DTCKF DAVIS COMMODITIES Ltd

Overview and Growth

DAVIS COMMODITIES Ltd generated $184.22M of revenue in fiscal 2025, with net loss of $5.04M and an operating cash outflow of $1.03M. At $184.22M, the top line establishes the operating scale supporting the company’s profit and cash-flow profile. The top line expanded 39.2% from $132.37M in fiscal 2024, increasing the company’s operating scale. The company employed $21.35M of total assets, the balance-sheet base supporting its current operating and cash-flow results. Asset turnover was 8.63x, relating the company’s annual revenue directly to the total assets reported at the period end.

Profitability

The first profit layer was $2.87M of gross profit, the amount available after reported direct revenue costs to absorb operating expenses. The gross-profit relationship equaled 1.6% of revenue, quantifying the portion retained before operating expenses were recognized. The company recorded an operating loss of $5.20M after the reported operating expense base. An operating margin of -2.8% reflected costs exceeding revenue-level gross profit by 2.8% of sales. The bottom-line result was a net loss of $5.04M after operating, financing, tax, and other recognized items. Net margin was -2.7%, reflecting a loss equal to 2.7% of reported revenue. The company reported negative EBITDA of $5.14M, adding a pre-interest, tax, depreciation, and amortization view of the operating shortfall. The company recognized $0.00 of income tax for the period, completing the transition from pretax income to net income. The net loss equaled 197.0% of period-end equity, showing the deficit relative to book capital. The loss-to-assets relationship was 23.6%, placing the bottom-line deficit against the company’s resource base. Compared with a $3.53M net loss in fiscal 2024, the current loss increased to $5.04M.

Liquidity and Capital Structure

At period end, the $21.35M asset base was financed through $18.80M of liabilities and $2.56M of equity. The near-term balance sheet paired $20.83M of current assets with $17.65M of current liabilities at the reporting date. At 1.18x, the current ratio shows that short-term assets were greater than short-term liabilities at period end. Cash and equivalents totaled $1.40M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 7.9% of current liabilities, showing how much near-term coverage came from cash alone. The equity-to-assets relationship was 12.0%, placing book capital against the total resource base. Liabilities represented 88.0% of total assets, quantifying the liability-funded share of the company’s resource base. Cash and equivalents equaled 6.6% of total assets, showing the liquid cash component within the company’s broader resource base. Compared with $19.69M in fiscal 2024, the current asset base moved 8.4% and finished higher. Reported equity changed 62.0% from $6.73M in fiscal 2024, placing the current capital base lower year over year. Cash and equivalents were 106.6% higher than fiscal 2024 cash of $678.00K, showing the year-over-year change in liquid resources.

Cash Flow and Earnings Quality

The company reported an operating cash outflow of $1.03M, rather than cash generation from operations. The company spent $2.00K on capital expenditures while operations also absorbed cash, so both ongoing activity and investment drew on liquidity during the period. Operating cash flow and capital spending combined to leave a $1.03M cash deficit after capital spending. The free-cash-flow deficit equaled 0.6% of revenue, showing the post-investment cash shortfall relative to sales. The free-cash-flow deficit equaled 4.8% of total assets, placing the cash shortfall against the company’s resource base. Cash absorbed by operations increased from $777.00K in fiscal 2024 to $1.03M.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 26, 2026.