Shareholder equity has eroded significantly from $94.7 million in 2020Q4 to $23.6 million in 2025Q2, while the firm maintains a concerning $17.5 million in goodwill relative to its negligible revenue.
| Total Current Assets | 9.77M | 7.19M | 2.85M | 9.79M | 56.57M | 95.1M | 69.98M | 54.84M | 43.76M | 32.22M |
| Cash & Short-Term Investments | 5.21M | 5.02M | 341.78K | 2.05M | 19.73M | 36.56M | 33.65M | 14.8M | 8.88M | 4.27M |
| Cash Only | 412.05K | 261.36K | 341.78K | 2.05M | 19.73M | 36.56M | 33.65M | 14.8M | 8.88M | 4.27M |
| Short-Term Investments | 4.8M | 4.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 2.27M | 0 | 0 | 2M | 29.23M | 34.56M | 30.04M | 32.02M | 32.58M | 24.14M |
| Days Sales Outstanding | 16.57 | - | - | 31.29 | 119.23 | 176.48 | 168.51 | 182.79 | 193.35 | 166.26 |
| Inventory | 593.91K | 653.34K | 0 | 0 | 5.57M | 11.12M | 5.59M | 7.91M | 2.27M | 3.73M |
| Days Inventory Outstanding | 9.77 | 538.88 | - | - | 23.69 | 76.13 | 58.94 | 91.12 | 25.77 | 50.04 |
| Other Current Assets | 197.48K | 12.21K | 1.01M | 4.51M | 917.24K | 12.86M | 699.42K | 0 | 0 | 0 |
| Total Non-Current Assets | 27.52M | 28.38M | 4.88M | 26.55M | 40.86M | 17.65M | 15.11M | 10.84M | 9.64M | 9.31M |
| Property, Plant & Equipment | 347.67K | 126.44K | 0 | 13.47K | 11.25M | 10.51M | 7.9M | 7.81M | 8.79M | 8.52M |
| Fixed Asset Turnover | 105.33x | 0.57x | - | 1732.16x | 7.96x | 6.80x | 8.24x | 8.19x | 7.00x | 6.22x |
| Goodwill | 17.5M | 17.5M | 3.38M | 5.18M | 10.08M | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 9.68M | 10.75M | 1.49M | 1.87M | 10.1M | 1.99M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 12.6K | 19.49M | 5.63M | 5.14M | 7.22M | 3.03M | 847.5K | 789.09K |
| Total Assets | 37.29M | 35.56M | 7.73M | 36.34M | 97.43M | 112.74M | 85.1M | 65.68M | 53.4M | 41.53M |
| Asset Turnover | 0.44x | 0.00x | - | 0.64x | 0.92x | 0.63x | 0.76x | 0.97x | 1.15x | 1.28x |
| Asset Growth % | 492.29% | 360.15% | -78.73% | -62.7% | -13.59% | 32.49% | 29.57% | 23% | 28.58% | - |
| Total Current Liabilities | 8.5M | 6.4M | 2.56M | 20.95M | 17.93M | 15.11M | 5.51M | 4.76M | 8.84M | 18.01M |
| Accounts Payable | 2.66M | 1.73M | 0 | 0 | 12.16M | 8.84M | 1.55M | 1.66M | 5.4M | 6.06M |
| Days Payables Outstanding | 34.39 | 1.43K | - | - | 51.73 | 60.53 | 16.32 | 19.17 | 61.3 | 81.4 |
| Short-Term Debt | 5.29M | 2.35M | 2.25M | 0 | 2.27M | 2.24M | 2.03M | 1.04M | 1.49M | 2.13M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 553.6K | 2.32M | 303.1K | 20.89M | 3.47M | 3.65M | 1.36M | 1.12M | 1.13M | 1.04M |
| Current Ratio | 1.15x | 1.12x | 1.11x | 0.47x | 3.15x | 6.29x | 12.71x | 11.51x | 4.95x | 1.79x |
| Quick Ratio | 1.08x | 1.02x | 1.11x | 0.47x | 2.84x | 5.56x | 11.69x | 9.85x | 4.69x | 1.58x |
| Cash Conversion Cycle | -8.05 | - | - | - | 91.2 | 192.08 | 211.12 | 254.74 | 157.82 | 134.9 |
| Total Non-Current Liabilities | 353K | 158.09K | 0 | 1.51M | 2.08M | 0 | 0 | 0 | 0 | 209.01K |
| Long-Term Debt | 162.99K | 158.09K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 190.01K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 209.01K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 1.51M | 2.08M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 8.85M | 6.56M | 2.56M | 22.47M | 20.01M | 15.11M | 5.51M | 4.76M | 8.84M | 18.21M |
| Total Debt | 5.65M | 2.51M | 2.25M | 0 | 2.27M | 2.24M | 2.03M | 1.04M | 1.49M | 2.34M |
| Net Debt | 5.23M | 2.25M | 1.91M | -2.05M | -17.47M | -34.32M | -31.62M | -13.76M | -7.39M | -1.93M |
| Debt / Equity | 0.20x | 0.09x | 0.44x | - | 0.03x | 0.02x | 0.03x | 0.02x | 0.03x | 0.10x |
| Debt / EBITDA | -2.25x | - | - | - | - | 0.93x | 0.13x | 0.05x | 0.07x | 0.14x |
| Net Debt / EBITDA | -2.09x | - | - | - | - | -14.26x | -1.97x | -0.61x | -0.36x | -0.11x |
| Interest Coverage | -8.61x | -8.78x | -62.86x | -62.92x | -553.25x | 13.65x | 156.99x | 261.44x | 151.86x | 34.85x |
| Total Equity | 28.44M | 29M | 5.17M | 13.87M | 77.41M | 97.64M | 79.59M | 60.92M | 44.55M | 23.31M |
| Equity Growth % | 574.1% | 461.15% | -62.74% | -82.08% | -20.71% | 22.68% | 30.66% | 36.73% | 91.1% | - |
| Book Value per Share | 40.38 | 41.18 | 131.08 | 293.24 | 4591.61 | 8957.53 | 8011.13 | 5851.65 | 4226.91 | 2211.87 |
| Total Shareholders' Equity | 23.6M | 24.26M | 5.58M | 14.76M | 78.13M | 94.75M | 79.59M | 60.92M | 44.55M | 23.31M |
| Common Stock | 673.3K | 673.3K | 73.3K | 83.3K | 39.55K | 15.24K | 12.5K | 11.5K | 11.5K | 11.5K |
| Retained Earnings | -70.94M | -70.26M | -61.96M | -59.45M | 12.29M | 61.48M | 66.62M | 53.94M | 35.27M | 17.78M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 2.53M | 2.53M | 2.55M | 7.22M | 11.93M | 6.71M | -2.09M | 1.27M | 4.2M | 1.02M |
| Minority Interest | 4.84M | 4.75M | -412.18K | -886.01K | -710.75K | 2.89M | 0 | 0 | 0 | 0 |
Existential Going Concern Risk
According to historical financial filings, PAVS has seen its total assets decline from a peak of $112.7 million in 2020Q4 to $37.3 million by 2025Q2, signaling a significant contraction in the company's resource base as it pivots away from its legacy nutraceutical operations.
The persistent decline in total assets suggests that the company is liquidating or writing down legacy holdings without successfully replacing them with productive new capital. This trajectory indicates a business in retreat, where the shrinking asset base may no longer support the overhead required for its stated entertainment technology ambitions.
As reported in recent financial statements, the company's cash position has plummeted from $45.7 million in 2021Q2 to a precarious $412,000 as of 2025Q2, leaving the firm with an extremely thin buffer to cover ongoing operating expenses or meet short-term debt obligations.
The rapid depletion of cash reserves suggests that the company is burning through its remaining liquidity to fund operating losses rather than strategic growth. Investors should monitor this trend closely, as the current cash runway appears insufficient to sustain operations without immediate and likely dilutive external financing.
Based on reported figures, accumulated deficits have ballooned to $70.9 million as of 2025Q2, which has directly contributed to a sharp decline in total equity from $94.7 million in 2020Q4 to $23.6 million, reflecting significant value destruction over the past several fiscal years.
The consistent growth in retained losses indicates that the company's business model has failed to generate sustainable returns on invested capital. This erosion of equity suggests that the company is effectively consuming its own capital base, which may necessitate further dilution if the firm intends to continue as a going concern.
As evidenced by the balance sheet, the company carries $17.5 million in goodwill as of 2025Q2, a figure that appears disproportionately high relative to the firm's negligible revenue and suggests a significant risk of future impairment charges that could further weaken the balance sheet.
The presence of substantial goodwill on the books of a company with a collapsed revenue base warrants deep skepticism regarding the carrying value of these intangible assets. It is possible that these figures represent legacy acquisitions that no longer hold economic value, potentially masking the true extent of the company's financial distress.
Quick answers to the most common questions about buying PAVS stock.
As of 2024, Paranovus Entertainment Technology Ltd. (PAVS) had total assets of $35.6M including $7.2M in current assets.
Paranovus Entertainment Technology Ltd. (PAVS) carries total debt of $2.5M, offset by $5.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Paranovus Entertainment Technology Ltd. (PAVS) has total shareholders' equity (book value) of $24.3M ($41.18 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Paranovus Entertainment Technology Ltd. (PAVS) reported a current ratio of 1.12x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.