IREN Ltd (IREN) — Working Capital to Net Assets Ratio
IREN Ltd (IREN) has a Working Capital to Net Assets ratio of 107.6% as of December 2025. Working capital of $2.70 Billion (current assets of $3.38 Billion minus current liabilities of $682.13 Million) is measured against net assets of $2.51 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how many days can IREN Ltd fund operations to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
IREN Ltd Working Capital to Net Assets (2019–2025)
This chart shows how IREN Ltd's Working Capital to Net Assets ratio has evolved across 7 annual periods from 2019 to 2025. As of December 2025, the ratio stands at 107.6%, reflecting working capital of $2.70 Billion against net assets of $2.51 Billion USD. For the complete balance sheet picture, see how large is IREN Ltd's balance sheet.
Annual Working Capital to Net Assets for IREN Ltd (2019–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for IREN Ltd from 2019 to 2025, covering 7 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 IREN Ltd (IREN) asset resilience to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 27.1% | $491.83 Million | $1.82 Billion | $641.17 Million | $149.35 Million | ▼ -9.5 pp |
| 2024 | 36.6% | $401.31 Million | $1.10 Billion | $452.39 Million | $51.07 Million | ▲ +15.2 pp |
| 2023 | 21.4% | $65.23 Million | $305.36 Million | $89.23 Million | $24.00 Million | ▲ +11.7 pp |
| 2022 | 9.7% | $25.09 Million | $259.18 Million | $110.20 Million | $85.11 Million | ▼ -253.2 pp |
| 2021 | 262.9% | $-97.63 Million | $-37.13 Million | $30.35 Million | $127.98 Million | ▲ +256.1 pp |
| 2020 | 6.8% | $661.07K | $9.66 Million | $2.57 Million | $1.91 Million | ▲ +1.2 pp |
| 2019 | 5.6% | $98.29K | $1.75 Million | $207.81K | $109.52K | — |