Lucas GC Limited Ordinary Shares (LGCL) Balance Sheet

9Y historyFree accessUpdated daily

Financial leverage is increasing, as evidenced by a debt-to-equity ratio of 0.26 and the emergence of $32.5 million in goodwill on the 2024Q4 balance sheet.

Annual statement

LGCL Balance Sheet

Lucas GC Limited Ordinary Shares (LGCL) balance sheet — 9-year assets, liabilities & shareholders' equity history

Annual Quarterly

Metric	TTM	Dec'25	Dec'24	Dec'23	Dec'22	Dec'21	Dec'20	Dec'17	Dec'16	Dec'15

Total Current Assets	324.61M	225.29M	263.43M	231.34M	195.75M	192.42M	52.1M	28.27M	22.47M	4.05M
Cash & Short-Term Investments	15.2M	35.14M	33.18M	30.12M	48.48M	74.1M	11.06M	9.93M	4.92M	317.66K
Cash Only	10.42M	30.32M	30.38M	30.12M	48.47M	44.05M	4.85M	9.93M	4.92M	317.66K
Short-Term Investments	4.78M	4.82M	2.8M	0	4K	30.05M	6.21M	0	0	0
Accounts Receivable	104.45M	30.75M	61.06M	28.14M	102.76M	57.94M	40.32M	17.64M	17.3M	816.4K
Days Sales Outstanding	11.34	11.07	20.96	6.97	48.93	32.42	63.93	133.92	158.14	33.97
Inventory	0	0	0	0	0	0	0	0	0	0
Days Inventory Outstanding	-	-	-	-	-	-	-	-	-	-
Other Current Assets	4.13M	288.19K	3.76M	173.07M	3.55M	283K	241K	695.41K	250.45K	2.91M
Total Non-Current Assets	524.13M	228.84M	139.82M	60.49M	45.5M	33.72M	10.4M	297.02K	2.88M	300.77K
Property, Plant & Equipment	151.18M	154.35M	85.04M	48.38M	41.28M	30.11M	1.15M	237.17K	179.9K	230.99K
Fixed Asset Turnover	16.70x	6.57x	12.50x	30.46x	18.57x	21.66x	200.71x	202.76x	221.97x	37.98x
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	58.42M	34.84M	32.52M	0	0	0	0	0	0	0
Long-Term Investments	318.98M	19.74M	0	0	432	471	306.28K	0	1M	0
Other Non-Current Assets	104.05K	104.08K	0	12.1M	0	0	8.51M	59.85K	1.7M	69.78K
Total Assets	848.74M	454.13M	403.25M	291.82M	241.25M	226.14M	62.51M	28.56M	25.35M	4.35M
Asset Turnover	3.69x	2.23x	2.64x	5.05x	3.18x	2.88x	3.68x	1.68x	1.58x	2.02x
Asset Growth %	61.02%	12.62%	38.18%	20.96%	6.68%	261.77%	118.85%	12.68%	482.77%	-
Total Current Liabilities	237.95M	139.82M	137.57M	95.23M	123.84M	144.9M	7.26M	15.59M	18.94M	1.14M
Accounts Payable	110.49M	35.55M	46.8M	35.22M	86.98M	103.07M	42.94M	12.13M	12.91M	382.61K
Days Payables Outstanding	17.31	19.33	24.2	12.18	57.58	79.51	90.92	146.15	188.89	40.47
Short-Term Debt	98M	94.92M	67.47M	39.38M	5.92M	0	0	0	0	0
Deferred Revenue (Current)	55.91M	2.77M	15.91M	0	24.71M	34.53M	23.24K	0	0	0
Other Current Liabilities	9.37M	6.1M	624K	15.32M	813K	424K	-39.82M	2.27M	4.31M	542.01K
Current Ratio	1.36x	1.61x	1.91x	2.43x	1.58x	1.33x	7.17x	1.81x	1.19x	3.54x
Quick Ratio	1.36x	1.61x	1.91x	2.43x	1.58x	1.33x	7.17x	1.81x	1.19x	3.54x
Cash Conversion Cycle	-5.97	-	-	-	-	-	-	-	-	-
Total Non-Current Liabilities	81.03K	0	99K	0	86K	112M	85.61M	0	0	0
Long-Term Debt	0	0	0	0	0	0	0	0	0	0
Capital Lease Obligations	581.02K	0	99K	0	86K	0	0	0	0	0
Deferred Tax Liabilities	0	0	0	0	0	0	0	0	0	0
Other Non-Current Liabilities	0	0	0	0	0	112M	85.61M	0	0	0
Total Liabilities	238.03M	139.82M	137.67M	95.23M	123.92M	256.91M	7.26M	15.59M	18.94M	1.14M
Total Debt	98.08M	94.92M	68.03M	39.47M	6.75M	0	0	0	0	0
Net Debt	87.66M	64.6M	37.65M	9.34M	-41.72M	-44.05M	-742.22K	-9.93M	-4.92M	-317.66K
Debt / Equity	0.16x	0.30x	0.26x	0.20x	0.06x	-	-	-	-	-
Debt / EBITDA	1.27x	2.94x	1.85x	0.55x	0.19x	-	-	-	-	-
Net Debt / EBITDA	1.14x	2.00x	1.02x	0.13x	-1.19x	-1.14x	-0.23x	-1.44x	-1.15x	-0.26x
Interest Coverage	12.58x	10.65x	17.25x	75.83x	-	545.79x	-	-	-	-
Total Equity	610.72M	314.31M	265.58M	196.59M	117.79M	-30.77M	2.6M	12.97M	6.41M	3.21M
Equity Growth %	115.93%	18.35%	35.09%	66.9%	482.82%	-1282.64%	-79.94%	102.38%	99.86%	-
Book Value per Share	2234.01	16305.56	17010.06	12591.56	7402.31	-1933.61	163.50	11135.36	5488.05	2786.50
Total Shareholders' Equity	607.75M	311.49M	262.83M	194.14M	115.86M	-31.08M	2.6M	12.95M	6.41M	3.21M
Common Stock	57.02K	3K	3K	3K	3K	471	459	2.91M	2.91M	2.91M
Retained Earnings	124.09M	104.4M	97.12M	80.6M	-8.75M	-37.19M	-10.75M	9.91M	3.15M	298.31K
Treasury Stock	-856.3K	-856.54K	-856K	0	0	0	0	0	0	0
Accumulated OCI	21.38M	24.85M	23.74M	-14K	11.06M	6.11M	258.72K	-172.38K	48.09K	0
Minority Interest	2.97M	2.82M	2.75M	2.45M	1.94M	312K	2.75K	25.1K	0	0

Key Metrics

Growth RegimeContracting

ProfitabilityNegative

Balance SheetVulnerable

Cash FlowBurning

Top Statement Risk

Liquidity and margin erosion

Balance Sheet Quality Deteriorating Rapidly

As reported in recent financial filings, LGCL's total assets have fluctuated significantly, with the most recent 2024Q4 data showing $403.3 million in assets, yet the underlying quality appears compromised by the accumulation of goodwill and a reliance on debt to sustain operations during revenue contraction.

The shift from a debt-free status in 2021 to a $68.0 million debt load by 2024Q4 suggests that the company is increasingly reliant on external financing to bridge operational gaps. This trajectory warrants caution, as the expansion of the balance sheet does not appear to be driven by productive, high-margin asset growth.

Rising Leverage Amidst Operational Headwinds

Based on the company's reported figures, the debt-to-equity ratio has climbed to 0.26 as of 2024Q4, reflecting a strategic shift toward debt financing that may indicate difficulty in generating sufficient internal cash flow to support the firm's current service-heavy business model in a cooling market.

While a 0.26 D/E ratio remains relatively modest, the rapid transition from zero debt in 2022 to current levels suggests that management is increasingly utilizing leverage to manage liquidity. Investors should monitor whether this debt is being deployed for growth initiatives or merely to cover short-term working capital deficits.

Liquidity Buffer Facing Significant Pressure

According to the latest quarterly balance sheet, LGCL's current ratio has compressed to 1.91, down from 2.43 earlier in 2024, signaling that the company's ability to cover short-term obligations is weakening as cash reserves dwindle relative to the firm's total liabilities and ongoing operational requirements.

The decline in cash from $51.5 million in 2024Q2 to $30.4 million in 2024Q4 is particularly concerning given the company's thin net margins. This reduction in liquidity may limit the firm's flexibility to navigate further market volatility or invest in the platform technology required to maintain its competitive edge.

Goodwill Introduction Masks Asset Quality

As disclosed in recent SEC filings, the emergence of $32.5 million in goodwill on the 2024Q4 balance sheet introduces a new layer of risk, as this intangible asset may be subject to future impairment charges if the company's recruitment and outsourcing segments fail to meet performance expectations.

The sudden appearance of goodwill suggests recent acquisitions or accounting adjustments that may not reflect tangible value creation. Analysts should be wary of this line item, as it potentially inflates the book value of equity and could lead to significant write-downs if the underlying business units continue to struggle with profitability.

LGCL — Frequently Asked Questions

Quick answers to the most common questions about buying LGCL stock.

What are the total assets of Lucas GC Limited Ordinary Shares (LGCL)?

As of 2025, Lucas GC Limited Ordinary Shares (LGCL) had total assets of $454.1M including $225.3M in current assets.

How much debt does Lucas GC Limited Ordinary Shares (LGCL) have?

Lucas GC Limited Ordinary Shares (LGCL) carries total debt of $94.9M, offset by $35.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.

What is the book value or shareholders' equity of Lucas GC Limited Ordinary Shares?

Lucas GC Limited Ordinary Shares (LGCL) has total shareholders' equity (book value) of $311.5M ($16305.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.

What is Lucas GC Limited Ordinary Shares's current ratio and liquidity?

Lucas GC Limited Ordinary Shares (LGCL) reported a current ratio of 1.61x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.