SOUTH32 Ltd (S32) — Working Capital to Net Assets Ratio
SOUTH32 Ltd (S32) has a Working Capital to Net Assets ratio of 24.1% as of December 2025. Working capital of AU$2.23 Billion (current assets of AU$3.53 Billion minus current liabilities of AU$1.30 Billion) is measured against net assets of AU$9.26 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See SOUTH32 Ltd (S32) net asset quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
SOUTH32 Ltd Working Capital to Net Assets (2012–2025)
This chart shows how SOUTH32 Ltd's Working Capital to Net Assets ratio has evolved across 14 annual periods from 2012 to 2025. As of December 2025, the ratio stands at 24.1%, reflecting working capital of AU$2.23 Billion against net assets of AU$9.26 Billion AUD. Check SOUTH32 Ltd (S32) tangible net worth to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for SOUTH32 Ltd (2012–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for SOUTH32 Ltd from 2012 to 2025, covering 14 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 S32 market cap.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 25.2% | AU$2.23 Billion | AU$8.86 Billion | AU$3.80 Billion | AU$1.57 Billion | ▼ -3.3 pp |
| 2024 | 28.5% | AU$2.56 Billion | AU$8.97 Billion | AU$4.40 Billion | AU$1.84 Billion | ▲ +10.6 pp |
| 2023 | 17.9% | AU$1.68 Billion | AU$9.38 Billion | AU$3.24 Billion | AU$1.56 Billion | ▼ -3.8 pp |
| 2022 | 21.7% | AU$2.34 Billion | AU$10.78 Billion | AU$4.24 Billion | AU$1.90 Billion | ▲ +5.4 pp |
| 2021 | 16.3% | AU$1.46 Billion | AU$8.95 Billion | AU$2.92 Billion | AU$1.46 Billion | ▲ +1.7 pp |
| 2020 | 14.6% | AU$1.39 Billion | AU$9.56 Billion | AU$2.66 Billion | AU$1.27 Billion | ▼ -2.3 pp |
| 2019 | 16.8% | AU$1.71 Billion | AU$10.17 Billion | AU$3.40 Billion | AU$1.69 Billion | ▼ -12.6 pp |
| 2018 | 29.5% | AU$3.16 Billion | AU$10.71 Billion | AU$4.82 Billion | AU$1.66 Billion | ▲ +4.2 pp |
| 2017 | 25.3% | AU$2.59 Billion | AU$10.23 Billion | AU$4.33 Billion | AU$1.74 Billion | ▲ +11.6 pp |
| 2016 | 13.7% | AU$1.29 Billion | AU$9.42 Billion | AU$2.67 Billion | AU$1.38 Billion | ▲ +3.2 pp |
| 2015 | 10.5% | AU$1.16 Billion | AU$11.04 Billion | AU$2.87 Billion | AU$1.70 Billion | ▼ -18.7 pp |
| 2014 | 29.2% | AU$2.87 Billion | AU$9.82 Billion | AU$5.00 Billion | AU$2.13 Billion | ▲ +4.8 pp |
| 2013 | 24.4% | AU$2.47 Billion | AU$10.12 Billion | AU$5.24 Billion | AU$2.76 Billion | ▼ -7.1 pp |
| 2012 | 31.5% | AU$4.35 Billion | AU$13.81 Billion | AU$7.54 Billion | AU$3.19 Billion | — |