{"iri":"https://lexicon.financial/ext/WorkingCapital","label":"Working Capital","definition":"Current assets minus current liabilities. In M&A, the Purchase Agreement typically includes a working-capital target (or 'peg') — a normalized level the seller agrees to deliver at close. Shortfall reduces the purchase price dollar-for-dollar; surplus may increase it. Measured against a trailing-twelve-month average to smooth seasonality.","license":"https://spdx.org/licenses/MIT","source":"ext","source_url":"https://lexicon.financial/ext/"}