The company's financial stability is increasingly precarious, evidenced by a debt-to-equity ratio of 2.80 and a substantial $15.9 million in goodwill that may be subject to future impairment.
| Total Current Assets | 20.93M | 13.84M | 20.93M | 29.75M | 38.9M | 34.81M | 35.7M |
| Cash & Short-Term Investments | 2.96M | 966.81K | 2.96M | 3.98M | 5.08M | 3.55M | 3.55M |
| Cash Only | 2.96M | 966.81K | 2.96M | 3.98M | 5.08M | 3.55M | 3.55M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 4.17M | 4.26M | 4.17M | 7.28M | 8.55M | 7.96M | 13.17M |
| Days Sales Outstanding | 68.84 | 106.52 | 70.6 | 104.43 | 56.41 | 60.95 | 128.19 |
| Inventory | 6.43M | 2.48M | 6.43M | 8.54M | 13.13M | 10.95M | 9.94M |
| Days Inventory Outstanding | 107.37 | 68.78 | 144.08 | 135.09 | 135.27 | 127.82 | 132.19 |
| Other Current Assets | 592.65K | 893.19K | 592.65K | 628.16K | 603.34K | 641.03K | 696.13K |
| Total Non-Current Assets | 19.87M | 534.72K | 19.87M | 24.57M | 29.14M | 29.39M | 24.97M |
| Property, Plant & Equipment | 3.96M | 534.72K | 3.96M | 3.75M | 8.73M | 8.38M | 6.34M |
| Fixed Asset Turnover | 7.22x | 27.27x | 5.45x | 6.79x | 6.34x | 5.69x | 5.92x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 15.92M | 0 | 15.92M | 20.52M | 19.31M | 19.9M | 18.63M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | -1K | 0 | -1K | 300K | 1.11M | 1.1M | 0 |
| Total Assets | 40.81M | 14.38M | 40.81M | 54.32M | 68.05M | 64.2M | 60.66M |
| Asset Turnover | 0.71x | 1.01x | 0.53x | 0.47x | 0.81x | 0.74x | 0.62x |
| Asset Growth % | -60.89% | -64.77% | -24.88% | -20.17% | 5.99% | 5.83% | - |
| Total Current Liabilities | 18.9M | 10.55M | 18.9M | 23.17M | 37.57M | 27.38M | 20.46M |
| Accounts Payable | 1.84M | 2.81M | 1.84M | 2.35M | 1.99M | 3.39M | 4.43M |
| Days Payables Outstanding | 42.04 | 77.68 | 41.28 | 37.19 | 20.53 | 39.6 | 58.94 |
| Short-Term Debt | 12.59M | 6.29M | 12.59M | 12.95M | 12.11M | 14.34M | 6.95M |
| Deferred Revenue (Current) | 4.81M | 258.1K | 2.77M | 775.18K | 815.46K | 1.42M | 691.32K |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 24.2M | 0 | 0 |
| Current Ratio | 1.11x | 1.31x | 1.11x | 1.28x | 1.04x | 1.27x | 1.74x |
| Quick Ratio | 0.77x | 1.08x | 0.77x | 0.92x | 0.69x | 0.87x | 1.26x |
| Cash Conversion Cycle | 134.17 | 97.62 | 173.41 | 202.33 | 171.15 | 149.18 | 201.45 |
| Total Non-Current Liabilities | 12.8M | 53.72K | 12.8M | 12.97M | 17.99M | 28.79M | 33.33M |
| Long-Term Debt | 12.34M | 0 | 12.34M | 12.83M | 17.92M | 28.61M | 18.17M |
| Capital Lease Obligations | 750.99K | 53.72K | 462.11K | 133.97K | 65.51K | 182.63K | 153.77K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 15.01M |
| Total Liabilities | 31.7M | 10.61M | 31.7M | 36.14M | 55.56M | 56.17M | 53.79M |
| Total Debt | 25.51M | 6.38M | 25.51M | 25.98M | 42.31M | 43.23M | 25.33M |
| Net Debt | 22.55M | 5.42M | 22.55M | 22M | 37.23M | 39.69M | 21.77M |
| Debt / Equity | 2.80x | 1.69x | 2.80x | 1.43x | 3.39x | 5.39x | 3.69x |
| Debt / EBITDA | -5.89x | - | - | - | 4.84x | 7.17x | 15.78x |
| Net Debt / EBITDA | -5.21x | - | - | - | 4.26x | 6.58x | 13.57x |
| Interest Coverage | -2.59x | -13.88x | -8.50x | -6.53x | 3.64x | 1.97x | 0.27x |
| Total Equity | 9.11M | 3.77M | 9.11M | 18.18M | 12.49M | 8.03M | 6.87M |
| Equity Growth % | 44.35% | -58.6% | -49.91% | 45.55% | 55.61% | 16.86% | - |
| Book Value per Share | 0.55 | 0.23 | 0.55 | 1.30 | 0.95 | 0.61 | 0.52 |
| Total Shareholders' Equity | 9.11M | 3.77M | 9.11M | 18.18M | 12.49M | 8.03M | 6.87M |
| Common Stock | 132.43K | 132.43K | 132.43K | 132.43K | 105.26K | 105.26K | 105.26K |
| Retained Earnings | 0 | 0 | 0 | -11.58M | 358.19K | -4.42M | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 8.98M | 3.64M | 8.98M | -370.94K | 12.39M | 12.34M | 6.76M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity and insolvency
According to historical balance sheet data, NWGL has seen total assets decline from $68.0 million in 2022Q4 to $40.8 million by 2024Q4, signaling a significant contraction in the company's operational footprint and a potential reduction in the scale of its forestry concession holdings.
The consistent downward trend in total assets suggests that the company is struggling to maintain its resource base amidst ongoing operational losses. This trajectory implies that the firm may be liquidating or failing to replace its core assets, which warrants further investigation into the long-term viability of its integrated business model.
As reported in recent financial statements, NWGL's debt-to-equity ratio has fluctuated significantly, reaching 2.80 in 2024Q4, which indicates that the company's reliance on debt financing has become increasingly precarious as its equity base has eroded due to persistent net losses and operational inefficiencies.
The shift in leverage metrics suggests that the company is increasingly dependent on external debt to fund its operations, which may limit its financial flexibility. Investors should monitor whether the current debt load remains sustainable given the company's inability to generate positive operating cash flow.
Based on the latest quarterly filings, NWGL's cash position has plummeted to $3.0 million, and with a current ratio of 1.11, the company appears to have a very limited buffer against further operational shocks or unexpected liquidity requirements in the near term.
The narrow current ratio suggests that the company's ability to meet its short-term obligations is highly sensitive to the timing of its receivables and inventory turnover. This liquidity profile appears to be a significant risk factor that may necessitate urgent capital raising or asset divestitures.
Financial disclosures indicate that goodwill remains a substantial portion of total assets at $15.9 million, which may be misleading given the company's recent 32.29% revenue decline and the potential for future impairment charges if the core forestry business fails to recover its expected value.
The presence of significant goodwill on the balance sheet, despite the company's negative operating margins, suggests that the carrying value of these intangible assets may be overstated. This warrants further investigation into whether the company's long-lived assets are truly reflective of their current economic utility.
Quick answers to the most common questions about buying NWGL stock.
As of 2025, CL Workshop Group Limited (NWGL) had total assets of $14.4M including $13.8M in current assets.
CL Workshop Group Limited (NWGL) carries total debt of $6.4M, offset by $1.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
CL Workshop Group Limited (NWGL) has total shareholders' equity (book value) of $3.8M ($0.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
CL Workshop Group Limited (NWGL) reported a current ratio of 1.31x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.