The company's financial position appears fragile, with goodwill representing nearly 45% of total assets at $141.4M, while retained earnings have deteriorated to a deficit of $80.3M.
| Total Current Assets | 29.35M | 77.53M | 44.42M | 29.35M | 32.84M | 28.99M | 6.44M |
| Cash & Short-Term Investments | 7.59M | 10.35M | 12.55M | 7.59M | 9.59M | 11.41M | 5.05M |
| Cash Only | 7.59M | 7.14M | 9.56M | 7.59M | 9.59M | 11.41M | 5.05M |
| Short-Term Investments | 0 | 3.21M | 3M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 19.15M | 36.61M | 29.17M | 19.15M | 15.55M | 15.91M | 853.86K |
| Days Sales Outstanding | 59.21 | 105.62 | 124.85 | 83.56 | 86.19 | 182.6 | 54.93 |
| Inventory | 165.51K | 170.83K | 135.59K | 165.51K | 480.29K | 0 | 22.61K |
| Days Inventory Outstanding | 1.24 | 0.49 | 0.6 | 0.79 | 2.82 | - | 1.74 |
| Other Current Assets | 109.38K | 17.92M | 475.21K | 109.38K | 78.77K | 44.42K | 1.46K |
| Total Non-Current Assets | 284.49M | 124.84M | 268.15M | 284.49M | 101.1M | 111.8M | 14.02M |
| Property, Plant & Equipment | 5.04M | 22.13M | 5.01M | 5.04M | 4.7M | 3.56M | 108.77K |
| Fixed Asset Turnover | 16.35x | 5.72x | 17.02x | 16.59x | 14.02x | 8.93x | 52.16x |
| Goodwill | 141.4M | 30.36M | 131.91M | 141.4M | 29.83M | 32.28M | 0 |
| Intangible Assets | 133.97M | 68.58M | 127.98M | 133.97M | 65.38M | 75.42M | 13.37M |
| Long-Term Investments | 3.72K | 0 | 0 | 0 | 3.28K | 593 | 1.56K |
| Other Non-Current Assets | 3.52M | 2.25M | 1.16M | 3.52M | 1.18M | 0 | 0 |
| Total Assets | 313.84M | 202.38M | 312.57M | 313.84M | 133.94M | 140.79M | 20.47M |
| Asset Turnover | 0.27x | 0.63x | 0.27x | 0.27x | 0.49x | 0.23x | 0.28x |
| Asset Growth % | 134.32% | -35.25% | -0.41% | 134.32% | -4.87% | 587.93% | - |
| Total Current Liabilities | 28.78M | 88.62M | 40.33M | 28.78M | 28.52M | 33.36M | 6.56M |
| Accounts Payable | 12.73M | 32.42M | 19.07M | 12.73M | 9.53M | 9.14M | 1.98M |
| Days Payables Outstanding | 40.72 | 92.45 | 84.62 | 60.76 | 56 | 102.97 | 152.96 |
| Short-Term Debt | 5.61M | 45.96M | 13.88M | 5.61M | 6.42M | 2.67M | 0 |
| Deferred Revenue (Current) | 803.53K | 1.61M | 1.04M | 500.79K | 208.69K | 3.42M | 8.21K |
| Other Current Liabilities | 7.86M | 1.43M | 0 | 7.86M | 0 | 0 | 0 |
| Current Ratio | 1.02x | 0.87x | 1.10x | 1.02x | 1.15x | 0.87x | 0.98x |
| Quick Ratio | 1.01x | 0.87x | 1.10x | 1.01x | 1.13x | 0.87x | 0.98x |
| Cash Conversion Cycle | 19.74 | 13.66 | 40.83 | 23.59 | 33.01 | - | -96.29 |
| Total Non-Current Liabilities | 32.32M | 20.84M | 32.77M | 32.32M | 15.96M | 18.87M | 20.78M |
| Long-Term Debt | 3.71M | 3.19M | 3.38M | 3.71M | 0 | 1.42M | 0 |
| Capital Lease Obligations | 2.97M | 3.38M | 1.09M | 1.48M | 1.57M | 0 | 0 |
| Deferred Tax Liabilities | 48.73M | 11.19M | 23.66M | 24.66M | 10.85M | 12.8M | 0 |
| Other Non-Current Liabilities | 2.47M | 3.08M | 4.64M | 2.47M | 3.54M | 4.65M | 0 |
| Total Liabilities | 61.1M | 109.46M | 73.1M | 61.1M | 44.48M | 52.23M | 6.56M |
| Total Debt | 11.44M | 53.1M | 19.12M | 11.44M | 14.14M | 15.59M | 491.95K |
| Net Debt | 3.84M | 45.96M | 9.56M | 3.84M | 4.55M | 4.18M | -4.56M |
| Debt / Equity | 0.05x | 0.57x | 0.08x | 0.05x | 0.16x | 0.18x | 0.04x |
| Debt / EBITDA | -1.34x | - | - | - | - | - | - |
| Net Debt / EBITDA | -0.45x | - | - | - | - | - | - |
| Interest Coverage | -47.14x | -111.37x | -27.01x | -26.63x | -12.14x | -14.54x | -16.29x |
| Total Equity | 252.74M | 92.92M | 239.46M | 252.74M | 89.46M | 88.56M | 13.9M |
| Equity Growth % | 182.52% | -61.2% | -5.25% | 182.52% | 1.01% | 537.05% | - |
| Book Value per Share | 9.02 | 1.11 | 6.36 | 9.02 | 3.19 | 3.16 | 0.50 |
| Total Shareholders' Equity | 247.74M | 88.31M | 234.53M | 247.74M | 84.46M | 82.22M | 13.9M |
| Common Stock | 3.72K | 28.05K | 11.34K | 3.72K | 3.28K | 2.75K | 1.56K |
| Retained Earnings | -80.3M | -366.48M | -128.92M | -80.3M | -29.25M | -14.67M | -6.6M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 5.5M | 24.88M | -10.45M | 5.5M | 244.53K | 66.55K | -279.3K |
| Minority Interest | 5M | 4.61M | 4.94M | 5M | 5M | 6.35M | 0 |
Liquidity and solvency constraints
According to recent financial filings, NIPG's total assets grew from $133.9M in 2022Q4 to $313.8M by 2023Q4, yet this expansion appears driven by intangible asset accumulation rather than organic growth, leaving the underlying balance sheet quality increasingly disconnected from the company's actual cash-generating capacity.
The rapid increase in total assets is largely attributable to goodwill and intangible assets, which may warrant further investigation regarding potential impairment risks. This trajectory suggests that the company is prioritizing inorganic scale over the development of a self-sustaining, asset-light operational foundation.
Based on reported figures, goodwill ballooned to $141.4M by 2023Q4, representing nearly 45% of total assets, which suggests that the company's valuation is heavily reliant on the success of past acquisitions rather than tangible, productive assets like PPE, which remain stagnant at approximately $5.0M.
The heavy weighting toward goodwill implies that the balance sheet is sensitive to the performance of acquired entities. Investors should monitor whether these intangible assets can actually support future cash flows or if they represent overpaid premiums that may eventually require significant write-downs.
As reported in recent balance sheets, NIPG's cash position declined to $7.6M in 2023Q4, a significant reduction from the $12.1M held in 2023Q2, which indicates a narrowing buffer against the company's ongoing operational losses and high fixed-cost structure.
With a current ratio hovering near 1.02, the company possesses minimal margin for error in managing its short-term obligations. This liquidity profile suggests that the firm may face increasing pressure to secure external financing to maintain its current competitive footprint in the esports sector.
Based on the provided financial statements, NIPG's retained earnings have deteriorated to -$80.3M as of 2023Q4, reflecting a consistent pattern of value destruction that has significantly eroded the company's equity base despite the aggressive M&A activity undertaken over the past year.
The deepening deficit in retained earnings highlights the difficulty the company faces in converting its revenue growth into bottom-line profitability. This trend suggests that shareholders are currently funding a business model that has yet to demonstrate a clear path toward positive equity accretion.
As indicated by the balance sheet data, the reliance on $141.4M in goodwill and intangible assets creates a potentially misleading picture of solvency, as these assets may lack liquidity and could be subject to rapid impairment if the underlying esports team performance falters.
The disconnect between the company's $247.7M in reported equity and its limited cash reserves suggests that the book value may not accurately reflect the company's true liquidation value. Analysts should be wary of the high proportion of non-tangible assets when assessing the firm's actual financial resilience.
Quick answers to the most common questions about buying NIPG stock.
As of 2025, NIP Group Inc. (NIPG) had total assets of $202.4M including $77.5M in current assets.
NIP Group Inc. (NIPG) carries total debt of $53.1M, offset by $10.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
NIP Group Inc. (NIPG) has total shareholders' equity (book value) of $88.3M ($1.11 book value per share). Book value represents the net worth of the company belonging to common stock holders.
NIP Group Inc. (NIPG) reported a current ratio of 0.87x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.