Bavarian Nordic (BAVA) — Working Capital to Net Assets Ratio
Bavarian Nordic (BAVA) has a Working Capital to Net Assets ratio of 39.9% as of December 2025. Working capital of Dkr5.14 Billion (current assets of Dkr6.74 Billion minus current liabilities of Dkr1.60 Billion) is measured against net assets of Dkr12.87 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how leveraged is Bavarian Nordic's balance sheet to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Bavarian Nordic Working Capital to Net Assets (2001–2025)
This chart shows how Bavarian Nordic's Working Capital to Net Assets ratio has evolved across 25 annual periods from 2001 to 2025. As of December 2025, the ratio stands at 39.9%, reflecting working capital of Dkr5.14 Billion against net assets of Dkr12.87 Billion DKK. Check tangible equity quality of Bavarian Nordic to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Bavarian Nordic (2001–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Bavarian Nordic from 2001 to 2025, covering 25 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 Bavarian Nordic market cap and net worth.
| Year | WC/NA Ratio | Working Capital (DKK) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 39.9% | Dkr5.14 Billion | Dkr12.87 Billion | Dkr6.74 Billion | Dkr1.60 Billion | ▲ +13.7 pp |
| 2024 | 26.2% | Dkr2.99 Billion | Dkr11.41 Billion | Dkr5.79 Billion | Dkr2.80 Billion | ▲ +0.9 pp |
| 2023 | 25.3% | Dkr2.62 Billion | Dkr10.34 Billion | Dkr5.40 Billion | Dkr2.79 Billion | ▼ -5.4 pp |
| 2022 | 30.7% | Dkr2.20 Billion | Dkr7.15 Billion | Dkr4.48 Billion | Dkr2.29 Billion | ▼ -7.8 pp |
| 2021 | 38.6% | Dkr2.85 Billion | Dkr7.37 Billion | Dkr4.75 Billion | Dkr1.91 Billion | ▲ +9.4 pp |
| 2020 | 29.2% | Dkr1.43 Billion | Dkr4.89 Billion | Dkr2.38 Billion | Dkr952.31 Million | ▲ +103.8 pp |
| 2019 | -74.6% | Dkr-1.39 Billion | Dkr1.87 Billion | Dkr654.87 Million | Dkr2.05 Billion | ▼ -167.5 pp |
| 2018 | 92.9% | Dkr2.03 Billion | Dkr2.18 Billion | Dkr2.51 Billion | Dkr482.69 Million | ▼ -7.8 pp |
| 2017 | 100.7% | Dkr2.52 Billion | Dkr2.51 Billion | Dkr2.77 Billion | Dkr246.61 Million | ▲ +24.8 pp |
| 2016 | 75.9% | Dkr1.53 Billion | Dkr2.02 Billion | Dkr2.28 Billion | Dkr751.80 Million | ▲ +15.2 pp |
| 2015 | 60.6% | Dkr814.02 Million | Dkr1.34 Billion | Dkr1.40 Billion | Dkr590.23 Million | ▲ +1.9 pp |
| 2014 | 58.8% | Dkr735.85 Million | Dkr1.25 Billion | Dkr1.32 Billion | Dkr583.28 Million | ▲ +6.4 pp |
| 2013 | 52.4% | Dkr511.12 Million | Dkr976.29 Million | Dkr900.37 Million | Dkr389.25 Million | ▲ +11.4 pp |
| 2012 | 41.0% | Dkr409.66 Million | Dkr999.68 Million | Dkr894.92 Million | Dkr485.26 Million | ▲ +3.9 pp |
| 2011 | 37.1% | Dkr447.78 Million | Dkr1.21 Billion | Dkr1.11 Billion | Dkr663.58 Million | ▲ +26.3 pp |
| 2010 | 10.8% | Dkr87.76 Million | Dkr810.43 Million | Dkr637.94 Million | Dkr550.18 Million | ▼ -3.7 pp |
| 2009 | 14.5% | Dkr102.11 Million | Dkr704.21 Million | Dkr555.98 Million | Dkr453.87 Million | ▼ -32.1 pp |
| 2008 | 46.6% | Dkr473.55 Million | Dkr1.02 Billion | Dkr1.10 Billion | Dkr626.47 Million | ▼ -20.2 pp |
| 2007 | 66.8% | Dkr813.51 Million | Dkr1.22 Billion | Dkr1.19 Billion | Dkr379.71 Million | ▲ +27.2 pp |
| 2006 | 39.6% | Dkr273.76 Million | Dkr691.40 Million | Dkr386.19 Million | Dkr112.42 Million | ▼ -19.1 pp |
| 2005 | 58.7% | Dkr369.94 Million | Dkr630.10 Million | Dkr456.20 Million | Dkr86.26 Million | ▲ +36.6 pp |
| 2004 | 22.1% | Dkr69.65 Million | Dkr315.39 Million | Dkr310.26 Million | Dkr240.60 Million | ▼ -58.9 pp |
| 2003 | 81.0% | Dkr280.98 Million | Dkr347.00 Million | Dkr358.18 Million | Dkr77.20 Million | ▲ +35.4 pp |
| 2002 | 45.6% | Dkr89.49 Million | Dkr196.44 Million | Dkr206.16 Million | Dkr116.67 Million | ▼ -33.4 pp |
| 2001 | 78.9% | Dkr34.84 Million | Dkr44.14 Million | Dkr52.47 Million | Dkr17.63 Million | — |