British American Tobacco PLC (BATS) — Working Capital to Net Assets Ratio
British American Tobacco PLC (BATS) has a Working Capital to Net Assets ratio of -4.8% as of June 2026. Working capital of GBX-2.35 Billion (current assets of GBX11.92 Billion minus current liabilities of GBX14.28 Billion) is measured against net assets of GBX48.59 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See how many days can British American Tobacco PLC fund operations to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
British American Tobacco PLC Working Capital to Net Assets (1995–2025)
This chart shows how British American Tobacco PLC's Working Capital to Net Assets ratio has evolved across 31 annual periods from 1995 to 2025. As of June 2026, the ratio stands at -4.8%, reflecting working capital of GBX-2.35 Billion against net assets of GBX48.59 Billion GBX. For the complete balance sheet picture, see BATS current and non-current assets.
Annual Working Capital to Net Assets for British American Tobacco PLC (1995–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for British American Tobacco PLC from 1995 to 2025, covering 31 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. Check BATS cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -3.8% | GBX-1.84 Billion | GBX48.15 Billion | GBX12.68 Billion | GBX14.52 Billion | ▲ +5.1 pp |
| 2024 | -8.9% | GBX-4.45 Billion | GBX49.99 Billion | GBX14.29 Billion | GBX18.74 Billion | ▼ -6.1 pp |
| 2023 | -2.8% | GBX-1.49 Billion | GBX52.93 Billion | GBX14.19 Billion | GBX15.67 Billion | ▲ +0.4 pp |
| 2022 | -3.2% | GBX-2.44 Billion | GBX75.71 Billion | GBX15.41 Billion | GBX17.85 Billion | ▲ +0.2 pp |
| 2021 | -3.5% | GBX-2.34 Billion | GBX67.40 Billion | GBX12.81 Billion | GBX15.14 Billion | ▼ -0.5 pp |
| 2020 | -3.0% | GBX-1.87 Billion | GBX62.95 Billion | GBX13.61 Billion | GBX15.48 Billion | ▲ +5.7 pp |
| 2019 | -8.6% | GBX-5.55 Billion | GBX64.16 Billion | GBX13.27 Billion | GBX18.82 Billion | ▼ -3.1 pp |
| 2018 | -5.6% | GBX-3.67 Billion | GBX65.69 Billion | GBX12.65 Billion | GBX16.33 Billion | ▼ -3.0 pp |
| 2017 | -2.6% | GBX-1.58 Billion | GBX61.03 Billion | GBX13.97 Billion | GBX15.54 Billion | ▼ -8.6 pp |
| 2016 | 6.0% | GBX503.00 Million | GBX8.41 Billion | GBX12.36 Billion | GBX11.86 Billion | ▼ -10.1 pp |
| 2015 | 16.1% | GBX808.00 Million | GBX5.03 Billion | GBX9.81 Billion | GBX9.01 Billion | ▲ +9.8 pp |
| 2014 | 6.2% | GBX363.00 Million | GBX5.81 Billion | GBX9.13 Billion | GBX8.77 Billion | ▼ -9.4 pp |
| 2013 | 15.6% | GBX1.08 Billion | GBX6.93 Billion | GBX9.52 Billion | GBX8.44 Billion | ▲ +2.2 pp |
| 2012 | 13.4% | GBX1.04 Billion | GBX7.78 Billion | GBX9.19 Billion | GBX8.14 Billion | ▲ +5.8 pp |
| 2011 | 7.6% | GBX648.00 Million | GBX8.47 Billion | GBX8.49 Billion | GBX7.85 Billion | ▼ -3.0 pp |
| 2010 | 10.6% | GBX1.01 Billion | GBX9.55 Billion | GBX8.66 Billion | GBX7.64 Billion | ▼ -4.4 pp |
| 2009 | 15.0% | GBX1.19 Billion | GBX7.91 Billion | GBX8.11 Billion | GBX6.92 Billion | ▲ +17.0 pp |
| 2008 | -1.9% | GBX-139.00 Million | GBX7.21 Billion | GBX8.74 Billion | GBX8.88 Billion | ▼ -13.4 pp |
| 2007 | 11.5% | GBX812.00 Million | GBX7.09 Billion | GBX5.37 Billion | GBX4.55 Billion | ▼ -2.6 pp |
| 2006 | 14.0% | GBX938.00 Million | GBX6.69 Billion | GBX5.39 Billion | GBX4.45 Billion | ▲ +13.0 pp |
| 2005 | 1.0% | GBX68.00 Million | GBX6.88 Billion | GBX5.90 Billion | GBX5.84 Billion | ▼ -19.3 pp |
| 2004 | 20.3% | GBX1.24 Billion | GBX6.12 Billion | GBX5.68 Billion | GBX4.44 Billion | ▼ -3.5 pp |
| 2003 | 23.8% | GBX1.09 Billion | GBX4.59 Billion | GBX7.54 Billion | GBX6.45 Billion | ▼ -19.8 pp |
| 2002 | 43.5% | GBX-4.71 Billion | GBX-10.82 Billion | GBX6.62 Million | GBX4.72 Billion | ▲ +16.2 pp |
| 2001 | 27.3% | GBX1.39 Billion | GBX5.08 Billion | GBX7.22 Billion | GBX5.83 Billion | ▼ -4.4 pp |
| 2000 | 31.7% | GBX1.75 Billion | GBX5.52 Billion | GBX7.25 Billion | GBX5.50 Billion | ▼ -19.4 pp |
| 1999 | 51.1% | GBX2.69 Billion | GBX5.28 Billion | GBX7.59 Billion | GBX4.90 Billion | ▼ -151.3 pp |
| 1998 | 202.3% | GBX783.00 Million | GBX387.00 Million | GBX4.81 Billion | GBX4.03 Billion | ▲ +377.4 pp |
| 1997 | -175.1% | GBX-429.00 Million | GBX245.00 Million | GBX5.91 Billion | GBX6.33 Billion | ▼ -353.8 pp |
| 1996 | 178.7% | GBX1.84 Billion | GBX1.03 Billion | GBX5.73 Billion | GBX3.89 Billion | ▼ -26.7 pp |
| 1995 | 205.4% | GBX1.78 Billion | GBX867.00 Million | GBX5.46 Billion | GBX3.68 Billion | — |