The balance sheet is dominated by a $300.15 million trust account, yet liquidity remains constrained with a current ratio of 0.46 as of 2026Q1.
| Total Current Assets | 405.16K | 732.02K | 18.82M | 32.98M | 19.88M | 19.86M | 19.77M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - |
| Cash Only | - | - | - | - | - | - | - |
| Short-Term Investments | - | - | - | - | - | - | - |
| Accounts Receivable | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - |
| Inventory | - | - | - | - | - | - | - |
| Days Inventory Outstanding | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 10.7M | 19.73M | 6.78M | 4.2M | 3.54M |
| Total Non-Current Assets | 311.36M | 308.66M | 843.63M | 725.98M | 722.44M | 707.3M | 683.81M |
| Property, Plant & Equipment | 0 | 0 | 156.92M | 161.43M | 156.12M | 138.32M | 114.03M |
| Fixed Asset Turnover | 0.00x | - | 3.27x | 3.13x | 3.02x | 3.27x | 1.89x |
| Goodwill | 0 | 0 | 192.74M | 321.53M | 320.64M | 320.02M | 318.27M |
| Intangible Assets | 0 | 0 | 10.83M | 18.51M | 21.5M | 24.78M | 28.37M |
| Long-Term Investments | 302.23M | 308.66M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | - | - | - | - | - | - | - |
| Total Assets | 311.76M | 309.39M | 862.46M | 758.96M | 742.32M | 727.16M | 703.57M |
| Asset Turnover | 0.00x | - | 0.59x | 0.67x | 0.64x | 0.62x | 0.31x |
| Asset Growth % | -37.47% | - | 13.64% | 2.24% | 2.09% | 3.35% | - |
| Total Current Liabilities | 885.4K | 733.35K | 72.3M | 55.7M | 55.43M | 54.67M | 51.45M |
| Accounts Payable | 167.81K | 169.69K | 19.65M | 19.88M | 18.76M | 16.43M | 16.83M |
| Days Payables Outstanding | - | - | - | - | - | - | - |
| Short-Term Debt | 72.25K | 322.05K | 17.85M | 1.03M | 1.42M | 1.59M | 1.73M |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - |
| Other Current Liabilities | 0 | 0 | -34.71M | -34.69M | -33.32M | -54.62M | -46.63M |
| Current Ratio | 0.46x | 1.00x | 0.26x | 0.59x | 0.36x | 0.36x | 0.38x |
| Quick Ratio | 0.46x | 1.00x | 0.26x | 0.59x | 0.36x | 0.36x | 0.38x |
| Cash Conversion Cycle | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 11.71M | 11.71M | 343.47M | 102.32M | 100M | 121.41M | 115.77M |
| Long-Term Debt | 0 | 0 | 257.36M | 178.66M | 170.64M | 173.74M | 167.97M |
| Capital Lease Obligations | 0 | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - |
| Total Liabilities | 12.59M | 12.44M | 560.35M | 336.68M | 326.07M | 349.82M | 335.19M |
| Total Debt | 72.25K | 322.05K | 275.21M | 179.7M | 172.05M | 175.33M | 169.69M |
| Net Debt | -136.77K | -256.64K | 273.79M | 172.54M | 165.5M | 166.54M | 159.5M |
| Debt / Equity | 0.00x | 0.00x | 0.91x | 0.43x | 0.41x | 0.46x | 0.46x |
| Debt / EBITDA | -0.00x | - | - | 3.02x | 2.68x | 2.65x | 5.56x |
| Net Debt / EBITDA | 0.00x | - | - | 2.90x | 2.58x | 2.52x | 5.23x |
| Interest Coverage | -37.27x | - | -14.80x | 3.75x | 5.73x | 6.84x | - |
| Total Equity | 299.17M | 296.95M | 302.11M | 422.27M | 416.25M | 377.33M | 368.38M |
| Equity Growth % | -104.86% | - | -28.46% | 1.45% | 10.31% | 2.43% | - |
| Book Value per Share | 9.97 | 40.89 | 8.16 | 10.72 | 10.45 | 9.75 | 9.53 |
| Total Shareholders' Equity | 299.17M | 296.95M | 302.11M | 422.27M | 416.25M | 377.33M | 368.38M |
| Common Stock | 311.36M | 308.66M | 4K | 4K | 4K | 4K | 4K |
| Retained Earnings | -12.19M | -11.71M | -31.22M | 85.15M | 66.9M | 17.03M | -3.89M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | -52K | 180K | 14K | 172K | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidation deadline execution risk
As reported in financial statements, TACOW's balance sheet remains dominated by the $300.15 million trust account, with total assets of $311.8 million in 2026Q1 reflecting a static, non-operational state that is entirely dependent on the successful identification and acquisition of a target company before the liquidation deadline.
The trajectory of the balance sheet is essentially flat, as the company lacks any underlying commercial operations to drive asset growth or equity accumulation. Investors should interpret the current asset base as a temporary holding vehicle rather than a reflection of business quality or long-term value creation.
Based on 2026Q1 data, the company's current ratio of 0.46 indicates a constrained liquidity position, as the limited cash balance of $209.0K must cover ongoing administrative and professional expenses while the sponsor continues the search for a suitable business combination target within the specified timeframe.
The low current ratio suggests that the company may face pressure to secure additional funding or finalize a merger to avoid liquidity shortfalls. This reliance on external capital or interest income to sustain operations warrants close monitoring, as any delay in the deal-making process could exacerbate the existing cash burn.
According to recent SEC filings, the company's equity of $299.2 million is heavily influenced by the redeemable nature of the trust, which creates a complex capital structure that may be subject to significant dilution upon the potential conversion of warrants into ordinary shares post-merger.
The negative retained earnings of $12.2 million reflect the accumulation of administrative costs without offsetting operational revenue. This structure implies that the equity value is highly sensitive to the terms of the eventual business combination and the potential for shareholder redemptions.
As indicated by the company's financial disclosures, the classification of warrant liabilities represents a non-obvious risk, as these instruments are marked-to-market and can introduce significant volatility to the balance sheet that does not necessarily correlate with the underlying progress of the merger search.
The tiered strike price of $10.50 to $11.50 adds a layer of complexity that may distort the perceived value of the equity for retail investors. Analysts should be wary of treating these liabilities as static, as they represent a contingent claim on future equity that could significantly alter the company's capital structure upon exercise.
Quick answers to the most common questions about buying TACOW stock.
As of 2025, Berto Acquisition Corp. Warrant (TACOW) had total assets of $309.4M including $0.7M in current assets.
Berto Acquisition Corp. Warrant (TACOW) carries total debt of $0.3M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Berto Acquisition Corp. Warrant (TACOW) has total shareholders' equity (book value) of $297.0M ($40.89 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Berto Acquisition Corp. Warrant (TACOW) reported a current ratio of 1.00x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.