Financial leverage remains critical, as evidenced by a current ratio of 0.39 and a debt-to-equity ratio that reached an extreme 39.16 in 2025Q2.
| Total Current Assets | 3.82M | 2.02M | 1.35M | 1.74M | 2.39M | 21.97K |
| Cash & Short-Term Investments | 341.75K | 523.69K | 178.96K | 444.25K | 2.06M | 21.97K |
| Cash Only | 341.75K | 523.69K | 178.96K | 444.25K | 2.06M | 21.97K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 28.7K | 40.67K | 212.89K | 462.02K | 228.12K | 0 |
| Days Sales Outstanding | 1.51 | 0.89 | 4.66 | 17.15 | 32.66 | - |
| Inventory | 497.61K | 516.65K | 571.51K | 582.02K | 41K | 0 |
| Days Inventory Outstanding | 16.58 | 14.18 | 15.9 | 29.14 | 8.7 | - |
| Other Current Assets | 2.96M | -1 | 388.76K | 0 | 0 | 0 |
| Total Non-Current Assets | 20.13M | 18.17M | 20.44M | 18.44M | 3.94M | 0 |
| Property, Plant & Equipment | 8.59M | 8.26M | 9.57M | 8.07M | 2.04M | 0 |
| Fixed Asset Turnover | 1.85x | 2.01x | 1.74x | 1.22x | 1.25x | - |
| Goodwill | 9.09M | 8.02M | 8.15M | 7.61M | 1.61M | 0 |
| Intangible Assets | 1.18M | 1.63M | 2.51M | 2.73M | 239.19K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.28M | 254K | 212.9K | 29.46K | 51.25K | 0 |
| Total Assets | 23.96M | 20.2M | 21.79M | 20.19M | 6.33M | 21.97K |
| Asset Turnover | 0.73x | 0.82x | 0.77x | 0.49x | 0.40x | - |
| Asset Growth % | -17.13% | -7.32% | 7.95% | 218.9% | 28710.94% | - |
| Total Current Liabilities | 9.72M | 8.2M | 7.58M | 7.25M | 2M | 0 |
| Accounts Payable | 1.7M | 1.98M | 3.21M | 1.02M | 44.89K | 0 |
| Days Payables Outstanding | 61.75 | 54.33 | 89.2 | 51.02 | 9.53 | - |
| Short-Term Debt | 3.87M | 5.75M | 3.28M | 5.45M | 1.5M | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 4.15M | -1 | 0 | 0 | 0 | 0 |
| Current Ratio | 0.39x | 0.25x | 0.18x | 0.24x | 1.19x | - |
| Quick Ratio | 0.34x | 0.18x | 0.10x | 0.16x | 1.17x | - |
| Cash Conversion Cycle | -43.66 | -39.25 | -68.64 | -4.73 | 31.84 | - |
| Total Non-Current Liabilities | 10.07M | 10.43M | 15M | 18.07M | 5.2M | 0 |
| Long-Term Debt | 10.07M | 8.49M | 13.48M | 17.41M | 5.2M | 0 |
| Capital Lease Obligations | 5.7M | 1.94M | 1.51M | 666.18K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 1 | 0 | 0 | 0 | 0 |
| Total Liabilities | 19.79M | 18.63M | 22.58M | 25.32M | 7.2M | 0 |
| Total Debt | 13.94M | 16.37M | 18.42M | 23.61M | 6.69M | 0 |
| Net Debt | 13.6M | 15.85M | 18.24M | 23.17M | 4.64M | -21.97K |
| Debt / Equity | 3.34x | 10.48x | - | - | - | - |
| Debt / EBITDA | -2.04x | - | - | - | - | - |
| Net Debt / EBITDA | -1.99x | - | - | - | - | - |
| Interest Coverage | -5.74x | -2.91x | -2.83x | -2.47x | -5.38x | - |
| Total Equity | 4.17M | 1.56M | -788.26K | -5.14M | -869.09K | 21.97K |
| Equity Growth % | 1463.25% | 298.16% | 84.65% | -490.9% | -4055.81% | - |
| Book Value per Share | 0.68 | 0.28 | -294.46 | -1149.39 | -194.51 | 4.92 |
| Total Shareholders' Equity | 4.17M | 1.56M | -788.26K | -5.14M | -869.09K | 21.97K |
| Common Stock | 662 | 419 | 389 | 528 | 515 | 435 |
| Retained Earnings | -44.33M | -36.35M | -21.22M | -6.24M | -1.33M | -460 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and solvency
As reported in recent financial filings, IVP's equity base has eroded significantly, with the company reporting a negative equity position in multiple quarters, including 2024Q2 and 2023Q4, which underscores a persistent trend of value destruction that threatens the long-term viability of the corporate entity.
The consistent accumulation of retained earnings losses, which reached -$44.3M in 2025Q3, suggests that the company's acquisition-led growth strategy has failed to generate the necessary returns to offset operational costs. This trajectory indicates that the business model is currently unable to achieve self-sustaining growth, leaving the balance sheet increasingly fragile.
Based on the company's reported figures, the debt-to-equity ratio has reached extreme levels, peaking at 39.16 in 2025Q2, which highlights a reliance on external financing that appears increasingly unsustainable given the company's inability to generate positive cash flow from its underlying veterinary operations.
The high debt load relative to the company's minimal equity base suggests that IVP is highly sensitive to interest rate fluctuations and credit market conditions. Investors should monitor whether the company can secure further debt financing or if it will be forced into dilutive equity raises to manage its $13.9M debt burden.
According to the most recent quarterly balance sheet, IVP's current ratio has plummeted to 0.39 as of 2025Q3, reflecting a severe lack of liquid assets to cover short-term obligations and signaling a high probability of an imminent liquidity event for the veterinary service provider.
With cash reserves dwindling to just $341.7K, the company appears to have almost no buffer against operational shocks or unexpected expenses. This liquidity profile suggests that the firm is operating on a razor-thin margin of safety, which may necessitate immediate capital intervention to maintain ongoing operations.
As indicated in financial statements, goodwill accounts for $9.1M of the company's $24.0M total assets, suggesting that a significant portion of the balance sheet is tied to intangible premiums paid for past acquisitions that may not be supported by current clinic-level cash flows.
The reliance on goodwill as a primary asset component warrants further investigation into potential impairment charges, especially given the company's negative operating margins. If the acquired practices fail to meet performance expectations, the resulting write-downs could further erode the already precarious equity position.
Based on the provided data, the company's recurring negative equity and extreme debt-to-equity ratios suggest that the headline asset values may be misleading, as they do not account for the potential for future insolvency or the high cost of servicing existing debt obligations.
The absence of deferred revenue in recent quarters suggests that the company is not successfully leveraging prepaid wellness plans to improve its cash position. This lack of forward-looking revenue visibility, combined with the high debt load, indicates that the company's financial health is significantly more strained than a simple review of total assets might imply.
Quick answers to the most common questions about buying IVP stock.
As of 2024, Inspire Veterinary Partners, Inc. (IVP) had total assets of $20.2M including $2.0M in current assets.
Inspire Veterinary Partners, Inc. (IVP) carries total debt of $16.4M, offset by $0.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Inspire Veterinary Partners, Inc. (IVP) has total shareholders' equity (book value) of $1.6M ($0.28 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Inspire Veterinary Partners, Inc. (IVP) reported a current ratio of 0.25x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.