The company maintains a minimal debt-to-equity ratio of 0.01 as of 2025Q4, yet total assets have rapidly contracted by approximately 80.8% from $19.8M in 2024Q4 to $3.8M in 2025Q4.
| Total Current Assets | 2.24M | 3.78M | 7.13M | 2.98M | 251.27K |
| Cash & Short-Term Investments | 306.69K | 42.38K | 134.35K | 217.38K | 1.39K |
| Cash Only | 306.69K | 42.38K | 134.35K | 217.38K | 1.39K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.25M | 1.56M | 5.97M | 40.25K | 561 |
| Days Sales Outstanding | 49.98 | 120.19 | 128.67 | 1.73 | 10.44 |
| Inventory | 455.56K | 0 | 153.21K | 2.07M | 0 |
| Days Inventory Outstanding | 71.67 | - | 4.84 | 1.29K | - |
| Other Current Assets | 83.34K | 0 | 595.06K | 63.73K | 0 |
| Total Non-Current Assets | 1.54M | 16.01M | 219.21K | 453K | 88.47K |
| Property, Plant & Equipment | 20.37K | 72.66K | 174.96K | 439.27K | 10.59K |
| Fixed Asset Turnover | 448.13x | 65.34x | 96.84x | 19.38x | 1.85x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 1.51M | 15.89M | 44.25K | 0 | 77.13K |
| Total Assets | 3.78M | 19.78M | 7.35M | 3.43M | 339.75K |
| Asset Turnover | 2.41x | 0.24x | 2.31x | 2.48x | 0.06x |
| Asset Growth % | -80.89% | 169.22% | 114.12% | 910.21% | - |
| Total Current Liabilities | 210.16K | 1.16M | 2.4M | 902.55K | 384.92K |
| Accounts Payable | 60.67K | 0 | 0 | 200.61K | 0 |
| Days Payables Outstanding | 9.55 | - | - | 124.83 | - |
| Short-Term Debt | 25.42K | 140.56K | 777.89K | 0 | 327.38K |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | -279.72K | -140.56K | 1.03M | 588.2K | -327.38K |
| Current Ratio | 10.66x | 3.25x | 2.98x | 3.30x | 0.65x |
| Quick Ratio | 8.49x | 3.25x | 2.91x | 1.01x | 0.65x |
| Cash Conversion Cycle | 112.1 | - | - | 1.17K | - |
| Total Non-Current Liabilities | 4.53K | 0 | 0 | 17.76K | 1.76K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 4.53K | 0 | 0 | 17.76K | 1.76K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 214.68K | 1.16M | 2.4M | 920.32K | 386.68K |
| Total Debt | 29.95K | 140.56K | 818.31K | 71.08K | 349.72K |
| Net Debt | -276.75K | -42.38K | 683.96K | -146.31K | 348.33K |
| Debt / Equity | 0.01x | 0.01x | 0.17x | 0.03x | - |
| Debt / EBITDA | 0.01x | - | 0.25x | 0.03x | - |
| Net Debt / EBITDA | -0.09x | - | 0.21x | -0.06x | - |
| Interest Coverage | - | - | - | - | - |
| Total Equity | 3.57M | 18.62M | 4.95M | 2.51M | -46.93K |
| Equity Growth % | -80.85% | 275.97% | 97.17% | 5452.11% | - |
| Book Value per Share | 4.33 | 48.95 | 16.51 | 8.37 | -0.16 |
| Total Shareholders' Equity | 3.57M | 18.62M | 4.95M | 2.51M | -46.93K |
| Common Stock | 1.84K | 5.6K | 2.7K | 2.7K | 2.7K |
| Retained Earnings | 703.97K | 2.29M | 4.31M | 1.87M | -46.95K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Working capital liquidity crunch
As reported in financial statements, TWG's total assets have experienced significant contraction, falling from $19.8M in 2024Q4 to $3.8M by 2025Q4, which suggests a rapid unwinding of the company's asset base and raises concerns regarding the long-term sustainability of its current business trajectory.
The dramatic reduction in asset scale over the last four quarters indicates that the company may be struggling to maintain its operational footprint. This trend warrants investigation into whether the firm is liquidating assets to cover operational shortfalls or if the business model is undergoing a fundamental downsizing.
Based on the most recent 2025Q4 filings, TWG maintains a cash balance of only $306,694 against a backdrop of erratic revenue, which suggests that the company lacks a sufficient liquidity buffer to withstand prolonged operational disruptions or unexpected shocks in the luxury food distribution market.
While the current ratio of 10.66 appears high, it is likely distorted by the low absolute level of liabilities rather than an abundance of liquid assets. Investors should monitor whether this cash position is sufficient to fund working capital requirements given the company's history of negative operating cash flows.
According to the provided balance sheet data, TWG maintains a negligible debt-to-equity ratio of 0.01 as of 2025Q4, which suggests that the company is not currently relying on external financing to fund its operations, though this may reflect limited access to credit markets.
The low leverage profile appears to be a necessity-driven outcome rather than a strategic choice, given the company's inability to generate consistent internal cash. The lack of debt provides little comfort if the underlying business model cannot achieve self-sustaining profitability.
As indicated by the historical data, the absence of goodwill and the rapid decline in net PPE from $439.3K in 2022Q4 to $20.4K in 2025Q4 suggests that the company's asset base is becoming increasingly hollow, potentially masking underlying operational inefficiencies or inventory impairment risks.
The rapid depreciation or disposal of fixed assets may imply that the company is shifting toward an even leaner, more transactional model that lacks physical substance. This trend makes the balance sheet appear increasingly fragile and suggests that the company's value is entirely dependent on volatile, short-term trading relationships.
Quick answers to the most common questions about buying TWG stock.
As of 2025, Top Wealth Group Holding Limited Ordinary Shares (TWG) had total assets of $3.8M including $2.2M in current assets.
Top Wealth Group Holding Limited Ordinary Shares (TWG) carries total debt of $0.0M, offset by $0.3M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Top Wealth Group Holding Limited Ordinary Shares (TWG) has total shareholders' equity (book value) of $3.6M ($4.33 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Top Wealth Group Holding Limited Ordinary Shares (TWG) reported a current ratio of 10.66x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.