The a2 Milk Company Ltd Working Capital to Net Assets Ratio
The a2 Milk Company Ltd working capital to net assets ratio. The a2 Milk Company Ltd (A2M) has a Working Capital to Net Assets ratio of 47.6% as of June 2026. Working capital of AU$510.17 Million (current assets of AU$1.35 Billion minus current liabilities of AU$839.17 Million) is measured against net assets of AU$1.07 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. Check tangible net worth ratio of The a2 Milk Company Ltd to evaluate the tangible quality of the company's equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of The a2 Milk Company Ltd (2004–2026)
Working capital to net assets ratio of The a2 Milk Company Ltd from 2004 to 2026. This chart shows how The a2 Milk Company Ltd's Working Capital to Net Assets ratio has evolved across 21 annual periods from 2004 to 2026. As of June 2026, the ratio stands at 47.6%, reflecting working capital of AU$510.17 Million against net assets of AU$1.07 Billion AUD. See A2M defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
The a2 Milk Company Ltd Working Capital to Net Assets Ratio by Year (2004–2026)
The a2 Milk Company Ltd working capital to net assets ratio by year from 2004 to 2026. The table below presents the year-by-year Working Capital to Net Assets ratio for The a2 Milk Company Ltd from 2004 to 2026, covering 21 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For the complete balance sheet picture, see A2M current and non-current assets.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | 47.6% | AU$510.17 Million | AU$1.07 Billion | AU$1.35 Billion | AU$839.17 Million | ▼ -22.4 pp |
| 2025 | 70.0% | AU$1.00 Billion | AU$1.43 Billion | AU$1.45 Billion | AU$450.08 Million | ▲ +0.6 pp |
| 2024 | 69.3% | AU$871.17 Million | AU$1.26 Billion | AU$1.29 Billion | AU$416.77 Million | ▲ +4.7 pp |
| 2023 | 64.6% | AU$742.90 Million | AU$1.15 Billion | AU$1.12 Billion | AU$379.21 Million | ▲ +3.4 pp |
| 2022 | 61.2% | AU$731.07 Million | AU$1.19 Billion | AU$1.17 Billion | AU$440.17 Million | ▼ -14.6 pp |
| 2021 | 75.9% | AU$822.20 Million | AU$1.08 Billion | AU$1.10 Billion | AU$274.69 Million | ▲ +3.3 pp |
| 2020 | 72.6% | AU$823.12 Million | AU$1.13 Billion | AU$1.13 Billion | AU$305.43 Million | ▲ +12.9 pp |
| 2019 | 59.7% | AU$470.31 Million | AU$787.85 Million | AU$689.20 Million | AU$218.89 Million | ▼ -1.4 pp |
| 2018 | 61.1% | AU$339.31 Million | AU$555.71 Million | AU$499.70 Million | AU$160.39 Million | ▼ -3.5 pp |
| 2017 | 64.5% | AU$155.94 Million | AU$241.58 Million | AU$258.29 Million | AU$102.35 Million | ▼ -14.8 pp |
| 2016 | 79.4% | AU$105.61 Million | AU$133.08 Million | AU$182.42 Million | AU$76.81 Million | ▲ +25.5 pp |
| 2015 | 53.9% | AU$31.58 Million | AU$58.63 Million | AU$60.53 Million | AU$28.95 Million | ▼ -2.9 pp |
| 2014 | 56.7% | AU$33.26 Million | AU$58.64 Million | AU$51.14 Million | AU$17.88 Million | ▼ -2.2 pp |
| 2013 | 58.9% | AU$35.31 Million | AU$59.93 Million | AU$47.70 Million | AU$12.39 Million | ▲ +25.1 pp |
| 2012 | 33.8% | AU$12.63 Million | AU$37.35 Million | AU$24.91 Million | AU$12.29 Million | ▼ -16.0 pp |
| 2011 | 49.8% | AU$12.54 Million | AU$25.18 Million | AU$20.03 Million | AU$7.49 Million | ▼ -12.4 pp |
| 2010 | 62.2% | AU$4.52 Million | AU$7.27 Million | AU$5.53 Million | AU$1.01 Million | ▼ -43.8 pp |
| 2008 | 106.0% | AU$-8.08 Million | AU$-7.62 Million | AU$347.49K | AU$8.43 Million | ▼ -51.8 pp |
| 2007 | 157.9% | AU$-2.17 Million | AU$-1.38 Million | AU$2.85 Million | AU$5.02 Million | ▲ +32.4 pp |
| 2005 | 125.5% | AU$-280.73K | AU$-223.76K | AU$178.35K | AU$459.07K | ▲ +149.3 pp |
| 2004 | -23.9% | AU$-1.30 Million | AU$5.43 Million | AU$129.16K | AU$1.43 Million | — |