K | 7.05K | 7.74K |
| Short-Term Debt | 730.72K | 685K | 2.25M | 1.45M | 515.59K | 1.53M | 4.31M | 0 |
| Deferred Revenue (Current) | 1.27M | 1.07M | 931.32K | 1.29M | 1.62M | 9.17M | 7.16M | 16.77M |
| Other Current Liabilities | 0 | 0 | 0 | 832 | 1.66M | 0 | 0 | 0 |
| Current Ratio | 0.75x | 1.98x | 6.11x | 3.98x | 4.42x | 1.78x | 1.67x | 1.41x |
| Quick Ratio | 0.75x | 1.98x | 5.38x | 3.54x | 3.47x | 1.45x | 1.32x | 1.17x |
| Cash Conversion Cycle | - | - | 13.18K | 4.76K | 6.93K | -3.34K | -2.57K | -3.21K |
| Total Non-Current Liabilities | 0 | 0 | 0 | 11.59M | 537.45K | 351.55K | 3.18M | 3.33M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 537.45K | 0 | 26.32K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 3.16M | 3.33M |
| Total Liabilities | 9.13M | 6.42M | 6.47M | 12.61M | 20.02M | 51.68M | 52.62M | 57.89M |
| Total Debt | 730.72K | 685K | 2.25M | 1.45M | 1.05M | 1.88M | 4.72M | 0 |
| Net Debt | -535.13K | -795.53K | -1.06M | -5.23M | -3.7M | -4.69M | -3.4M | -1.25M |
| Debt / Equity | 0.22x | 0.05x | 0.05x | 0.03x | 0.01x | 0.05x | 0.15x | - |
| Debt / EBITDA | - | - | - | - | - | 0.30x | 0.42x | - |
| Net Debt / EBITDA | - | - | - | - | - | -0.76x | -0.30x | -0.13x |
| Interest Coverage | -614.29x | -197.80x | -126.32x | - | -147.33x | 39.35x | 216.31x | 50.44x |
| Total Equity | 3.29M | 14.82M | 42.36M | 45.44M | 74.06M | 41.66M | 32.18M | 19.55M |
| Equity Growth % | -77.82% | -65.01% | -6.77% | -38.65% | 77.77% | 29.44% | 64.66% | - |
| Book Value per Share | 2.14 | 9.66 | 27.61 | 29.80 | 50.75 | 39.21 | 22.34 | 14.22 |
| Total Shareholders' Equity | 3.29M | 14.82M | 42.36M | 45.44M | 74.06M | 41.66M | 32.18M | 19.55M |
| Common Stock | 14.73K | 14.73K | 14.73K | 14.73K | 14.63K | 10.2K | 10.2K | 10K |
| Retained Earnings | -35.48M | -23.46M | 3.41M | 5.26M | 29M | 35.74M | 29.02M | 17.84M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -2.81M | -3.3M | -2.63M | -1.4M | 3.49M | 2.09M | -656.86K | -323.31K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Terminal capital depletion risk
According to historical financial statements, BAOS has seen its total assets plummet from $105.9 million in 2021Q2 to just $12.4 million by 2025Q4, reflecting a severe and persistent contraction that signals a fundamental loss of operational scale and long-term business viability within the advertising sector.
The consistent decline in total assets over the last ten quarters suggests that the company is failing to replace its asset base as it consumes capital to fund ongoing losses. This trajectory indicates that the firm is rapidly approaching a point where its remaining asset base may be insufficient to support continued operations.
As reported in recent filings, the company's current ratio has deteriorated significantly, falling from a peak of 6.11 in 2023Q4 to a precarious 0.75 in 2025Q4, which indicates that current liabilities now exceed current assets, leaving the firm with minimal cushion against further operational shocks.
The decline in the current ratio suggests that the company is struggling to manage its short-term obligations as cash reserves dwindle. Investors should monitor the company's ability to meet immediate payment demands, as the current liquidity profile appears increasingly inadequate for sustaining ongoing business activities.
Based on the reported figures, retained earnings have shifted from a positive $35.5 million in 2021Q2 to a deficit of $35.5 million by 2025Q4, illustrating a total erosion of shareholder value driven by persistent net losses and the inability to generate sustainable returns on invested capital.
The transition to a significant retained earnings deficit suggests that the company has effectively exhausted its historical capital base. This trend implies that future operations may require external financing or further dilution, as the current equity structure is no longer supported by profitable business performance.
Financial data indicates that the company's asset base is increasingly comprised of potentially illiquid items, as evidenced by the near-total disappearance of goodwill and the reliance on $1.3 million in deferred revenue, which may represent future service obligations rather than actual cash-generating potential for the firm.
The lack of meaningful goodwill or intangible assets suggests that the company has little remaining value beyond its cash and physical equipment. This composition warrants further investigation, as it may indicate that the firm is essentially a shell with limited operational assets to drive future revenue growth.
Quick answers to the most common questions about buying BAOS stock.
As of 2025, Baosheng Media Group Holdings Limited (BAOS) had total assets of $12.4M including $6.9M in current assets.
Baosheng Media Group Holdings Limited (BAOS) carries total debt of $0.7M, offset by $1.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Baosheng Media Group Holdings Limited (BAOS) has total shareholders' equity (book value) of $3.3M ($2.14 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Baosheng Media Group Holdings Limited (BAOS) reported a current ratio of 0.75x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.