Thai Oil Public Company Limited (TOP) — Working Capital to Net Assets Ratio
Thai Oil Public Company Limited (TOP) has a Working Capital to Net Assets ratio of 20.7% as of December 2025. Working capital of ฿39.91 Billion (current assets of ฿130.30 Billion minus current liabilities of ฿90.39 Billion) is measured against net assets of ฿193.03 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See TOP net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Thai Oil Public Company Limited Working Capital to Net Assets (2003–2025)
This chart shows how Thai Oil Public Company Limited's Working Capital to Net Assets ratio has evolved across 23 annual periods from 2003 to 2025. As of December 2025, the ratio stands at 20.7%, reflecting working capital of ฿39.91 Billion against net assets of ฿193.03 Billion THB. Check how tangible is Thai Oil Public Company Limited's equity to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Thai Oil Public Company Limited (2003–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Thai Oil Public Company Limited from 2003 to 2025, covering 23 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 market value of Thai Oil Public Company Limited.
| Year | WC/NA Ratio | Working Capital (THB) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 20.7% | ฿39.91 Billion | ฿193.03 Billion | ฿130.30 Billion | ฿90.39 Billion | ▼ -6.1 pp |
| 2024 | 26.8% | ฿44.56 Billion | ฿166.18 Billion | ฿112.22 Billion | ฿67.66 Billion | ▼ -4.0 pp |
| 2023 | 30.8% | ฿51.87 Billion | ฿168.31 Billion | ฿125.37 Billion | ฿73.50 Billion | ▼ -0.8 pp |
| 2022 | 31.6% | ฿50.16 Billion | ฿158.66 Billion | ฿153.83 Billion | ฿103.67 Billion | ▼ -19.4 pp |
| 2021 | 51.0% | ฿62.76 Billion | ฿123.09 Billion | ฿101.24 Billion | ฿38.48 Billion | ▼ -20.3 pp |
| 2020 | 71.3% | ฿85.61 Billion | ฿120.12 Billion | ฿114.23 Billion | ฿28.62 Billion | ▼ -6.2 pp |
| 2019 | 77.5% | ฿96.01 Billion | ฿123.92 Billion | ฿134.68 Billion | ฿38.67 Billion | ▼ -22.7 pp |
| 2018 | 100.2% | ฿126.72 Billion | ฿126.47 Billion | ฿164.74 Billion | ฿38.02 Billion | ▲ +27.2 pp |
| 2017 | 73.0% | ฿92.86 Billion | ฿127.15 Billion | ฿126.21 Billion | ฿33.35 Billion | ▼ -0.1 pp |
| 2016 | 73.1% | ฿81.58 Billion | ฿111.60 Billion | ฿115.73 Billion | ฿34.15 Billion | ▼ -1.4 pp |
| 2015 | 74.5% | ฿72.30 Billion | ฿97.01 Billion | ฿90.49 Billion | ฿18.19 Billion | ▲ +5.8 pp |
| 2014 | 68.7% | ฿59.83 Billion | ฿87.04 Billion | ฿95.46 Billion | ฿35.63 Billion | ▼ -13.1 pp |
| 2013 | 81.8% | ฿77.57 Billion | ฿94.84 Billion | ฿127.15 Billion | ฿49.58 Billion | ▲ +9.9 pp |
| 2012 | 71.9% | ฿65.21 Billion | ฿90.72 Billion | ฿100.38 Billion | ฿35.17 Billion | ▲ +4.6 pp |
| 2011 | 67.3% | ฿57.25 Billion | ฿85.03 Billion | ฿84.15 Billion | ฿26.90 Billion | ▲ +5.7 pp |
| 2010 | 61.6% | ฿47.35 Billion | ฿76.84 Billion | ฿74.72 Billion | ฿27.37 Billion | ▲ +5.6 pp |
| 2009 | 56.0% | ฿40.17 Billion | ฿71.69 Billion | ฿64.47 Billion | ฿24.30 Billion | ▲ +17.8 pp |
| 2008 | 38.3% | ฿24.33 Billion | ฿63.58 Billion | ฿54.60 Billion | ฿30.27 Billion | ▼ -4.1 pp |
| 2007 | 42.3% | ฿30.43 Billion | ฿71.89 Billion | ฿62.98 Billion | ฿32.55 Billion | ▲ +1.8 pp |
| 2006 | 40.5% | ฿29.50 Billion | ฿72.81 Billion | ฿48.39 Billion | ฿18.89 Billion | ▼ -5.8 pp |
| 2005 | 46.3% | ฿30.93 Billion | ฿66.85 Billion | ฿51.00 Billion | ฿20.07 Billion | ▲ +9.5 pp |
| 2004 | 36.7% | ฿19.69 Billion | ฿53.58 Billion | ฿40.12 Billion | ฿20.44 Billion | ▼ -7.9 pp |
| 2003 | 44.7% | ฿16.21 Billion | ฿36.28 Billion | ฿29.61 Billion | ฿13.40 Billion | — |