AirAsia X Bhd (5238) — Working Capital to Net Assets Ratio
AirAsia X Bhd (5238) has a Working Capital to Net Assets ratio of -18245.5% as of March 2026. Working capital of RM-14.96 Billion (current assets of RM4.37 Billion minus current liabilities of RM19.33 Billion) is measured against net assets of RM81.99 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See 5238 free cash flow debt coverage to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
AirAsia X Bhd Working Capital to Net Assets (2012–2025)
This chart shows how AirAsia X Bhd's Working Capital to Net Assets ratio has evolved across 13 annual periods from 2012 to 2025. As of March 2026, the ratio stands at -18245.5%, reflecting working capital of RM-14.96 Billion against net assets of RM81.99 Million MYR. See AirAsia X Bhd (5238) defensive interval to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for AirAsia X Bhd (2012–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for AirAsia X Bhd from 2012 to 2025, covering 13 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 AirAsia X Bhd stock valuation.
| Year | WC/NA Ratio | Working Capital (MYR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -49.9% | RM-253.45 Million | RM508.06 Million | RM1.19 Billion | RM1.44 Billion | ▲ +87.4 pp |
| 2024 | -137.3% | RM-479.46 Million | RM349.18 Million | RM755.64 Million | RM1.24 Billion | ▲ +326.3 pp |
| 2023 | -463.6% | RM-538.59 Million | RM116.17 Million | RM703.08 Million | RM1.24 Billion | ▼ -606.4 pp |
| 2022 | 142.8% | RM-370.14 Million | RM-259.23 Million | RM550.15 Million | RM920.29 Million | ▲ +41.3 pp |
| 2020 | 101.5% | RM-34.06 Billion | RM-33.57 Billion | RM350.02 Million | RM34.41 Billion | ▲ +885.1 pp |
| 2019 | -783.6% | RM-1.08 Billion | RM137.87 Million | RM1.50 Billion | RM2.58 Billion | ▼ -674.9 pp |
| 2018 | -108.7% | RM-623.68 Million | RM573.66 Million | RM1.55 Billion | RM2.17 Billion | ▲ +4.0 pp |
| 2017 | -112.7% | RM-1.11 Billion | RM988.61 Million | RM1.11 Billion | RM2.22 Billion | ▼ -39.5 pp |
| 2016 | -73.2% | RM-729.26 Million | RM996.87 Million | RM1.32 Billion | RM2.05 Billion | ▲ +114.6 pp |
| 2015 | -187.7% | RM-1.19 Billion | RM631.81 Million | RM814.89 Million | RM2.00 Billion | ▲ +19.9 pp |
| 2014 | -207.7% | RM-1.46 Billion | RM704.00 Million | RM504.00 Million | RM1.97 Billion | ▼ -145.9 pp |
| 2013 | -61.7% | RM-763.00 Million | RM1.24 Billion | RM453.00 Million | RM1.22 Billion | ▲ +50.7 pp |
| 2012 | -112.4% | RM-653.00 Million | RM581.00 Million | RM323.00 Million | RM976.00 Million | — |