The company's financial stability appears compromised by an eroding equity base that has declined from $9.0M in 2023Q4 to $4.7M in 2026Q1, alongside a debt-to-equity ratio of 2.37.
| Total Current Assets | 8.81M | 9.98M | 9.71M | 5.94M | 6.2M | 1.77M | 1.59M |
| Cash & Short-Term Investments | 2.35M | 3.02M | 2.06M | 1.42M | 2.02M | 356.37K | 82K |
| Cash Only | 2.35M | 3.02M | 2.06M | 1.42M | 2.02M | 356.37K | 82K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 283.06K | 363.94K | 509.76K | 128.17K | 55.23K | 28.35K | 13.57K |
| Days Sales Outstanding | 8.21 | 1.7 | 2.68 | 0.84 | 0.69 | 0.92 | 0.43 |
| Inventory | 5.23M | 5.99M | 6.45M | 4.16M | 3.75M | 1.33M | 1.44M |
| Days Inventory Outstanding | 47.31 | 45.96 | 55.61 | 42.99 | 72.33 | 67.66 | 74.16 |
| Other Current Assets | 943.99K | 613.6K | 220.07K | 56.84K | 288.93K | 0 | 0 |
| Total Non-Current Assets | 20.89M | 23.51M | 24.41M | 22.49M | 26.96M | 6.66M | 7.98M |
| Property, Plant & Equipment | 11.77M | 12.42M | 16.21M | 14.09M | 13.64M | 3.6M | 4.02M |
| Fixed Asset Turnover | 5.89x | 6.30x | 4.28x | 3.95x | 2.13x | 3.12x | 2.85x |
| Goodwill | 2.21M | 2.21M | 2.21M | 0 | 5.75M | 916K | 916K |
| Intangible Assets | 4.02M | 4.3M | 5.44M | 4.18M | 4.78M | 697.66K | 974.33K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.89M | 4.58M | 543.37K | 4.22M | 2.79M | 1.45M | 2.07M |
| Total Assets | 29.7M | 33.5M | 34.11M | 28.43M | 33.15M | 8.42M | 9.58M |
| Asset Turnover | 2.29x | 2.33x | 2.03x | 1.96x | 0.88x | 1.33x | 1.20x |
| Asset Growth % | 17.72% | -1.8% | 19.98% | -14.24% | 293.53% | -12.02% | - |
| Total Current Liabilities | 12.95M | 12.71M | 11.94M | 8.58M | 7.23M | 721.24K | 1.27M |
| Accounts Payable | 0 | 0 | 5.13M | 4.41M | 3.12M | 324.89K | 634.14K |
| Days Payables Outstanding | 28.65 | - | 44.29 | 45.51 | 60.15 | 16.5 | 32.56 |
| Short-Term Debt | 4.45M | 4.62M | 2.13M | 702.7K | 536.54K | 2.6K | 282.47K |
| Deferred Revenue (Current) | 83.87K | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 8.5M | 8.1M | 80.46K | 207.51K | 973.51K | 18.51K | 16.01K |
| Current Ratio | 0.68x | 0.79x | 0.81x | 0.69x | 0.86x | 2.45x | 1.25x |
| Quick Ratio | 0.28x | 0.31x | 0.27x | 0.21x | 0.34x | 0.61x | 0.12x |
| Cash Conversion Cycle | 26.87 | - | 14 | -1.68 | 12.88 | 52.08 | 42.04 |
| Total Non-Current Liabilities | 12.02M | 13.48M | 19.79M | 10.86M | 10.42M | 2.68M | 3.52M |
| Long-Term Debt | 6.78M | 7.23M | 9.21M | 2.4M | 2.38M | 815 | 524.34K |
| Capital Lease Obligations | 16.56M | 0 | 10.58M | 8.46M | 8.04M | 2.68M | 3M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 5.23M | 6.24M | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 24.96M | 26.19M | 31.73M | 19.44M | 17.65M | 3.4M | 4.79M |
| Total Debt | 11.23M | 11.85M | 25.52M | 14.32M | 13.18M | 3M | 4.11M |
| Net Debt | 8.88M | 8.83M | 23.46M | 12.89M | 11.16M | 2.65M | 4.03M |
| Debt / Equity | 2.37x | 1.62x | 10.72x | 1.59x | 0.85x | 0.60x | 0.86x |
| Debt / EBITDA | 6.40x | 4.00x | - | - | - | - | - |
| Net Debt / EBITDA | 5.06x | 2.98x | - | - | - | - | - |
| Interest Coverage | -7.89x | -2.89x | -2.34x | -22.14x | -138.96x | -37.43x | -17.25x |
| Total Equity | 4.74M | 7.31M | 2.38M | 8.99M | 15.51M | 5.03M | 4.78M |
| Equity Growth % | 395.86% | 206.93% | -73.52% | -42.03% | 208.44% | 5.14% | - |
| Book Value per Share | 0.22 | 0.44 | 0.25 | 0.97 | 1.58 | 0.51 | 0.49 |
| Total Shareholders' Equity | 4.74M | 7.31M | 2.38M | 8.99M | 15.51M | 5.03M | 4.78M |
| Common Stock | 25.37K | 19.99K | 9.82K | 8.99M | 15.51M | 5.03M | 4.78M |
| Retained Earnings | -8.34M | -4.67M | -730.91K | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and solvency strain
According to recent quarterly filings, HCWC's equity base has contracted significantly from $9.0M in 2023Q4 to $4.7M in 2026Q1, reflecting a persistent erosion of shareholder value driven by the company's inability to translate its regional retail acquisitions into a self-sustaining, profitable operating model.
The consistent decline in equity, coupled with widening retained earnings deficits, suggests that the company is consuming its capital base to fund ongoing operational losses. This trajectory indicates that the current roll-up strategy is failing to generate the necessary synergies to stabilize the balance sheet, warranting significant caution regarding long-term solvency.
Based on reported financial statements, HCWC's debt-to-equity ratio has exhibited extreme volatility, spiking to 11.27 in 2025Q1 before settling at 2.37 in 2026Q1, which suggests that management is relying on inconsistent debt financing to bridge gaps in operational cash flow rather than strategic capital deployment.
The high debt-to-equity levels relative to the company's negative net income imply that interest obligations may become increasingly difficult to service. Investors should monitor whether the company's reliance on debt is a temporary measure to fund integration or a structural necessity that limits future financial flexibility.
As reported in the 2026Q1 balance sheet, HCWC maintains a current ratio of 0.68, which, when paired with a cash position of only $2.3M, indicates a precarious liquidity buffer that may be insufficient to cover near-term liabilities and ongoing operational cash burn.
A current ratio consistently below 1.0 suggests that the company lacks the liquid assets required to meet its short-term obligations without external intervention. This liquidity constraint appears to be a primary risk factor, as it limits the company's ability to navigate potential market volatility or unexpected operational disruptions.
Based on historical data, HCWC's goodwill has remained stagnant at $2.2M since 2025Q1, which may be misleading given the company's deteriorating revenue growth and persistent operating losses, suggesting that the carrying value of these acquired assets warrants further investigation for potential impairment.
The failure to write down goodwill despite clear signs of operational underperformance in the retail segments may be artificially inflating the asset base. If the company is forced to recognize impairment charges, it would further erode the already thin equity position and potentially trigger restrictive debt covenants.
Quick answers to the most common questions about buying HCWC stock.
As of 2025, Healthy Choice Wellness Corp. (HCWC) had total assets of $33.5M including $10.0M in current assets.
Healthy Choice Wellness Corp. (HCWC) carries total debt of $11.9M, offset by $3.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Healthy Choice Wellness Corp. (HCWC) has total shareholders' equity (book value) of $7.3M ($0.44 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Healthy Choice Wellness Corp. (HCWC) reported a current ratio of 0.79x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.