Adagene Inc (ADAG) — Working Capital to Net Assets Ratio
Adagene Inc (ADAG) has a Working Capital to Net Assets ratio of 147.7% as of March 2026. Working capital of $52.20 Million (current assets of $77.38 Million minus current liabilities of $25.17 Million) is measured against net assets of $35.35 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See ADAG net asset quality score to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Adagene Inc Working Capital to Net Assets (2018–2025)
This chart shows how Adagene Inc's Working Capital to Net Assets ratio has evolved across 8 annual periods from 2018 to 2025. As of March 2026, the ratio stands at 147.7%, reflecting working capital of $52.20 Million against net assets of $35.35 Million USD. Check ADAG goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Adagene Inc (2018–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Adagene Inc from 2018 to 2025, covering 8 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. For live market cap and the full company profile, see ADAG stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 147.7% | $52.20 Million | $35.35 Million | $77.38 Million | $25.17 Million | ▲ +49.5 pp |
| 2024 | 98.2% | $49.59 Million | $50.52 Million | $87.78 Million | $38.18 Million | ▼ -18.0 pp |
| 2023 | 116.2% | $81.99 Million | $70.56 Million | $113.44 Million | $31.46 Million | ▲ +2.8 pp |
| 2022 | 113.4% | $94.24 Million | $83.09 Million | $149.32 Million | $55.08 Million | ▲ +13.7 pp |
| 2021 | 99.7% | $156.13 Million | $156.56 Million | $185.95 Million | $29.82 Million | ▲ +170.2 pp |
| 2020 | -70.4% | $62.95 Million | $-89.39 Million | $79.10 Million | $16.15 Million | ▲ +99.3 pp |
| 2019 | -169.7% | $96.74 Million | $-57.01 Million | $103.92 Million | $7.18 Million | ▼ -68.6 pp |
| 2018 | -101.1% | $41.47 Million | $-41.03 Million | $51.82 Million | $10.35 Million | — |