GlaxoSmithKline PLC (GSK) — Working Capital to Net Assets Ratio
GlaxoSmithKline PLC (GSK) has a Working Capital to Net Assets ratio of -22.2% as of September 2025. Working capital of GBX-3.49 Billion (current assets of GBX17.84 Billion minus current liabilities of GBX21.33 Billion) is measured against net assets of GBX15.75 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See GSK net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
GlaxoSmithKline PLC Working Capital to Net Assets (1986–2024)
This chart shows how GlaxoSmithKline PLC's Working Capital to Net Assets ratio has evolved across 40 annual periods from 1986 to 2024. As of September 2025, the ratio stands at -22.2%, reflecting working capital of GBX-3.49 Billion against net assets of GBX15.75 Billion GBX. Check tangible equity quality of GlaxoSmithKline PLC to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for GlaxoSmithKline PLC (1986–2024)
The table below presents the year-by-year Working Capital to Net Assets ratio for GlaxoSmithKline PLC from 1986 to 2024, covering 40 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 how much is GlaxoSmithKline PLC worth.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2024 | -35.9% | GBX-4.70 Billion | GBX13.09 Billion | GBX17.00 Billion | GBX21.70 Billion | ▼ -17.0 pp |
| 2023 | -18.9% | GBX-2.42 Billion | GBX12.79 Billion | GBX18.64 Billion | GBX21.07 Billion | ▲ +1.3 pp |
| 2022 | -20.2% | GBX-2.04 Billion | GBX10.10 Billion | GBX20.77 Billion | GBX22.81 Billion | ▲ +3.2 pp |
| 2021 | -23.4% | GBX-5.00 Billion | GBX21.34 Billion | GBX18.67 Billion | GBX23.67 Billion | ▼ -14.3 pp |
| 2020 | -9.1% | GBX-1.90 Billion | GBX20.81 Billion | GBX20.25 Billion | GBX22.15 Billion | ▲ +15.7 pp |
| 2019 | -24.8% | GBX-4.56 Billion | GBX18.36 Billion | GBX19.49 Billion | GBX24.05 Billion | ▲ +126.7 pp |
| 2018 | -151.5% | GBX-5.56 Billion | GBX3.67 Billion | GBX16.93 Billion | GBX22.49 Billion | ▲ +154.1 pp |
| 2017 | -305.6% | GBX-10.66 Billion | GBX3.49 Billion | GBX15.91 Billion | GBX26.57 Billion | ▼ -259.4 pp |
| 2016 | -46.1% | GBX-2.29 Billion | GBX4.96 Billion | GBX16.71 Billion | GBX19.00 Billion | ▼ -81.8 pp |
| 2015 | 35.7% | GBX3.17 Billion | GBX8.88 Billion | GBX16.59 Billion | GBX13.42 Billion | ▲ +7.7 pp |
| 2014 | 28.0% | GBX1.38 Billion | GBX4.94 Billion | GBX14.68 Billion | GBX13.29 Billion | ▲ +8.2 pp |
| 2013 | 19.8% | GBX1.55 Billion | GBX7.81 Billion | GBX15.23 Billion | GBX13.68 Billion | ▲ +21.7 pp |
| 2012 | -1.8% | GBX-123.00 Million | GBX6.75 Billion | GBX13.69 Billion | GBX13.81 Billion | ▼ -14.9 pp |
| 2011 | 13.1% | GBX1.16 Billion | GBX8.83 Billion | GBX16.17 Billion | GBX15.01 Billion | ▼ -22.0 pp |
| 2010 | 35.1% | GBX3.42 Billion | GBX9.74 Billion | GBX16.04 Billion | GBX12.62 Billion | ▼ -15.7 pp |
| 2009 | 50.8% | GBX5.45 Billion | GBX10.74 Billion | GBX17.57 Billion | GBX12.12 Billion | ▼ -36.4 pp |
| 2008 | 87.2% | GBX7.25 Billion | GBX8.32 Billion | GBX17.27 Billion | GBX10.02 Billion | ▲ +54.1 pp |
| 2007 | 33.1% | GBX3.28 Billion | GBX9.91 Billion | GBX13.63 Billion | GBX10.35 Billion | ▼ -5.5 pp |
| 2006 | 38.6% | GBX3.73 Billion | GBX9.65 Billion | GBX10.99 Billion | GBX7.26 Billion | ▼ -9.8 pp |
| 2005 | 48.4% | GBX3.67 Billion | GBX7.57 Billion | GBX13.18 Billion | GBX9.51 Billion | ▲ +11.1 pp |
| 2004 | 37.3% | GBX2.22 Billion | GBX5.94 Billion | GBX10.78 Billion | GBX8.56 Billion | ▼ -34.2 pp |
| 2003 | 71.6% | GBX4.15 Billion | GBX5.80 Billion | GBX12.62 Billion | GBX8.47 Billion | ▲ +45.3 pp |
| 2002 | 26.3% | GBX1.94 Billion | GBX7.39 Billion | GBX10.75 Billion | GBX8.81 Billion | ▲ +19.5 pp |
| 2001 | 6.8% | GBX568.48 Million | GBX8.40 Billion | GBX10.02 Billion | GBX9.45 Billion | ▼ -17.6 pp |
| 2000 | 24.4% | GBX2.18 Billion | GBX8.96 Billion | GBX11.27 Billion | GBX9.08 Billion | ▼ -1.2 pp |
| 1999 | 25.6% | GBX817.00 Million | GBX3.19 Billion | GBX6.08 Billion | GBX5.26 Billion | ▼ -23.7 pp |
| 1998 | 49.3% | GBX1.36 Billion | GBX2.77 Billion | GBX5.51 Billion | GBX4.14 Billion | ▲ +0.8 pp |
| 1997 | 48.5% | GBX916.00 Million | GBX1.89 Billion | GBX4.80 Billion | GBX3.89 Billion | ▲ +31.6 pp |
| 1996 | 16.9% | GBX214.00 Million | GBX1.27 Billion | GBX4.37 Billion | GBX4.15 Billion | ▲ +553.5 pp |
| 1995 | -536.7% | GBX-1.19 Billion | GBX221.00 Million | GBX4.28 Billion | GBX5.47 Billion | ▼ -635.4 pp |
| 1995 | 98.8% | GBX567.72 Million | GBX574.69 Million | GBX3.74 Billion | GBX3.17 Billion | ▲ +49.9 pp |
| 1994 | 48.9% | GBX2.52 Billion | GBX5.15 Billion | GBX4.65 Billion | GBX2.13 Billion | ▲ +0.8 pp |
| 1993 | 48.1% | GBX2.24 Billion | GBX4.66 Billion | GBX4.44 Billion | GBX2.20 Billion | ▲ +0.2 pp |
| 1992 | 47.8% | GBX1.74 Billion | GBX3.64 Billion | GBX3.31 Billion | GBX1.57 Billion | ▼ -1.2 pp |
| 1991 | 49.0% | GBX1.61 Billion | GBX3.28 Billion | GBX3.63 Billion | GBX2.03 Billion | ▼ -3.0 pp |
| 1990 | 52.0% | GBX1.46 Billion | GBX2.81 Billion | GBX2.86 Billion | GBX1.41 Billion | ▼ -9.4 pp |
| 1989 | 61.3% | GBX1.42 Billion | GBX2.31 Billion | GBX2.28 Billion | GBX863.00 Million | ▼ -0.5 pp |
| 1988 | 61.9% | GBX1.12 Billion | GBX1.80 Billion | GBX1.99 Billion | GBX869.00 Million | ▼ -2.7 pp |
| 1987 | 64.6% | GBX946.00 Million | GBX1.46 Billion | GBX1.66 Billion | GBX711.00 Million | ▲ +4.4 pp |
| 1986 | 60.2% | GBX662.00 Million | GBX1.10 Billion | GBX1.22 Billion | GBX559.00 Million | — |