American Axle & Manufacturing (AXL) — Working Capital to Net Assets Ratio
American Axle & Manufacturing (AXL) has a Working Capital to Net Assets ratio of 375.2% as of December 2025. Working capital of $2.40 Billion (current assets of $3.63 Billion minus current liabilities of $1.23 Billion) is measured against net assets of $640.00 Million. A higher ratio indicates strong short-term liquidity financed by the equity base. See American Axle & Manufacturing 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
American Axle & Manufacturing Working Capital to Net Assets (1998–2025)
This chart shows how American Axle & Manufacturing's Working Capital to Net Assets ratio has evolved across 28 annual periods from 1998 to 2025. As of December 2025, the ratio stands at 375.2%, reflecting working capital of $2.40 Billion against net assets of $640.00 Million USD. See defensive interval ratio of American Axle & Manufacturing to measure how many days the company can operate on defensive assets alone.
Annual Working Capital to Net Assets for American Axle & Manufacturing (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for American Axle & Manufacturing from 1998 to 2025, covering 28 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 AXL company net worth.
| Year | WC/NA Ratio | Working Capital (USD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 375.2% | $2.40 Billion | $640.00 Million | $3.63 Billion | $1.23 Billion | ▲ +243.7 pp |
| 2024 | 131.4% | $739.60 Million | $562.80 Million | $1.91 Billion | $1.18 Billion | ▼ -1.7 pp |
| 2023 | 133.1% | $805.00 Million | $604.90 Million | $2.01 Billion | $1.20 Billion | ▲ +6.5 pp |
| 2022 | 126.6% | $794.10 Million | $627.30 Million | $1.99 Billion | $1.20 Billion | ▼ -51.7 pp |
| 2021 | 178.3% | $816.10 Million | $457.80 Million | $1.86 Billion | $1.04 Billion | ▼ -62.3 pp |
| 2020 | 240.5% | $897.70 Million | $373.20 Million | $1.88 Billion | $979.30 Million | ▲ +155.7 pp |
| 2019 | 84.8% | $831.40 Million | $980.40 Million | $1.86 Billion | $1.03 Billion | ▲ +39.5 pp |
| 2018 | 45.3% | $673.00 Million | $1.49 Billion | $2.03 Billion | $1.36 Billion | ▼ -2.0 pp |
| 2017 | 47.3% | $728.60 Million | $1.54 Billion | $1.95 Billion | $1.22 Billion | ▼ -81.9 pp |
| 2016 | 129.2% | $685.00 Million | $530.00 Million | $1.34 Billion | $651.50 Million | ▼ -11.7 pp |
| 2015 | 141.0% | $425.00 Million | $301.50 Million | $1.12 Billion | $699.20 Million | ▼ -257.9 pp |
| 2014 | 398.9% | $452.30 Million | $113.40 Million | $1.14 Billion | $687.20 Million | ▼ -585.4 pp |
| 2013 | 984.2% | $330.70 Million | $33.60 Million | $997.80 Million | $667.10 Million | ▲ +1208.8 pp |
| 2012 | -224.6% | $271.30 Million | $-120.80 Million | $872.10 Million | $600.80 Million | ▼ -180.0 pp |
| 2011 | -44.6% | $187.00 Million | $-419.60 Million | $763.10 Million | $576.10 Million | ▼ -37.0 pp |
| 2010 | -7.5% | $35.20 Million | $-468.10 Million | $602.10 Million | $566.90 Million | ▲ +5.2 pp |
| 2009 | -12.7% | $71.10 Million | $-559.90 Million | $516.60 Million | $445.50 Million | ▲ +28.1 pp |
| 2008 | -40.8% | $177.60 Million | $-435.70 Million | $695.30 Million | $517.70 Million | ▼ -88.3 pp |
| 2007 | 47.5% | $423.00 Million | $890.70 Million | $934.60 Million | $511.60 Million | ▲ +35.4 pp |
| 2006 | 12.1% | $98.10 Million | $813.70 Million | $639.40 Million | $541.30 Million | ▲ +6.8 pp |
| 2005 | 5.2% | $52.20 Million | $994.80 Million | $601.40 Million | $549.20 Million | ▲ +4.5 pp |
| 2004 | 0.7% | $7.00 Million | $955.50 Million | $592.60 Million | $585.60 Million | ▼ -0.3 pp |
| 2003 | 1.0% | $9.50 Million | $954.70 Million | $563.70 Million | $554.20 Million | ▼ -3.4 pp |
| 2002 | 4.4% | $30.90 Million | $703.60 Million | $566.10 Million | $535.20 Million | ▲ +4.2 pp |
| 2001 | 0.2% | $1.00 Million | $534.70 Million | $478.00 Million | $477.00 Million | ▲ +2.8 pp |
| 2000 | -2.6% | $-9.70 Million | $372.00 Million | $500.60 Million | $510.30 Million | ▼ -26.4 pp |
| 1999 | 23.8% | $62.80 Million | $263.70 Million | $509.50 Million | $446.70 Million | ▲ +193.9 pp |
| 1998 | -170.1% | $-68.90 Million | $40.50 Million | $294.00 Million | $362.90 Million | — |