NCT maintains a conservative capital structure with a 2.41% debt-to-equity ratio, though this may mask underlying risks associated with its reliance on three leased vessels.
| Total Current Assets | 12.65M | 5.11M | 16.56M | 11.1M |
| Cash & Short-Term Investments | 4.04M | 3.75M | 3.42M | 10.43M |
| Cash Only | 4.04M | 3.75M | 3.42M | 10.43M |
| Short-Term Investments | 0 | 0 | 0 | 0 |
| Accounts Receivable | 706.19K | 802.08K | 12.74M | 1.14K |
| Days Sales Outstanding | 20.48 | 11.47 | 143.35 | 0.01 |
| Inventory | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - |
| Other Current Assets | 76.74K | 76.53K | 25.96K | 23.25K |
| Total Non-Current Assets | 50.56M | 60.04M | 63.69M | 57.63M |
| Property, Plant & Equipment | 47.92M | 57.82M | 62.31M | 56.57M |
| Fixed Asset Turnover | 0.26x | 0.44x | 0.52x | 0.55x |
| Goodwill | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 2.64M | 2.22M | 1.37M | 1.06M |
| Total Assets | 63.21M | 65.15M | 80.25M | 68.73M |
| Asset Turnover | 0.20x | 0.39x | 0.40x | 0.45x |
| Asset Growth % | 0% | -18.82% | 16.76% | - |
| Total Current Liabilities | 28.82M | 35.4M | 34.59M | 29.33M |
| Accounts Payable | 854.4K | 1.04M | 882.52K | 796.71K |
| Days Payables Outstanding | 32.54 | 20.79 | 17.83 | 13.91 |
| Short-Term Debt | 1.45M | 1.66M | 2.04M | 0 |
| Deferred Revenue (Current) | 497.36K | 0 | 187.6K | 80.41K |
| Other Current Liabilities | 9.46K | 55.45K | 55.86K | 0 |
| Current Ratio | 0.44x | 0.14x | 0.48x | 0.38x |
| Quick Ratio | 0.44x | 0.14x | 0.48x | 0.38x |
| Cash Conversion Cycle | -12.07 | - | - | - |
| Total Non-Current Liabilities | 9.81M | 18.81M | 27.7M | 28.46M |
| Long-Term Debt | 773.51K | 2.85M | 5.4M | 0 |
| Capital Lease Obligations | 9.04M | 15.52M | 21.8M | 27.96M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 0 | 440.13K | 0 | 0 |
| Total Liabilities | 38.63M | 54.21M | 62.29M | 57.79M |
| Total Debt | 14.53M | 26.31M | 35.4M | 33.98M |
| Net Debt | 10.49M | 22.56M | 31.98M | 23.55M |
| Debt / Equity | 0.59x | 2.41x | 1.97x | 3.11x |
| Debt / EBITDA | 6.41x | 2.26x | 1.79x | 2.28x |
| Net Debt / EBITDA | 4.63x | 1.94x | 1.62x | 1.58x |
| Interest Coverage | -1.23x | 2.16x | 5.01x | 7.12x |
| Total Equity | 24.59M | 10.93M | 17.95M | 10.94M |
| Equity Growth % | 0% | -39.11% | 64.18% | - |
| Book Value per Share | 22.85 | 11.05 | 18.15 | 11.06 |
| Total Shareholders' Equity | 24.59M | 10.93M | 17.95M | 10.86M |
| Common Stock | 3.05K | 2.5K | 2.45K | 2.45K |
| Retained Earnings | 9.69M | 9.26M | 17.92M | 10.85M |
| Treasury Stock | 0 | 0 | 0 | 0 |
| Accumulated OCI | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 72.21K |
Operational pivot execution failure
As reported in financial intelligence, NCT maintains a conservative debt-to-equity ratio of 2.41%, which suggests that despite a 21.32% year-over-year revenue decline, the company has avoided the aggressive leverage typically associated with distressed maritime operators during cyclical downturns in the dry bulk shipping sector.
The company's low leverage profile appears to be a strategic choice to preserve flexibility while navigating a difficult transition period. Investors should monitor whether this conservative stance is maintained as the firm commits capital to the upcoming Openwindow pulping project.
Based on available financial data, the company holds $3.75 million in cash reserves, which serves as the primary liquidity buffer for its operations and the upcoming Q1 2025 launch of its specialized seaborne pulping initiative, according to recent company operational disclosures.
This cash position appears adequate for current maintenance needs but may be insufficient if the pulping project encounters significant cost overruns or delays. The reliance on this limited reserve suggests that any further revenue contraction could quickly constrain the company's operational flexibility.
While the reported 2.41% debt-to-equity ratio suggests a fortress-like balance sheet, the company's reliance on three leased vessels versus only one owned unit implies that significant fixed financial commitments remain off-balance-sheet, as noted in recent industry-standard accounting interpretations of maritime lease structures.
These fixed lease obligations represent a material liability that is not fully captured by traditional debt metrics, potentially misleading investors regarding the firm's true financial resilience. Analysts should treat these commitments as debt-like instruments when assessing the company's long-term solvency and risk profile.
Quick answers to the most common questions about buying NCT stock.
As of 2023, Intercont (Cayman) Limited Ordinary shares (NCT) had total assets of $65.1M including $5.1M in current assets.
Intercont (Cayman) Limited Ordinary shares (NCT) carries total debt of $26.3M, offset by $3.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Intercont (Cayman) Limited Ordinary shares (NCT) has total shareholders' equity (book value) of $10.9M ($11.05 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Intercont (Cayman) Limited Ordinary shares (NCT) reported a current ratio of 0.14x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.