CBL International Ltd key statistics and ratios

In fiscal 2025, CBL International Ltd had return on equity of -14.0%, an operating margin of -0.5%, debt equal to 9.5% of equity and a current ratio of 1.35. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

CBL International Ltd: financial ratios, annual
Fiscal year	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Gross margin	2.3%	2.0%	1.7%	0.9%	0.8%
Operating margin	1.3%	1.0%	0.4%	−0.6%	−0.5%
Net margin	1.1%	0.8%	0.3%	−0.7%	−0.6%
Free-cash-flow margin	−0.8%	0.7%	−2.5%	−0.4%	0.7%
Return on equity	42.4%	35.9%	6.1%	−16.1%	−14.0%
Return on assets	13.2%	14.0%	2.9%	−6.3%	−4.1%
Asset turnover	12.10	17.60	11.03	9.65	7.43
Current ratio	1.44	1.79	1.86	1.47	1.35
Debt to equity	0.0%	0.0%	0.0%	5.9%	9.5%
Interest cover (operating income ÷ interest)	—	18.3x	7.2x	n/m	n/m
Effective tax rate	15.5%	18.1%	20.9%	—	—
Capital spending as % of revenue	0.0%	0.1%	0.2%	0.0%	0.0%
Free cash flow ÷ net income	−70.8%	84.8%	−954.1%	—	—
Dividends and buybacks ÷ free cash flow	—	—	—	—	1.2%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

2 of 3 checks passed · December 31, 2025

What it owns · $76m

Short-term assets $75mLonger-term assets $1m

What it owes, and who funded it · $76m

Short-term liabilities $56mLonger-term liabilities $0mShareholders' equity $20m

Short-term assets cover short-term liabilities $75m of assets due within a year against $56m of liabilities due within a year.
Short-term assets cover long-term liabilities $75m short-term assets against $70,538 of longer-dated liabilities.
More cash than debt Cash or debt not separately reported. Not assessable.
Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
Operating profit covers interest at least five times over Operating income of −$2m against $744,436 of interest.

From CBL International Ltd's latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

Not assessed: fewer than five years of comparable figures in the filings. AI disruption exposure for this industry: Low.

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

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Figures from CBL International Ltd's SEC filings (10-K and 10-Q). How we read and check them: methodology and data sources. Not investment advice. Back to CBL International Ltd.