Transurban Group (TCL) — Tangible Net Worth Ratio
Transurban Group (TCL) has a Tangible Net Worth Ratio of -101.8% as of December 2025. This metric is calculated by deducting intangible assets (AU$18.45 Billion) from net assets (AU$9.14 Billion) and expressing it as a percentage of total net assets. A higher ratio means that more of the company's equity is backed by tangible, balance-sheet-verifiable assets rather than goodwill, patents, or brand value. See Transurban Group (TCL) liquidity to equity ratio to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
Transurban Group Tangible Net Worth Ratio (1997–2025)
This chart shows how Transurban Group's Tangible Net Worth Ratio has changed across 29 annual periods from 1997 to 2025. As of December 2025, the ratio stands at -101.8%, reflecting net assets of AU$9.14 Billion with intangible assets of AU$18.45 Billion AUD. See operational self-sufficiency of Transurban Group to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Transurban Group (1997–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Transurban Group from 1997 to 2025, covering 29 annual filings. Each row shows net assets, intangible assets, total assets, the tangible net worth ratio, and the change in percentage points versus the prior year. For the full company profile including market capitalisation, see Transurban Group market capitalisation.
| Year | Tangible NW Ratio | Net Assets (AUD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | -96.8% | AU$9.51 Billion | AU$18.72 Billion | AU$35.57 Billion | ▼ -33.2 pp |
| 2024 | -63.6% | AU$11.68 Billion | AU$19.11 Billion | AU$36.69 Billion | ▼ -14.4 pp |
| 2023 | -49.2% | AU$13.28 Billion | AU$19.82 Billion | AU$37.72 Billion | ▼ -9.9 pp |
| 2022 | -39.3% | AU$15.23 Billion | AU$21.22 Billion | AU$38.97 Billion | ▲ +55.0 pp |
| 2021 | -94.4% | AU$11.14 Billion | AU$21.64 Billion | AU$35.67 Billion | ▲ +105.7 pp |
| 2020 | -200.0% | AU$8.80 Billion | AU$26.41 Billion | AU$37.97 Billion | ▼ -27.9 pp |
| 2019 | -172.1% | AU$9.90 Billion | AU$26.95 Billion | AU$35.96 Billion | ▲ +42.1 pp |
| 2018 | -214.2% | AU$6.77 Billion | AU$21.26 Billion | AU$26.44 Billion | ▲ +11.1 pp |
| 2017 | -225.3% | AU$5.80 Billion | AU$18.86 Billion | AU$23.32 Billion | ▼ -34.3 pp |
| 2016 | -191.0% | AU$6.46 Billion | AU$18.79 Billion | AU$23.04 Billion | ▼ -9.9 pp |
| 2015 | -181.1% | AU$6.00 Billion | AU$16.85 Billion | AU$21.24 Billion | ▼ -111.3 pp |
| 2014 | -69.8% | AU$5.96 Billion | AU$10.12 Billion | AU$14.87 Billion | ▲ +64.0 pp |
| 2013 | -133.8% | AU$3.36 Billion | AU$7.87 Billion | AU$10.07 Billion | ▼ -6.9 pp |
| 2012 | -126.9% | AU$3.49 Billion | AU$7.91 Billion | AU$9.90 Billion | ▼ -26.1 pp |
| 2011 | -100.8% | AU$3.99 Billion | AU$8.02 Billion | AU$10.40 Billion | ▼ -23.2 pp |
| 2010 | -77.6% | AU$4.18 Billion | AU$7.42 Billion | AU$10.08 Billion | ▲ +20.3 pp |
| 2009 | -97.9% | AU$3.84 Billion | AU$7.60 Billion | AU$10.26 Billion | ▼ -136.4 pp |
| 2008 | 38.5% | AU$4.07 Billion | AU$2.51 Billion | AU$10.59 Billion | ▲ +12.9 pp |
| 2007 | 25.5% | AU$4.02 Billion | AU$2.99 Billion | AU$11.62 Billion | ▼ -46.7 pp |
| 2006 | 72.2% | AU$2.46 Billion | AU$683.71 Million | AU$7.70 Billion | ▼ -27.8 pp |
| 2005 | 100.0% | AU$3.33 Billion | AU$0.00 | AU$6.82 Billion | ▲ +0.5 pp |
| 2004 | 99.5% | AU$1.84 Billion | AU$8.75 Million | AU$4.38 Billion | ▼ 0.0 pp |
| 2003 | 99.5% | AU$1.95 Billion | AU$9.25 Million | AU$4.35 Billion | ▼ 0.0 pp |
| 2002 | 99.5% | AU$2.07 Billion | AU$9.75 Million | AU$4.03 Billion | ▼ -0.5 pp |
| 2001 | 100.0% | AU$119.25 Million | AU$0.00 | AU$1.96 Billion | ▲ +0.0 pp |
| 2000 | 100.0% | AU$233.60 Million | AU$0.00 | AU$1.99 Billion | ▲ +0.0 pp |
| 1999 | 100.0% | AU$303.79 Million | AU$0.00 | AU$1.83 Billion | ▲ +0.0 pp |
| 1998 | 100.0% | AU$349.29 Million | AU$0.00 | AU$953.94 Million | ▲ +0.0 pp |
| 1997 | 100.0% | AU$394.79 Million | AU$0.00 | AU$806.72 Million | — |