The company's financial stability is increasingly strained, evidenced by a debt-to-equity ratio that surged to 2.34 in 2025Q4 alongside a critically low current ratio of 0.46.
| Total Current Assets | 18.37M | 20.84M | 24.44M | 31.91M | 54.19M | 45.29M | 24.58M | 16M |
| Cash & Short-Term Investments | 5.07M | 1.02M | 854.52K | 3.66M | 684.34K | 5.34M | 1.34M | 1.48M |
| Cash Only | 5.07M | 1.02M | 854.52K | 3.66M | 684.34K | 5.34M | 1.34M | 1.48M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 4.18M | 5.96M | 7.13M | 6.36M | 26.98M | 12.9M | 3.8M | 3.94M |
| Days Sales Outstanding | 38.5 | 67.01 | 45.25 | 22.03 | 58.7 | 33.61 | 29.76 | 23.39 |
| Inventory | 8.02M | 13.55M | 15.93M | 21.53M | 25.99M | 26.5M | 17.73M | 10.34M |
| Days Inventory Outstanding | 78.8 | 160.64 | 104.81 | 84.68 | 63.07 | 75.28 | 151.86 | 66.24 |
| Other Current Assets | 1.1M | -718.01K | 302.91K | 150.97K | -882.26K | 18.09K | 1.13M | 238.45K |
| Total Non-Current Assets | 34.87M | 30.23M | 32.11M | 25.33M | 21.77M | 17.64M | 12.51M | 6.67M |
| Property, Plant & Equipment | 29.68M | 24.52M | 25.2M | 19.42M | 19.47M | 14.95M | 11.35M | 5.92M |
| Fixed Asset Turnover | 1.34x | 1.32x | 2.28x | 5.43x | 8.61x | 9.37x | 4.10x | 10.37x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 3.58M | 4.26M | 6.46M | 4.25M | 1.62M | 1.81M | 613.14K | 0 |
| Long-Term Investments | 310.44K | 0 | 205.59K | 210.87K | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.3M | 1.45M | 248.01K | 1.44M | 673.18K | 882.01K | 543.79K | 367.75K |
| Total Assets | 53.25M | 51.07M | 56.55M | 57.23M | 75.97M | 62.93M | 37.09M | 22.67M |
| Asset Turnover | 0.75x | 0.64x | 1.02x | 1.84x | 2.21x | 2.23x | 1.26x | 2.71x |
| Asset Growth % | 4.25% | -9.68% | -1.2% | -24.66% | 20.72% | 69.66% | 63.62% | - |
| Total Current Liabilities | 39.74M | 40.96M | 40.53M | 31.56M | 60.57M | 50.97M | 29.4M | 17.5M |
| Accounts Payable | 8.07M | 6.34M | 10.8M | 6.28M | 17.62M | 23.24M | 11.81M | 5.36M |
| Days Payables Outstanding | 79.36 | 75.23 | 71.05 | 24.7 | 42.76 | 66.01 | 101.19 | 34.37 |
| Short-Term Debt | 23.25M | 30.86M | 26.92M | 21.92M | 32.42M | 16.05M | 14.09M | 9.32M |
| Deferred Revenue (Current) | 1.29M | 0 | 0 | 0 | 5.69M | 0 | 0 | 1.32M |
| Other Current Liabilities | 6.94M | 3.39M | 2.3M | 2.89M | -2.63M | 11.63M | 2.58M | 1.49M |
| Current Ratio | 0.46x | 0.51x | 0.60x | 1.01x | 0.89x | 0.89x | 0.84x | 0.91x |
| Quick Ratio | 0.26x | 0.18x | 0.21x | 0.33x | 0.47x | 0.37x | 0.23x | 0.32x |
| Cash Conversion Cycle | 37.94 | 152.42 | 79 | 82.01 | 79.01 | 42.88 | 80.43 | 55.27 |
| Total Non-Current Liabilities | 2.55M | 2.23M | 1.93M | 52.59K | 199.6K | 700.6K | 0 | 0 |
| Long-Term Debt | 2.39M | 1.71M | 1.64M | 0 | 194.02K | 454.21K | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 12.89K | 0 | 5.58K | 246.39K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 162.98K | 516.94K | 271.59K | 52.59K | 0 | 0 | 0 | 0 |
| Total Liabilities | 42.29M | 43.19M | 42.46M | 31.61M | 60.76M | 51.67M | 29.4M | 17.5M |
| Total Debt | 25.64M | 32.66M | 28.68M | 22.01M | 32.81M | 16.8M | 14.09M | 9.32M |
| Net Debt | 20.56M | 31.63M | 27.83M | 18.36M | 32.13M | 11.46M | 12.74M | 7.84M |
| Debt / Equity | 2.34x | 4.14x | 2.04x | 0.86x | 2.16x | 1.49x | 1.83x | 1.80x |
| Debt / EBITDA | - | - | - | 7.75x | 6.38x | 3.68x | 9.83x | 5.81x |
| Net Debt / EBITDA | - | - | - | 6.47x | 6.24x | 2.51x | 8.89x | 4.88x |
| Interest Coverage | -5.48x | -5.46x | -7.60x | -0.27x | 2.42x | 5.03x | 1.38x | 1.85x |
| Total Equity | 10.96M | 7.89M | 14.09M | 25.63M | 15.2M | 11.26M | 7.69M | 5.17M |
| Equity Growth % | 38.99% | -44.02% | -45.02% | 68.57% | 34.97% | 46.47% | 48.82% | - |
| Book Value per Share | 4.80 | 131.99 | 251.46 | 544.14 | 281.52 | 208.57 | 142.40 | 95.68 |
| Total Shareholders' Equity | 7M | 5.19M | 13.96M | 25.34M | 14.32M | 10.6M | 7.25M | 4.8M |
| Common Stock | 149.8K | 1.77K | 1.4K | 1.4K | 1.01K | 1.01K | 1.01K | 3.73K |
| Retained Earnings | -28.54M | -17.03M | -6.97M | 3.98M | 3.78M | 682.78K | -2.03M | -3.09M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -730.84K | -2.24M | -2.33M | -1.9M | -316.02K | -565.67K | -971.81K | -647.25K |
| Minority Interest | 3.96M | 2.69M | 130.22K | 289K | 878.97K | 659.47K | 434.53K | 362.65K |
Capital Adequacy and Solvency
According to recent financial filings, Ostin Technology's equity has plummeted from $25.3M in 2022Q4 to $7.0M by 2025Q4, reflecting a persistent trend of value destruction as accumulated losses continue to erode the company's net asset position and overall financial stability within the competitive display assembly market.
The consistent decline in equity, coupled with a shift into negative retained earnings of -$28.5M, suggests that the company's operational losses are directly consuming shareholder capital. This trajectory indicates that the business model is currently unable to generate sufficient returns to maintain its capital base, necessitating a potential future recapitalization.
As reported in balance sheet data, the company's debt-to-equity ratio has surged to 2.34 in 2025Q4, up from 0.86 in 2022Q4, indicating that management is increasingly relying on external financing to sustain operations despite a shrinking equity cushion and persistent negative operating cash flows.
The rise in leverage during a period of operational contraction suggests that debt is being used to fund working capital gaps rather than strategic growth initiatives. Investors should monitor whether the company can continue to service these obligations given the lack of positive operating income to support interest payments.
Based on the latest quarterly reports, the current ratio has deteriorated to 0.46, a significant decline from the 1.01 level observed in 2022Q4, which highlights a severe lack of short-term liquidity to cover immediate liabilities and operational requirements in the current fiscal environment.
A current ratio well below 1.0 indicates that current assets are insufficient to meet short-term obligations, leaving the company highly vulnerable to liquidity shocks. This tight position suggests that any disruption in customer collections or inventory turnover could lead to immediate solvency challenges.
Financial statements indicate that PPE accounts for $29.7M of the $53.2M total asset base as of 2025Q4, demonstrating a high degree of capital intensity that limits the company's ability to pivot away from its current low-margin assembly operations without incurring significant impairment charges.
The concentration of assets in fixed manufacturing equipment, combined with $3.6M in goodwill, suggests that the balance sheet is heavily weighted toward non-liquid items. This asset structure may hinder the company's ability to respond to rapid technological shifts in the display industry, as capital is effectively locked into specialized production lines.
Analysis of the balance sheet reveals that the company's reliance on external debt to bridge the gap between cash and liabilities may mask underlying operational inefficiencies, as evidenced by the persistent negative retained earnings and the inability to maintain a positive cash balance above $5.1M.
The discrepancy between the company's revenue growth and its deteriorating liquidity position warrants further investigation into the quality of accounts receivable and inventory. It appears that the company may be extending aggressive credit terms to maintain volume, which could lead to future write-downs if those receivables prove uncollectible.
Quick answers to the most common questions about buying OST stock.
As of 2025, Ostin Technology Group Co., Ltd. (OST) had total assets of $53.2M including $18.4M in current assets.
Ostin Technology Group Co., Ltd. (OST) carries total debt of $25.6M, offset by $5.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Ostin Technology Group Co., Ltd. (OST) has total shareholders' equity (book value) of $7.0M ($4.80 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Ostin Technology Group Co., Ltd. (OST) reported a current ratio of 0.46x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.