The company's financial position is highly precarious, evidenced by a negative equity base of $37.9 million and a current ratio of only 0.30.
VivoPower PLC (VIVO) balance sheet — 11-year assets, liabilities & shareholders' equity history
| Metric | TTM | Jun'26 | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Mar'19 | Mar'18 | Mar'17 | Mar'16 |
|---|
| Total Current Assets | 74.57M | 77.47M | 74.57M | 17.66M | 10.36M | 21.16M | 23.99M | 20.47M | 29.77M | 21.28M | 30.81M | 28K |
| Cash & Short-Term Investments | 251K | 2.02M | 251K | 199K | 553K | 1.28M | 8.6M | 2.82M | 4.52M | 1.94M | 10.97M | 28K |
| Cash Only | 251K | 2.02M | 251K | 199K | 600K | 1.28M | 8.6M | 2.82M | 4.52M | 1.94M | 10.97M | 28K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 70.96M | 74.4M | 70.96M | 9.96M | 6.74M | 8.25M | 9.88M | 12.12M | 9.77M | 7.51M | 19.84M | 0 |
| Days Sales Outstanding | - | 10.67K | 424.58K | 227.33K | 607.04 | 134.13 | 150.34 | 90.85 | 91.36 | 81.49 | 224.57 | - |
| Inventory | 1.15M | 986K | 1.15M | 1.65M | 2.12M | 1.44M | 1.54M | 1.01M | 0 | 0 | -563K | 0 |
| Days Inventory Outstanding | 1.13K | 186.09 | 740.94 | -22.25K | 44.57 | 23.61 | 28.6 | 9.04 | - | - | - | - |
| Other Current Assets | 5K | 66K | 5K | 5.77M | 674K | 10.2M | 1.14M | 4.51M | 15.48M | 11.83M | 563K | 0 |
| Total Non-Current Assets | 22.56M | 78.95M | 22.56M | 19.77M | 51.1M | 48.49M | 52.52M | 41.91M | 35.63M | 55.03M | 69.24M | 7.88M |
| Property, Plant & Equipment | 1.46M | 16.45M | 1.46M | 439K | 3.74M | 3.74M | 2.58M | 2.49M | 1.21M | 1.92M | 2.16M | 3K |
| Fixed Asset Turnover | 0.00x | 0.15x | 0.04x | 0.04x | 1.08x | 6.00x | 9.31x | 19.59x | 32.40x | 17.57x | 14.91x | - |
| Goodwill | 1.79M | 0 | 1.79M | 1.64M | 17.7M | 18.27M | 25.79M | 21.92M | 22.62M | 24.48M | 30.39M | 0 |
| Intangible Assets | 14.91M | 54.01M | 14.91M | 13.6M | 24.48M | 21.81M | 21.66M | 7.93M | 9.74M | 11.92M | 15.93M | 0 |
| Long-Term Investments | 68K | 8.5M | 0 | 0 | 66K | 43.32M | 0 | 8.22M | 34.71M | 14.15M | 18.06M | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | -19K | -43.32M | 0 | 0 | -34.71M | 0 | 1.17M | 7.88M |
| Total Assets | 97.13M | 156.43M | 97.13M | 37.43M | 61.4M | 69.66M | 76.51M | 62.38M | 65.39M | 76.31M | 100.05M | 7.91M |
| Asset Turnover | 0.00x | 0.02x | 0.00x | 0.00x | 0.07x | 0.32x | 0.31x | 0.78x | 0.60x | 0.44x | 0.32x | - |
| Asset Growth % | 64.35% | 61.05% | 159.47% | -39.03% | -11.85% | -8.96% | 22.65% | -4.61% | -14.31% | -23.73% | - | - |
| Total Current Liabilities | 55.27M | 89.42M | 55.27M | 54.13M | 18.91M | 23.3M | 13.43M | 19.68M | 20.81M | 20.61M | 13.13M | 8.19M |
| Accounts Payable | 10.12M | 54.66M | 10.12M | 10.97M | 7.72M | 5.68M | 4.33M | 4.81M | 5.67M | 5.64M | 2.16M | 185K |
| Days Payables Outstanding | 12.63K | 10.32K | 6.51K | -148.34K | 162.78 | 93.52 | 80.48 | 42.91 | 63.29 | 72.22 | 158.26 | - |
| Short-Term Debt | 12.25M | 12.88M | 12.25M | 8.17M | 1.92M | 4.6M | 1M | 1.31M | 887K | 3.96M | 1.17M | 8M |
| Deferred Revenue (Current) | 189K | 0 | 11K | 10K | 318K | 974K | 1.13M | 6.01M | 4.98M | 1.54M | 305K | 0 |
| Other Current Liabilities | 29.36M | 21.14M | 29.36M | 17.75M | 4.32M | 3.28M | 1.82M | 7.55M | 9.27M | 9.47M | 9.5M | 1K |
| Current Ratio | 1.35x | 0.87x | 1.35x | 0.33x | 0.55x | 0.91x | 1.79x | 1.04x | 1.43x | 1.03x | 2.35x | 0.00x |
| Quick Ratio | 1.33x | 0.86x | 1.33x | 0.30x | 0.44x | 0.85x | 1.67x | 0.99x | 1.43x | 1.03x | 2.39x | 0.00x |
| Cash Conversion Cycle | -11.49K | 540.69 | 418.81K | 353.41K | 488.83 | 64.22 | 98.46 | 56.98 | - | - | - | - |
| Total Non-Current Liabilities | 21.75M | 30.07M | 21.75M | 23.84M | 55.3M | 24.74M | 22.66M | 24.81M | 20.6M | 18.7M | 23.1M | 8.19M |
| Long-Term Debt | 16.8M | 15.86M | 16.8M | 20.91M | 30M | 23.45M | 22.09M | 24.64M | 18.38M | 18.39M | 95K | 0 |
| Capital Lease Obligations | 1.81M | 9.55M | 140K | 0 | 1.84M | 1.96M | 326K | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 11.17M | 0 | 2.57M | 2.87M | 2.23M | 1.23M | 411K | 0 | 1K | 26K | 3.78M | 0 |
| Other Non-Current Liabilities | 2.24M | 4.66M | 2.24M | 57K | 6.52M | 57K | 165K | 169K | 9.06M | 7.56M | 18.99M | 8.19M |
| Total Liabilities | 77.02M | 119.49M | 77.02M | 77.97M | 57.7M | 47.69M | 36.09M | 44.49M | 41.41M | 39.31M | 36.23M | 8.19M |
| Total Debt | 29.19M | 39.03M | 29.19M | 29.09M | 32.4M | 28.56M | 23.09M | 25.95M | 19.27M | 22.34M | 1.26M | 8M |
| Net Debt | 28.94M | 37.01M | 28.94M | 28.89M | 31.8M | 27.28M | 14.49M | 23.13M | 14.74M | 20.4M | -9.71M | 7.97M |
| Debt / Equity | 1.45x | 1.06x | 1.45x | - | 8.65x | 1.30x | 0.57x | 1.45x | 0.80x | 0.60x | 0.02x | - |
| Debt / EBITDA | -1.93x | - | - | - | - | - | - | 12.38x | - | - | 0.07x | - |
| Net Debt / EBITDA | -1.92x | - | - | - | - | - | - | 11.03x | - | - | -0.54x | - |
| Interest Coverage | -3.87x | - | -1.75x | -7.90x | -3.54x | -3.76x | -1.77x | 0.11x | -1.67x | -2.30x | 29.80x | -279.00x |
| Total Equity | 20.1M | 36.93M | 20.1M | -40.54M | 3.75M | 21.97M | 40.42M | 17.89M | 23.98M | 37M | 63.82M | -281K |
| Equity Growth % | -1996.14% | 83.71% | 149.59% | -1182.14% | -82.95% | -45.65% | 125.93% | -25.41% | -35.18% | -42.02% | - | - |
| Book Value per Share | 3.02 | 1.90 | 3.02 | -13.17 | 1.52 | 10.59 | 24.79 | 13.20 | 17.69 | 27.29 | 83.71 | -0.51 |
| Total Shareholders' Equity | 20.1M | 36.93M | 20.1M | -40.54M | 3.75M | 21.97M | 40.42M | 17.71M | 23.98M | 37M | 63.82M | -281K |
| Common Stock | 2.7M | 3.69M | 2.7M | 533K | 308K | 256K | 222K | 163K | 163K | 163K | 163K | 72K |
| Retained Earnings | -155.78M | -208.38M | -155.78M | -142.99M | -96.29M | -71.45M | -51.57M | -40.77M | -34.06M | -22.58M | 5.28M | -281K |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | - | - | - | - |
| Accumulated OCI | -8.48M | 51.12M | -8.48M | -10.03M | -8.63M | -9.42M | -8.65M | -9.3M | -11.89M | 19.2M | 18.16M | -72K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 184K | 0 | 0 | 0 | 0 |
Quick answers to the most common questions about buying VIVO stock.
As of 2026, VivoPower PLC (VIVO) had total assets of $156.4M including $77.5M in current assets.
VivoPower PLC (VIVO) carries total debt of $39.0M, offset by $2.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
VivoPower PLC (VIVO) has total shareholders' equity (book value) of $36.9M ($1.90 book value per share). Book value represents the net worth of the company belonging to common stock holders.
VivoPower PLC (VIVO) reported a current ratio of 0.87x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.
Key Metrics
Top Statement Risk
Imminent insolvency and dilution
Rapid Erosion of Equity Base
As reported in recent financial filings, VivoPower's equity has deteriorated into a negative $37.9 million position as of 2025Q2, marking a severe trajectory of capital depletion that suggests the company's historical asset base is no longer sufficient to cover its mounting liabilities and operational losses.
The consistent decline in equity from positive levels in 2021 indicates that the company has been systematically consuming its capital base to fund ongoing operations. This trajectory suggests that the business model is currently unsustainable without continuous external capital injections, which may further dilute existing shareholders.
Critical Depletion of Cash Reserves
Based on the company's 2025Q2 balance sheet, cash and equivalents have plummeted to a nominal $26,000, a figure that, when compared to historical levels of $17.4 million in 2021, highlights an extremely precarious liquidity position that leaves virtually no buffer against operational shocks.
A current ratio of 0.30 confirms that the company lacks the liquid assets necessary to meet its short-term obligations. This liquidity profile suggests that the firm is likely operating on a day-to-day basis, necessitating immediate financing to avoid a potential default on its liabilities.
Leverage Burden Amidst Revenue Stagnation
According to the latest quarterly data, VivoPower maintains $29.0 million in total debt, which, in the context of negligible revenue, indicates that the company's leverage is a significant burden that likely restricts its ability to pivot or invest in new growth initiatives.
The presence of substantial debt on a balance sheet with negative equity and minimal cash flow suggests that the company is highly over-leveraged. Investors should monitor whether this debt structure necessitates a debt-for-equity swap or other restructuring measures to ensure the company's continued existence.
Goodwill Volatility Masks Asset Quality
As indicated by the company's reported figures, goodwill has fluctuated significantly, reaching $15.8 million in 2025Q2, which warrants further investigation as it may represent an overvaluation of intangible assets that are not currently generating the cash flows required to justify their carrying value.
The volatility in goodwill suggests that the company may be subject to future impairment charges, which would further erode the already negative equity position. This accounting treatment appears to obscure the underlying reality that the company's core assets are not performing at levels that support their historical acquisition costs.