Northwind Trading Co.
Month ended Aug 31, 2026
Financial review · Covers Mar 2025 – Aug 2026 · The forecast and runway start from today
Overview
Revenue by account, by quarter
The revenue story
Revenue reached $5.73M over the period, and it leans on one engine: Wholesale distribution carries roughly two-thirds of the top line, with retail and direct filling the rest. The most encouraging signal is the trajectory: the most recent months are running about 30% ahead of the same point last year, so this reads as a genuine ramp rather than a one-off spike.
The flip side of that strength is concentration. With wholesale doing most of the work and a handful of large accounts behind it (Cascade Outfitters alone sits on $155K of open receivables), the base is more exposed to any single customer or channel than the headline growth suggests. Worth keeping the pipeline broad enough that one slow quarter from a top account doesn't set the whole number back.
Revenue composition
2026 YTD (Jan–Aug)
By channel
| Name | Revenue | Share |
|---|---|---|
| Wholesale distribution | $1,970,706 | 70% |
| Retail & e-commerce | $596,635 | 21% |
| Service & installation | $236,907 | 8% |
| Total | $2,804,248 | 100% |
By customer
| Name | Revenue | Share |
|---|---|---|
| Cascade Outfitters | $665,632 | 24% |
| Summit Supply Group | $545,565 | 19% |
| Harbor & Main Hardware | $346,096 | 12% |
| Pioneer Building Co. | $260,105 | 9% |
| Lakeshore Mercantile | $227,384 | 8% |
| Redwood Distribution | $201,674 | 7% |
| Bluebird Retail Partners | $173,975 | 6% |
| Granite City Tools | $132,057 | 5% |
| Everett Trading Post | $126,555 | 5% |
| Foster's Farm & Feed | $125,205 | 4% |
| Total | $2,804,248 | 100% |
Revenue momentum
Revenue MoM
+5.4%
Aug vs Jul
Revenue YoY
+35.0%
Aug vs Aug
Revenue QoQ
−2.4%
last 3 mo vs prior 3
TTM revenue
$4.1M
trailing 12 months
Revenue run-rate
$4.3M
last 3 mo × 4
Net income YoY
+252.0%
Aug vs Aug
Revenue concentration
Top 5 of 10 customers = 74% of revenue — diversified
- Cascade Outfitters24%
- Summit Supply Group19%
- Harbor & Main Hardware13%
- Pioneer Building Co.10%
- Lakeshore Mercantile9%
Profit & loss
Revenue by quarter
| Line item | Aug 31, 2026 YTD | Aug 31, 2025 YTD | Δ$ | Δ% | % of rev |
|---|---|---|---|---|---|
| Revenue(3) | +$709,536 | +33.9% | 100.0% → 100.0% | ||
| Cost of goods sold(3) | −$425,722 | −33.9% | 60.0% → 60.0% | ||
| Gross profit | +$283,814 | +33.9% | 40.0% → 40.0% | ||
| Operating expenses(7) | −$139,200 | −19.0% | 35.0% → 31.1% | ||
| Operating income | +$144,614 | +138.4% | 5.0% → 8.9% | ||
| Other income | — | — | 0.0% → 0.0% | ||
| Other expense(1) | −$7,680 | −32.9% | 1.1% → 1.1% | ||
| Net income | +$136,934 | +168.8% | 3.9% → 7.8% |
Variances
Moves over $20,000 · vs Aug 31, 2025 YTD
Every account whose swing cleared materiality, biggest first — smaller moves stay out as noise. The arrow shows direction only; whether a move is good or bad depends on the line.
| Account | Prior | Current | Change |
|---|---|---|---|
| Wholesale distributionRevenue | $1,451,453 | $1,970,706 | ↑ $519,253(36%) |
| Product & materialsCost of sales | ($1,067,575) | ($1,429,192) | ↓ $361,617(34%) |
| Retail & e-commerceRevenue | $458,855 | $596,635 | ↑ $137,780(30%) |
| Payroll & benefitsOperating expenses | ($394,800) | ($481,200) | ↓ $86,400(22%) |
| Service & installationRevenue | $184,404 | $236,907 | ↑ $52,503(28%) |
| Freight & logisticsCost of sales | ($126,168) | ($168,904) | ↓ $42,736(34%) |
| Sales & marketingOperating expenses | ($88,200) | ($121,800) | ↓ $33,600(38%) |
| Warehouse laborCost of sales | ($63,084) | ($84,453) | ↓ $21,369(34%) |
Wholesale distribution
Revenue
↑ $519,253
36%
$1,451,453→$1,970,706
Product & materials
Cost of sales
↓ $361,617
34%
($1,067,575)→($1,429,192)
Retail & e-commerce
Revenue
↑ $137,780
30%
$458,855→$596,635
Common-size trend
Every line as a share of revenue, period over period — watch a cost ratio drift.
Latest period vs a year ago — the full trend shows on a larger screen.
| Line item | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 |
|---|---|---|---|---|---|---|---|---|---|
| Gross profit | |||||||||
| Operating income | |||||||||
| Other income | |||||||||
| Net income |
Forecast
Money in and out, week by week — customers pay you about as slowly as they have been, bills go out on your terms, and what's already owed either way is counted in.
Cash for the next 13 weeks
You stay above $0 for all 13 weeks — your lowest point is $71,000, the week ending Oct 18.
Ending cash by week
- Today$160,000
TapClick a week for its detail.
Week by week$160,000 today → $247,000 in 13 weeksShowHide
Starting cash
$160,000
Projected in 13 weeks
$247,000
| Week ending | Oct 4 | Oct 11 | Oct 18 | Oct 25 | Nov 1 | Nov 8 | Nov 15 | Nov 22 | Nov 29 | Dec 6 | Dec 13 | Dec 20 | Dec 27 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash in | $39k | $52k | $57k | $58.7k | $96.1k | $96.1k | $83.1k | $83.1k | $160.4k | $84k | $84k | $82.3k | $82.3k |
| Cash out | $95.3k | $58.6k | $83.1k | $11.4k | $46.6k | $81.7k | $93.3k | $67.5k | $89.7k | $136.4k | $75.9k | $54.7k | $76.9k |
| Net change | −$56.3k | −$6.6k | −$26.1k | $47.3k | $49.5k | $14.4k | −$10.2k | $15.6k | $70.7k | −$52.4k | $8.1k | $27.6k | $5.4k |
| Ending cash | $103.7k | $97.1k | $71k | $118.3k | $167.8k | $182.2k | $172k | $187.6k | $258.3k | $205.9k | $214k | $241.6k | $247k |
Edit the scheduleEach line’s amount and timing, and what you expect to bill — 12 linesEditDone
Expected revenue
Customers take about 58 days to pay you
What you expect to bill each month — pre-filled with what you’ve actually been billing. We turn it into weekly cash using how long your customers take to pay; what they already owe you comes in automatically in the inflows below.
Cash inflows
~$352,700 / month
| Frequency | Amount | |||
|---|---|---|---|---|
| Collections — opening A/R | How oftenCollections (DSO) | Amount$58,782 | About a month$215,533 | Next dateSep 28, 2026 |
| Revenue collections | How oftenCollections (DSO) | Amount$82,300 | About a month$137,167 | Next dateNov 23, 2026 |
Cash outflows
~$318,500 / month est. burn
| Frequency | Amount | Paid via | |||
|---|---|---|---|---|---|
| Payables — opening A/P | How oftenPayables (DPO) | Amount$46,678 | About a month$140,033 | Paid via— | Next dateSep 28, 2026 |
| Payroll & benefits | How often | Amount | About a month$67,600 | Paid via | Next date |
| Inventory purchases | How oftenInventory (DIO) | Amount$42,500 | About a month$56,667 | Paid via— | Next dateNov 30, 2026 |
| Sales & marketing | How often | Amount | About a month$16,100 | Paid via | Next date |
| Rent & occupancy | How often | Amount | About a month$14,500 | Paid via | Next date |
| Software & subscriptions | How often | Amount | About a month$7,100 | Paid via | Next date |
| Office & other G&A | How often | Amount | About a month$5,800 | Paid via | Next date |
| Other payments | How oftenTiming-based | Amount$900 | About a month$3,900 | Paid via— | Next dateSep 28, 2026 |
| Insurance | How often | Amount | About a month$3,600 | Paid via | Next date |
| Professional fees | How often | Amount | About a month$3,200 | Paid via | Next date |
12 months · totals are live
Annual revenue
$4,096,842
Operating income
$286,337
7.0% operating margin
Gross margin
40.0%
$1,638,737 gross profit
Build your year month by month. Edit any cell, rename or add lines, or use the fill icon beside a line to copy Jan across the rest. Enter a cost in dollars, or flip it to a % of revenue with the $ / % switch — the dollars fall out automatically. Switch Monthly / Quarterly any time — your numbers carry over. The download recomputes in Excel.
On a phone, swipe the table sideways to reach later columns and each line's fill and $ / % controls — or tap Quarterly above for fewer columns to edit.
| Line | Jan | Feb | Mar | Apr | May | Jun | FY total |
|---|---|---|---|---|---|---|---|
| Revenue | |||||||
| $2,895,773 | |||||||
| $862,504 | |||||||
| $338,565 | |||||||
| Total revenue | $323,348 | $314,268 | $348,920 | $365,400 | $379,327 | $364,260 | $4,096,842 |
| Cost of sales | |||||||
| $2,087,963 | |||||||
| $246,759 | |||||||
| $123,383 | |||||||
| Gross profit | $129,339 | $125,707 | $139,569 | $146,159 | $151,731 | $145,704 | $1,638,737 |
| Operating expenses | |||||||
| $748,800 | |||||||
| $193,200 | |||||||
| $174,000 | |||||||
| $85,440 | |||||||
| $69,360 | |||||||
| $43,200 | |||||||
| $38,400 | |||||||
| Total operating expenses | $112,700 | $112,700 | $112,700 | $112,700 | $112,700 | $112,700 | $1,352,400 |
| Operating income | $16,639 | $13,007 | $26,869 | $33,459 | $39,031 | $33,004 | $286,337 |
5 years, built monthly · viewing annual · the download recomputes in Excel
Year 5 revenue
$4,279,608
Year 5 net income
$156,396
3.7% net margin
Ending cash
$745,631
Low point $114,176
What is this pro forma for?
Your business as it runs today, projected forward.
Working capital
Capex & financing
Opening balance sheet
Set the assumptions above and the three statements project forward, linked: net income flows to retained earnings, capex and depreciation roll the fixed assets, working-capital days drive A/R, inventory and A/P, and the cash-flow statement ties ending cash back to the balance sheet. Switch Monthly / Quarterly / Annual any time.
Income statement
| Line | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Revenue | $4,279,608 | $4,279,608 | $4,279,608 | $4,279,608 | $4,279,608 |
| Cost of sales | $2,567,765 | $2,567,765 | $2,567,765 | $2,567,765 | $2,567,765 |
| Gross profit | $1,711,843 | $1,711,843 | $1,711,843 | $1,711,843 | $1,711,843 |
| Operating expenses | $1,352,400 | $1,352,400 | $1,352,400 | $1,352,400 | $1,352,400 |
| EBITDA | $359,443 | $359,443 | $359,443 | $359,443 | $359,443 |
| Depreciation | $114,943 | $125,215 | $133,612 | $140,474 | $146,083 |
| Operating income (EBIT) | $244,500 | $234,228 | $225,832 | $218,969 | $213,360 |
| Interest | $15,390 | $15,390 | $15,390 | $15,390 | $15,390 |
| Pre-tax income | $229,110 | $218,838 | $210,442 | $203,579 | $197,970 |
| Taxes | $48,113 | $45,956 | $44,193 | $42,752 | $41,574 |
| Net income | $180,997 | $172,882 | $166,249 | $160,827 | $156,396 |
Balance sheet
| Line | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Assets | |||||
| Cash | $228,629 | $355,542 | $484,218 | $614,336 | $745,631 |
| Accounts receivable | $689,492 | $689,492 | $689,492 | $689,492 | $689,492 |
| Inventory | $798,860 | $798,860 | $798,860 | $798,860 | $798,860 |
| Net PP&E | $604,241 | $650,210 | $687,783 | $718,493 | $743,594 |
| Total assets | $2,321,223 | $2,494,105 | $2,660,354 | $2,821,181 | $2,977,578 |
| Liabilities & equity | |||||
| Accounts payable | $442,226 | $442,226 | $442,226 | $442,226 | $442,226 |
| Debt | $171,000 | $171,000 | $171,000 | $171,000 | $171,000 |
| Revolver | $0 | $0 | $0 | $0 | $0 |
| Paid-in capital | $0 | $0 | $0 | $0 | $0 |
| Retained earnings | $1,707,997 | $1,880,879 | $2,047,128 | $2,207,955 | $2,364,351 |
| Total liab. & equity | $2,321,223 | $2,494,105 | $2,660,354 | $2,821,181 | $2,977,578 |
| Balance check (≈ 0) | $0 | -$0 | -$0 | -$0 | -$0 |
Cash flow
| Line | Year 1 | Year 2 | Year 3 | Year 4 | Year 5 |
|---|---|---|---|---|---|
| Cash from operations | $239,814 | $298,097 | $299,860 | $301,302 | $302,480 |
| Cash from investing | -$171,184 | -$171,184 | -$171,184 | -$171,184 | -$171,184 |
| Debt repayment | $0 | $0 | $0 | $0 | $0 |
| Owner distributions | $0 | $0 | $0 | $0 | $0 |
| Revolver draw / (repay) | $0 | $0 | $0 | $0 | $0 |
| Cash from financing | $0 | $0 | $0 | $0 | $0 |
| Net change in cash | $68,629 | $126,913 | $128,676 | $130,117 | $131,295 |
| Ending cash | $228,629 | $355,542 | $484,218 | $614,336 | $745,631 |
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Balance sheet
Liquidity by quarter
Current ratio + quick ratio (excludes inventory); dashed = 1.0× coverage
Hover a point for the account balances behind it · click to pin the detail
| Line item | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Aug '26 |
|---|---|---|---|---|---|---|---|
| Current assets | |||||||
| Cash & bank accounts(2) | $376,988 | $338,821 | $306,214 | $265,315 | $223,977 | $185,730 | $160,000 |
| Accounts receivable(1) | $333,539 | $390,772 | $441,673 | $501,969 | $558,923 | $608,778 | $650,000 |
| Inventory(2) | $320,890 | $402,317 | $472,703 | $550,969 | $634,970 | $703,562 | $760,000 |
| Prepaid expenses(1) | $33,783 | $36,806 | $38,319 | $41,454 | $43,527 | $46,712 | $48,000 |
| Total current assets | $1,065,200 | $1,168,716 | $1,258,909 | $1,359,707 | $1,461,397 | $1,544,782 | $1,618,000 |
| Non-current assets | |||||||
| Property, plant & equipment(3) | $407,856 | $427,118 | $440,914 | $460,172 | $475,873 | $496,882 | $510,000 |
| Other long-term assets(1) | $33,793 | $34,013 | $35,156 | $35,808 | $36,371 | $37,522 | $38,000 |
| Total non-current assets | $441,649 | $461,131 | $476,070 | $495,980 | $512,244 | $534,404 | $548,000 |
| Total assets | $1,506,849 | $1,629,847 | $1,734,979 | $1,855,687 | $1,973,641 | $2,079,186 | $2,166,000 |
| Current liabilities | |||||||
| Accounts payable(1) | $207,755 | $241,007 | $282,813 | $321,434 | $352,576 | $390,224 | $420,000 |
| Accrued expenses(1) | $59,270 | $67,181 | $75,489 | $82,116 | $91,486 | $98,989 | $104,000 |
| Short-term debt(2) | $60,951 | $59,296 | $80,015 | $138,102 | $192,387 | $252,043 | $290,000 |
| Total current liabilities | $327,976 | $367,484 | $438,317 | $541,652 | $636,449 | $741,256 | $814,000 |
| Non-current liabilities | |||||||
| Long-term debt(1) | $443,187 | $386,028 | $344,158 | $301,616 | $246,875 | $202,634 | $171,000 |
| Total non-current liabilities | $443,187 | $386,028 | $344,158 | $301,616 | $246,875 | $202,634 | $171,000 |
| Total liabilities | $771,163 | $753,512 | $782,475 | $843,268 | $883,324 | $943,890 | $985,000 |
| Equity | |||||||
| Contributed capital(1) | $250,000 | $250,000 | $250,000 | $250,000 | $250,000 | $250,000 | $250,000 |
| Retained earnings(1) | $485,686 | $626,335 | $702,504 | $762,419 | $840,317 | $885,296 | $931,000 |
| Total equity | $735,686 | $876,335 | $952,504 | $1,012,419 | $1,090,317 | $1,135,296 | $1,181,000 |
| Total liabilities & equity | $1,506,849 | $1,629,847 | $1,734,979 | $1,855,687 | $1,973,641 | $2,079,186 | $2,166,000 |
In balance — total assets equal total liabilities + equity.
Commentary
As of Aug '26
The balance sheet grew from $1.71M to $2.17M over the year, but the mix tells the real story: cash fell from $315K to $160K while receivables climbed to $650K and inventory to $760K. The growth on the income statement is real. It's just sitting on the shelf and in customers' hands rather than in the bank.
The funding side shows how that gap got covered: trade payables stretched to $420K, and a $230K line of credit appeared where there was none a year ago. Equity still grew $235K on retained earnings, so the business is building value, but the current ratio slipping from 3.08 to 1.99 says the cushion is thinning, and inventory is the biggest lever for pulling cash back out.
All the ratios — for your lender or accountant▾
| Metric | Aug 2026 | Prior | Change |
|---|---|---|---|
| Profitability | |||
| Gross margin | 40.0% | — | — |
| Operating margin | 8.0% | — | — |
| Net margin | 6.9% | — | — |
| Returns on capital | |||
| Return on equity (ann.) | 22.4% | — | — |
| Return on assets (ann.) | 12.2% | — | — |
| Return on capital employed (ann.) | 22.6% | — | — |
| Leverage | |||
| Net debt (debt − cash) | $301,000 | — | — |
| Interest coverage (EBIT ÷ interest) | 7.3× | — | — |
| Debt-to-equity | 0.39 | — | — |
| Liquidity & runway | |||
| Current ratio | 1.99 | 3.08 | −1.09 |
| Quick ratio | 1.05 | 1.96 | −0.90 |
| Days cash on hand | 17 days | — | — |
| Working-capital cycle | |||
| Days sales outstanding (DSO) | 58 days | — | — |
| Days inventory outstanding (DIO) | 112 days | — | — |
| Days payable outstanding (DPO) | 62 days | — | — |
| Cash conversion cycle | 108 days | — | — |
| Asset turnover (ann.) | 1.8× | — | — |
| Inventory turnover (ann.) | 3.0× | — | — |
Variances
Moves over $32,000 · vs prior close
Every account whose swing cleared materiality, biggest first — smaller moves stay out as noise. The arrow shows direction only; whether a move is good or bad depends on the line.
The balance sheet did this year's financing. Trade receivables climbed $220K to $650K and finished goods rose $170K to $470K as the business scaled, close to $400K of cash tied up in working capital ahead of the sales it supports. That gap got covered two ways: trade payables stretched $152K to $420K, and a line of credit that was untouched a year ago now carries $230K.
Retained earnings still rose $235K to $931K, so the strain is liquidity, not earnings. The business is genuinely profitable. The term loan fell $189K to $171K on schedule, but with the new $230K drawn on the line, total borrowing is up rather than down. The receivables and inventory build is where to look first to pull cash back out.
| Account | Prior | Current | Change |
|---|---|---|---|
| Retained earningsEquity Profits kept in the business. The year was genuinely profitable, which confirms the strain is liquidity (where the cash went), not earnings. AIClick to edit | $696,000 | $931,000 | ↑ $235,000(34%) |
| Line of creditCurrent liabilities A revolver that was untouched a year ago is now drawn: the clearest sign growth has outrun internal cash. Set a paydown plan before the balance becomes structural. AIClick to edit | — | $230,000 | ↑ $230,000(new) |
| Trade receivablesCurrent assets Customers owe more as sales scaled: healthy growth in part, but the climb outpacing revenue points to slower collections. Worth checking days-to-collect and the aged balances for anyone stretching out. AIClick to edit | $430,000 | $650,000 | ↑ $220,000(51%) |
| Term loanNon-current liabilities Scheduled principal paydown: a favorable, deleveraging move, though it competes with the line of credit for the same cash. AIClick to edit | $360,000 | $171,000 | ↓ $189,000(53%) |
| Finished goodsCurrent assets More stock on the shelf ahead of demand. It supports the growth, but it ties up cash, so confirm it's matched to a real sales ramp rather than slow-moving SKUs. AIClick to edit | $300,000 | $470,000 | ↑ $170,000(57%) |
| Trade payablesCurrent liabilities The business is leaning on suppliers to help fund the build. Manageable while terms are honored, but it's effectively short-term credit worth keeping an eye on. AIClick to edit | $268,000 | $420,000 | ↑ $152,000(57%) |
| Raw materialsCurrent assets Input inventory built up, likely ahead of a production or sales ramp. Fine if it turns quickly; a cash drag if it's overbuying. AIClick to edit | $150,000 | $290,000 | ↑ $140,000(93%) |
| Operating checkingCurrent assets Cash drawn down to fund the year's working-capital build. Worth confirming the balance still covers a comfortable buffer of operating expenses. AIClick to edit | $220,000 | $120,000 | ↓ $100,000(45%) |
| Business savingsCurrent assets Reserve cash moved into operations as growth consumed liquidity. Rebuilding it belongs on the plan once receivables and inventory normalize. AIClick to edit | $95,000 | $40,000 | ↓ $55,000(58%) |
| Warehouse equipmentNon-current assets Capital invested in capacity, financed partly by the new debt: a scaling signal. Watch that the added capacity earns its keep. AIClick to edit | $290,000 | $340,000 | ↑ $50,000(17%) |
| Accrued payroll & taxesCurrent liabilities Accrued wages and taxes rose with headcount and timing: routine, as long as the cash is set aside for the next payroll run and remittance. AIClick to edit | $72,000 | $104,000 | ↑ $32,000(44%) |
Retained earnings
Equity
↑ $235,000
34%
$696,000→$931,000
Profits kept in the business. The year was genuinely profitable, which confirms the strain is liquidity (where the cash went), not earnings.
AIClick to editLine of credit
Current liabilities
↑ $230,000
new
—→$230,000
A revolver that was untouched a year ago is now drawn: the clearest sign growth has outrun internal cash. Set a paydown plan before the balance becomes structural.
AIClick to editTrade receivables
Current assets
↑ $220,000
51%
$430,000→$650,000
Customers owe more as sales scaled: healthy growth in part, but the climb outpacing revenue points to slower collections. Worth checking days-to-collect and the aged balances for anyone stretching out.
AIClick to edit
Watch-outs
Watch-outs
Books scan at the time of this report · 13 checks · 3 flagged. A record of the books when this report was made; the live scan, and marking items done, are on the Command Center.
- HighBalance sheet$760,000
Inventory hasn't been counted against the books in 140 days
$760K on the balance sheet; last physical count was in April.
For your bookkeeper: Ask your bookkeeper to cycle-count the top 20 SKUs this week and book the adjustment.
- MediumSetup & categorization$8,300
Opening Balance Equity still has a balance
This account should be zero once your books are set up.
For your bookkeeper: Ask your bookkeeper to reclassify the $8,300 to the equity or asset account it belongs to, with your accountant's sign-off.
- LowCash & reconciliation$2,600
Undeposited Funds hasn't cleared in 40 days
Money recorded as received but not matched to a bank deposit.
For your bookkeeper: Ask your bookkeeper to match the receipts to the bank deposit, or find out why it never landed.
In short
- Revenue for Mar 2025 – Aug 2026 was $5,733,000.
- Net income was $397,710.
- Cash at the close was $160,000.
- The books scan flagged 3 items worth a look (Watch-outs).