The company's financial leverage is increasingly aggressive, with total debt reaching $30.9 million and a debt-to-equity ratio of 2.75 as of 2026Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 |
|---|
| Total Current Assets | 25.98M | 23M | 12.8M | 17.08M | 20.97M | 15.27M | 16.03M | 284K | 1.44M | 1.37M | 829K | 1.26M | 2.72M | 6.49M |
| Cash & Short-Term Investments | 419K | 727K | 11K | 52K | 23K | 50K | 0 | 17K | 1.34M | 1.27M | 748K | 1.01M | 2.16M | 6.26M |
| Cash Only | 419K | 727K | 11K | 52K | 23K | 50K | 0 | 17K | 1.34M | 1.27M | 748K | 1.01M | 2.16M | 6.26M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 6.9M | 4.86M | 2.76M | 2.58M | 3.03M | 3.95M | 4.05M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 40.69 | 37.87 | 22.46 | 19.48 | 17.97 | 21.62 | 32.56 | - | - | - | - | - | - | - |
| Inventory | 18.06M | 17.06M | 9.47M | 12.84M | 16M | 10.95M | 10.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 131.78 | 172.56 | 97.92 | 120.95 | 129.68 | 79.23 | 116.22 | - | - | - | - | - | - | - |
| Other Current Assets | 609K | 349K | 242K | 241K | 520K | 321K | 984K | 267K | 97K | 98K | 81K | 247K | 555K | 233K |
| Total Non-Current Assets | 27.82M | 28.38M | 34.42M | 35.62M | 44.24M | 45.58M | 38.84M | 0 | 39K | 196K | 353K | 509K | 666K | 826K |
| Property, Plant & Equipment | 6.92M | 7.48M | 3.66M | 4.68M | 5.25M | 5.93M | 6.09M | 0 | 0 | 0 | 0 | 0 | 0 | 3K |
| Fixed Asset Turnover | 8.38x | 6.27x | 12.25x | 10.34x | 11.72x | 11.25x | 7.46x | - | - | - | - | - | - | - |
| Goodwill | 18.46M | 18.46M | 23.29M | 23.29M | 23.29M | 23.29M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.81M | 1.84M | 48K | 10K | 23K | 160K | 23.7M | 0 | 39K | 196K | 353K | 509K | 666K | 823K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 8M | 8M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 632K | 593K | 247K | 48K | 48K | 8.2M | 378K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 53.8M | 51.38M | 47.22M | 52.7M | 65.21M | 60.85M | 54.87M | 284K | 1.48M | 1.57M | 1.18M | 1.77M | 3.38M | 7.32M |
| Asset Turnover | 0.96x | 0.91x | 0.95x | 0.92x | 0.94x | 1.10x | 0.83x | - | - | - | - | - | - | - |
| Asset Growth % | 21.45% | 8.8% | -10.4% | -19.19% | 7.16% | 10.9% | 19221.83% | -80.77% | -5.86% | 32.74% | -33.11% | -47.8% | -53.74% | - |
| Total Current Liabilities | 27.43M | 22.92M | 12.55M | 15.97M | 11.89M | 9.18M | 11.04M | 1.16M | 246K | 199K | 304K | 261K | 282K | 100K |
| Accounts Payable | 6.96M | 4.96M | 3.3M | 2.58M | 0 | 2.65M | 3.41M | 379K | 245K | 197K | 249K | 254K | 124K | 88K |
| Days Payables Outstanding | 48.89 | 50.14 | 34.16 | 24.26 | - | 19.18 | 36.09 | 3.55K | 569.59 | 350.76 | 507.74 | 590.51 | - | - |
| Short-Term Debt | 18.61M | 15.68M | 8.11M | 12.19M | 8.37M | 5.71M | 6.95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 1.81M | 2.27M | 0 | 0 | 2.73M | 43K | 536K | 776K | 0 | 0 | 0 | 0 | 0 | 0 |
| Current Ratio | 0.95x | 1.00x | 1.02x | 1.07x | 1.76x | 1.66x | 1.45x | 0.25x | 5.85x | 6.90x | 2.73x | 4.82x | 9.64x | 64.91x |
| Quick Ratio | 0.29x | 0.26x | 0.27x | 0.27x | 0.42x | 0.47x | 0.46x | 0.25x | 5.85x | 6.90x | 2.73x | 4.82x | 9.64x | 64.91x |
| Cash Conversion Cycle | 123.59 | 160.28 | 86.23 | 116.17 | - | 81.67 | 112.69 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 15.15M | 16M | 37.73M | 34.29M | 45.15M | 22.6M | 14.73M | 3.07M | 2.48M | 2.25M | 1M | 1M | 0 | 0 |
| Long-Term Debt | 8.79M | 9.34M | 6.32M | 5.11M | 16.91M | 18.45M | 9.28M | 3.07M | 2.48M | 2.25M | 1M | 1M | 0 | 0 |
| Capital Lease Obligations | 12.6M | 3.83M | 1.44M | 2.14M | 2.73M | 3.44M | 4.59M | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 2.86M | 2.82M | 29.97M | 27.04M | 25.51M | 713K | 869K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 42.57M | 38.92M | 50.28M | 50.26M | 57.04M | 31.78M | 25.77M | 4.23M | 2.72M | 2.45M | 1.3M | 1.26M | 282K | 100K |
| Total Debt | 30.9M | 28.85M | 16.61M | 20.33M | 28.8M | 28.34M | 20.81M | 3.07M | 2.48M | 2.25M | 1M | 1M | 0 | 0 |
| Net Debt | 30.48M | 28.13M | 16.6M | 20.28M | 28.78M | 28.29M | 20.81M | 3.05M | 1.13M | 974K | 252K | -11K | -2.16M | -6.26M |
| Debt / Equity | 2.75x | 2.32x | - | 8.34x | 3.52x | 0.97x | 0.71x | - | - | - | - | 1.98x | - | - |
| Debt / EBITDA | -7.99x | - | - | - | 6.80x | 5.64x | 7.88x | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -7.88x | - | - | - | 6.80x | 5.63x | 7.88x | - | - | - | - | - | - | - |
| Interest Coverage | -1.11x | -0.92x | -0.43x | -1.34x | 4.46x | 4.38x | 3.37x | -2.92x | - | - | - | - | - | - |
| Total Equity | 11.22M | 12.45M | -3.06M | 2.44M | 8.17M | 29.08M | 29.11M | -3.94M | -1.24M | -879K | -122K | 506K | 3.1M | 7.22M |
| Equity Growth % | 4901.49% | 507.23% | -225.48% | -70.18% | -71.9% | -0.1% | 838.36% | -216.88% | -41.52% | -620.49% | -124.11% | -83.69% | -57% | - |
| Book Value per Share | 1.20 | 2.34 | -19.40 | 15.46 | 51.85 | 366.78 | 367.14 | -72.49 | -22.88 | -18.63 | -2.98 | 12.38 | 75.90 | 176.52 |
| Total Shareholders' Equity | 11.22M | 12.45M | -3.06M | 2.44M | 8.17M | 29.08M | 29.11M | -3.3M | -1.24M | -879K | -122K | 506K | 3.1M | 7.22M |
| Common Stock | 5K | 4K | 0 | 0 | 0 | 0 | 0 | 0 | 27K | 27K | 20K | 20K | 20K | 20K |
| Retained Earnings | -219.95M | -218.04M | -196.1M | -190.61M | -184.87M | -184.86M | -185.3M | -193.83M | -191.75M | -191.37M | -189.62M | -188.96M | -186.19M | -182.02M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 12K | -1K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -641K | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion
According to recent quarterly filings, Capstone Holding Corp.'s equity base has deteriorated significantly, falling from $27.2 million in 2025Q3 to just $11.2 million by 2026Q1, reflecting a persistent inability to retain earnings while managing a mounting debt load that now exceeds total equity by 2.75 times.
The rapid contraction in equity suggests that the company is consuming its capital base to fund ongoing operations rather than building value. This trajectory indicates that the firm's financial foundation is weakening, which may limit future strategic flexibility and increase reliance on dilutive financing.
As reported in financial statements, the company's total debt has climbed to $30.9 million as of 2026Q1, representing a substantial portion of the $53.8 million in total assets, which suggests that debt is being utilized as a necessity to sustain operations rather than for strategic expansion.
The rising debt-to-equity ratio, which reached 2.75 in the most recent quarter, implies that the company is increasingly leveraged in a way that may constrain future cash flow durability. Investors should monitor whether this debt structure creates restrictive covenants that could further limit the company's operational agility.
Based on the reported figures, cash and equivalents have plummeted to a precarious $419,000 as of 2026Q1, a sharp decline from the $1.7 million held in 2025Q1, which leaves the company with a minimal buffer against operational shocks or unexpected capital requirements.
With a current ratio hovering near 0.95, the company appears to lack sufficient liquid assets to comfortably cover its short-term obligations. This liquidity profile suggests that the firm may face significant challenges in meeting its immediate financial commitments without securing additional capital or restructuring its current liabilities.
Data from recent filings indicates that goodwill remains a significant component of the asset base at $18.5 million, which warrants further investigation given the company's persistent net losses and the potential for future impairment charges to further erode the already thin equity position.
The presence of substantial goodwill on the balance sheet, despite the company's ongoing financial distress, suggests that the carrying value of past acquisitions may not be supported by current operational performance. This creates a risk of non-cash write-downs that could further destabilize the company's reported financial position.
Quick answers to the most common questions about buying CAPS stock.
As of 2025, Capstone Holding Corp. (CAPS) had total assets of $51.4M including $23.0M in current assets.
Capstone Holding Corp. (CAPS) carries total debt of $28.9M, offset by $0.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Capstone Holding Corp. (CAPS) has total shareholders' equity (book value) of $12.5M ($2.34 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Capstone Holding Corp. (CAPS) reported a current ratio of 1.00x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.