Telstra Group Ltd (TLS) — Working Capital to Net Assets Ratio
Telstra Group Ltd (TLS) has a Working Capital to Net Assets ratio of -29.5% as of December 2025. Working capital of AU$-4.65 Billion (current assets of AU$6.30 Billion minus current liabilities of AU$10.95 Billion) is measured against net assets of AU$15.74 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Telstra Group Ltd (TLS) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Telstra Group Ltd Working Capital to Net Assets (1993–2025)
This chart shows how Telstra Group Ltd's Working Capital to Net Assets ratio has evolved across 33 annual periods from 1993 to 2025. As of December 2025, the ratio stands at -29.5%, reflecting working capital of AU$-4.65 Billion against net assets of AU$15.74 Billion AUD. See Telstra Group Ltd defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Telstra Group Ltd (1993–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Telstra Group Ltd from 1993 to 2025, covering 33 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For live market cap and the full company profile, see Telstra Group Ltd stock valuation.
| Year | WC/NA Ratio | Working Capital (AUD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -30.8% | AU$-5.03 Billion | AU$16.32 Billion | AU$6.50 Billion | AU$11.52 Billion | ▲ +0.4 pp |
| 2024 | -31.2% | AU$-5.42 Billion | AU$17.35 Billion | AU$6.11 Billion | AU$11.53 Billion | ▼ -11.7 pp |
| 2023 | -19.5% | AU$-3.47 Billion | AU$17.82 Billion | AU$6.62 Billion | AU$10.09 Billion | ▲ +1.4 pp |
| 2022 | -20.9% | AU$-3.55 Billion | AU$16.98 Billion | AU$6.14 Billion | AU$9.70 Billion | ▲ +1.5 pp |
| 2021 | -22.4% | AU$-3.42 Billion | AU$15.28 Billion | AU$7.00 Billion | AU$10.42 Billion | ▲ +1.6 pp |
| 2020 | -24.0% | AU$-3.64 Billion | AU$15.15 Billion | AU$6.45 Billion | AU$10.09 Billion | ▼ -8.6 pp |
| 2019 | -15.5% | AU$-2.25 Billion | AU$14.53 Billion | AU$7.30 Billion | AU$9.55 Billion | ▼ -5.3 pp |
| 2018 | -10.2% | AU$-1.50 Billion | AU$14.62 Billion | AU$7.29 Billion | AU$8.79 Billion | ▼ -1.3 pp |
| 2017 | -8.9% | AU$-1.30 Billion | AU$14.56 Billion | AU$7.86 Billion | AU$9.16 Billion | ▼ -9.9 pp |
| 2016 | 1.0% | AU$152.00 Million | AU$15.91 Billion | AU$9.34 Billion | AU$9.19 Billion | ▲ +8.9 pp |
| 2015 | -8.0% | AU$-1.16 Billion | AU$14.51 Billion | AU$6.97 Billion | AU$8.13 Billion | ▼ -20.6 pp |
| 2014 | 12.6% | AU$1.75 Billion | AU$13.96 Billion | AU$10.44 Billion | AU$8.68 Billion | ▲ +9.6 pp |
| 2013 | 3.0% | AU$381.00 Million | AU$12.88 Billion | AU$7.90 Billion | AU$7.52 Billion | ▲ +9.2 pp |
| 2012 | -6.3% | AU$-734.00 Million | AU$11.69 Billion | AU$9.95 Billion | AU$10.68 Billion | ▲ +2.5 pp |
| 2011 | -8.8% | AU$-1.08 Billion | AU$12.29 Billion | AU$7.45 Billion | AU$8.54 Billion | ▲ +2.7 pp |
| 2010 | -11.5% | AU$-1.50 Billion | AU$13.01 Billion | AU$7.18 Billion | AU$8.68 Billion | ▲ +0.8 pp |
| 2009 | -12.3% | AU$-1.56 Billion | AU$12.68 Billion | AU$6.19 Billion | AU$7.75 Billion | ▲ +9.0 pp |
| 2008 | -21.3% | AU$-2.61 Billion | AU$12.24 Billion | AU$5.51 Billion | AU$8.12 Billion | ▲ +11.1 pp |
| 2007 | -32.4% | AU$-4.08 Billion | AU$12.58 Billion | AU$5.35 Billion | AU$9.43 Billion | ▼ -9.0 pp |
| 2006 | -23.4% | AU$-3.01 Billion | AU$12.83 Billion | AU$4.88 Billion | AU$7.89 Billion | ▼ -22.1 pp |
| 2005 | -1.4% | AU$-205.00 Million | AU$14.88 Billion | AU$6.18 Billion | AU$6.38 Billion | ▲ +13.3 pp |
| 2004 | -14.6% | AU$-2.25 Billion | AU$15.36 Billion | AU$5.33 Billion | AU$7.58 Billion | ▼ -14.1 pp |
| 2003 | -0.5% | AU$-77.00 Million | AU$15.42 Billion | AU$5.76 Billion | AU$5.83 Billion | ▲ +12.6 pp |
| 2002 | -13.1% | AU$-1.85 Billion | AU$14.11 Billion | AU$6.38 Billion | AU$8.23 Billion | ▲ +8.9 pp |
| 2001 | -22.1% | AU$-3.03 Billion | AU$13.72 Billion | AU$6.25 Billion | AU$9.28 Billion | ▲ +17.0 pp |
| 2000 | -39.1% | AU$-4.53 Billion | AU$11.60 Billion | AU$4.89 Billion | AU$9.42 Billion | ▲ +15.3 pp |
| 1999 | -54.4% | AU$-5.60 Billion | AU$10.29 Billion | AU$4.55 Billion | AU$10.15 Billion | ▼ -18.0 pp |
| 1998 | -36.4% | AU$-4.04 Billion | AU$11.08 Billion | AU$4.51 Billion | AU$8.55 Billion | ▼ -14.7 pp |
| 1997 | -21.7% | AU$-2.15 Billion | AU$9.94 Billion | AU$5.11 Billion | AU$7.26 Billion | ▼ -15.9 pp |
| 1996 | -5.8% | AU$-729.30 Million | AU$12.67 Billion | AU$5.07 Billion | AU$5.80 Billion | ▲ +1.8 pp |
| 1995 | -7.6% | AU$-889.70 Million | AU$11.73 Billion | AU$6.00 Billion | AU$6.89 Billion | ▼ -4.9 pp |
| 1994 | -2.7% | AU$-287.00 Million | AU$10.76 Billion | AU$4.07 Billion | AU$4.36 Billion | ▲ +3.4 pp |
| 1993 | -6.1% | AU$377.00 Million | AU$-6.19 Billion | AU$4.40 Billion | AU$4.03 Billion | — |