Netcapital Inc (NCPL) — Working Capital to Net Assets Ratio
Netcapital Inc (NCPL) has a Working Capital to Net Assets ratio of -13.5% as of January 2026. Working capital of $-2.92 Million (current assets of $1.04 Million minus current liabilities of $3.96 Million) is measured against net assets of $21.60 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See NCPL 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
Netcapital Inc Working Capital to Net Assets (2014–2025)
This chart shows how Netcapital Inc's Working Capital to Net Assets ratio has evolved across 10 annual periods from 2014 to 2025. As of January 2026, the ratio stands at -13.5%, reflecting working capital of $-2.92 Million against net assets of $21.60 Million USD. See Netcapital Inc defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Netcapital Inc (2014–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Netcapital Inc from 2014 to 2025, covering 10 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 Netcapital Inc stock valuation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -34.2% | $-5.10 Million | $14.91 Million | $399.61K | $5.50 Million | ▼ -28.7 pp |
| 2024 | -5.5% | $-2.07 Million | $37.94 Million | $1.04 Million | $3.12 Million | ▲ +1.8 pp |
| 2023 | -7.3% | $-2.62 Million | $36.16 Million | $2.54 Million | $5.16 Million | ▲ +5.1 pp |
| 2022 | -12.3% | $-3.11 Million | $25.24 Million | $2.91 Million | $6.03 Million | ▲ +20.6 pp |
| 2021 | -32.9% | $-4.67 Million | $14.18 Million | $4.48 Million | $9.15 Million | ▲ +96.3 pp |
| 2020 | -129.2% | $-877.58K | $679.16K | $656.76K | $1.53 Million | ▼ -189.2 pp |
| 2019 | 60.0% | $-518.88K | $-865.26K | $65.81K | $584.68K | ▲ +23.6 pp |
| 2018 | 36.3% | $-538.99K | $-1.48 Million | $43.41K | $582.40K | ▼ -63.7 pp |
| 2017 | 100.0% | $-2.59 Million | $-2.59 Million | $19.75K | $2.61 Million | ▲ +60.0 pp |
| 2014 | 40.0% | $-284.23K | $-710.51K | $1.62K | $285.85K | — |