First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued (TRAXV) — Working Capital to Net Assets Ratio
First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued (TRAXV) has a Working Capital to Net Assets ratio of 99.5% as of March 2026. Working capital of $256.29 Million (current assets of $289.40 Million minus current liabilities of $33.11 Million) is measured against net assets of $257.46 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See TRAXV 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
First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued Working Capital to Net Assets (2023–2024)
This chart shows how First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued's Working Capital to Net Assets ratio has evolved across 2 annual periods from 2023 to 2024. As of March 2026, the ratio stands at 99.5%, reflecting working capital of $256.29 Million against net assets of $257.46 Million USD. See operational self-sufficiency of First Tracks Biotherapeutics, Inc. Ordin to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued (2023–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for First Tracks Biotherapeutics, Inc. Ordinary Shares When-Issued 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 First Tracks Biotherapeutics, Inc. Ordin market cap and net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 90.3% | $353.75 Million | $391.60 Million | $389.93 Million | $36.18 Million | ▼ -2.5 pp |
| 2023 | 92.8% | $380.33 Million | $409.85 Million | $398.56 Million | $18.22 Million | — |