MGM China Holdings Limited (M04) — Working Capital to Net Assets Ratio
MGM China Holdings Limited (M04) has a Working Capital to Net Assets ratio of -166.7% as of December 2025. Working capital of €-5.41 Billion (current assets of €6.24 Billion minus current liabilities of €11.65 Billion) is measured against net assets of €3.25 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See M04 cash and liquid assets coverage to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
MGM China Holdings Limited Working Capital to Net Assets (2014–2025)
This chart shows how MGM China Holdings Limited's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2014 to 2025. As of December 2025, the ratio stands at -166.7%, reflecting working capital of €-5.41 Billion against net assets of €3.25 Billion EUR. For the complete balance sheet picture, see balance sheet size of MGM China Holdings Limited.
Annual Working Capital to Net Assets for MGM China Holdings Limited (2014–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for MGM China Holdings Limited from 2014 to 2025, 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. Read MGM China Holdings Limited balance sheet liabilities for a breakdown of total debt and financial obligations.
| Year | WC/NA Ratio | Working Capital (EUR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -166.7% | €-5.41 Billion | €3.25 Billion | €6.24 Billion | €11.65 Billion | ▲ +318.9 pp |
| 2024 | -485.6% | €-2.56 Billion | €527.53 Million | €6.56 Billion | €9.12 Billion | ▼ -876.5 pp |
| 2023 | 390.9% | €-5.19 Billion | €-1.33 Billion | €5.14 Billion | €10.33 Billion | ▲ +514.2 pp |
| 2022 | -123.4% | €4.93 Billion | €-4.00 Billion | €7.23 Billion | €2.30 Billion | ▼ -169.8 pp |
| 2021 | 46.4% | €555.18 Million | €1.20 Billion | €3.67 Billion | €3.11 Billion | ▲ +48.5 pp |
| 2020 | -2.1% | €-104.61 Million | €5.02 Billion | €3.19 Billion | €3.29 Billion | ▲ +8.8 pp |
| 2019 | -10.9% | €-1.14 Billion | €10.46 Billion | €4.10 Billion | €5.24 Billion | ▲ +27.2 pp |
| 2018 | -38.0% | €-3.40 Billion | €8.95 Billion | €4.66 Billion | €8.06 Billion | ▲ +78.1 pp |
| 2017 | -116.1% | €-9.88 Billion | €8.51 Billion | €5.81 Billion | €15.70 Billion | ▼ -96.0 pp |
| 2016 | -20.1% | €-1.45 Billion | €7.22 Billion | €4.04 Billion | €5.49 Billion | ▼ -42.3 pp |
| 2015 | 22.2% | €1.09 Billion | €4.92 Billion | €5.94 Billion | €4.85 Billion | ▲ +37.2 pp |
| 2014 | -15.0% | €-948.94 Million | €6.34 Billion | €4.91 Billion | €5.86 Billion | — |