Merlin, Inc. (MRLN) — Working Capital to Net Assets Ratio
Merlin, Inc. (MRLN) has a Working Capital to Net Assets ratio of -5.0% as of September 2025. Working capital of $26.82 Million (current assets of $78.87 Million minus current liabilities of $52.05 Million) is measured against net assets of $-531.41 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See MRLN equity to assets ratio to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Merlin, Inc. Working Capital to Net Assets (2023–2024)
This chart shows how Merlin, Inc.'s Working Capital to Net Assets ratio has evolved across 2 annual periods from 2023 to 2024. As of September 2025, the ratio stands at -5.0%, reflecting working capital of $26.82 Million against net assets of $-531.41 Million USD. See MRLN days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Merlin, Inc. (2023–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Merlin, Inc. from 2023 to 2024, covering 2 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 Merlin, Inc. stock valuation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -11.4% | $14.96 Million | $-131.52 Million | $39.15 Million | $24.19 Million | ▲ +50.0 pp |
| 2023 | -61.3% | $47.88 Million | $-78.07 Million | $52.65 Million | $4.77 Million | — |