Powell Max Ltd balance sheet

At the end of fiscal 2025, Powell Max Ltd had total assets of $5.4m, total liabilities of $2.2m and shareholders' equity of $3.2m. It held $881,366 in cash against $0 of debt: net cash of $881,366.

Balance sheet

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

Powell Max Ltd: balance sheet, annual
Fiscal year	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025
Cash and equivalents	179	469	5,436	881
Receivables	—	1,730	2,072	1,586
Total current assets	—	2,198	7,508	3,586
Goodwill	—	—	—	1,074
Total assets	—	2,943	8,055	5,443
Total current liabilities	—	4,741	5,168	1,988
Short-term debt	—	610	495	—
Total debt	0	2,391	495	0
Total liabilities	—	4,904	5,317	2,243
Shareholders' equity	−2,864	−1,960	2,738	3,201
Net debt (negative = net cash)	−179	1,923	−4,940	−881

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Powell Max Ltd's SEC filings (10-K and 10-Q), retrieved November 1, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Powell Max Ltd.