Air France-KLM SA (AF) — Working Capital to Net Assets Ratio
Air France-KLM SA (AF) has a Working Capital to Net Assets ratio of -206.7% as of June 2026. Working capital of €-5.76 Billion (current assets of €11.93 Billion minus current liabilities of €17.69 Billion) is measured against net assets of €2.79 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See AF defensive interval ratio to measure how many days the company can operate on defensive assets alone.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Air France-KLM SA Working Capital to Net Assets (2002–2025)
This chart shows how Air France-KLM SA's Working Capital to Net Assets ratio has evolved across 24 annual periods from 2002 to 2025. As of June 2026, the ratio stands at -206.7%, reflecting working capital of €-5.76 Billion against net assets of €2.79 Billion EUR. For the complete balance sheet picture, see Air France-KLM SA total assets.
Annual Working Capital to Net Assets for Air France-KLM SA (2002–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Air France-KLM SA from 2002 to 2025, covering 24 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 Air France-KLM SA (AF) liquid assets ratio to evaluate the company's liquid asset resilience ratio.
| Year | WC/NA Ratio | Working Capital (EUR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -604.9% | €-6.55 Billion | €1.08 Billion | €10.56 Billion | €17.11 Billion | ▲ +106.7 pp |
| 2024 | -711.6% | €-5.69 Billion | €799.00 Million | €10.59 Billion | €16.27 Billion | ▼ -1429.3 pp |
| 2023 | 717.7% | €-4.13 Billion | €-576.00 Million | €11.81 Billion | €15.95 Billion | ▲ +610.7 pp |
| 2022 | 107.1% | €-2.65 Billion | €-2.48 Billion | €11.01 Billion | €13.66 Billion | ▲ +80.9 pp |
| 2021 | 26.1% | €-997.00 Million | €-3.82 Billion | €10.73 Billion | €11.73 Billion | ▼ -8.6 pp |
| 2020 | 34.8% | €-1.88 Billion | €-5.42 Billion | €9.89 Billion | €11.78 Billion | ▲ +213.5 pp |
| 2019 | -178.8% | €-4.11 Billion | €2.30 Billion | €8.54 Billion | €12.65 Billion | ▲ +63.6 pp |
| 2018 | -242.4% | €-4.52 Billion | €1.86 Billion | €7.80 Billion | €12.32 Billion | ▼ -176.3 pp |
| 2017 | -66.1% | €-1.99 Billion | €3.02 Billion | €9.05 Billion | €11.04 Billion | ▲ +129.4 pp |
| 2016 | -195.5% | €-2.53 Billion | €1.30 Billion | €7.61 Billion | €10.14 Billion | ▲ +1436.0 pp |
| 2015 | -1631.5% | €-4.45 Billion | €273.00 Million | €7.54 Billion | €12.00 Billion | ▼ -2367.4 pp |
| 2014 | 735.9% | €-4.65 Billion | €-632.00 Million | €7.18 Billion | €11.83 Billion | ▲ +863.6 pp |
| 2013 | -127.6% | €-2.92 Billion | €2.29 Billion | €7.94 Billion | €10.86 Billion | ▼ -82.5 pp |
| 2012 | -45.1% | €-2.25 Billion | €4.98 Billion | €7.58 Billion | €9.83 Billion | ▼ -0.2 pp |
| 2011 | -44.9% | €-2.74 Billion | €6.09 Billion | €6.41 Billion | €9.15 Billion | ▼ -18.5 pp |
| 2010 | -26.5% | €-1.83 Billion | €6.91 Billion | €8.54 Billion | €10.37 Billion | ▲ +18.7 pp |
| 2009 | -45.2% | €-2.45 Billion | €5.42 Billion | €8.02 Billion | €10.47 Billion | ▲ +13.6 pp |
| 2008 | -58.8% | €-3.34 Billion | €5.68 Billion | €8.05 Billion | €11.39 Billion | ▼ -67.8 pp |
| 2007 | 9.0% | €957.00 Million | €10.61 Billion | €10.15 Billion | €9.19 Billion | ▲ +5.8 pp |
| 2006 | 3.3% | €274.00 Million | €8.41 Billion | €8.43 Billion | €8.16 Billion | ▼ -1.9 pp |
| 2005 | 5.1% | €402.00 Million | €7.85 Billion | €8.49 Billion | €8.09 Billion | ▼ -26.5 pp |
| 2004 | 31.6% | €1.65 Billion | €5.23 Billion | €7.40 Billion | €5.75 Billion | ▲ +13.2 pp |
| 2003 | 18.4% | €750.00 Million | €4.08 Billion | €4.21 Billion | €3.46 Billion | ▲ +12.2 pp |
| 2002 | 6.2% | €247.43 Million | €4.02 Billion | €3.58 Billion | €3.33 Billion | — |