The company's liquidity position is critical, with cash reserves falling to $4,974 and a FCF margin of -199.8% indicating a total inability to generate internal funding for operations.
| Cash from Operations | -31.41K | -1.64M | -3.88M | 1.17M | 1.22M |
| Operating CF Margin % | -91.89% | -15.89% | -30.5% | 5.31% | 7.88% |
| Operating CF Growth % | 98.08% | 57.89% | -432.2% | -4.04% | - |
| Net Income | -49.4K | -439.34K | -652.73K | 8.56K | 6.99K |
| Depreciation & Amortization | 1.81K | 311.36K | 263.69K | 655 | 310 |
| Stock-Based Compensation | 0 | 0 | 0 | 0 | 0 |
| Deferred Taxes | 0 | 148.24K | -160.4K | 646 | -867 |
| Other Non-Cash Items | 36.74K | 743.6K | 68.53K | 1.04M | 757.75K |
| Working Capital Changes | -20.57K | -2.4M | -3.4M | 120.72K | 454.01K |
| Change in Receivables | 555 | -5.02M | 36.74K | -910.22K | 441.89K |
| Change in Inventory | 380 | 601.54K | -359.86K | -78.45K | 225.58K |
| Change in Payables | -3.84K | -517.94K | 624.35K | -11.7K | 32.82K |
| Cash from Investing | -62.02K | -365.43K | 1.83M | 743.73K | -3.21M |
| Capital Expenditures | -1.15K | 0 | -12.14K | -481.39K | -3.07M |
| CapEx % of Revenue | 3.36% | 0% | 0.1% | 2.19% | 19.83% |
| Acquisitions | 0 | 0 | 1.75M | -40.1K | -139.39K |
| Investments | - | - | - | - | - |
| Other Investing | -60.88K | -410K | 0 | 1.31M | 1.3K |
| Cash from Financing | 84.2K | 2.88M | -398.39K | 45.74K | 2.02M |
| Debt Issued (Net) | 72.05K | -1.86M | -787.55K | 45.74K | 2.02M |
| Equity Issued (Net) | 12.15K | 5.36M | 1.43M | 0 | 0 |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | 0 | 0 | 0 | 0 |
| Other Financing | 0 | -624.29K | -1.04M | 0 | 0 |
| Net Change in Cash | -9.01K | 893.25K | -2.58M | 1.91M | 25.26K |
| Free Cash Flow | -32.56K | -1.64M | -3.9M | 687.54K | -1.85M |
| FCF Margin % | -95.26% | -15.89% | -30.59% | 3.12% | -11.95% |
| FCF Growth % | 98.01% | 58.02% | -666.56% | 137.18% | - |
| FCF per Share | -0.01 | -0.76 | -1.95 | 0.32 | -0.86 |
| FCF Conversion (FCF/Net Income) | 0.64x | 3.72x | 5.95x | 1.10x | 1.62x |
| Interest Paid | 18.27K | 48.61K | 65.9K | 57.78K | 46.52K |
| Taxes Paid | 112K | 2.05K | 150.12K | 33.29K | 2.94K |
Imminent Going Concern Risk
As reported in financial statements, LGCB's OCF/NI ratio of 0.71 in 2025Q4 highlights a persistent inability to convert accounting profits into actual liquidity, a trend that has plagued the firm since its 2023Q2 period when the ratio reached an alarming -3.17.
The consistent divergence between net income and operating cash flow suggests that the company's reported earnings are heavily impacted by non-cash items or accruals that do not materialize into cash. Investors should monitor this gap, as it indicates that even when the company reports smaller losses, the underlying cash burn remains structurally elevated.
Based on LGCB's reported figures, the company's FCF margin has deteriorated to -199.8% in 2025Q4, reflecting a total inability to generate positive cash flow from operations while maintaining even minimal capital expenditures to support its dwindling business activities.
The trajectory of free cash flow confirms that the business model is currently incapable of self-funding. This persistent negative trend suggests that the company is consuming its remaining capital reserves at an unsustainable rate, leaving little room for operational pivots.
According to recent SEC filings, LGCB has consistently faced negative working capital changes, including a $3.2K outflow in 2025Q4, which further exacerbates the company's liquidity crisis by tying up scarce cash in inefficient operational cycles.
The recurring negative working capital adjustments suggest that the company is struggling to manage its receivables or inventory effectively, leading to cash being trapped in the business. This inefficiency appears to be a primary driver of the company's rapid cash depletion, as it cannot efficiently convert its service-based revenue into cash.
As indicated by the latest financial data, LGCB has ceased all forms of capital deployment, including dividends and share repurchases, as the company's cash reserves have fallen to a critical $4,974, leaving no capacity for strategic investment or shareholder returns.
The absence of capital deployment activity is a clear signal that the company is in survival mode. With no cash available for growth or debt reduction, the firm appears to be entirely dependent on external financing, which may be difficult to secure given the current financial performance.
Quick answers to the most common questions about buying LGCB stock.
Linkage Global Inc Ordinary Shares (LGCB) generated $-0.0M in net cash from operating activities in 2025. This reflects the cash generated directly from core business operations.
Linkage Global Inc Ordinary Shares (LGCB) reported negative free cash flow of $0.0M in 2025, indicating capital requirements exceeded cash from operations.
Linkage Global Inc Ordinary Shares (LGCB) spent $0.0M on capital expenditures in 2025. CapEx represents the cash invested in physical assets like property, plant, and equipment to maintain or grow the business.