Vodafone Group PLC (VOD) — Working Capital to Net Assets Ratio
Vodafone Group PLC (VOD) has a Working Capital to Net Assets ratio of 5.7% as of March 2026. Working capital of GBX3.13 Billion (current assets of GBX27.14 Billion minus current liabilities of GBX24.02 Billion) is measured against net assets of GBX54.52 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See VOD financial flexibility index to measure the company's free cash flow as a share of total liabilities.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Vodafone Group PLC Working Capital to Net Assets (1987–2026)
This chart shows how Vodafone Group PLC's Working Capital to Net Assets ratio has evolved across 40 annual periods from 1987 to 2026. As of March 2026, the ratio stands at 5.7%, reflecting working capital of GBX3.13 Billion against net assets of GBX54.52 Billion GBX. See Vodafone Group PLC defensive interval ratio to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for Vodafone Group PLC (1987–2026)
The table below presents the year-by-year Working Capital to Net Assets ratio for Vodafone Group PLC from 1987 to 2026, 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 VOD company net worth.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2026 | 5.7% | GBX3.13 Billion | GBX54.52 Billion | GBX27.14 Billion | GBX24.02 Billion | ▼ -5.1 pp |
| 2025 | 10.9% | GBX5.87 Billion | GBX53.92 Billion | GBX28.62 Billion | GBX22.75 Billion | ▼ -4.5 pp |
| 2024 | 15.3% | GBX9.36 Billion | GBX61.00 Billion | GBX39.56 Billion | GBX30.20 Billion | ▲ +21.4 pp |
| 2023 | -6.1% | GBX-3.92 Billion | GBX64.48 Billion | GBX30.66 Billion | GBX34.58 Billion | ▲ +4.6 pp |
| 2022 | -10.6% | GBX-6.07 Billion | GBX57.07 Billion | GBX27.58 Billion | GBX33.65 Billion | ▼ -9.9 pp |
| 2021 | -0.8% | GBX-441.00 Million | GBX57.82 Billion | GBX28.27 Billion | GBX28.71 Billion | ▲ +0.1 pp |
| 2020 | -0.9% | GBX-551.00 Million | GBX62.62 Billion | GBX32.83 Billion | GBX33.38 Billion | ▼ -23.0 pp |
| 2019 | 22.2% | GBX14.06 Billion | GBX63.45 Billion | GBX39.59 Billion | GBX25.52 Billion | ▲ +23.7 pp |
| 2018 | -1.6% | GBX-1.07 Billion | GBX68.61 Billion | GBX37.95 Billion | GBX39.02 Billion | ▼ -2.0 pp |
| 2017 | 0.5% | GBX348.00 Million | GBX73.72 Billion | GBX42.74 Billion | GBX42.39 Billion | ▲ +8.3 pp |
| 2016 | -7.8% | GBX-6.66 Billion | GBX85.36 Billion | GBX35.69 Billion | GBX42.35 Billion | ▲ +5.6 pp |
| 2015 | -13.4% | GBX-12.38 Billion | GBX92.62 Billion | GBX27.14 Billion | GBX39.51 Billion | ▼ -12.9 pp |
| 2014 | -0.4% | GBX-383.47 Million | GBX86.83 Billion | GBX29.91 Billion | GBX30.29 Billion | ▲ +10.5 pp |
| 2013 | -10.9% | GBX-9.42 Billion | GBX86.00 Billion | GBX27.63 Billion | GBX37.05 Billion | ▼ -5.8 pp |
| 2012 | -5.1% | GBX-4.80 Billion | GBX93.85 Billion | GBX24.03 Billion | GBX28.83 Billion | ▲ +6.4 pp |
| 2011 | -11.5% | GBX-11.46 Billion | GBX99.66 Billion | GBX19.35 Billion | GBX30.82 Billion | ▲ +4.4 pp |
| 2010 | -15.9% | GBX-16.16 Billion | GBX101.94 Billion | GBX15.96 Billion | GBX32.12 Billion | ▲ +1.7 pp |
| 2009 | -17.6% | GBX-16.11 Billion | GBX91.54 Billion | GBX14.07 Billion | GBX30.18 Billion | ▼ -0.3 pp |
| 2008 | -17.3% | GBX-16.65 Billion | GBX96.08 Billion | GBX10.96 Billion | GBX27.61 Billion | ▼ -8.2 pp |
| 2007 | -9.1% | GBX-9.04 Billion | GBX99.14 Billion | GBX18.88 Billion | GBX27.91 Billion | ▼ -9.2 pp |
| 2006 | 0.1% | GBX98.94 Million | GBX122.33 Billion | GBX25.99 Billion | GBX25.89 Billion | ▲ +4.7 pp |
| 2005 | -4.6% | GBX-7.59 Billion | GBX165.68 Billion | GBX13.72 Billion | GBX21.31 Billion | ▼ -2.9 pp |
| 2004 | -1.6% | GBX-2.81 Billion | GBX172.18 Billion | GBX19.70 Billion | GBX22.51 Billion | ▲ +2.7 pp |
| 2003 | -4.3% | GBX-8.26 Billion | GBX190.61 Billion | GBX12.45 Billion | GBX20.71 Billion | ▼ -1.3 pp |
| 2002 | -3.0% | GBX-6.58 Billion | GBX218.19 Billion | GBX15.43 Billion | GBX22.00 Billion | ▼ -7.0 pp |
| 2001 | 3.9% | GBX9.39 Billion | GBX238.49 Billion | GBX29.41 Billion | GBX20.02 Billion | ▲ +5.3 pp |
| 2000 | -1.4% | GBX-3.21 Billion | GBX237.32 Billion | GBX4.20 Billion | GBX7.40 Billion | ▲ +78.5 pp |
| 1999 | -79.9% | GBX-1.10 Billion | GBX1.38 Billion | GBX1.18 Billion | GBX2.29 Billion | ▲ +140.3 pp |
| 1998 | -220.2% | GBX-1.30 Billion | GBX589.34 Million | GBX917.47 Million | GBX2.22 Billion | ▼ -157.7 pp |
| 1997 | -62.5% | GBX-731.36 Million | GBX1.17 Billion | GBX699.17 Million | GBX1.43 Billion | ▼ -38.9 pp |
| 1996 | -23.6% | GBX-294.03 Million | GBX1.24 Billion | GBX414.68 Million | GBX708.71 Million | ▼ -7.2 pp |
| 1995 | -16.4% | GBX-164.06 Million | GBX997.80 Million | GBX375.70 Million | GBX539.76 Million | ▼ -18.5 pp |
| 1994 | 2.1% | GBX18.56 Million | GBX899.69 Million | GBX430.77 Million | GBX412.22 Million | ▼ -9.5 pp |
| 1993 | 11.5% | GBX85.74 Million | GBX742.57 Million | GBX381.23 Million | GBX295.49 Million | ▲ +7.5 pp |
| 1992 | 4.0% | GBX25.58 Million | GBX632.25 Million | GBX305.57 Million | GBX279.99 Million | ▲ +8.0 pp |
| 1991 | -4.0% | GBX-24.16 Million | GBX603.35 Million | GBX258.38 Million | GBX282.54 Million | ▲ +23.7 pp |
| 1990 | -27.7% | GBX-101.67 Million | GBX366.80 Million | GBX147.79 Million | GBX249.46 Million | ▼ -13.1 pp |
| 1989 | -14.6% | GBX-40.54 Million | GBX277.09 Million | GBX127.11 Million | GBX167.66 Million | ▲ +2.8 pp |
| 1988 | -17.4% | GBX-8.29 Million | GBX47.67 Million | GBX94.29 Million | GBX102.59 Million | ▼ -11.6 pp |
| 1987 | -5.8% | GBX-1.92 Million | GBX32.83 Million | GBX88.99 Million | GBX90.91 Million | — |