The balance sheet is heavily distorted by $41.1M in goodwill, which represents nearly 46% of the company's $90.3M total asset base, raising concerns regarding the quality of its capital structure.
| Total Current Assets | 44.97M | 83.84M | 66.25M | 39.61M | 30.2M | 15.43M | 10.57M | 11.47M |
| Cash & Short-Term Investments | 698.24K | 3.68M | 3.85M | 5.75M | 2.11M | 223.51K | 648.1K | 352.75K |
| Cash Only | 698.24K | 3.68M | 5.69M | 5.75M | 2.11M | 223.51K | 648.1K | 352.75K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 31.8M | 62.9M | 45.11M | 4.76M | 17.53M | 13.27M | 7.89M | 9.51M |
| Days Sales Outstanding | 287.1 | 257.97 | 259.24 | 100.14 | 340.51 | 164.67 | 104.13 | 168.46 |
| Inventory | 0 | 71.31K | 1.11M | 184K | 370.85K | 104.79K | 4.02K | 173.51K |
| Days Inventory Outstanding | - | 0.3 | 3.87 | 4.35 | 8.45 | 1.51 | 0.07 | 3.77 |
| Other Current Assets | 0 | -71.31K | 9.14M | 23.44M | 9.13M | -104.79K | 160.21K | 0 |
| Total Non-Current Assets | 45.36M | 43.51M | 45.21M | 36.75M | 3.74M | 4.96M | 5.32M | 5.83M |
| Property, Plant & Equipment | 729.15K | 1.46M | 9.07M | 12.22M | 3.45M | 4.6M | 4.99M | 5.43M |
| Fixed Asset Turnover | 55.45x | 60.84x | 7.00x | 1.42x | 5.45x | 6.40x | 5.54x | 3.80x |
| Goodwill | 41.11M | 41.11M | 33.24M | 14.16M | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 501.15K | 847.09K | 847.09K | 847.09K | 847.09K | 847.09K | 847.09K | 5.51M |
| Other Non-Current Assets | 2.9M | -12.78K | 1.81M | 9.48M | 261.99K | 344.97K | 304.61K | 367.6K |
| Total Assets | 90.33M | 127.35M | 111.46M | 82.35M | 33.94M | 20.39M | 15.88M | 17.3M |
| Asset Turnover | 0.45x | 0.70x | 0.57x | 0.21x | 0.55x | 1.44x | 1.74x | 1.19x |
| Asset Growth % | -29.07% | 14.26% | 35.35% | 142.63% | 66.49% | 28.35% | -8.17% | - |
| Total Current Liabilities | 44.98M | 82.68M | 47.79M | 34.3M | 12.5M | 9.84M | 5.52M | 11.62M |
| Accounts Payable | 4.55M | 18.43M | 6.93M | 1.34M | 1.42M | 1.57M | 845.09K | 1.71M |
| Days Payables Outstanding | 41.87 | 78.29 | 24.15 | 31.81 | 32.27 | 22.54 | 13.77 | 37.12 |
| Short-Term Debt | 3.12M | 20.26M | 9.94M | 7.99M | 6.79M | 3.99M | 1.39M | 3.84M |
| Deferred Revenue (Current) | 0 | 0 | 3.15M | 153.4K | 0 | 125.74K | 50.66K | 19.69K |
| Other Current Liabilities | 0 | 34.86M | 23.73M | 22.01M | 3.95M | 832.5K | 549.17K | 3.36M |
| Current Ratio | 1.00x | 1.01x | 1.39x | 1.15x | 2.42x | 1.57x | 1.92x | 0.99x |
| Quick Ratio | 1.00x | 1.01x | 1.36x | 1.15x | 2.39x | 1.56x | 1.91x | 0.97x |
| Cash Conversion Cycle | - | 179.98 | 238.96 | 72.68 | 316.7 | 143.65 | 90.43 | 135.11 |
| Total Non-Current Liabilities | 594.72K | 121.09K | 1.41M | 380.05K | 164.39K | 517.87K | 1.86M | 638.46K |
| Long-Term Debt | 594.72K | 121.09K | 253.35K | 179.34K | 136.4K | 355.93K | 1.13M | 0 |
| Capital Lease Obligations | 0 | 0 | 1.16M | 200.71K | 27.99K | 161.94K | 726.65K | 638.46K |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 1.16M | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 45.58M | 82.8M | 63.35M | 34.68M | 12.67M | 10.36M | 7.38M | 12.26M |
| Total Debt | 3.71M | 20.39M | 11.41M | 10.64M | 7M | 5.22M | 3.99M | 5.63M |
| Net Debt | 3.01M | 16.71M | 7.09M | 4.89M | 4.9M | 5M | 3.34M | 5.27M |
| Debt / Equity | 0.08x | 0.46x | 0.24x | 0.22x | 0.33x | 0.52x | 0.47x | 1.12x |
| Debt / EBITDA | - | 11.80x | 5.45x | 11.19x | 2.39x | 1.29x | 0.74x | 1.58x |
| Net Debt / EBITDA | - | 9.67x | 3.39x | 5.14x | 1.67x | 1.24x | 0.62x | 1.48x |
| Interest Coverage | -10.93x | 1.89x | -0.13x | -1.23x | 3.77x | 7.22x | 11.35x | 7.99x |
| Total Equity | 44.75M | 44.56M | 48.1M | 47.67M | 21.27M | 10.03M | 8.51M | 5.04M |
| Equity Growth % | 0.44% | -7.37% | 0.91% | 124.07% | 112.18% | 17.89% | 68.73% | - |
| Book Value per Share | 8.29 | 13.87 | 2.24 | 2.50 | 2.21 | 0.81 | 0.71 | 0.42 |
| Total Shareholders' Equity | 44.75M | 44.56M | 48.1M | 47.67M | 21.27M | 10.03M | 8.51M | 5.04M |
| Common Stock | 53.43K | 27.53K | 22.96K | 19.13K | 12.35K | 9K | 9.25K | 9.25K |
| Retained Earnings | -1.29M | 4.9M | 7.7M | 5.93M | 6.91M | 6.24M | 4.82M | 2.25M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.03M | -746.24K | -512.97K | 775.77K | 1.38M | 508.25K | 406.84K | 540.01K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Severe liquidity and solvency risk
According to recent financial filings, YGMZ's total assets have declined from $127.4M in 2023Q4 to $90.3M by 2024Q4, signaling a rapid contraction in the company's resource base that mirrors the broader deterioration of its operational footprint within the competitive Shenzhen logistics market.
The consistent decline in asset value suggests that the company is struggling to maintain its scale in a high-cost environment. This downward trajectory warrants further investigation into whether the firm is liquidating assets to fund ongoing operational deficits.
Based on the reported figures, YGMZ's cash reserves have plummeted to just $698,239 as of 2024Q4, a precarious level that provides minimal buffer against the company's persistent operating losses and suggests an immediate risk to its ability to meet short-term obligations.
With a current ratio hovering at 1.00, the company lacks the liquidity cushion necessary to absorb even minor operational shocks. Investors should monitor the potential for emergency financing, as the current cash position appears insufficient to sustain the business through another cycle of negative cash flow.
As reported in financial statements, goodwill accounts for $41.1M of the company's $90.3M total assets, indicating that a significant portion of the balance sheet is comprised of intangible value rather than productive, revenue-generating property, plant, and equipment.
The reliance on goodwill as a primary asset component suggests that the company's book value may be significantly overstated relative to its tangible operational capacity. This concentration of intangibles poses a substantial risk of future impairment charges should the company's market position continue to erode.
Data from the balance sheet reveals that while the debt-to-equity ratio appears low at 0.08, this metric is potentially misleading because it ignores the fact that nearly half of the company's equity is supported by non-cash goodwill rather than tangible capital.
The apparent financial health suggested by low leverage is likely a facade, as the company's actual ability to cover liabilities is constrained by the lack of liquid, tangible assets. This structural distortion suggests that the balance sheet is far more vulnerable than headline leverage ratios might imply.
Quick answers to the most common questions about buying YGMZ stock.
As of 2024, MingZhu Logistics Holdings Limited (YGMZ) had total assets of $90.3M including $45.0M in current assets.
MingZhu Logistics Holdings Limited (YGMZ) carries total debt of $3.7M, offset by $0.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
MingZhu Logistics Holdings Limited (YGMZ) has total shareholders' equity (book value) of $44.8M ($8.29 book value per share). Book value represents the net worth of the company belonging to common stock holders.
MingZhu Logistics Holdings Limited (YGMZ) reported a current ratio of 1.00x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.