HSBC Holdings PLC (HSBA) — Working Capital to Net Assets Ratio
HSBC Holdings PLC (HSBA) has a Working Capital to Net Assets ratio of -0.8% as of March 2026. Working capital of GBX-1.45 Billion (current assets of GBX214.70 Billion minus current liabilities of GBX216.15 Billion) is measured against net assets of GBX175.05 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See HSBC Holdings PLC leverage flexibility ratio to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
HSBC Holdings PLC Working Capital to Net Assets (2012–2025)
This chart shows how HSBC Holdings PLC's Working Capital to Net Assets ratio has evolved across 14 annual periods from 2012 to 2025. As of March 2026, the ratio stands at -0.8%, reflecting working capital of GBX-1.45 Billion against net assets of GBX175.05 Billion GBX. See HSBA defensive asset coverage days to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for HSBC Holdings PLC (2012–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for HSBC Holdings PLC from 2012 to 2025, covering 14 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 HSBA stock market capitalisation.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 134.2% | GBX248.36 Billion | GBX185.02 Billion | GBX609.23 Billion | GBX360.87 Billion | ▲ +645.7 pp |
| 2024 | -511.4% | GBX-983.37 Billion | GBX192.27 Billion | GBX835.34 Billion | GBX1.82 Trillion | ▲ +247.6 pp |
| 2023 | -759.1% | GBX-1.46 Trillion | GBX192.61 Billion | GBX319.76 Billion | GBX1.78 Trillion | ▼ -122.4 pp |
| 2022 | -636.7% | GBX-1.18 Trillion | GBX185.20 Billion | GBX550.61 Billion | GBX1.73 Trillion | ▲ +84.7 pp |
| 2021 | -721.4% | GBX-1.49 Trillion | GBX206.78 Billion | GBX422.44 Billion | GBX1.91 Trillion | ▼ -871.8 pp |
| 2020 | 150.5% | GBX308.45 Billion | GBX205.00 Billion | GBX318.85 Billion | GBX10.41 Billion | ▲ +56.3 pp |
| 2019 | 94.1% | GBX181.33 Billion | GBX192.67 Billion | GBX193.14 Billion | GBX11.81 Billion | ▼ -3.4 pp |
| 2018 | 97.5% | GBX189.43 Billion | GBX194.25 Billion | GBX200.72 Billion | GBX11.30 Billion | ▲ +37.8 pp |
| 2017 | 59.7% | GBX118.13 Billion | GBX197.87 Billion | GBX218.06 Billion | GBX99.93 Billion | ▼ -48.3 pp |
| 2016 | 108.0% | GBX197.17 Billion | GBX182.58 Billion | GBX207.94 Billion | GBX10.77 Billion | ▲ +52.1 pp |
| 2015 | 55.9% | GBX110.49 Billion | GBX197.52 Billion | GBX121.62 Billion | GBX11.13 Billion | ▼ -22.5 pp |
| 2014 | 78.4% | GBX156.86 Billion | GBX199.98 Billion | GBX171.94 Billion | GBX15.07 Billion | ▼ -21.5 pp |
| 2013 | 100.0% | GBX190.37 Billion | GBX190.46 Billion | GBX206.56 Billion | GBX16.18 Billion | ▲ +6.2 pp |
| 2012 | 93.7% | GBX171.66 Billion | GBX183.13 Billion | GBX184.84 Billion | GBX13.18 Billion | — |