Phathom Pharmaceuticals Inc (PHAT) — Working Capital to Net Assets Ratio
Phathom Pharmaceuticals Inc (PHAT) has a Working Capital to Net Assets ratio of -27.1% as of September 2025. Working capital of $114.66 Million (current assets of $207.78 Million minus current liabilities of $93.12 Million) is measured against net assets of $-422.53 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See Phathom Pharmaceuticals Inc financial flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Phathom Pharmaceuticals Inc Working Capital to Net Assets (2018–2024)
This chart shows how Phathom Pharmaceuticals Inc's Working Capital to Net Assets ratio has evolved across 7 annual periods from 2018 to 2024. As of September 2025, the ratio stands at -27.1%, reflecting working capital of $114.66 Million against net assets of $-422.53 Million USD. See PHAT defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Phathom Pharmaceuticals Inc (2018–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Phathom Pharmaceuticals Inc from 2018 to 2024, 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. For live market cap and the full company profile, see PHAT company net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -108.2% | $274.41 Million | $-253.58 Million | $360.13 Million | $85.73 Million | ▲ +384.7 pp |
| 2023 | -492.9% | $358.65 Million | $-72.76 Million | $397.43 Million | $38.78 Million | ▼ -313.5 pp |
| 2022 | -179.5% | $134.28 Million | $-74.81 Million | $160.51 Million | $26.24 Million | ▼ -411.8 pp |
| 2021 | 232.3% | $167.60 Million | $72.16 Million | $186.53 Million | $18.92 Million | ▲ +110.9 pp |
| 2020 | 121.4% | $235.84 Million | $194.27 Million | $291.37 Million | $55.52 Million | ▲ +10.9 pp |
| 2019 | 110.5% | $251.85 Million | $227.96 Million | $255.60 Million | $3.75 Million | ▲ +10.5 pp |
| 2018 | 100.0% | $-1.29 Million | $-1.29 Million | $902.00K | $2.19 Million | — |