Taiwan Mask Corp (2338) — Working Capital to Net Assets Ratio
Taiwan Mask Corp (2338) has a Working Capital to Net Assets ratio of -66.3% as of September 2025. Working capital of NT$-3.08 Billion (current assets of NT$5.18 Billion minus current liabilities of NT$8.26 Billion) is measured against net assets of NT$4.65 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See 2338 FCF to total liabilities ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Taiwan Mask Corp Working Capital to Net Assets (2009–2024)
This chart shows how Taiwan Mask Corp's Working Capital to Net Assets ratio has evolved across 16 annual periods from 2009 to 2024. As of September 2025, the ratio stands at -66.3%, reflecting working capital of NT$-3.08 Billion against net assets of NT$4.65 Billion TWD. See how many days can Taiwan Mask Corp fund operations to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Taiwan Mask Corp (2009–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Taiwan Mask Corp from 2009 to 2024, covering 16 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see market value of Taiwan Mask Corp.
| Year | WC/NA Ratio | Working Capital (TWD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -52.6% | NT$-2.14 Billion | NT$4.07 Billion | NT$7.31 Billion | NT$9.45 Billion | ▲ +1.1 pp |
| 2023 | -53.7% | NT$-2.71 Billion | NT$5.05 Billion | NT$5.91 Billion | NT$8.62 Billion | ▼ -29.5 pp |
| 2022 | -24.3% | NT$-1.08 Billion | NT$4.43 Billion | NT$5.90 Billion | NT$6.98 Billion | ▼ -66.7 pp |
| 2021 | 42.4% | NT$2.07 Billion | NT$4.87 Billion | NT$8.44 Billion | NT$6.37 Billion | ▲ +78.7 pp |
| 2020 | -36.2% | NT$-1.24 Billion | NT$3.42 Billion | NT$2.44 Billion | NT$3.68 Billion | ▼ -53.6 pp |
| 2019 | 17.3% | NT$540.53 Million | NT$3.12 Billion | NT$2.26 Billion | NT$1.72 Billion | ▼ -2.0 pp |
| 2018 | 19.3% | NT$496.09 Million | NT$2.57 Billion | NT$1.73 Billion | NT$1.24 Billion | ▼ -23.8 pp |
| 2017 | 43.0% | NT$1.07 Billion | NT$2.48 Billion | NT$1.62 Billion | NT$556.08 Million | ▼ -9.3 pp |
| 2016 | 52.4% | NT$1.69 Billion | NT$3.22 Billion | NT$1.98 Billion | NT$298.94 Million | ▼ -2.4 pp |
| 2015 | 54.7% | NT$1.98 Billion | NT$3.62 Billion | NT$2.27 Billion | NT$294.92 Million | ▲ +4.0 pp |
| 2014 | 50.7% | NT$1.97 Billion | NT$3.88 Billion | NT$2.27 Billion | NT$297.03 Million | ▲ +3.5 pp |
| 2013 | 47.2% | NT$1.88 Billion | NT$3.99 Billion | NT$2.22 Billion | NT$335.72 Million | ▲ +0.2 pp |
| 2012 | 47.1% | NT$1.93 Billion | NT$4.10 Billion | NT$2.48 Billion | NT$554.42 Million | ▼ -6.4 pp |
| 2011 | 53.4% | NT$2.33 Billion | NT$4.35 Billion | NT$2.87 Billion | NT$543.99 Million | ▲ +4.9 pp |
| 2010 | 48.5% | NT$2.25 Billion | NT$4.63 Billion | NT$2.78 Billion | NT$527.71 Million | ▲ +3.5 pp |
| 2009 | 45.0% | NT$2.27 Billion | NT$5.04 Billion | NT$2.84 Billion | NT$572.74 Million | — |