iCFO Finsight: Where Working Capital Is Highest — and Lowest 

Business advisors often hear: 
“Is our working capital healthy?” 

The answer depends entirely on the industry. 

Based on analysis of 1M+ U.S. companies in the iCFO database, median working capital ratios vary dramatically: 

Industries with the Highest Working Capital: 

• Libraries & Archives 

• Labor Unions 

• Museums 

• Grantmaking Foundations 

• Securities Brokerage 

Median ratios in these sectors range from 4.2 to nearly 9.0. 

These organizations often operate with advance funding, reserves, and conservative balance sheets. 

Industries with the Tightest Working Capital: 

• Hotels 

• Amusement & Theme Parks 

• Bed-and-Breakfasts 

• Car Rental 

• Limited-Service Restaurants 

Median ratios here range from 0.64 to 0.90. 

These are asset-intensive, payroll-heavy businesses where tight liquidity is structural — not necessarily mismanagement. 

📌 Bottom line: 
Working capital norms are industry-driven. 
Benchmarking without context leads to misleading conclusions. 

If you’re mentoring, advising, or coaching business owners, industry-adjusted context matters. 

📊 Want size- and industry-based benchmarks? 

Create a free account and generate your own 1-Year Industry Report here: 

👉 https://secure.icfo.pro/industry-metrics/build-free-industry-report/1-year 

Your report breaks performance into size groups and peer percentiles — the same methodology used in our Finsights series.