The company's financial structure has shifted from a debt-free status to a D/E ratio of 0.88 as of 2026Q1, with net PPE of $34.7M now representing the vast majority of total assets.
| Total Current Assets | 10.88M | 7.26M | 2.37M | 2.26M | 3.14M |
| Cash & Short-Term Investments | 5.83M | 3.34M | 129.54K | 493.39K | 827.21K |
| Cash Only | 5.83M | 3.34M | 129.54K | 493.39K | 827.21K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 3.07M | 2.03M | 1.49M | 1.41M | 1.98M |
| Days Sales Outstanding | 38.23 | 55.88 | 34.76 | 70.06 | 29.58 |
| Inventory | 1.02M | 611.04K | 647.88K | 304.23K | 287.09K |
| Days Inventory Outstanding | 19.31 | 34.44 | 23.6 | 18.93 | 12.2 |
| Other Current Assets | 703.68K | 1.06M | 0 | 0 | 0 |
| Total Non-Current Assets | 34.98M | 35.47M | 6.24M | 5.97M | 6.88M |
| Property, Plant & Equipment | 34.68M | 35.17M | 6.24M | 5.97M | 6.88M |
| Fixed Asset Turnover | 0.93x | 0.38x | 2.51x | 1.23x | 3.56x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 600K | 300K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 45.85M | 42.72M | 8.61M | 8.23M | 10.02M |
| Asset Turnover | 0.55x | 0.31x | 1.82x | 0.89x | 2.44x |
| Asset Growth % | 159.73% | 396.02% | 4.61% | -17.81% | - |
| Total Current Liabilities | 5.8M | 4.33M | 2.37M | 1.37M | 1.83M |
| Accounts Payable | 1.83M | 802.23K | 1.51M | 461.94K | 456.29K |
| Days Payables Outstanding | 33.87 | 45.21 | 55 | 28.74 | 19.39 |
| Short-Term Debt | 1.52M | 1.52M | 0 | 680.4K | 680.4K |
| Deferred Revenue (Current) | 5.29M | 1.44M | 153.79K | 63.74K | 441.83K |
| Other Current Liabilities | 761.08K | 567.36K | 0 | 0 | 0 |
| Current Ratio | 1.87x | 1.68x | 1.00x | 1.66x | 1.72x |
| Quick Ratio | 1.70x | 1.54x | 0.73x | 1.44x | 1.56x |
| Cash Conversion Cycle | 23.67 | 45.11 | 3.35 | 60.25 | 22.39 |
| Total Non-Current Liabilities | 17.97M | 18.35M | 0 | 1.21M | 1.89M |
| Long-Term Debt | 17.97M | 18.35M | 0 | 1.21M | 1.89M |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 23.77M | 22.67M | 2.37M | 2.58M | 3.72M |
| Total Debt | 19.48M | 19.86M | 0 | 1.89M | 2.57M |
| Net Debt | 13.66M | 16.52M | -129.54K | 1.4M | 1.74M |
| Debt / Equity | 0.88x | 0.99x | - | 0.33x | 0.41x |
| Debt / EBITDA | 2.77x | 4.21x | - | 0.46x | 0.16x |
| Net Debt / EBITDA | 1.94x | 3.50x | -0.03x | 0.34x | 0.11x |
| Interest Coverage | 15.60x | 32.04x | 58.18x | 11.69x | 60.85x |
| Total Equity | 22.09M | 20.05M | 6.24M | 5.66M | 6.3M |
| Equity Growth % | 33.31% | 221.41% | 10.27% | -10.18% | - |
| Book Value per Share | 7.84 | 7.16 | 2.21 | 2.01 | 2.23 |
| Total Shareholders' Equity | 22.09M | 20.05M | 6.24M | 5.66M | 6.3M |
| Common Stock | 28.17K | 28.17K | 0 | 0 | 0 |
| Retained Earnings | 15.56M | 13.53M | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Asset base volatility
According to recent financial statements, EHLD's total assets surged from $17.6M in 2024Q2 to $45.9M by 2026Q1, yet this growth appears driven by lumpy asset acquisitions rather than organic operational scaling, suggesting a volatile trajectory that warrants caution regarding the company's long-term capital deployment strategy.
The rapid fluctuation in asset size indicates that the company's balance sheet is highly sensitive to discrete vessel transactions rather than steady business growth. Investors should monitor whether this expansion reflects a sustainable increase in productive capacity or merely temporary asset inflation that may require future impairment.
Based on EHLD's reported figures, the company maintained a debt-free status for several quarters before reintroducing $19.5M in debt by 2026Q1, resulting in a D/E ratio of 0.88 that remains conservative compared to the broader, more highly leveraged maritime shipping industry peer group.
The recent shift toward debt financing suggests a potential change in capital allocation strategy, possibly to fund fleet modernization or expansion. While the current leverage remains manageable, the sudden transition from zero debt to significant liabilities warrants close observation of the company's interest coverage and cash flow durability.
As reported in quarterly filings, EHLD's net PPE grew to $34.7M by 2026Q1, representing the vast majority of total assets, which underscores the company's heavy reliance on physical vessel ownership and exposes the balance sheet to significant depreciation and market-value impairment risks.
The high concentration of capital in fixed assets implies that the company's book value is highly sensitive to the secondary market prices of its shipping fleet. If regional charter demand softens, the carrying value of these assets may become disconnected from their actual revenue-generating potential.
Data from recent SEC filings shows EHLD's current ratio declined from a peak of 23.74 in 2024Q2 to 1.87 in 2026Q1, reflecting a significant reduction in cash liquidity as the company deployed capital into fixed assets and increased its short-term liability obligations.
While the current ratio remains above the standard threshold for solvency, the rapid compression of liquidity suggests that the company has moved from a cash-rich position to one more dependent on operational cash flow. This transition may reduce the company's ability to absorb sudden shocks in the volatile Mediterranean shipping market.
Based on an analysis of the balance sheet, the extreme volatility in retained earnings and asset values suggests that non-operating gains from vessel sales may be masking the underlying performance of the core shipping business, creating a potentially misleading picture of the company's true financial health.
The lack of consistent growth in retained earnings relative to the large swings in total assets indicates that the company's equity base is being driven by accounting revaluations rather than cumulative operational success. Investors should be wary of relying on headline book value as a proxy for the company's long-term earnings power.
Quick answers to the most common questions about buying EHLD stock.
As of 2025, Euroholdings Ltd. (EHLD) had total assets of $42.7M including $7.3M in current assets.
Euroholdings Ltd. (EHLD) carries total debt of $19.9M, offset by $3.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Euroholdings Ltd. (EHLD) has total shareholders' equity (book value) of $20.1M ($7.16 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Euroholdings Ltd. (EHLD) reported a current ratio of 1.68x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.