The firm maintains a conservative financial posture, supported by a $6 million cash reserve that provides essential liquidity to navigate regional tanker market volatility.
| Metric | Mar'25 | Mar'24 | Mar'23 |
|---|
| Total Current Assets | 10.91M | 21.82M | 24.06M |
| Cash & Short-Term Investments | 5.95M | 16.61M | 19.03M |
| Cash Only | 5.95M | 16.61M | 19.03M |
| Short-Term Investments | 0 | 0 | 0 |
| Accounts Receivable | 3.8M | 4.78M | 4.89M |
| Days Sales Outstanding | 74.39 | 87.26 | 74.44 |
| Inventory | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - |
| Other Current Assets | 715.63K | 213.86K | 0 |
| Total Non-Current Assets | 251.27K | 295.02K | 94.39K |
| Property, Plant & Equipment | 251.27K | 295.02K | 94.39K |
| Fixed Asset Turnover | 74.26x | 67.79x | 254.12x |
| Goodwill | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 |
| Total Assets | 11.16M | 22.11M | 24.16M |
| Asset Turnover | 1.67x | 0.90x | 0.99x |
| Asset Growth % | -49.53% | -8.46% | - |
| Total Current Liabilities | 10.02M | 14.39M | 14.31M |
| Accounts Payable | 46.18K | 200.45K | 28.81K |
| Days Payables Outstanding | 1.68 | 6.93 | 0.69 |
| Short-Term Debt | 0 | 0 | 0 |
| Deferred Revenue (Current) | 378.42K | 225.69K | 0 |
| Other Current Liabilities | 0 | 0 | 0 |
| Current Ratio | 1.09x | 1.52x | 1.68x |
| Quick Ratio | 1.09x | 1.52x | 1.68x |
| Cash Conversion Cycle | - | - | - |
| Total Non-Current Liabilities | 1.5M | 90.09K | 2.29K |
| Long-Term Debt | 0 | 0 | 0 |
| Capital Lease Obligations | 981 | 88.43K | 0 |
| Deferred Tax Liabilities | 1.32K | 1.67K | 2.29K |
| Other Non-Current Liabilities | 1.5M | 0 | 0 |
| Total Liabilities | 11.52M | 14.48M | 14.31M |
| Total Debt | 145.73K | 258.48K | 79.55K |
| Net Debt | -5.8M | -16.35M | -18.95M |
| Debt / Equity | - | 0.03x | 0.01x |
| Debt / EBITDA | 0.03x | 0.04x | 0.01x |
| Net Debt / EBITDA | -1.24x | -2.72x | -2.93x |
| Interest Coverage | 358.07x | 629.95x | 1627.85x |
| Total Equity | -360.2K | 7.63M | 9.85M |
| Equity Growth % | -104.72% | -22.49% | - |
| Book Value per Share | -0.02 | - | - |
| Total Shareholders' Equity | -360.2K | 7.63M | 9.85M |
| Common Stock | 28K | 0 | 0 |
| Retained Earnings | -866K | 7.14M | 9.49M |
| Treasury Stock | 0 | 0 | 0 |
| Accumulated OCI | 477.8K | -285 | 0 |
| Minority Interest | 0 | 0 | 0 |
Regional tanker market volatility
As reported in financial statements, VNTG maintains a conservative balance sheet posture, which appears to be a strategic response to the 6.7% year-over-year revenue decline, signaling that management is prioritizing capital preservation over aggressive expansion within the volatile Singapore and Dubai maritime brokerage corridors.
The firm's trajectory suggests a shift toward a defensive stance, likely intended to insulate the business from cyclical downturns in tanker chartering activity. Investors should monitor whether this capital accumulation reflects a lack of viable reinvestment opportunities or a prudent preparation for potential market consolidation.
Based on reported figures, VNTG holds approximately $6 million in cash, which represents a significant liquidity buffer relative to its operational scale, providing the firm with necessary flexibility to navigate the inherent unpredictability of the regional oil tanker market and potential geopolitical disruptions.
This liquidity position appears to be a core component of the firm's risk management strategy, allowing it to maintain high-touch consultancy services even when transactional brokerage volumes fluctuate. The absence of significant debt obligations further enhances this liquidity profile, suggesting the firm is well-positioned to withstand short-term revenue volatility.
According to the company's operational profile, VNTG utilizes an asset-light business model that minimizes capital intensity, which appears to be a primary driver of the firm's ability to sustain a 20.60% net margin despite the recent contraction in top-line revenue growth.
By avoiding heavy investment in physical maritime infrastructure, the firm maintains a flexible cost structure that can be adjusted in response to changing market conditions. This asset-light approach suggests that the firm's primary value resides in its specialized human capital and proprietary information networks rather than tangible assets.
As indicated by the firm's service-based model, there is a potential for a mismatch between accounting revenue and actual cash availability, as commissions may be booked upon contract fixture rather than voyage completion, which warrants further investigation into the quality of the firm's reported earnings.
The reliance on high-margin consultancy and brokerage fees may mask underlying volatility if pass-through costs or deferred broker bonuses are not clearly delineated in the financial disclosures. Investors should remain cautious regarding the timing of these cash flows, as they may not perfectly align with the firm's reported profitability metrics.
Quick answers to the most common questions about buying VNTG stock.
As of 2025, Vantage Corp (VNTG) had total assets of $11.2M including $10.9M in current assets.
Vantage Corp (VNTG) carries total debt of $0.1M, offset by $5.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Vantage Corp (VNTG) has total shareholders' equity (book value) of $-0.4M ($-0.02 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Vantage Corp (VNTG) reported a current ratio of 1.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.