The company maintains a precarious financial position with a debt-to-equity ratio of 1.45 and a narrow current ratio of 1.26.
| Total Current Assets | 3.39M | 25.73M | 25.38M |
| Cash & Short-Term Investments | 1.51M | 16.96M | 18.97M |
| Cash Only | 1.48M | 16.96M | 18.97M |
| Short-Term Investments | 26.69K | 0 | 0 |
| Accounts Receivable | 0 | 0 | 0 |
| Days Sales Outstanding | - | - | - |
| Inventory | 775.59K | 5.04M | 5.27M |
| Days Inventory Outstanding | 22.75 | 130.32 | 151.09 |
| Other Current Assets | 990.99K | 0 | 0 |
| Total Non-Current Assets | 1.11M | 10.42M | 18.53M |
| Property, Plant & Equipment | 962.78K | 8.84M | 15.8M |
| Fixed Asset Turnover | 84.52x | 8.48x | 4.32x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | 147.62K | 1.13M | 2.56M |
| Total Assets | 4.5M | 36.15M | 43.92M |
| Asset Turnover | 18.08x | 2.07x | 1.55x |
| Asset Growth % | 0% | -17.69% | - |
| Total Current Liabilities | 2.7M | 22.27M | 28.32M |
| Accounts Payable | 0 | 0 | 0 |
| Days Payables Outstanding | - | - | - |
| Short-Term Debt | 1.36M | 12.27M | 5.9M |
| Deferred Revenue (Current) | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 1.26x | 1.16x | 0.90x |
| Quick Ratio | 0.97x | 0.93x | 0.71x |
| Cash Conversion Cycle | 22.75 | - | - |
| Total Non-Current Liabilities | 380.81K | 2.15M | 5.44M |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 762.33K | 2.15M | 5.44M |
| Deferred Tax Liabilities | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 |
| Total Liabilities | 3.08M | 24.42M | 33.76M |
| Total Debt | 2.06M | 18.65M | 17.94M |
| Net Debt | 577.72K | 1.69M | -1.04M |
| Debt / Equity | 1.45x | 1.59x | 1.77x |
| Debt / EBITDA | 0.97x | 0.97x | 0.88x |
| Net Debt / EBITDA | 0.27x | 0.09x | -0.05x |
| Interest Coverage | 1.50x | 12.66x | 14.82x |
| Total Equity | 1.42M | 11.73M | 10.16M |
| Equity Growth % | 9.27% | 15.44% | - |
| Book Value per Share | 0.07 | 0.56 | 0.51 |
| Total Shareholders' Equity | 1.42M | 11.73M | 10.16M |
| Common Stock | 2.1K | 16.32K | 16.32K |
| Retained Earnings | 1.42M | 11.73M | 10.16M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 |
High Fixed Cost Exposure
According to the latest quarterly filings, Pitanium Limited's total assets have remained stagnant at $4.5 million since 2025Q1, while the company's equity base of $1.4 million suggests a lack of meaningful capital accumulation to support its high-street retail expansion strategy in Hong Kong.
The lack of asset growth over the last two quarters indicates that the company is not reinvesting in its physical footprint or operational capacity. This stagnation, combined with the absence of retained earnings growth, suggests that the business model is currently failing to generate the surplus capital necessary to strengthen its balance sheet.
As reported in financial statements, PTNM maintains a debt-to-equity ratio of 1.45, which, when paired with $2.1 million in total debt, highlights a reliance on external financing that appears increasingly precarious given the company's inability to generate consistent positive operating cash flow from its retail operations.
While the absolute debt level may appear manageable, the high leverage relative to the company's thin equity base leaves little room for error. Investors should monitor whether this debt is being used to fund ongoing operating losses, which would indicate a deteriorating financial position rather than strategic growth.
Based on the most recent quarterly data, PTNM reports a current ratio of 1.26, which provides a narrow liquidity buffer that may prove insufficient if the company faces unexpected shifts in Hong Kong retail foot traffic or sudden increases in its high-street lease obligations.
The current ratio suggests that the company has just enough liquid assets to cover its short-term liabilities, leaving minimal margin for operational shocks. This tight liquidity position is particularly concerning given the company's recent history of negative operating cash flow and its reliance on cash reserves to fund daily operations.
Data from the balance sheet indicates that PTNM's net PPE of $962.8K represents a significant portion of its total assets, which warrants further investigation into the potential for impairment if the company's prime retail locations fail to deliver the expected foot traffic and revenue growth.
The concentration of assets in physical retail infrastructure creates a rigid cost structure that is difficult to unwind during downturns. If the company's proprietary brand strategy does not yield higher productivity, these assets may become a liability, potentially leading to future write-downs that would further erode the company's equity.
Quick answers to the most common questions about buying PTNM stock.
As of 2024, Pitanium Limited (PTNM) had total assets of $36.1M including $25.7M in current assets.
Pitanium Limited (PTNM) carries total debt of $18.7M, offset by $17.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Pitanium Limited (PTNM) has total shareholders' equity (book value) of $11.7M ($0.56 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Pitanium Limited (PTNM) reported a current ratio of 1.16x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.