Income Statement Davis Commodities Limited

Stocks

DTCK.F

KYG2677P1138

Investment Holding Companies

Market Closed - OTC Markets 13:32:37 2026-09-23 EDT			5-day change	1st Jan Change
0.2790 ^USD	-10.06%		-.--%	-95.40%

05-15	Davis Commodities Limited Reports Earnings Results for the Full Year Ended December 31, 2025	CI
05-14	Davis Commodities Limited Auditor Raises 'Going Concern' Doubt	CI

2.oNwz9lxYyyZbRAxwF6E8_EU_4awlSBEQN2i2e1rgJ-4.wpp_wjcpvWsSNSEAevNWzxBy1Nx8MF92RzvfOjWTVKXYlGefMTP6SDoLWQ

Published financial data: DAVIS COMMODITIES LIMITED

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Revenues	194M	207M	191M	132M	184M
Total Revenues	194M	207M	191M	132M	184M
Cost of Goods Sold, Total	182M	194M	184M	130M	181M
Gross Profit	12.24M	12.88M	7.03M	2.32M	2.87M
Selling General & Admin Expenses, Total	7.27M	7.59M	5.88M	6.02M	8.07M
Other Operating Expenses, Total	7.27M	7.59M	5.88M	6.02M	8.07M
Operating Income	4.98M	5.28M	1.15M	-3.7M	-5.2M
Interest Expense, Total	-48K	-33K	-110K	-133K	-442K
Interest And Investment Income	-	-	-	384K	384K
Net Interest Expenses	-48K	-33K	-110K	251K	-58K
Other Non Operating Income (Expenses)	671K	285K	198K	98K	223K
EBT, Excl. Unusual Items	5.6M	5.54M	1.24M	-3.35M	-5.04M
EBT, Incl. Unusual Items	5.6M	5.54M	1.24M	-3.35M	-5.04M
Income Tax Expense	901K	920K	149K	178K	-
Earnings From Continuing Operations	4.7M	4.62M	1.09M	-3.53M	-5.04M
Net Income to Company	4.7M	4.62M	1.09M	-3.53M	-5.04M
Net Income - (IS)	4.7M	4.62M	1.09M	-3.53M	-5.04M
Net Income to Common Incl Extra Items	4.7M	4.62M	1.09M	-3.53M	-5.04M
Net Income to Common Excl. Extra Items	4.7M	4.62M	1.09M	-3.53M	-5.04M
Per Share Items
Net EPS - Basic	4.04	3.97	0.89	-2.88	-4.11
Basic EPS - Continuing Operations	4.04	3.97	0.89	-2.88	-4.11
Basic Weighted Average Shares Outstanding	1.16M	1.16M	1.23M	1.23M	1.23M
Net EPS - Diluted	4.04	3.97	0.89	-2.88	-4.11
Diluted EPS - Continuing Operations	4.04	3.97	0.89	-2.88	-4.11
Diluted Weighted Average Shares Outstanding	1.16M	1.16M	1.23M	1.23M	1.23M
Normalized Basic EPS	3.01	2.98	0.63	-1.71	-2.57
Normalized Diluted EPS	3.01	2.98	0.63	-1.71	-2.57
Payout Ratio	-	65.03	-	-	-
Supplemental Items
EBITDA	5.03M	5.34M	1.21M	-3.6M	-5.14M
EBITA	4.98M	5.28M	1.15M	-3.7M	-5.2M
EBIT	4.98M	5.28M	1.15M	-3.7M	-5.2M
EBITDAR	-	5.38M	1.25M	-3.56M	-5.1M
Effective Tax Rate - (Ratio)	16.09	16.62	12.06	-5.31	-
Current Domestic Taxes	901K	-	-	-	-
Total Current Taxes	901K	920K	150K	15K	-
Total Deferred Taxes	-	-	-1K	-	-
Normalized Net Income	3.5M	3.46M	772K	-2.09M	-3.15M
Interest on Long-Term Debt	-	-	-	133K	119K
Supplemental Operating Expense Items
Selling and Marketing Expenses	5.4M	5.31M	2.44M	1.72M	1.69M
General and Administrative Expenses	1.87M	2.29M	3.44M	4.3M	6.38M
Net Rental Expense, Total	-	39K	40K	40K	41K
Imputed Operating Lease Interest Expense	-	21.03K	27.99K	30.02K	71.31K
Imputed Operating Lease Depreciation	-	17.97K	12.01K	9.98K	-30.31K
Stock-Based Comp., Other (Total)	-	-	-	-	871K
Total Stock-Based Compensation	-	-	-	-	871K

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Assets
Cash And Equivalents	7.09M	2.54M	1.33M	678K	1.4M
Short Term Investments	11K	11K	11K	6K	11K
Total Cash And Short Term Investments	7.1M	2.55M	1.34M	684K	1.41M
Accounts Receivable, Total	12.87M	4.66M	15.27M	7.69M	10.69M
Other Receivables	-	21K	103K	374K	40K
Notes Receivable	2.33M	3.3M	-	-	6M
Total Receivables	15.2M	7.98M	15.37M	8.07M	16.73M
Inventory	95K	2.18M	537K	319K	189K
Other Current Assets, Total	1.82M	4.8M	6.02M	3.14M	2.49M
Total Current Assets	24.22M	17.5M	23.26M	12.21M	20.83M
Gross Property Plant And Equipment	881K	895K	1.3M	1.31M	1.05M
Accumulated Depreciation	-438K	-496K	-595K	-691K	-525K
Net Property Plant And Equipment	443K	399K	706K	615K	524K
Loans Receivable Long-Term	-	-	5.91M	5.97M	-
Other Long-Term Assets, Total	-	-	-	891K	-
Total Assets	24.66M	17.9M	29.88M	19.69M	21.35M
Liabilities
Accounts Payable, Total	15.34M	5.1M	14.32M	9.13M	11.72M
Accrued Expenses, Total	1.43M	479K	675K	1.15M	846K
Short-term Borrowings	-	-	1.1M	545K	2.87M
Current Portion of Long-Term Debt	47K	157K	207K	219K	104K
Current Portion of Leases	38K	-	65K	66K	31K
Current Income Taxes Payable	939K	1.36M	713K	35K	10K
Unearned Revenue Current, Total	-	2.05M	-	-	-
Other Current Liabilities	4.58M	2.22M	2.08M	541K	2.06M
Total Current Liabilities	22.38M	11.36M	19.16M	11.69M	17.65M
Long-Term Debt	209K	528K	323K	103K	3K
Long-Term Leases	-	-	139K	72K	49K
Deferred Tax Liability Non Current	1K	1K	-	-	-
Other Non Current Liabilities	-	-	-	1.1M	1.1M
Total Liabilities	22.59M	11.89M	19.62M	12.96M	18.8M
Additional Paid In Capital	1.11M	-	3.15M	3.15M	4.02M
Retained Earnings	952K	4.9M	5.98M	2.45M	-2.58M
Comprehensive Income and Other	7K	1.12M	1.13M	1.12M	1.12M
Total Common Equity	2.07M	6.01M	10.26M	6.73M	2.56M
Total Equity	2.07M	6.01M	10.26M	6.73M	2.56M
Total Liabilities And Equity	24.66M	17.9M	29.88M	19.69M	21.35M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	-	1.16M	1.23M	1.23M	1.37M
ECS Total Common Shares Outstanding	-	1.16M	1.23M	1.23M	1.37M
Book Value / Share	-	5.17	8.37	5.49	1.87
Tangible Book Value	2.07M	6.01M	10.26M	6.73M	2.56M
Tangible Book Value Per Share	-	5.17	8.37	5.49	1.87
Total Debt	294K	685K	1.83M	1M	3.06M
Net Debt	-6.8M	-1.87M	489K	321K	1.65M
Debt Equivalent Oper. Leases	-	312K	320K	320K	328K
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Finished Goods, Total	95K	2.18M	553K	319K	189K
Machinery, Total	40K	49K	288K	50K	50K
Full Time Employees	15	15	22	21	23
Accumulated Allowance for Doubtful Accounts (Supple)	-	-	500K	150K	362K

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Net Income	4.7M	4.62M	1.09M	-3.53M	-5.04M
Depreciation & Amortization - CF	54K	58K	62K	96K	56K
Depreciation & Amortization, Total	54K	58K	62K	96K	56K
Stock-Based Compensation (CF)	-	-	-	-	871K
Provision and Write-off of Bad Debts	-	218K	502K	254K	1.79M
Other Operating Activities, Total	-394K	-23K	38K	-237K	568K
Change In Accounts Receivable	-11.14M	4.15M	-10.81M	9.4M	-2.32M
Change In Inventories	241K	-2.08M	1.62M	218K	129K
Change In Accounts Payable	10.43M	-8.73M	8.25M	-6.22M	3.22M
Change In Income Taxes	910K	419K	-645K	-678K	-25K
Change in Other Net Operating Assets	-1.59M	-570K	1.7M	-78K	-294K
Cash from Operations	3.22M	-1.95M	1.81M	-777K	-1.03M
Capital Expenditure	-11K	-14K	-296K	-5K	-2K
Other Investing Activities, Total	53K	56K	88K	-	-
Cash from Investing	42K	42K	-208K	-5K	-2K
Long-Term Debt Issued, Total	256K	575K	144K	453K	29.38M
Total Debt Issued	256K	575K	144K	453K	29.38M
Short Term Debt Repaid, Total	-157K	-	-	-	-
Long-Term Debt Repaid, Total	-2.08M	-184K	-169K	-237K	-26.42M
Total Debt Repaid	-2.23M	-184K	-169K	-237K	-26.42M
Issuance of Common Stock	-	-	3.15M	-	-
Common Dividends Paid	-	-3M	-	-	-
Common & Preferred Stock Dividends Paid	-	-3M	-	-	-
Other Financing Activities, Total	-48K	-33K	-5.94M	-86K	-1.2M
Cash from Financing	-2.03M	-2.64M	-2.81M	130K	1.76M
Net Change in Cash	1.23M	-4.55M	-1.21M	-652K	723K
Supplemental Items
Cash Interest Paid	48K	33K	28K	86K	379K
Cash Income Tax Paid (Refund)	-9K	9K	791K	856K	22K
Levered Free Cash Flow	6.65M	-5.6M	29.12K	1.16M	-6.71M
Unlevered Free Cash Flow	6.68M	-5.58M	97.88K	1.25M	-6.44M
Change In Net Working Capital	-3.52M	8.92M	385K	-3.47M	4.11M
Net Debt Issued / Repaid	-1.98M	391K	-25K	216K	2.96M

Fiscal Period: December	2021 (USD)	2022 (USD)	2023 (USD)	2024 (USD)	2025 (USD)
Profitability
Return on Assets	16.68	15.52	3	-9.33	-15.84
Return on Total Capital	88.08	72.86	7.63	-23.34	-48.69
Return On Equity %	208.98	114.16	13.35	-41.55	-108.48
Return on Common Equity	208.98	114.16	13.35	-41.55	-108.48
Margin Analysis
Gross Profit Margin %	6.3	6.23	3.69	1.76	1.56
SG&A Margin	3.74	3.67	3.08	4.55	4.38
EBITDA Margin %	2.59	2.58	0.63	-2.72	-2.79
EBITA Margin %	2.56	2.56	0.6	-2.8	-2.82
EBIT Margin %	2.56	2.56	0.6	-2.8	-2.82
Income From Continuing Operations Margin %	2.42	2.23	0.57	-2.67	-2.73
Net Income Margin %	2.42	2.23	0.57	-2.67	-2.73
Net Avail. For Common Margin %	2.42	2.23	0.57	-2.67	-2.73
Normalized Net Income Margin	1.8	1.67	0.4	-1.58	-1.71
Levered Free Cash Flow Margin	3.42	-2.71	0.02	0.88	-3.64
Unlevered Free Cash Flow Margin	3.44	-2.7	0.05	0.94	-3.49
Asset Turnover
Asset Turnover	10.41	9.71	7.98	5.34	8.98
Fixed Assets Turnover	418.17	491.01	345.2	200.41	323.47
Receivables Turnover (Average Receivables)	23.04	23.59	19.15	11.53	20.04
Inventory Turnover (Average Inventory)	844.52	170.71	135.42	303.84	713.97
Short Term Liquidity
Current Ratio	1.08	1.54	1.21	1.04	1.18
Quick Ratio	0.89	0.64	0.87	0.75	0.69
Operating Cash Flow to Current Liabilities	0.14	-0.17	0.09	-0.07	-0.06
Days Sales Outstanding (Average Receivables)	15.84	15.47	19.06	31.74	18.21
Days Outstanding Inventory (Average Inventory)	0.43	2.14	2.7	1.2	0.51
Average Days Payable Outstanding	20.97	19.04	19.47	33.06	21
Cash Conversion Cycle (Average Days)	-4.7	-1.43	2.29	-0.12	-2.28
Long Term Solvency
Total Debt/Equity	14.19	11.39	17.84	14.94	119.76
Total Debt / Total Capital	12.43	10.23	15.14	13	54.5
LT Debt/Equity	10.09	8.78	4.5	2.6	2.03
Long-Term Debt / Total Capital	8.83	7.88	3.82	2.26	0.93
Total Liabilities / Total Assets	91.6	66.41	65.67	65.83	88.03
EBIT / Interest Expense	103.71	160.09	10.43	-27.82	-11.76
EBITDA / Interest Expense	104.83	161.85	11.35	-26.8	-11.64
(EBITDA - Capex) / Interest Expense	104.6	161.42	8.66	-26.83	-11.64
Total Debt / EBITDA	0.06	0.13	1.47	-0.28	-0.6
Net Debt / EBITDA	-1.35	-0.35	0.39	-0.09	-0.32
Total Debt / (EBITDA - Capex)	0.06	0.13	1.92	-0.28	-0.59
Net Debt / (EBITDA - Capex)	-1.36	-0.35	0.51	-0.09	-0.32
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	47.57	6.42	-7.74	-30.6	39.17
Gross Profit, 1 Yr. Growth %	109.07	5.16	-45.41	-66.92	23.35
EBITDA, 1 Yr. Growth %	-20.23K	6.14	-77.21	-398.1	42.73
EBITA, 1 Yr. Growth %	-6.74K	6.13	-78.29	-422.58	40.54
EBIT, 1 Yr. Growth %	-6.74K	6.13	-78.29	-422.58	40.54
Earnings From Cont. Operations, 1 Yr. Growth %	930.7	-1.81	-76.47	-424.95	42.67
Net Income, 1 Yr. Growth %	930.7	-1.81	-76.47	-424.95	42.67
Normalized Net Income, 1 Yr. Growth %	1.05K	12.27	-77.69	-371.34	50.25
Diluted EPS Before Extra, 1 Yr. Growth %	930.7	-1.81	-77.67	-424.95	-53.5
Accounts Receivable, 1 Yr. Growth %	222.51	-63.82	227.9	-49.62	38.96
Inventory, 1 Yr. Growth %	-71.73	2.19K	-75.32	-40.6	-40.75
Net Property, Plant and Equip., 1 Yr. Growth %	-8.85	-9.93	76.94	-12.89	-14.8
Total Assets, 1 Yr. Growth %	94.96	-27.41	66.91	-34.11	8.45
Tangible Book Value, 1 Yr. Growth %	-14.59	190.2	70.6	-34.42	-62
Common Equity, 1 Yr. Growth %	-14.59	190.2	70.6	-34.42	-62
Cash From Operations, 1 Yr. Growth %	9.21	-160.53	-192.96	-142.95	32.56
Capital Expenditures, 1 Yr. Growth %	266.67	27.27	2.01K	-98.31	-60
Levered Free Cash Flow, 1 Yr. Growth %	-	-184.2	-100.52	3.89K	-676.96
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-183.51	-101.75	1.17K	-616.33
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	25.32	-0.91	-19.98	-1.72
Gross Profit, 2 Yr. CAGR %	-	48.28	-24.24	-57.51	-36.12
EBITDA, 2 Yr. CAGR %	-	1.36K	-50.98	-17.86	106.27
EBITA, 2 Yr. CAGR %	-	739.29	-52	-16.31	112.92
EBIT, 2 Yr. CAGR %	-	739.29	-52	-16.31	112.92
Earnings From Cont. Operations, 2 Yr. CAGR %	-	218.13	-51.93	-12.55	115.32
Net Income, 2 Yr. CAGR %	-	218.13	-51.93	-12.55	115.32
Normalized Net Income, 2 Yr. CAGR %	-	236.78	-49.95	-22.19	101.91
Diluted EPS Before Extra, 2 Yr. CAGR %	-	218.13	-53.17	-14.82	111.31
Accounts Receivable, 2 Yr. CAGR %	-	8.02	8.92	28.53	-16.33
Inventory, 2 Yr. CAGR %	-	154.48	137.75	-61.71	-40.67
Net Property, Plant and Equip., 2 Yr. CAGR %	-	-9.39	26.24	24.15	-13.85
Total Assets, 2 Yr. CAGR %	-	18.96	10.07	4.87	-15.47
Tangible Book Value, 2 Yr. CAGR %	-	57.43	122.5	5.77	-50.08
Common Equity, 2 Yr. CAGR %	-	57.43	122.5	5.77	-50.08
Cash From Operations, 2 Yr. CAGR %	-	-18.7	-24.99	-36.81	-24.54
Capital Expenditures, 2 Yr. CAGR %	-	116.02	418.74	-40.24	-91.78
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	-93.38	-54.41	1.42K
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	-87.89	-52.72	710.91
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	13.16	-12	-3.77
Gross Profit, 3 Yr. CAGR %	-	-	6.27	-42.52	-39.38
EBITDA, 3 Yr. CAGR %	-	-	264.33	-10.53	-1.24
EBITA, 3 Yr. CAGR %	-	-	148.22	-9.42	-0.53
EBIT, 3 Yr. CAGR %	-	-	148.22	-9.42	-0.53
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	33.54	-9.11	2.95
Net Income, 3 Yr. CAGR %	-	-	33.54	-9.11	2.95
Normalized Net Income, 3 Yr. CAGR %	-	-	36.27	-12.08	-3.11
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	31.23	-10.68	1.16
Accounts Receivable, 3 Yr. CAGR %	-	-	56.41	-15.76	31.92
Inventory, 3 Yr. CAGR %	-	-	16.92	49.75	-55.71
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	13.25	11.56	9.51
Total Assets, 3 Yr. CAGR %	-	-	33.18	-7.23	6.05
Tangible Book Value, 3 Yr. CAGR %	-	-	61.71	48.07	-24.81
Common Equity, 3 Yr. CAGR %	-	-	61.71	48.07	-24.81
Cash From Operations, 3 Yr. CAGR %	-	-	-14.98	-37.71	-19.11
Capital Expenditures, 3 Yr. CAGR %	-	-	362.09	-23.11	-47.72
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-44.07	6.24
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-42.85	4.89
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	6.95
Gross Profit, 5 Yr. CAGR %	-	-	-	-	-13.31
EBITDA, 5 Yr. CAGR %	-	-	-	-	190.18
EBITA, 5 Yr. CAGR %	-	-	-	-	133.45
EBIT, 5 Yr. CAGR %	-	-	-	-	133.45
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	61.66
Net Income, 5 Yr. CAGR %	-	-	-	-	61.66
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	59.48
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	59.98
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	21.78
Inventory, 5 Yr. CAGR %	-	-	-	-	-10.87
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	1.52
Total Assets, 5 Yr. CAGR %	-	-	-	-	11.04
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	1.05
Common Equity, 5 Yr. CAGR %	-	-	-	-	1.05
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-18.94
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	-7.79