The company's asset base has contracted significantly from $39.8 million in 2023Q4 to $16.2 million in 2025Q4, reflecting the erosion of equity due to a $34.0 million accumulated deficit.
| Total Current Assets | 9.6M | 4.9M | 10.42M | 26.65M | 29.89M | 13.07M | 1.83M | 931.93K |
| Cash & Short-Term Investments | 5.46M | 1.43M | 7.49M | 20.96M | 24.98M | 9.97M | 891.82K | 215.57K |
| Cash Only | 5.46M | 1.43M | 7.49M | 16.5M | 23.5M | 6.98M | 891.82K | 215.57K |
| Short-Term Investments | 0 | 0 | 0 | 4.46M | 1.48M | 3M | 0 | 0 |
| Accounts Receivable | 4.05M | 531.25K | 0 | 80.16K | 14.17K | 292.06K | 6.1K | 0 |
| Days Sales Outstanding | 29.44 | 13.08 | - | 0.88 | 0.16 | 6.76 | 0.2 | - |
| Inventory | 2.55M | 2.49M | 2.52M | 4.88M | 4.01M | 1.8M | 936.68K | 704.16K |
| Days Inventory Outstanding | 65.23 | 67.09 | 60.68 | 59.12 | 68.59 | 69.16 | 54.36 | 40.44 |
| Other Current Assets | -2.47M | 441.65K | 411.26K | 720.75K | 882.42K | 105.5K | 0 | 0 |
| Total Non-Current Assets | 13.62M | 11.34M | 15.47M | 13.2M | 8.34M | 7.53M | 2.67M | 1.33M |
| Property, Plant & Equipment | 10.63M | 8.34M | 15.43M | 13.15M | 6.87M | 4.43M | 2.64M | 1.33M |
| Fixed Asset Turnover | 1.65x | 1.78x | 0.93x | 2.54x | 4.66x | 3.56x | 4.18x | 7.87x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 2.97M | 2.97M | 0 | 0 | 1.45M | 3.07M | 0 | 0 |
| Other Non-Current Assets | 2.99M | 26.19K | 40.28K | 51.42K | 32.52K | 25K | 25K | 0 |
| Total Assets | 23.22M | 16.23M | 25.89M | 39.85M | 38.23M | 20.6M | 4.5M | 2.26M |
| Asset Turnover | 0.75x | 0.91x | 0.56x | 0.84x | 0.84x | 0.77x | 2.46x | 4.62x |
| Asset Growth % | -109.78% | -37.29% | -35.03% | 4.22% | 85.6% | 357.3% | 99.5% | - |
| Total Current Liabilities | 3.23M | 2.24M | 3.75M | 4.22M | 3.79M | 2.16M | 1.44M | 1.62M |
| Accounts Payable | 1.51M | 1.11M | 2.22M | 2.4M | 2.07M | 1.2M | 799.28K | 863.64K |
| Days Payables Outstanding | 38.77 | 30 | 53.4 | 29.03 | 35.35 | 46.15 | 46.39 | 49.6 |
| Short-Term Debt | 457.3K | 19.5K | 0 | 0 | 0 | 0 | 27.85K | 0 |
| Deferred Revenue (Current) | 12.5K | 0 | 80K | 44.2K | 5.3K | 14.1K | 6.78K | 71.5K |
| Other Current Liabilities | 1.27M | 1.11M | 213.55K | 192.89K | 906.79K | 75K | -27.85K | 158.53K |
| Current Ratio | 2.97x | 2.18x | 2.78x | 6.32x | 7.88x | 6.07x | 1.27x | 0.58x |
| Quick Ratio | 2.18x | 1.07x | 2.11x | 5.16x | 6.83x | 5.23x | 0.62x | 0.14x |
| Cash Conversion Cycle | 55.9 | 50.17 | - | 30.96 | 33.4 | 29.77 | 8.18 | - |
| Total Non-Current Liabilities | 2.74M | 522.04K | 2.92M | 3.58M | 1.42M | 1.74M | 1.52M | 525.5K |
| Long-Term Debt | 2.24M | 499.9K | 499.9K | 499.9K | 499.9K | 499.9K | 499.9K | 525.5K |
| Capital Lease Obligations | 79.46K | 22.14K | 2.42M | 3.08M | 919.63K | 1.24M | 1.02M | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 499.9K | 0 | 1 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 5.97M | 2.77M | 6.67M | 7.8M | 5.21M | 3.9M | 2.96M | 2.14M |
| Total Debt | 2.69M | 541.54K | 3.58M | 4.28M | 1.9M | 2.11M | 1.84M | 971.26K |
| Net Debt | -2.76M | -890.03K | -3.91M | -12.22M | -21.6M | -4.86M | 947.07K | 755.69K |
| Debt / Equity | 0.16x | 0.04x | 0.19x | 0.13x | 0.06x | 0.13x | 1.19x | 8.40x |
| Debt / EBITDA | -0.39x | - | - | - | - | - | 2.10x | - |
| Net Debt / EBITDA | 0.39x | - | - | - | - | - | 1.08x | - |
| Interest Coverage | -162.38x | -104.96x | -61.94x | -43.23x | -34.29x | -6.40x | 7.56x | -0.97x |
| Total Equity | 17.25M | 13.47M | 19.22M | 32.05M | 33.02M | 16.7M | 1.55M | 115.61K |
| Equity Growth % | -91.82% | -29.92% | -40.04% | -2.94% | 97.73% | 978.21% | 1239.75% | - |
| Book Value per Share | 106.52 | 253.19 | 708.74 | 124.56 | 160.23 | 88.27 | 7.69 | 0.57 |
| Total Shareholders' Equity | 17.25M | 13.47M | 19.22M | 23.51M | 28.44M | 16.7M | 1.55M | 115.61K |
| Common Stock | 529 | 2.24K | 14.87K | 9.52K | 9.52K | 7K | 4K | 4K |
| Retained Earnings | -36.09M | -34M | -25.39M | -14.35M | -7.15M | -2.02M | -1.01M | -2.18M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 8.54M | 4.59M | 0 | 0 | 0 |
Imminent liquidity depletion risk
As reported in recent financial filings, Twin Vee's total assets have contracted significantly from $39.8 million in 2023Q4 to $16.2 million by 2025Q4, signaling a rapid depletion of the company's resource base as it struggles to fund ongoing operations and sustain its capital-intensive electric boat initiatives.
The consistent decline in total assets suggests that the company is consuming its balance sheet to cover persistent operating losses rather than reinvesting for growth. This trajectory implies that the firm's ability to support future production cycles is diminishing, warranting significant concern regarding its long-term operational viability.
Based on the company's latest quarterly data, cash reserves have plummeted from a peak of $16.5 million in 2023Q4 to just $1.4 million in 2025Q4, representing a precarious liquidity position that leaves the firm with minimal buffer against further operational shocks or sustained negative cash flow.
The sharp decline in cash, coupled with a current ratio that has fluctuated significantly, suggests that the company may soon face a liquidity crisis. Investors should monitor whether the current cash balance is sufficient to meet near-term obligations without requiring dilutive financing or further asset liquidation.
According to reported balance sheet figures, retained earnings have deteriorated to a deficit of $34.0 million as of 2025Q4, reflecting the cumulative impact of sustained net losses that continue to erode the company's total equity base and shareholder value over the observed ten-quarter period.
The persistent growth of the deficit in retained earnings indicates that the company has failed to achieve a profitable business model, effectively consuming shareholder capital to sustain its current scale. This trend suggests that the equity base is increasingly fragile and susceptible to further impairment should losses continue at the current pace.
While the company maintains a low debt-to-equity ratio of 0.04 as of 2025Q4, this headline metric masks the underlying reality that the firm's primary assets are increasingly tied to non-liquid manufacturing infrastructure rather than cash, creating a potential trap for investors focused solely on leverage ratios.
The reliance on PPE as the primary component of total assets, while cash reserves dwindle, suggests that the company's balance sheet is becoming increasingly illiquid. This composition implies that the firm may struggle to pivot or exit its current strategy without incurring significant losses on the sale of specialized manufacturing assets.
Quick answers to the most common questions about buying VEEE stock.
As of 2025, Twin Vee Powercats Co. (VEEE) had total assets of $16.2M including $4.9M in current assets.
Twin Vee Powercats Co. (VEEE) carries total debt of $0.5M, offset by $1.4M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Twin Vee Powercats Co. (VEEE) has total shareholders' equity (book value) of $13.5M ($253.19 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Twin Vee Powercats Co. (VEEE) reported a current ratio of 2.18x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.