Despite a negligible debt-to-equity ratio of 0.03, the firm's retained earnings have eroded from $15.1M in 2023Q4 to a deficit of $445.6K by 2025Q4.
| Total Current Assets | 93.76M | 69.69M | 3.94M | 2.36M | 3.92M | 13.59M |
| Cash & Short-Term Investments | 67.47M | 63.54M | 3.24M | 1.98M | 1.67M | 4.42M |
| Cash Only | 67.47M | 63.54M | 3.24M | 1.98M | 1.67M | 4.42M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 24.72M | 553.36K | 694.02K | 2.69M | 2.23M | 9M |
| Days Sales Outstanding | 3.81K | 77.47 | 96.53 | 535.7 | 280.46 | 2.26K |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 73.78K | 3.75M | 10.19K | -2.33M | 1 | 0 |
| Total Non-Current Assets | 12.49M | 2.04M | 3.38M | 337.42K | 172.02K | 1.26M |
| Property, Plant & Equipment | 693.51K | 381.55K | 1.22M | 59.1K | 172.02K | 1.26M |
| Fixed Asset Turnover | 3.42x | 6.83x | 2.16x | 30.96x | 16.87x | 1.15x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 10.85M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 500.03K | 500K | 2.12M | 278.31K | 1 | 0 |
| Total Assets | 106.25M | 71.73M | 4.38M | 2.69M | 4.09M | 14.86M |
| Asset Turnover | 0.02x | 0.04x | 0.60x | 0.68x | 0.71x | 0.10x |
| Asset Growth % | 48.12% | 1539.06% | 62.4% | -34.16% | -72.45% | - |
| Total Current Liabilities | 3.44M | 5.11M | 1.82M | 641.36K | 468.2K | 1.94M |
| Accounts Payable | 59.2K | 59.2K | 0 | 0 | 0 | 0 |
| Days Payables Outstanding | 25.12 | 2.71 | - | - | - | - |
| Short-Term Debt | 1M | 480.62K | 1.02M | 58.2K | 9.66K | 0 |
| Deferred Revenue (Current) | 0 | 128.4K | 194.56K | 149.49K | 36.99K | 69.85K |
| Other Current Liabilities | 494.21K | 113.68K | -45 | -2.47M | 22 | 0 |
| Current Ratio | 27.28x | 13.63x | 2.16x | 3.68x | 8.37x | 7.01x |
| Quick Ratio | 27.28x | 13.63x | 2.16x | 3.68x | 8.37x | 7.01x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 1.67M | 2.01M | 356.87K | 378.35K | 469.94K | 0 |
| Long-Term Debt | 1.51M | 2.01M | 319.26K | 378.09K | 437.02K | 0 |
| Capital Lease Obligations | 167.18K | 0 | 37.61K | 0 | 32.83K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.11M | 7.12M | 2.18M | 1.02M | 938.15K | 1.94M |
| Total Debt | 2.67M | 2.79M | 1.49M | 469.38K | 543.96K | 234.76K |
| Net Debt | -64.8M | -60.75M | -21.19M | -1.51M | -1.12M | -4.19M |
| Debt / Equity | 0.03x | 0.04x | 0.68x | 0.28x | 0.17x | 0.02x |
| Debt / EBITDA | - | 5.45x | 2.71x | 0.87x | 0.30x | 0.16x |
| Net Debt / EBITDA | - | -118.76x | -38.51x | -2.81x | -0.63x | -2.85x |
| Interest Coverage | -281.94x | -9.83x | 38.26x | 5.02x | 214.65x | - |
| Total Equity | 101.14M | 64.61M | 2.19M | 1.68M | 3.15M | 12.92M |
| Equity Growth % | 56.55% | 2843.34% | 31.04% | -46.91% | -75.57% | - |
| Book Value per Share | 98.82 | 1968.89 | 66.89 | 51.05 | 96.15 | 393.63 |
| Total Shareholders' Equity | 101.14M | 64.61M | 2.19M | 1.68M | 3.15M | 12.92M |
| Common Stock | 2.43K | 1.02K | 874 | 112 | 112 | 874 |
| Retained Earnings | -3.47M | 14.71M | 15.13M | 1.42M | 2.9M | 10.91M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 5.5K | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital Allocation Inefficiency
As reported in recent financial filings, Intelligent Group's total assets have fluctuated wildly from $71.7M in 2024Q4 to $13.6M in 2025Q4, indicating that the balance sheet trajectory is driven by episodic capital movements rather than consistent growth in the underlying consulting business.
The dramatic contraction in asset base suggests that the firm is not building long-term value through operational reinvestment. Investors should monitor whether these asset swings represent a lack of strategic direction or merely the temporary holding of capital awaiting deployment.
Based on the most recent quarterly data, the company maintains a current ratio of 27.28, which, while technically indicating high liquidity, appears disconnected from the firm's actual operational needs given the persistent negative net margins and lack of revenue growth.
This extreme liquidity buffer suggests the company is currently functioning more as a cash-heavy holding vehicle than an active consultancy. The lack of utilization of this cash to drive revenue growth warrants further investigation into management's long-term capital allocation strategy.
According to the balance sheet, retained earnings have shifted from a peak of $15.1M in 2023Q4 to a deficit of $445.6K by 2025Q4, signaling that the firm's operating losses are actively consuming the equity base built during prior capital raises.
The depletion of retained earnings highlights the structural unprofitability of the current business model. Without a pivot to positive net income, the firm risks further eroding its equity cushion, which may eventually necessitate additional dilutive financing despite the current cash position.
As evidenced by the provided balance sheet, the company's debt-to-equity ratio remains negligible at 0.03, yet this financial health is potentially misleading because it masks the underlying inability of the core business to generate self-sustaining cash flow from its operations.
While the low leverage is technically a positive, it appears to be a byproduct of the firm's reliance on equity-funded cash reserves rather than a sign of operational efficiency. Analysts should interpret this 'fortress' balance sheet as a temporary state that may deteriorate if the current burn rate continues.
Quick answers to the most common questions about buying INTJ stock.
As of 2025, Intelligent Group Limited (INTJ) had total assets of $106.2M including $93.8M in current assets.
Intelligent Group Limited (INTJ) carries total debt of $2.7M, offset by $67.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Intelligent Group Limited (INTJ) has total shareholders' equity (book value) of $101.1M ($98.82 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Intelligent Group Limited (INTJ) reported a current ratio of 27.28x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.