GlaxoSmithKline PLC ADR (GSK) — Tangible Net Worth Ratio
GlaxoSmithKline PLC ADR (GSK) has a Tangible Net Worth Ratio of -4.1% as of March 2026. This metric is calculated by deducting intangible assets ($23.92 Billion) from net assets ($22.97 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 GSK working capital efficiency to evaluate short-term liquidity relative to the company's equity base.
Tangible NW Ratio
Net Assets (Equity)
Intangible Assets
Total Assets
GlaxoSmithKline PLC ADR Tangible Net Worth Ratio (1985–2025)
This chart shows how GlaxoSmithKline PLC ADR's Tangible Net Worth Ratio has changed across 41 annual periods from 1985 to 2025. As of March 2026, the ratio stands at -4.1%, reflecting net assets of $22.97 Billion with intangible assets of $23.92 Billion USD. See GSK cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Tangible Net Worth Ratio for GlaxoSmithKline PLC ADR (1985–2025)
The table below presents the year-by-year Tangible Net Worth Ratio for GlaxoSmithKline PLC ADR from 1985 to 2025, covering 41 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 GSK market cap.
| Year | Tangible NW Ratio | Net Assets (USD) | Intangible Assets | Total Assets | Change (pp) |
|---|---|---|---|---|---|
| 2025 | -4.5% | $15.99 Billion | $16.72 Billion | $61.01 Billion | ▲ +14.0 pp |
| 2024 | -18.6% | $13.09 Billion | $15.52 Billion | $59.46 Billion | ▼ -3.1 pp |
| 2023 | -15.4% | $16.31 Billion | $18.83 Billion | $75.22 Billion | ▲ +26.4 pp |
| 2022 | -41.8% | $10.10 Billion | $14.32 Billion | $60.15 Billion | ▼ -0.9 pp |
| 2021 | -40.9% | $28.91 Billion | $40.74 Billion | $107.14 Billion | ▲ +2.4 pp |
| 2020 | -43.3% | $28.44 Billion | $40.77 Billion | $109.95 Billion | ▲ +25.3 pp |
| 2019 | -68.6% | $24.32 Billion | $41.01 Billion | $105.57 Billion | ▲ +299.8 pp |
| 2018 | -368.5% | $3.67 Billion | $17.20 Billion | $58.07 Billion | ▲ +34.9 pp |
| 2017 | -403.4% | $3.49 Billion | $17.56 Billion | $56.38 Billion | ▼ -125.0 pp |
| 2016 | -278.3% | $4.96 Billion | $18.78 Billion | $59.08 Billion | ▼ -190.5 pp |
| 2015 | -87.8% | $8.88 Billion | $16.67 Billion | $53.45 Billion | ▼ -19.2 pp |
| 2014 | -68.6% | $4.94 Billion | $8.32 Billion | $40.65 Billion | ▼ -49.7 pp |
| 2013 | -18.8% | $7.81 Billion | $9.28 Billion | $42.09 Billion | ▲ +31.8 pp |
| 2012 | -50.6% | $6.75 Billion | $10.16 Billion | $41.48 Billion | ▼ -62.2 pp |
| 2011 | 11.6% | $8.83 Billion | $7.80 Billion | $41.08 Billion | ▼ -1.5 pp |
| 2010 | 13.1% | $9.74 Billion | $8.47 Billion | $42.05 Billion | ▼ -10.7 pp |
| 2009 | 23.8% | $10.74 Billion | $8.18 Billion | $42.86 Billion | ▼ -5.6 pp |
| 2008 | 29.4% | $8.32 Billion | $5.87 Billion | $39.39 Billion | ▼ -25.6 pp |
| 2007 | 55.0% | $9.91 Billion | $4.46 Billion | $31.00 Billion | ▼ -10.8 pp |
| 2006 | 65.9% | $9.65 Billion | $3.29 Billion | $25.55 Billion | ▲ +10.6 pp |
| 2005 | 55.3% | $7.57 Billion | $3.38 Billion | $27.20 Billion | ▲ +2.8 pp |
| 2004 | 52.6% | $5.94 Billion | $2.82 Billion | $22.94 Billion | ▼ -27.4 pp |
| 2003 | 80.0% | $8.45 Billion | $1.69 Billion | $23.94 Billion | ▲ +4.4 pp |
| 2002 | 75.5% | $7.39 Billion | $1.81 Billion | $22.33 Billion | ▼ -2.4 pp |
| 2001 | 78.0% | $8.40 Billion | $1.85 Billion | $21.97 Billion | ▼ -9.4 pp |
| 2000 | 87.3% | $8.96 Billion | $1.14 Billion | $21.59 Billion | ▼ -8.2 pp |
| 1999 | 95.5% | $3.19 Billion | $144.00 Million | $10.43 Billion | ▼ -0.7 pp |
| 1998 | 96.2% | $2.77 Billion | $106.00 Million | $9.35 Billion | ▲ +112.9 pp |
| 1997 | -16.7% | $1.89 Billion | $2.21 Billion | $8.44 Billion | ▲ +58.7 pp |
| 1996 | -75.5% | $1.27 Billion | $2.22 Billion | $8.31 Billion | ▲ +699.7 pp |
| 1995 | -775.1% | $221.00 Million | $1.93 Billion | $8.54 Billion | ▼ -875.1 pp |
| 1994 | 100.0% | $574.69 Million | $0.00 | $8.10 Billion | ▲ +23.1 pp |
| 1993 | 76.9% | $5.15 Billion | $1.19 Billion | $7.89 Billion | ▲ +2.6 pp |
| 1992 | 74.3% | $4.66 Billion | $1.20 Billion | $7.46 Billion | ▲ +1.4 pp |
| 1991 | 72.9% | $3.64 Billion | $986.00 Million | $5.68 Billion | ▲ +0.4 pp |
| 1990 | 72.5% | $3.28 Billion | $901.00 Million | $5.74 Billion | ▼ -27.5 pp |
| 1989 | 100.0% | $2.81 Billion | $0.00 | $4.49 Billion | ▲ +0.0 pp |
| 1988 | 100.0% | $2.31 Billion | $0.00 | $3.47 Billion | ▲ +0.0 pp |
| 1987 | 100.0% | $1.80 Billion | $0.00 | $2.87 Billion | ▲ +0.0 pp |
| 1986 | 100.0% | $1.46 Billion | $0.00 | $2.36 Billion | ▲ +0.0 pp |
| 1985 | 100.0% | $1.10 Billion | $0.00 | $1.80 Billion | — |