The company's financial position appears increasingly vulnerable, evidenced by a shift from positive retained earnings to a $999.9K deficit alongside a limited $1.5M cash buffer as of 2025Q4.
| Total Current Assets | 9.86M | 8.64M | 6.66M | 908.48K | 749.17K | 634.5K |
| Cash & Short-Term Investments | 1.63M | 2.08M | 1.06M | 257.97K | 48.17K | 67.4K |
| Cash Only | 1.45M | 2.08M | 1.06M | 257.97K | 48.17K | 67.4K |
| Short-Term Investments | 177.98K | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 6.57M | 5.16M | 3.52M | 463.24K | 2.16M | 375.99K |
| Days Sales Outstanding | 205.51 | 186.07 | 157.38 | 143.04 | 659.21 | 215.08 |
| Inventory | 1.56M | 178.93K | 1.22M | 187.27K | 218.2K | 191.11K |
| Days Inventory Outstanding | 62.95 | 9.26 | 91.89 | 113.75 | 138.15 | 267.2 |
| Other Current Assets | 49.76K | 1.08M | 483.51K | 2.76M | -3.12M | 0 |
| Total Non-Current Assets | 21.4M | 5.32M | 4.05M | 539.92K | 498.47K | 217.45K |
| Property, Plant & Equipment | 6.01M | 3.9M | 3.34M | 459.87K | 358.09K | 176.66K |
| Fixed Asset Turnover | 1.94x | 2.60x | 2.45x | 2.57x | 3.35x | 3.61x |
| Goodwill | 44.07K | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 67.71K | 0 | 0 | 1 | 0 |
| Long-Term Investments | 0 | 1.36M | 0 | 0 | 70.39K | 40.73K |
| Other Non-Current Assets | 15.35M | 13.24K | 715.77K | 79.17K | 69.65K | 1 |
| Total Assets | 31.26M | 13.96M | 10.71M | 1.45M | 1.25M | 851.95K |
| Asset Turnover | 0.37x | 0.72x | 0.76x | 0.82x | 0.96x | 0.75x |
| Asset Growth % | 123.86% | 30.32% | 639.68% | 16.09% | 46.45% | - |
| Total Current Liabilities | 8.3M | 5.27M | 3.02M | 564.74K | 501K | 526.4K |
| Accounts Payable | 3.61M | 1.28M | 1.26M | 175.63K | 547.79K | 2.25M |
| Days Payables Outstanding | 145.77 | 66.03 | 95.2 | 106.67 | 346.82 | 3.14K |
| Short-Term Debt | 1.73M | 1.39M | 314.91K | 210.68K | 147.52K | 689.67K |
| Deferred Revenue (Current) | 108.36K | 515.65K | 401.94K | 8.81K | 16.22K | 28.18K |
| Other Current Liabilities | 0 | 60.17K | 834.13K | 6.71M | 5.19M | 246.11K |
| Current Ratio | 1.19x | 1.64x | 2.21x | 1.61x | 1.50x | 1.21x |
| Quick Ratio | 1.00x | 1.61x | 1.80x | 1.28x | 1.06x | 0.84x |
| Cash Conversion Cycle | 122.69 | 129.3 | 154.06 | 150.11 | 450.54 | -2.66K |
| Total Non-Current Liabilities | 900.42K | 241.96K | 246.89K | 9.93K | 20.59K | 26.23K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 727.23K | 20.41K | 0 | 0 | 6.96K | 0 |
| Deferred Tax Liabilities | 173.19K | 0 | 246.89K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 221.55K | 0 | 9.93K | 13.63K | 26.23K |
| Total Liabilities | 9.2M | 5.51M | 3.27M | 574.67K | 521.6K | 552.64K |
| Total Debt | 2.87M | 1.43M | 314.91K | 210.68K | 148.61K | 114.3K |
| Net Debt | 1.41M | -656K | -741.33K | -47.28K | 100.44K | 46.9K |
| Debt / Equity | 0.13x | 0.17x | 0.04x | 0.24x | 0.20x | 0.38x |
| Debt / EBITDA | 6.72x | - | 0.15x | 0.54x | 0.32x | 0.39x |
| Net Debt / EBITDA | 3.31x | - | -0.35x | -0.12x | 0.21x | 0.16x |
| Interest Coverage | -44.16x | -139.06x | 29.30x | 43.73x | 55.78x | 93.69x |
| Total Equity | 22.05M | 8.45M | 7.45M | 873.73K | 726.04K | 299.31K |
| Equity Growth % | 160.87% | 13.52% | 752.31% | 20.34% | 142.57% | - |
| Book Value per Share | 644.88 | 287.31 | 297.87 | 34.95 | 29.04 | 11.97 |
| Total Shareholders' Equity | 22.05M | 8.45M | 7.45M | 873.73K | 726.04K | 299.31K |
| Common Stock | 223 | 68 | 50 | 7 | 8 | 8 |
| Retained Earnings | -999.87K | 1.25M | 6.47M | 713.43K | 513.4K | 143.45K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 221.34K | -419.56K | 83.2K | 31.21K | 94.65K | 40.87K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and capital exhaustion
According to recent financial filings, Mingteng's equity base has experienced significant volatility, declining from $9.5M in 2024Q2 to $22.1M in 2025Q4, though this expansion is largely offset by a persistent accumulation of retained earnings deficits that now total nearly $1M as of the most recent quarter.
The trajectory of the balance sheet suggests a firm struggling to maintain capital integrity while absorbing consistent operational losses. Investors should monitor whether the recent increase in total assets is driven by productive capacity or merely an accumulation of non-liquid contract assets that may prove difficult to monetize.
As reported in financial statements, Mingteng's cash position has dwindled to $1.5M as of 2025Q4, representing a significant reduction from the $2.1M held in 2024Q4, which leaves the company with a precarious buffer against its ongoing operational burn and project-based working capital requirements.
The current ratio of 1.19 indicates a narrowing margin of safety, suggesting that the company may face difficulty meeting short-term obligations if revenue recognition cycles are delayed. This liquidity profile warrants further investigation into the company's ability to secure additional financing should the current cash burn persist.
Based on reported figures, Mingteng's net PPE has grown to $6.0M in 2025Q4 from $3.7M in 2024Q2, indicating a continued commitment to capital-intensive manufacturing despite the firm's inability to generate positive net income from its current asset base.
The shift toward higher PPE investment appears to reflect a strategic pivot toward more complex EV-related mold production, yet this strategy carries significant execution risk. The lack of meaningful goodwill suggests the company is growing through organic capital expenditure rather than acquisition, which places the entire burden of return on internal operational efficiency.
Analysis of the balance sheet reveals that Mingteng's retained earnings have swung from a positive $6.2M in 2024Q2 to a deficit of $999.9K by 2025Q4, a trend that highlights the erosion of shareholder value despite the company's ongoing efforts to scale its manufacturing operations.
This reversal in retained earnings is a critical indicator of the company's inability to achieve sustainable profitability, suggesting that the business model may be fundamentally misaligned with its cost structure. Investors should be wary of the potential for further equity dilution if the company is forced to raise capital to cover these mounting operational deficits.
Quick answers to the most common questions about buying MTEN stock.
As of 2025, Mingteng International Corporation Inc. (MTEN) had total assets of $31.3M including $9.9M in current assets.
Mingteng International Corporation Inc. (MTEN) carries total debt of $2.9M, offset by $1.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Mingteng International Corporation Inc. (MTEN) has total shareholders' equity (book value) of $22.1M ($644.88 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Mingteng International Corporation Inc. (MTEN) reported a current ratio of 1.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.