J-Star Holding Co., Ltd. (YMAT) Balance Sheet
YMAT balance sheet, 2025
December 31, 2025 · U.S. dollars$7.2M assets = $13.9M liabilities + −$6.8M equity
Liabilities exceed assets: shareholders’ equity is negative (−$6.8M).
Both columns are drawn to the same scale: what YMAT owns equals what it owes plus shareholders’ equity. Hover a block for its value.
YMAT financial health
Descriptive bands, not a rating. Fiscal 2025.
YMAT balance sheet trends, 2020–2025
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $28.6M2020 | $7.2M2025 | −24.2%/yr | |
| Total liabilities | $19.4M2020 | $13.9M2025 | −6.4%/yr | |
| Shareholders’ equity | $9.2M2020 | −$6.8M2025 | — | |
| Cash & short-term investments | $2.1M2020 | $552,8022025 | −23.5%/yr | |
| Total debt | $4.6M2020 | $12.7M2025 | +22.6%/yr | |
| Net cash (debt) | −$2.5M2020 | −$12.2M2025 | −$9.7M | |
| Working capital | $3.0M2020 | −$7.3M2025 | −$10.3M | |
| Book value per share | $2.522020 | −$1.972025 | — | |
| Current ratio | 1.162020 | 0.432025 | −0.73 | |
| Debt / equity | 0.502020 | 0.782024 | +0.29 | |
| Shares outstanding | 3.7M2020 | 3.4M2025 | −1.2%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
YMAT assets
YMAT liabilities and equity
YMAT debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
YMAT balance sheet
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|
| Assets | ||||||
| Cash & short-term investments | $552,802 | $649,106 | $559,462 | $2.9M | $3.1M | $2.1M |
| Cash & equivalents | $552,802 | $649,106 | $559,462 | $2.9M | $2.9M | $1.4M |
| Short-term investments | — | — | — | $302,228 | $273,004 | $701,282 |
| Receivables | $3.6M | $8.8M | $4.0M | $4.5M | $4.5M | $6.0M |
| Inventory | $1.0M | $555,680 | $187,602 | $19.2M | $23.0M | $11.7M |
| Other current assets | $444,701 | $2.7M | $1.8M | $2.9M | $2.4M | $1.9M |
| Total current assets | $5.6M | $12.7M | $6.5M | $29.4M | $33.1M | $21.7M |
| Property, plant & equipment (net) | $952,771 | $1.0M | $1.1M | $9.8M | $5.7M | $4.5M |
| Goodwill & intangible assets | $162,470 | $2,572 | $11,766 | $12,609 | $14,021 | $21,816 |
| Long-term investments | $0 | $1.8M | $1.8M | $21,758 | $21,758 | $0 |
| Other non-current assets | $432,452 | $8.9M | $11.7M | $1.5M | $1.6M | $2.5M |
| Total assets | $7.2M | $24.4M | $21.1M | $40.7M | $40.4M | $28.6M |
| Liabilities | ||||||
| Accounts payable | $180,954 | $209,567 | $193,767 | $5.1M | $6.1M | $3.7M |
| Short-term debt | $11.7M | $9.2M | $7.1M | $8.4M | $6.1M | $4.0M |
| Deferred revenue | $60,906 | $107,786 | $276,210 | $647,308 | $380,271 | $601,351 |
| Total current liabilities | $12.9M | $10.4M | $8.3M | $28.1M | $29.9M | $18.6M |
| Long-term debt | $1.0M | $995,290 | $920,541 | $339,145 | $1.1M | $0 |
| Lease obligations | $82,078 | $163,775 | $105,745 | $4.5M | $498,280 | — |
| Other long-term liabilities | $4,187 | $10,982 | $20,405 | $2.4M | $185,948 | $754,471 |
| Total liabilities | $13.9M | $11.4M | $9.2M | $30.8M | $31.2M | $19.4M |
| Shareholders' equity | ||||||
| Common stock & paid-in capital | $8.6M | $7.9M | $7.9M | $7.9M | $6.8M | $6.8M |
| Retained earnings (deficit) | −$24.3M | −$3.2M | −$4.3M | −$5.8M | −$5.9M | −$5.8M |
| Accumulated other comprehensive income | −$350,286 | $507,453 | $596,363 | $198,575 | −$177,754 | −$231,652 |
| Total shareholders' equity | −$6.8M | $13.0M | $11.9M | $9.9M | $9.3M | $9.2M |
| Key figures | ||||||
| Total debt | $12.7M | $10.2M | $8.1M | $11.2M | $7.3M | $4.6M |
| Net cash (debt) | −$12.2M | −$9.6M | −$7.5M | −$8.2M | −$4.1M | −$2.5M |
| Working capital | −$7.3M | $2.3M | −$1.8M | $1.3M | $3.2M | $3.0M |
| Tangible book value | −$6.9M | $13.0M | $11.8M | $9.9M | $9.3M | $9.2M |
| Book value per share | −$1.97 | $3.82 | $3.48 | $2.67 | $2.35 | $2.52 |
| Shares outstanding | 3.4M | 3.4M | 3.4M | 3.7M | 4.0M | 3.7M |
| Current ratio | 0.43 | 1.23 | 0.78 | 1.05 | 1.11 | 1.16 |
| Quick ratio | 0.32 | 0.91 | 0.55 | 0.26 | 0.26 | 0.43 |
| Debt / equity | — | 0.78 | 0.68 | 1.13 | 0.78 | 0.50 |
| Equity / assets | −94.7% | 53.3% | 56.2% | 24.3% | 22.9% | 32.2% |
| Mar '26 | Dec '25 | Sep '25 | Jun '25 | Dec '24 | Jun '24 | Dec '23 | |
|---|---|---|---|---|---|---|---|
| Assets | |||||||
| Cash & short-term investments | $552,802 | $97,669 | $1.5M | $909,995 | $649,106 | $1.1M | $920,711 |
| Cash & equivalents | $552,802 | $97,669 | $1.5M | $909,995 | $649,106 | $1.1M | $608,886 |
| Short-term investments | — | — | — | — | — | — | $311,825 |
| Receivables | $3.6M | $3.6M | $15.6M | $13.0M | $8.8M | $4.8M | $4.0M |
| Inventory | $1.0M | $1.0M | $830,461 | $830,461 | $555,680 | $293,045 | $187,602 |
| Other current assets | $444,701 | $902,472 | $2.9M | $7.8M | $2.7M | $2.8M | $1.4M |
| Total current assets | $5.6M | $5.6M | $20.8M | $22.6M | $12.7M | $9.0M | $6.5M |
| Property, plant & equipment (net) | $952,771 | $952,771 | $715,909 | $715,909 | $1.0M | $956,227 | $1.1M |
| Goodwill & intangible assets | $162,470 | $0 | $15,557 | $0 | $2,572 | $9,594 | $11,766 |
| Long-term investments | $0 | $0 | $0 | $1.8M | $1.8M | $1.8M | $1.8M |
| Other non-current assets | $432,452 | $594,922 | $12.8M | $9.2M | $8.9M | $11.5M | $11.7M |
| Total assets | $7.2M | $7.2M | $34.3M | $34.3M | $24.4M | $23.2M | $21.1M |
| Liabilities | |||||||
| Accounts payable | $180,954 | $180,954 | $5.8M | $5.8M | $209,567 | $367,609 | $193,767 |
| Short-term debt | $11.7M | — | $13.8M | — | $9.2M | $9.2M | $7.1M |
| Deferred revenue | $60,906 | — | $193,583 | — | $107,786 | $224,122 | $276,210 |
| Total current liabilities | $12.9M | $12.9M | $20.2M | $20.2M | $10.4M | $10.2M | $8.3M |
| Long-term debt | $0 | $1.0M | $0 | $1.1M | $995,290 | $630,739 | $920,541 |
| Lease obligations | — | $82,078 | — | $183,420 | $163,775 | $42,666 | $105,745 |
| Other long-term liabilities | $1.0M | $4,187 | $1.1M | $56,639 | $10,982 | $20,405 | $20,405 |
| Total liabilities | $13.9M | $13.9M | $21.3M | $21.3M | $11.4M | $10.9M | $9.2M |
| Shareholders' equity | |||||||
| Common stock & paid-in capital | $8.6M | — | $7.9M | — | $7.9M | $7.9M | $7.9M |
| Retained earnings (deficit) | −$24.3M | −$24.3M | −$3.2M | −$3.2M | −$3.2M | −$3.9M | −$4.3M |
| Accumulated other comprehensive income | −$350,286 | — | $429,333 | — | $507,453 | $561,837 | $596,363 |
| Total shareholders' equity | −$6.8M | −$6.8M | $13.0M | $13.0M | $13.0M | $12.4M | $11.9M |
| Key figures | |||||||
| Total debt | $12.7M | $1.0M | $14.9M | $1.1M | $10.2M | $9.8M | $8.1M |
| Net cash (debt) | −$12.2M | −$929,969 | −$13.4M | −$162,034 | −$9.6M | −$8.7M | −$7.1M |
| Working capital | −$7.3M | −$7.3M | $607,382 | $2.4M | $2.3M | −$1.2M | −$1.8M |
| Tangible book value | −$6.9M | −$6.8M | $13.0M | $13.0M | $13.0M | $12.4M | $11.8M |
| Book value per share | — | — | $3.78 | — | $3.82 | $3.63 | $3.34 |
| Shares outstanding | — | — | 3.4M | — | 3.4M | 3.4M | 3.6M |
| Current ratio | 0.43 | 0.43 | 1.03 | 1.12 | 1.23 | 0.88 | 0.78 |
| Quick ratio | 0.32 | 0.28 | 0.85 | 0.69 | 0.91 | 0.58 | 0.59 |
| Debt / equity | — | — | 1.15 | 0.08 | 0.78 | 0.79 | 0.68 |
| Equity / assets | −94.7% | −94.7% | 37.9% | 37.9% | 53.3% | 53.2% | 56.2% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed April 30, 2026); data from EODHD.
YMAT financial position
At the end of fiscal 2025 (December 31, 2025), J-Star had total assets of $7.2 million (down 70.6% from a year earlier), total liabilities of $13.9 million and shareholders' equity of -$6.8 million. It held $0.6 million in cash and short-term investments against $12.7 million of debt, net debt of $12.2 million. Its current ratio was 0.43. In the latest quarter (ended March 31, 2026) total assets were $7.2 million and equity -$6.8 million.
Related: YMAT income statement, YMAT cash flow statement, YMAT key metrics. See the YMAT stock overview for the latest quote and news.
YMAT balance sheet FAQ
What are J-Star's total assets?
J-Star reported total assets of $7.2 million at the end of fiscal 2025 (December 31, 2025), compared with $24.4 million a year earlier.
How much debt does J-Star have?
J-Star had $12.7 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was —.
How much cash does J-Star have?
J-Star held $0.6 million in cash and short-term investments at the end of fiscal 2025; with $12.7 million of debt that is net debt of $12.2 million.
What is J-Star's book value?
J-Star's shareholders' equity (book value) was -$6.8 million at the end of fiscal 2025, or −$1.97 per share.
What is J-Star's current ratio?
J-Star had current assets of $5.6 million and current liabilities of $12.9 million, a current ratio of 0.43 (current liabilities exceed current assets).
How much goodwill does J-Star have?
J-Star carried $0.2 million of goodwill and intangible assets, 2.3% of total assets, at the end of fiscal 2025.