The company's financial position is increasingly vulnerable, evidenced by a negative equity balance of $852.9 million and a current ratio of only 0.42 as of 2024Q4.
| Total Current Assets | 1.04B | 911.09M | 1.04B | 883.71M | 823.46M | 1.03B |
| Cash & Short-Term Investments | 103.07M | 73.43M | 103.07M | 422.94M | 739M | 531.45M |
| Cash Only | 103.07M | 73.43M | 103.07M | 418.94M | 739M | 531.45M |
| Short-Term Investments | 0 | 0 | 0 | 4M | 0 | 0 |
| Accounts Receivable | 264.4M | 150.98M | 264.4M | 99.09M | 8.66M | 50.8M |
| Days Sales Outstanding | 64.6 | 106.16 | 104.4 | 53.27 | 330.43 | 5.03K |
| Inventory | 188.58M | 121.36M | 188.58M | 286.59M | 22.7M | 1.98M |
| Days Inventory Outstanding | 128.87 | 93.48 | 76.93 | 181.35 | 233.88 | 231.24 |
| Other Current Assets | 462.56M | 375.87M | 462.56M | 75.03M | 14.15M | 438.52M |
| Total Non-Current Assets | 1.24B | 1.04B | 1.24B | 700.97M | 755.94M | 291.74M |
| Property, Plant & Equipment | 419.12M | 226.89M | 419.12M | 527.72M | 412.19M | 169.26M |
| Fixed Asset Turnover | 1.90x | 2.29x | 2.21x | 1.29x | 0.02x | 0.02x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 169.31M | 116.47M | 169.31M | 116.36M | 116.36M | 116.12M |
| Long-Term Investments | 534.33M | 48M | 9.72M | 7.79M | 8.65M | 286.53M |
| Other Non-Current Assets | 644.57M | 650.29M | 644.57M | 44.89M | 11.28M | 6.35M |
| Total Assets | 2.29B | 1.95B | 2.29B | 1.58B | 1.58B | 1.32B |
| Asset Turnover | 0.37x | 0.27x | 0.40x | 0.43x | 0.01x | 0.00x |
| Asset Growth % | 2154.09% | -14.57% | 44.24% | 0.33% | 19.9% | - |
| Total Current Liabilities | 2.47B | 2.4B | 2.47B | 1.76B | 932.88M | 731.73M |
| Accounts Payable | 472.19M | 513.22M | 472.19M | 360.54M | 7.24M | 0 |
| Days Payables Outstanding | 197.71 | 395.3 | 192.63 | 228.14 | 74.54 | - |
| Short-Term Debt | 916.52M | 1.39B | 916.52M | 663.98M | 395.09M | 161.13M |
| Deferred Revenue (Current) | 198.38M | 18.46M | 37.59M | 840K | 11.25M | 143K |
| Other Current Liabilities | 448.23M | -157.93M | 448.23M | 220.29M | 102.26M | 14.48M |
| Current Ratio | 0.42x | 0.38x | 0.42x | 0.50x | 0.88x | 1.40x |
| Quick Ratio | 0.35x | 0.33x | 0.35x | 0.34x | 0.86x | 1.40x |
| Cash Conversion Cycle | -4.24 | -195.66 | -11.29 | 6.48 | 489.77 | - |
| Total Non-Current Liabilities | 678.49M | 884.92M | 678.49M | 1.04B | 731.13M | 390.26M |
| Long-Term Debt | 177.25M | 377.51M | 177.25M | 157.31M | 148.56M | 0 |
| Capital Lease Obligations | 355.71M | 60.68M | 79.06M | 103.99M | 99.13M | 47.64M |
| Deferred Tax Liabilities | 477 | 698K | 0 | 0 | 207.58M | 141K |
| Other Non-Current Liabilities | 43.56M | 49.04M | 43.56M | 422.8M | 17.41M | 251K |
| Total Liabilities | 3.15B | 3.28B | 3.15B | 2.41B | 1.66B | 1.12B |
| Total Debt | 1.19B | 1.84B | 1.19B | 942.04M | 658.6M | 218.27M |
| Net Debt | 1.08B | 1.77B | 1.08B | 523.1M | -80.39M | -313.18M |
| Debt / Equity | -1.38x | - | - | - | - | 1.12x |
| Debt / EBITDA | -1.67x | - | - | - | - | - |
| Net Debt / EBITDA | -1.52x | - | - | - | - | - |
| Interest Coverage | -18.02x | -6.48x | -17.97x | -72.45x | -83.83x | - |
| Total Equity | -860.23M | -1.33B | -860.23M | -827.17M | -84.61M | 195.32M |
| Equity Growth % | -270.43% | -54.64% | -4% | -877.67% | -143.32% | - |
| Book Value per Share | -1.28 | -2.05 | -1.33 | -1.74 | -0.13 | 5.45 |
| Total Shareholders' Equity | -852.86M | -1.32B | -852.86M | -821.77M | -83.96M | 195.32M |
| Common Stock | 7K | 7K | 7K | 21K | 21K | 22K |
| Retained Earnings | -2.69B | -3.16B | -2.69B | -1.59B | -846.76M | -122.84M |
| Treasury Stock | 0 | -138.4M | 0 | 0 | 0 | 0 |
| Accumulated OCI | 55.16M | 39.82M | 55.16M | 25.27M | -8.74M | -69K |
| Minority Interest | -7.36M | -7.75M | -7.36M | -5.4M | -642K | 0 |
Imminent liquidity and solvency
As reported in the most recent quarterly filings, Lotus Technology's cash position has dwindled to $103.1 million, while the current ratio has compressed to 0.42, indicating a severe lack of short-term liquidity to cover mounting liabilities and sustain ongoing operational requirements in the coming quarters.
The sharp decline in cash reserves from $508.5 million in 2024Q1 to $103.1 million by 2024Q4 suggests that the company is consuming its remaining capital at an unsustainable pace. A current ratio well below 1.0 implies that current assets are insufficient to meet short-term obligations, which may force management to seek dilutive financing or rely on parent company support to avoid a liquidity crisis.
Based on financial statements, the company carries $1.2 billion in total debt as of 2024Q4, a figure that significantly outweighs its cash reserves and complicates the firm's ability to navigate its current period of negative profitability and contracting revenue growth.
The accumulation of debt in the face of persistent operating losses suggests that the company is financing its expansion through leverage rather than internal cash generation. This reliance on debt, combined with a negative equity position, indicates that the capital structure is highly strained and may limit the company's strategic options in a high-interest-rate environment.
According to the latest balance sheet data, Lotus Technology's equity has deteriorated into a negative $852.9 million position, a trend driven by the consistent accumulation of retained earnings losses that now total approximately $2.7 billion as of the end of 2024.
The transition to negative equity highlights the extent to which the company's historical and ongoing losses have eroded shareholder value. This situation suggests that the business model has yet to achieve the scale necessary to offset its heavy R&D and manufacturing costs, leaving the balance sheet in a precarious state.
As indicated by the 2024Q4 balance sheet, the company's asset base is heavily weighted toward non-liquid items, with net PPE of $419.1 million and goodwill of $169.3 million, leaving little room for asset-based financing to address the firm's immediate cash flow requirements.
The concentration of assets in fixed capital and intangibles suggests that the company is locked into a capital-intensive model that offers limited flexibility during periods of financial distress. Investors should monitor whether these assets can generate sufficient future returns to justify their carrying values, especially given the current contraction in revenue.
Quick answers to the most common questions about buying LOT stock.
As of 2025, Lotus Technology Inc. American Depositary Shares (LOT) had total assets of $1.95B including $911.1M in current assets.
Lotus Technology Inc. American Depositary Shares (LOT) carries total debt of $1.84B, offset by $73.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Lotus Technology Inc. American Depositary Shares (LOT) has total shareholders' equity (book value) of $-1322.5M ($-2.05 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Lotus Technology Inc. American Depositary Shares (LOT) reported a current ratio of 0.38x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.