The company's financial position is increasingly fragile, with total assets plummeting to $2.8M in 2026Q3 from $14.9M in 2025Q4, alongside a retained earnings deficit of $8.1M.
| Total Current Assets | 2.61M | 10.38M | 7.21M | 5.14M |
| Cash & Short-Term Investments | 295.83K | 1.26M | 1.36M | 79.47K |
| Cash Only | 295.83K | 1.26M | 1.36M | 79.47K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 225K | 1.26M | 1.38M | 375.19K |
| Days Sales Outstanding | 51.49 | 41.49 | 42.18 | 12.17 |
| Inventory | 0 | 4.78M | 4.28M | 4.21M |
| Days Inventory Outstanding | 184.06 | 272.75 | 237.37 | 243.14 |
| Other Current Assets | 1.16M | 0 | 0 | 512 |
| Total Non-Current Assets | 157.11K | 4.55M | 5.35M | 2.03M |
| Property, Plant & Equipment | 17.52K | 4.12M | 5.02M | 1.96M |
| Fixed Asset Turnover | 0.01x | 2.69x | 2.37x | 5.74x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 139.58K | 177.08K | 227.08K | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 |
| Total Assets | 2.76M | 14.94M | 12.56M | 7.17M |
| Asset Turnover | 0.64x | 0.74x | 0.95x | 1.57x |
| Asset Growth % | -60.41% | 18.94% | 75.21% | - |
| Total Current Liabilities | 454.03K | 6.78M | 5.82M | 5.34M |
| Accounts Payable | 4.58K | 3.88M | 1.68M | 1.61M |
| Days Payables Outstanding | 3.83K | 221.47 | 93.37 | 92.82 |
| Short-Term Debt | 369 | 118.75K | 590.73K | 102.73K |
| Deferred Revenue (Current) | 1.26M | 730.48K | 564.62K | 408.75K |
| Other Current Liabilities | 0 | 0 | 0 | 0 |
| Current Ratio | 5.74x | 1.53x | 1.24x | 0.96x |
| Quick Ratio | 5.74x | 0.83x | 0.50x | 0.17x |
| Cash Conversion Cycle | -3.59K | 92.77 | 186.18 | 162.48 |
| Total Non-Current Liabilities | 0 | 3.19M | 3.92M | 1.6M |
| Long-Term Debt | 0 | 33.52K | 100K | 155.09K |
| Capital Lease Obligations | 6.06M | 3.15M | 3.82M | 1.45M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 454.03K | 9.97M | 9.74M | 6.94M |
| Total Debt | 12.58K | 4.29M | 5.64M | 2.07M |
| Net Debt | -283.25K | 3.02M | 4.28M | 1.99M |
| Debt / Equity | 0.01x | 0.86x | 2.00x | 9.26x |
| Debt / EBITDA | -0.00x | - | 2.20x | 1.13x |
| Net Debt / EBITDA | 0.00x | - | 1.67x | 1.09x |
| Interest Coverage | -193.64x | -131.59x | 49.92x | 60.96x |
| Total Equity | 2.31M | 4.97M | 2.82M | 223.34K |
| Equity Growth % | 82.72% | 76.21% | 1163.29% | - |
| Book Value per Share | 0.11 | 0.33 | 0.17 | 0.01 |
| Total Shareholders' Equity | 2.31M | 4.97M | 2.82M | 223.34K |
| Common Stock | 20.2K | 17.05K | 15K | 14.51K |
| Retained Earnings | -8.14M | -3.98M | 421.42K | -576.66K |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Liquidity and capital erosion
As reported in recent financial filings, Marwynn Holdings has seen its total assets plummet from $14.9M in 2025Q4 to just $2.8M by 2026Q3, signaling a severe contraction in the company's resource base that warrants significant concern regarding its long-term viability as a going concern.
The dramatic reduction in total assets suggests that the company is either liquidating core holdings or suffering from massive write-downs that are not yet fully transparent. This rapid shrinkage implies that the firm's initial aggregation strategy is failing to stabilize, leaving the balance sheet increasingly hollowed out.
Based on the company's 2026Q3 balance sheet, cash reserves have dwindled to $295.8K, a sharp decline from the $1.4M reported in 2024Q4, which indicates that the firm's liquidity buffer is rapidly eroding under the pressure of persistent operating losses and limited external financing access.
While the current ratio of 5.74 appears superficially healthy, it is likely distorted by the collapse of total liabilities and the lack of meaningful current assets. Investors should monitor the burn rate closely, as the current cash position provides very little margin for error in funding ongoing operations.
According to the latest quarterly data, Marwynn's retained earnings have deteriorated to a deficit of $8.1M, reflecting the cumulative impact of sustained operational losses since the company's incorporation in 2024, which undermines the quality of the equity base and signals significant value destruction for shareholders.
The consistent decline in retained earnings suggests that the business model is not generating sufficient margins to cover its overhead, effectively consuming the capital provided by investors. This trend indicates that the equity base is being eroded by persistent negative performance rather than being bolstered by profitable growth.
As indicated by the 2026Q3 financial statements, the presence of $139.6K in goodwill on a shrinking asset base suggests that potential impairment risks remain, which could further pressure the company's already fragile equity position if the underlying business units fail to meet performance expectations.
The reliance on intangible assets in a period of revenue contraction warrants further investigation into whether these valuations are still supported by future cash flow projections. If the company is forced to write down these assets, it could trigger a further weakening of the balance sheet and limit future financing flexibility.
Quick answers to the most common questions about buying MWYN stock.
As of 2025, Marwynn Holdings, Inc. Common stock (MWYN) had total assets of $14.9M including $10.4M in current assets.
Marwynn Holdings, Inc. Common stock (MWYN) carries total debt of $4.3M, offset by $1.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Marwynn Holdings, Inc. Common stock (MWYN) has total shareholders' equity (book value) of $5.0M ($0.33 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Marwynn Holdings, Inc. Common stock (MWYN) reported a current ratio of 1.53x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.