Carlsberg A/S (CARL-A) — Working Capital to Net Assets Ratio
Carlsberg A/S (CARL-A) has a Working Capital to Net Assets ratio of -62.9% as of December 2025. Working capital of Dkr-19.30 Billion (current assets of Dkr29.25 Billion minus current liabilities of Dkr48.55 Billion) is measured against net assets of Dkr30.68 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See net asset quality index of Carlsberg A/S to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Carlsberg A/S Working Capital to Net Assets (2002–2025)
This chart shows how Carlsberg A/S's Working Capital to Net Assets ratio has evolved across 24 annual periods from 2002 to 2025. As of December 2025, the ratio stands at -62.9%, reflecting working capital of Dkr-19.30 Billion against net assets of Dkr30.68 Billion DKK. Check Carlsberg A/S tangible net worth ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Carlsberg A/S (2002–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Carlsberg A/S from 2002 to 2025, covering 24 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 Carlsberg A/S stock valuation.
| Year | WC/NA Ratio | Working Capital (DKK) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -62.9% | Dkr-19.30 Billion | Dkr30.68 Billion | Dkr29.25 Billion | Dkr48.55 Billion | ▲ +1.4 pp |
| 2024 | -64.3% | Dkr-19.70 Billion | Dkr30.61 Billion | Dkr26.35 Billion | Dkr46.05 Billion | ▲ +1.8 pp |
| 2023 | -66.1% | Dkr-17.03 Billion | Dkr25.75 Billion | Dkr30.20 Billion | Dkr47.23 Billion | ▼ -24.4 pp |
| 2022 | -41.8% | Dkr-14.50 Billion | Dkr34.72 Billion | Dkr34.25 Billion | Dkr48.75 Billion | ▼ -0.3 pp |
| 2021 | -41.4% | Dkr-20.19 Billion | Dkr48.76 Billion | Dkr23.09 Billion | Dkr43.28 Billion | ▼ -19.6 pp |
| 2020 | -21.8% | Dkr-9.45 Billion | Dkr43.36 Billion | Dkr19.00 Billion | Dkr28.45 Billion | ▲ +11.6 pp |
| 2019 | -33.4% | Dkr-15.36 Billion | Dkr46.03 Billion | Dkr17.95 Billion | Dkr33.31 Billion | ▲ +0.9 pp |
| 2018 | -34.2% | Dkr-16.39 Billion | Dkr47.89 Billion | Dkr18.09 Billion | Dkr34.48 Billion | ▼ -14.4 pp |
| 2017 | -19.8% | Dkr-9.81 Billion | Dkr49.52 Billion | Dkr15.25 Billion | Dkr25.07 Billion | ▲ +12.2 pp |
| 2016 | -32.0% | Dkr-17.17 Billion | Dkr53.65 Billion | Dkr16.98 Billion | Dkr34.15 Billion | ▼ -5.2 pp |
| 2015 | -26.9% | Dkr-12.68 Billion | Dkr47.23 Billion | Dkr17.08 Billion | Dkr29.76 Billion | ▼ -12.8 pp |
| 2014 | -14.1% | Dkr-7.88 Billion | Dkr56.00 Billion | Dkr18.64 Billion | Dkr26.52 Billion | ▲ +5.9 pp |
| 2013 | -19.9% | Dkr-14.26 Billion | Dkr71.50 Billion | Dkr20.13 Billion | Dkr34.39 Billion | ▼ -11.3 pp |
| 2012 | -8.7% | Dkr-6.40 Billion | Dkr73.65 Billion | Dkr21.14 Billion | Dkr27.54 Billion | ▲ +2.1 pp |
| 2011 | -10.8% | Dkr-7.76 Billion | Dkr71.63 Billion | Dkr18.79 Billion | Dkr26.54 Billion | ▲ +5.7 pp |
| 2010 | -16.6% | Dkr-11.52 Billion | Dkr69.63 Billion | Dkr15.52 Billion | Dkr27.05 Billion | ▼ -0.8 pp |
| 2009 | -15.8% | Dkr-10.12 Billion | Dkr64.15 Billion | Dkr14.84 Billion | Dkr24.96 Billion | ▼ -5.1 pp |
| 2008 | -10.7% | Dkr-6.48 Billion | Dkr60.75 Billion | Dkr19.12 Billion | Dkr25.60 Billion | ▲ +0.9 pp |
| 2007 | -11.6% | Dkr-2.30 Billion | Dkr19.94 Billion | Dkr14.91 Billion | Dkr17.21 Billion | ▲ +11.6 pp |
| 2006 | -23.2% | Dkr-4.40 Billion | Dkr18.99 Billion | Dkr13.97 Billion | Dkr18.37 Billion | ▲ +4.9 pp |
| 2005 | -28.1% | Dkr-5.48 Billion | Dkr19.50 Billion | Dkr14.93 Billion | Dkr20.41 Billion | ▼ -27.6 pp |
| 2004 | -0.5% | Dkr-85.00 Million | Dkr16.11 Billion | Dkr12.93 Billion | Dkr13.02 Billion | ▼ -13.9 pp |
| 2003 | 13.4% | Dkr2.40 Billion | Dkr17.91 Billion | Dkr16.75 Billion | Dkr14.35 Billion | ▲ +8.7 pp |
| 2002 | 4.7% | Dkr808.00 Million | Dkr17.29 Billion | Dkr15.92 Billion | Dkr15.12 Billion | — |