Formula (FORTY) — Working Capital to Net Assets Ratio
Formula (FORTY) has a Working Capital to Net Assets ratio of 46.4% as of December 2025. Working capital of ILA835.43 Million (current assets of ILA2.17 Billion minus current liabilities of ILA1.33 Billion) is measured against net assets of ILA1.80 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. See Formula (FORTY) balance sheet quality index to measure how much of total assets are equity-financed.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Formula Working Capital to Net Assets (1998–2025)
This chart shows how Formula'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 46.4%, reflecting working capital of ILA835.43 Million against net assets of ILA1.80 Billion ILA. Check FORTY goodwill-adjusted equity ratio to evaluate the tangible quality of the company's equity base.
Annual Working Capital to Net Assets for Formula (1998–2025)
The table below presents the year-by-year Working Capital to Net Assets ratio for Formula 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 Formula stock valuation.
| Year | WC/NA Ratio | Working Capital (ILA) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | 46.4% | ILA835.43 Million | ILA1.80 Billion | ILA2.17 Billion | ILA1.33 Billion | ▲ +21.4 pp |
| 2024 | 25.1% | ILA348.57 Million | ILA1.39 Billion | ILA1.49 Billion | ILA1.14 Billion | ▼ -4.7 pp |
| 2023 | 29.8% | ILA390.19 Million | ILA1.31 Billion | ILA1.38 Billion | ILA985.66 Million | ▼ -1.6 pp |
| 2022 | 31.4% | ILA370.13 Million | ILA1.18 Billion | ILA1.37 Billion | ILA1.00 Billion | ▲ +1.2 pp |
| 2021 | 30.2% | ILA356.54 Million | ILA1.18 Billion | ILA1.30 Billion | ILA944.69 Million | ▼ -4.2 pp |
| 2020 | 34.4% | ILA381.09 Million | ILA1.11 Billion | ILA1.16 Billion | ILA779.80 Million | ▲ +1.6 pp |
| 2019 | 32.9% | ILA294.49 Million | ILA896.33 Million | ILA965.78 Million | ILA671.29 Million | ▲ +1.2 pp |
| 2018 | 31.7% | ILA254.97 Million | ILA805.14 Million | ILA780.95 Million | ILA525.99 Million | ▼ -5.1 pp |
| 2017 | 36.8% | ILA284.51 Million | ILA772.92 Million | ILA694.51 Million | ILA409.99 Million | ▼ -1.1 pp |
| 2016 | 37.9% | ILA274.49 Million | ILA723.85 Million | ILA634.01 Million | ILA359.51 Million | ▲ +8.3 pp |
| 2015 | 29.6% | ILA198.82 Million | ILA671.29 Million | ILA454.57 Million | ILA255.75 Million | ▲ +9.8 pp |
| 2014 | 19.8% | ILA128.72 Million | ILA648.79 Million | ILA360.39 Million | ILA231.67 Million | ▼ -4.9 pp |
| 2013 | 24.8% | ILA119.59 Million | ILA482.92 Million | ILA338.91 Million | ILA219.32 Million | ▼ -6.4 pp |
| 2012 | 31.1% | ILA145.87 Million | ILA468.50 Million | ILA369.00 Million | ILA223.13 Million | ▼ -3.7 pp |
| 2011 | 34.8% | ILA127.43 Million | ILA366.29 Million | ILA306.99 Million | ILA179.56 Million | ▼ -11.2 pp |
| 2010 | 46.0% | ILA153.82 Million | ILA334.38 Million | ILA331.81 Million | ILA177.99 Million | ▼ -6.0 pp |
| 2009 | 52.0% | ILA153.46 Million | ILA295.31 Million | ILA313.38 Million | ILA159.92 Million | ▲ +0.2 pp |
| 2008 | 51.8% | ILA143.65 Million | ILA277.37 Million | ILA333.83 Million | ILA190.19 Million | ▼ -19.6 pp |
| 2007 | 71.4% | ILA218.59 Million | ILA306.30 Million | ILA379.24 Million | ILA160.65 Million | ▲ +24.5 pp |
| 2006 | 46.9% | ILA125.86 Million | ILA268.43 Million | ILA304.06 Million | ILA178.19 Million | ▲ +33.3 pp |
| 2005 | 13.6% | ILA36.89 Million | ILA272.13 Million | ILA279.92 Million | ILA243.03 Million | ▲ +4.9 pp |
| 2004 | 8.7% | ILA24.59 Million | ILA283.36 Million | ILA291.55 Million | ILA266.96 Million | ▼ -4.7 pp |
| 2003 | 13.4% | ILA32.71 Million | ILA244.25 Million | ILA217.01 Million | ILA184.30 Million | ▲ +6.2 pp |
| 2002 | 7.2% | ILA16.14 Million | ILA225.48 Million | ILA193.54 Million | ILA177.40 Million | ▼ -9.9 pp |
| 2001 | 17.0% | ILA45.40 Million | ILA266.69 Million | ILA211.18 Million | ILA165.78 Million | ▼ -31.1 pp |
| 2000 | 48.1% | ILA188.79 Million | ILA392.54 Million | ILA326.36 Million | ILA137.57 Million | ▼ -16.1 pp |
| 1999 | 64.2% | ILA195.42 Million | ILA304.56 Million | ILA323.78 Million | ILA128.36 Million | ▼ -2.0 pp |
| 1998 | 66.1% | ILA156.50 Million | ILA236.60 Million | ILA256.30 Million | ILA99.80 Million | — |