ARS Pharmaceuticals, Inc (SPRY) — Working Capital to Net Assets Ratio
ARS Pharmaceuticals, Inc (SPRY) has a Working Capital to Net Assets ratio of 215.1% as of December 2025. Working capital of $245.75 Million (current assets of $284.90 Million minus current liabilities of $39.15 Million) is measured against net assets of $114.26 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See net asset quality index of ARS Pharmaceuticals, Inc to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
ARS Pharmaceuticals, Inc Working Capital to Net Assets (2018–2025)
This chart shows how ARS Pharmaceuticals, Inc's Working Capital to Net Assets ratio has evolved across 8 annual periods from 2018 to 2025. As of December 2025, the ratio stands at 215.1%, reflecting working capital of $245.75 Million against net assets of $114.26 Million USD. Check SPRY tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for ARS Pharmaceuticals, Inc (2018–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for ARS Pharmaceuticals, Inc from 2018 to 2025, covering 8 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 ARS Pharmaceuticals, Inc stock valuation.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 215.1% | $245.75 Million | $114.26 Million | $284.90 Million | $39.15 Million | ▲ +94.0 pp |
| 2024 | 121.1% | $310.86 Million | $256.80 Million | $334.30 Million | $23.44 Million | ▲ +21.7 pp |
| 2023 | 99.3% | $229.17 Million | $230.76 Million | $231.56 Million | $2.39 Million | ▼ -0.5 pp |
| 2022 | 99.8% | $272.26 Million | $272.89 Million | $277.70 Million | $5.44 Million | ▲ +267.8 pp |
| 2021 | -168.0% | $52.54 Million | $-31.27 Million | $60.73 Million | $8.19 Million | ▼ -38.7 pp |
| 2020 | -129.3% | $18.17 Million | $-14.05 Million | $26.38 Million | $8.21 Million | ▼ -261.4 pp |
| 2019 | 132.0% | $-7.40 Million | $-5.60 Million | $10.53 Million | $17.93 Million | ▲ +46.1 pp |
| 2018 | 85.9% | $15.63 Million | $18.20 Million | $20.78 Million | $5.14 Million | — |