The company's financial position has deteriorated significantly, with total debt rising from zero in 2022Q4 to $18.9 million in 2025Q4, causing the current ratio to compress to 1.86.
| Total Current Assets | 44.14M | 42.82M | 31.12M | 18.9M | 19.42M | 18.16M | 17.7M | 15.61M |
| Cash & Short-Term Investments | 29.63M | 26.76M | 16.7M | 7.07M | 5.73M | 2.84M | 3.34M | 2.45M |
| Cash Only | 7.46M | 8.14M | 6.93M | 4.79M | 3.67M | 1.66M | 1.94M | 853.3K |
| Short-Term Investments | 22.17M | 18.62M | 9.77M | 2.28M | 2.05M | 1.18M | 1.4M | 1.6M |
| Accounts Receivable | 6.8M | 8.78M | 8.5M | 4.25M | 5.98M | 7.86M | 8.63M | 6.34M |
| Days Sales Outstanding | 120.02 | 136.29 | 156.53 | 80.87 | 105.11 | 177.19 | 154.59 | 110.7 |
| Inventory | 4.92M | 7.12M | 5.86M | 6.88M | 7.04M | 7.25M | 5.74M | 6.06M |
| Days Inventory Outstanding | 122.72 | 185.58 | 163.98 | 193.31 | 178.44 | 247.51 | 162.85 | 166.91 |
| Other Current Assets | 153.75K | 0 | 60K | 544.9K | 523.47K | -83.47K | 333.06K | 745.95K |
| Total Non-Current Assets | 9.23M | 2.98M | 1.79M | 2.04M | 2.48M | 2.66M | 2.66M | 3.07M |
| Property, Plant & Equipment | 7.98M | 1.72M | 1.48M | 1.63M | 2.11M | 2.31M | 2.38M | 2.74M |
| Fixed Asset Turnover | 2.59x | 13.69x | 13.39x | 11.79x | 9.83x | 7.02x | 8.57x | 7.62x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 1.1M | 1.15M | 154.36K | 163.21K | 185.1K | 180.89K | 177.29K | 189.34K |
| Long-Term Investments | 0 | 0 | -152.47K | -245 | 0 | -366.43K | -177 | 0 |
| Other Non-Current Assets | 0 | 0 | 152.47K | 245 | 0 | 366.43K | 15.53K | 140.16K |
| Total Assets | 53.37M | 45.8M | 32.9M | 20.94M | 21.9M | 20.82M | 20.36M | 18.68M |
| Asset Turnover | 0.39x | 0.51x | 0.60x | 0.92x | 0.95x | 0.78x | 1.00x | 1.12x |
| Asset Growth % | 16.52% | 39.2% | 57.14% | -4.39% | 5.22% | 2.23% | 9.01% | - |
| Total Current Liabilities | 23.8M | 17.15M | 8.92M | 5.7M | 7.87M | 10.01M | 9.66M | 9.68M |
| Accounts Payable | 3.26M | 3.01M | 3.39M | 4.11M | 5.35M | 5.43M | 4.76M | 7.75M |
| Days Payables Outstanding | 81.18 | 78.54 | 94.94 | 115.57 | 135.61 | 185.45 | 135.18 | 213.31 |
| Short-Term Debt | 18.84M | 11.32M | 4.11M | 0 | 0 | 2.65M | 2.87M | 712.53K |
| Deferred Revenue (Current) | 611.23K | 797.08K | 829.22K | 830.3K | 1.68M | 975.65K | 1.02M | 0 |
| Other Current Liabilities | 388.04K | 0 | 272.55K | 366.16K | 0 | 306.28K | 1.56M | 669.25K |
| Current Ratio | 1.86x | 2.50x | 3.49x | 3.31x | 2.47x | 1.81x | 1.83x | 1.61x |
| Quick Ratio | 1.65x | 2.08x | 2.83x | 2.11x | 1.57x | 1.09x | 1.24x | 0.99x |
| Cash Conversion Cycle | 161.56 | 243.33 | 225.57 | 158.62 | 147.95 | 239.25 | 182.26 | 64.3 |
| Total Non-Current Liabilities | 0 | 96.17K | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 0 | 96.17K | 0 | 0 | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 23.8M | 17.25M | 8.92M | 5.7M | 7.87M | 10.01M | 9.66M | 9.68M |
| Total Debt | 18.91M | 11.6M | 4.11M | 0 | 0 | 2.65M | 2.87M | 712.53K |
| Net Debt | 11.45M | 3.47M | -2.82M | -4.79M | -3.67M | 983.72K | 929.86K | -140.77K |
| Debt / Equity | 0.64x | 0.41x | 0.17x | - | - | 0.25x | 0.27x | 0.08x |
| Debt / EBITDA | 20.27x | 2.91x | 1.33x | - | - | 0.99x | 0.60x | 0.16x |
| Net Debt / EBITDA | 12.27x | 0.87x | -0.91x | -1.93x | -1.24x | 0.37x | 0.20x | -0.03x |
| Interest Coverage | - | - | - | - | 304.45x | 21.93x | 192.76x | - |
| Total Equity | 29.57M | 28.55M | 23.98M | 15.24M | 14.03M | 10.8M | 10.71M | 9M |
| Equity Growth % | 3.57% | 19.07% | 57.39% | 8.6% | 29.87% | 0.91% | 18.93% | - |
| Book Value per Share | 3.78 | 3.65 | 3.30 | 2.26 | 1.05 | 0.54 | 0.54 | 0.45 |
| Total Shareholders' Equity | 29.64M | 28.82M | 23.98M | 15.24M | 14.03M | 10.8M | 10.71M | 9M |
| Common Stock | 7.83K | 7.83K | 7.8K | 6.75K | 6.75K | 6.75K | 20K | 20K |
| Retained Earnings | 20.94M | 20.02M | 16.93M | 14.41M | 11.89M | 9.6M | 8.52M | 4.87M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 1.94M | 2.04M | 606.52K | 740.29K | 2.06M | 1.11M | 43.2K | 461.44K |
| Minority Interest | -66.25K | -262.72K | 0 | 0 | 0 | 0 | 0 | 0 |
Rising leverage and liquidity
As reported in recent financial statements, ZJYL's total liabilities have surged from $5.7 million in 2022Q4 to $23.8 million by 2025Q4, signaling a significant weakening in the company's financial position as debt accumulation outpaces the growth of its underlying asset base.
The rapid expansion of liabilities relative to equity suggests that the company is increasingly relying on external financing to sustain operations during a period of revenue contraction. This trajectory warrants caution, as the shift from a debt-free status in 2022 to a D/E ratio of 0.64 indicates a fundamental change in the company's risk profile.
Based on the latest quarterly data, ZJYL's total debt has climbed to $18.9 million in 2025Q4, a stark contrast to the zero-debt position held as recently as 2022Q4, which implies that management is increasingly utilizing debt to bridge operational cash flow gaps.
The transition toward higher leverage appears to be a necessity-driven response to declining operational performance rather than a strategic move to optimize capital structure. Investors should monitor whether this debt burden becomes unsustainable if the company's narrow operating margins continue to face pressure from commodity price volatility.
According to the provided balance sheet figures, ZJYL's net PPE has increased from $1.6 million in 2023Q4 to $8.0 million in 2025Q4, suggesting a significant capital investment phase that has yet to translate into improved revenue or operational efficiency for the firm.
The sharp rise in PPE, coupled with stagnant or declining revenue, may indicate that the company is over-investing in manufacturing capacity that is currently underutilized. This asset-heavy shift increases the company's fixed cost burden, which could further compress margins if demand in the Japanese export market remains soft.
As evidenced by the company's financial filings, the current ratio has compressed from a peak of 3.89 in 2023Q2 to 1.86 in 2025Q4, reflecting a tightening liquidity position that limits the firm's ability to absorb unexpected shocks or operational disruptions.
While a current ratio of 1.86 remains technically adequate, the downward trend is concerning given the company's reliance on transactional, non-recurring revenue. The reduction in cash reserves relative to rising debt levels suggests that the company's margin of safety is narrowing significantly.
Based on the provided data, the $1.1 million in goodwill recorded in 2025Q4, up from $154.4K in 2023Q4, suggests potential acquisition-related risks that may mask underlying operational weaknesses or overpayment for assets that are not yet contributing to core profitability.
The accumulation of goodwill during a period of revenue decline warrants further investigation into the nature of these acquisitions and their strategic fit. If these assets fail to generate expected returns, the company may face future impairment charges that would further erode its already strained equity base.
Quick answers to the most common questions about buying ZJYL stock.
As of 2025, Jin Medical International Ltd. (ZJYL) had total assets of $53.4M including $44.1M in current assets.
Jin Medical International Ltd. (ZJYL) carries total debt of $18.9M, offset by $29.6M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Jin Medical International Ltd. (ZJYL) has total shareholders' equity (book value) of $29.6M ($3.78 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Jin Medical International Ltd. (ZJYL) reported a current ratio of 1.86x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.