Gan Ltd (GAN) — Working Capital to Net Assets Ratio
Gan Ltd (GAN) has a Working Capital to Net Assets ratio of -113.1% as of March 2025. Working capital of $18.64 Million (current assets of $51.46 Million minus current liabilities of $32.82 Million) is measured against net assets of $-16.48 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See how financially flexible is Gan Ltd to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Gan Ltd Working Capital to Net Assets (2012–2024)
This chart shows how Gan Ltd's Working Capital to Net Assets ratio has evolved across 13 annual periods from 2012 to 2024. As of March 2025, the ratio stands at -113.1%, reflecting working capital of $18.64 Million against net assets of $-16.48 Million USD. See GAN days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Gan Ltd (2012–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Gan Ltd from 2012 to 2024, covering 13 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 market cap of Gan Ltd.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -194.4% | $21.66 Million | $-11.14 Million | $52.83 Million | $31.17 Million | ▲ +236.0 pp |
| 2023 | -430.4% | $19.82 Million | $-4.60 Million | $56.54 Million | $36.72 Million | ▼ -599.4 pp |
| 2022 | 169.0% | $35.10 Million | $20.77 Million | $67.63 Million | $32.53 Million | ▲ +159.5 pp |
| 2021 | 9.5% | $21.39 Million | $224.04 Million | $54.42 Million | $33.03 Million | ▼ -84.4 pp |
| 2020 | 94.0% | $146.18 Million | $155.56 Million | $163.50 Million | $17.31 Million | ▲ +35.9 pp |
| 2019 | 58.1% | $8.78 Million | $15.10 Million | $19.25 Million | $10.47 Million | ▲ +23.7 pp |
| 2018 | 34.4% | $4.11 Million | $11.96 Million | $13.78 Million | $9.67 Million | ▼ -12.4 pp |
| 2017 | 46.8% | $4.79 Million | $10.23 Million | $8.92 Million | $4.13 Million | ▲ +10.2 pp |
| 2016 | 36.5% | $5.03 Million | $13.75 Million | $8.72 Million | $3.69 Million | ▲ +4.3 pp |
| 2015 | 32.3% | $5.01 Million | $15.53 Million | $9.78 Million | $4.76 Million | ▼ -39.1 pp |
| 2014 | 71.4% | $16.89 Million | $23.65 Million | $21.19 Million | $4.31 Million | ▼ -17.2 pp |
| 2013 | 88.6% | $25.96 Million | $29.31 Million | $32.51 Million | $6.55 Million | ▲ +100.1 pp |
| 2012 | -11.5% | $-352.70K | $3.06 Million | $5.09 Million | $5.44 Million | — |