Wetouch maintains an exceptionally conservative capital structure with a current ratio of 32.24 and negligible debt, though this reflects an inefficient use of capital with cash representing over 80% of total assets.
| Total Current Assets | 132.72M | 126.1M | 114.14M | 106.78M | 62.18M | 56.85M | 36.6M | 30.89M |
| Cash & Short-Term Investments | - | - | - | - | - | - | - | - |
| Cash Only | 120.52M | 118.36M | 103.76M | 98.04M | 51.25M | 46.16M | 23.96M | 14.28M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | - | - | - | - | - | - | - | - |
| Days Sales Outstanding | - | - | - | - | - | - | - | - |
| Inventory | 29.06K | 48.84K | 112.33K | 222.1K | 423.28K | 244.38K | 402.05K | 203.78K |
| Days Inventory Outstanding | 0.78 | 0.58 | 1.43 | 3.6 | 6.47 | 3.99 | 9.33 | 3.49 |
| Other Current Assets | 338 | 56.2K | 210 | 991.52K | 81.61K | 1.47M | 305.06K | 71.88K |
| Total Non-Current Assets | 14.57M | 14.66M | 13.88M | 12.86M | 10.92M | 11.83M | 10.47M | 10.86M |
| Property, Plant & Equipment | 9.38M | 9.41M | 13.84M | 12.86M | 10.92M | 11.83M | 9.49M | 9.87M |
| Fixed Asset Turnover | 4.02x | 4.80x | 3.06x | 3.09x | 3.47x | 3.45x | 3.30x | 4.05x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 542.91K | 0 | 0 | 0 | 0 | 0 | 974.7K | 989.05K |
| Long-Term Investments | 0 | - | - | - | - | - | - | - |
| Other Non-Current Assets | - | - | - | - | - | - | - | - |
| Total Assets | 147.29M | 140.77M | 128.02M | 119.64M | 73.11M | 68.68M | 47.06M | 41.74M |
| Asset Turnover | 0.33x | 0.32x | 0.33x | 0.33x | 0.52x | 0.59x | 0.67x | 0.96x |
| Asset Growth % | 34.17% | 9.96% | 7% | 63.66% | 6.45% | 45.93% | 12.74% | - |
| Total Current Liabilities | 4.12M | 3.24M | 2.95M | 6.34M | 4.01M | 3.24M | 2.28M | 9.44M |
| Accounts Payable | 937.34K | 1.06M | 1.26M | 640.79K | 1.38M | 800.59K | 891.85K | 795.48K |
| Days Payables Outstanding | 13.79 | 12.62 | 16.09 | 10.39 | 21.15 | 13.07 | 20.69 | 13.63 |
| Short-Term Debt | - | - | - | - | - | - | - | - |
| Deferred Revenue (Current) | 0 | - | - | - | - | - | - | - |
| Other Current Liabilities | -370.69B | 1.58M | 580.49K | 373.77K | 233.16K | 124.81K | 917.22K | 28.32K |
| Current Ratio | 32.24x | 38.88x | 38.68x | 16.84x | 15.49x | 17.54x | 16.07x | 3.27x |
| Quick Ratio | 32.23x | 38.86x | 38.64x | 16.80x | 15.38x | 17.46x | 15.90x | 3.25x |
| Cash Conversion Cycle | -13.01 | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 92.67K | 130.36K | 482.61K | 378.37K | 256.96K | 1.13M | 433.21K | 635.85K |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | - | - | - | - | - | - | - |
| Deferred Tax Liabilities | 0 | - | - | - | - | - | - | - |
| Other Non-Current Liabilities | - | - | - | - | - | - | - | - |
| Total Liabilities | 4.21M | 3.37M | 3.43M | 6.72M | 4.27M | 4.37M | 2.71M | 9.44M |
| Total Debt | 370.69K | 521.45K | 1.05M | 1.71M | 1.66M | 2.03M | 0 | 430.92K |
| Net Debt | -120.15M | -117.84M | -102.71M | -96.33M | -49.59M | -44.13M | -23.96M | -13.85M |
| Debt / Equity | 0.00x | 0.00x | 0.01x | 0.02x | 0.02x | 0.03x | - | 0.01x |
| Debt / EBITDA | 0.03x | 0.05x | 0.11x | 0.13x | 0.15x | 0.16x | - | 0.02x |
| Net Debt / EBITDA | -10.26x | -11.13x | -11.01x | -7.61x | -4.34x | -3.39x | -1.85x | -0.77x |
| Interest Coverage | - | - | 8.43x | 49.93x | 54.73x | 795.01x | 6.87x | 1006.93x |
| Total Equity | 143.17M | 137.39M | 124.59M | 112.92M | 68.83M | 64.31M | 44.35M | 31.67M |
| Equity Growth % | 34.26% | 10.28% | 10.33% | 64.05% | 7.04% | 44.99% | 40.06% | - |
| Book Value per Share | 12.00 | 11.51 | 10.67 | 12.04 | 37.33 | 39.39 | 30.60 | 21.85 |
| Total Shareholders' Equity | 143.17M | 137.39M | 124.59M | 112.92M | 68.83M | 64.31M | 44.35M | 31.67M |
| Common Stock | 11.93K | 11.93K | 11.93K | 9.73K | 1.68K | 31.81K | 31.5K | 28K |
| Retained Earnings | 85.66M | 81.79M | 74.63M | 76.67M | 68.41M | 54.61M | 39.23M | 33.36M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 5M | 3.09M | -2.56M | -7.28M | -2.98M | 7.33M | 4.02M | -1.73M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Excessive idle cash accumulation
As reported in recent financial filings, Wetouch Technology's total assets have grown from $119.6 million in 2023Q4 to $147.3 million in 2026Q1, yet this expansion appears primarily driven by cash accumulation rather than productive investment in operational capacity or long-term revenue-generating assets.
The trajectory of the balance sheet suggests a company that is effectively hoarding liquidity rather than scaling its industrial footprint. Investors should monitor whether this asset growth reflects a deliberate defensive posture or an inability to identify high-return capital projects within the competitive PCAP touchscreen market.
Based on the company's reported figures, Wetouch maintains a current ratio of 32.24 as of 2026Q1, an exceptionally high level that indicates a massive cash buffer relative to current liabilities, which may suggest an inefficient use of working capital in the current interest rate environment.
While such a high current ratio provides an impenetrable buffer against short-term shocks, it also raises questions regarding the opportunity cost of holding $120.5 million in cash. This liquidity profile appears to be a structural feature of the firm's conservative financial management rather than a temporary byproduct of seasonal operations.
According to the latest balance sheet data, equity has steadily climbed to $143.2 million, with retained earnings of $85.7 million serving as the primary engine for this growth, reflecting a history of profitable operations that have not been aggressively distributed to shareholders or reinvested into the business.
The reliance on retained earnings to bolster equity highlights the company's internal profitability, yet the lack of significant share buybacks or dividends suggests a disconnect between earnings generation and shareholder value realization. This accumulation of equity may eventually invite scrutiny regarding the firm's long-term capital allocation strategy.
As indicated by the company's reported figures, the cash balance of $120.5 million represents over 80% of total assets, a concentration that warrants further investigation into whether this capital is truly available for strategic deployment or if it is restricted by operational or regulatory requirements.
The sheer scale of cash relative to the company's $45.1 million in annual revenue suggests that the market may be mispricing the firm by treating it as a standard industrial manufacturer rather than a cash-heavy entity. This distortion makes traditional valuation metrics potentially misleading, as the core business performance is obscured by the massive, idle liquid balance.
Quick answers to the most common questions about buying WETH stock.
As of 2025, Wetouch Technology Inc. (WETH) had total assets of $140.8M including $126.1M in current assets.
Wetouch Technology Inc. (WETH) carries total debt of $0.5M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Wetouch Technology Inc. (WETH) has total shareholders' equity (book value) of $137.4M ($11.51 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Wetouch Technology Inc. (WETH) reported a current ratio of 38.88x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.