The company's debt-to-equity ratio has expanded to 0.59 in 2025Q4, up from 0.13 in 2021Q4, indicating an increasing reliance on external leverage.
| Total Current Assets | 85.78M | 78.08M | 72.87M | 76.76M | 76.11M | 40.51M | 29.75M | 29.05M | 12.33M | 9.91M |
| Cash & Short-Term Investments | 29.07M | 31.22M | 22.21M | 18.4M | 28.9M | 13.29M | 8.39M | 9.74M | 4.81M | 5.28M |
| Cash Only | 28.17M | 29.12M | 22.21M | 18.4M | 24.74M | 12.65M | 6.6M | 9.74M | 4.81M | 5.28M |
| Short-Term Investments | 896.95K | 2.1M | 0 | 0 | 4.16M | 636.93K | 1.79M | 0 | 0 | 0 |
| Accounts Receivable | 49.27M | 42.34M | 48.91M | 54.15M | 44.69M | 25.75M | 19.49M | 16.4M | 6.76M | 4.37M |
| Days Sales Outstanding | 109.33 | 108.21 | 118.72 | 130.01 | 129.38 | 105.13 | 109.58 | 122.31 | 78.71 | 55 |
| Inventory | 0 | 0 | 87.6K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | 0.28 | - | - | - | - | - | - | - |
| Other Current Assets | 7.44M | 4.52M | 1.67M | 0 | 0 | 1.45M | 1.23M | 2.7M | 578.39K | 260.16K |
| Total Non-Current Assets | 32.33M | 31.95M | 22.44M | 24.55M | 5.11M | 4.4M | 2.36M | 1.89M | 1.2M | 560.69K |
| Property, Plant & Equipment | 24.62M | 23.95M | 20.93M | 20.6M | 600.79K | 452.47K | 566.59K | 333.9K | 273.35K | 326.82K |
| Fixed Asset Turnover | 6.68x | 5.96x | 7.18x | 7.38x | 209.83x | 197.62x | 114.60x | 146.57x | 114.73x | 88.81x |
| Goodwill | 1.44M | 1.47M | 0 | 2.36M | 2.44M | 2.12M | 447.79K | 173.56K | 195.08K | 0 |
| Intangible Assets | 2.06M | 2.25M | 726.17K | 970.04K | 1.05M | 1.14M | 427.77K | 260.06K | 305.46K | 486.21K |
| Long-Term Investments | 3.66M | 2.99M | 456.6K | 610.39K | 1.01M | 680.13K | 914.01K | 493.71K | 474.94K | 45.14K |
| Other Non-Current Assets | 481.76K | 594.6K | 252.66K | -327.04K | -607.77K | -203.25K | -338.22K | 119.37K | -351.16K | -371.96K |
| Total Assets | 118.11M | 110.03M | 95.32M | 101.88M | 82.73M | 45.35M | 32.66M | 30.94M | 13.52M | 10.47M |
| Asset Turnover | 1.39x | 1.30x | 1.58x | 1.49x | 1.52x | 1.97x | 1.99x | 1.58x | 2.32x | 2.77x |
| Asset Growth % | 7.34% | 15.43% | -6.44% | 23.15% | 82.41% | 38.85% | 5.55% | 128.85% | 29.13% | - |
| Total Current Liabilities | 54.36M | 39.8M | 26.31M | 30.38M | 23.03M | 16.35M | 11.27M | 12.79M | 8.21M | 6.26M |
| Accounts Payable | 2.52M | 949.14K | 690.03K | 343.6K | 559.45K | 268.66K | 196.83K | 1.45M | 239.16K | 58.59K |
| Days Payables Outstanding | 7.06 | 3.15 | 2.17 | 1.13 | 2.38 | 1.68 | 1.74 | 16.98 | 4.68 | 1.22 |
| Short-Term Debt | 32.57M | 23.23M | 10.55M | 14.47M | 7.54M | 2.16M | 2.18M | 2.55M | 0 | 0 |
| Deferred Revenue (Current) | 2.47M | 1.14M | 918.47K | 587.14K | 326.91K | 755.18K | 124.19K | 200.84K | 208.37K | 49.61K |
| Other Current Liabilities | 2.63M | 0 | 0 | 0 | 0 | 0 | 109.25K | 125.08K | 0 | 0 |
| Current Ratio | 1.58x | 1.96x | 2.77x | 2.53x | 3.30x | 2.48x | 2.64x | 2.27x | 1.50x | 1.58x |
| Quick Ratio | 1.58x | 1.96x | 2.77x | 2.53x | 3.30x | 2.48x | 2.64x | 2.27x | 1.50x | 1.58x |
| Cash Conversion Cycle | - | - | 116.83 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 6.17M | 6.31M | 3.5M | 3.7M | 1.96M | 380.66K | 0 | 0 | 0 | 60 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 9.64K | 22.55K | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 1.3M | 1.64M | 104.11K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 3.97M | 378.34K | 185.38K | 150.55K | 155.03K | 163.16K | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 896.75K | 4.3M | 3.21M | 3.55M | 1.8M | 194.94K | 0 | 0 | 0 | 60 |
| Total Liabilities | 60.52M | 46.11M | 29.81M | 34.08M | 25M | 16.73M | 11.27M | 12.79M | 8.21M | 6.26M |
| Total Debt | 33.87M | 26.23M | 11.37M | 14.47M | 7.55M | 2.18M | 2.18M | 2.55M | 0 | 0 |
| Net Debt | 5.69M | -2.88M | -10.84M | -3.92M | -17.19M | -10.47M | -4.42M | -7.19M | -4.81M | -5.28M |
| Debt / Equity | 0.59x | 0.41x | 0.17x | 0.21x | 0.13x | 0.08x | 0.10x | 0.14x | - | - |
| Debt / EBITDA | - | - | 8.77x | 1.74x | 0.83x | 0.57x | - | 1.32x | - | - |
| Net Debt / EBITDA | - | - | -8.37x | -0.47x | -1.90x | -2.76x | - | -3.72x | -2.75x | -7.90x |
| Interest Coverage | - | - | - | - | - | - | - | - | - | - |
| Total Equity | 57.58M | 63.92M | 65.51M | 67.8M | 57.73M | 28.62M | 21.4M | 18.16M | 5.31M | 4.21M |
| Equity Growth % | -9.91% | -2.43% | -3.38% | 17.44% | 101.73% | 33.75% | 17.85% | 241.83% | 26.23% | - |
| Book Value per Share | 2.09 | 2.54 | 2.83 | 3.22 | 3.29 | 1.95 | 1.55 | 1.56 | 0.39 | 0.32 |
| Total Shareholders' Equity | 55.54M | 62.51M | 64.58M | 66.55M | 56.69M | 27.35M | 20.79M | 17.48M | 4.83M | 4.2M |
| Common Stock | 2.8K | 2.56K | 2.37K | 2.24K | 2.03K | 1.59K | 1.39K | 1.36K | 1.13K | 1.13K |
| Retained Earnings | -7.4M | -51.73K | 5.03M | 6.32M | 2.73M | -2.68M | -4.51M | -524.62K | -2.52M | -2.98M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2.76M | 1.21M | 1.37M | 4.52M | 5.44M | 1.44M | 1.02M | 716.79K | 233.4K | 66.36K |
| Minority Interest | 2.05M | 1.41M | 927.8K | 1.25M | 1.04M | 1.27M | 608.16K | 676.28K | 477.11K | 4.03K |
Rising leverage and losses
According to the latest financial statements, CLPS has seen its total debt climb to $33.9M in 2025Q4 from $7.5M in 2021Q4, a trend that suggests the company is increasingly relying on external financing to support its operations as internal cash generation remains persistently elusive.
The steady increase in debt relative to equity indicates a shift toward a more leveraged capital structure that may heighten financial risk if operating losses continue. Investors should monitor whether this debt accumulation is being deployed into productive assets or simply serving as a bridge for ongoing operational cash burn.
Based on reported figures, the debt-to-equity ratio has expanded to 0.59 in 2025Q4, up from 0.13 in 2021Q4, which indicates that the company is utilizing more debt to fund its business model despite the absence of consistent net income to service these obligations.
While the current leverage remains manageable in absolute terms, the upward trajectory of debt in the face of negative net income warrants caution regarding future solvency. The reliance on debt to sustain operations suggests that the company's core business model is not yet self-funding, potentially limiting strategic flexibility.
As reported in recent filings, the current ratio has compressed to 1.58 in 2025Q4 from a peak of 3.30 in 2021Q4, reflecting a tightening liquidity position as the company consumes cash to cover its operational requirements and service its growing debt obligations.
The decline in the current ratio suggests that the company's ability to cover short-term liabilities is diminishing, which may necessitate further financing if cash burn persists. This trend appears to be a direct consequence of the mismatch between project-based revenue collection and the ongoing costs of maintaining a large, specialized workforce.
Data from the balance sheet shows that retained earnings have shifted to a negative $7.4M in 2025Q4, a significant reversal from the $8.4M surplus reported in 2022Q2, which highlights the impact of sustained operational losses on the company's overall equity base.
The erosion of retained earnings suggests that the company is effectively consuming its shareholder capital to fund its current growth strategy. This trend may indicate that the business model is struggling to achieve the necessary scale to offset its high variable costs, potentially leading to future dilution if equity financing is required.
Quick answers to the most common questions about buying CLPS stock.
As of 2025, CLPS Incorporation (CLPS) had total assets of $118.1M including $85.8M in current assets.
CLPS Incorporation (CLPS) carries total debt of $33.9M, offset by $29.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CLPS Incorporation (CLPS) has total shareholders' equity (book value) of $55.5M ($2.09 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CLPS Incorporation (CLPS) reported a current ratio of 1.58x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.