The company's financial resilience is strained by a sharp reduction in total assets to $19.7 million and a decline in deferred revenue to $323,000, limiting future visibility.
| Total Current Assets | 12.21M | 23.27M | 17.5M | 24.22M | 12.16M |
| Cash & Short-Term Investments | 678K | 1.33M | 2.54M | 7.09M | 5.86M |
| Cash Only | 678K | 1.33M | 2.54M | 7.09M | 5.86M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 8.07M | 15.37M | 4.66M | 15.2M | 5.22M |
| Days Sales Outstanding | 22.24 | 29.41 | 8.22 | 28.56 | 14.47 |
| Inventory | 319K | 537K | 2.18M | 95K | 397.23K |
| Days Inventory Outstanding | 0.9 | 1.43 | 4.1 | 0.19 | 1.15 |
| Other Current Assets | 66K | 25K | 5.05M | 1.54M | 495.77K |
| Total Non-Current Assets | 7.48M | 6.61M | 399K | 443K | 486K |
| Property, Plant & Equipment | 371K | 200.14K | 163K | 198K | 234K |
| Fixed Asset Turnover | 356.79x | 952.97x | 1268.20x | 981.01x | 562.50x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 5.35M | 4.81M | 0 | 0 | 0 |
| Other Non-Current Assets | 1.75M | 1.6M | 236K | 245K | 252K |
| Total Assets | 19.69M | 29.88M | 17.9M | 24.66M | 12.65M |
| Asset Turnover | 6.72x | 6.38x | 11.55x | 7.88x | 10.41x |
| Asset Growth % | -34.11% | 66.91% | -27.41% | 94.96% | - |
| Total Current Liabilities | 11.69M | 19.16M | 11.36M | 22.38M | 10.18M |
| Accounts Payable | 9.13M | 14.32M | 5.1M | 15.34M | 5.54M |
| Days Payables Outstanding | 25.64 | 38.23 | 9.6 | 30.77 | 16.08 |
| Short-Term Debt | 219K | 207K | 157K | 47K | 2.04M |
| Deferred Revenue (Current) | 323K | 1.87M | 3.85M | 1.51M | 1.82M |
| Other Current Liabilities | 218K | 204K | 422K | 6K | 403K |
| Current Ratio | 1.04x | 1.21x | 1.54x | 1.08x | 1.19x |
| Quick Ratio | 1.02x | 1.19x | 1.35x | 1.08x | 1.16x |
| Cash Conversion Cycle | -2.5 | -7.38 | 2.72 | -2.01 | -0.46 |
| Total Non-Current Liabilities | 1.27M | 462K | 529K | 210K | 39K |
| Long-Term Debt | 103K | 323K | 528K | 209K | 0 |
| Capital Lease Obligations | 72K | 139K | 0 | 0 | 38K |
| Deferred Tax Liabilities | 0 | 0 | 1K | 1K | 1K |
| Other Non-Current Liabilities | 1.1M | 0 | 0 | 0 | 0 |
| Total Liabilities | 12.96M | 19.62M | 11.89M | 22.59M | 10.22M |
| Total Debt | 460K | 734K | 685K | 294K | 2.12M |
| Net Debt | -218K | -596K | -1.85M | -6.79M | -3.74M |
| Debt / Equity | 0.07x | 0.07x | 0.11x | 0.14x | 0.87x |
| Debt / EBITDA | - | 0.80x | 0.13x | 0.06x | - |
| Net Debt / EBITDA | - | -0.65x | -0.35x | -1.35x | - |
| Interest Coverage | -27.82x | 7.76x | 160.09x | 103.71x | -1.34x |
| Total Equity | 6.73M | 10.26M | 6.01M | 2.07M | 2.43M |
| Equity Growth % | -34.42% | 70.6% | 190.2% | -14.59% | - |
| Book Value per Share | 0.27 | 0.42 | 0.25 | 0.09 | 0.10 |
| Total Shareholders' Equity | 6.73M | 10.26M | 6.01M | 2.07M | 2.43M |
| Common Stock | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | 2.45M | 5.98M | 4.89M | 952K | 985.89K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.12M | 1.13M | 1.12M | 7K | 10K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Severe liquidity and solvency
According to recent financial filings, DTCK's total assets have contracted from $32.7 million in 2023Q2 to $19.7 million by 2024Q4, reflecting a significant reduction in the firm's operational footprint and a diminished capacity to support its historical trading volumes in the competitive agricultural commodity market.
The consistent decline in total assets suggests that the company is scaling back its operations, likely in response to persistent margin pressure and reduced trade finance availability. This downward trajectory in asset size may indicate a business model that is struggling to maintain relevance in its core regional corridors.
As reported in quarterly balance sheets, DTCK's cash position has plummeted to $678,000 in 2024Q4 from a peak of $7.1 million in 2021Q4, leaving the firm with a razor-thin liquidity buffer that appears insufficient to absorb potential shocks in commodity price volatility or trade finance disruptions.
With a current ratio hovering near 1.04, the company possesses almost no margin for error regarding its short-term obligations. Investors should monitor whether this liquidity depletion necessitates emergency capital raises or further retrenchment from essential trading activities.
Based on the provided financial data, DTCK's equity base has experienced significant volatility, falling to $6.7 million in 2024Q4 from $11.6 million in 2024Q2, which suggests that recent operating losses are directly impairing the company's net worth and reducing its overall financial resilience.
The rapid decline in retained earnings highlights the impact of negative operating margins on the firm's capital structure. This trend warrants further investigation into whether the company can stabilize its equity position without external dilution or a fundamental pivot in its trading strategy.
As indicated by the company's reported figures, deferred revenue has dropped sharply to $323,000 in 2024Q4 from $3.8 million in 2022Q4, signaling a substantial reduction in future performance obligations and a potential weakening of the firm's pipeline for its logistics and agency services.
The collapse in deferred revenue suggests that the company's service-based revenue streams are drying up, further limiting the predictability of future cash inflows. This decline appears to confirm that the firm's competitive position in providing agency services is facing significant headwinds.
Analysis of the balance sheet reveals that DTCK's asset base is almost entirely devoid of tangible productive assets, with net PPE of only $371,000, which implies that the company's value is tied almost exclusively to volatile working capital and highly sensitive trade relationships.
The lack of significant fixed assets makes the company highly susceptible to rapid value impairment if trade flows are interrupted. This asset-light structure, while agile in theory, appears to offer little protection against the current cycle of revenue contraction and operational losses.
Quick answers to the most common questions about buying DTCK stock.
As of 2024, Davis Commodities Limited Ordinary Shares (DTCK) had total assets of $19.7M including $12.2M in current assets.
Davis Commodities Limited Ordinary Shares (DTCK) carries total debt of $0.5M, 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.
Davis Commodities Limited Ordinary Shares (DTCK) has total shareholders' equity (book value) of $6.7M ($0.27 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Davis Commodities Limited Ordinary Shares (DTCK) reported a current ratio of 1.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.