Forth Smart Service Public Company Limited (FSMART) — Working Capital to Net Assets Ratio
Forth Smart Service Public Company Limited (FSMART) has a Working Capital to Net Assets ratio of 13.3% as of December 2025. Working capital of ฿231.55 Million (current assets of ฿1.93 Billion minus current liabilities of ฿1.69 Billion) is measured against net assets of ฿1.74 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See FSMART cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Forth Smart Service Public Company Limited Working Capital to Net Assets (2012–2025)
This chart shows how Forth Smart Service Public Company Limited's Working Capital to Net Assets ratio has evolved across 14 annual periods from 2012 to 2025. As of December 2025, the ratio stands at 13.3%, reflecting working capital of ฿231.55 Million against net assets of ฿1.74 Billion THB. For the complete balance sheet picture, see how large is Forth Smart Service Public Company Limit's balance sheet.
Annual Working Capital to Net Assets for Forth Smart Service Public Company Limited (2012–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Forth Smart Service Public Company Limited from 2012 to 2025, covering 14 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check Forth Smart Service Public Company Limit asset resilience ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (THB) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 13.3% | ฿231.55 Million | ฿1.74 Billion | ฿1.93 Billion | ฿1.69 Billion | ▲ +24.8 pp |
| 2024 | -11.6% | ฿-149.16 Million | ฿1.29 Billion | ฿1.76 Billion | ฿1.91 Billion | ▼ -8.0 pp |
| 2023 | -3.5% | ฿-41.25 Million | ฿1.17 Billion | ฿1.42 Billion | ฿1.46 Billion | ▲ +19.5 pp |
| 2022 | -23.0% | ฿-259.12 Million | ฿1.13 Billion | ฿1.34 Billion | ฿1.60 Billion | ▲ +2.4 pp |
| 2021 | -25.3% | ฿-285.69 Million | ฿1.13 Billion | ฿1.40 Billion | ฿1.68 Billion | ▲ +25.7 pp |
| 2020 | -51.0% | ฿-586.25 Million | ฿1.15 Billion | ฿1.58 Billion | ฿2.16 Billion | ▲ +6.8 pp |
| 2019 | -57.8% | ฿-772.09 Million | ฿1.34 Billion | ฿1.40 Billion | ฿2.17 Billion | ▲ +23.9 pp |
| 2018 | -81.7% | ฿-1.02 Billion | ฿1.25 Billion | ฿1.43 Billion | ฿2.45 Billion | ▲ +4.1 pp |
| 2017 | -85.8% | ฿-1.14 Billion | ฿1.33 Billion | ฿1.35 Billion | ฿2.49 Billion | ▼ -27.3 pp |
| 2016 | -58.5% | ฿-691.97 Million | ฿1.18 Billion | ฿1.00 Billion | ฿1.69 Billion | ▼ -9.6 pp |
| 2015 | -48.9% | ฿-497.40 Million | ฿1.02 Billion | ฿720.42 Million | ฿1.22 Billion | ▼ -68.6 pp |
| 2014 | 19.7% | ฿198.78 Million | ฿1.01 Billion | ฿900.66 Million | ฿701.89 Million | ▲ +92.2 pp |
| 2013 | -72.5% | ฿-267.82 Million | ฿369.20 Million | ฿416.80 Million | ฿684.62 Million | ▲ +54.2 pp |
| 2012 | -126.7% | ฿-314.99 Million | ฿248.55 Million | ฿350.43 Million | ฿665.42 Million | — |