The Real Good Food Company, Inc. (RGFC) Balance Sheet
RGFC balance sheet, 2022
December 31, 2022 · U.S. dollars$131.4M assets = $139.5M liabilities + −$8.1M equity
Liabilities exceed assets: shareholders’ equity is negative (−$8.1M).
Both columns are drawn to the same scale: what RGFC owns equals what it owes plus shareholders’ equity. Hover a block for its value.
RGFC financial health
Descriptive bands, not a rating. Fiscal 2022.
RGFC balance sheet trends, 2019–2022
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $15.3M2019 | $131.4M2022 | +104.8%/yr | |
| Total liabilities | $30.0M2019 | $139.5M2022 | +66.8%/yr | |
| Shareholders’ equity | −$14.7M2019 | $35.1M2022 | — | |
| Cash & short-term investments | $388,0002019 | $5.3M2022 | +138.7%/yr | |
| Total debt | $26.4M2019 | $108.7M2022 | +60.2%/yr | |
| Net cash (debt) | −$26.1M2019 | −$103.5M2022 | −$77.4M | |
| Working capital | $7.1M2019 | $32.9M2022 | +$25.8M | |
| Book value per share | −$4.892020 | $5.682022 | — | |
| Current ratio | 2.382019 | 1.992022 | −0.39 | |
| Debt / equity | 0.952021 | 3.092022 | +2.14 | |
| Shares outstanding | 6.2M2020 | 6.2M2022 | +0.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
RGFC assets
RGFC liabilities and equity
RGFC debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
RGFC balance sheet
| 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|
| Assets | ||||
| Cash & short-term investments | $5.3M | $27.4M | $28,000 | $388,000 |
| Cash & equivalents | $5.3M | $27.4M | $28,000 | $388,000 |
| Receivables | $20.3M | $9.0M | $3.5M | $2.5M |
| Inventory | $39.5M | $16.6M | $8.4M | $9.0M |
| Other current assets | $1.0M | $9.9M | $37,000 | $355,000 |
| Total current assets | $66.1M | $63.0M | $12.0M | $12.2M |
| Property, plant & equipment (net) | $49.4M | $22.4M | $1.8M | $2.2M |
| Goodwill & intangible assets | $12.5M | $12.5M | $0 | $0 |
| Long-term investments | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.5M | $4.3M | $1.7M | $893,000 |
| Total assets | $131.4M | $102.1M | $15.5M | $15.3M |
| Liabilities | ||||
| Accounts payable | $23.4M | $15.2M | $4.8M | $2.7M |
| Short-term debt | $5.1M | $2.8M | $3.1M | $1.5M |
| Deferred revenue | — | $6.8M | — | $320,000 |
| Total current liabilities | $33.2M | $31.6M | $8.6M | $5.2M |
| Long-term debt | $69.5M | $24.8M | $0 | $0 |
| Lease obligations | $38.9M | $12.6M | — | — |
| Other long-term liabilities | $36.8M | $14.8M | $37.1M | $24.9M |
| Total liabilities | $139.5M | $71.2M | $45.6M | $30.0M |
| Shareholders' equity | ||||
| Common stock & paid-in capital | $3,000 | $3,000 | $1.0M | $870,000 |
| Retained earnings (deficit) | −$21.1M | −$10.1M | −$39.2M | −$23.7M |
| Accumulated other comprehensive income | $0 | — | — | — |
| Minority interest | −$43.3M | −$8.6M | — | — |
| Total shareholders' equity | $35.1M | $39.6M | −$30.2M | −$14.7M |
| Key figures | ||||
| Total debt | $108.7M | $37.7M | $40.2M | $26.4M |
| Net cash (debt) | −$103.5M | −$10.3M | −$40.1M | −$26.1M |
| Working capital | $32.9M | $31.3M | $3.4M | $7.1M |
| Tangible book value | $22.7M | $27.1M | −$30.2M | −$14.7M |
| Book value per share | $5.68 | $6.41 | −$4.89 | — |
| Shares outstanding | 6.2M | 6.2M | 6.2M | — |
| Current ratio | 1.99 | 1.99 | 1.40 | 2.38 |
| Quick ratio | 0.77 | 1.15 | 0.42 | 0.57 |
| Debt / equity | 3.09 | 0.95 | — | — |
| Equity / assets | 26.7% | 38.7% | −195.0% | −96.4% |
| Sep '23 | Jun '23 | Mar '23 | Sep '22 | Jun '22 | Mar '22 | Dec '21 | Sep '21 | Jun '21 | Dec '20 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $78,000 | $692,000 | $550,000 | $3.0M | $10.3M | $12.1M | $27.4M | $1.6M | $654,000 | $28,000 |
| Cash & equivalents | $78,000 | $692,000 | $550,000 | $3.0M | $10.3M | $12.1M | $27.4M | $1.6M | $654,000 | $28,000 |
| Receivables | $29.8M | $22.9M | $19.9M | $17.5M | $13.4M | $6.9M | $9.0M | $5.7M | $4.6M | $3.5M |
| Inventory | $58.1M | $51.2M | $45.4M | $35.1M | $32.7M | $20.5M | $16.6M | $9.9M | $5.2M | $8.4M |
| Other current assets | $2.6M | $1.9M | $1.3M | $5.3M | $5.3M | $9.2M | $9.9M | $580,000 | $208,000 | $37,000 |
| Total current assets | $90.6M | $76.7M | $67.1M | $61.0M | $61.7M | $48.6M | $63.0M | $17.9M | $10.7M | $12.0M |
| Property, plant & equipment (net) | $45.1M | $46.3M | $48.1M | $46.4M | $44.0M | $34.3M | $22.4M | $11.3M | $10.3M | $1.8M |
| Goodwill & intangible assets | $12.5M | $12.5M | $12.5M | $12.5M | $12.5M | $12.5M | $12.5M | $12.5M | $12.5M | $0 |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $3.5M | $3.3M | $3.4M | $3.6M | $3.2M | $3.2M | $4.3M | $2.1M | $1.2M | $1.7M |
| Total assets | $151.7M | $138.9M | $131.1M | $123.5M | $121.4M | $98.7M | $102.1M | $43.8M | $34.7M | $15.5M |
| Liabilities | ||||||||||
| Accounts payable | $46.0M | $29.2M | $22.9M | $19.2M | $19.1M | $20.3M | $15.2M | $9.9M | $6.0M | $4.8M |
| Short-term debt | $6.9M | $10.7M | $9.9M | $7.4M | $7.8M | $3.3M | $1.6M | $43.1M | $37.7M | $3.1M |
| Deferred revenue | — | — | — | $1.5M | $4.7M | — | $6.8M | $3.6M | $2.7M | — |
| Total current liabilities | $58.2M | $38.1M | $30.6M | $25.5M | $28.7M | $27.0M | $31.6M | $57.9M | $47.8M | $8.6M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other long-term liabilities | $137.2M | $133.3M | $120.5M | $95.5M | $78.9M | $48.6M | $39.5M | $38.3M | $27.4M | $37.1M |
| Total liabilities | $195.4M | $171.4M | $151.1M | $121.1M | $107.6M | $75.5M | $71.2M | $96.1M | $75.2M | $45.6M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $3,000 | $1.0M | $1.0M | $1.0M |
| Retained earnings (deficit) | −$33.4M | −$29.0M | −$24.8M | −$18.2M | −$15.1M | −$12.4M | −$10.1M | −$61.4M | −$49.6M | −$39.2M |
| Accumulated other comprehensive income | — | — | $0 | $0 | $0 | $0 | — | — | — | — |
| Total shareholders' equity | $28.6M | $31.1M | $33.2M | $36.7M | $38.0M | $39.0M | $39.6M | −$52.3M | −$40.5M | −$30.2M |
| Key figures | ||||||||||
| Total debt | $143.6M | $136.4M | $130.3M | $96.6M | $79.9M | $59.9M | $37.7M | $67.9M | $51.3M | $40.2M |
| Net cash (debt) | −$143.5M | −$135.7M | −$129.7M | −$93.6M | −$69.5M | −$47.8M | −$10.3M | −$66.2M | −$50.7M | −$40.1M |
| Working capital | $32.4M | $38.6M | $36.5M | $35.4M | $33.0M | $21.7M | $31.3M | −$40.0M | −$37.1M | $3.4M |
| Tangible book value | $16.1M | $18.6M | $20.7M | $24.2M | $25.5M | $26.5M | $27.1M | −$64.8M | −$53.0M | −$30.2M |
| Book value per share | — | $4.31 | $4.75 | $5.93 | $6.16 | $6.31 | $6.41 | −$8.72 | −$6.56 | −$4.89 |
| Shares outstanding | — | 7.2M | 7.0M | 6.2M | 6.2M | 6.2M | 6.2M | 6.0M | 6.2M | 6.2M |
| Current ratio | 1.56 | 2.01 | 2.19 | 2.39 | 2.15 | 1.80 | 1.99 | 0.31 | 0.22 | 1.40 |
| Quick ratio | 0.51 | 0.62 | 0.67 | 0.80 | 0.83 | 0.70 | 1.15 | 0.13 | 0.11 | 0.42 |
| Debt / equity | 5.02 | 4.39 | 3.92 | 2.64 | 2.10 | 1.54 | 0.95 | — | — | — |
| Equity / assets | 18.9% | 22.4% | 25.4% | 29.7% | 31.3% | 39.5% | 38.7% | −119.5% | −116.9% | −195.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 28, 2023); data from EODHD.
RGFC financial position
At the end of fiscal 2022 (December 31, 2022), Real Good Food had total assets of $131.4 million (up 28.7% from a year earlier), total liabilities of $139.5 million and shareholders' equity of $35.1 million. It held $5.3 million in cash and short-term investments against $108.7 million of debt, net debt of $103.5 million. Its current ratio was 1.99. In the latest quarter (ended September 30, 2023) total assets were $151.7 million and equity $28.6 million.
Related: RGFC income statement, RGFC cash flow statement, RGFC key metrics. See the RGFC stock overview for the latest quote and news.
RGFC balance sheet FAQ
What are Real Good Food's total assets?
Real Good Food reported total assets of $131.4 million at the end of fiscal 2022 (December 31, 2022), compared with $102.1 million a year earlier.
How much debt does Real Good Food have?
Real Good Food had $108.7 million of total debt at the end of fiscal 2022, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 3.09.
How much cash does Real Good Food have?
Real Good Food held $5.3 million in cash and short-term investments at the end of fiscal 2022; with $108.7 million of debt that is net debt of $103.5 million.
What is Real Good Food's book value?
Real Good Food's shareholders' equity (book value) was $35.1 million at the end of fiscal 2022, or $5.68 per share.
What is Real Good Food's current ratio?
Real Good Food had current assets of $66.1 million and current liabilities of $33.2 million, a current ratio of 1.99 (it can cover its short-term obligations).
How much goodwill does Real Good Food have?
Real Good Food carried $12.5 million of goodwill and intangible assets, 9.5% of total assets, at the end of fiscal 2022.