The company maintains a defensive posture with a low 0.15 debt-to-equity ratio, though this is overshadowed by a negative retained earnings balance of -$2.5 million.
| Total Current Assets | 9.92M | 10.73M | 6.05M | 2.21M |
| Cash & Short-Term Investments | 3.81M | 3.37M | 698.11K | 348.69K |
| Cash Only | 3.81M | 3.37M | 698.11K | 348.69K |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 5.86M | 7.33M | 5.27M | 1.85M |
| Days Sales Outstanding | 273.93 | 303.79 | 144.16 | 93.52 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 |
| Total Non-Current Assets | 643.3K | 800.37K | 714.11K | 567.91K |
| Property, Plant & Equipment | 483.43K | 394.23K | 303.03K | 402.1K |
| Fixed Asset Turnover | 16.15x | 22.35x | 44.06x | 17.95x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 89.89K | 0 | 0 | 0 |
| Other Non-Current Assets | 69.98K | 406.14K | 411.07K | 165.81K |
| Total Assets | 10.56M | 11.53M | 6.76M | 2.78M |
| Asset Turnover | 0.74x | 0.76x | 1.97x | 2.59x |
| Asset Growth % | -8.4% | 70.53% | 143.18% | - |
| Total Current Liabilities | 2.94M | 4M | 3.36M | 2.75M |
| Accounts Payable | 833.1K | 1.67M | 1.35M | 1.03M |
| Days Payables Outstanding | 45.11 | 77.07 | 56.75 | 72.64 |
| Short-Term Debt | 217.68K | 256.73K | 429.6K | 353.97K |
| Deferred Revenue (Current) | 18.15K | 0 | 0 | 136.46K |
| Other Current Liabilities | 0 | 0 | 0 | 0 |
| Current Ratio | 3.37x | 2.68x | 1.80x | 0.80x |
| Quick Ratio | 3.37x | 2.68x | 1.80x | 0.80x |
| Cash Conversion Cycle | - | - | - | - |
| Total Non-Current Liabilities | 718.11K | 1.15M | 1.53M | 550.41K |
| Long-Term Debt | 359.07K | 579.07K | 836.66K | 302.14K |
| Capital Lease Obligations | 107.57K | 177.4K | 115.39K | 244.58K |
| Deferred Tax Liabilities | 251.47K | 391.84K | 578.38K | 3.69K |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 |
| Total Liabilities | 3.66M | 5.15M | 4.89M | 3.3M |
| Total Debt | 1.06M | 1.23M | 1.58M | 1.07M |
| Net Debt | -2.75M | -2.14M | 882.89K | 717.33K |
| Debt / Equity | 0.15x | 0.19x | 0.85x | - |
| Debt / EBITDA | - | - | 0.51x | 1.18x |
| Net Debt / EBITDA | - | - | 0.28x | 0.79x |
| Interest Coverage | -24.88x | -10.02x | 37.74x | 17.97x |
| Total Equity | 6.91M | 6.38M | 1.87M | -522.38K |
| Equity Growth % | 8.22% | 241.63% | 457.55% | - |
| Book Value per Share | 0.60 | 2.37 | 0.69 | -0.19 |
| Total Shareholders' Equity | 6.91M | 6.38M | 1.87M | -522.38K |
| Common Stock | 3.12K | 2.9K | 2.7K | 2.02K |
| Retained Earnings | -2.52M | -163.35K | 867.78K | -1.52M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 17.22K | 250.66K | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 |
Persistent operating cash burn
As reported in recent financial statements, SPHL's total assets have fluctuated from $6.8 million in 2023Q4 to $10.6 million in 2025Q4, yet this expansion masks a deteriorating equity position driven by cumulative losses that have pushed retained earnings to a negative $2.5 million balance.
The increase in total assets appears largely driven by cash accumulation rather than productive capital investment, suggesting management is prioritizing liquidity preservation over growth. This trajectory indicates that the firm is struggling to convert its asset base into profitable operations, leaving the balance sheet structurally weakened despite the nominal growth in asset size.
Based on the latest quarterly data, SPHL maintains a lean capital structure with a debt-to-equity ratio of 0.15, reflecting a defensive posture that limits interest rate sensitivity despite the company's ongoing inability to generate consistent operating income from its core construction activities.
The low leverage ratio suggests that the company is not currently reliant on external debt to fund its operations, which provides a necessary buffer against its negative operating margins. However, investors should monitor whether this lack of debt is a strategic choice or a reflection of limited access to credit markets given the firm's recent financial performance.
According to the most recent balance sheet, SPHL holds $3.8 million in cash, which provides a current ratio of 3.37, suggesting a temporary liquidity cushion that may allow the company to sustain its current operating losses for several more quarters without immediate insolvency risk.
While the high current ratio appears favorable, it is heavily influenced by the cash balance rather than a healthy cycle of working capital conversion. The reliance on this cash buffer to offset persistent operating losses warrants further investigation into how long this runway can realistically last if revenue trends do not improve.
As indicated by the provided financial data, the company's equity base has been significantly eroded by negative retained earnings, which reached -$2.5 million in 2025Q4, suggesting that the book value of the firm is increasingly disconnected from its actual ability to generate future economic value.
The erosion of equity highlights a fundamental risk where the company's past losses are directly impairing its net worth, potentially limiting its future capacity to absorb further operational shocks. This trend suggests that the balance sheet's apparent health is largely a function of past capital injections rather than successful internal value creation.
Quick answers to the most common questions about buying SPHL stock.
As of 2025, Springview Holdings Ltd Class A Ordinary Shares (SPHL) had total assets of $10.6M including $9.9M in current assets.
Springview Holdings Ltd Class A Ordinary Shares (SPHL) carries total debt of $1.1M, offset by $3.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Springview Holdings Ltd Class A Ordinary Shares (SPHL) has total shareholders' equity (book value) of $6.9M ($0.60 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Springview Holdings Ltd Class A Ordinary Shares (SPHL) reported a current ratio of 3.37x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.