The firm's financial position has deteriorated significantly, with total assets shrinking from $12.6 million in 2024Q4 to $1.6 million in 2025Q4, while retained earnings have fallen into a $617.6K deficit.
| Total Current Assets | 1.11M | 12.54M | 10.99M | 9.64M |
| Cash & Short-Term Investments | 139.58K | 4.79M | 1.14M | 92.04K |
| Cash Only | 139.58K | 4.79M | 1.14M | 92.04K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 867.52K | 7.73M | 8.04M | 9.32M |
| Days Sales Outstanding | 34.45 | 28.76 | 28.74 | 45.49 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 101.34K | 0 | 0 | 0 |
| Total Non-Current Assets | 459.75K | 36.92K | 50K | 0 |
| Property, Plant & Equipment | 94 | 36.92K | 0 | 0 |
| Fixed Asset Turnover | 97588.17x | 2657.79x | - | - |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 459.65K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 50K | 0 |
| Total Assets | 1.57M | 12.58M | 11.04M | 9.64M |
| Asset Turnover | 5.86x | 7.80x | 9.25x | 7.76x |
| Asset Growth % | -87.53% | 13.95% | 14.51% | - |
| Total Current Liabilities | 425.73K | 11.96M | 9.69M | 9.22M |
| Accounts Payable | 410.01K | 1.47M | 9.27M | 9.22M |
| Days Payables Outstanding | 16.49 | 43.65 | 33.76 | 45.64 |
| Short-Term Debt | 94 | 4.66K | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 15.63K | 10.28M | 0 | 0 |
| Current Ratio | 2.60x | 1.05x | 1.13x | 1.04x |
| Quick Ratio | 2.60x | 1.05x | 1.13x | 1.04x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 0 | 733 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 733 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 425.73K | 11.96M | 9.69M | 9.22M |
| Total Debt | 94 | 41.58K | 0 | 0 |
| Net Debt | -139.49K | -4.75M | -1.14M | -92.04K |
| Debt / Equity | 0.00x | 0.07x | - | - |
| Debt / EBITDA | - | - | - | - |
| Net Debt / EBITDA | - | - | -1.05x | -0.25x |
| Interest Coverage | - | - | - | - |
| Total Equity | 1.14M | 614.14K | 1.35M | 413.91K |
| Equity Growth % | 86.06% | -54.51% | 226.16% | - |
| Book Value per Share | 2.71 | 4.37 | 9.60 | 2.65 |
| Total Shareholders' Equity | 1.14M | 614.14K | 1.35M | 413.91K |
| Common Stock | 2.26M | 4.24M | 0 | 0 |
| Retained Earnings | -617.58K | -3.63M | 1.35M | 413.91K |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | -497.7K | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Insufficient Liquidity and Margins
As reported in recent financial statements, PTLE's total assets have plummeted from $12.6 million in 2024Q4 to $1.6 million by 2025Q4, reflecting a significant reduction in the scale of operations and a potential retreat from the company's initial market footprint in the Asia Pacific bunkering sector.
The rapid decline in total assets suggests that the company is either shedding working capital-intensive trade credit arrangements or experiencing a fundamental loss of business volume. This trajectory indicates a business model that is struggling to maintain its relevance, as the asset base has effectively reset to levels seen at the company's inception.
Based on the company's reported figures, retained earnings have deteriorated into a deficit of $617.6K as of 2025Q4, indicating that cumulative operating losses are actively consuming the capital base and leaving little room for error in the firm's highly competitive, low-margin bunkering environment.
The shift from positive retained earnings in 2023Q4 to a significant deficit highlights the persistent inability of the firm to achieve operational profitability. Investors should monitor whether this equity erosion necessitates future dilutive financing, as the current capital structure appears increasingly fragile under the weight of ongoing losses.
According to the latest balance sheet data, PTLE holds only $139.6K in cash as of 2025Q4, a sharp decline from the $4.8 million reported in 2024Q4, which leaves the company with a minimal buffer to manage the inherent volatility of fuel procurement and counterparty credit risks.
While the current ratio of 2.60 might appear superficially healthy, the absolute cash position is alarmingly low for a firm operating in the capital-intensive energy trading space. This limited liquidity suggests that any unexpected disruption in customer payments could immediately threaten the company's ability to meet its short-term obligations.
As indicated by the provided financial data, the company's reliance on trade credit as a primary business driver creates a significant, non-obvious risk, as the lack of disclosed bad debt reserves may be masking the true credit quality of the firm's remaining shipping customer base.
The absence of debt on the balance sheet is less a sign of strength and more a reflection of the company's inability to leverage its assets to fund growth. The primary risk remains that the firm's assets are tied up in receivables that may be increasingly difficult to collect, potentially leading to further write-downs that are not yet reflected in the equity value.
Quick answers to the most common questions about buying PTLE stock.
As of 2025, PTL Limited (PTLE) had total assets of $1.6M including $1.1M in current assets.
PTL Limited (PTLE) carries total debt of $0.0M, offset by $0.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PTL Limited (PTLE) has total shareholders' equity (book value) of $1.1M ($2.71 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PTL Limited (PTLE) reported a current ratio of 2.60x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.