Unilever PLC (ULVR) — Working Capital to Net Assets Ratio
Unilever PLC (ULVR) has a Working Capital to Net Assets ratio of -26.1% as of December 2025. Working capital of GBX-4.60 Billion (current assets of GBX17.09 Billion minus current liabilities of GBX21.69 Billion) is measured against net assets of GBX17.61 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Unilever PLC balance sheet quality to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Unilever PLC Working Capital to Net Assets (1985–2025)
This chart shows how Unilever PLC's Working Capital to Net Assets ratio has evolved across 41 annual periods from 1985 to 2025. As of December 2025, the ratio stands at -26.1%, reflecting working capital of GBX-4.60 Billion against net assets of GBX17.61 Billion GBX. Check ULVR tangible net assets ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Unilever PLC (1985–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Unilever PLC from 1985 to 2025, covering 41 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 Unilever PLC (ULVR) market capitalisation.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -26.1% | GBX-4.60 Billion | GBX17.61 Billion | GBX17.09 Billion | GBX21.69 Billion | ▲ +0.6 pp |
| 2024 | -26.8% | GBX-6.04 Billion | GBX22.55 Billion | GBX19.19 Billion | GBX25.23 Billion | ▲ +0.2 pp |
| 2023 | -27.0% | GBX-5.61 Billion | GBX20.76 Billion | GBX17.90 Billion | GBX23.51 Billion | ▲ +1.9 pp |
| 2022 | -28.9% | GBX-6.27 Billion | GBX21.70 Billion | GBX19.16 Billion | GBX25.43 Billion | ▲ +8.5 pp |
| 2021 | -37.4% | GBX-7.38 Billion | GBX19.75 Billion | GBX17.40 Billion | GBX24.78 Billion | ▼ -12.2 pp |
| 2020 | -25.1% | GBX-4.43 Billion | GBX17.66 Billion | GBX16.16 Billion | GBX20.59 Billion | ▲ +7.6 pp |
| 2019 | -32.8% | GBX-4.55 Billion | GBX13.89 Billion | GBX16.43 Billion | GBX20.98 Billion | ▲ +2.2 pp |
| 2018 | -34.9% | GBX-4.29 Billion | GBX12.29 Billion | GBX15.48 Billion | GBX19.77 Billion | ▲ +8.1 pp |
| 2017 | -43.1% | GBX-6.19 Billion | GBX14.39 Billion | GBX16.98 Billion | GBX23.18 Billion | ▼ -3.8 pp |
| 2016 | -39.3% | GBX-6.67 Billion | GBX16.98 Billion | GBX13.88 Billion | GBX20.56 Billion | ▲ +6.3 pp |
| 2015 | -45.6% | GBX-7.33 Billion | GBX16.08 Billion | GBX12.69 Billion | GBX20.02 Billion | ▲ +5.5 pp |
| 2014 | -51.1% | GBX-7.29 Billion | GBX14.26 Billion | GBX12.35 Billion | GBX19.64 Billion | ▼ -15.6 pp |
| 2013 | -35.5% | GBX-5.26 Billion | GBX14.81 Billion | GBX12.12 Billion | GBX17.38 Billion | ▼ -12.2 pp |
| 2012 | -23.3% | GBX-3.67 Billion | GBX15.72 Billion | GBX12.15 Billion | GBX15.81 Billion | ▲ +1.0 pp |
| 2011 | -24.4% | GBX-3.64 Billion | GBX14.92 Billion | GBX14.29 Billion | GBX17.93 Billion | ▼ -16.9 pp |
| 2010 | -7.4% | GBX-1.12 Billion | GBX15.08 Billion | GBX12.48 Billion | GBX13.61 Billion | ▼ -1.2 pp |
| 2009 | -6.3% | GBX-788.00 Million | GBX12.54 Billion | GBX10.81 Billion | GBX11.60 Billion | ▲ +19.0 pp |
| 2008 | -25.3% | GBX-2.62 Billion | GBX10.37 Billion | GBX11.18 Billion | GBX13.80 Billion | ▲ +4.3 pp |
| 2007 | -29.6% | GBX-3.79 Billion | GBX12.82 Billion | GBX9.77 Billion | GBX13.56 Billion | ▲ +8.1 pp |
| 2006 | -37.7% | GBX-4.40 Billion | GBX11.67 Billion | GBX9.49 Billion | GBX13.88 Billion | ▲ +13.3 pp |
| 2005 | -51.0% | GBX-4.47 Billion | GBX8.77 Billion | GBX10.93 Billion | GBX15.39 Billion | ▼ -2.5 pp |
| 2004 | -48.4% | GBX-3.70 Billion | GBX7.63 Billion | GBX10.49 Billion | GBX14.19 Billion | ▼ -97.1 pp |
| 2003 | 48.7% | GBX2.19 Billion | GBX4.50 Billion | GBX9.48 Billion | GBX7.29 Billion | ▲ +5.2 pp |
| 2002 | 43.5% | GBX2.31 Billion | GBX5.31 Billion | GBX13.95 Billion | GBX11.64 Billion | ▲ +150.2 pp |
| 2001 | -106.7% | GBX-8.38 Billion | GBX7.86 Billion | GBX14.83 Billion | GBX23.21 Billion | ▼ -13.5 pp |
| 2000 | -93.2% | GBX-12.92 Billion | GBX13.87 Billion | GBX31.86 Billion | GBX44.78 Billion | ▼ -166.9 pp |
| 1999 | 73.7% | GBX6.14 Billion | GBX8.34 Billion | GBX18.27 Billion | GBX12.13 Billion | ▼ -1.8 pp |
| 1998 | 75.5% | GBX3.89 Billion | GBX5.15 Billion | GBX21.85 Billion | GBX17.96 Billion | ▼ -16.0 pp |
| 1997 | 91.5% | GBX10.63 Billion | GBX11.61 Billion | GBX20.39 Billion | GBX9.76 Billion | ▲ +36.1 pp |
| 1996 | 55.4% | GBX4.21 Billion | GBX7.60 Billion | GBX13.99 Billion | GBX9.79 Billion | ▲ +5.3 pp |
| 1995 | 50.0% | GBX3.60 Billion | GBX7.21 Billion | GBX12.66 Billion | GBX9.06 Billion | ▲ +1.3 pp |
| 1994 | 48.7% | GBX3.35 Billion | GBX6.88 Billion | GBX12.49 Billion | GBX9.14 Billion | ▲ +14.1 pp |
| 1993 | 34.6% | GBX2.27 Billion | GBX6.56 Billion | GBX11.78 Billion | GBX9.51 Billion | ▼ -5.7 pp |
| 1992 | 40.3% | GBX2.56 Billion | GBX6.35 Billion | GBX10.90 Billion | GBX8.34 Billion | ▼ -4.9 pp |
| 1991 | 45.3% | GBX2.47 Billion | GBX5.46 Billion | GBX10.34 Billion | GBX7.87 Billion | ▼ -5.8 pp |
| 1990 | 51.1% | GBX2.37 Billion | GBX4.64 Billion | GBX10.00 Billion | GBX7.63 Billion | ▲ +7.8 pp |
| 1989 | 43.3% | GBX1.82 Billion | GBX4.20 Billion | GBX9.75 Billion | GBX7.93 Billion | ▼ -12.0 pp |
| 1988 | 55.2% | GBX3.04 Billion | GBX5.51 Billion | GBX10.19 Billion | GBX7.15 Billion | ▼ -5.7 pp |
| 1987 | 61.0% | GBX3.01 Billion | GBX4.95 Billion | GBX8.51 Billion | GBX5.50 Billion | ▲ +41.6 pp |
| 1986 | 19.4% | GBX1.04 Billion | GBX5.36 Billion | GBX11.12 Billion | GBX10.08 Billion | ▼ -44.2 pp |
| 1985 | 63.6% | GBX3.67 Billion | GBX5.76 Billion | GBX9.68 Billion | GBX6.02 Billion | — |