The company's balance sheet is under significant pressure with a P/B ratio of 19.49, suggesting that asset valuations may be disconnected from the firm's inability to generate positive returns.
| Metric | Dec'24 | Dec'23 | Dec'22 |
|---|
| Total Current Assets | 5.38M | 5.29M | 4.05M |
| Cash & Short-Term Investments | 1M | 956.98K | 441.28K |
| Cash Only | 1M | 956.98K | 441.28K |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 4.32M | 4.26M | 3.6M |
| Days Sales Outstanding | 150.38 | 146.05 | 262.57 |
| Inventory | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 0 | 0 | 0 |
| Total Non-Current Assets | 4.89M | 3.26M | 3.05M |
| Property, Plant & Equipment | 4.04M | 3.08M | 2.9M |
| Fixed Asset Turnover | 2.59x | 3.46x | 1.73x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 9.32K | 65.4K | 152.03K |
| Long-Term Investments | 69.5K | 0 | 0 |
| Other Non-Current Assets | 772.62K | 116.02K | 0 |
| Total Assets | 10.27M | 8.55M | 7.1M |
| Asset Turnover | 1.02x | 1.25x | 0.70x |
| Asset Growth % | 20.15% | 20.38% | - |
| Total Current Liabilities | 4.58M | 3.51M | 3.06M |
| Accounts Payable | 33.35K | 609.28K | 471.52K |
| Days Payables Outstanding | 1.77 | 29.02 | 47.17 |
| Short-Term Debt | 3.34M | 2.27M | 2.18M |
| Deferred Revenue (Current) | 0 | 0 | 122.81K |
| Other Current Liabilities | 0 | 0 | 1 |
| Current Ratio | 1.17x | 1.50x | 1.32x |
| Quick Ratio | 1.17x | 1.50x | 1.32x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 3.43M | 2.33M | 2.43M |
| Long-Term Debt | 2.91M | 2.11M | 2.42M |
| Capital Lease Obligations | 170.72K | 90.08K | 9.98K |
| Deferred Tax Liabilities | 182.1K | 133.49K | 0 |
| Other Non-Current Liabilities | 173.55K | 0 | 0 |
| Total Liabilities | 8.01M | 5.85M | 5.49M |
| Total Debt | 6.51M | 4.53M | 4.63M |
| Net Debt | 5.51M | 3.57M | 4.19M |
| Debt / Equity | 2.88x | 1.68x | 2.87x |
| Debt / EBITDA | - | 3.20x | - |
| Net Debt / EBITDA | - | 2.52x | - |
| Interest Coverage | -382.50x | 7.26x | -10.68x |
| Total Equity | 2.26M | 2.7M | 1.61M |
| Equity Growth % | -16.37% | 67.83% | - |
| Book Value per Share | 0.10 | 0.12 | 0.07 |
| Total Shareholders' Equity | 2.11M | 2.57M | 1.51M |
| Common Stock | 209 | 1 | 1 |
| Retained Earnings | -83.31M | 177.65K | -783.04K |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 85.42M | 2.39M | 2.29M |
| Minority Interest | 151.63K | 137.34K | 103.83K |
Imminent liquidity and insolvency
As reported in financial statements, CIGL's balance sheet trajectory appears increasingly precarious, with the firm's inability to generate positive operating cash flow suggesting that the current capital structure is insufficient to support the ongoing maintenance of its specialized I-Man fleet and broader operational requirements in Singapore.
The persistent negative operating margins indicate that the company is consuming its capital base rather than growing it, which signals a fundamental breakdown in the business model's viability. Investors should monitor whether the firm can pivot toward a sustainable cost structure before the current asset base is fully eroded by depreciation and operational losses.
Based on the company's reported figures, the $1,000,284 cash position represents a dangerously thin buffer against the firm's massive operating losses, leaving little room for error in managing the high fixed costs associated with its security technology and mobile facility maintenance service platforms.
The current liquidity profile suggests that the company may face an imminent funding gap, potentially necessitating dilutive equity issuance or emergency financing. Without a significant improvement in revenue or a drastic reduction in overhead, the firm's ability to meet its short-term obligations remains highly questionable.
According to recent filings, the company's asset base is heavily weighted toward specialized vehicular platforms and technology hardware, which may be subject to significant impairment risk given the lack of top-line growth and the failure of these assets to drive meaningful operational profitability.
The reliance on the I-Man fleet as a core competitive differentiator creates a high fixed-cost burden that appears to be underutilized. Analysts should investigate whether the carrying value of these assets reflects their true economic utility, as further write-downs could severely impact the company's already strained equity position.
Data from recent filings indicates that the headline balance sheet may mask significant off-balance-sheet pressures, particularly regarding the long-term commitments associated with Singapore's Progressive Wage Model and the potential for mounting accounts receivable aging from government and industrial clients.
The divergence between the company's stated technological moat and its actual financial performance suggests that the balance sheet may be distorted by capitalized R&D or deferred costs that do not translate into cash. Investors should be wary of the potential for these hidden operational realities to trigger a sudden liquidity crisis.
Quick answers to the most common questions about buying CIGL stock.
As of 2024, Concorde International Group Ltd Class A Ordinary Shares (CIGL) had total assets of $10.3M including $5.4M in current assets.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) carries total debt of $6.5M, offset by $1.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) has total shareholders' equity (book value) of $2.1M ($0.10 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Concorde International Group Ltd Class A Ordinary Shares (CIGL) reported a current ratio of 1.17x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.