San Miguel AG (SAMI) — Working Capital to Net Assets Ratio
San Miguel AG (SAMI) has a Working Capital to Net Assets ratio of -105.6% as of December 2025. Working capital of AR$-113.42 Billion (current assets of AR$245.89 Billion minus current liabilities of AR$359.31 Billion) is measured against net assets of AR$107.40 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See San Miguel AG defensive interval ratio to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
San Miguel AG Working Capital to Net Assets (2015–2025)
This chart shows how San Miguel AG's Working Capital to Net Assets ratio has evolved across 11 annual periods from 2015 to 2025. As of December 2025, the ratio stands at -105.6%, reflecting working capital of AR$-113.42 Billion against net assets of AR$107.40 Billion ARS. For the complete balance sheet picture, see how large is San Miguel AG's balance sheet.
Annual Working Capital to Net Assets for San Miguel AG (2015–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for San Miguel AG from 2015 to 2025, covering 11 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. Check asset resilience ratio of San Miguel AG to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (ARS) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -105.6% | AR$-113.42 Billion | AR$107.40 Billion | AR$245.89 Billion | AR$359.31 Billion | ▼ -123.0 pp |
| 2024 | 17.4% | AR$12.06 Billion | AR$69.35 Billion | AR$177.12 Billion | AR$165.06 Billion | ▼ -148.8 pp |
| 2023 | 166.2% | AR$28.09 Billion | AR$16.91 Billion | AR$176.87 Billion | AR$148.78 Billion | ▲ +12.6 pp |
| 2022 | 153.5% | AR$17.34 Billion | AR$11.30 Billion | AR$41.97 Billion | AR$24.62 Billion | ▲ +136.4 pp |
| 2021 | 17.1% | AR$3.08 Billion | AR$18.04 Billion | AR$23.22 Billion | AR$20.14 Billion | ▲ +19.1 pp |
| 2020 | -2.0% | AR$-387.59 Million | AR$19.06 Billion | AR$16.76 Billion | AR$17.14 Billion | ▼ -14.7 pp |
| 2019 | 12.7% | AR$2.04 Billion | AR$16.11 Billion | AR$13.19 Billion | AR$11.14 Billion | ▲ +4.8 pp |
| 2018 | 7.9% | AR$836.48 Million | AR$10.62 Billion | AR$5.78 Billion | AR$4.94 Billion | ▲ +24.4 pp |
| 2017 | -16.5% | AR$-401.54 Million | AR$2.43 Billion | AR$4.27 Billion | AR$4.67 Billion | ▼ -69.6 pp |
| 2016 | 53.1% | AR$727.22 Million | AR$1.37 Billion | AR$1.84 Billion | AR$1.11 Billion | ▲ +36.1 pp |
| 2015 | 17.0% | AR$179.51 Million | AR$1.05 Billion | AR$1.66 Billion | AR$1.48 Billion | — |