The company's financial position appears increasingly vulnerable, with the debt-to-equity ratio climbing to 1.36 in 2025Q4 compared to 0.68 in 2021Q4.
| Total Current Assets | 19.94M | 15.72M | 15.29M | 12.36M | 10.72M | 10.61M |
| Cash & Short-Term Investments | 3.59M | 153.91K | 76.02K | 172.03K | 104.84K | 140.38K |
| Cash Only | 933.83K | 153.91K | 76.02K | 172.03K | 104.84K | 140.38K |
| Short-Term Investments | 2.65M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 13.31M | 12.46M | 11.87M | 9.18M | 6.2M | 4.26M |
| Days Sales Outstanding | 437.43 | 421.3 | 309.47 | 248.66 | 142.3 | 155.44 |
| Inventory | 1.51M | 1.75M | 1.55M | 2.14M | 4.01M | 4.86M |
| Days Inventory Outstanding | 70.32 | 79.01 | 68.45 | 90.63 | 157.37 | 305.26 |
| Other Current Assets | 746.67K | 363.35K | 876.37K | 189.97K | 224.73K | 940.16K |
| Total Non-Current Assets | 7.89M | 9.36M | 10.06M | 8.02M | 6.12M | 5.35M |
| Property, Plant & Equipment | 2.63M | 2.79M | 3.09M | 3.65M | 4.09M | 3.76M |
| Fixed Asset Turnover | 4.22x | 3.87x | 4.53x | 3.70x | 3.88x | 2.66x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 522.56K | 1.94M | 1.93M | 2.1M | 645.4K | 604.07K |
| Long-Term Investments | 0 | 2.67M | 2.63M | 1.52M | 1.1M | 0 |
| Other Non-Current Assets | 4.05M | 1.43M | 1.98M | 518.93K | 252.25K | 970.6K |
| Total Assets | 27.83M | 25.08M | 25.35M | 20.38M | 16.84M | 15.96M |
| Asset Turnover | 0.40x | 0.43x | 0.55x | 0.66x | 0.94x | 0.63x |
| Asset Growth % | 10.98% | -1.08% | 24.42% | 21.03% | 5.49% | - |
| Total Current Liabilities | 16.95M | 17.02M | 19.51M | 15.02M | 11.19M | 13.3M |
| Accounts Payable | 4.08M | 4.69M | 4.36M | 3.6M | 2.83M | 3.24M |
| Days Payables Outstanding | 189.33 | 211.92 | 193 | 152.53 | 111.14 | 203.38 |
| Short-Term Debt | 7.58M | 6.94M | 9.76M | 6.92M | 3.84M | 3.94M |
| Deferred Revenue (Current) | 926.83K | 1.03M | 1.03M | 803.41K | 2.56M | 4.84M |
| Other Current Liabilities | 4.88K | 3.06K | 325 | 13K | 15.02K | 0 |
| Current Ratio | 1.18x | 0.92x | 0.78x | 0.82x | 0.96x | 0.80x |
| Quick Ratio | 1.09x | 0.82x | 0.70x | 0.68x | 0.60x | 0.43x |
| Cash Conversion Cycle | 318.42 | 288.39 | 184.93 | 186.76 | 188.53 | 257.33 |
| Total Non-Current Liabilities | 3.07M | 3.81M | 297.55K | 0 | 0 | 0 |
| Long-Term Debt | 3.07M | 3.81M | 297.55K | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 20.02M | 20.82M | 19.8M | 15.02M | 11.19M | 13.3M |
| Total Debt | 10.65M | 10.74M | 10.06M | 6.92M | 3.84M | 3.94M |
| Net Debt | 9.72M | 10.59M | 9.98M | 6.75M | 3.74M | 3.79M |
| Debt / Equity | 1.36x | 2.53x | 1.81x | 1.29x | 0.68x | 1.48x |
| Debt / EBITDA | - | - | 5.76x | 3.69x | 0.92x | 1.80x |
| Net Debt / EBITDA | - | - | 5.72x | 3.60x | 0.90x | 1.74x |
| Interest Coverage | -1.58x | -2.63x | 3.31x | 5.93x | 18.58x | 8.80x |
| Total Equity | 7.81M | 4.25M | 5.55M | 5.35M | 5.65M | 2.66M |
| Equity Growth % | 83.65% | -23.32% | 3.67% | -5.21% | 111.95% | - |
| Book Value per Share | 41.68 | 22.98 | 25.22 | 24.33 | 25.67 | 12.11 |
| Total Shareholders' Equity | 7.88M | 4.32M | 5.61M | 5.41M | 5.71M | 2.71M |
| Common Stock | 1.88K | 1.7K | 1.7K | 1.7K | 1.7K | 1.7K |
| Retained Earnings | 525.41K | 1.58M | 2.96M | 2.51M | 2.81M | 425.58K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 520.99K | 496.19K | 415.54K | 664.9K | 658.37K | 52.66K |
| Minority Interest | -63.58K | -61.85K | -58.29K | -59.97K | -59.29K | -50.51K |
Liquidity and solvency pressure
According to recent financial filings, LBGJ's equity base has experienced significant volatility, contracting from $5.7M in 2021Q4 to $7.9M in 2025Q4, while total liabilities have nearly doubled to $20.0M, signaling a weakening financial position that reflects the company's inability to generate consistent internal capital growth.
The expansion of the balance sheet appears driven by debt accumulation rather than retained earnings, which remain negligible. This trajectory suggests that the company is increasingly reliant on external financing to sustain operations, which may limit future strategic flexibility.
Based on reported figures, LBGJ's debt-to-equity ratio has climbed to 1.36 as of 2025Q4, a marked increase from the 0.68 level observed in 2021Q4, indicating that the company is utilizing higher levels of leverage to fund its ongoing operational requirements in a challenging industrial environment.
While the absolute debt load remains modest, the rising leverage ratio in the context of negative operating margins warrants caution. Investors should monitor whether this debt is being used to bridge working capital gaps, which would imply a structural reliance on credit rather than operational cash flow.
As reported in quarterly statements, LBGJ's cash position has dwindled to $933.8K in 2025Q4, representing a precarious liquidity buffer relative to its $20.0M in total liabilities, which suggests that the company possesses limited capacity to absorb further operational shocks or unexpected capital requirements.
The current ratio of 1.18 provides only a thin margin of safety, particularly given the project-based nature of the business which often involves delayed receivables. This liquidity profile appears insufficient to support sustained growth or navigate prolonged downturns in the Chinese hospitality sector.
Analysis of the balance sheet reveals that goodwill and intangible assets have fluctuated significantly, reaching $522.6K in 2025Q4, which may mask potential impairment risks if the company's regional market position fails to yield the expected economic benefits in the current competitive landscape.
The reliance on non-cash assets to bolster the balance sheet warrants further investigation, as these items do not contribute to liquidity. If the company's project pipeline continues to underperform, these intangible assets may be subject to future write-downs, further pressuring the already thin equity base.
Quick answers to the most common questions about buying LBGJ stock.
As of 2025, Li Bang International Corporation Inc. Ordinary Shares (LBGJ) had total assets of $27.8M including $19.9M in current assets.
Li Bang International Corporation Inc. Ordinary Shares (LBGJ) carries total debt of $10.7M, offset by $3.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Li Bang International Corporation Inc. Ordinary Shares (LBGJ) has total shareholders' equity (book value) of $7.9M ($41.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Li Bang International Corporation Inc. Ordinary Shares (LBGJ) reported a current ratio of 1.18x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.