Worksport Ltd
Worksport Ltd., together with its subsidiary, designs and distributes truck tonneau covers in Canada and the United States. The company offers soft tonneau covers, such as vinyl wrapped tri- and quad-fold tonneau covers; and hard tonneau covers, including tri- and quad-fold aluminum covers. It also offers energy products, such as Worksport SOLIS, a tonneau cover with integrated solar panels; and … Read more
Worksport Ltd (WKSP) - Total Assets
Latest total assets as of September 2025: $27.56 Million USD
Based on the latest financial reports, Worksport Ltd (WKSP) holds total assets worth $27.56 Million USD as of September 2025.
Total assets represent everything the company owns and controls, combining both current assets—like cash and cash equivalents, accounts receivable, and inventories—and non-current assets such as property, plant, equipment (PP&E), intangible assets, and long-term investments.
Worksport Ltd - Total Assets Trend (2002–2024)
This chart illustrates how Worksport Ltd’s total assets have evolved over time, based on quarterly financial data. Explore and compare other companies by total assets.
Worksport Ltd - Asset Composition Analysis
Current Asset Composition (December 2024)
Worksport Ltd's total assets of $27.56 Million consist of 40.7% current assets and 59.3% non-current assets.
| Asset Category | Amount (USD) | % of Total Assets |
|---|---|---|
| Cash & Equivalents | $0.00 | 19.0% |
| Accounts Receivable | $212.32K | 0.8% |
| Inventory | $5.19 Million | 20.2% |
| Property, Plant & Equipment | $0.00 | 0.0% |
| Intangible Assets | $953.05K | 3.7% |
| Goodwill | $0.00 | 0.0% |
Asset Composition Trend (2002–2024)
This chart illustrates how Worksport Ltd's asset composition has evolved over time. Understanding changes in asset allocation can provide insights into the company's strategic shifts, capital allocation priorities, and business focus evolution.
Key Asset Composition Facts
- Current vs. Non-Current Assets: Worksport Ltd's current assets represent 40.7% of total assets in 2024, a decrease from 100.0% in 2002.
- Cash Position: Cash and equivalents constituted 19.0% of total assets in 2024, down from 100.0% in 2002.
- Tangible vs. Intangible: Intangible assets (including goodwill) make up 3.0% of total assets, an increase from 0.0% in 2002.
- Asset Diversification: The largest asset category is inventory at 20.2% of total assets.
Worksport Ltd Competitors by Total Assets
Key competitors of Worksport Ltd based on total assets are shown below.
| Company | Country | Total Assets |
|---|---|---|
|
iQ International AG
F:IQL
|
Germany | €35.73 Million |
|
Metaterra Corp.
PINK:MTRC
|
USA | $54.63K |
|
Daewonkangup
KO:000430
|
Korea | ₩1.39 Trillion |
|
Wanxiang Qianchao Co Ltd
SHE:000559
|
China | CN¥24.64 Billion |
|
Weifu High-Technology Group Co Ltd
SHE:000581
|
China | CN¥29.08 Billion |
|
Gui Zhou Tyre Co Ltd
SHE:000589
|
China | CN¥18.30 Billion |
|
Qingdao Doublestar Co Ltd
SHE:000599
|
China | CN¥9.23 Billion |
|
Hengli Industrial Development Group Co Ltd
SHE:000622
|
China | CN¥481.53 Million |
Worksport Ltd - Asset Efficiency Metrics
Asset efficiency metrics measure how effectively a company uses its assets to generate revenue and profits. These indicators help investors evaluate management's ability to deploy capital efficiently.
Asset Turnover Ratio
Measures how efficiently a company uses its assets to generate sales
Lower asset utilization - Worksport Ltd generates 0.33x its asset value in annual revenue.
Return on Assets (ROA)
Measures how efficiently a company uses its assets to generate profits
Negative ROA - Worksport Ltd is currently not profitable relative to its asset base.
Worksport Ltd - Liquidity and Working Capital Analysis
Liquidity ratios measure a company's ability to pay off its short-term debts as they come due, using the company's current or quick assets. Working capital represents the operational liquidity available.
Key Liquidity Metrics
| Metric | Current | 1 Year Ago | 5 Years Ago |
|---|---|---|---|
| Current Ratio | 2.04 | 2.96 | 0.98 |
| Quick Ratio | 0.91 | 0.91 | 0.96 |
| Cash Ratio | 0.00 | 0.00 | 0.00 |
| Working Capital | $6.31 Million | $ 5.88 Million | $ -33.29K |
Worksport Ltd - Advanced Valuation Insights
This section examines the relationship between Worksport Ltd's asset base and its market valuation, helping to identify whether the company's assets are efficiently translated into market value.
Key Valuation Metrics
| Current Price-to-Book Ratio | 0.65 |
| Latest Market Cap to Assets Ratio | 0.41 |
| Asset Growth Rate (YoY) | -0.8% |
| Total Assets | $25.74 Million |
| Market Capitalization | $10.61 Million USD |
Valuation Analysis
Below Book Valuation: The market values Worksport Ltd's assets below their book value (0.41 x), which may indicate investor concerns about asset quality or future growth.
Slight Asset Contraction: Worksport Ltd's assets decreased by 0.8% over the past year, which may reflect streamlining or optimization of resources.
Annual Total Assets for Worksport Ltd (2002–2024)
The table below shows the annual total assets of Worksport Ltd from 2002 to 2024.
| Year | Total Assets | Change |
|---|---|---|
| 2024-12-31 | $25.74 Million | -0.84% |
| 2023-12-31 | $25.95 Million | -20.79% |
| 2022-12-31 | $32.76 Million | -9.73% |
| 2021-12-31 | $36.29 Million | +1808.05% |
| 2020-12-31 | $1.90 Million | +295.20% |
| 2019-12-31 | $481.31K | -13.65% |
| 2018-12-31 | $557.37K | -38.44% |
| 2017-12-31 | $905.47K | +168.89% |
| 2016-12-31 | $336.75K | +11.22% |
| 2015-12-31 | $302.77K | +6.39% |
| 2014-12-31 | $284.59K | +28880.24% |
| 2013-12-31 | $982.00 | +208.81% |
| 2012-12-31 | $318.00 | -52.54% |
| 2010-12-31 | $670.00 | +11.30% |
| 2008-12-31 | $602.00 | 0.00% |
| 2002-12-31 | $602.00 | -- |