Vestas Wind Systems A/S (VWS) — Tangible Net Worth Ratio
Vestas Wind Systems A/S (VWS) has a Tangible Net Worth Ratio of 51.0% as of March 2026. This metric is calculated by deducting intangible assets (Dkr1.92 Billion) from net assets (Dkr3.92 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 VWS current assets 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
Vestas Wind Systems A/S Tangible Net Worth Ratio (2000–2025)
This chart shows how Vestas Wind Systems A/S's Tangible Net Worth Ratio has changed across 26 annual periods from 2000 to 2025. As of March 2026, the ratio stands at 51.0%, reflecting net assets of Dkr3.92 Billion with intangible assets of Dkr1.92 Billion DKK. See defensive interval ratio of Vestas Wind Systems A/S to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for Vestas Wind Systems A/S (2000–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for Vestas Wind Systems A/S from 2000 to 2025, covering 26 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 VWS market cap overview.
| Year | Tangible NW Ratio | Net Assets (DKK) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | 50.0% | Dkr3.88 Billion | Dkr1.94 Billion | Dkr25.73 Billion | ▲ +3.1 pp |
| 2024 | 46.9% | Dkr3.52 Billion | Dkr1.87 Billion | Dkr24.62 Billion | ▲ +2.6 pp |
| 2023 | 44.2% | Dkr3.04 Billion | Dkr1.70 Billion | Dkr22.51 Billion | ▼ -5.1 pp |
| 2022 | 49.3% | Dkr3.06 Billion | Dkr1.55 Billion | Dkr20.09 Billion | ▼ -16.6 pp |
| 2021 | 65.9% | Dkr4.76 Billion | Dkr1.62 Billion | Dkr19.71 Billion | ▲ +0.3 pp |
| 2020 | 65.7% | Dkr4.70 Billion | Dkr1.61 Billion | Dkr18.16 Billion | ▼ -9.7 pp |
| 2019 | 75.4% | Dkr3.35 Billion | Dkr822.00 Million | Dkr14.33 Billion | ▼ -1.5 pp |
| 2018 | 76.9% | Dkr3.10 Billion | Dkr717.00 Million | Dkr11.90 Billion | ▼ -3.9 pp |
| 2017 | 80.8% | Dkr3.11 Billion | Dkr597.00 Million | Dkr10.87 Billion | ▼ -2.9 pp |
| 2016 | 83.7% | Dkr3.19 Billion | Dkr519.00 Million | Dkr9.93 Billion | ▼ -1.3 pp |
| 2015 | 85.0% | Dkr2.90 Billion | Dkr435.00 Million | Dkr8.59 Billion | ▲ +3.6 pp |
| 2014 | 81.4% | Dkr2.38 Billion | Dkr443.00 Million | Dkr7.00 Billion | ▲ +15.9 pp |
| 2013 | 65.5% | Dkr1.52 Billion | Dkr526.00 Million | Dkr5.64 Billion | ▲ +14.8 pp |
| 2012 | 50.7% | Dkr1.62 Billion | Dkr800.00 Million | Dkr6.97 Billion | ▼ -13.5 pp |
| 2011 | 64.2% | Dkr2.58 Billion | Dkr923.00 Million | Dkr7.69 Billion | ▼ -9.9 pp |
| 2010 | 74.1% | Dkr2.75 Billion | Dkr714.00 Million | Dkr7.07 Billion | ▼ -11.3 pp |
| 2009 | 85.4% | Dkr3.36 Billion | Dkr492.00 Million | Dkr6.43 Billion | ▲ +1.9 pp |
| 2008 | 83.4% | Dkr1.96 Billion | Dkr324.00 Million | Dkr5.31 Billion | ▼ -4.2 pp |
| 2007 | 87.7% | Dkr1.52 Billion | Dkr187.00 Million | Dkr4.30 Billion | ▲ +0.2 pp |
| 2006 | 87.5% | Dkr1.26 Billion | Dkr158.00 Million | Dkr3.65 Billion | ▲ +3.7 pp |
| 2005 | 83.8% | Dkr961.80 Million | Dkr155.80 Million | Dkr3.09 Billion | ▼ -4.9 pp |
| 2004 | 88.7% | Dkr1.25 Billion | Dkr140.90 Million | Dkr2.92 Billion | ▼ -5.5 pp |
| 2003 | 94.3% | Dkr596.10 Million | Dkr34.20 Million | Dkr1.27 Billion | ▲ +2.2 pp |
| 2002 | 92.1% | Dkr613.30 Million | Dkr48.40 Million | Dkr1.39 Billion | ▼ -7.5 pp |
| 2001 | 99.6% | Dkr527.60 Million | Dkr2.30 Million | Dkr945.00 Million | ▲ +1.1 pp |
| 2000 | 98.4% | Dkr1.60 Billion | Dkr25.08 Million | Dkr4.39 Billion | — |