While the current ratio improved to 13.36 in 2026Q1, this liquidity buffer appears to be driven by equity issuance rather than operational success, as evidenced by accumulated retained earnings of -$32.5 million.
| Total Current Assets | 6.78M | 8.65M | 3.85M | 1.03M | 4.81M | 9.21M | 1.01M | 2.44M | 4.69M | 476.99K | 488.76K | 1.01M | 7.72K |
| Cash & Short-Term Investments | 6.02M | 7.96M | 3.61M | 464.99K | 4.45M | 8.68M | 583.33K | 2.19M | 4.46M | 394.4K | 340.07K | 832.01K | 7.41K |
| Cash Only | 6.01M | 7.93M | 3.59M | 428.25K | 4.34M | 8.68M | 583.33K | 2.19M | 4.46M | 394.4K | 340.07K | 832.01K | 7.41K |
| Short-Term Investments | 8.87K | 22.89K | 24.66K | 36.73K | 105.47K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 9.65K | 27.13K | 5.58K | 34.05K | 112.82K | 205.55K | 190.56K | 137.34K | 50.53K | 26.88K | 35.9K | 106.89K | 0 |
| Days Sales Outstanding | 107.04 | 38.82 | 5.12 | 28.21 | 116.45 | 52.3 | 41.43 | 34.33 | 59.86 | 10.92 | 38.82 | 94.54 | - |
| Inventory | 90.7K | 99.81K | 126.07K | 282.07K | 103.77K | 22.89K | 42.5K | 62.93K | 69.79K | 47.43K | 104.83K | 51.57K | 0 |
| Days Inventory Outstanding | 250.79 | 125.51 | 118.62 | 270.31 | 114.47 | 7.35 | 11.12 | 17.11 | 184.72 | 23.84 | 669.79 | 139.77 | - |
| Other Current Assets | 79.3K | 69.39K | 0 | 159.3K | 0 | 5.97K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 1.01M | 238.38K | 233.95K | 4.31M | 4.52M | 4.81M | 4.59M | 4.79M | 4.59M | 13.55K | 33.24K | 26.13K | 23.1K |
| Property, Plant & Equipment | 218.78K | 79.21K | 168.75K | 4.28M | 4.48M | 4.77M | 4.58M | 4.78M | 4.58M | 6.34K | 8.52K | 1.41K | 0 |
| Fixed Asset Turnover | 0.83x | 3.22x | 2.36x | 0.10x | 0.08x | 0.30x | 0.37x | 0.31x | 0.07x | 141.74x | 39.63x | 293.09x | - |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 256.1K | 159.18K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 539.21K | 0 | 65.19K | 24.14K | 33.26K | 33.93K | 6.63K | 6.63K | 7.87K | 7.21K | 24.73K | 24.73K | 23.1K |
| Total Assets | 7.8M | 8.89M | 4.08M | 5.33M | 9.32M | 14.02M | 5.59M | 7.23M | 9.28M | 490.53K | 522.01K | 1.03M | 7.72K |
| Asset Turnover | 0.02x | 0.03x | 0.10x | 0.08x | 0.04x | 0.10x | 0.30x | 0.20x | 0.03x | 1.83x | 0.65x | 0.40x | 2.06x |
| Asset Growth % | 158.71% | 117.77% | -23.51% | -42.79% | -33.51% | 150.69% | -22.62% | -22.09% | 1791.4% | -6.03% | -49.4% | 13269.25% | - |
| Total Current Liabilities | 507.91K | 366.47K | 876.98K | 1.66M | 1.39M | 571.44K | 527.56K | 433K | 211.98K | 481.79K | 431.44K | 499.66K | 23.57K |
| Accounts Payable | 454.31K | 358.01K | 702.07K | 435.02K | 267.69K | 293.35K | 216.34K | 192.49K | 168.58K | 449.26K | 368.51K | 275.93K | 8.85K |
| Days Payables Outstanding | 1.23K | 450.17 | 660.56 | 416.88 | 295.27 | 94.15 | 56.6 | 52.35 | 446.22 | 225.79 | 2.35K | 747.78 | 646.27 |
| Short-Term Debt | 53.6K | 0 | 0 | 1M | 0 | 132.62K | 194.13K | 50K | 0 | 0 | 0 | 82.9K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 271 | 57.38K | 127.67K | 36.18K | 31.73K | 57.73K | 140.03K | -261.78K |
| Other Current Liabilities | 0 | 0 | 68.2K | 132.46K | 6.5K | 23.63K | 6.33K | 16.82K | 43.39K | 0 | 0 | 415.95K | 120K |
| Current Ratio | 13.36x | 23.60x | 4.39x | 0.62x | 3.47x | 16.12x | 1.91x | 5.64x | 22.13x | 0.99x | 1.13x | 2.01x | 0.33x |
| Quick Ratio | 13.18x | 23.32x | 4.24x | 0.45x | 3.39x | 16.08x | 1.83x | 5.49x | 21.80x | 0.89x | 0.89x | 1.91x | 0.33x |
| Cash Conversion Cycle | -871.71 | -285.84 | -536.82 | -118.36 | -64.35 | -34.5 | -4.05 | -0.91 | -201.64 | -191.03 | -1.65K | -513.47 | - |
| Total Non-Current Liabilities | 59.21K | 5.95M | 8.11K | 130.85K | 178.29K | 328.32K | 261.16K | 107K | 204.77K | 81.34K | 468 | 911 | 23.57K |
| Long-Term Debt | 59.21K | 0 | 0 | 0 | 0 | 25.93K | 202.74K | 0 | 0 | 81.34K | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 8.11K | 118.52K | 165.95K | 302.39K | 41.29K | 94.67K | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 5.95M | 0 | 12.34K | 12.34K | 0 | 17.14K | 12.34K | 0 | 0 | 468 | 911 | 0 |
| Total Liabilities | 567.12K | 6.31M | 885.09K | 1.79M | 1.57M | 899.76K | 788.72K | 540K | 211.98K | 563.13K | 431.91K | 500.57K | 23.57K |
| Total Debt | 112.81K | 8.46K | 114.82K | 1.21M | 279.01K | 582.5K | 491.53K | 188.94K | 0 | 81.34K | 0 | 82.9K | 120K |
| Net Debt | -5.9M | -7.93M | -3.47M | 780.43K | -4.06M | -8.1M | -91.79K | -2M | -4.46M | -313.06K | -340.07K | -749.11K | 112.59K |
| Debt / Equity | 0.02x | 0.00x | 0.04x | 0.34x | 0.04x | 0.04x | 0.10x | 0.03x | - | - | - | 0.16x | - |
| Debt / EBITDA | -0.02x | - | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 1.21x | - | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | - | - | -31.79x | -121.88x | - | -84.65x | -609.91x | -1813.60x | -3.59x | -4.92x | -2300.64x | - | - |
| Total Equity | 7.23M | 2.57M | 3.2M | 3.55M | 7.76M | 13.12M | 4.8M | 6.69M | 9.07M | -72.6K | 90.1K | 531K | -15.85K |
| Equity Growth % | 137.55% | -19.48% | -9.88% | -54.29% | -40.88% | 173.11% | -28.17% | -26.22% | 12587.34% | -180.58% | -83.03% | 3449.34% | - |
| Book Value per Share | 38.97 | 13.87 | 19.03 | 23.51 | 47.52 | 83.88 | 31.28 | 43.56 | 63.99 | -0.56 | 0.69 | 21.19 | -0.64 |
| Total Shareholders' Equity | 7.23M | 2.57M | 3.2M | 3.55M | 7.76M | 13.12M | 4.8M | 6.69M | 9.07M | -72.6K | 90.1K | 531K | -15.85K |
| Common Stock | 1.02K | 915 | 7.15K | 6.48K | 65.3K | 43.26K | 40.96K | 40.96K | 40.91K | 34.58K | 34.58K | 6.58K | 4K |
| Retained Earnings | -32.5M | -31.02M | -25.78M | -22.58M | -17.86M | -12.94M | -9.72M | -7.18M | -4M | -1.98M | -657.71K | -216.81K | -22.85K |
| Treasury Stock | -649.01K | -494.39K | -1.06M | -434.05K | -2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -6.93K | -31.4K | -25.19K | -13.56K | -6.54K | -4 | 98.71K | 0 | -31.54K | -3.54K | -1.36K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity depletion and dilution
As reported in recent financial filings, Focus Universal's total assets have fluctuated significantly, dropping from $5.3 million in 2023Q4 to $7.8 million in 2026Q1, reflecting a highly unstable capital structure that appears increasingly dependent on external financing rather than organic asset accumulation or operational growth.
The erratic movement in total assets suggests that the company lacks a stable foundation for long-term value creation. Investors should monitor whether the recent increase in assets is merely a temporary artifact of capital raises rather than a sign of meaningful investment in productive capacity.
Based on the company's reported figures, the current ratio improved to 13.36 in 2026Q1 from 0.62 in 2023Q4, yet this metric appears misleading as it reflects a massive influx of cash from equity issuance rather than an improvement in the underlying efficiency of working capital management.
While the current ratio suggests a strong short-term buffer, the company's persistent negative operating margins indicate that this cash is being consumed rapidly to fund ongoing losses. The reliance on cash-on-hand to maintain liquidity highlights a precarious position where the firm remains vulnerable to further operational setbacks.
According to financial statements, retained earnings have deteriorated to -$32.5 million as of 2026Q1, signaling that years of operational losses have systematically eroded shareholder equity and necessitated frequent capital raises that likely dilute existing investors without achieving a corresponding improvement in the company's core business performance.
The consistent decline in retained earnings underscores a fundamental inability to generate profitable returns on invested capital. This trend suggests that the company's equity base is being used to subsidize an unproven business model, which warrants significant caution regarding the long-term sustainability of the current capital structure.
As indicated by the balance sheet data, the emergence of $256.1K in goodwill by 2026Q1, following periods of zero intangible assets, suggests potential future impairment risks if the acquired assets fail to contribute to the company's struggling revenue base or if the USIP platform fails to gain traction.
The sudden appearance of goodwill on a balance sheet characterized by negative gross margins is a red flag that requires further investigation into the nature of these acquisitions. Investors should be wary that these intangible assets may eventually require write-downs, further pressuring the company's already strained equity position.
Quick answers to the most common questions about buying FCUV stock.
As of 2025, Focus Universal Inc. (FCUV) had total assets of $8.9M including $8.6M in current assets.
Focus Universal Inc. (FCUV) carries total debt of $0.0M, offset by $8.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Focus Universal Inc. (FCUV) has total shareholders' equity (book value) of $2.6M ($13.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Focus Universal Inc. (FCUV) reported a current ratio of 23.60x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.