The company has maintained a disciplined capital structure, successfully reducing its debt-to-equity ratio from 1.48 in 2024Q1 to 0.93 as of 2026Q1.
| Total Current Assets | 708.93M | 690.66M | 547.59M | 392.81M | 258.12M | 172.42M | 132.37M | 46.56M |
| Cash & Short-Term Investments | 363.21M | 416.86M | 302.43M | 183.28M | 143.53M | 63.2M | 61.54M | 6.68M |
| Cash Only | 330.27M | 379.78M | 259.76M | 183.28M | 143.53M | 63.2M | 61.54M | 5.3M |
| Short-Term Investments | 32.94M | 36.32M | 42.67M | 0 | 0 | 0 | 0 | 1.38M |
| Accounts Receivable | 83.51M | 65.97M | 65.35M | 70.85M | 32.22M | 23.17M | 24.02M | 13.91M |
| Days Sales Outstanding | 18.47 | 18.67 | 20.55 | 36.74 | 24 | 20.42 | 31.83 | 41.52 |
| Inventory | 240.31M | 188.3M | 172.49M | 132.25M | 78.34M | 81.44M | 35.58M | 21.76M |
| Days Inventory Outstanding | 68.51 | 69.48 | 71.89 | 93.69 | 70.26 | 91.58 | 64.81 | 79.36 |
| Other Current Assets | 21.9M | 19.54M | 2.47M | 2.7M | 2.6M | 962K | 8.81M | 2.87M |
| Total Non-Current Assets | 521.28M | 511.8M | 522.88M | 454.1M | 160.48M | 14.36M | 5.97M | 2.94M |
| Property, Plant & Equipment | 472.69M | 463.74M | 481.43M | 423.54M | 157.22M | 11.07M | 5.94M | 2.4M |
| Fixed Asset Turnover | 2.96x | 2.78x | 2.41x | 1.66x | 3.12x | 37.40x | 46.37x | 50.87x |
| Goodwill | 12.9M | 12.59M | 12.59M | 12.59M | 0 | 0 | 0 | 0 |
| Intangible Assets | 4.94M | 4.98M | 6.2M | 8.37M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 16.39M | 17.52M | 12.64M | 8.17M | 3.18M | 3.21M | 33K | 535K |
| Total Assets | 1.23B | 1.2B | 1.07B | 846.91M | 418.6M | 186.78M | 138.34M | 49.5M |
| Asset Turnover | 1.19x | 1.07x | 1.08x | 0.83x | 1.17x | 2.22x | 1.99x | 2.47x |
| Asset Growth % | 32.45% | 12.33% | 26.4% | 102.32% | 124.12% | 35.01% | 179.49% | - |
| Total Current Liabilities | 342.94M | 342.25M | 264.38M | 205.77M | 102.64M | 57.04M | 48.91M | 22.38M |
| Accounts Payable | 98.78M | 105.41M | 78.16M | 69.76M | 31.57M | 25.14M | 11.46M | 10.47M |
| Days Payables Outstanding | 30.92 | 38.89 | 32.58 | 49.42 | 28.32 | 28.27 | 20.87 | 38.19 |
| Short-Term Debt | 106.67M | 100.33M | 0 | 0 | 207K | 345K | 392K | 89K |
| Deferred Revenue (Current) | 11.87M | 0 | 4.49M | 5.54M | 2M | 3.69M | 0 | 0 |
| Other Current Liabilities | 23.78M | 136.51M | 48.34M | 33.58M | 21.72M | 11.08M | 24.68M | 6.08M |
| Current Ratio | 2.07x | 2.02x | 2.07x | 1.91x | 2.51x | 3.02x | 2.71x | 2.08x |
| Quick Ratio | 1.37x | 1.47x | 1.42x | 1.27x | 1.75x | 1.59x | 1.98x | 1.11x |
| Cash Conversion Cycle | 56.06 | 49.25 | 59.86 | 81.02 | 65.94 | 83.73 | 75.77 | 82.69 |
| Total Non-Current Liabilities | 376.98M | 374.41M | 400.88M | 350.72M | 120.8M | 3.9M | 2.67M | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 237K | 711K | 0 |
| Capital Lease Obligations | 1.47B | 369.01M | 395.62M | 343.62M | 117.43M | 2.35M | 1.84M | 0 |
| Deferred Tax Liabilities | 2.21M | 797K | 941K | 3.79M | 472K | 286K | 0 | 0 |
| Other Non-Current Liabilities | 8.04M | 4.6M | 4.32M | 3.3M | 2.89M | 1.03M | 116K | 0 |
| Total Liabilities | 719.92M | 716.66M | 665.26M | 556.49M | 223.44M | 60.95M | 51.57M | 22.38M |
| Total Debt | 474.88M | 469.34M | 484.28M | 403.24M | 148.21M | 5.27M | 4.03M | 89K |
| Net Debt | 144.61M | 89.56M | 224.52M | 219.95M | 4.68M | -57.93M | -57.51M | -5.21M |
| Debt / Equity | 0.93x | 0.97x | 1.20x | 1.39x | 0.76x | 0.04x | 0.05x | 0.00x |
| Debt / EBITDA | 2.83x | 3.06x | 3.47x | 3.57x | 4.07x | 0.13x | 0.09x | 0.02x |
| Net Debt / EBITDA | 0.86x | 0.58x | 1.61x | 1.95x | 0.13x | -1.44x | -1.29x | -1.06x |
| Interest Coverage | 319.04x | 806.95x | 550.27x | 93.74x | 55.87x | 123.09x | 985.24x | - |
| Total Equity | 510.3M | 485.8M | 405.22M | 290.42M | 195.16M | 125.83M | 86.77M | 27.11M |
| Equity Growth % | 78.07% | 19.89% | 39.53% | 48.81% | 55.1% | 45.02% | 220.01% | - |
| Book Value per Share | 13.88 | 12.71 | 9.84 | 7.10 | 4.85 | 3.13 | 9.14 | 2.86 |
| Total Shareholders' Equity | 510.3M | 485.8M | 405.22M | 290.42M | 195.16M | 125.83M | 86.77M | 27.11M |
| Common Stock | 1.85M | 1.86M | 2.05M | 2.05M | 2.03M | 554K | 475K | 475K |
| Retained Earnings | 433.5M | 400.87M | 298.86M | 177.7M | 83.59M | 60.56M | 32.8M | -6.03M |
| Treasury Stock | -12.27M | 0 | -11.82M | -1.59M | -231K | 0 | 0 | 0 |
| Accumulated OCI | -175K | -5.6M | -4.14M | -1.07M | 804K | -165K | -288K | 76K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Logistics and Tariff Exposure
According to reported financial statements, GCT has successfully grown its total assets from $846.9M in 2023Q4 to $1.2B by 2026Q1, suggesting a deliberate strategy to scale its physical infrastructure despite the inherent volatility associated with managing large-parcel logistics across international borders.
The consistent growth in total assets relative to liabilities indicates that the company is effectively reinvesting earnings into its operational footprint. Investors should monitor whether this asset expansion continues to yield commensurate revenue growth, as the current trajectory suggests a capital-intensive path to market dominance.
As reported in recent filings, GCT has maintained a debt-to-equity ratio that declined from 1.48 in 2024Q1 to 0.93 in 2026Q1, reflecting a disciplined approach to managing leverage even as the company aggressively expands its warehouse capacity and inventory holdings.
The reduction in the D/E ratio suggests that the company is increasingly funding its growth through equity and retained earnings rather than incremental debt. This deleveraging trend may provide a necessary buffer against the cyclical risks inherent in the furniture and large-parcel logistics sector.
Based on the provided balance sheet data, GCT maintains a current ratio of 2.07 as of 2026Q1, which appears to provide a sufficient cushion to manage short-term working capital requirements and the inherent volatility of cross-border supply chain operations.
The stability of the current ratio above 2.0 suggests that the company is well-positioned to meet its near-term obligations without immediate reliance on external financing. However, given the high inventory turnover requirements, investors should remain cautious regarding the liquidity of these current assets if demand for large-parcel goods softens.
Analysis of the balance sheet reveals that retained earnings have climbed steadily from $177.7M in 2023Q4 to $433.5M in 2026Q1, indicating that the company's internal profitability is the primary engine fueling its equity base expansion over the last ten quarters.
The consistent accumulation of retained earnings suggests that the business model is fundamentally profitable, even when accounting for the capital-intensive nature of its logistics network. This trend provides a strong foundation for future growth, provided that management continues to allocate this capital toward high-return infrastructure projects.
Quick answers to the most common questions about buying GCT stock.
As of 2025, GigaCloud Technology Inc. (GCT) had total assets of $1.20B including $690.7M in current assets.
GigaCloud Technology Inc. (GCT) carries total debt of $469.3M, offset by $416.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
GigaCloud Technology Inc. (GCT) has total shareholders' equity (book value) of $485.8M ($12.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
GigaCloud Technology Inc. (GCT) reported a current ratio of 2.02x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.