WH Smith PLC (SMWH) — Working Capital to Net Assets Ratio
WH Smith PLC (SMWH) has a Working Capital to Net Assets ratio of -361.5% as of February 2026. Working capital of GBX-582.00 Million (current assets of GBX284.00 Million minus current liabilities of GBX866.00 Million) is measured against net assets of GBX161.00 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See WH Smith PLC liquidity coverage in days to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
WH Smith PLC Working Capital to Net Assets (2005–2025)
This chart shows how WH Smith PLC's Working Capital to Net Assets ratio has evolved across 21 annual periods from 2005 to 2025. As of February 2026, the ratio stands at -361.5%, reflecting working capital of GBX-582.00 Million against net assets of GBX161.00 Million GBX. For the complete balance sheet picture, see SMWH total asset value.
Annual Working Capital to Net Assets for WH Smith PLC (2005–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for WH Smith PLC from 2005 to 2025, covering 21 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 WH Smith PLC (SMWH) liquid assets 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 | -280.3% | GBX-527.00 Million | GBX188.00 Million | GBX344.00 Million | GBX871.00 Million | ▼ -260.6 pp |
| 2024 | -19.7% | GBX-88.00 Million | GBX446.00 Million | GBX511.00 Million | GBX599.00 Million | ▲ +29.1 pp |
| 2023 | -48.8% | GBX-166.00 Million | GBX340.00 Million | GBX377.00 Million | GBX543.00 Million | ▼ -12.3 pp |
| 2022 | -36.5% | GBX-99.00 Million | GBX271.00 Million | GBX418.00 Million | GBX517.00 Million | ▲ +9.6 pp |
| 2021 | -46.2% | GBX-66.00 Million | GBX143.00 Million | GBX310.00 Million | GBX376.00 Million | ▼ -18.8 pp |
| 2020 | -27.3% | GBX-62.00 Million | GBX227.00 Million | GBX315.00 Million | GBX377.00 Million | ▼ -35.3 pp |
| 2019 | 8.0% | GBX19.00 Million | GBX237.00 Million | GBX298.00 Million | GBX279.00 Million | ▲ +20.8 pp |
| 2018 | -12.7% | GBX-27.00 Million | GBX212.00 Million | GBX260.00 Million | GBX287.00 Million | ▲ +3.3 pp |
| 2017 | -16.0% | GBX-30.00 Million | GBX187.00 Million | GBX242.00 Million | GBX272.00 Million | ▲ +3.0 pp |
| 2016 | -19.0% | GBX-32.00 Million | GBX168.00 Million | GBX236.00 Million | GBX268.00 Million | ▲ +14.3 pp |
| 2015 | -33.3% | GBX-49.00 Million | GBX147.00 Million | GBX230.00 Million | GBX279.00 Million | ▲ +25.1 pp |
| 2014 | -58.4% | GBX-59.00 Million | GBX101.00 Million | GBX235.00 Million | GBX294.00 Million | ▼ -4.5 pp |
| 2013 | -53.9% | GBX-55.00 Million | GBX102.00 Million | GBX233.00 Million | GBX288.00 Million | ▼ -21.0 pp |
| 2012 | -32.9% | GBX-49.00 Million | GBX149.00 Million | GBX246.00 Million | GBX295.00 Million | ▼ -10.5 pp |
| 2011 | -22.4% | GBX-35.00 Million | GBX156.00 Million | GBX259.00 Million | GBX294.00 Million | ▼ -14.4 pp |
| 2010 | -8.1% | GBX-15.00 Million | GBX186.00 Million | GBX285.00 Million | GBX300.00 Million | ▲ +2.0 pp |
| 2009 | -10.1% | GBX-19.00 Million | GBX188.00 Million | GBX262.00 Million | GBX281.00 Million | ▲ +28.4 pp |
| 2008 | -38.5% | GBX-62.00 Million | GBX161.00 Million | GBX241.00 Million | GBX303.00 Million | ▼ -49.5 pp |
| 2007 | 11.0% | GBX25.00 Million | GBX227.00 Million | GBX286.00 Million | GBX261.00 Million | ▼ -2.7 pp |
| 2006 | 13.7% | GBX23.00 Million | GBX168.00 Million | GBX278.00 Million | GBX255.00 Million | ▲ +46.1 pp |
| 2005 | -32.4% | GBX-34.00 Million | GBX105.00 Million | GBX262.00 Million | GBX296.00 Million | — |