The company's financial stability is compromised by a negative $44.3M retained earnings balance and a current ratio of 0.99, indicating limited flexibility to manage its $5.0M debt load.
iQSTEL Inc. (IQST) balance sheet — 15-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Jun'18 | Jun'16 | Jun'16 | Jun'14 | Jun'13 | Jun'12 | Jun'11 |
|---|
| Total Assets | 48.19M | 51.09M | 79.01M | 22.16M | 12.55M | 9.06M | 5.95M | 5.6M | 2.39M | 15.7K | 37.98K | 37.98K | 93 | 212 | 62.54K | 2.5K |
| Asset Growth % | 8.9% | -35.34% | 256.6% | 76.55% | 38.52% | 52.22% | 6.23% | 134.33% | 15128.67% | -58.66% | 3.15% | 40738.71% | -56.13% | -99.66% | 2401.44% | - |
| PP&E (Net) | 500.02K | 615.05K | 561.8K | 523K | 401.02K | 409.38K | 350.53K | 287.97K | 285.11K | 301.76K | 319.61K | 319.61K | 0 | 0 | 0 | 0 |
| PP&E / Total Assets % | 1.04% | 1.2% | 0.71% | 2.36% | 3.2% | 4.52% | 5.89% | 5.14% | 11.92% | 1921.89% | 841.52% | 841.52% | 0% | 0% | 0% | 0% |
| Total Current Assets | 33.53M | 36.16M | 63.02M | 15.72M | 6.44M | 6.57M | 3.58M | 3.44M | 2.11M | 15.7K | 37.98K | 37.98K | 93 | 212 | 847 | 847 |
| Cash & Equivalents | 2.09M | 2.16M | 2.51M | 1.36M | 1.33M | 3.33M | 753.32K | 270.5K | 4.57K | 15.7K | 23.79K | 23.79K | 0 | 0 | 317 | 317 |
| Receivables | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 0 | 0 | 0 | 0 |
| Inventory | 30.66K | 30.66K | 30.66K | 27.12K | 26.12K | 0 | 0 | 0 | 0 | 0 | 10.36K | 10.36K | 93 | 212 | 530 | 530 |
| Other Current Assets | 0 | 502.62K | 0 | 0 | 377.5K | 0 | 222.39K | 0 | 270.43K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 5.67M | -446.4K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 5.79M | 5.79M | 6.75M | 5.17M | 5.17M | 1.54M | 1.54M | 1.46M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 6.72M | 6.96M | 7.44M | 99.59K | 99.59K | 99.59K | 21.88K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.25K | 2.5K |
| Other Assets | 1.2M | 1.1M | 999.08K | 214.99K | -5.67M | 446.4K | 460.04K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60.44K | 0 |
| Total Liabilities | 31.01M | 34.81M | 67.11M | 14.11M | 6.71M | 2.64M | 8.35M | 11.37M | 3.99M | 224.68K | 208.91K | 208.91K | 44.45K | 19.41K | 82.2K | 665 |
| Total Debt | 2.62M | 4.18M | 8.05M | 953.57K | 438.44K | 674.05K | 4.01M | 3.42M | 371.74K | 61.49K | 35.33K | 35.33K | 33.85K | 0 | 12.43K | 0 |
| Net Debt | 523.58K | 2.02M | 5.54M | -409.1K | -890.95K | -2.66M | 3.26M | 3.15M | 367.17K | 45.79K | 11.54K | 11.54K | 33.85K | 0 | 12.11K | -317 |
| Long-Term Debt | 26.49K | 31.3K | 3.01M | 99.1K | 108.15K | 119.3K | 273.65K | 189.46K | 0 | 90.79K | 90.59K | 90.59K | 0 | 0 | 0 | 0 |
| Short-Term Borrowings | 2.59M | 4.15M | 5.04M | 854.47K | 330.29K | 554.76K | 3.74M | 3.23M | 371.74K | 61.49K | 114.17K | 114.17K | 1.8K | 0 | 12.43K | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Current Liabilities | 30.82M | 34.61M | 63.82M | 13.84M | 6.45M | 2.36M | 7.91M | 11.15M | 3.99M | 224.68K | 208.91K | 208.91K | 44.45K | 19.41K | 82.2K | 665 |
| Accounts Payable | 12.13M | 9.17M | 2.13M | 2.97M | 2.25M | 1.47M | 2.74M | 2.29M | 1.39M | 566.08K | 2.64M | 2.64M | 8.14K | 5.6K | 0 | 12.43K |
| Accrued Expenses | 15.3M | 140.32K | 1.05M | 45.36K | 2.48M | 197.45K | 387.28K | 368.05K | 422.12K | 101.21K | 0 | 0 | 0 | 4.98K | 14.41K | 68.53K |
| Deferred Revenue | 1.04M | 1.39M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -1.33M | -2.64M | -2.64M | 5K | 5K | 0 | 0 |
| Other Current Liabilities | 1.29M | 19.61M | 55.07M | 9.73M | 1.36M | 109.6K | 1.05M | 4.96M | 1.8M | 940.84K | 262.87K | 262.87K | 0 | 33.88K | 50.36K | 0 |
| Deferred Taxes | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 169.6K | 169.6K | 274.35K | 169.74K | 154.24K | 156.43K | 161.21K | 38.25K | 0 | 0 | -90.59K | -90.59K | 0 | 0 | 0 | 0 |
| Total Equity | 17.18M | 16.28M | 11.9M | 8.05M | 5.84M | 6.42M | -2.4M | -5.77M | -1.6M | -208.98K | -170.93K | -170.93K | -44.36K | -19.2K | -19.66K | 1.83K |
| Equity Growth % | 201.49% | 36.81% | 47.91% | 37.88% | -9.12% | 368.09% | 58.49% | -261.18% | -664.5% | -22.26% | -1619.08% | -285.32% | -131.02% | 2.34% | -1171.55% | - |
| Shareholders Equity | 12.75M | 11.16M | 7.22M | 8.42M | 6.76M | 7.42M | -1.39M | -4.87M | -1.6M | -208.98K | -170.93K | -170.93K | -44.36K | -19.2K | -19.66K | 1.83K |
| Minority Interest | 4.43M | 5.12M | 4.68M | -377.71K | -924.38K | -996.01K | -1.01M | -903.51K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Common Stock | 10.05K | 4.67K | 202.98K | 172.13K | 161.59K | 147.48K | 118.13K | 18.01K | 15.02K | 441.34K | 100.23K | 100.23K | 10K | 10K | 7.5K | 7.5K |
| Additional Paid-in Capital | 59.78M | 54.46M | 39.74M | 34.36M | 31.14M | 25.84M | 13.27M | 3.24M | 1.05M | 737.43K | 747.51K | 747.51K | -345.31K | -412.6K | -22.6K | 0 |
| Retained Earnings | -47.01M | -43.28M | -32.7M | -26.08M | -24.5M | -18.54M | -14.7M | -8.13M | -2.67M | -573.37K | -307.03K | -307.03K | -31.76K | -6.6K | -27.16K | -5.67K |
| Accumulated OCI | -25.34K | -25.34K | -25.34K | -25.34K | -33.56K | -36.66K | -74.83K | -181 | 0 | -8.75K | 0 | 0 | 0 | 0 | 0 | 0 |
| Return on Assets (ROA) | -20.1% | -14.09% | -11.85% | -4.4% | -55.23% | -51.13% | -113.79% | -202.74% | -306.67% | -982.44% | -648.11% | -1273.33% | -16497.05% | 65.54% | -66.11% | -400% |
| Return on Equity (ROE) | -58.41% | -65.04% | -60.08% | -11% | -97.38% | -190.66% | - | - | - | - | - | - | - | - | - | -544.96% |
| Debt / Equity | 0.15x | 0.26x | 0.68x | 0.12x | 0.08x | 0.10x | - | - | - | - | - | - | - | - | - | - |
| Debt / Assets | 5.43% | 8.18% | 10.19% | 4.3% | 3.49% | 7.44% | 67.36% | 60.97% | 15.55% | 391.66% | 93.01% | 93.01% | 36403.23% | - | 19.87% | - |
| Net Debt / EBITDA | -0.25x | - | - | - | - | - | - | - | - | 0.44x | - | - | - | - | - | - |
| Book Value per Share | 2.48 | 4.72 | 5.14 | 3.79 | 3.02 | 3.73 | -2.95 | -28.96 | -0.12 | -1.38 | -21.81 | -1.29 | -2.13 | -0.94 | -1.26 | 0.12 |
Quick answers to the most common questions about buying IQST stock.
As of 2025, iQSTEL Inc. (IQST) had total assets of $51.1M including $36.2M in current assets.
iQSTEL Inc. (IQST) carries total debt of $4.2M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
iQSTEL Inc. (IQST) has total shareholders' equity (book value) of $11.2M ($4.72 book value per share). Book value represents the net worth of the company belonging to common stock holders.
iQSTEL Inc. (IQST) reported a current ratio of 1.04x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Liquidity and solvency constraints
Metrics are mathematically derived from official filings.
Balance Sheet Erosion Amid Expansion
As reported in financial statements, IQSTEL's total assets have fluctuated significantly, peaking at $79.0M in 2024Q4 before contracting to $44.5M by 2026Q1, a trend that suggests the company's asset base is highly sensitive to acquisition activity and volatile working capital requirements rather than organic growth.
The contraction in total assets alongside persistent negative retained earnings, which reached -$44.3M in 2026Q1, indicates that the company is struggling to build long-term value. Investors should monitor whether this volatility reflects a strategic pivot or an inability to maintain a stable asset base while funding speculative ventures.
Tight Liquidity Limits Operational Flexibility
According to recent SEC filings, IQSTEL's cash position of $2.6M as of 2026Q1 against a current ratio of 0.99 highlights a precarious liquidity profile, where the company maintains almost no buffer to absorb shocks in carrier settlement timing or unexpected operational cash outflows.
A current ratio hovering near parity suggests that current liabilities are nearly equal to current assets, leaving little room for error in managing short-term obligations. This tight liquidity position may force the company to rely on external financing, which could be dilutive given the current lack of sustained profitability.
Equity Quality Diluted by Losses
Based on reported figures, IQSTEL's equity base has remained under pressure, with the total equity balance of $10.1M in 2026Q1 being heavily eroded by the cumulative deficit in retained earnings, which has deepened consistently over the last ten quarters to reach a negative $44.3M.
The persistent growth of the deficit in retained earnings suggests that the company's capital allocation strategy has not yet yielded a return on invested capital. This trend warrants further investigation into whether future equity issuance will be required to sustain operations, potentially further diluting existing shareholders.
Goodwill Impairment Risk Remains Elevated
As indicated by the company's balance sheet data, goodwill remains a material component of total assets at $5.8M in 2026Q1, representing a significant portion of the company's $10.1M in total equity, which suggests that the carrying value of past acquisitions may be vulnerable to future impairment charges.
Given the company's negative operating margins and the speculative nature of its recent diversification into fintech and EVs, the valuation of these intangible assets appears optimistic. Investors should monitor for potential write-downs, which would further weaken the already strained equity position and signal a failure of past M&A strategies.