The company's financial position appears increasingly vulnerable, evidenced by an equity base that has deteriorated to $1.1M as of 2026Q3 alongside a tight current ratio of 1.19.
| Total Current Assets | 13.25M | 12.77M | 11.92M | 8.68M | 6.71M | 9.2M | 3.51M |
| Cash & Short-Term Investments | 1.57M | 6.16M | 7.91M | 4.71M | 2.13M | 6.08M | 1.25M |
| Cash Only | 1.57M | 6.16M | 7.91M | 4.71M | 1.57M | 6.08M | 1.04M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 550K | 0 | 210K |
| Accounts Receivable | 5.13M | 1.5M | 1.03M | 1.37M | 617K | 524K | 250K |
| Days Sales Outstanding | 48.94 | 25.45 | 15.46 | 21.34 | 13.69 | 19.64 | 8.63 |
| Inventory | 4.59M | 1.57M | 2.23M | 2.26M | 1.87M | 2.41M | 1.92M |
| Days Inventory Outstanding | 129.59 | 51.66 | 53.51 | 56.23 | 59.36 | 129.32 | 100.81 |
| Other Current Assets | 1.97M | 1.93M | 306K | 0 | 424K | 0 | 89K |
| Total Non-Current Assets | 546K | 563K | 692K | 1.14M | 1.31M | 817K | 103K |
| Property, Plant & Equipment | 439K | 527K | 645K | 1.13M | 1.29M | 794K | 86K |
| Fixed Asset Turnover | 48.99x | 40.80x | 37.90x | 20.74x | 12.71x | 12.26x | 122.99x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 12K | 14K | 16K | 7K |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 107K | 36K | 47K | 0 | 0 | 7K | 10K |
| Total Assets | 13.8M | 13.34M | 12.61M | 9.82M | 8.01M | 10.01M | 3.61M |
| Asset Turnover | 1.82x | 1.61x | 1.94x | 2.39x | 2.05x | 0.97x | 2.93x |
| Asset Growth % | 12.22% | 5.77% | 28.39% | 22.56% | -19.97% | 177.21% | - |
| Total Current Liabilities | 11.13M | 11.48M | 4.8M | 13.95M | 11.35M | 7.64M | 5.24M |
| Accounts Payable | 0 | 2.59M | 1.58M | 1.29M | 2.17M | 835K | 564K |
| Days Payables Outstanding | 83.12 | 85.51 | 38.01 | 32.05 | 69.04 | 44.88 | 29.61 |
| Short-Term Debt | 16K | 4.35M | 0 | 10.8M | 7.04M | 5.9M | 4.24M |
| Deferred Revenue (Current) | 2.64M | 264K | 420K | 180K | 0 | 26K | 0 |
| Other Current Liabilities | 10.74M | 1.01M | 298K | 366K | 986K | 260K | 75K |
| Current Ratio | 1.19x | 1.11x | 2.48x | 0.62x | 0.59x | 1.20x | 0.67x |
| Quick Ratio | 0.78x | 0.98x | 2.02x | 0.46x | 0.43x | 0.89x | 0.30x |
| Cash Conversion Cycle | 95.41 | -8.41 | 30.96 | 45.52 | 4.01 | 104.08 | 79.82 |
| Total Non-Current Liabilities | 1.6M | 0 | 44K | 8K | 37K | 20K | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 8K | 0 | 44K | 8K | 37K | 20K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.6M | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 12.74M | 11.48M | 4.85M | 13.96M | 11.39M | 7.66M | 5.24M |
| Total Debt | 16K | 4.39M | 145K | 11.1M | 7.14M | 6M | 4.24M |
| Net Debt | -1.55M | -1.77M | -7.76M | 6.39M | 5.57M | -74K | 3.2M |
| Debt / Equity | 0.02x | 2.37x | 0.02x | - | - | 2.55x | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.16x | - | - | - | - | - | - |
| Interest Coverage | -5.75x | -6.74x | -5.85x | -4.69x | -7.31x | - | - |
| Total Equity | 1.06M | 1.86M | 7.76M | -4.14M | -3.38M | 2.35M | -1.63M |
| Equity Growth % | -202.07% | -76.09% | 287.47% | -22.7% | -243.31% | 244.74% | - |
| Book Value per Share | 0.03 | 0.12 | 1.19 | -0.27 | -0.22 | 0.15 | -0.10 |
| Total Shareholders' Equity | 1.06M | 1.86M | 7.76M | -4.14M | -3.38M | 2.35M | -1.63M |
| Common Stock | 3K | 2K | 1K | 0 | 0 | 0 | 0 |
| Retained Earnings | -70.48M | -64.92M | -48.98M | -40.26M | -29.95M | -17.12M | -10.98M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -68K | -23K | -85K | 203K | -100K | -389K | 3K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and solvency pressure
As reported in recent financial statements, PMNT's equity position has deteriorated significantly, falling from a peak of $7.8M in 2024Q4 to a mere $1.1M by 2026Q3, reflecting the persistent erosion of shareholder value driven by continuous net losses and an inability to achieve operational scale.
The consistent decline in retained earnings, which reached -$70.5M in 2026Q3, suggests that the company is rapidly consuming its capital base to fund ongoing operations. Investors should monitor whether this trajectory necessitates further dilutive equity raises, as the current balance sheet provides a diminishing buffer against continued operating losses.
Based on the most recent 2026Q3 filings, PMNT maintains a current ratio of 1.19, which, while technically above parity, masks a precarious cash position of only $1.6M that appears insufficient to support the company's high fixed-cost structure during off-peak seasonal periods.
The volatility in cash balances, which swung from $7.9M in 2024Q4 to $393K in 2026Q2, indicates that the company lacks a stable liquidity cushion. This reliance on seasonal cash inflows to bridge operational gaps suggests that any disruption in sales cycles could lead to immediate liquidity constraints.
According to historical balance sheet data, PMNT's debt-to-equity ratio has exhibited extreme volatility, spiking to 7.38 in 2025Q3 before moderating to 0.02 in 2026Q3, which suggests that debt is utilized as a stop-gap measure rather than a strategic component of the capital structure.
The erratic nature of these leverage metrics implies that the company may struggle to access consistent, long-term credit facilities. The reliance on short-term financing to manage working capital needs warrants further investigation into the company's ability to refinance obligations if market conditions tighten.
As indicated by the company's reported figures, the absence of deferred revenue in several quarters, followed by a $380K balance in 2026Q3, suggests that the business model is highly sensitive to the timing of wholesale shipments and lacks the recurring revenue stability of a subscription-based model.
The lack of consistent deferred revenue, combined with the significant swings in total liabilities, suggests that the balance sheet is highly susceptible to inventory-related risks and potential returns. Investors should be wary that headline asset values may be overstated if aged inventory requires significant future write-downs.
Quick answers to the most common questions about buying PMNT stock.
As of 2025, Perfect Moment Ltd. Common Stock (PMNT) had total assets of $13.3M including $12.8M in current assets.
Perfect Moment Ltd. Common Stock (PMNT) carries total debt of $4.4M, offset by $6.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Perfect Moment Ltd. Common Stock (PMNT) has total shareholders' equity (book value) of $1.9M ($0.12 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Perfect Moment Ltd. Common Stock (PMNT) reported a current ratio of 1.11x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.