Thai Airways International Public Company Limited (THAI) — Working Capital to Net Assets Ratio
Thai Airways International Public Company Limited (THAI) has a Working Capital to Net Assets ratio of 94.3% as of September 2025. Working capital of ฿67.85 Billion (current assets of ฿145.33 Billion minus current liabilities of ฿77.47 Billion) is measured against net assets of ฿71.98 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See financial agility of Thai Airways International Public Compan to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Thai Airways International Public Company Limited Working Capital to Net Assets (2013–2024)
This chart shows how Thai Airways International Public Company Limited's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2013 to 2024. As of September 2025, the ratio stands at 94.3%, reflecting working capital of ฿67.85 Billion against net assets of ฿71.98 Billion THB. See THAI cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Thai Airways International Public Company Limited (2013–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for Thai Airways International Public Company Limited from 2013 to 2024, covering 12 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 Thai Airways International Public Compan (THAI) market capitalisation.
| Year | WC/NA Ratio | Working Capital (THB) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | 128.2% | ฿58.42 Billion | ฿45.59 Billion | ฿135.01 Billion | ฿76.59 Billion | ▲ +174.2 pp |
| 2023 | -46.1% | ฿19.88 Billion | ฿-43.14 Billion | ฿94.08 Billion | ฿74.20 Billion | ▼ -51.5 pp |
| 2022 | 5.4% | ฿-3.85 Billion | ฿-71.02 Billion | ฿59.80 Billion | ฿63.66 Billion | ▼ -26.2 pp |
| 2021 | 31.7% | ฿-22.55 Billion | ฿-71.25 Billion | ฿24.80 Billion | ฿47.35 Billion | ▼ -187.4 pp |
| 2020 | 219.1% | ฿-281.85 Billion | ฿-128.66 Billion | ฿20.25 Billion | ฿302.10 Billion | ▲ +525.7 pp |
| 2019 | -306.7% | ฿-36.08 Billion | ฿11.77 Billion | ฿45.68 Billion | ฿81.76 Billion | ▼ -87.8 pp |
| 2018 | -218.9% | ฿-44.78 Billion | ฿20.46 Billion | ฿44.13 Billion | ฿88.91 Billion | ▼ -89.8 pp |
| 2017 | -129.1% | ฿-41.34 Billion | ฿32.01 Billion | ฿51.52 Billion | ฿92.86 Billion | ▼ -45.3 pp |
| 2016 | -83.8% | ฿-28.15 Billion | ฿33.59 Billion | ฿59.37 Billion | ฿87.52 Billion | ▼ -6.2 pp |
| 2015 | -77.6% | ฿-25.55 Billion | ฿32.93 Billion | ฿70.48 Billion | ฿96.02 Billion | ▲ +14.0 pp |
| 2014 | -91.6% | ฿-37.82 Billion | ฿41.30 Billion | ฿64.28 Billion | ฿102.11 Billion | ▼ -49.6 pp |
| 2013 | -42.0% | ฿-23.88 Billion | ฿56.92 Billion | ฿58.48 Billion | ฿82.37 Billion | — |