Changhae Ethanol Co. Ltd (004650) — Working Capital to Net Assets Ratio
Changhae Ethanol Co. Ltd (004650) has a Working Capital to Net Assets ratio of 10.9% as of March 2026. Working capital of ₩15.77 Billion (current assets of ₩67.96 Billion minus current liabilities of ₩52.18 Billion) is measured against net assets of ₩144.53 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Changhae Ethanol Co. Ltd (004650) flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Changhae Ethanol Co. Ltd Working Capital to Net Assets (2014–2025)
This chart shows how Changhae Ethanol Co. Ltd's Working Capital to Net Assets ratio has evolved across 12 annual periods from 2014 to 2025. As of March 2026, the ratio stands at 10.9%, reflecting working capital of ₩15.77 Billion against net assets of ₩144.53 Billion KRW. See 004650 days of operational coverage to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Changhae Ethanol Co. Ltd (2014–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Changhae Ethanol Co. Ltd 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. For live market cap and the full company profile, see Changhae Ethanol Co. Ltd market capitalisation.
| Year | WC/NA Ratio | Working Capital (KRW) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 11.0% | ₩15.95 Billion | ₩145.65 Billion | ₩64.20 Billion | ₩48.25 Billion | ▼ -2.4 pp |
| 2024 | 13.4% | ₩17.79 Billion | ₩133.08 Billion | ₩66.96 Billion | ₩49.17 Billion | ▲ +5.0 pp |
| 2023 | 8.3% | ₩10.68 Billion | ₩128.14 Billion | ₩71.66 Billion | ₩60.98 Billion | ▲ +4.3 pp |
| 2022 | 4.1% | ₩5.37 Billion | ₩131.95 Billion | ₩62.12 Billion | ₩56.75 Billion | ▲ +1.7 pp |
| 2021 | 2.3% | ₩3.16 Billion | ₩134.68 Billion | ₩52.35 Billion | ₩49.20 Billion | ▲ +4.6 pp |
| 2020 | -2.3% | ₩-2.95 Billion | ₩130.90 Billion | ₩54.63 Billion | ₩57.58 Billion | ▲ +5.7 pp |
| 2019 | -8.0% | ₩-9.89 Billion | ₩124.35 Billion | ₩50.13 Billion | ₩60.01 Billion | ▲ +9.1 pp |
| 2018 | -17.1% | ₩-18.07 Billion | ₩105.87 Billion | ₩127.41 Billion | ₩145.48 Billion | ▲ +23.2 pp |
| 2017 | -40.3% | ₩-43.98 Billion | ₩109.16 Billion | ₩115.76 Billion | ₩159.74 Billion | ▼ -1.6 pp |
| 2016 | -38.7% | ₩-42.69 Billion | ₩110.41 Billion | ₩125.55 Billion | ₩168.24 Billion | ▼ -68.7 pp |
| 2015 | 30.1% | ₩34.64 Billion | ₩115.16 Billion | ₩157.56 Billion | ₩122.92 Billion | ▲ +11.8 pp |
| 2014 | 18.3% | ₩26.71 Billion | ₩146.03 Billion | ₩139.85 Billion | ₩113.14 Billion | — |