The company's financial stability is severely compromised, as evidenced by a debt-to-equity ratio that surged to 23.55 by 2025Q4 alongside a thin current ratio of 0.50.
| Total Current Assets | 17.59M | 17.72M | 16.85M | 11.07M |
| Cash & Short-Term Investments | 2.91M | 3.65M | 3.03M | 3.91M |
| Cash Only | 1.93M | 3.65M | 3.03M | 3.73M |
| Short-Term Investments | 983.04K | 46.6K | 47.22K | 179.09K |
| Accounts Receivable | 13.2M | 12.42M | 12.77M | 6.53M |
| Days Sales Outstanding | 107.04 | 93.45 | 130.07 | 119.11 |
| Inventory | 80.53K | 87.83K | 115.62K | 1.31K |
| Days Inventory Outstanding | 0.95 | 1.04 | 1.82 | 0.04 |
| Other Current Assets | 441.25K | 253.64K | 71.73K | 38.03K |
| Total Non-Current Assets | 32.35M | 75.19M | 102.76M | 15.46M |
| Property, Plant & Equipment | 4.24M | 5.61M | 6.68M | 781.71K |
| Fixed Asset Turnover | 10.61x | 8.64x | 5.37x | 25.60x |
| Goodwill | 8.7M | 33.96M | 60.74M | 9.67M |
| Intangible Assets | 15.57M | 30.98M | 33.41M | 4.5M |
| Long-Term Investments | 211.59K | 148.93K | 156.77K | 113.97K |
| Other Non-Current Assets | 3.11M | 3.93M | 1.13M | 336.81K |
| Total Assets | 49.95M | 92.92M | 119.62M | 26.53M |
| Asset Turnover | 0.90x | 0.52x | 0.30x | 0.75x |
| Asset Growth % | -46.25% | -22.32% | 350.8% | - |
| Total Current Liabilities | 35.04M | 32.99M | 24.9M | 45.87M |
| Accounts Payable | 5.52M | 4.9M | 4.94M | 2.06M |
| Days Payables Outstanding | 64.92 | 58.14 | 77.72 | 61.28 |
| Short-Term Debt | 14.25M | 11.86M | 8.51M | 3.13M |
| Deferred Revenue (Current) | 1.38M | 578.22K | 988.75K | 680.72K |
| Other Current Liabilities | 5.88M | 5.65M | 2.6M | 35.55M |
| Current Ratio | 0.50x | 0.54x | 0.68x | 0.24x |
| Quick Ratio | 0.50x | 0.53x | 0.67x | 0.24x |
| Cash Conversion Cycle | 43.06 | 36.35 | 54.17 | 57.88 |
| Total Non-Current Liabilities | 13.98M | 23.52M | 22.35M | 4.8M |
| Long-Term Debt | 3.55M | 6.27M | 3.12M | 2.88M |
| Capital Lease Obligations | 3.28M | 4.11M | 5.01M | 338.98K |
| Deferred Tax Liabilities | 5.16M | 10.35M | 10.94M | 852.5K |
| Other Non-Current Liabilities | 1.99M | 2.79M | 3.27M | 728.52K |
| Total Liabilities | 49.03M | 56.51M | 47.25M | 50.67M |
| Total Debt | 21.62M | 23.14M | 17.59M | 6.71M |
| Net Debt | 19.69M | 19.49M | 14.56M | 2.98M |
| Debt / Equity | 23.55x | 0.64x | 0.24x | - |
| Debt / EBITDA | - | - | - | - |
| Net Debt / EBITDA | - | - | - | - |
| Interest Coverage | -11.18x | -9.45x | -5.06x | -83.96x |
| Total Equity | 918.09K | 36.4M | 72.37M | -24.14M |
| Equity Growth % | -97.48% | -49.7% | 399.83% | - |
| Book Value per Share | 0.53 | 29.67 | 58.02 | -19.35 |
| Total Shareholders' Equity | 919.25K | 36.4M | 72.62M | -25.3M |
| Common Stock | 5.11K | 2.61K | 21.88K | 8.33K |
| Retained Earnings | -160.91M | -117.21M | -32.2M | -31.4M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 195.82K | -1.1M | -803.91K | -47.23K |
| Minority Interest | -1.17K | 4.62K | -252.71K | 1.17M |
Imminent liquidity and solvency risk
As reported in recent financial filings, TNMG's equity has plummeted from $72.6M in 2023Q4 to a mere $919.3K by 2025Q4, signaling a severe and rapid deterioration of the company's net worth that reflects persistent operational losses and potential asset impairment cycles.
The precipitous decline in equity suggests that the company is consuming its capital base at an unsustainable rate to fund ongoing operations. Investors should monitor whether this trajectory indicates a fundamental inability to achieve profitability before the equity base is fully exhausted.
Based on the latest quarterly data, TNMG's debt-to-equity ratio has surged to 23.55, a dramatic increase from 0.24 in 2023Q4, which suggests that the company's reliance on debt is becoming increasingly precarious as its equity cushion evaporates.
While the absolute debt level of $21.6M has remained relatively contained, the massive spike in the D/E ratio highlights a dangerous misalignment between capital structure and operational performance. This leverage profile warrants further investigation into the company's ability to service existing obligations without further dilutive financing.
According to recent SEC filings, TNMG's cash reserves have dwindled to $1.9M, resulting in a current ratio of 0.50, which indicates that the company lacks sufficient liquid assets to cover its short-term liabilities in the immediate future.
The current ratio of 0.50 implies that for every dollar of short-term debt, the company holds only fifty cents in current assets, suggesting a high risk of a liquidity crunch. This position appears to leave management with virtually no buffer against operational shocks or unexpected cash outflows.
As evidenced by the balance sheet, TNMG holds $8.7M in goodwill, which, when compared to the company's total equity of $919.3K, suggests that any further impairment of these intangible assets could potentially push the company into a negative equity position.
The presence of significant goodwill relative to the remaining equity base makes the balance sheet highly sensitive to future valuation adjustments. Investors should consider the risk that these intangible assets may not reflect current market realities, potentially masking deeper solvency issues.
Quick answers to the most common questions about buying TNMG stock.
As of 2025, TNL Mediagene (TNMG) had total assets of $49.9M including $17.6M in current assets.
TNL Mediagene (TNMG) carries total debt of $21.6M, offset by $2.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
TNL Mediagene (TNMG) has total shareholders' equity (book value) of $0.9M ($0.53 book value per share). Book value represents the net worth of the company belonging to common stock holders.
TNL Mediagene (TNMG) reported a current ratio of 0.50x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.