British American Tobacco PLC Working Capital to Net Assets Ratio
British American Tobacco PLC 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. Check BATS tangible net assets ratio to evaluate the tangible quality of the company's equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of British American Tobacco PLC (1995–2025)
Working capital to net assets ratio of British American Tobacco PLC from 1995 to 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. See British American Tobacco PLC liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
British American Tobacco PLC Working Capital to Net Assets Ratio by Year (1995–2025)
British American Tobacco PLC working capital to net assets ratio by year from 1995 to 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. For the complete balance sheet picture, see British American Tobacco PLC asset portfolio.
| 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 | — |