The company's financial position has deteriorated significantly, with total debt surging to $141.1M and equity falling into a negative $36.7M balance as of 2024Q2.
| Total Current Assets | 89.04M | 57.9M | 71.48M | 2.05M | 118.64M | 70.38M |
| Cash & Short-Term Investments | 26.93M | 3.71M | 19.58M | 1.71M | 87.26M | 33.86M |
| Cash Only | 26.93M | 3.71M | 19.58M | 1.71M | 87.26M | 33.86M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 27.88M | 22.49M | 13.62M | 20.39M | 12.15M | 6.74M |
| Days Sales Outstanding | 143.64 | 114.88 | 129.95 | 184.53 | 126.96 | 91.57 |
| Inventory | 23.61M | 28.84M | 22.17M | 20.16M | 18.18M | 27.83M |
| Days Inventory Outstanding | 115.65 | 57.75 | 146.9 | 128.12 | 134.78 | 291.31 |
| Other Current Assets | 10.61M | 2.87M | 16.1M | 1.59M | 1.05M | 1.95M |
| Total Non-Current Assets | 93.2M | 7M | 86.86M | 213.16M | 65.05M | 59.69M |
| Property, Plant & Equipment | 76.05M | 0 | 70.08M | 65.18M | 55.3M | 53.33M |
| Fixed Asset Turnover | 0.71x | - | 0.55x | 0.62x | 0.63x | 0.50x |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 5.54M |
| Intangible Assets | 17.15M | 17.15M | 955K | 14.36M | 9.75M | 826K |
| Long-Term Investments | 162.3M | 0 | 0 | 213.1M | 0 | 0 |
| Other Non-Current Assets | 0 | -10.15M | 15.82M | 57.99K | 0 | 0 |
| Total Assets | 182.24M | 64.9M | 158.34M | 215.21M | 183.69M | 130.07M |
| Asset Turnover | 0.35x | 1.10x | 0.24x | 0.19x | 0.19x | 0.21x |
| Asset Growth % | -119.81% | -59.01% | -26.43% | 17.16% | 41.23% | - |
| Total Current Liabilities | 79.3M | 67.54M | 45.57M | 1.57M | 27.23M | 40.27M |
| Accounts Payable | 0 | 27.53M | 3.83M | 5.13M | 4.37M | 16.96M |
| Days Payables Outstanding | 10.76 | 55.13 | 25.36 | 32.58 | 32.38 | 177.58 |
| Short-Term Debt | 22.44M | 14.01M | 13.83M | 18.69M | 12.23M | 18.67M |
| Deferred Revenue (Current) | 2.67M | 3.22M | 2.67M | 1.49M | 1.06M | 798K |
| Other Current Liabilities | 56.86M | 4.36M | 12.96M | -28.68M | 3.65M | 2.85M |
| Current Ratio | 1.12x | 0.86x | 1.57x | 1.31x | 4.36x | 1.75x |
| Quick Ratio | 0.83x | 0.43x | 1.08x | -11.51x | 3.69x | 1.06x |
| Cash Conversion Cycle | 248.53 | 117.49 | 251.49 | 280.06 | 229.35 | 205.31 |
| Total Non-Current Liabilities | 139.68M | 184.32M | 97.03M | 14.82M | 19.73M | 12.47M |
| Long-Term Debt | 118.64M | 89.41M | 70.83M | 4.33M | 6.53M | 0 |
| Capital Lease Obligations | 7.37M | 7.06M | 7.37M | 7.46M | 7.81M | 8.54M |
| Deferred Tax Liabilities | -95.19M | 0 | 0 | -17.33M | 0 | 0 |
| Other Non-Current Liabilities | 21.04M | 70M | 18.83M | 3.03M | 611K | 3.94M |
| Total Liabilities | 218.98M | 251.86M | 142.61M | 16.4M | 46.97M | 52.74M |
| Total Debt | 141.08M | 111.19M | 92.67M | 31.06M | 27.12M | 28.19M |
| Net Debt | 114.15M | 107.48M | 73.09M | 29.34M | -60.14M | -5.67M |
| Debt / Equity | -3.84x | - | 5.89x | 0.16x | 0.20x | 0.36x |
| Debt / EBITDA | -5.58x | - | - | 12.42x | - | - |
| Net Debt / EBITDA | -4.51x | - | - | 11.73x | - | - |
| Interest Coverage | - | -7.47x | -20.96x | -39.63x | -28.78x | - |
| Total Equity | -36.75M | -186.96M | 15.73M | 198.82M | 136.73M | 77.33M |
| Equity Growth % | -424.68% | -1288.5% | -92.09% | 45.41% | 76.82% | - |
| Book Value per Share | -14.99 | - | 0.75 | 7.46 | 8.79 | 7.71 |
| Total Shareholders' Equity | -36.75M | -186.96M | 15.73M | 198.82M | 136.73M | 77.33M |
| Common Stock | 53K | 0 | 386.43M | 213.1M | 381.89M | 291.23M |
| Retained Earnings | -427.58M | -196.46M | -377.87M | -14.28M | -250.82M | -214.82M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 390.78M | 1.99M | 7.48M | 6.75M | 5.66M | 924K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 |
Existential liquidity and solvency
According to recent financial filings, the company's equity position has shifted into a negative $36.7M territory as of 2024Q2, signaling that the aggressive pursuit of manufacturing scale is eroding the underlying book value of the firm at an unsustainable pace for long-term stakeholders.
The transition from positive equity in 2023 to a deficit in 2024 suggests that cumulative operating losses are now outpacing the company's ability to retain or attract capital. This trajectory indicates that the business model is currently consuming its own capital base to fund operational scaling, which warrants significant caution regarding the company's long-term viability.
As reported in quarterly balance sheets, total debt has surged to $141.1M by 2024Q2, representing a substantial increase from the zero-debt position observed in 2022, which suggests that the company is increasingly reliant on external financing to bridge its persistent operational funding gaps.
The rapid accumulation of debt in the face of negative equity implies that the company is financing its capital-intensive manufacturing ambitions through leverage rather than internal cash generation. Investors should monitor whether this debt load can be serviced or refinanced, given the absence of positive operating cash flow to support such obligations.
Based on the 2024Q2 data, the current ratio of 1.12 provides only a marginal buffer against short-term liabilities, which appears precarious when contrasted with the company's historical volatility and the significant cash burn required to maintain its specialized automated production lines.
While the current ratio suggests a slight improvement from the near-zero levels seen in late 2023, the absolute cash position remains insufficient to cover the scale of operating losses reported. This liquidity profile indicates that the company may be forced to seek dilutive financing or additional debt to maintain operations in the near term.
As indicated by the financial statements, net PPE of $76.0M constitutes a significant portion of the $182.2M total asset base, reflecting the company's heavy reliance on specialized, non-liquid automated manufacturing infrastructure to drive its future production capacity.
The concentration of assets in specialized machinery suggests that the company's value is highly sensitive to the successful utilization of its 'Mega-line' technology. If production yields do not improve, the recoverability of these assets may be impaired, potentially leading to further write-downs that would exacerbate the current equity deficit.
Financial disclosures reveal that the shift to a negative $36.7M equity position is primarily driven by a massive $427.6M accumulated deficit, which suggests that the company's historical capital allocation has failed to generate returns exceeding the cost of its intensive R&D and manufacturing investments.
This deep deficit serves as a warning that the company's business model may be fundamentally misaligned with its cost structure, regardless of its technological achievements. The reliance on external capital to offset these losses makes the company highly vulnerable to shifts in market sentiment or interest rate environments.
Quick answers to the most common questions about buying CREV stock.
As of 2024, Carbon Revolution Public Limited Ordinary Shares (CREV) had total assets of $64.9M including $57.9M in current assets.
Carbon Revolution Public Limited Ordinary Shares (CREV) carries total debt of $111.2M, offset by $3.7M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Carbon Revolution Public Limited Ordinary Shares (CREV) has total shareholders' equity (book value) of $-187.0M. Book value represents the net worth of the company belonging to common stock holders.
Carbon Revolution Public Limited Ordinary Shares (CREV) reported a current ratio of 0.86x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.