The company maintains a healthy liquidity profile with a current ratio of 9.36 as of 2024Q4, though total assets have expanded rapidly to $409.3M, largely driven by intangible goodwill.
| Total Current Assets | 216.67M | 48.97M | 19.76M | 8.09M | 3.45M |
| Cash & Short-Term Investments | 36.21M | 4.64M | 4M | 3.12M | 431.64K |
| Cash Only | 36.21M | 4.64M | 4M | 3.12M | 431.64K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 132.18M | 39.74M | 15.54M | 4.9M | 3.02M |
| Days Sales Outstanding | 387.86 | 159.74 | 159.49 | 37.63 | 315.09 |
| Inventory | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - |
| Other Current Assets | 0 | 0 | 0 | 0 | 4 |
| Total Non-Current Assets | 192.64M | 69.08M | 22.06M | 36.02M | 12 |
| Property, Plant & Equipment | 3.1M | 4.4M | 2.27M | 152.53K | 12 |
| Fixed Asset Turnover | 40.11x | 20.63x | 15.70x | 311.25x | 291116.06x |
| Goodwill | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 32.58M | 4.7M | 0 | 0 | 0 |
| Long-Term Investments | 127.62M | 38.44M | 12.89M | 35.53M | 0 |
| Other Non-Current Assets | 29.34M | 21.2M | 6.56M | 0 | 0 |
| Total Assets | 409.31M | 118.05M | 41.82M | 44.11M | 3.45M |
| Asset Turnover | 0.30x | 0.77x | 0.85x | 1.08x | 1.01x |
| Asset Growth % | 246.73% | 182.25% | -5.19% | 1177.82% | - |
| Total Current Liabilities | 23.15M | 22.99M | 13.23M | 12.83M | 893.89K |
| Accounts Payable | 11.24M | 2.33M | 139.1K | 270.66K | 0 |
| Days Payables Outstanding | 185.43 | 55.2 | 6.63 | 9.59 | - |
| Short-Term Debt | 717.3K | 677.28K | 783.54K | 812.47K | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 2.01M | 0 |
| Other Current Liabilities | 148.89K | 9.53M | 0 | 0 | 10.88K |
| Current Ratio | 9.36x | 2.13x | 1.49x | 0.63x | 3.86x |
| Quick Ratio | 9.36x | 2.13x | 1.49x | 0.63x | 3.86x |
| Cash Conversion Cycle | - | - | - | - | - |
| Total Non-Current Liabilities | 265.94K | 2.09M | 4.32M | 11.92M | 30.02K |
| Long-Term Debt | 98.06K | 245.32K | 309.33K | 398.53K | 0 |
| Capital Lease Obligations | 167.88K | 544.97K | 422.75K | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 1.3M | 3.59M | 9.96M | 30.02K |
| Total Liabilities | 23.42M | 25.08M | 17.55M | 24.75M | 923.91K |
| Total Debt | 1.35M | 2.18M | 1.84M | 1.21M | 0 |
| Net Debt | -34.86M | -2.46M | -2.16M | -1.91M | -431.64K |
| Debt / Equity | 0.00x | 0.02x | 0.08x | 0.06x | - |
| Debt / EBITDA | 0.04x | 0.06x | 0.14x | 0.04x | - |
| Net Debt / EBITDA | -0.90x | -0.07x | -0.16x | -0.07x | -0.14x |
| Interest Coverage | 59.26x | 359.96x | 273.69x | 255.13x | 365.91x |
| Total Equity | 385.89M | 92.97M | 24.27M | 19.36M | 2.53M |
| Equity Growth % | 315.07% | 282.99% | 25.36% | 665.82% | - |
| Book Value per Share | 2682.61 | 71902.45 | 19219.73 | 15331.15 | 2021.12 |
| Total Shareholders' Equity | 385.9M | 97.06M | 25.92M | 19.73M | 2.53M |
| Common Stock | 341.52M | 44.01M | 13.13M | 220K | 220.43K |
| Retained Earnings | 44.39M | 42.15M | -164.91K | 12.98M | 1.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -3.75K | 10.91M | 12.95M | 6.53M | 484.52K |
| Minority Interest | -5.61K | -4.09M | -1.64M | -371.26K | 0 |
Project-based revenue volatility
As reported in financial statements, VCI Global's total assets surged from $41.8M in 2022Q4 to $409.3M by 2024Q4, a rapid expansion that appears disconnected from the firm's underlying operational volatility and suggests a reliance on non-organic growth or significant shifts in capital structure over the period.
The dramatic increase in the asset base warrants caution, as it does not appear to correlate with a proportional increase in stable, recurring revenue streams. Investors should monitor whether this asset growth represents genuine value creation or merely the accumulation of intangible items that may be subject to future impairment.
Based on recent SEC filings, VCI Global's goodwill has expanded from zero in 2022Q4 to $32.6M by 2024Q4, indicating that a growing portion of the company's asset base is comprised of intangible value derived from acquisitions rather than tangible, income-generating property, plant, or equipment.
The shift toward goodwill suggests an aggressive M&A strategy that may introduce long-term integration risks. Given the firm's service-oriented model, the lack of significant PPE investment implies that the company's value is heavily tied to human capital and client relationships, which are inherently difficult to quantify and protect.
According to the company's balance sheet data, cash reserves fluctuated significantly, reaching $36.2M in 2024Q4 compared to just $4.6M in 2023Q4, a volatility that reflects the project-based nature of the firm's listing solutions business and the timing of large, non-recurring client payments.
While the current ratio of 9.36 suggests a strong short-term liquidity buffer, this metric may be misleading due to the lumpy nature of cash inflows. The company's ability to maintain this liquidity depends entirely on its success in closing high-value mandates, making the balance sheet sensitive to market-wide IPO windows.
As indicated by historical data, equity has grown to $385.9M by 2024Q4, yet this expansion is frequently influenced by non-cash items such as stock-based compensation, which may be masking the true economic cost of talent retention and diluting the value for existing shareholders over time.
The reliance on equity-based incentives to drive growth suggests that management is prioritizing expansion over immediate earnings per share stability. Investors should investigate the extent to which this equity growth is supported by retained earnings versus external financing or accounting adjustments that do not reflect cash-based performance.
Quick answers to the most common questions about buying VCIG stock.
As of 2024, VCI Global Limited (VCIG) had total assets of $409.3M including $216.7M in current assets.
VCI Global Limited (VCIG) carries total debt of $1.4M, offset by $36.2M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
VCI Global Limited (VCIG) has total shareholders' equity (book value) of $385.9M ($2682.61 book value per share). Book value represents the net worth of the company belonging to common stock holders.
VCI Global Limited (VCIG) reported a current ratio of 9.36x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.