While the company maintains a debt-to-equity ratio of 0.58, the erosion of retained earnings to a $75.3 million deficit suggests a weakening equity base that warrants close monitoring.
| Total Current Assets | 342.32M | 354.85M | 477.43M | 450.28M | 403.75M |
| Cash & Short-Term Investments | 150.11M | 202.47M | 299.34M | 290.47M | 287.94M |
| Cash Only | 150.11M | 202.47M | 299.34M | 290.47M | 287.94M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 4.71M | 5.52M | 6.41M | 24.66M | 17.52M |
| Days Sales Outstanding | 40.59 | 61.36 | 22.83 | 71.35 | 65.58 |
| Inventory | 38.12M | 47.75M | 36.77M | 27.54M | 18.87M |
| Days Inventory Outstanding | 224.44 | 362.74 | 237.42 | 145.01 | 110.4 |
| Other Current Assets | 145.97M | 92.11M | 124.68M | 101.52M | 77.11M |
| Total Non-Current Assets | 75.75M | 94.07M | 69.62M | 111.03M | 116.93M |
| Property, Plant & Equipment | 57.29M | 55.91M | 61.05M | 80.11M | 87.23M |
| Fixed Asset Turnover | 0.83x | 0.59x | 1.68x | 1.57x | 1.12x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 10.21M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 18.46M | 38.16M | 7.62M | 23.51M | 19.49M |
| Total Assets | 418.07M | 448.92M | 547.06M | 561.3M | 520.68M |
| Asset Turnover | 0.10x | 0.07x | 0.19x | 0.22x | 0.19x |
| Asset Growth % | -17.94% | -17.94% | -2.54% | 7.8% | - |
| Total Current Liabilities | 121.59M | 122.82M | 152.13M | 144.6M | 94.42M |
| Accounts Payable | 346K | 127K | 1.7M | 8.04M | 4.87M |
| Days Payables Outstanding | 3.51 | 0.96 | 10.95 | 42.34 | 28.5 |
| Short-Term Debt | 100.91M | 97.32M | 129.44M | 105.56M | 67.1M |
| Deferred Revenue (Current) | 15.99M | 0 | 15.99M | 17.02M | 0 |
| Other Current Liabilities | 14.78M | 545K | 465K | 544K | 11.71M |
| Current Ratio | 2.82x | 2.89x | 3.14x | 3.11x | 4.28x |
| Quick Ratio | 2.50x | 2.50x | 2.90x | 2.92x | 4.08x |
| Cash Conversion Cycle | 261.52 | 423.13 | 249.3 | 174.02 | 147.48 |
| Total Non-Current Liabilities | 43.89M | 43.23M | 49.02M | 75.74M | 54.46M |
| Long-Term Debt | 36.98M | 43.16M | 47.7M | 52.93M | 23.42M |
| Capital Lease Obligations | 7.84M | 0 | 1.32M | 19.98M | 28.28M |
| Deferred Tax Liabilities | 73K | 73K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 3.65M | 0 | 0 | 2.83M | 2.76M |
| Total Liabilities | 165.48M | 166.05M | 201.16M | 220.34M | 148.88M |
| Total Debt | 146.71M | 148.42M | 183.01M | 191.91M | 129.54M |
| Net Debt | -3.39M | -54.05M | -116.33M | -98.56M | -158.41M |
| Debt / Equity | 0.58x | 0.52x | 0.53x | 0.56x | 0.35x |
| Debt / EBITDA | -2.17x | - | - | 8.01x | - |
| Net Debt / EBITDA | 0.05x | - | - | -4.12x | - |
| Interest Coverage | -84.30x | -25.55x | -6.72x | -5.91x | - |
| Total Equity | 252.59M | 282.87M | 345.9M | 340.96M | 371.8M |
| Equity Growth % | -18.22% | -18.22% | 1.45% | -8.29% | - |
| Book Value per Share | 8.97 | 35.64 | 43.58 | 42.96 | 13.21 |
| Total Shareholders' Equity | 252.59M | 224.51M | 274.54M | 325.77M | 340.44M |
| Common Stock | 281.51M | 68K | 68K | 281.51M | 281.51M |
| Retained Earnings | -75.29M | -46.8M | 3.59M | -661K | 13.76M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 11.08M | 10.72M | -1.44M | -1.19M |
| Minority Interest | 0 | 58.36M | 71.36M | 15.19M | 31.36M |
Rapid cash reserve depletion
According to recent financial statements, Semilux has seen total assets contract from $547.1 million in 2022Q4 to $418.1 million by 2024Q2, reflecting a significant reduction in the company's resource base as it navigates a difficult pivot away from legacy optical components toward unproven AI-driven sensing modules.
The contraction in the asset base appears to be driven by the rapid consumption of cash reserves rather than a strategic divestiture of non-core assets. This trend suggests that the company is currently in a phase of capital liquidation to fund ongoing operational losses, which warrants close monitoring by investors concerned about the long-term sustainability of the business model.
Based on reported figures, the company's cash position has declined from $299.3 million in 2022Q4 to $150.1 million in 2024Q2, representing a substantial reduction in the liquidity buffer available to support the firm's high-cost R&D initiatives and manufacturing overhead during this period of severe revenue contraction.
While the current ratio of 2.82 suggests adequate short-term liquidity, the consistent decline in absolute cash levels indicates that the company is burning through its capital at an unsustainable rate. Investors should consider whether the current cash runway is sufficient to reach commercial scale before the company is forced to seek dilutive financing.
As reported in recent filings, Semilux's retained earnings have shifted from a positive $3.6 million in 2022Q4 to a deficit of $75.3 million by 2024Q2, highlighting the cumulative impact of persistent operating losses on the company's equity base and overall financial health.
The rapid erosion of retained earnings suggests that the company's transition to new technology platforms is not yet generating the necessary returns to offset operational costs. This trend may indicate that the firm's capital allocation strategy is currently value-destroying, necessitating a fundamental reassessment of the company's ability to achieve profitability.
Data from the latest balance sheet reveals that while Semilux maintains a debt-to-equity ratio of 0.58, the headline stability is potentially misleading because the company's primary asset is a rapidly depleting cash pile rather than productive, revenue-generating capital equipment or intellectual property that is currently yielding commercial returns.
The reliance on cash reserves to maintain the balance sheet may provide a false sense of security to investors who overlook the underlying operational losses. The lack of deferred revenue further suggests that the company has no immediate pipeline of committed customer payments, making the current cash position the only significant buffer against total operational failure.
Quick answers to the most common questions about buying SELX stock.
As of 2023, Semilux International Ltd. Ordinary Shares (SELX) had total assets of $448.9M including $354.8M in current assets.
Semilux International Ltd. Ordinary Shares (SELX) carries total debt of $148.4M, offset by $202.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Semilux International Ltd. Ordinary Shares (SELX) has total shareholders' equity (book value) of $224.5M ($35.64 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Semilux International Ltd. Ordinary Shares (SELX) reported a current ratio of 2.89x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.