The company's financial position has deteriorated significantly, with the current ratio falling to a precarious 0.68 in 2026Q1, signaling potential insolvency risks as total assets plummeted to $3.0 million.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 |
|---|
| Total Current Assets | 2.96M | 3.39M | 25.08M | 10.24M | 2.58M | 4.89M | 2.39M | 156.41K | 1.56M | 1.57M | 153.93K | 6.46M | 9.45M | 4.3M | 6.17M | 4.48M |
| Cash & Short-Term Investments | 2.32M | 1.47M | 3.72M | 2.41M | 276.46K | 3.35M | 2.19M | 108.76K | 1.5M | 1.48M | 66.27K | 228.19K | 94.68K | 1.15M | 1.42M | 1.4M |
| Cash Only | 2.32M | 1.47M | 3.72M | 2.41M | 276.46K | 3.35M | 1.91M | 108.76K | 1.5M | 1.48M | 66.27K | 228.19K | 94.68K | 1.15M | 1.42M | 1.4M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 280.42K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 601.94K | 1.74M | 460.15K | 2.58M | 191.02K | 12.38K | 0 | 505 | 13 | 1.61K | 765 | 0 | 5.74M | 1.91M | 3.36M | 2.98M |
| Days Sales Outstanding | -118.72 | - | 5.25 | 58.56 | 162.85 | 51.1 | - | 0.4 | - | 0.59 | 0.27 | - | 99.28 | 74.97 | 203.41 | 567.71 |
| Inventory | 4.91K | 22.87K | 20.31M | 4.69M | 1.97M | 1.45M | 141.37K | 0 | 0 | 0 | 0 | 37.1K | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 235.81 | 252.2 | 389.87 | 152.87 | 2.34K | 6.52K | 14.17K | - | - | - | - | 2.54 | - | - | - | - |
| Other Current Assets | 0 | 60.33K | 0 | 0 | 0 | 0 | 0 | 0 | 11.25K | 18.68K | 86.89K | 6.19M | 3.57M | 0 | 0 | 0 |
| Total Non-Current Assets | 89.83K | 382.61K | 29.62M | 11.25M | 6.32M | 9.21M | 9.95M | 6.99M | 141.31M | 138.99M | 81.27K | 31.85M | 98.95M | 73.54M | 39.25M | 24.56M |
| Property, Plant & Equipment | 63.52K | 98.64K | 28.26M | 10.9M | 6.3M | 4.01M | 3.31M | 6.4K | 1.23K | 10.7K | 28.42K | 31.85M | 94.25M | 72.76M | 38.6M | 20.86M |
| Fixed Asset Turnover | -0.26x | - | 1.13x | 1.47x | 0.07x | 0.02x | - | 72.92x | - | 93.48x | 36.93x | 0.47x | 0.22x | 0.13x | 0.16x | 0.09x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 4.89M | 6.41M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 304.24K | 219.65K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.98M | 0 | 138.98M | 52.85K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 26.31K | 283.97K | 1.36M | 346.62K | 24K | 10K | 10K | 0 | 141.31M | 0 | 0 | 0 | 4.71M | 772.88K | 657.7K | 3.7M |
| Total Assets | 3.05M | 3.78M | 54.7M | 21.49M | 8.9M | 14.1M | 12.34M | 7.15M | 142.87M | 140.56M | 235.2K | 38.31M | 108.4M | 77.83M | 45.43M | 29.03M |
| Asset Turnover | -0.12x | - | 0.58x | 0.75x | 0.05x | 0.01x | - | 0.07x | - | 0.01x | 4.46x | 0.39x | 0.19x | 0.12x | 0.13x | 0.07x |
| Asset Growth % | -259.93% | -93.1% | 154.53% | 141.48% | -36.9% | 14.28% | 72.72% | -95% | 1.64% | 59661.24% | -99.39% | -64.66% | 39.28% | 71.34% | 56.47% | - |
| Total Current Liabilities | 4.35M | 6.19M | 7.36M | 5.77M | 890.18K | 403.06K | 622.79K | 1.45M | 659.35K | 186.68K | 36.56K | 68.31M | 10.35M | 8.6M | 3.29M | 3.13M |
| Accounts Payable | 1.03M | 1.3M | 1.37M | 853.53K | 392.69K | 279.34K | 325.12K | 35.73K | 31.94K | 91.19K | 21.56K | 22.99K | 10.29M | 8.45M | 2.95M | 2.82M |
| Days Payables Outstanding | 31.47 | 14.31K | 26.26 | 27.84 | 464.92 | 1.25K | 32.58K | 14.95K | 1.23K | 3.07K | 5.33 | 1.57 | 1.39K | 1.43K | 803.23 | 1.39K |
| Short-Term Debt | 825.33K | 1.34M | 2.42M | 2.86M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 60.35M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 2.5M | 2.79M | 0 | 0 | 0 | 0 | 0 | 14.22K | 621.72K | 0 | 0 | 7.94M | 0 | 139.06K | 0 | 0 |
| Current Ratio | 0.68x | 0.55x | 3.40x | 1.77x | 2.90x | 12.14x | 3.84x | 0.11x | 2.36x | 8.39x | 4.21x | 0.09x | 0.91x | 0.50x | 1.87x | 1.43x |
| Quick Ratio | 0.68x | 0.54x | 0.65x | 0.96x | 0.68x | 8.53x | 3.61x | 0.11x | 2.36x | 8.39x | 4.21x | 0.09x | 0.91x | 0.50x | 1.87x | 1.43x |
| Cash Conversion Cycle | 85.62 | - | 368.86 | 183.59 | 2.03K | 5.31K | - | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 150K | 150K | 15.34M | 8.44M | 5.2M | 2.88M | 1.66M | 0 | 180.45K | 91.19K | 21.56K | 368.09K | 58.71M | 34.83M | 10.55M | 1.02M |
| Long-Term Debt | 150K | 150K | 150K | 4.77M | 3.9M | 1.53M | 262.93K | 0 | 0 | 0 | 0 | 0 | 51.83M | 30.56M | 5.75M | 0 |
| Capital Lease Obligations | 15.05M | 0 | 15.19M | 3.67M | 1.3M | 1.35M | 1.4M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 6.59M | 4.03M | 4.73M | 1.01M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 368.09K | 286.8K | 235.28K | 67.14K | 3.9K |
| Total Liabilities | 4.5M | 6.34M | 22.71M | 14.21M | 6.09M | 3.28M | 2.29M | 1.45M | 659.35K | 186.68K | 36.56K | 68.68M | 69.06M | 43.42M | 13.84M | 4.15M |
| Total Debt | 975.33K | 1.57M | 20.36M | 11.84M | 5.25M | 2.93M | 1.7M | 0 | 0 | 0 | 0 | 60.35M | 51.83M | 30.56M | 5.75M | 0 |
| Net Debt | -1.34M | 95.15K | 16.64M | 9.43M | 4.97M | -420.27K | -210.07K | -108.76K | -1.5M | -1.48M | -66.27K | 60.12M | 51.74M | 29.41M | 4.33M | -1.4M |
| Debt / Equity | -0.67x | - | 0.64x | 1.63x | 1.87x | 0.27x | 0.17x | - | - | - | - | - | 1.32x | 0.89x | 0.18x | - |
| Debt / EBITDA | -0.18x | - | 45.99x | - | - | - | - | - | - | - | - | - | 2.40x | 6.58x | 5.02x | - |
| Net Debt / EBITDA | 0.25x | - | 37.58x | - | - | - | - | - | - | - | - | - | 2.40x | 6.33x | 3.78x | - |
| Interest Coverage | -26.98x | -41.66x | -1.44x | -0.66x | -8.49x | -1161.94x | -12.78x | - | - | -15.69x | - | -8.46x | 2.31x | 0.54x | 8.23x | -39.83x |
| Total Equity | -1.45M | -2.56M | 31.99M | 7.28M | 2.81M | 10.82M | 10.06M | 5.7M | 142.21M | 140.37M | 198.64K | -30.37M | 39.34M | 34.41M | 31.59M | 24.89M |
| Equity Growth % | -272.97% | -108.01% | 339.37% | 159.01% | -74.02% | 7.61% | 76.45% | -95.99% | 1.31% | 70566.88% | 100.65% | -177.21% | 14.33% | 8.94% | 26.93% | - |
| Book Value per Share | -0.07 | -3.25 | 51.94 | 21.13 | 8.72 | 38.08 | 79.93 | 53.38 | 1332.92 | 41.95 | 0.03 | -4.61 | 5.83 | 5.22 | 4.79 | 4.23 |
| Total Shareholders' Equity | -1.45M | -2.56M | 31.99M | 7.28M | 2.81M | 10.82M | 10.06M | 5.7M | 1.47M | 1.5M | 198.64K | -30.37M | 39.34M | 34.41M | 31.59M | 24.89M |
| Common Stock | 20.12K | 12.22K | 11.3K | 6.03K | 4.85K | 4.81K | 2.74K | 1.6K | 479.85K | 479.8K | 47.98K | 47.98K | 47.98K | 47.98K | 47.98K | 47.4K |
| Retained Earnings | -105.57M | -103.08M | -62.44M | -58.74M | -55.68M | -43.55M | -36.68M | -31.36M | -35.49M | -35.14M | -34.75M | -64.7M | 5.64M | 1.29M | 1.69M | -3.22M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 140.74M | 138.87M | 0 | 0 | 0 | 0 | 0 | 0 |
Capital structure insolvency risk
As reported in recent financial filings, Sow Good's equity position has deteriorated from a peak of $35.0 million in 2024Q2 to a deficit of $1.5 million by 2026Q1, signaling a severe contraction in the company's net worth during its transition to a food-focused manufacturer.
The rapid shift from positive equity to a deficit suggests that persistent operating losses are consuming the company's capital base at an unsustainable rate. Investors should monitor whether this trajectory indicates a fundamental inability to achieve profitability before the remaining asset base is fully exhausted.
Based on the company's reported figures, the current ratio has plummeted from a high of 5.13 in 2024Q2 to a precarious 0.68 in 2026Q1, indicating that current assets are no longer sufficient to cover short-term obligations as the cash runway continues to shrink.
The sharp decline in liquidity metrics suggests that the company may face significant challenges in meeting its near-term financial commitments without external capital injections. This deterioration appears to be a direct consequence of sustained cash burn and the inability to convert inventory into sufficient working capital.
According to the balance sheet data, total assets have declined from $60.2 million in 2024Q2 to just $3.0 million in 2026Q1, reflecting a massive reduction in the company's resource footprint as it pivots away from its legacy operational structure.
The dramatic reduction in total assets warrants further investigation into whether this represents a strategic divestiture or an involuntary liquidation of resources. The current asset mix appears highly constrained, which may limit the company's operational flexibility and ability to scale production in the future.
As indicated by the transition from a $35.0 million equity position to a negative $1.5 million deficit, the company's balance sheet is potentially distorted by the legacy of its former oil and gas activities, which may mask the true cost of its current food manufacturing pivot.
The negative retained earnings of $105.6 million suggest that historical losses from the predecessor entity continue to weigh heavily on the current balance sheet. This structural overhang makes it difficult to assess the true underlying health of the food business, as the legacy liabilities appear to be cannibalizing the company's financial stability.
Quick answers to the most common questions about buying SOWG stock.
As of 2025, Sow Good Inc. (SOWG) had total assets of $3.8M including $3.4M in current assets.
Sow Good Inc. (SOWG) carries total debt of $1.6M, offset by $1.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sow Good Inc. (SOWG) has total shareholders' equity (book value) of $-2.6M ($-3.25 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sow Good Inc. (SOWG) reported a current ratio of 0.55x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.