Financial leverage has reached unsustainable levels, with a debt-to-equity ratio of 6.28 and a current ratio of 0.67, indicating a severe lack of liquidity to cover short-term obligations.
| Total Current Assets | 12.57M | 12.93M | 11.91M | 8.29M | 9.06M | 4.89M |
| Cash & Short-Term Investments | 1.52M | 775.36K | 1.1K | 2.57M | 898.06K | 714.28K |
| Cash Only | 1.52M | 775.36K | 0 | 2.57M | 898.06K | 714.28K |
| Short-Term Investments | 0 | 0 | 1.1K | 0 | 0 | 0 |
| Accounts Receivable | 768.87K | 3.96M | 605.52K | 1.19M | 4.84M | 2.23M |
| Days Sales Outstanding | 8.72 | 11.62 | 3.81 | 7.84 | 42.08 | 19.74 |
| Inventory | 5.63M | 5.75M | 6.8M | 2.98M | 2.32M | 1.94M |
| Days Inventory Outstanding | 23.51 | 21.46 | 53.48 | 25.32 | 25.13 | 21.58 |
| Other Current Assets | 4.66M | 0 | 1.24M | 0 | 272.05K | 0 |
| Total Non-Current Assets | 59.52M | 64.44M | 70.5M | 26.3M | 17.04M | 18.37M |
| Property, Plant & Equipment | 35.56M | 40.09M | 43.06M | 23.22M | 16.45M | 17.98M |
| Fixed Asset Turnover | 3.06x | 3.10x | 1.35x | 2.39x | 2.55x | 2.29x |
| Goodwill | 14.88M | 14.88M | 16.96M | 2.22M | 0 | 0 |
| Intangible Assets | 7M | 7.42M | 7.98M | 197.33K | 15.27K | 10.03K |
| Long-Term Investments | 1.72M | 1.09M | 1.54M | 203.44K | 203.44K | 74.37K |
| Other Non-Current Assets | 1.91M | 956.01K | 962.45K | 1.1K | 74.37K | 377.12K |
| Total Assets | 72.09M | 77.36M | 82.41M | 34.58M | 26.1M | 23.26M |
| Asset Turnover | 1.53x | 1.61x | 0.70x | 1.60x | 1.61x | 1.77x |
| Asset Growth % | -38.48% | -6.13% | 138.3% | 32.51% | 12.2% | - |
| Total Current Liabilities | 18.79M | 22.75M | 28.77M | 8.37M | 7.54M | 4.74M |
| Accounts Payable | 7.82M | 7.99M | 5.39M | 3.11M | 3.37M | 1.94M |
| Days Payables Outstanding | 32.46 | 29.78 | 42.41 | 26.39 | 36.55 | 21.57 |
| Short-Term Debt | 6.32M | 6.4M | 15.29M | 520.83K | 498.25K | 304.62K |
| Deferred Revenue (Current) | 2.01M | 701.93K | 965.7K | 449.33K | 370.93K | 176.85K |
| Other Current Liabilities | 3.71M | 0 | 773.03K | 0 | 0 | 0 |
| Current Ratio | 0.67x | 0.57x | 0.41x | 0.99x | 1.20x | 1.03x |
| Quick Ratio | 0.37x | 0.32x | 0.18x | 0.63x | 0.89x | 0.62x |
| Cash Conversion Cycle | -0.23 | 3.3 | 14.88 | 6.76 | 30.66 | 19.76 |
| Total Non-Current Liabilities | 45.74M | 42.98M | 42.92M | 25.42M | 19.4M | 18.72M |
| Long-Term Debt | 7.29M | 3.89M | 2.5M | 2.56M | 2.8M | 1.07M |
| Capital Lease Obligations | 139.74M | 36.76M | 39.02M | 22.71M | 16.55M | 17.58M |
| Deferred Tax Liabilities | 4.52M | 1.18M | 1.27M | 40.41K | 0 | 0 |
| Other Non-Current Liabilities | 3.4M | 1.14M | 140.26K | 105.64K | 55.15K | 60.55K |
| Total Liabilities | 64.53M | 65.72M | 71.69M | 33.79M | 26.95M | 23.45M |
| Total Debt | 47.5M | 51.24M | 60.89M | 27.56M | 20.91M | 19.97M |
| Net Debt | 45.98M | 50.46M | 60.89M | 24.99M | 20.02M | 19.25M |
| Debt / Equity | 6.28x | 4.40x | 5.68x | 34.78x | - | - |
| Debt / EBITDA | -6.12x | - | - | 60.67x | - | 17.63x |
| Net Debt / EBITDA | -5.92x | - | - | 55.01x | - | 17.00x |
| Interest Coverage | -4.78x | -1.08x | -21.76x | - | - | 9.35x |
| Total Equity | 7.56M | 11.64M | 10.72M | 792.26K | -847.04K | -192.02K |
| Equity Growth % | -36.34% | 8.59% | 1252.99% | 193.53% | -341.13% | - |
| Book Value per Share | 2.07 | 6.56 | 5.98 | 0.43 | -0.46 | -0.10 |
| Total Shareholders' Equity | 7.7M | 11.67M | 10.5M | 524.31K | -727.49K | -164.75K |
| Common Stock | 2.62K | 1.97K | 1.97K | 1.6K | 1.6K | 1.6K |
| Retained Earnings | -13.37M | -1.65M | -2.82M | 522.71K | -729.09K | -166.35K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | -143.87K | -27.24K | 221.12K | 267.95K | -119.55K | -27.27K |
Liquidity and solvency constraints
As reported in recent financial filings, Maison Solutions has seen its equity base contract from $13.3 million in 2024Q3 to $7.7 million by 2026Q3, signaling a weakening balance sheet trajectory driven by persistent net losses and an inability to generate sufficient internal capital to support its expansion.
The consistent decline in equity suggests that the company is consuming its capital base to fund operations rather than growing through retained earnings. Investors should monitor whether this trend continues, as the erosion of net assets may eventually limit the company's ability to secure favorable financing terms.
Based on the company's reported figures, the debt-to-equity ratio has surged to 6.28 in 2026Q3, reflecting a reliance on debt financing that appears increasingly unsustainable given the company's inability to maintain consistent operating profitability or positive cash flow from its core grocery operations.
The high leverage ratio indicates that the company is heavily reliant on external credit to maintain its footprint, which creates significant refinancing risk in a volatile interest rate environment. This level of indebtedness relative to equity suggests that the company's financial flexibility is severely constrained.
According to quarterly balance sheet data, the current ratio has remained consistently below 1.0, reaching 0.67 in 2026Q3, which indicates that Maison Solutions lacks the liquid assets necessary to cover its short-term obligations without relying on continuous access to external capital markets or credit facilities.
A current ratio below unity is a classic indicator of liquidity stress, suggesting that the company may struggle to meet its immediate liabilities if revenue growth stalls or supplier terms tighten. The minimal cash balance of $1.5 million provides a very thin buffer against operational shocks.
As indicated by the latest financial statements, goodwill accounts for approximately $14.9 million of the total $72.1 million in assets, suggesting that a significant portion of the company's balance sheet is tied to intangible value that may be subject to impairment if acquisition performance falters.
The reliance on goodwill and PPE as the primary components of the asset base highlights the capital-intensive nature of the company's growth strategy. If the acquired stores fail to meet performance expectations, the company may face non-cash write-downs that would further erode its already thin equity base.
Quick answers to the most common questions about buying MSS stock.
As of 2025, Maison Solutions Inc. Class A Common Stock (MSS) had total assets of $77.4M including $12.9M in current assets.
Maison Solutions Inc. Class A Common Stock (MSS) carries total debt of $51.2M, offset by $0.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Maison Solutions Inc. Class A Common Stock (MSS) has total shareholders' equity (book value) of $11.7M ($6.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Maison Solutions Inc. Class A Common Stock (MSS) reported a current ratio of 0.57x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.