The company faces persistent liquidity risks with a 0.75 current ratio and a significant debt burden of $3.4B, which continues to limit strategic financial flexibility.
Generation Essentials Group (TGE) balance sheet — 8-year assets, liabilities & shareholders' equity history
| Metric | TTM | Dec'24 | Dec'23 | Dec'22 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 |
|---|
| Total Current Assets | 395.25M | 85.02M | 31.8M | 212.7M | 395.25M | 291.82M | 157.32M | 95.28M | 77.85M |
| Cash & Short-Term Investments | 9.39M | 45.19M | 23.68M | 22.43M | 9.39M | 9.6M | 2.59M | 2.46M | 2.23M |
| Cash Only | 9.39M | 19.98M | 6.12M | 1.21M | 9.39M | 9.6M | 2.59M | 2.46M | 2.23M |
| Short-Term Investments | 0 | 25.21M | 17.56M | 21.22M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 324.28M | 7.58M | 7.13M | 4.52M | 324.28M | 236.1M | 119.95M | 61.13M | 58.97M |
| Days Sales Outstanding | 108.58 | 54.58 | 32.39 | 90.47 | 136.28 | 108.63 | 66.75 | 36.48 | 39.66 |
| Inventory | 49.08M | 0 | 0 | 0 | 49.08M | 34.32M | 21.61M | 13.09M | 13.79M |
| Days Inventory Outstanding | 70.99 | - | - | - | 92.47 | 62.72 | 47.44 | 33.02 | 34.98 |
| Other Current Assets | 12.49M | 30.34M | 135K | 185.48M | 12.49M | 11.82M | 13.16M | 18.59M | 2.85M |
| Total Non-Current Assets | 3.46B | 1.09B | 469.72M | 468.97M | 3.46B | 5.6B | 4.13B | 3.45B | 2.94B |
| Property, Plant & Equipment | 2.79B | 574.69M | 195.11M | 173.34M | 2.79B | 2.8B | 2.39B | 2.08B | 2.03B |
| Fixed Asset Turnover | 0.31x | 0.09x | 0.41x | 0.11x | 0.31x | 0.28x | 0.27x | 0.29x | 0.27x |
| Goodwill | 441.36M | 0 | 0 | 0 | 441.36M | 421.98M | 404.84M | 343.29M | 343.29M |
| Intangible Assets | 241.55M | 119.38M | 118.68M | 93.04M | 241.55M | 227.1M | 97.73M | 93.52M | 96.55M |
| Long-Term Investments | 7.96B | 395.34M | 155.93M | 202.59M | 2.01B | 1.86B | 909.53M | 475.63M | 0 |
| Other Non-Current Assets | -2.02B | 0 | 0 | 0 | -2.02B | 288.48M | 328.25M | 456.45M | 473.96M |
| Total Assets | 3.85B | 1.17B | 501.51M | 681.67M | 3.85B | 5.89B | 4.29B | 3.54B | 3.02B |
| Asset Turnover | 0.16x | 0.04x | 0.16x | 0.03x | 0.23x | 0.13x | 0.15x | 0.17x | 0.18x |
| Asset Growth % | 16% | 134.18% | -26.43% | -82.31% | -34.63% | 37.31% | 21.13% | 17.46% | - |
| Total Current Liabilities | 527.06M | 75.66M | 83.08M | 74.57M | 527.06M | 438.75M | 258.88M | 133.02M | 89.02M |
| Accounts Payable | 246.35M | 2.79M | 5.79M | 6.1M | 246.35M | 201.51M | 104.22M | 31.51M | 31.58M |
| Days Payables Outstanding | 382.17 | 37.23 | 171.63 | 352.46 | 464.1 | 368.32 | 228.83 | 79.48 | 80.09 |
| Short-Term Debt | 0 | 176K | 741K | 571K | 0 | 20.73M | 19.27M | 16.33M | 13.84M |
| Deferred Revenue (Current) | 503.67M | 564K | 809K | 1.3M | 127.93M | 111.09M | 88.47M | 60.76M | 26.51M |
| Other Current Liabilities | 152.78M | 0 | 3.87M | 4.08M | 152.78M | 105.41M | 46.91M | 24.43M | 17.09M |
| Current Ratio | 0.75x | 1.12x | 0.38x | 2.85x | 0.75x | 0.67x | 0.61x | 0.72x | 0.87x |
| Quick Ratio | 0.66x | 1.12x | 0.38x | 2.85x | 0.66x | 0.59x | 0.52x | 0.62x | 0.72x |
| Cash Conversion Cycle | -202.59 | - | - | - | -235.36 | -196.97 | -114.63 | -9.97 | -5.44 |
| Total Non-Current Liabilities | 3.49B | 329.64M | 140.59M | 120.46M | 3.49B | 3.24B | 2.31B | 1.56B | 906.14M |
| Long-Term Debt | 3.44B | 219.43M | 61.56M | 51.13M | 3.44B | 3.21B | 2.29B | 1.56B | 901M |
| Capital Lease Obligations | 0 | 267K | 198K | 120K | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 1.07B | 5.66M | 5.62M | 2.66M | 0 | 273.53M | 313M | 521.45M | 452.43M |
| Other Non-Current Liabilities | 53.12M | 104.29M | 73.21M | 66.56M | 53.12M | -241.84M | -294.03M | -514.39M | -447.29M |
| Total Liabilities | 4.41B | 405.3M | 223.68M | 195.03M | 4.41B | 4.17B | 4.24B | 3.29B | 2.59B |
| Total Debt | 3.44B | 220.13M | 62.69M | 51.92M | 3.44B | 3.21B | 2.29B | 1.56B | 901M |
| Net Debt | 3.43B | 200.15M | 56.57M | 50.71M | 3.43B | 3.2B | 2.29B | 1.55B | 898.77M |
| Debt / Equity | 1.91x | 0.29x | 0.23x | 0.11x | 1.91x | 1.86x | 47.17x | 4.67x | 2.13x |
| Debt / EBITDA | 7.05x | 4.94x | 2.41x | 2.39x | 7.05x | 6.85x | 6.03x | 4.41x | 3.05x |
| Net Debt / EBITDA | 7.03x | 4.50x | 2.18x | 2.33x | 7.03x | 6.83x | 6.03x | 4.41x | 3.04x |
| Interest Coverage | 3.48x | 3.07x | 3.22x | 7.92x | 2.19x | - | - | - | - |
| Total Equity | 1.8B | 769.13M | 277.83M | 486.64M | 1.8B | 1.73B | 48.61M | 333.26M | 422.31M |
| Equity Growth % | 12035.59% | 176.83% | -42.91% | -72.99% | 4.42% | 3449.54% | -85.41% | -21.09% | - |
| Book Value per Share | 9.91 | 15.87 | 5.94 | 10.40 | 10.21 | 10.65 | 0.84 | 6.82 | 8.83 |
| Total Shareholders' Equity | 1.8B | 665.28M | 103.78M | 289.26M | 1.8B | 1.73B | 48.61M | 333.26M | 422.31M |
| Common Stock | 1.8B | 0 | 0 | 0 | 1.8B | 1.73B | 48.61M | 333.26M | 422.31M |
| Retained Earnings | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -482.18M | 665.28M | 103.78M | 289.26M | -482.18M | -380.35M | -279.19M | -195.86M | -133.43M |
| Minority Interest | 0 | 103.85M | 174.05M | 197.38M | 0 | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying TGE stock.
As of 2024, Generation Essentials Group (TGE) had total assets of $1.17B including $85.0M in current assets.
Generation Essentials Group (TGE) carries total debt of $220.1M, offset by $45.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Generation Essentials Group (TGE) has total shareholders' equity (book value) of $665.3M ($15.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Generation Essentials Group (TGE) reported a current ratio of 1.12x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
High leverage and liquidity
Balance Sheet Volatility and Instability
Based on historical financial data, TGE's balance sheet trajectory appears highly unstable, characterized by extreme fluctuations in equity levels, which dropped from $234.2M in 2017Q3 to a mere $15.6M by 2018Q1, signaling significant underlying financial fragility that warrants cautious interpretation by institutional investors.
The dramatic swings in equity suggest that the company's capital base is highly sensitive to non-operating charges or accounting adjustments. This volatility undermines the reliability of the balance sheet as a foundation for long-term growth, suggesting that the company's financial health is more precarious than headline figures might imply.
Excessive Leverage Risks Financial Flexibility
As reported in financial statements, TGE's debt-to-equity ratio reached an alarming 155.51 in 2018Q1, and while it has since moderated to 1.91 by 2019Q4, the persistent reliance on debt to fund operations suggests a structural dependency that limits strategic flexibility during industry downturns.
The high debt load relative to equity indicates that the company is operating with a thin margin of safety, leaving it vulnerable to interest rate volatility or credit market tightening. Investors should monitor whether this leverage is being utilized to fuel productive asset growth or merely to bridge gaps in the volatile movie production cycle.
Persistent Liquidity Constraints and Risks
According to quarterly filings, TGE consistently maintains a current ratio below 1.0, with a 2019Q4 reading of 0.75, indicating that the company's short-term assets are insufficient to cover its immediate liabilities, which poses a material risk to its ongoing operational continuity.
This chronic liquidity shortfall suggests that the company may struggle to meet its short-term obligations without constant refinancing or reliance on external capital injections. The inability to maintain a current ratio above parity is a significant red flag that implies potential cash flow mismatches between production cycles.
Asset Concentration in Intangible Value
Based on the provided balance sheet data, TGE's asset base is heavily dominated by PPE and goodwill, with net PPE reaching $2.8B in 2019Q4, suggesting an asset-heavy business model that requires continuous, high-level capital expenditure to maintain its competitive standing in the media sector.
The significant concentration in PPE and goodwill indicates that the company's value is tied to long-term, potentially illiquid assets that may be difficult to monetize during periods of financial stress. This asset structure necessitates a high degree of operational success to justify the carrying values on the balance sheet.