Tucows Inc. (TC) — Working Capital to Net Assets Ratio
Tucows Inc. (TC) has a Working Capital to Net Assets ratio of 131.5% as of March 2026. Working capital of CA$-237.86 Million (current assets of CA$98.38 Million minus current liabilities of CA$336.24 Million) is measured against net assets of CA$-180.86 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See TC days of operational coverage to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Tucows Inc. Working Capital to Net Assets (1996–2025)
This chart shows how Tucows Inc.'s Working Capital to Net Assets ratio has evolved across 30 annual periods from 1996 to 2025. As of March 2026, the ratio stands at 131.5%, reflecting working capital of CA$-237.86 Million against net assets of CA$-180.86 Million CAD. For the complete balance sheet picture, see balance sheet size of Tucows Inc..
Annual Working Capital to Net Assets for Tucows Inc. (1996–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Tucows Inc. from 1996 to 2025, covering 30 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. Check how resilient are Tucows Inc.'s assets to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (CAD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 136.7% | CA$-224.48 Million | CA$-164.20 Million | CA$105.94 Million | CA$330.43 Million | ▲ +142.5 pp |
| 2024 | -5.8% | CA$5.53 Million | CA$-95.30 Million | CA$205.38 Million | CA$199.85 Million | ▼ -425.2 pp |
| 2023 | 419.4% | CA$41.42 Million | CA$9.88 Million | CA$242.76 Million | CA$201.34 Million | ▲ +438.3 pp |
| 2022 | -18.9% | CA$-18.27 Million | CA$96.66 Million | CA$169.92 Million | CA$188.19 Million | ▲ +4.3 pp |
| 2021 | -23.2% | CA$-26.68 Million | CA$115.09 Million | CA$147.00 Million | CA$173.68 Million | ▼ -2.4 pp |
| 2020 | -20.8% | CA$-21.77 Million | CA$104.70 Million | CA$141.20 Million | CA$162.97 Million | ▼ -8.9 pp |
| 2019 | -11.9% | CA$-11.23 Million | CA$94.19 Million | CA$145.68 Million | CA$156.91 Million | ▲ +30.0 pp |
| 2018 | -41.9% | CA$-33.42 Million | CA$79.78 Million | CA$131.93 Million | CA$165.35 Million | ▼ -0.9 pp |
| 2017 | -41.0% | CA$-24.70 Million | CA$60.21 Million | CA$153.86 Million | CA$178.56 Million | ▼ -38.0 pp |
| 2016 | -3.0% | CA$-1.15 Million | CA$37.82 Million | CA$83.28 Million | CA$84.43 Million | ▲ +24.1 pp |
| 2015 | -27.2% | CA$-7.15 Million | CA$26.33 Million | CA$71.11 Million | CA$78.26 Million | ▼ -41.0 pp |
| 2014 | 13.8% | CA$4.93 Million | CA$35.64 Million | CA$74.47 Million | CA$69.53 Million | ▲ +33.7 pp |
| 2013 | -19.8% | CA$-5.33 Million | CA$26.92 Million | CA$68.11 Million | CA$73.44 Million | ▲ +6.5 pp |
| 2012 | -26.3% | CA$-6.98 Million | CA$26.55 Million | CA$63.81 Million | CA$70.79 Million | ▼ -10.1 pp |
| 2011 | -16.2% | CA$-4.92 Million | CA$30.42 Million | CA$58.33 Million | CA$63.24 Million | ▲ +16.2 pp |
| 2010 | -32.4% | CA$-7.75 Million | CA$23.92 Million | CA$48.06 Million | CA$55.81 Million | ▼ -24.0 pp |
| 2009 | -8.4% | CA$-2.60 Million | CA$31.10 Million | CA$49.33 Million | CA$51.93 Million | ▲ +35.2 pp |
| 2008 | -43.6% | CA$-9.34 Million | CA$21.45 Million | CA$40.70 Million | CA$50.05 Million | ▲ +7.7 pp |
| 2007 | -51.2% | CA$-9.92 Million | CA$19.35 Million | CA$43.19 Million | CA$53.11 Million | ▼ -22.8 pp |
| 2006 | -28.4% | CA$-5.28 Million | CA$18.54 Million | CA$35.81 Million | CA$41.08 Million | ▼ -97.5 pp |
| 2005 | 69.1% | CA$9.04 Million | CA$13.09 Million | CA$41.83 Million | CA$32.79 Million | ▲ +15.0 pp |
| 2004 | 54.1% | CA$4.03 Million | CA$7.46 Million | CA$34.24 Million | CA$30.21 Million | ▼ -200.1 pp |
| 2003 | 254.2% | CA$2.20 Million | CA$866.12K | CA$28.80 Million | CA$26.60 Million | ▲ +175.9 pp |
| 2002 | 78.3% | CA$-1.07 Million | CA$-1.36 Million | CA$23.22 Million | CA$24.28 Million | ▼ -126.6 pp |
| 2001 | 205.0% | CA$-6.95 Million | CA$-3.39 Million | CA$17.71 Million | CA$24.66 Million | ▲ +123.1 pp |
| 2000 | 81.8% | CA$10.19 Million | CA$12.45 Million | CA$13.42 Million | CA$3.23 Million | ▲ +31.2 pp |
| 1999 | 50.7% | CA$11.60 Million | CA$22.90 Million | CA$18.70 Million | CA$7.10 Million | ▼ -116.0 pp |
| 1998 | 166.7% | CA$-5.50 Million | CA$-3.30 Million | CA$7.40 Million | CA$12.90 Million | ▲ +98.1 pp |
| 1997 | 68.6% | CA$7.20 Million | CA$10.50 Million | CA$15.10 Million | CA$7.90 Million | ▼ -24.9 pp |
| 1996 | 93.5% | CA$25.90 Million | CA$27.70 Million | CA$28.40 Million | CA$2.50 Million | — |