The firm's financial position is increasingly precarious, evidenced by a $69.0 million deficit in retained earnings and a total debt-to-equity ratio that remains constrained by limited access to credit markets.
| Total Current Assets | 17.16M | 5.52M | 956.71K | 6.03M | 2.27M | 3.59M | 635.04K |
| Cash & Short-Term Investments | 2.91M | 236.9K | 371.65K | 4.59M | 1.85M | 2.84M | 463.15K |
| Cash Only | 2.91M | 236.9K | 200.01K | 4.59M | 1.85M | 2.84M | 372 |
| Short-Term Investments | 0 | 0 | 171.63K | 0 | 0 | 0 | 462.77K |
| Accounts Receivable | 984.89K | 1.59M | -84.83K | 163.17K | 0 | 155.14K | 87.99K |
| Days Sales Outstanding | 118.05 | 249.47 | - | 0.86 | - | 4.04 | 119.76 |
| Inventory | 18.46K | 13.18K | 27.47K | 400.54K | 216.07K | 392.76K | 0 |
| Days Inventory Outstanding | 5.53 | 7.28 | 0.47 | 2.12 | 1 | 10.33 | - |
| Other Current Assets | 13.24M | 3.68M | 12.25K | 12.38K | 0 | 12.36K | 83.91K |
| Total Non-Current Assets | 4.43M | 9.35M | 3.32M | 340.98K | 431.18K | 102.65K | 333 |
| Property, Plant & Equipment | 73.37K | 223.91K | 190.94K | 340.98K | 337.64K | 102.65K | 333 |
| Fixed Asset Turnover | 7.01x | 10.41x | 115.57x | 203.56x | 235.97x | 136.59x | 805.30x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 3.04M | 3.13M | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 4.36M | 6.08M | 0 | 0 | 93.54K | 0 | 0 |
| Total Assets | 21.59M | 14.87M | 4.28M | 6.37M | 2.7M | 3.69M | 635.38K |
| Asset Turnover | 0.20x | 0.16x | 5.16x | 10.89x | 29.46x | 3.80x | 0.42x |
| Asset Growth % | 368.58% | 247.62% | -32.86% | 135.64% | -26.67% | 480.45% | - |
| Total Current Liabilities | 4.81M | 3.67M | 895.11K | 6.47M | 18.22M | 5.15M | 214.72K |
| Accounts Payable | 20.96K | 20K | 22.44K | 42.85K | 39.72K | 205.69K | 39.78K |
| Days Payables Outstanding | 2.87 | 11.05 | 0.39 | 0.23 | 0.18 | 5.41 | 64.48 |
| Short-Term Debt | 55.78K | 45.62K | 44.71K | 4.96M | 14.81M | 5.01K | 54.44K |
| Deferred Revenue (Current) | 872 | 0 | 188.75K | 318.56K | 130.07K | 354.3K | 0 |
| Other Current Liabilities | 4.58M | 3.57M | 510.35K | 602.95K | 3.12M | 4.13M | 30.98K |
| Current Ratio | 3.57x | 1.51x | 1.07x | 0.93x | 0.12x | 0.70x | 2.96x |
| Quick Ratio | 3.57x | 1.50x | 1.04x | 0.87x | 0.11x | 0.62x | 2.96x |
| Cash Conversion Cycle | 120.71 | 245.71 | - | 2.75 | - | 8.96 | - |
| Total Non-Current Liabilities | 1.17M | 460.89K | 2.74K | 30.14K | 78.88K | 5.06M | 0 |
| Long-Term Debt | 0 | 0 | 2.74K | 8.1K | 78.88K | 5.06M | 0 |
| Capital Lease Obligations | 125.64K | 77.01K | 0 | 22.04K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.17M | 383.89K | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.97M | 4.13M | 897.85K | 6.5M | 18.3M | 10.21M | 214.72K |
| Total Debt | 55.78K | 159.24K | 64.71K | 5.03M | 14.89M | 5.07M | 54.44K |
| Net Debt | -2.86M | -77.66K | -135.3K | 434.11K | 13.05M | 2.22M | 54.07K |
| Debt / Equity | 0.00x | 0.01x | 0.02x | - | - | - | 0.13x |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.10x | - | - | - | - | - | - |
| Interest Coverage | -3570.66x | -1048.44x | -14.11x | -7.40x | -6.29x | -18.67x | - |
| Total Equity | 15.62M | 10.74M | 3.38M | -130.33K | -15.6M | -6.52M | 420.65K |
| Equity Growth % | 251.49% | 217.79% | 2693.94% | 99.16% | -139.2% | -1650.03% | - |
| Book Value per Share | 9.32 | 9.13 | 196.86 | -27.33 | -5294.15 | -2164.76 | 139.66 |
| Total Shareholders' Equity | 15.62M | 10.74M | 3.38M | -130.33K | -15.6M | -6.52M | 420.65K |
| Common Stock | 18 | 41 | 17 | 180 | 105 | 103 | 103 |
| Retained Earnings | -68.97M | -61.41M | -38.03M | -31.44M | -19.72M | -7.97M | -46.15K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 119.42K | 128K | 238.96K | -172.62K | 98.52K | -55.58K | -12.44K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Imminent liquidity exhaustion
As reported in recent financial statements, TGL's cash position has fluctuated significantly, dropping to a precarious $236,895 by 2025Q4, which leaves the company with an extremely thin buffer against its ongoing operating losses and suggests a high probability of near-term capital requirements to maintain operations.
The volatility in the current ratio, which swung from 8.18 in 2025Q3 to 1.51 in 2025Q4, indicates that the company's liquidity is highly sensitive to working capital timing rather than stable cash generation. Investors should monitor this closely, as the current cash runway appears insufficient to support the company's high fixed-cost structure without further dilutive financing.
Based on the company's reported balance sheet, TGL has historically carried significant goodwill, peaking at $15.2 million in 2025Q3 before dropping to zero by 2026Q3, which suggests substantial impairment charges that reflect the failure of past acquisitions to deliver expected economic value to the platform.
The shift away from intangible-heavy assets toward a smaller asset base indicates a potential write-down of failed strategic investments. This trend warrants further investigation, as it suggests that the company's historical growth strategy was predicated on acquisitions that did not materialize into a sustainable competitive advantage.
According to the provided financial data, TGL's equity base has been severely eroded by persistent losses, with retained earnings reaching a deficit of $69.0 million by 2026Q3, signaling that the company has consistently failed to generate positive returns on the capital invested by shareholders.
The consistent decline in retained earnings highlights a structural inability to achieve profitability, forcing the company to rely on external capital to sustain its operations. This pattern of value destruction suggests that the current equity valuation may be disconnected from the underlying economic reality of the business.
As indicated by the balance sheet, the company's reliance on minimal debt levels appears to be a function of limited access to credit markets rather than a strategic choice, leaving the firm entirely dependent on equity-based financing to cover its substantial and ongoing operational cash burn.
The absence of meaningful debt might be viewed as a positive, but in this context, it appears to reflect a lack of institutional confidence in the company's ability to service interest obligations. Investors should be wary that the lack of leverage may be a precursor to highly dilutive equity raises as the company struggles to fund its operations.
Quick answers to the most common questions about buying TGL stock.
As of 2025, Treasure Global Inc. (TGL) had total assets of $14.9M including $5.5M in current assets.
Treasure Global Inc. (TGL) carries total debt of $0.2M, offset by $0.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Treasure Global Inc. (TGL) has total shareholders' equity (book value) of $10.7M ($9.13 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Treasure Global Inc. (TGL) reported a current ratio of 1.51x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.