African Agriculture Holdings Inc. (AAGR) Balance Sheet
AAGR balance sheet, 2023
December 31, 2023 · U.S. dollars$18.4M assets = $41.0M liabilities + −$22.6M equity
Liabilities exceed assets: shareholders’ equity is negative (−$22.6M).
Both columns are drawn to the same scale: what AAGR owns equals what it owes plus shareholders’ equity. Hover a block for its value.
AAGR financial health
Descriptive bands, not a rating. Fiscal 2023.
AAGR balance sheet trends, 2021–2023
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $7.7M2021 | $18.4M2023 | +55.0%/yr | |
| Total liabilities | $21.4M2021 | $41.0M2023 | +38.2%/yr | |
| Shareholders’ equity | −$13.8M2021 | −$22.6M2023 | — | |
| Cash & short-term investments | $19,0932021 | $2.8M2023 | +1,108.4%/yr | |
| Total debt | $17.7M2021 | $11.7M2023 | −18.7%/yr | |
| Net cash (debt) | −$17.7M2021 | −$8.9M2023 | +$8.8M | |
| Working capital | −$3.1M2021 | −$26.6M2023 | −$23.5M | |
| Book value per share | −$0.362021 | −$0.632023 | — | |
| Current ratio | 0.182021 | 0.162023 | −0.02 | |
| Shares outstanding | 38.1M2021 | 35.7M2023 | −3.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
AAGR assets
AAGR liabilities and equity
AAGR debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
AAGR balance sheet
| 2023 | 2022 | 2021 | |
|---|---|---|---|
| Assets | |||
| Cash & short-term investments | $2.8M | $10,058 | $19,093 |
| Cash & equivalents | $2.8M | $10,058 | $19,093 |
| Receivables | $1.1M | $190,870 | $1,807 |
| Inventory | $1.3M | $314,849 | $549,739 |
| Other current assets | $10,621 | $989,703 | $128,996 |
| Total current assets | $5.2M | $1.5M | $699,635 |
| Property, plant & equipment (net) | $8.7M | $4.5M | $2.3M |
| Goodwill & intangible assets | $4.4M | $4.5M | $4.7M |
| Long-term investments | $0 | $0 | $0 |
| Other non-current assets | $58,534 | $288,558 | $12,657 |
| Total assets | $18.4M | $10.9M | $7.7M |
| Liabilities | |||
| Accounts payable | $10.2M | $4.7M | $929,540 |
| Short-term debt | $4.9M | $4.2M | $2.7M |
| Total current liabilities | $31.8M | $9.9M | $3.8M |
| Long-term debt | $206,287 | $108,277 | $15.0M |
| Lease obligations | $6.7M | $2.4M | $0 |
| Other long-term liabilities | $8.9M | $4.6M | $2.6M |
| Total liabilities | $41.0M | $14.6M | $21.4M |
| Shareholders' equity | |||
| Common stock & paid-in capital | $5,787 | $3,914 | $3,615 |
| Retained earnings (deficit) | −$83.6M | −$40.6M | −$14.3M |
| Accumulated other comprehensive income | −$95,750 | −$59,292 | −$655,675 |
| Minority interest | — | $0 | $0 |
| Total shareholders' equity | −$22.6M | −$3.7M | −$13.8M |
| Key figures | |||
| Total debt | $11.7M | $6.7M | $17.7M |
| Net cash (debt) | −$8.9M | −$6.7M | −$17.7M |
| Working capital | −$26.6M | −$8.4M | −$3.1M |
| Tangible book value | −$27.0M | −$8.3M | −$18.5M |
| Book value per share | −$0.63 | −$0.08 | −$0.36 |
| Shares outstanding | 35.7M | 44.6M | 38.1M |
| Current ratio | 0.16 | 0.15 | 0.18 |
| Quick ratio | 0.12 | 0.02 | 0.01 |
| Equity / assets | −122.9% | −34.4% | −180.3% |
| Mar '24 | Dec '23 | Sep '23 | Jun '23 | Mar '23 | Dec '22 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $67,183 | $2.8M | $17,450 | $3,672 | $109 | $36,675 | $147,091 | $619,285 | $994,914 | $1.4M | $1.7M | — |
| Cash & equivalents | $67,183 | $2.8M | $17,450 | $3,672 | $109 | $36,675 | $147,091 | $619,285 | $994,914 | $1.4M | $1.7M | — |
| Receivables | $49,115 | $10,796 | $36,958 | $125,866 | $182,031 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Inventory | $255,144 | $1.3M | $260,054 | $266,050 | $312,104 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other current assets | $3.3M | $1.1M | $0 | $951,556 | $941,556 | $137,073 | $95,663 | $96,077 | $159,089 | $183,695 | $232,767 | — |
| Total current assets | $3.7M | $5.2M | $110,399 | $1.3M | $1.4M | $173,748 | $242,754 | $715,362 | $1.2M | $1.5M | $1.9M | — |
| Property, plant & equipment (net) | $9.3M | $8.7M | $8.7M | $4.5M | $4.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Goodwill & intangible assets | $4.4M | $4.4M | $4.5M | $4.5M | $4.5M | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $1,319 | $58,534 | $9.3M | $181,511 | $237,582 | $47.3M | $201.2M | $200.3M | $200.0M | $200.0M | $200.0M | $155,476 |
| Total assets | $17.4M | $18.4M | $22.6M | $10.5M | $10.7M | $47.4M | $201.4M | $201.0M | $201.2M | $201.5M | $201.9M | $155,476 |
| Liabilities | ||||||||||||
| Accounts payable | $10.5M | $10.2M | $6.6M | $5.7M | $5.1M | — | — | — | — | — | — | — |
| Short-term debt | $4.8M | $4.9M | $1.6M | $4.5M | $5.0M | $600,000 | — | — | — | — | — | $81,457 |
| Deferred revenue | $7.0M | — | — | — | — | — | — | — | — | — | — | — |
| Total current liabilities | $32.6M | $31.8M | $14.0M | $11.6M | $11.2M | $10.3M | $7.7M | $6.3M | $2.7M | $1.2M | $215,132 | $142,207 |
| Long-term debt | $206,287 | $0 | $211,398 | $927,575 | $168,481 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $6.7M | — | $6.8M | $2.4M | $2.4M | — | — | — | — | — | — | — |
| Other long-term liabilities | $8.9M | $9.2M | $6.8M | $4.7M | $4.7M | $7.3M | $7.0M | $7.0M | $7.0M | $7.0M | $7.0M | $0 |
| Total liabilities | $41.8M | $41.0M | $21.0M | $17.3M | $16.1M | $17.7M | $14.7M | $13.3M | $9.7M | $8.2M | $7.2M | $142,207 |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $5,787 | $5,787 | $22.3M | $3,914 | $3,914 | $47.2M | $201.1M | $200.2M | $200.0M | $200.0M | $200.0M | $767 |
| Retained earnings (deficit) | −$96.3M | −$83.6M | −$20.8M | −$59.6M | −$50.2M | −$17.4M | −$14.3M | −$12.5M | −$8.6M | −$6.6M | −$5.3M | −$11,731 |
| Accumulated other comprehensive income | −$103,152 | −$95,750 | — | −$97,769 | −$68,049 | — | — | — | — | — | — | — |
| Total shareholders' equity | −$24.4M | −$22.6M | $1.5M | −$6.8M | −$5.4M | $29.8M | $186.8M | $187.7M | $191.4M | $193.4M | $194.7M | $13,269 |
| Key figures | ||||||||||||
| Total debt | $11.7M | $11.7M | $1.6M | $7.9M | $7.5M | $600,000 | — | — | — | — | — | $81,457 |
| Net cash (debt) | −$11.6M | −$8.9M | −$1.6M | −$7.9M | −$7.5M | −$563,325 | — | — | — | — | — | −$81,457 |
| Working capital | −$29.0M | −$26.6M | −$13.9M | −$10.3M | −$9.8M | −$10.2M | −$7.4M | −$5.6M | −$1.6M | $348,893 | $1.7M | — |
| Tangible book value | −$28.8M | −$27.0M | −$2.9M | −$11.3M | −$9.9M | $29.8M | $186.8M | $187.7M | $191.4M | $193.4M | $194.7M | $13,269 |
| Book value per share | −$0.42 | −$0.39 | $0.03 | −$0.12 | −$0.10 | $1.03 | $4.90 | $4.92 | $5.02 | $5.07 | $4.93 | $0.00 |
| Shares outstanding | 57.6M | 57.9M | 52.7M | 58.9M | 54.6M | 28.9M | 38.1M | 38.1M | 38.1M | 38.1M | 39.5M | 39.5M |
| Current ratio | 0.11 | 0.16 | 0.01 | 0.12 | 0.13 | 0.02 | 0.03 | 0.11 | 0.42 | 1.29 | 8.82 | — |
| Quick ratio | 0.00 | 0.09 | 0.00 | 0.01 | 0.02 | 0.00 | 0.02 | 0.10 | 0.36 | 1.14 | 7.73 | 0.00 |
| Debt / equity | — | — | 1.06 | — | — | 0.02 | — | — | — | — | — | 6.14 |
| Equity / assets | −139.9% | −122.9% | 6.8% | −64.9% | −50.2% | 62.8% | 92.7% | 93.4% | 95.2% | 95.9% | 96.4% | 8.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed December 31, 2023); data from EODHD.
AAGR financial position
At the end of fiscal 2023 (December 31, 2023), African Agriculture had total assets of $18.4 million (up 69.0% from a year earlier), total liabilities of $41.0 million and shareholders' equity of -$22.6 million. It held $2.8 million in cash and short-term investments against $11.7 million of debt, net debt of $8.9 million. Its current ratio was 0.16. In the latest quarter (ended March 31, 2024) total assets were $17.4 million and equity -$24.4 million.
Related: AAGR income statement, AAGR cash flow statement, AAGR key metrics. See the AAGR stock overview for the latest quote and news.
AAGR balance sheet FAQ
What are African Agriculture's total assets?
African Agriculture reported total assets of $18.4 million at the end of fiscal 2023 (December 31, 2023), compared with $10.9 million a year earlier.
How much debt does African Agriculture have?
African Agriculture had $11.7 million of total debt at the end of fiscal 2023, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does African Agriculture have?
African Agriculture held $2.8 million in cash and short-term investments at the end of fiscal 2023; with $11.7 million of debt that is net debt of $8.9 million.
What is African Agriculture's book value?
African Agriculture's shareholders' equity (book value) was -$22.6 million at the end of fiscal 2023, or −$0.63 per share.
What is African Agriculture's current ratio?
African Agriculture had current assets of $5.2 million and current liabilities of $31.8 million, a current ratio of 0.16 (current liabilities exceed current assets).
How much goodwill does African Agriculture have?
African Agriculture carried $4.4 million of goodwill and intangible assets, 24.1% of total assets, at the end of fiscal 2023.