XChange TEC.INC (XHG) — Working Capital to Net Assets Ratio
XChange TEC.INC (XHG) has a Working Capital to Net Assets ratio of 103.3% as of December 2025. Working capital of $-909.51 Million (current assets of $39.86 Million minus current liabilities of $949.37 Million) is measured against net assets of $-880.33 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See XHG net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
XChange TEC.INC Working Capital to Net Assets (2017–2025)
This chart shows how XChange TEC.INC's Working Capital to Net Assets ratio has evolved across 9 annual periods from 2017 to 2025. As of December 2025, the ratio stands at 103.3%, reflecting working capital of $-909.51 Million against net assets of $-880.33 Million USD. See XHG cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for XChange TEC.INC (2017–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for XChange TEC.INC from 2017 to 2025, covering 9 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 XChange TEC.INC (XHG) total market value.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 103.3% | $-909.51 Million | $-880.33 Million | $39.86 Million | $949.37 Million | ▼ -125.1 pp |
| 2024 | 228.4% | $-1.27 Billion | $-556.57 Million | $67.64 Million | $1.34 Billion | ▲ +128.4 pp |
| 2023 | 100.0% | $-643.42 Million | $-643.42 Million | $85.65 Million | $729.08 Million | ▼ -4.3 pp |
| 2022 | 104.3% | $-597.24 Million | $-572.86 Million | $71.16 Million | $668.40 Million | ▲ +16.9 pp |
| 2021 | 87.4% | $-2.17 Billion | $-2.48 Billion | $176.67 Million | $2.35 Billion | ▼ -0.8 pp |
| 2020 | 88.2% | $-1.76 Billion | $-1.99 Billion | $203.00 Million | $1.96 Billion | ▲ +106.0 pp |
| 2019 | -17.8% | $144.16 Million | $-810.87 Million | $159.80 Million | $15.64 Million | ▼ -14.1 pp |
| 2018 | -3.7% | $28.90 Million | $-779.13 Million | $103.75 Million | $74.85 Million | ▲ +65.5 pp |
| 2017 | -69.3% | $295.01 Million | $-425.97 Million | $365.12 Million | $70.11 Million | — |