Metalpha Technology Holding Limited (MATH) — Working Capital to Net Assets Ratio
Metalpha Technology Holding Limited (MATH) has a Working Capital to Net Assets ratio of 99.3% as of September 2025. Working capital of $34.81 Million (current assets of $413.51 Million minus current liabilities of $378.71 Million) is measured against net assets of $35.06 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See MATH FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Metalpha Technology Holding Limited Working Capital to Net Assets (2015–2025)
This chart shows how Metalpha Technology Holding Limited's Working Capital to Net Assets ratio has evolved across 11 annual periods from 2015 to 2025. As of September 2025, the ratio stands at 99.3%, reflecting working capital of $34.81 Million against net assets of $35.06 Million USD. See how many days can Metalpha Technology Holding Limited fund operations to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Metalpha Technology Holding Limited (2015–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Metalpha Technology Holding Limited from 2015 to 2025, covering 11 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 Metalpha Technology Holding Limited (MATH) market capitalisation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 99.3% | $36.29 Million | $36.56 Million | $246.48 Million | $210.19 Million | ▼ -0.2 pp |
| 2024 | 99.5% | $16.76 Million | $16.85 Million | $174.63 Million | $157.87 Million | ▲ +0.8 pp |
| 2023 | 98.6% | $8.48 Million | $8.60 Million | $55.92 Million | $47.44 Million | ▲ +2.9 pp |
| 2022 | 95.7% | $13.59 Million | $14.20 Million | $23.63 Million | $10.03 Million | ▼ -3.2 pp |
| 2021 | 98.9% | $8.46 Million | $8.55 Million | $15.53 Million | $7.07 Million | ▲ +1.9 pp |
| 2020 | 97.1% | $7.15 Million | $7.37 Million | $9.75 Million | $2.59 Million | ▲ +1.3 pp |
| 2019 | 95.7% | $8.92 Million | $9.32 Million | $11.85 Million | $2.93 Million | ▲ +6.9 pp |
| 2018 | 88.9% | $9.77 Million | $10.99 Million | $11.79 Million | $2.02 Million | ▼ -5.9 pp |
| 2017 | 94.7% | $2.86 Million | $3.02 Million | $4.05 Million | $1.19 Million | ▲ +4.5 pp |
| 2016 | 90.2% | $1.31 Million | $1.45 Million | $1.87 Million | $557.32K | ▼ -81.5 pp |
| 2015 | 171.7% | $-429.71K | $-250.21K | $888.34K | $1.32 Million | — |