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Financial statements

Agencia Comercial Spirits Ltd. financial statements

Income statement, balance sheet and cash flow statement for the last 3 fiscal years, taken from the XBRL data Agencia Comercial Spirits Ltd. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

FY2023FY2025FY2025
Revenue0.892.546.21
Cost of revenue0.521.274.32
Gross profit0.361.271.89
Selling and marketing0.010.050.15
General and administrative0.050.210.96
Operating expenses0.060.251.1
Operating income0.31.010.78
Interest expense000
Interest income000
Pre-tax income0.31.020.79
Income tax0.060.240.18
Net income0.240.780.61
EPS, basic0.020.060.04
EPS, diluted0.020.060.04
Shares, basic (weighted)12.512.515.9
Shares, diluted (weighted)12.512.515.9

Balance sheet

FY2023FY2025FY2025
Cash and equivalents0.130.0515.8
Receivables0.723.99
Inventory2.652.79
Other current assets0.245.3
Total current assets3.6727.9
Lease right-of-use assets0.090.15
Intangible assets0.05
Total assets3.9128.2
Accounts payable0.330.12
Deferred revenue0.30.020.07
Short-term debt0.030.02
Total current liabilities1.9218.2
Long-term debt0.02
Lease liabilities0.070.07
Total liabilities2.0118.3
Total debt0.050.02
Paid-in capital0.177.52
Retained earnings1.752.3
Other comprehensive income-0.12-0.11
Shareholders' equity1.211.99.87
Total equity1.211.99.87
Total liabilities and equity3.9128.2

Cash flow statement

FY2023FY2025FY2025
Net income0.240.780.61
Change in receivables0.24-0.72-3.27
Change in inventory-1.1-0.52-0.02
Change in payables0.090.27-0.23
Cash from operations-0.27-0.24-7.5
Cash from investing0.49
Debt repaid-0.03-0.03-0.03
Stock issued8.26
Cash from financing-0.160.1923.3
Exchange rate effect0-0.03-0.06
Net change in cash0.06-0.0515.8
Interest paid000
Income taxes paid0.060.240.16

Key metrics

Worked out from the statements above. Latest values use fiscal 2025. Valuation uses the share price of $15.00 on September 25, 2026.

Profitability

MetricValueHow it is calculated
Gross margin30.4%Gross profit / revenue.
Operating margin12.6%Operating income / revenue.
Pre-tax margin12.7%Pre-tax income / revenue.
Net margin9.8%Net income / revenue.
Operating cash flow margin-120.8%Cash from operations / revenue.
Effective tax rate22.9%Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)10.4%Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)3.8%Net income / average total assets.

Growth

MetricValueHow it is calculated
Revenue growth, 1y144.6%Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y49.3%Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y-22.7%Operating income vs the same period a year earlier. Only from a positive base.
Net income growth, 1y-21.8%Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y-38.5%EPS vs the same period a year earlier. Only from a positive base.
Book value growth, 1y419.3%Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y621.1%Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y27.3%Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

MetricValueHow it is calculated
Current ratio1.53xCurrent assets / current liabilities.
Quick ratio1.09x(Cash + short-term investments + receivables) / current liabilities.
Cash ratio0.87x(Cash + short-term investments) / current liabilities.
Debt / equity0.00xTotal debt / shareholders' equity. Not shown when equity is negative.
Debt / assets0.1%Total debt / total assets.
Liabilities / assets65.0%Total liabilities / total assets.
Net debt-$15.8MTotal debt - cash - short-term investments. Negative means more cash than debt.
Interest coverage363xOperating income / interest expense.
Working capital$9.7MCurrent assets - current liabilities.
Goodwill and intangibles / assets0.2%(Goodwill + intangible assets) / total assets.
Tangible book value$9.8MShareholders' equity - goodwill - intangible assets.

Efficiency

MetricValueHow it is calculated
Asset turnover0.39xRevenue / average total assets.
Inventory turnover1.59xCost of revenue / average inventory.
Days inventory230 days365 x average inventory / cost of revenue.
Receivables turnover2.64xRevenue / average receivables.
Days sales outstanding138 days365 x average receivables / revenue.
Days payables19 days365 x average accounts payable / cost of revenue.
Cash conversion cycle349 daysDays inventory + days sales outstanding - days payables.

Per share

MetricValueHow it is calculated
EPS, diluted$0.04Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
EPS, basic$0.04Net income per basic share, as reported (split-adjusted).
Revenue per share$0.39Revenue / diluted weighted shares.
Operating cash flow per share-$0.47Cash from operations / diluted weighted shares.
Book value per share$0.62Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share$0.62Tangible book value / shares outstanding.
Cash per share$0.99(Cash + short-term investments) / shares outstanding.

Valuation

MetricValueHow it is calculated
Market cap$559.3MShare price x shares outstanding.
Enterprise value$543.5MMarket cap + total debt - cash - short-term investments.
P/E918xMarket cap / net income. Only when net income is positive.
P/S90.1xMarket cap / revenue.
P/B56.7xMarket cap / shareholders' equity. Only when equity is positive.
Price / tangible book57.0xMarket cap / tangible book value, when positive.
EV/Sales87.6xEnterprise value / revenue.
EV/EBIT693xEnterprise value / operating income, when both are positive.
Earnings yield0.1%Net income / market cap (the inverse of P/E).
What was Agencia Comercial Spirits Ltd.'s revenue in fiscal 2025?

Agencia Comercial Spirits Ltd. reported revenue of $6.2M for fiscal 2025, 144.6% higher than the year before.

Was Agencia Comercial Spirits Ltd. profitable in fiscal 2025?

Yes. Net income was $609.4K, a net margin of 9.8%.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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