Air Canada Working Capital to Net Assets Ratio
Air Canada working capital to net assets ratio. Air Canada (AC) has a Working Capital to Net Assets ratio of -230.3% as of March 2026. Working capital of CA$-6.26 Billion (current assets of CA$9.37 Billion minus current liabilities of CA$15.64 Billion) is measured against net assets of CA$2.72 Billion. A higher ratio indicates strong short-term liquidity financed by the equity base. Check Air Canada tangible equity quality to evaluate the tangible quality of the company's equity base.
WC/NA Ratio
Working Capital
Current Assets
Current Liabilities
Working Capital to Net Assets Ratio of Air Canada (2001–2025)
Working capital to net assets ratio of Air Canada from 2001 to 2025. This chart shows how Air Canada's Working Capital to Net Assets ratio has evolved across 24 annual periods from 2001 to 2025. As of March 2026, the ratio stands at -230.3%, reflecting working capital of CA$-6.26 Billion against net assets of CA$2.72 Billion CAD. See Air Canada defensive liquidity buffer to measure how many days the company can operate on defensive assets alone.
Air Canada Working Capital to Net Assets Ratio by Year (2001–2025)
Air Canada working capital to net assets ratio by year from 2001 to 2025. The table below presents the year-by-year Working Capital to Net Assets ratio for Air Canada from 2001 to 2025, covering 24 annual filings. Each row shows current assets, current liabilities, working capital, net assets, the ratio, and the change in percentage points compared to the prior year. For the complete balance sheet picture, see Air Canada asset portfolio.
| Year | WC/NA Ratio | Working Capital (CAD) | Net Assets | Current Assets | Current Liabilities | Change (pp) |
|---|---|---|---|---|---|---|
| 2025 | -240.0% | CA$-6.22 Billion | CA$2.59 Billion | CA$7.92 Billion | CA$14.13 Billion | ▼ -140.1 pp |
| 2024 | -99.9% | CA$-2.39 Billion | CA$2.39 Billion | CA$9.06 Billion | CA$11.45 Billion | ▼ -132.7 pp |
| 2023 | 32.8% | CA$261.00 Million | CA$796.00 Million | CA$10.26 Billion | CA$10.00 Billion | ▲ +52.9 pp |
| 2022 | -20.1% | CA$312.00 Million | CA$-1.55 Billion | CA$9.66 Billion | CA$9.35 Billion | ▼ -34786.7 pp |
| 2021 | 34766.7% | CA$3.13 Billion | CA$9.00 Million | CA$10.05 Billion | CA$6.92 Billion | ▲ +34677.3 pp |
| 2020 | 89.3% | CA$1.53 Billion | CA$1.72 Billion | CA$8.67 Billion | CA$7.14 Billion | ▲ +95.2 pp |
| 2019 | -5.9% | CA$-259.00 Million | CA$4.40 Billion | CA$7.52 Billion | CA$7.78 Billion | ▼ -35.7 pp |
| 2018 | 29.8% | CA$1.20 Billion | CA$4.03 Billion | CA$6.30 Billion | CA$5.10 Billion | ▲ +24.1 pp |
| 2017 | 5.7% | CA$196.00 Million | CA$3.42 Billion | CA$5.30 Billion | CA$5.10 Billion | ▲ +12.0 pp |
| 2016 | -6.3% | CA$-77.00 Million | CA$1.22 Billion | CA$4.35 Billion | CA$4.42 Billion | ▼ -746.3 pp |
| 2015 | 740.0% | CA$296.00 Million | CA$40.00 Million | CA$4.12 Billion | CA$3.83 Billion | ▲ +734.8 pp |
| 2014 | 5.2% | CA$-59.00 Million | CA$-1.13 Billion | CA$3.48 Billion | CA$3.54 Billion | ▲ +12.2 pp |
| 2013 | -7.0% | CA$98.00 Million | CA$-1.40 Billion | CA$3.29 Billion | CA$3.19 Billion | ▼ -13.1 pp |
| 2012 | 6.1% | CA$-205.00 Million | CA$-3.35 Billion | CA$3.05 Billion | CA$3.26 Billion | ▲ +10.5 pp |
| 2011 | -4.3% | CA$174.00 Million | CA$-4.01 Billion | CA$3.33 Billion | CA$3.15 Billion | ▲ +20.6 pp |
| 2010 | -24.9% | CA$321.00 Million | CA$-1.29 Billion | CA$3.44 Billion | CA$3.12 Billion | ▼ -3.6 pp |
| 2009 | -21.3% | CA$-351.00 Million | CA$1.65 Billion | CA$2.65 Billion | CA$3.00 Billion | ▲ +131.3 pp |
| 2008 | -152.6% | CA$-1.45 Billion | CA$952.00 Million | CA$2.40 Billion | CA$3.86 Billion | ▼ -134.4 pp |
| 2007 | -18.2% | CA$-478.00 Million | CA$2.63 Billion | CA$2.48 Billion | CA$2.96 Billion | ▼ -33.9 pp |
| 2006 | 15.7% | CA$349.00 Million | CA$2.23 Billion | CA$4.19 Billion | CA$3.85 Billion | ▲ +36.0 pp |
| 2005 | -20.4% | CA$-275.00 Million | CA$1.35 Billion | CA$2.38 Billion | CA$2.66 Billion | ▼ -37.0 pp |
| 2003 | 16.6% | CA$-691.00 Million | CA$-4.16 Billion | CA$1.71 Billion | CA$2.40 Billion | ▼ -19.3 pp |
| 2002 | 35.9% | CA$-821.00 Million | CA$-2.29 Billion | CA$1.77 Billion | CA$2.59 Billion | ▼ -7.5 pp |
| 2001 | 43.4% | CA$-634.00 Million | CA$-1.46 Billion | CA$2.23 Billion | CA$2.87 Billion | — |