Home / Business and Economy / Cash Flow Secrets: 3 Companies Outperform
Cash Flow Secrets: 3 Companies Outperform
2 Sep
Summary
- Companies with negative working capital and growth outperform.
- WeWork India, Bharti Hexacom, and TBO Tek analyzed.
- Structural negative working capital aids profitability and expansion.
Negative working capital, when structural and paired with growth, can be a significant financial advantage. WeWork India, Bharti Hexacom, and TBO Tek exemplify this trend, showcasing distinct approaches to optimizing cash cycles.
WeWork India, operating flexible workspaces, reported working capital days at -189 in FY26, with steadily falling debtor days. Despite expansion, revenue surged to Rs 2,440 crore in FY26, supported by rising demand for flexible office spaces.
Bharti Hexacom, a telecom provider, maintains consistent negative working capital, with days at -171 in FY26 and minimal receivables. Its operations generate substantial cash flow, with CFO at Rs 4,464 crore in FY26, enabling investments in 5G and home services.
TBO Tek, an online travel platform, reported -134 working capital days in FY26. Its scalable model allows for transaction volume growth without proportional cost increases, supported by international market expansion and acquisitions.
These companies illustrate that a negative working capital cycle, when integrated with strong growth and profitability, can be a powerful engine for capital efficiency. Investors are advised to look beyond the metric to assess the sustainability and quality of these cash-flow advantages.
