AXA SA (CS) — Working Capital to Net Assets Ratio
AXA SA (CS) has a Working Capital to Net Assets ratio of -876.6% as of December 2025. Working capital of €-433.91 Billion (current assets of €46.10 Billion minus current liabilities of €480.01 Billion) is measured against net assets of €49.50 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. For the complete balance sheet picture, see CS current and non-current assets.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
AXA SA Working Capital to Net Assets (1997–2025)
This chart shows how AXA SA's Working Capital to Net Assets ratio has evolved across 24 annual periods from 1997 to 2025. As of December 2025, the ratio stands at -876.6%, reflecting working capital of €-433.91 Billion against net assets of €49.50 Billion EUR. Explore CS capital expenditure intensity to see what proportion of operating cash flow is directed to capital expenditures.
Annual Working Capital to Net Assets for AXA SA (1997–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for AXA SA from 1997 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. Explore AXA SA long-term investment allocation to see how much of total assets are deployed in long-term investments.
| Year | WC/NA Ratio | Working Capital (EUR) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -876.6% | €-433.91 Billion | €49.50 Billion | €46.10 Billion | €480.01 Billion | ▼ -1567.3 pp |
| 2024 | 690.7% | €329.33 Billion | €47.68 Billion | €343.47 Billion | €14.14 Billion | ▲ +756.7 pp |
| 2023 | -65.9% | €-34.55 Billion | €52.40 Billion | €24.97 Billion | €59.52 Billion | ▼ -731.1 pp |
| 2022 | 665.2% | €321.79 Billion | €48.38 Billion | €323.68 Billion | €1.89 Billion | ▲ +635.1 pp |
| 2021 | 30.1% | €24.96 Billion | €82.98 Billion | €25.05 Billion | €93.00 Million | ▼ -2.9 pp |
| 2020 | 33.0% | €28.16 Billion | €85.40 Billion | €28.24 Billion | €81.00 Million | ▲ +5.9 pp |
| 2019 | 27.1% | €22.55 Billion | €83.22 Billion | €22.66 Billion | €102.00 Million | ▼ -553.4 pp |
| 2018 | 580.5% | €425.25 Billion | €73.25 Billion | €448.53 Billion | €23.28 Billion | ▲ +552.2 pp |
| 2017 | 28.3% | €23.80 Billion | €84.02 Billion | €23.90 Billion | €98.00 Million | ▼ -1.7 pp |
| 2016 | 30.0% | €26.25 Billion | €87.38 Billion | €26.31 Billion | €66.00 Million | ▼ -1.5 pp |
| 2015 | 31.5% | €26.21 Billion | €83.17 Billion | €26.27 Billion | €61.00 Million | ▲ +3.5 pp |
| 2014 | 28.0% | €21.89 Billion | €78.28 Billion | €22.05 Billion | €154.00 Million | ▼ -5.7 pp |
| 2013 | 33.7% | €21.28 Billion | €63.24 Billion | €21.45 Billion | €174.00 Million | ▼ -529.8 pp |
| 2012 | 563.5% | €315.65 Billion | €56.02 Billion | €408.71 Billion | €93.06 Billion | ▲ +638.7 pp |
| 2011 | -75.2% | €-38.32 Billion | €50.93 Billion | €31.07 Billion | €69.39 Billion | ▲ +70.8 pp |
| 2010 | -146.0% | €-78.64 Billion | €53.87 Billion | €22.07 Billion | €100.71 Billion | ▼ -203.1 pp |
| 2004 | 57.1% | €16.19 Billion | €28.36 Billion | €21.36 Billion | €5.17 Billion | ▼ -3.1 pp |
| 2003 | 60.2% | €15.58 Billion | €25.87 Billion | €19.43 Billion | €3.85 Billion | ▲ +12.8 pp |
| 2002 | 47.4% | €12.57 Billion | €26.52 Billion | €17.59 Billion | €5.02 Billion | ▲ +8.3 pp |
| 2001 | 39.1% | €11.04 Billion | €28.19 Billion | €17.65 Billion | €6.61 Billion | ▼ -30.1 pp |
| 2000 | 69.2% | €19.40 Billion | €28.02 Billion | €26.07 Billion | €6.67 Billion | ▼ -1958.5 pp |
| 1999 | 2027.7% | €486.16 Billion | €23.98 Billion | €495.22 Billion | €9.05 Billion | ▼ -737.9 pp |
| 1998 | 2765.6% | €288.37 Billion | €10.43 Billion | €292.52 Billion | €4.15 Billion | ▼ -122.6 pp |
| 1997 | 2888.2% | €348.07 Billion | €12.05 Billion | €352.26 Billion | €4.18 Billion | — |