The company's financial position shows significant erosion, with retained earnings shifting to a $14.3M deficit as of 2025Q1, despite maintaining a low debt-to-equity ratio of 0.04 as of 2024Q4.
| Total Current Assets | 0 | 64.55M | 102.62M | 120.02M | 122.99M | 64.22M |
| Cash & Short-Term Investments | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - |
| Other Current Assets | 0 | 15.33M | 43.08M | 39.31M | 4.57M | 14.29M |
| Total Non-Current Assets | 118.34M | 7.18M | 4.03M | 3.39M | 2.34M | 4.01M |
| Property, Plant & Equipment | 2.66M | 3.05M | 1.09M | 2.25M | 1.21M | 2.85M |
| Fixed Asset Turnover | 4.19x | 3.20x | 20.07x | 8.58x | 35.53x | 8.38x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 599.14K | 600K | 0 | 600K | 600K | 600K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - |
| Total Assets | 118.34M | 71.73M | 106.64M | 123.41M | 125.34M | 68.23M |
| Asset Turnover | 0.12x | 0.14x | 0.21x | 0.16x | 0.34x | 0.35x |
| Asset Growth % | -3.62% | -32.74% | -13.59% | -1.54% | 83.7% | - |
| Total Current Liabilities | 0 | 15.52M | 45.9M | 42.21M | 19.86M | 16.65M |
| Accounts Payable | 0 | 10.35M | 40.86M | 34.79M | 5.3M | 11.53M |
| Days Payables Outstanding | - | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | - | - | - | - | - |
| Other Current Liabilities | -3.81M | 1.33M | 1.28M | 3M | 0 | 0 |
| Current Ratio | - | 4.16x | 2.24x | 2.84x | 6.19x | 3.86x |
| Quick Ratio | - | 4.16x | 2.24x | 2.84x | 6.19x | 3.86x |
| Cash Conversion Cycle | - | - | - | - | - | - |
| Total Non-Current Liabilities | 16.23M | 994K | 0 | 1.12M | 0 | 1.06M |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - |
| Total Liabilities | 16.23M | 16.51M | 45.9M | 43.34M | 19.86M | 17.71M |
| Total Debt | 0 | 2.13M | 1.12M | 2.35M | 1.17M | 2.51M |
| Net Debt | -76.21M | -28.49M | -10.93M | -10.35M | -11.44M | -14.8M |
| Debt / Equity | 0.00x | 0.04x | 0.02x | 0.03x | 0.01x | 0.05x |
| Debt / EBITDA | -0.00x | - | - | - | 0.04x | 0.17x |
| Net Debt / EBITDA | 6.24x | - | - | - | -0.42x | -0.98x |
| Interest Coverage | -48.68x | - | - | - | - | 479.97x |
| Total Equity | 102.11M | 55.22M | 60.74M | 80.08M | 105.47M | 50.52M |
| Equity Growth % | 70.19% | -9.09% | -24.15% | -24.08% | 108.76% | - |
| Book Value per Share | 7.67 | 3.92 | 4.31 | 5.68 | 6.20 | 2.97 |
| Total Shareholders' Equity | 102.11M | 55.22M | 60.74M | 80.08M | 105.47M | 50.52M |
| Common Stock | 7.78K | 9K | 9K | 9K | 9K | 9K |
| Retained Earnings | -14.31M | -7.95M | -2.42M | 3.59M | 28.99M | 7.51M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Capital erosion from operations
As reported in recent financial filings, PLUT's total assets have declined from $125.3M in 2021Q4 to $118.3M in 2025Q1, reflecting a persistent contraction in the firm's balance sheet capacity as operating losses continue to consume the company's underlying equity and financial resources over time.
The consistent decline in total assets suggests that the firm is struggling to maintain its scale in a competitive Hong Kong financial services environment. Investors should monitor whether this downward trajectory in asset volume will eventually trigger a breach of regulatory capital requirements necessary to maintain its SFC licenses.
Based on the company's historical balance sheet data, retained earnings have shifted from a positive $29.0M in 2021Q4 to a deficit of $14.3M by 2025Q1, indicating that the firm's core business model has failed to generate sufficient returns to offset its ongoing operating expenses.
This transition into a retained earnings deficit highlights the erosion of shareholder value caused by persistent operational losses. The lack of profitability suggests that the current equity base is being utilized to fund overhead rather than growth, which may necessitate future capital injections if the trend continues.
According to the provided quarterly balance sheets, PLUT's cash position has fluctuated significantly, reaching $30.6M in 2024Q4 before appearing to deplete entirely by 2025Q1, which signals a high degree of sensitivity to working capital demands and potential liquidity stress within the firm's operations.
The inability to maintain a consistent cash buffer suggests that the firm's liquidity is highly dependent on transactional timing rather than stable cash generation. This volatility warrants further investigation into the firm's cash management practices and its ability to meet short-term obligations during periods of market stress.
While the firm's balance sheet shows $600K in goodwill, the true intangible value likely resides in its SFC licenses, which may be the only factor preventing a total collapse in valuation despite the company's inability to generate positive net income from its core brokerage activities.
The presence of these licenses suggests that the firm may be viewed more as a shell for acquisition than a viable operating business. Investors should be cautious, as the value of these licenses is contingent upon the firm remaining in good standing with regulators despite its deteriorating financial health.
Quick answers to the most common questions about buying PLUT stock.
As of 2024, Plutus Financial Group Limited (PLUT) had total assets of $71.7M including $64.5M in current assets.
Plutus Financial Group Limited (PLUT) carries total debt of $2.1M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Plutus Financial Group Limited (PLUT) has total shareholders' equity (book value) of $55.2M ($3.92 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Plutus Financial Group Limited (PLUT) reported a current ratio of 4.16x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.