Harvey Norman Holdings Ltd (HVN) — Working Capital to Net Assets Ratio
Harvey Norman Holdings Ltd (HVN) has a Working Capital to Net Assets ratio of 16.4% as of December 2025. Working capital of AU$813.98 Million (current assets of AU$2.08 Billion minus current liabilities of AU$1.26 Billion) is measured against net assets of AU$4.95 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Harvey Norman Holdings Ltd (HVN) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Harvey Norman Holdings Ltd Working Capital to Net Assets (1989–2025)
This chart shows how Harvey Norman Holdings 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 16.4%, reflecting working capital of AU$813.98 Million against net assets of AU$4.95 Billion AUD. See defensive interval ratio of Harvey Norman Holdings Ltd to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Harvey Norman Holdings Ltd (1989–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Harvey Norman Holdings 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 Harvey Norman Holdings Ltd (HVN) total market value.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 10.7% | AU$516.21 Million | AU$4.84 Billion | AU$1.89 Billion | AU$1.37 Billion | ▼ -12.3 pp |
| 2024 | 22.9% | AU$1.04 Billion | AU$4.54 Billion | AU$1.84 Billion | AU$796.24 Million | ▼ -1.5 pp |
| 2023 | 24.4% | AU$1.09 Billion | AU$4.47 Billion | AU$1.83 Billion | AU$738.66 Million | ▲ +3.1 pp |
| 2022 | 21.3% | AU$916.66 Million | AU$4.29 Billion | AU$1.91 Billion | AU$989.81 Million | ▲ +6.4 pp |
| 2021 | 14.9% | AU$581.51 Million | AU$3.89 Billion | AU$1.73 Billion | AU$1.15 Billion | ▲ +0.2 pp |
| 2020 | 14.7% | AU$512.89 Million | AU$3.48 Billion | AU$1.30 Billion | AU$785.44 Million | ▼ -2.7 pp |
| 2019 | 17.4% | AU$557.23 Million | AU$3.20 Billion | AU$1.46 Billion | AU$899.11 Million | ▲ +0.8 pp |
| 2018 | 16.6% | AU$487.65 Million | AU$2.94 Billion | AU$1.32 Billion | AU$829.96 Million | ▲ +3.5 pp |
| 2017 | 13.1% | AU$369.01 Million | AU$2.81 Billion | AU$1.11 Billion | AU$743.42 Million | ▲ +1.0 pp |
| 2016 | 12.1% | AU$326.54 Million | AU$2.69 Billion | AU$1.61 Billion | AU$1.28 Billion | ▼ -3.2 pp |
| 2015 | 15.4% | AU$393.39 Million | AU$2.56 Billion | AU$1.64 Billion | AU$1.25 Billion | ▲ +3.8 pp |
| 2014 | 11.6% | AU$287.83 Million | AU$2.49 Billion | AU$1.55 Billion | AU$1.26 Billion | ▼ -18.0 pp |
| 2013 | 29.5% | AU$697.86 Million | AU$2.36 Billion | AU$1.53 Billion | AU$834.06 Million | ▲ +3.9 pp |
| 2012 | 25.6% | AU$581.17 Million | AU$2.27 Billion | AU$1.50 Billion | AU$917.77 Million | ▼ -2.8 pp |
| 2011 | 28.4% | AU$632.97 Million | AU$2.23 Billion | AU$1.63 Billion | AU$994.38 Million | ▲ +0.8 pp |
| 2010 | 27.6% | AU$595.28 Million | AU$2.16 Billion | AU$1.56 Billion | AU$961.35 Million | ▲ +20.0 pp |
| 2009 | 7.6% | AU$156.17 Million | AU$2.06 Billion | AU$1.54 Billion | AU$1.38 Billion | ▼ -5.9 pp |
| 2008 | 13.5% | AU$262.13 Million | AU$1.95 Billion | AU$1.34 Billion | AU$1.08 Billion | ▼ -20.9 pp |
| 2007 | 34.4% | AU$598.78 Million | AU$1.74 Billion | AU$1.45 Billion | AU$848.34 Million | ▼ -14.0 pp |
| 2006 | 48.4% | AU$698.37 Million | AU$1.44 Billion | AU$1.41 Billion | AU$713.38 Million | ▲ +4.1 pp |
| 2005 | 44.3% | AU$599.07 Million | AU$1.35 Billion | AU$1.29 Billion | AU$692.77 Million | ▲ +7.6 pp |
| 2004 | 36.7% | AU$450.83 Million | AU$1.23 Billion | AU$1.11 Billion | AU$656.70 Million | ▼ -0.8 pp |
| 2003 | 37.5% | AU$387.30 Million | AU$1.03 Billion | AU$882.86 Million | AU$495.56 Million | ▲ +5.3 pp |
| 2002 | 32.2% | AU$281.88 Million | AU$875.89 Million | AU$776.78 Million | AU$494.90 Million | ▲ +4.9 pp |
| 2001 | 27.3% | AU$178.39 Million | AU$653.81 Million | AU$664.54 Million | AU$486.15 Million | ▼ -6.2 pp |
| 2000 | 33.5% | AU$184.19 Million | AU$550.33 Million | AU$588.01 Million | AU$403.83 Million | ▲ +4.2 pp |
| 1999 | 29.3% | AU$118.52 Million | AU$404.83 Million | AU$395.84 Million | AU$277.32 Million | ▲ +13.2 pp |
| 1998 | 16.1% | AU$53.76 Million | AU$334.86 Million | AU$287.05 Million | AU$233.30 Million | ▼ -15.4 pp |
| 1997 | 31.4% | AU$80.97 Million | AU$257.49 Million | AU$241.63 Million | AU$160.66 Million | ▼ -2.7 pp |
| 1996 | 34.1% | AU$73.88 Million | AU$216.50 Million | AU$228.88 Million | AU$155.00 Million | ▼ -39.9 pp |
| 1995 | 74.0% | AU$118.25 Million | AU$159.81 Million | AU$242.82 Million | AU$124.57 Million | ▲ +28.5 pp |
| 1994 | 45.4% | AU$46.26 Million | AU$101.79 Million | AU$153.18 Million | AU$106.92 Million | ▼ -19.1 pp |
| 1993 | 64.6% | AU$45.56 Million | AU$70.56 Million | AU$108.99 Million | AU$63.44 Million | ▲ +7.0 pp |
| 1992 | 57.6% | AU$35.16 Million | AU$61.06 Million | AU$76.17 Million | AU$41.01 Million | ▲ +14.5 pp |
| 1991 | 43.1% | AU$22.65 Million | AU$52.57 Million | AU$56.77 Million | AU$34.12 Million | ▲ +51.1 pp |
| 1990 | -8.0% | AU$-3.71 Million | AU$46.20 Million | AU$47.37 Million | AU$51.07 Million | ▼ -6.1 pp |
| 1989 | -2.0% | AU$-770.00K | AU$39.04 Million | AU$39.09 Million | AU$39.86 Million | — |