Vipshop Holdings Limited (VIPS) — Working Capital to Net Assets Ratio
Vipshop Holdings Limited (VIPS) has a Working Capital to Net Assets ratio of 21.1% as of September 2025. Working capital of $9.22 Billion (current assets of $40.27 Billion minus current liabilities of $31.05 Billion) is measured against net assets of $43.79 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See VIPS free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Vipshop Holdings Limited Working Capital to Net Assets (2009–2024)
This chart shows how Vipshop Holdings Limited's Working Capital to Net Assets ratio has evolved across 16 annual periods from 2009 to 2024. As of September 2025, the ratio stands at 21.1%, reflecting working capital of $9.22 Billion against net assets of $43.79 Billion USD. See defensive interval ratio of Vipshop Holdings Limited to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Vipshop Holdings Limited (2009–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Vipshop Holdings Limited from 2009 to 2024, covering 16 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 Vipshop Holdings Limited market cap and net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 19.0% | $7.88 Billion | $41.55 Billion | $37.80 Billion | $29.93 Billion | ▲ +1.0 pp |
| 2023 | 18.0% | $6.94 Billion | $38.56 Billion | $37.56 Billion | $30.62 Billion | ▲ +2.7 pp |
| 2022 | 15.3% | $5.21 Billion | $34.07 Billion | $33.73 Billion | $28.53 Billion | ▼ -5.6 pp |
| 2021 | 20.9% | $7.07 Billion | $33.83 Billion | $32.84 Billion | $25.77 Billion | ▲ +5.2 pp |
| 2020 | 15.7% | $4.60 Billion | $29.39 Billion | $31.17 Billion | $26.57 Billion | ▲ +19.7 pp |
| 2019 | -4.0% | $-897.59 Million | $22.25 Billion | $23.03 Billion | $23.93 Billion | ▼ -12.1 pp |
| 2018 | 8.0% | $1.38 Billion | $17.21 Billion | $27.33 Billion | $25.95 Billion | ▼ -38.7 pp |
| 2017 | 46.7% | $6.66 Billion | $14.25 Billion | $25.92 Billion | $19.26 Billion | ▲ +46.8 pp |
| 2016 | 0.0% | $-2.59 Million | $5.78 Billion | $14.58 Billion | $14.58 Billion | ▲ +0.3 pp |
| 2015 | -0.4% | $-12.68 Million | $3.61 Billion | $12.15 Billion | $12.17 Billion | ▼ -114.0 pp |
| 2014 | 113.6% | $3.06 Billion | $2.70 Billion | $13.22 Billion | $10.15 Billion | ▲ +28.0 pp |
| 2013 | 85.6% | $1.26 Billion | $1.47 Billion | $6.28 Billion | $5.02 Billion | ▲ +6.1 pp |
| 2012 | 79.5% | $409.57 Million | $515.47 Million | $2.38 Billion | $1.97 Billion | ▲ +29.5 pp |
| 2011 | 49.9% | $57.39 Million | $114.95 Million | $994.78 Million | $937.38 Million | ▼ -65.5 pp |
| 2010 | 115.5% | $-77.45 Million | $-67.07 Million | $103.26 Million | $180.70 Million | ▲ +5.4 pp |
| 2009 | 110.1% | $-11.65 Million | $-10.58 Million | $17.64 Million | $29.29 Million | — |