The company's financial position appears vulnerable, with a current ratio of 0.38 and a massive $923.4M goodwill balance that represents over 54% of total assets.
| Total Current Assets | 271.14M | 318.99M | 250.33M | 313.18M | 766.06M | 154.69M | 79.09M | 104.28M |
| Cash & Short-Term Investments | 32.61M | 116.88M | 63.74M | 108.4M | 582.23M | 59.98M | 12.34M | 50.68M |
| Cash Only | 32.61M | 116.88M | 63.74M | 100.24M | 582.23M | 59.98M | 12.34M | 50.68M |
| Short-Term Investments | 0 | 0 | 0 | 8.16M | 0 | 0 | 0 | 0 |
| Accounts Receivable | 203.9M | 190.76M | 176.84M | 156.01M | 142.41M | 86.01M | 62.14M | 51.2M |
| Days Sales Outstanding | 71.09 | 72.55 | 79.93 | 75.25 | 84.89 | 73.06 | 64.06 | 67.62 |
| Inventory | 0 | 0 | 0 | 6.37M | 20.99M | 2.52M | 1.16M | 0 |
| Days Inventory Outstanding | - | - | - | 4.97 | 17.76 | 2.82 | 1.62 | - |
| Other Current Assets | 28.54M | 6.19M | 4.18M | 36.03M | -489K | 3.67M | 2.29M | 2.33M |
| Total Non-Current Assets | 1.4B | 1.42B | 1.46B | 1.49B | 1.08B | 298.17M | 169.89M | 168.08M |
| Property, Plant & Equipment | 16.15M | 17.85M | 14.41M | 19.59M | 15.73M | 12.49M | 17.5M | 9.2M |
| Fixed Asset Turnover | 63.03x | 53.77x | 56.03x | 38.63x | 38.92x | 34.39x | 20.24x | 30.05x |
| Goodwill | 923.44M | 923.44M | 923.44M | 923.44M | 813.91M | 163.39M | 78.78M | 78.78M |
| Intangible Assets | 372.25M | 394.66M | 423.89M | 453.79M | 236.44M | 118.08M | 70.33M | 75.39M |
| Long-Term Investments | 9.94M | 1.76M | 1.11M | 0 | 7M | 2.23M | 3.29M | 4.71M |
| Other Non-Current Assets | 89.29M | 11.31M | 6.41M | 2.35M | 2.42M | 1.58M | 0 | 0 |
| Total Assets | 1.67B | 1.74B | 1.71B | 1.8B | 1.84B | 452.85M | 248.98M | 272.36M |
| Asset Turnover | 0.63x | 0.55x | 0.47x | 0.42x | 0.33x | 0.95x | 1.42x | 1.01x |
| Asset Growth % | -7.28% | 1.87% | -5.13% | -2.15% | 307.16% | 81.88% | -8.58% | - |
| Total Current Liabilities | 715.37M | 674.76M | 607.37M | 476.34M | 429.88M | 226.44M | 74.78M | 73.72M |
| Accounts Payable | 407.84M | 445.8M | 354M | 264.73M | 144.42M | 100.04M | 39.22M | 40.2M |
| Days Payables Outstanding | 179.3 | 244.72 | 270.86 | 206.55 | 122.19 | 112.05 | 54.89 | 78.86 |
| Short-Term Debt | 78.01M | 81.14M | 36.19M | 89.54M | 64.42M | 56.2M | 17.7M | 12.85M |
| Deferred Revenue (Current) | 37.57M | 5.37M | 0 | 6.87M | 4.58M | 15.58M | 0 | 0 |
| Other Current Liabilities | 161.35M | 112.32M | 153.85M | 66.84M | 179.87M | 39.68M | 8.42M | 15.24M |
| Current Ratio | 0.38x | 0.47x | 0.41x | 0.66x | 1.78x | 0.68x | 1.06x | 1.41x |
| Quick Ratio | 0.38x | 0.47x | 0.41x | 0.64x | 1.73x | 0.67x | 1.04x | 1.41x |
| Cash Conversion Cycle | -108.21 | - | - | -126.33 | -19.54 | -36.17 | 10.79 | - |
| Total Non-Current Liabilities | 214.74M | 297.38M | 215.24M | 374.55M | 210.76M | 111.07M | 74.87M | 50.15M |
| Long-Term Debt | 14.6M | 45.72M | 51.6M | 77.29M | 143.72M | 42.78M | 45.65M | 33.67M |
| Capital Lease Obligations | 6.05M | 1.31M | 752K | 2.82M | 2.04M | 1.65M | 4.6M | 1.71M |
| Deferred Tax Liabilities | 1.67M | 804K | 1.72M | 1.97M | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 198.19M | 249.55M | 161.16M | 292.46M | 63.34M | 65.29M | 24.61M | 14.78M |
| Total Liabilities | 930.11M | 972.14M | 822.62M | 850.88M | 640.65M | 337.51M | 149.65M | 123.87M |
| Total Debt | 96.3M | 129.68M | 90.6M | 171.65M | 212.4M | 101.73M | 70.64M | 48.23M |
| Net Debt | 63.69M | 12.79M | 26.86M | 71.41M | -369.83M | 41.75M | 58.3M | -2.45M |
| Debt / Equity | 0.13x | 0.17x | 0.10x | 0.18x | 0.18x | 0.88x | 0.71x | 0.32x |
| Debt / EBITDA | -1.00x | 1.36x | 1.18x | - | - | 19.64x | 1.83x | 1.08x |
| Net Debt / EBITDA | -0.66x | 0.13x | 0.35x | - | - | 8.06x | 1.51x | -0.05x |
| Interest Coverage | -2.61x | -0.91x | -0.40x | -5.13x | -2.75x | -15.29x | 4.68x | 18.92x |
| Total Equity | 742.16M | 771.41M | 888.95M | 953.24M | 1.2B | 115.35M | 99.34M | 148.49M |
| Equity Growth % | -33.44% | -13.22% | -6.74% | -20.77% | 943.11% | 16.12% | -33.1% | - |
| Book Value per Share | 14.18 | 14.87 | 21.30 | 22.92 | 36.89 | 2.94 | 2.53 | 3.78 |
| Total Shareholders' Equity | 742.16M | 771.41M | 888.81M | 953.34M | 1.2B | 115.35M | 99.34M | 148.49M |
| Common Stock | 1.01B | 1.01B | 957.52M | 957.52M | 957.52M | 130.29M | 93.88M | 93.88M |
| Retained Earnings | -512.57M | -474.25M | -319.59M | -258.59M | -15.56M | -21.43M | 5.45M | 54.61M |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | 247.21M | 235.75M | 250.59M | 254.4M | 261.24M | 6.49M | 5.45M | 0 |
| Minority Interest | 0 | 0 | 137K | -96K | 0 | 0 | 0 | 0 |
Liquidity and Goodwill Impairment
According to the latest quarterly data, Zenvia's current ratio has deteriorated to 0.38 as of 2025Q2, reflecting a significant decline in short-term liquidity that leaves the company with limited flexibility to meet its immediate obligations without external financing or further operational adjustments.
The persistent sub-1.0 current ratio suggests that current liabilities are significantly outpacing liquid assets, creating a structural liquidity mismatch. Investors should monitor whether the company can stabilize its cash position, as the rapid depletion of cash reserves from $159.0M in 2023Q1 to $32.6M in 2025Q2 indicates an unsustainable burn rate.
Based on reported financial statements, Zenvia's asset base is heavily concentrated in goodwill, which has remained stagnant at $923.4M, representing over 54% of total assets and signaling that the company's valuation is highly sensitive to the performance of its past acquisitions.
The reliance on intangible assets rather than tangible infrastructure suggests that the company's book value may be overstated if the acquired businesses fail to generate expected synergies. This concentration warrants further investigation into potential impairment risks, especially given the company's ongoing struggle to achieve consistent profitability.
As indicated by the company's financial filings, retained earnings have plummeted to a deficit of $512.6M by 2025Q2, reflecting a consistent pattern of value destruction that has steadily eroded the total equity base over the last ten quarters.
The widening deficit in retained earnings highlights the difficulty management faces in translating revenue growth into bottom-line results. This trend suggests that the company is effectively consuming its capital base to fund operations, which may necessitate future dilutive financing if the current trajectory remains unchanged.
Data from the provided balance sheet reveals that while the debt-to-equity ratio appears manageable at 0.13, this metric potentially obscures the underlying risk posed by the company's massive goodwill balance and its inability to generate positive cash flow from core operations.
The low leverage ratio may provide a false sense of security, as the company's true financial health is constrained by its inability to convert assets into cash. The combination of high intangible assets and negative retained earnings suggests that the balance sheet is significantly more vulnerable than traditional leverage metrics imply.
Quick answers to the most common questions about buying ZENV stock.
As of 2024, Zenvia Inc. (ZENV) had total assets of $1.74B including $319.0M in current assets.
Zenvia Inc. (ZENV) carries total debt of $129.7M, offset by $116.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Zenvia Inc. (ZENV) has total shareholders' equity (book value) of $771.4M ($14.87 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Zenvia Inc. (ZENV) reported a current ratio of 0.47x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.