The company's profitability is severely constrained by a 1.3% gross margin and a 2025Q4 operating loss of $284.2K, indicating that fixed costs are outpacing revenue generation.
| Sales/Revenue | 9.19M | 98.13M | 102.11M | 74.82M |
| Revenue Growth % | -90.64% | -3.89% | 36.47% | - |
| Cost of Goods Sold | 9.07M | 12.27M | 100.19M | 73.7M |
| COGS % of Revenue | 98.73% | 12.5% | 98.12% | 98.51% |
| Gross Profit | 116.47K | 308.59K | 1.92M | 1.11M |
| Gross Margin % | 1.27% | 0.31% | 1.88% | 1.49% |
| Gross Profit Growth % | -62.26% | -83.89% | 72.1% | - |
| Operating Expenses | 173.32K | 917.95K | 828.32K | 746.17K |
| OpEx % of Revenue | 1.89% | 0.94% | 0.81% | 1% |
| Selling, General & Admin | 173.32K | 917.95K | 828.32K | 746.17K |
| SG&A % of Revenue | 1.89% | 0.94% | 0.81% | 1% |
| Research & Development | 0 | 0 | 0 | 0 |
| R&D % of Revenue | - | - | - | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 |
| Operating Income | -56.85K | -609.36K | 1.09M | 367.15K |
| Operating Margin % | -0.62% | -0.62% | 1.07% | 0.49% |
| Operating Income Growth % | 90.67% | -156.02% | 196.24% | - |
| EBITDA | -52.21K | -608.69K | 1.09M | 367.15K |
| EBITDA Margin % | -0.57% | -0.62% | 1.07% | 0.49% |
| EBITDA Growth % | 91.42% | -155.96% | 196.24% | - |
| D&A (Non-Cash Add-back) | 4.64K | 0 | 0 | 0 |
| EBIT | -56.85K | -608.69K | 1.09M | 367.15K |
| Net Interest Income | 0 | 1.11K | 1.2K | 126 |
| Interest Income | 0 | 1.11K | 1.2K | 126 |
| Interest Expense | 0 | 0 | 0 | 0 |
| Other Income/Expense | -94.54K | 5.21K | 7.81K | 30.52K |
| Pretax Income | -151.39K | -4.75M | 1.1M | 397.67K |
| Pretax Margin % | -1.65% | -4.84% | 1.07% | 0.53% |
| Income Tax | 0 | 29.11K | 159.34K | 6.56K |
| Effective Tax Rate % | 0% | -0.61% | 14.55% | 1.65% |
| Net Income | -151.39K | -637.8K | 936.12K | 391.11K |
| Net Margin % | -1.65% | -0.65% | 0.92% | 0.52% |
| Net Income Growth % | 76.26% | -168.13% | 139.35% | - |
| Net Income (Continuing) | -151.39K | -637.8K | 936.12K | 391.11K |
| Discontinued Operations | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.36 | -4.49 | 6.66 | 2.50 |
| EPS Growth % | 91.98% | -167.43% | 165.81% | - |
| EPS (Basic) | -0.36 | -4.49 | 6.66 | 2.50 |
| Diluted Shares Outstanding | 421.25K | 140.58K | 140.58K | 156.25K |
| Basic Shares Outstanding | 421.25K | 140.58K | 140.58K | 156.25K |
| Dividend Payout Ratio | - | - | - | - |
Insufficient Liquidity and Margins
As reported in recent financial filings, PTLE experienced a significant revenue decline, with quarterly figures falling to $3.6 million in 2025Q4 from $7.4 million in 2023Q4, suggesting either a loss of key volume or a fundamental transition in how the company recognizes its transactional bunkering revenue.
The consistent quarter-over-quarter revenue decay indicates that the firm's current business model lacks the scale necessary to maintain its initial market position. Investors should monitor whether this downward trajectory reflects a strategic pivot toward an agency-based revenue model or a genuine loss of competitive standing in the Asia Pacific bunkering market.
Based on the company's reported figures, PTLE maintains a structural gross margin of approximately 1.3%, which highlights the firm's role as a low-value-add intermediary that lacks the pricing power required to absorb even minor fluctuations in fuel procurement costs or regional maritime demand.
This minimal margin profile leaves virtually no room for operational error, as evidenced by the company's inability to consistently cover its overhead expenses. The lack of margin expansion suggests that the firm is struggling to differentiate its services from larger, more integrated competitors who benefit from superior economies of scale.
According to the income statement data, PTLE's operating income has frequently dipped into negative territory, with a 2025Q4 operating loss of $284.2K, demonstrating that the company's fixed administrative costs are currently scaling faster than its ability to generate gross profit from fuel trading activities.
The inability to achieve positive operating leverage suggests that the current cost structure is misaligned with the firm's diminished revenue base. Without a significant increase in throughput or a reduction in fixed overhead, the company may continue to face challenges in achieving sustainable profitability.
While the company's 0% debt-to-equity ratio appears conservative, the reported $139,581 cash balance warrants investigation, as it may be insufficient to support the working capital requirements necessary to manage counterparty credit risk in a volatile energy market, potentially threatening the firm's ongoing viability.
Short-sellers would likely focus on the disconnect between the company's thin margins and its limited liquidity, which leaves the firm highly exposed to any disruption in customer payments. The reliance on trade credit as a primary service offering creates a binary risk profile where a single major default could severely impair the company's remaining equity.
Quick answers to the most common questions about buying PTLE stock.
For fiscal year 2025, PTL Limited (PTLE) reported total revenue of $9.2M. This represents a 87.7% decline compared to $74.8M in 2022.
PTL Limited (PTLE) reported a net loss of $0.2M for the fiscal year ending 2025.
PTL Limited (PTLE) reported an operating income of $-0.1M, resulting in an operating profit margin of -0.6%. This margin reflects the operational efficiency of the business before interest and taxes.
PTL Limited (PTLE) generated $0.1M in gross profit for the year, representing a gross profit margin of 1.3%. This demonstrates the company's core pricing power and production efficiency.