The company's financial position is increasingly distressed, with the debt-to-equity ratio surging to 4.95 as of 2026Q1 while retained earnings have eroded to a $38.5 million deficit.
| Total Current Assets | 1.27M | 1.33M | 5M | 6.4M | 8.52M |
| Cash & Short-Term Investments | 66.83K | 35.37K | 385.12K | 326.82K | 572.2K |
| Cash Only | 66.83K | 35.37K | 385.12K | 326.82K | 572.2K |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 0 | 4.69K | 1.12M | 3.52M | 4.24M |
| Days Sales Outstanding | 12.32 | 0.14 | 17.56 | 25.31 | 94.95 |
| Inventory | 654.91K | 678.37K | 3.15M | 2.44M | 3.44M |
| Days Inventory Outstanding | 47.61 | 15.79 | 46.43 | 18.38 | 98.17 |
| Other Current Assets | 544.22K | 609.26K | 339.12K | 114.39K | 269.5K |
| Total Non-Current Assets | 18.05M | 17.89M | 21.95M | 21.78M | 18.33M |
| Property, Plant & Equipment | 5.28M | 5.12M | 15.81M | 14.22M | 13.3M |
| Fixed Asset Turnover | 0.61x | 2.44x | 1.48x | 3.57x | 1.22x |
| Goodwill | 3.21M | 3.21M | 3.21M | 3.21M | 3.21M |
| Intangible Assets | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 3.16M | 770.34K | 2.93M | 0 | 782.37K |
| Other Non-Current Assets | 8.78M | 7.79M | 0 | 4.35M | 0 |
| Total Assets | 19.31M | 19.21M | 26.95M | 28.18M | 26.85M |
| Asset Turnover | 0.30x | 0.65x | 0.87x | 1.80x | 0.61x |
| Asset Growth % | -88.61% | -28.69% | -4.36% | 4.94% | - |
| Total Current Liabilities | 16.4M | 15.12M | 12.4M | 12.87M | 9.11M |
| Accounts Payable | 3.63M | 2.67M | 2.78M | 4.75M | 5.23M |
| Days Payables Outstanding | 111.38 | 62.13 | 40.95 | 35.86 | 149.1 |
| Short-Term Debt | 8.98M | 9.02M | 7.84M | 7.9M | 3.17M |
| Deferred Revenue (Current) | 0 | 0 | 0 | 0 | 0 |
| Other Current Liabilities | 3.78M | 3.43M | 459.07K | 0 | 700.07K |
| Current Ratio | 0.08x | 0.09x | 0.40x | 0.50x | 0.93x |
| Quick Ratio | 0.04x | 0.04x | 0.15x | 0.31x | 0.56x |
| Cash Conversion Cycle | -51.45 | -46.2 | 23.03 | 7.83 | 44.02 |
| Total Non-Current Liabilities | 917.61K | 907.08K | 3.05M | 2.22M | 1.36M |
| Long-Term Debt | 917.61K | 907.08K | 2M | 2.1M | 133.51K |
| Capital Lease Obligations | 966.66K | 0 | 1.05M | 116.25K | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 1.23M |
| Other Non-Current Liabilities | 0 | 0 | 0 | 0 | 0 |
| Total Liabilities | 17.31M | 16.03M | 15.45M | 15.09M | 10.47M |
| Total Debt | 9.9M | 9.93M | 10.94M | 10.18M | 3.3M |
| Net Debt | 9.83M | 9.9M | 10.56M | 9.86M | 2.73M |
| Debt / Equity | 4.95x | 3.12x | 0.95x | 0.78x | 0.20x |
| Debt / EBITDA | -1.44x | - | - | - | - |
| Net Debt / EBITDA | -1.43x | - | - | - | - |
| Interest Coverage | -3.24x | -2.89x | -1.26x | -0.27x | -0.64x |
| Total Equity | 2M | 3.19M | 11.5M | 13.09M | 16.38M |
| Equity Growth % | -207.87% | -72.28% | -12.15% | -20.08% | - |
| Book Value per Share | 0.56 | 1.15 | 4.83 | 5.32 | 6.89 |
| Total Shareholders' Equity | 2M | 3.19M | 11.5M | 13.09M | 16.38M |
| Common Stock | 3.01K | 2.59K | 1.9K | 1.63K | 4.87K |
| Retained Earnings | -38.49M | -36.17M | -23.97M | -9.24M | -4.8M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -212.79K | -212.79K | -209.71K | -201.5K | -177.32K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 |
Imminent Liquidity Insolvency Risk
As reported in recent financial filings, Sky Quarry's total assets have declined from $27.7 million in 2024Q2 to $19.3 million in 2026Q1, reflecting a consistent contraction that mirrors the company's inability to stabilize its asset base while sustaining persistent operational losses and eroding shareholder equity.
The steady decline in total assets suggests a liquidation of value or impairment of core infrastructure as the company struggles to maintain its operational footprint. This downward trajectory indicates that the business model is currently unable to preserve capital, raising significant concerns regarding the long-term viability of the firm's asset base.
Based on the most recent quarterly data, Sky Quarry maintains a current ratio of just 0.08, with cash reserves plummeting to a nominal $35,370, which appears insufficient to cover even basic near-term liabilities or sustain ongoing operational requirements without immediate external capital intervention.
The extreme compression of the current ratio highlights a severe liquidity crunch that leaves the company with virtually no buffer against operational shocks. Investors should monitor this closely, as the current cash position suggests the firm is operating at the absolute limit of its financial capacity.
According to historical balance sheet data, the company's debt-to-equity ratio has surged to 4.95 as of 2026Q1, a significant increase from the 0.95 level observed in 2024Q4, indicating that the firm is increasingly reliant on debt financing despite a shrinking equity base.
The rising debt-to-equity ratio in the face of declining assets and negative earnings suggests that leverage is being used as a survival mechanism rather than a strategic growth tool. This trend warrants further investigation into the terms of existing debt and the company's ability to service these obligations under current conditions.
As evidenced by the company's latest balance sheet, net property, plant, and equipment have contracted significantly from $15.2 million in 2024Q2 to $5.3 million in 2026Q1, suggesting either aggressive depreciation or potential asset impairments related to the underperforming Woods Cross facility.
The rapid reduction in PPE value implies that the company's core infrastructure is either being written down or is failing to generate the expected economic utility. This trend suggests that the capital-intensive nature of the business is not yielding the necessary returns to justify the carrying value of these assets.
Based on reported figures, retained earnings have deteriorated to a deficit of $38.5 million as of 2026Q1, a stark reflection of the cumulative impact of persistent net losses that have effectively hollowed out the company's shareholder equity over the past ten quarters.
The consistent erosion of retained earnings indicates that the company has been unable to achieve profitability, forcing a reliance on external financing or asset liquidation to fund operations. This depletion of equity suggests that shareholders are bearing the brunt of the company's inability to execute its business model profitably.
Quick answers to the most common questions about buying SKYQ stock.
As of 2025, Sky Quarry Inc. (SKYQ) had total assets of $19.2M including $1.3M in current assets.
Sky Quarry Inc. (SKYQ) carries total debt of $9.9M, offset by $0.0M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Sky Quarry Inc. (SKYQ) has total shareholders' equity (book value) of $3.2M ($1.15 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Sky Quarry Inc. (SKYQ) reported a current ratio of 0.09x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.