SPB Exchange PJSC (MIC:SPBE) Change In Working Capital: ₽1,133 Mil (TTM As of Dec. 2025)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

MIC:SPBE SPB Exchange PJSC MIC:SPBE
23 GF Score
Price ₽137.10
View Full Analysis

What is SPB Exchange PJSC Change In Working Capital?

SPB Exchange PJSC MIC:SPBE +1.03% 23 Change In Working Capital is ₽1,133 Mil as of Dec. 2025. GuruFocus rates MIC:SPBE with a GF Score™ of 23/100.

SPB Exchange PJSC's change in working capital for the quarter that ended in Dec. 2025 was ₽2,158 Mil.

SPB Exchange PJSC's change in working capital for the fiscal year that ended in Dec. 2025 was ₽1,133 Mil.

It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement. Not by calculating the number changes in each periods' working capital (Total Current Assets minus Total Current Liabilities).


SPB Exchange PJSC Change In Working Capital Related Terms


SPB Exchange PJSC Change In Working Capital Historical Data

* Premium members only.

The historical data trend for SPB Exchange PJSC's Change In Working Capital can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

SPB Exchange PJSC Change In Working Capital Chart

SPB Exchange PJSC Annual Data
Trend Dec10 Dec11 Dec17 Dec18 Dec19 Dec20 Dec24 Dec25
Change In Working Capital
Get a 7-Day Free Trial - -241.99 8,268.81 -15,857.51 1,133.43

SPB Exchange PJSC Semi-Annual Data
Jun19 Dec19 Jun20 Dec20 Jun21 Jun24 Dec24 Jun25 Dec25
Change In Working Capital Get a 7-Day Free Trial Premium Member Only 14,853.65 -16,935.85 1,078.35 -1,024.72 2,158.15
MIC:SPBE
23GF Score
SPB Exchange PJSC MIC:SPBE
Change In Working Capital is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

SPB Exchange PJSC Change In Working Capital Calculation

Change In Working Capital for the trailing twelve months (TTM) ended in Dec. 2025 adds up the semi-annually data reported by the company within the most recent 12 months, which was ₽1,133 Mil.

Working Capital is a measure of a company's short term liquidity or its ability to cover short term liabilities. It is defined as the difference between a company's current assets and current liabilities.

Changes in Working Capital is reported in the cash flow statement since it is one of the major ways in which net income can differ from operating cash flow. It is calculated by adding the items under "Change in operating assets and liabilities" (may refer to a different name for different company) section in Cash Flow Statement.

Use Wal-Mart Stores Inc (Jan 2014, Annual Data) as an example: Source: Wal-Mart Stores Inc 2014-01-31 10-K from SEC

Consolidated Statements of Cash Flows Fiscal Years EndedJanuary 31,(Amounts in millions)
Cash flows from operating activities: 2014 2013 2012
Changes in certain assets and liabilities, net of effects of acquisitions:
Receivables, net (566) (614) (796)
Inventories (1,667) (2,759) (3,727)
Accounts payable 531 1,061 2,687
Accrued liabilities 103 271 (935)
Accrued income taxes (1,224) 981 994

For 2014-01-31, add all the items under 2014 collum together, Change in Working Capital was (566) + (1,667) + 531 + 103 + (1,224) = $ (2,823) Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

What does a Change In Working Capital of ₽1,133 Mil mean?
SPB Exchange PJSC (MIC:SPBE) has a Change In Working Capital of ₽1,133 Mil as of Dec. 2025. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for SPB Exchange PJSC.
Is SPB Exchange PJSC's Change In Working Capital too high?
SPB Exchange PJSC's current Change In Working Capital is ₽1,133 Mil. Overall, SPB Exchange PJSC has a GF Score™ of 23/100, reflecting its overall financial health beyond just this single metric.
How does SPB Exchange PJSC's Change In Working Capital compare to SPGI and CME?
SPB Exchange PJSC's Change In Working Capital of ₽1,133 Mil can be compared against companies in the Capital Markets industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Working Capital for a Capital Markets company?
A good Change In Working Capital depends on the Capital Markets industry context. However, Change In Working Capital should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Working Capital mean?
A high Change In Working Capital can signal that a stock is expensive relative to its fundamentals. Change in Working Capital is the difference between current assets less current liabilities between the current period and the past period. View historical data for SPB Exchange PJSC. SPB Exchange PJSC's current Change In Working Capital is ₽1,133 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is SPB Exchange PJSC stock overvalued right now?
SPB Exchange PJSC (MIC:SPBE) has a current Change In Working Capital of ₽1,133 Mil. The current Change In Working Capital is ₽1,133 Mil. SPB Exchange PJSC's overall GF Score™ is 23/100. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Working Capital calculated?
Change In Working Capital is calculated from a company's financial statements. For SPB Exchange PJSC (MIC:SPBE), the current Change In Working Capital is ₽1,133 Mil as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

SPB Exchange PJSC Business Description

Address 38 Dolgorukovskaya Street, Building 1, Moscow, RUS, 127006
SPB Exchange PJSC is an exchange for international securities in the Russian financial market. It operates according to a business-to-business and business-to-customer model, simultaneously focusing on retail investors and financial intermediaries as direct customers. The company provides access to investment products for Russian and international investors, operating through its trading infrastructure and order-routing mechanisms.
23GF Score

Get the complete analysis for MIC:SPBE

Change In Working Capital is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₽137.10
Price