Qantas Airways Ltd Working Capital to Net Assets Ratio
Qantas Airways Ltd working capital to net assets ratio. Qantas Airways Ltd (QAN) has a Working Capital to Net Assets ratio of -622.5% as of December 2025. Working capital of AU$-8.40 Billion (current assets of AU$3.95 Billion minus current liabilities of AU$12.35 Billion) is measured against net assets of AU$1.35 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. Check Qantas Airways Ltd tangible net worth ratio to evaluate the tangible quality of the company's equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of Qantas Airways Ltd (1994–2025)
Working capital to net assets ratio of Qantas Airways Ltd from 1994 to 2025. This chart shows how Qantas Airways Ltd's Working Capital to Net Assets ratio has evolved across 32 annual periods from 1994 to 2025. As of December 2025, the ratio stands at -622.5%, reflecting working capital of AU$-8.40 Billion against net assets of AU$1.35 Billion AUD. See QAN days of operational coverage to measure how many days the company can operate on defensive assets alone.
Qantas Airways Ltd Working Capital to Net Assets Ratio by Year (1994–2025)
Qantas Airways Ltd working capital to net assets ratio by year from 1994 to 2025. The table below presents the year-by-year Working Capital to Net Assets ratio for Qantas Airways Ltd from 1994 to 2025, covering 32 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For the complete balance sheet picture, see how large is Qantas Airways Ltd's balance sheet.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -1047.4% | AU$-8.20 Billion | AU$783.00 Million | AU$4.51 Billion | AU$12.72 Billion | ▲ +1593.8 pp |
| 2024 | -2641.2% | AU$-7.76 Billion | AU$294.00 Million | AU$3.98 Billion | AU$11.74 Billion | ▲ +67278.8 pp |
| 2023 | -69920.0% | AU$-6.99 Billion | AU$10.00 Million | AU$5.11 Billion | AU$12.10 Billion | ▼ -72512.1 pp |
| 2022 | 2592.1% | AU$-4.92 Billion | AU$-190.00 Million | AU$5.63 Billion | AU$10.56 Billion | ▲ +3532.3 pp |
| 2021 | -940.2% | AU$-4.17 Billion | AU$443.00 Million | AU$3.43 Billion | AU$7.59 Billion | ▼ -720.5 pp |
| 2020 | -219.7% | AU$-3.35 Billion | AU$1.53 Billion | AU$4.95 Billion | AU$8.30 Billion | ▼ -59.4 pp |
| 2019 | -160.3% | AU$-4.83 Billion | AU$3.01 Billion | AU$4.19 Billion | AU$9.02 Billion | ▼ -60.1 pp |
| 2018 | -100.2% | AU$-3.96 Billion | AU$3.96 Billion | AU$3.64 Billion | AU$7.60 Billion | ▲ +12.1 pp |
| 2017 | -112.3% | AU$-3.98 Billion | AU$3.54 Billion | AU$3.12 Billion | AU$7.09 Billion | ▼ -2.8 pp |
| 2016 | -109.5% | AU$-3.57 Billion | AU$3.26 Billion | AU$3.46 Billion | AU$7.03 Billion | ▼ -39.3 pp |
| 2015 | -70.2% | AU$-2.42 Billion | AU$3.45 Billion | AU$5.05 Billion | AU$7.47 Billion | ▲ +20.2 pp |
| 2014 | -90.5% | AU$-2.59 Billion | AU$2.87 Billion | AU$4.93 Billion | AU$7.53 Billion | ▼ -61.6 pp |
| 2013 | -28.9% | AU$-1.69 Billion | AU$5.84 Billion | AU$4.96 Billion | AU$6.65 Billion | ▼ -0.7 pp |
| 2012 | -28.2% | AU$-1.66 Billion | AU$5.89 Billion | AU$5.46 Billion | AU$7.12 Billion | ▼ -18.5 pp |
| 2011 | -9.7% | AU$-594.00 Million | AU$6.15 Billion | AU$5.64 Billion | AU$6.24 Billion | ▼ -2.8 pp |
| 2010 | -6.8% | AU$-409.00 Million | AU$5.98 Billion | AU$5.83 Billion | AU$6.24 Billion | ▲ +6.1 pp |
| 2009 | -13.0% | AU$-748.00 Million | AU$5.76 Billion | AU$5.97 Billion | AU$6.71 Billion | ▲ +21.7 pp |
| 2008 | -34.7% | AU$-1.99 Billion | AU$5.73 Billion | AU$5.62 Billion | AU$7.60 Billion | ▼ -20.6 pp |
| 2007 | -14.0% | AU$-870.00 Million | AU$6.20 Billion | AU$5.63 Billion | AU$6.50 Billion | ▼ -7.8 pp |
| 2006 | -6.2% | AU$-376.90 Million | AU$6.08 Billion | AU$5.05 Billion | AU$5.43 Billion | ▲ +8.2 pp |
| 2005 | -14.4% | AU$-925.10 Million | AU$6.43 Billion | AU$3.71 Billion | AU$4.63 Billion | ▲ +17.6 pp |
| 2004 | -32.0% | AU$-1.87 Billion | AU$5.84 Billion | AU$3.32 Billion | AU$5.19 Billion | ▼ -16.5 pp |
| 2003 | -15.4% | AU$-812.60 Million | AU$5.26 Billion | AU$3.95 Billion | AU$4.77 Billion | ▲ +27.5 pp |
| 2002 | -42.9% | AU$-1.83 Billion | AU$4.25 Billion | AU$3.76 Billion | AU$5.58 Billion | ▲ +37.1 pp |
| 2001 | -80.1% | AU$-2.65 Billion | AU$3.32 Billion | AU$2.36 Billion | AU$5.01 Billion | ▲ +7.8 pp |
| 2000 | -87.9% | AU$-2.52 Billion | AU$2.86 Billion | AU$2.44 Billion | AU$4.95 Billion | ▼ -32.5 pp |
| 1999 | -55.4% | AU$-1.70 Billion | AU$3.06 Billion | AU$2.38 Billion | AU$4.08 Billion | ▼ -18.3 pp |
| 1998 | -37.1% | AU$-1.10 Billion | AU$2.96 Billion | AU$2.11 Billion | AU$3.21 Billion | ▲ +2.2 pp |
| 1997 | -39.3% | AU$-1.05 Billion | AU$2.67 Billion | AU$2.07 Billion | AU$3.12 Billion | ▼ -10.0 pp |
| 1996 | -29.3% | AU$-714.50 Million | AU$2.44 Billion | AU$1.65 Billion | AU$2.37 Billion | ▼ -5.1 pp |
| 1995 | -24.2% | AU$-552.10 Million | AU$2.28 Billion | AU$1.61 Billion | AU$2.16 Billion | ▲ +2.8 pp |
| 1994 | -27.1% | AU$-586.20 Million | AU$2.17 Billion | AU$1.41 Billion | AU$2.00 Billion | — |