The company's equity base is severely eroded by a $140.4 million accumulated deficit in retained earnings, highlighting significant long-term value destruction.
| Total Current Assets | 38.88M | 33.5M | 1.31M | 4.22M | 2.92M | 8.12M | 875.42K | 2.3M | 196.2K |
| Cash & Short-Term Investments | 16.47M | 22.14M | 489.87K | 3.88M | 2.27M | 7.78M | 653.41K | 2.16M | 79.02K |
| Cash Only | 16.47M | 22.14M | 489.87K | 3.88M | 2.27M | 7.78M | 653.41K | 2.16M | 79.02K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 15K | 17.09K | 189.37K | 30.86K | 48.94K | 32.33K | 8.97K | 47.7K | 36.87K |
| Days Sales Outstanding | 19.46 | - | 1.02K | 691.82 | - | - | - | - | - |
| Inventory | 0 | 0 | 269.53K | 38.86K | 548.83K | 246.44K | 170K | 0 | 57.56K |
| Days Inventory Outstanding | 1.17 | - | 1.1K | 1.04K | - | - | - | - | - |
| Other Current Assets | 22.4M | 11.35M | -169.83K | 49.25K | -386.99K | -151.85K | 213.04K | 88.37K | -965 |
| Total Non-Current Assets | 118.21M | 161.46M | 9.46M | 13.15M | 18.93M | 3.65M | 2.49M | 2.07M | 27.91K |
| Property, Plant & Equipment | 6.26M | 4.25M | 808.89K | 125.37K | 3.75M | 2.12M | 2.1M | 2.07M | 27.91K |
| Fixed Asset Turnover | 0.43x | - | 0.08x | 0.13x | - | - | - | - | - |
| Goodwill | 1.53M | 1.54M | 294.94K | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 351K | 408.86K | 8.31M | 12.73M | 13.09M | 1.48M | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 223.8K | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 110.06M | 155.27M | 45.22K | 63.71K | 2.09M | 50.61K | 390.93K | 0 | 0 |
| Total Assets | 157.09M | 194.96M | 10.76M | 17.37M | 21.85M | 11.77M | 3.37M | 4.37M | 224.11K |
| Asset Turnover | 0.02x | - | 0.01x | 0.00x | - | - | - | - | - |
| Asset Growth % | 2595.3% | 1711.27% | -38.02% | -20.5% | 85.69% | 249.55% | -22.98% | 1850.09% | - |
| Total Current Liabilities | 0 | 7.99M | 4.32M | 6.04M | 5.36M | 2.29M | 1.93M | 1.38M | 264.19K |
| Accounts Payable | 0 | 0 | 696.17K | 578.13K | 498.19K | 551.28K | 991.57K | 958.28K | 181.26K |
| Days Payables Outstanding | 449.74 | - | 2.85K | 15.54K | - | - | - | - | - |
| Short-Term Debt | 0 | 0 | 1.44M | 4.08M | 3.94M | 0 | 0 | 0 | 0 |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 0 | 7.99M | 2.18M | 510.77K | 284.03K | 890.89K | 33.79K | 0 | 12.44K |
| Current Ratio | - | 4.19x | 0.30x | 0.70x | 0.54x | 3.55x | 0.45x | 1.68x | 0.74x |
| Quick Ratio | - | 4.19x | 0.24x | 0.69x | 0.44x | 3.44x | 0.37x | 1.68x | 0.52x |
| Cash Conversion Cycle | -429.11 | - | -729.28 | -13.81K | - | - | - | - | - |
| Total Non-Current Liabilities | 0 | 0 | 332.46K | 2.76M | 5.94M | 1.48M | 31.42K | 0 | 181.26K |
| Long-Term Debt | 0 | 0 | 41.7K | 45.37K | 44.3K | 47.33K | 31.42K | 0 | 0 |
| Capital Lease Obligations | 0 | 0 | 0 | 0 | 1.25M | 0 | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | -12.95K | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 0 | 290.77K | 2.72M | 4.65M | 1.43M | 0 | 0 | 0 |
| Total Liabilities | 14.3M | 7.99M | 4.65M | 8.8M | 11.3M | 3.77M | 1.96M | 1.38M | 264.19K |
| Total Debt | 0 | 0 | 1.48M | 4.13M | 5.51M | 47.33K | 31.42K | 0 | 0 |
| Net Debt | -16.47M | -22.14M | 995.04K | 251.43K | 3.24M | -7.73M | -621.99K | -2.16M | -79.02K |
| Debt / Equity | 0.00x | - | 0.24x | 0.48x | 0.52x | 0.01x | 0.02x | - | - |
| Debt / EBITDA | -0.00x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 0.23x | - | - | - | - | - | - | - | - |
| Interest Coverage | 0.83x | - | -4.46x | -0.47x | -2.79x | -12.74x | - | - | - |
| Total Equity | 142.79M | 186.98M | 6.11M | 8.56M | 10.54M | 8M | 1.4M | 2.99M | -40.08K |
| Equity Growth % | 5106.16% | 2959.53% | -28.64% | -18.76% | 31.78% | 470.02% | -53.13% | 7571.07% | - |
| Book Value per Share | 1.46 | 11.23 | 15.00 | 738.01 | 2915.56 | 2635.95 | 483.29 | 1031.23 | -124.23 |
| Total Shareholders' Equity | 142.79M | 186.98M | 6.11M | 8.56M | 10.54M | 8M | 1.4M | 2.99M | -40.08K |
| Common Stock | 283.31M | 283.3M | 65.04M | 49.83M | 27.14M | 25.64M | 5.7M | 3.73M | 2.37M |
| Retained Earnings | -140.37M | -93.98M | -60.78M | -44.51M | -32.77M | -19.9M | -12.52M | -8.35M | -2.74M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -1.12M | -1.12M | -1.16M | -229.5K | -642.71K | -33.09K | 213.94K | 164.91K | 10.9K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Capital depletion and insolvency
As reported in financial statements, AgriFORCE's total assets surged to $157.1 million in 2026Q1 from $10.8 million in 2024Q4, yet this growth appears disconnected from operational performance, as the company simultaneously reports a total absence of revenue and a deepening deficit in retained earnings.
The rapid inflation of the asset base suggests significant non-operating adjustments or capital restructuring rather than organic business growth. Investors should monitor whether these assets represent tangible value or merely accounting placeholders that may face future impairment if commercialization remains elusive.
Based on the company's reported figures, retained earnings have plummeted to -$140.4 million as of 2026Q1, reflecting a consistent pattern of value destruction that has significantly undermined the quality of the equity base despite periodic fluctuations in total reported shareholder capital.
The widening deficit indicates that the firm has been unable to generate profitable returns on its invested capital, relying instead on external financing to maintain its corporate structure. This trend suggests that equity holders are effectively funding ongoing operational losses rather than participating in a growing business enterprise.
According to recent SEC filings, the company's cash position declined from a peak of $22.1 million in 2025Q4 to $16.5 million in 2026Q1, signaling a rapid consumption of liquidity that leaves the firm with a narrowing buffer against its ongoing fixed administrative and R&D obligations.
The lack of a current ratio in the most recent period, combined with the historical volatility of liquidity metrics, suggests that the company's ability to meet short-term obligations is becoming increasingly precarious. Without a clear path to revenue, the current cash balance may be insufficient to support long-term operations.
As indicated by the balance sheet data, the company's reliance on intellectual property and intangible assets warrants caution, as these items often serve as the primary components of the asset base in the absence of meaningful revenue-generating physical infrastructure or commercialized product lines.
The potential for significant impairment of these intangible assets remains a critical risk, particularly if the firm fails to secure licensing agreements for its proprietary technologies. Analysts should consider that the carrying value of these assets may not reflect their actual market value in a liquidation scenario.
Quick answers to the most common questions about buying AGRI stock.
As of 2025, AgriFORCE Growing Systems Ltd. (AGRI) had total assets of $195.0M including $33.5M in current assets.
AgriFORCE Growing Systems Ltd. (AGRI) carries total debt of $0.0M, offset by $22.1M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
AgriFORCE Growing Systems Ltd. (AGRI) has total shareholders' equity (book value) of $187.0M ($11.23 book value per share). Book value represents the net worth of the company belonging to common stock holders.
AgriFORCE Growing Systems Ltd. (AGRI) reported a current ratio of 4.19x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.