Vodafone Group PLC (VOD) — Working Capital to Net Assets Ratio
Vodafone Group PLC (VOD) has a Working Capital to Net Assets ratio of 6.4% as of September 2025. Working capital of GBX3.60 Billion (current assets of GBX25.30 Billion minus current liabilities of GBX21.70 Billion) is measured against net assets of GBX56.61 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Vodafone Group PLC net asset quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Vodafone Group PLC Working Capital to Net Assets (1987–2025)
This chart shows how Vodafone Group PLC's Working Capital to Net Assets ratio has evolved across 39 annual periods from 1987 to 2025. As of September 2025, the ratio stands at 6.4%, reflecting working capital of GBX3.60 Billion against net assets of GBX56.61 Billion GBX. Check VOD intangible-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Vodafone Group PLC (1987–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Vodafone Group PLC from 1987 to 2025, covering 39 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 market cap of Vodafone Group PLC.
| Year | WC/NA Ratio | Working Capital (GBX) | Net Assets | Current Assets | Current Liabilities | Change (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 | — |