Fortescue Ltd (FMG) — Working Capital to Net Assets Ratio
Fortescue Ltd (FMG) has a Working Capital to Net Assets ratio of 23.6% as of December 2025. Working capital of AU$4.89 Billion (current assets of AU$7.30 Billion minus current liabilities of AU$2.41 Billion) is measured against net assets of AU$20.72 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Fortescue Ltd balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Fortescue Ltd Working Capital to Net Assets (1989–2025)
This chart shows how Fortescue Ltd's Working Capital to Net Assets ratio has evolved across 37 annual periods from 1989 to 2025. As of December 2025, the ratio stands at 23.6%, reflecting working capital of AU$4.89 Billion against net assets of AU$20.72 Billion AUD. Check Fortescue Ltd (FMG) tangible net worth to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Fortescue Ltd (1989–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Fortescue Ltd from 1989 to 2025, covering 37 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 live market cap and the full company profile, see Fortescue Ltd (FMG) total market value.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 19.5% | AU$3.89 Billion | AU$19.96 Billion | AU$6.62 Billion | AU$2.73 Billion | ▼ -3.4 pp |
| 2024 | 22.9% | AU$4.48 Billion | AU$19.53 Billion | AU$7.17 Billion | AU$2.69 Billion | ▲ +2.8 pp |
| 2023 | 20.1% | AU$3.61 Billion | AU$17.96 Billion | AU$6.07 Billion | AU$2.46 Billion | ▼ -5.7 pp |
| 2022 | 25.8% | AU$4.48 Billion | AU$17.34 Billion | AU$6.90 Billion | AU$2.42 Billion | ▼ -2.8 pp |
| 2021 | 28.6% | AU$5.08 Billion | AU$17.74 Billion | AU$8.96 Billion | AU$3.88 Billion | ▲ +2.2 pp |
| 2020 | 26.4% | AU$3.52 Billion | AU$13.33 Billion | AU$6.34 Billion | AU$2.81 Billion | ▲ +17.3 pp |
| 2019 | 9.1% | AU$962.27 Million | AU$10.56 Billion | AU$3.60 Billion | AU$2.64 Billion | ▲ +4.9 pp |
| 2018 | 4.2% | AU$409.46 Million | AU$9.70 Billion | AU$1.64 Billion | AU$1.23 Billion | ▲ +0.1 pp |
| 2017 | 4.1% | AU$402.18 Million | AU$9.71 Billion | AU$2.60 Billion | AU$2.20 Billion | ▼ -5.2 pp |
| 2016 | 9.4% | AU$790.57 Million | AU$8.42 Billion | AU$2.43 Billion | AU$1.64 Billion | ▼ -15.0 pp |
| 2015 | 24.4% | AU$1.40 Billion | AU$5.73 Billion | AU$2.68 Billion | AU$1.28 Billion | ▲ +8.5 pp |
| 2014 | 15.9% | AU$1.13 Billion | AU$7.12 Billion | AU$4.21 Billion | AU$3.07 Billion | ▼ -26.6 pp |
| 2013 | 42.5% | AU$2.08 Billion | AU$4.89 Billion | AU$3.38 Billion | AU$1.31 Billion | ▲ +2.3 pp |
| 2012 | 40.2% | AU$1.53 Billion | AU$3.81 Billion | AU$3.69 Billion | AU$2.16 Billion | ▼ -57.4 pp |
| 2011 | 97.6% | AU$2.54 Billion | AU$2.60 Billion | AU$3.74 Billion | AU$1.20 Billion | ▲ +42.6 pp |
| 2010 | 55.0% | AU$684.66 Million | AU$1.24 Billion | AU$1.43 Billion | AU$749.36 Million | ▲ +29.8 pp |
| 2009 | 25.3% | AU$171.79 Million | AU$680.08 Million | AU$768.09 Million | AU$596.29 Million | ▲ +15.7 pp |
| 2008 | 9.5% | AU$-143.38 Million | AU$-1.51 Billion | AU$371.46 Million | AU$514.84 Million | ▼ -314.5 pp |
| 2007 | 324.1% | AU$1.16 Billion | AU$356.91 Million | AU$1.40 Billion | AU$238.69 Million | ▲ +321.7 pp |
| 2006 | 2.4% | AU$1.77 Million | AU$75.09 Million | AU$10.90 Million | AU$9.13 Million | ▼ -80.0 pp |
| 2005 | 82.3% | AU$42.11 Million | AU$51.15 Million | AU$47.62 Million | AU$5.51 Million | ▲ +61.2 pp |
| 2004 | 21.1% | AU$1.46 Million | AU$6.92 Million | AU$2.92 Million | AU$1.46 Million | ▼ -29.4 pp |
| 2003 | 50.5% | AU$729.74K | AU$1.45 Million | AU$815.76K | AU$86.02K | ▼ -14.6 pp |
| 2002 | 65.1% | AU$542.95K | AU$834.30K | AU$616.65K | AU$73.70K | ▲ +2.1 pp |
| 2001 | 63.0% | AU$399.37K | AU$634.08K | AU$576.04K | AU$176.67K | ▲ +37.7 pp |
| 2000 | 25.3% | AU$153.15K | AU$606.47K | AU$434.09K | AU$280.95K | ▲ +13.9 pp |
| 1999 | 11.4% | AU$59.12K | AU$520.42K | AU$315.95K | AU$256.83K | ▼ -25.2 pp |
| 1998 | 36.5% | AU$229.87K | AU$629.45K | AU$608.50K | AU$378.63K | ▼ -14.8 pp |
| 1997 | 51.3% | AU$515.12K | AU$1.00 Million | AU$1.71 Million | AU$1.20 Million | ▼ -31.4 pp |
| 1996 | 82.7% | AU$137.02K | AU$165.72K | AU$583.84K | AU$446.81K | ▼ -5.9 pp |
| 1995 | 88.6% | AU$583.64K | AU$659.06K | AU$600.85K | AU$17.21K | ▼ -11.4 pp |
| 1994 | 100.0% | AU$815.04K | AU$815.04K | AU$887.39K | AU$72.35K | ▲ +108.5 pp |
| 1993 | -8.5% | AU$58.69K | AU$-688.53K | AU$72.57K | AU$13.89K | ▼ -5.1 pp |
| 1992 | -3.5% | AU$31.73K | AU$-918.37K | AU$51.76K | AU$20.04K | ▲ +1.7 pp |
| 1991 | -5.1% | AU$38.22K | AU$-745.66K | AU$56.45K | AU$18.23K | ▼ -22.2 pp |
| 1990 | 17.0% | AU$19.41K | AU$113.95K | AU$163.41K | AU$144.00K | ▼ -59.8 pp |
| 1989 | 76.8% | AU$208.80K | AU$271.90K | AU$474.38K | AU$265.58K | — |