HCM II Acquisition Corp (HOND) — Working Capital to Net Assets Ratio

HCM II Acquisition Corp (HOND) has a Working Capital to Net Assets ratio of -1.7% as of September 2025. Working capital of $-3.82 Million (current assets of $461.66K minus current liabilities of $4.28 Million) is measured against net assets of $228.11 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See HOND defensive asset coverage days to measure how many days the company can operate on defensive assets alone.