The company's financial position appears increasingly vulnerable, characterized by a debt-to-equity ratio of 4.28 and a current ratio of 0.96 as of 2025Q4.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Total Current Assets | 19.8M | 8.58M | 13.12M | 14.62M | 8.96M | 918.22K | 170.87K | 699.68K | 529.36K | 439.02K | 2.05M | 8.37M | 5.22M | 8.38M |
| Cash & Short-Term Investments | 527.69K | 2.44M | 2.66M | 502.58K | 616.45K | 830.28K | 76.88K | 551.86K | 279.19K | 435.63K | 1.79M | 2.59M | 4.15M | 3.31M |
| Cash Only | 493.13K | 2.38M | 620.53K | 502.58K | 616.45K | 830.28K | 76.88K | 551.86K | 279.19K | 435.63K | 1.79M | 2.59M | 4.15M | 3.31M |
| Short-Term Investments | 34.56K | 52.05K | 2.04M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 12.18M | 3.17M | 3.82M | 3.28M | 3.17M | 63.99K | 62.97K | 99.35K | 247.5K | 0 | 0 | 0 | 0 | 0 |
| Days Sales Outstanding | 223.76 | 122.96 | 106.47 | 38.41 | 67.4 | 63.28 | 29.33 | 21.07 | 201.23 | - | - | - | - | - |
| Inventory | 3.44M | 1.95M | 5.59M | 10.11M | 3.32M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | 78.13 | 78.46 | 169.29 | 138.96 | 81.38 | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 0 | 23.95K | 31.02K | 48.48K | 2.67K | 3.4K | 253.74K | 5.78M | 1.08M | 5.07M |
| Total Non-Current Assets | 4.61M | 4.07M | 2.11M | 613.6K | 188.52K | 3.65M | 5.38M | 5.01M | 4.85M | 2.22M | 2.65M | 3.51M | 2.11M | 3.46M |
| Property, Plant & Equipment | 236.41K | 309.17K | 214.02K | 244.89K | 79.3K | 3.48M | 5.22M | 5.01M | 4.85M | 2.22M | 2.65M | 3.51M | 2.11M | 3.46M |
| Fixed Asset Turnover | 84.07x | 30.46x | 61.23x | 127.19x | 216.33x | 0.11x | 0.15x | 0.34x | 0.09x | 0.07x | 0.14x | 0.07x | 0.09x | 0.07x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 2.1M | 1.71M | 835.71K | 368.71K | 106.79K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 174K | 154.69K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 2.43K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Assets | 24.41M | 12.65M | 15.23M | 15.24M | 9.15M | 4.57M | 5.55M | 5.71M | 5.38M | 2.67M | 4.7M | 11.88M | 7.34M | 11.85M |
| Asset Turnover | 0.81x | 0.74x | 0.86x | 2.04x | 1.87x | 0.08x | 0.14x | 0.30x | 0.08x | 0.06x | 0.08x | 0.02x | 0.03x | 0.02x |
| Asset Growth % | 93.01% | -16.94% | -0.06% | 66.52% | 100.12% | -17.63% | -2.84% | 6.11% | 101.92% | -43.25% | -60.45% | 61.92% | -38.08% | - |
| Total Current Liabilities | 20.71M | 9.21M | 9.82M | 10.96M | 8.17M | 154.79K | 758.54K | 45.83K | 108K | 55.34K | 33.39K | 5.94M | 125.6K | 3M |
| Accounts Payable | 12.21M | 2.02M | 1.85M | 2.41M | 2.67M | 80.28K | 212.1K | 45.15K | 90.46K | 45.38K | 19.6K | 115.94K | 4.44K | 49.84K |
| Days Payables Outstanding | 277.08 | 81.39 | 55.99 | 33.17 | 65.5 | 108.55 | 124.85 | 24.68 | 214.24 | 188.21 | 57.18 | 585.64 | 36.23 | 155.72 |
| Short-Term Debt | 4.76M | 4.46M | 3.9M | 8.01M | 4.21M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 121.02K | 772.74K | 70.14K | 156.89K | 191.52K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 0 | 0 | 0 | 0 | 154.79K | 758.54K | 45.83K | 108K | 55.34K | 33.39K | 5.94M | 125.6K | 3M |
| Current Ratio | 0.96x | 0.93x | 1.34x | 1.33x | 1.10x | 5.93x | 0.23x | 15.27x | 4.90x | 7.93x | 61.35x | 1.41x | 41.57x | 2.79x |
| Quick Ratio | 0.79x | 0.72x | 0.77x | 0.41x | 0.69x | 5.93x | 0.23x | 15.27x | 4.90x | 7.93x | 61.35x | 1.41x | 41.57x | 2.79x |
| Cash Conversion Cycle | 24.81 | 120.03 | 219.77 | 144.2 | 83.27 | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 2.1M | 811.77K | 145.58K | 363.39K | 595.91K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 2.06M | 774.47K | 94.31K | 324.29K | 554.66K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 10.06K | 3.96K | 18.49K | 39.1K | 41.24K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 30.59K | 33.34K | 32.78K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 22.81M | 10.02M | 9.97M | 11.32M | 8.76M | 269.58K | 965.52K | 106.24K | 168.46K | 80.19K | 54.73K | 5.96M | 130.21K | 3.12M |
| Total Debt | 6.85M | 5.27M | 4.05M | 8.43M | 4.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Net Debt | 6.35M | 2.89M | 3.43M | 7.93M | 4.2M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Debt / Equity | 4.28x | 2.01x | 0.77x | 2.15x | 12.43x | - | - | - | - | - | - | - | - | - |
| Debt / EBITDA | - | - | - | 4.92x | 9.71x | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | - | - | - | 4.63x | 8.47x | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -1.31x | -10.72x | -6.71x | 5.52x | 3.52x | - | - | - | - | - | - | - | - | - |
| Total Equity | 1.6M | 2.62M | 5.26M | 3.92M | 387.55K | 4.3M | 4.58M | 5.61M | 5.22M | 2.59M | 4.64M | 5.92M | 7.21M | 8.72M |
| Equity Growth % | -39.04% | -50.09% | 34.24% | 910.48% | -90.99% | -6.16% | -18.22% | 7.5% | 101.67% | -44.31% | -21.51% | -17.89% | -17.41% | - |
| Book Value per Share | 0.73 | 1.19 | 2.55 | 1.78 | 0.18 | 3.10 | 4.35 | 5.78 | 6.05 | 3.14 | 5.56 | 7.09 | 8.63 | 14.05 |
| Total Shareholders' Equity | 1.6M | 2.62M | 5.26M | 3.92M | 387.55K | 4.3M | 4.58M | 5.61M | 5.22M | 2.59M | 4.64M | 5.92M | 7.21M | 8.72M |
| Common Stock | 2.75M | 2.75M | 2.75M | 2.5M | 4.29K | 4.66K | 4.14K | 45.59K | 42.2K | 47.23K | 44.09K | 33.29K | 28.53K | 30.69K |
| Retained Earnings | -6.51M | -5.35M | -2.01M | 1.03M | 267.22K | -48.13M | -53.38M | -47.81M | -46.44M | -57.2M | -51.16M | -36.19M | -28.64M | -28.93M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.41M | 1.41M | 1.41M | 383.27K | 116.05K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Liquidity and solvency risk
As reported in recent financial statements, Turbo Energy's total assets have expanded to $24.4 million by 2025Q4, yet this growth is accompanied by a significant erosion of equity, which has dwindled to $1.6 million, signaling a weakening balance sheet trajectory that warrants close investor scrutiny.
The rapid expansion of the asset base appears to be funded primarily through increased liabilities rather than retained earnings, which remain deeply negative at -$6.5 million. This trend suggests that the company's aggressive growth strategy is currently outpacing its ability to build a sustainable capital base.
Based on the latest quarterly filings, Turbo Energy maintains a cash position of only $493,129, which, when measured against a current ratio of 0.96, suggests a severely limited buffer to absorb operational shocks or fund ongoing working capital requirements in the competitive Iberian solar market.
The current ratio falling below 1.0 indicates that the company may struggle to meet its short-term obligations without external financing or further support from its parent entity. Investors should monitor whether this liquidity constraint forces a pivot toward dilutive capital raises or a reduction in operational scale.
According to historical balance sheet data, the company's debt-to-equity ratio has climbed to 4.28 as of 2025Q4, reflecting an increasing reliance on debt financing to support operations as the firm struggles to generate positive internal cash flow to fund its expansionary activities.
The shift toward higher leverage appears to be a necessity-driven response to the lack of internal profitability rather than a strategic choice to optimize capital structure. This elevated debt load, combined with negative net margins, suggests that the company's financial flexibility is becoming increasingly constrained.
As indicated by the 2025Q4 balance sheet, the presence of $2.1 million in goodwill alongside a minimal $236,400 in net property, plant, and equipment suggests that the company's asset quality is heavily reliant on intangible valuations rather than tangible, revenue-generating infrastructure.
The reliance on goodwill in a hardware-centric business model may expose the company to future impairment risks if the anticipated synergies from its integrated storage solutions fail to materialize. This composition suggests that the headline asset figures may overstate the company's underlying tangible value to creditors.
Quick answers to the most common questions about buying TURB stock.
As of 2025, Turbo Energy, S.A. American Depositary Shares (TURB) had total assets of $24.4M including $19.8M in current assets.
Turbo Energy, S.A. American Depositary Shares (TURB) carries total debt of $6.8M, offset by $0.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Turbo Energy, S.A. American Depositary Shares (TURB) has total shareholders' equity (book value) of $1.6M ($0.73 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Turbo Energy, S.A. American Depositary Shares (TURB) reported a current ratio of 0.96x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.