Financial leverage remains elevated with a debt-to-equity ratio of 4.60, reflecting a heavy reliance on external capital to support a $25.3 billion asset base.
| Total Current Assets | 17.4B | 16.41B | 15.26B | 11.69B |
| Cash & Short-Term Investments | - | - | - | - |
| Cash Only | 1.18B | 2.12B | 1.22B | 412.35M |
| Short-Term Investments | 158.71M | 182.03M | 38.8M | 75M |
| Accounts Receivable | - | - | - | - |
| Days Sales Outstanding | - | - | - | - |
| Inventory | 15.46B | 13.61B | 13.52B | 10.5B |
| Days Inventory Outstanding | 233.44 | 290.7 | 430.19 | 356.64 |
| Other Current Assets | 43.73M | 64.16M | 58.42M | 57.96M |
| Total Non-Current Assets | 7.88B | 6.07B | 5.95B | 6.61B |
| Property, Plant & Equipment | 4.75B | 4.84B | 5.13B | 5.74B |
| Fixed Asset Turnover | 5.75x | 4.27x | 2.75x | 2.31x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 25.75M | 27.79M | 16.69M | 19.95M |
| Long-Term Investments | 0 | - | - | - |
| Other Non-Current Assets | - | - | - | - |
| Total Assets | 25.28B | 22.48B | 21.21B | 18.3B |
| Asset Turnover | 1.18x | 0.92x | 0.67x | 0.72x |
| Asset Growth % | 18960.57% | 6.01% | 15.91% | - |
| Total Current Liabilities | 7.45B | 7.88B | 10.4B | 5.89B |
| Accounts Payable | 308.61M | 597.71M | 306.15M | 500.47M |
| Days Payables Outstanding | 8.22 | 12.76 | 9.74 | 17 |
| Short-Term Debt | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - |
| Other Current Liabilities | 330.27M | 254.96M | 205.31M | 153.51M |
| Current Ratio | 2.34x | 2.08x | 1.47x | 1.99x |
| Quick Ratio | 0.26x | 0.36x | 0.17x | 0.20x |
| Cash Conversion Cycle | 225.22 | - | - | - |
| Total Non-Current Liabilities | 13.79B | 11.09B | 9.05B | 11.24B |
| Long-Term Debt | 8.18B | 6.86B | 4.59B | 6.27B |
| Capital Lease Obligations | 0 | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - |
| Other Non-Current Liabilities | - | - | - | - |
| Total Liabilities | 21.24B | 18.97B | 19.45B | 17.12B |
| Total Debt | 18.57B | 17.38B | 18.16B | 15.98B |
| Net Debt | 17.39B | 15.26B | 16.94B | 15.57B |
| Debt / Equity | 4.60x | 4.94x | 10.30x | 13.58x |
| Debt / EBITDA | 10.81x | 11.69x | 17.71x | 16.01x |
| Net Debt / EBITDA | 10.12x | 10.26x | 16.52x | 15.59x |
| Interest Coverage | - | 6.47x | 2.23x | 2.92x |
| Total Equity | 4.03B | 3.52B | 1.76B | 1.18B |
| Equity Growth % | 27410.65% | 99.52% | 49.84% | - |
| Book Value per Share | 168.74 | 162.24 | 85.63 | 5.77 |
| Total Shareholders' Equity | 4.03B | 3.52B | 1.76B | 1.18B |
| Common Stock | 939.58M | 924.82M | 235M | 100M |
| Retained Earnings | 1.84B | 1.4B | 643.77M | 320.16M |
| Treasury Stock | -3M | -2.54M | -2.54M | -2.54M |
| Accumulated OCI | -12M | -9.66M | -17.32M | -10.05M |
| Minority Interest | 0 | 0 | 0 | 0 |
High leverage and liquidity
As reported in recent financial statements, LGPS has seen its total assets balloon from $21.2 billion in 2024Q4 to $25.3 billion by 2026Q2, reflecting an aggressive growth strategy that has significantly altered the company's balance sheet composition and increased its overall financial footprint within the Japanese market.
The rapid expansion in asset size appears to be driven by a surge in property acquisitions, which necessitates a careful evaluation of whether this growth is sustainable or merely a result of lumpy project cycles. Investors should monitor whether this trajectory leads to improved returns on invested capital or if it merely increases the company's exposure to cyclical real estate downturns.
According to the latest quarterly filings, LGPS maintains a debt-to-equity ratio of 4.60, which, while showing a slight improvement from the 10.30 observed in 2024Q4, still indicates a heavy reliance on external financing to fund its ongoing property renovation and development activities across Japan.
This high level of leverage suggests that the company's financial health is sensitive to interest rate fluctuations and credit market conditions. The reliance on debt to fuel growth warrants further investigation into the maturity profile of these obligations and the potential for refinancing risks should market liquidity tighten.
Based on the provided balance sheet data, the current ratio has fluctuated significantly, settling at 2.34 in 2026Q2, which suggests that while the company maintains a nominal buffer, its ability to meet short-term obligations remains tied to the successful and timely liquidation of its property inventory.
The cash position of $1.2 billion relative to the scale of operations appears thin, potentially limiting the company's ability to absorb unexpected operational shocks or market volatility. This liquidity profile implies that any delay in property sales could quickly translate into a cash crunch, necessitating a cautious outlook on the firm's short-term financial resilience.
As indicated by the company's reported figures, the concentration of value in property assets rather than liquid cash or high-quality receivables suggests that the balance sheet may be more vulnerable to real estate market corrections than the headline equity figures might initially imply to an outside observer.
The potential for impairment in the 'Real Estate for Sale' portfolio represents a significant non-obvious risk, especially if urban property values in Tokyo or Okinawa experience a downturn. Investors should remain wary of the possibility that the company's reliance on project-based revenue recognition masks underlying volatility in the quality and marketability of its asset base.
Quick answers to the most common questions about buying LGPS stock.
As of 2025, LogProstyle Inc. (LGPS) had total assets of $22.48B including $16.41B in current assets.
LogProstyle Inc. (LGPS) carries total debt of $17.38B. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
LogProstyle Inc. (LGPS) has total shareholders' equity (book value) of $3.52B ($162.24 book value per share). Book value represents the net worth of the company belonging to common stock holders.
LogProstyle Inc. (LGPS) reported a current ratio of 2.08x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.