Worksport Ltd. (WKSP) Balance Sheet

NASDAQ: WKSPAssets, liabilities, debt and equity over 10 years.

WKSP balance sheet, 2025

December 31, 2025 · U.S. dollars

$30.8M assets = $7.8M liabilities + $22.9M equity

Both columns are drawn to the same scale: what WKSP owns equals what it owes plus shareholders’ equity. Hover a block for its value.

WKSP financial health

Current ratio2.50

Comfortable · current assets cover current liabilities 2.50×

Debt / equity0.13

Low leverage · $0.13 of debt for each $1 of equity

Equity / assets74.5%

Equity-funded · of assets funded by shareholders

Cash / debt204.3%

Cash covers debt · cash & short-term investments vs total debt

Goodwill & intangibles2.9%

Mostly tangible · of total assets

Descriptive bands, not a rating. Fiscal 2025.

WKSP balance sheet trends, 2016–2025

Worksport Ltd. balance sheet trends
Metric	Then	Latest	Change
Total assets	$336,7492016	$30.8M2025	+65.1%/yr
Total liabilities	$1.3M2016	$7.8M2025	+21.7%/yr
Shareholders’ equity	−$1.0M2016	$22.9M2025	—
Cash & short-term investments	$02016	$5.9M2025	—
Total debt	$291,6822016	$2.9M2025	+29.1%/yr
Net cash (debt)	−$291,6822016	$3.0M2025	+$3.3M
Working capital	−$953,3742016	$10.1M2025	+$11.0M
Book value per share	−$0.092016	$2.952025	—
Current ratio	0.232016	2.502025	+2.27
Debt / equity	0.802017	0.132025	−0.68
Shares outstanding	11.3M2016	7.8M2025	−4.0%/yr

Change is the average annual growth (CAGR) or the difference between the first and latest year.

WKSP assets

Cash & ST investmentsReceivablesInventoryOther currentPP&EGoodwill & intangiblesLT investmentsOther non-current

WKSP liabilities and equity

Current liabilitiesLong-term debtOther long-term liabilitiesEquity

WKSP debt vs cash

Total debtCash & ST investmentsNet cash (debt)

Debt includes short- and long-term borrowings and, where reported, lease obligations.

WKSP balance sheet

Worksport Ltd. annual balance sheet
	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
Assets
Cash & short-term investments	$5.9M	$4.9M	$4.9M	$15.3M	$28.6M	$1.1M	$11,993	$25,323	$66,961	$0
Cash & equivalents	$5.9M	$4.9M	$3.4M	$14.6M	$28.6M	$1.1M	$11,993	$25,323	$66,961	$0
Short-term investments	—	—	$1.5M	$699,765	$384,065	$14,505	—	—	—	—
Receivables	$781,998	$212,317	$628,987	$330,633	$247,405	$122,787	$67,795	$61,883	$189,502	$88,916
Inventory	$9.5M	$5.2M	$3.6M	$1.3M	$501,772	$40,803	$113,156	$289,516	$44,635	$78,975
Other current assets	$530,861	$192,192	$5,215	$1.3M	$4.7M	$398,857	$60,741	$124,113	$411,731	$116,267
Total current assets	$16.8M	$10.5M	$9.1M	$18.3M	$34.0M	$1.7M	$253,685	$500,835	$712,829	$284,158
Property, plant & equipment (net)	$13.0M	$14.2M	$15.4M	$13.1M	$1.6M	$130,017	$154,820	$43,860	$43,079	$0
Goodwill & intangible assets	$896,531	$953,049	$1.3M	$1.3M	$593,053	$62,948	$57,145	$12,673	$13,096	$13,328
Long-term investments	$67,033	$66,308	$90,731	$24,423	$24,423	$24,423	$15,658	$0	$0	$0
Other non-current assets	$55,684	$0	$0	$0	$0	$0	$0	$0	$136,466	$39,263
Total assets	$30.8M	$25.7M	$26.0M	$32.8M	$36.3M	$1.9M	$481,308	$557,368	$905,470	$336,749
Liabilities
Accounts payable	$3.1M	$1.5M	$1.3M	$2.0M	$1.1M	$891,897	$969,321	$401,766	$230,770	$340,270
Short-term debt	$1.8M	$469,527	$5.6M	$433,425	$540,074	$698,170	$318,519	$296,797	$298,055	$187,598
Deferred revenue	—	—	—	−$2.1M	—	—	—	—	$4,796	—
Total current liabilities	$6.7M	$3.2M	$7.2M	$2.5M	$1.8M	$1.7M	$1.3M	$780,928	$533,939	$1.2M
Long-term debt	$950,481	$4.8M	$0	$5.3M	$0	$0	$0	$0	$0	$104,084
Lease obligations	$272,538	$615,007	$936,990	$1.3M	$529,917	$38,507	$61,185	—	—	—
Other long-term liabilities	$159,525	$368,472	$608,761	$884,146	$316,988	$14,624	$39,185	$698,563	$528,825	$0
Total liabilities	$7.8M	$8.3M	$7.8M	$8.6M	$2.1M	$1.7M	$1.4M	$780,928	$533,939	$1.3M
Shareholders' equity
Common stock & paid-in capital	$9,814	$4,016	$2,032	$1,716	$1,696	$382	$4,191	$2,463	$12,233	$6,809
Retained earnings (deficit)	−$83.9M	−$64.5M	−$48.3M	−$33.4M	−$20.8M	−$12.9M	−$11.7M	−$10.4M	−$8.6M	−$5.2M
Accumulated other comprehensive income	$5.4M	−$8,580	$1.8M	−$8,580	−$8,580	$369,270	$2.1M	−$3,613	−$44,383	−$3,778
Total shareholders' equity	$22.9M	$17.4M	$18.2M	$24.1M	$34.2M	$169,475	−$882,561	−$223,560	$371,531	−$1.0M
Key figures
Total debt	$2.9M	$5.6M	$6.2M	$6.6M	$857,062	$712,794	$357,704	$296,797	$298,055	$291,682
Net cash (debt)	$3.0M	−$735,905	−$1.4M	$8.7M	$27.7M	$409,523	−$345,711	−$271,474	−$231,094	−$291,682
Working capital	$10.1M	$7.3M	$2.0M	$15.9M	$32.2M	−$33,289	−$1.1M	−$280,093	$178,890	−$953,374
Tangible book value	$22.0M	$16.5M	$16.8M	$22.8M	$33.6M	$106,527	−$939,706	−$236,233	$358,435	−$1.0M
Book value per share	$2.95	$2.56	$1.82	$2.42	$2.97	—	—	—	—	−$0.09
Shares outstanding	7.8M	6.8M	10.0M	10.0M	11.5M	—	—	—	—	11.3M
Current ratio	2.50	3.30	1.27	7.45	18.94	0.98	0.19	0.64	1.34	0.23
Quick ratio	1.00	1.61	0.77	6.36	16.04	0.72	0.06	0.11	0.48	0.07
Debt / equity	0.13	0.32	0.34	0.27	0.03	4.21	—	—	0.80	—
Equity / assets	74.5%	67.7%	70.0%	73.6%	94.2%	8.9%	−183.4%	−40.1%	41.0%	−298.4%

Worksport Ltd. quarterly balance sheet
	Jun '26	Mar '26	Dec '25	Sep '25	Jun '25	Mar '25	Dec '24	Sep '24	Jun '24	Mar '24	Dec '23	Sep '23
Assets
Cash & short-term investments	$1.2M	$566,583	$5.9M	$3.8M	$1.4M	$5.1M	$4.9M	$1.9M	$3.5M	$3.8M	$4.9M	$3.0M
Cash & equivalents	$1.2M	$566,583	$5.9M	$3.8M	$1.4M	$5.1M	$4.9M	$1.9M	$3.4M	$3.5M	$3.4M	$3.0M
Short-term investments	—	—	—	—	—	—	—	—	$96,812	$283,150	$1.5M	$694,343
Receivables	$1.3M	$770,510	$781,998	$724,776	$524,047	$264,694	$212,317	$634,712	$623,386	$156,344	$628,987	$682,144
Inventory	$12.1M	$11.6M	$9.5M	$6.8M	$5.9M	$5.7M	$5.2M	$6.1M	$6.4M	$6.5M	$3.6M	$3.6M
Other current assets	$344,025	$510,219	$530,861	$1.1M	$692,292	$384,263	$192,192	$256,600	$210,169	$228,639	$5,215	$694,343
Total current assets	$14.9M	$13.5M	$16.8M	$12.4M	$8.5M	$11.5M	$10.5M	$8.9M	$10.7M	$10.7M	$9.1M	$7.9M
Property, plant & equipment (net)	$12.2M	$13.6M	$13.0M	$13.5M	$13.9M	$14.0M	$14.2M	$14.6M	$15.0M	$15.1M	$15.4M	$15.3M
Goodwill & intangible assets	$665,340	$757,812	$896,531	$1.0M	$1.0M	$1.1M	$953,049	$1.3M	$1.3M	$1.3M	$1.3M	$1.3M
Long-term investments	$367,079	$67,033	$67,033	$122,681	$122,681	$66,308	$66,308	$90,731	$90,731	$90,731	$90,731	$90,731
Other non-current assets	$0	$1,577	$55,684	$512,393	$0	$0	$0	$0	$0	$0	$0	$0
Total assets	$28.1M	$27.9M	$30.8M	$27.6M	$23.6M	$26.7M	$25.7M	$24.9M	$27.2M	$27.3M	$26.0M	$24.6M
Liabilities
Accounts payable	$2.4M	$2.8M	$3.1M	$2.8M	$2.0M	$1.8M	$1.5M	$2.5M	$1.8M	$2.3M	$1.5M	$1.9M
Short-term debt	$393,576	$2.6M	$1.8M	$1.9M	$559,563	$471,533	$469,527	$438,540	$243,203	$5.6M	$5.6M	$5.6M
Deferred revenue	—	—	—	—	—	—	—	—	—	—	—	−$1.9M
Total current liabilities	$3.9M	$6.9M	$6.7M	$6.1M	$3.7M	$3.5M	$3.2M	$3.0M	$2.3M	$7.8M	$7.2M	$7.6M
Long-term debt	$5.0M	$884,256	$950,481	$1.0M	$2.1M	$2.7M	$4.8M	$5.1M	$5.3M	$0	$0	$0
Lease obligations	$217,677	$244,857	$272,538	$299,318	$760,964	$554,814	$615,007	$681,754	$728,654	$824,630	$936,990	$985,425
Other long-term liabilities	$105,195	$128,877	$159,525	$189,116	$437,266	$310,337	$368,472	$433,214	$485,451	$546,566	$608,761	$643,415
Total liabilities	$9.0M	$7.9M	$7.8M	$7.3M	$6.3M	$6.5M	$8.3M	$8.6M	$8.0M	$8.4M	$7.8M	$8.2M
Shareholders' equity
Common stock & paid-in capital	$15,282	$11,925	$9,814	$7,588	$5,518	$4,795	$4,016	$3,092	$2,852	$2,410	$2,032	$1,744
Retained earnings (deficit)	−$93.7M	−$89.7M	−$83.9M	−$77.6M	−$72.7M	−$68.9M	−$64.5M	−$60.2M	−$56.0M	−$52.0M	−$48.3M	−$44.7M
Accumulated other comprehensive income	$2.1M	$2.2M	$5.4M	$2.1M	−$8,580	−$8,580	−$8,580	−$8,580	$6.0M	$1.9M	$1.8M	$1.6M
Total shareholders' equity	$19.1M	$20.0M	$22.9M	$20.3M	$17.3M	$20.1M	$17.4M	$16.4M	$19.1M	$18.9M	$18.2M	$16.4M
Key figures
Total debt	$5.5M	$3.7M	$2.9M	$3.1M	$3.1M	$3.5M	$5.6M	$6.0M	$6.0M	$6.1M	$6.2M	$6.3M
Net cash (debt)	−$4.3M	−$3.1M	$3.0M	$674,022	−$1.7M	$1.6M	−$735,905	−$4.2M	−$2.5M	−$2.3M	−$1.4M	−$3.3M
Working capital	$11.0M	$6.6M	$10.1M	$6.3M	$4.8M	$7.9M	$7.3M	$5.9M	$8.5M	$2.9M	$2.0M	$330,363
Tangible book value	$18.4M	$19.2M	$22.0M	$19.3M	$16.3M	$19.0M	$16.5M	$15.0M	$17.8M	$17.6M	$16.8M	$15.1M
Book value per share	$1.61	$1.85	$2.61	$2.61	$2.22	$2.59	$2.56	$2.41	$1.92	$1.89	$1.82	$1.64
Shares outstanding	11.9M	10.8M	8.8M	7.8M	7.8M	7.8M	6.8M	6.8M	10.0M	10.0M	10.0M	10.0M
Current ratio	3.79	1.95	2.50	2.04	2.27	3.26	3.30	2.96	4.77	1.37	1.27	1.04
Quick ratio	0.63	0.19	1.00	0.74	0.51	1.52	1.61	0.83	1.84	0.51	0.77	0.48
Debt / equity	0.29	0.18	0.13	0.15	0.18	0.17	0.32	0.37	0.31	0.32	0.34	0.38
Equity / assets	67.9%	71.7%	74.5%	73.6%	73.4%	75.5%	67.7%	65.6%	70.4%	69.3%	70.0%	66.7%

Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 26, 2026); data from EODHD.

WKSP financial position

At the end of fiscal 2025 (December 31, 2025), Worksport had total assets of $30.8 million (up 19.6% from a year earlier), total liabilities of $7.8 million and shareholders' equity of $22.9 million. It held $5.9 million in cash and short-term investments against $2.9 million of debt, a net cash position of $3.0 million. Its current ratio was 2.50. In the latest quarter (ended June 30, 2026) total assets were $28.1 million and equity $19.1 million.

Related: WKSP income statement, WKSP cash flow statement, WKSP key metrics. See the WKSP stock overview for the latest quote and news.

WKSP balance sheet FAQ

What are Worksport's total assets?

Worksport reported total assets of $30.8 million at the end of fiscal 2025 (December 31, 2025), compared with $25.7 million a year earlier.

How much debt does Worksport have?

Worksport had $2.9 million of total debt at the end of fiscal 2025, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.13.

How much cash does Worksport have?

Worksport held $5.9 million in cash and short-term investments at the end of fiscal 2025; with $2.9 million of debt that is net cash of $3.0 million.

What is Worksport's book value?

Worksport's shareholders' equity (book value) was $22.9 million at the end of fiscal 2025, or $2.95 per share.

What is Worksport's current ratio?

Worksport had current assets of $16.8 million and current liabilities of $6.7 million, a current ratio of 2.50 (it can cover its short-term obligations).

How much goodwill does Worksport have?

Worksport carried $0.9 million of goodwill and intangible assets, 2.9% of total assets, at the end of fiscal 2025.