Common-Size Balance Sheet: Assets
Palo Alto Networks Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-07-31), 10-K (reporting date: 2023-07-31), 10-K (reporting date: 2022-07-31), 10-K (reporting date: 2021-07-31), 10-K (reporting date: 2020-07-31), 10-K (reporting date: 2019-07-31).
- Cash and Cash Equivalents
- There was a notable increase from 14.58% in 2019 to a peak of 32.63% in 2020, followed by a steady decline to 7.68% by 2024, indicating a reduction in liquid assets as a proportion of total assets over the latter years.
- Short-term Investments
- The proportion dropped significantly from 27.94% in 2019 to 8.71% in 2020, then fluctuated slightly, ultimately declining further to 5.22% in 2024, suggesting a decreasing emphasis on short-term investment holdings.
- Accounts Receivable, Net
- This category showed a general upward trend from 8.83% in 2019 to a peak of 17.48% in 2022, followed by a decline to 13.1% in 2024, reflecting an initial increase in credit extended to customers which later moderated.
- Short-term Financing Receivables, Net
- Absent before 2021, this item appeared at 0.77% then increased steadily to 3.63% in 2024, demonstrating growing short-term financing activities.
- Short-term Deferred Contract Costs
- These costs remained relatively stable around 2%-2.7% until 2022, before gradually decreasing to 1.85% in 2024, indicating a slight reduction in deferred expenses associated with contracts.
- Prepaid Expenses and Other Current Assets
- The values were stable around 1.5%-1.7% until 2022, then increased to 3.22% in 2023, followed by a slight decrease to 2.79% in 2024, pointing to some variability in prepaid and other current asset balances.
- Current Assets
- Current assets declined overall from 55.59% in 2019 to 34.26% in 2024, with fluctuations in between; this trend suggests a shift in asset composition away from current assets over time.
- Property and Equipment, Net
- There was a gradual decrease from 4.49% in 2019 to 1.81% in 2024, reflecting potential asset disposals, depreciation, or limited reinvestment in physical assets.
- Operating Lease Right-of-Use Assets
- This item appeared in 2020 at 2.85%, then declined to around 1.93% by 2024, indicating a modest reduction in leased asset commitments.
- Long-term Investments
- The proportion remained relatively stable near 8% until 2022, then increased significantly to 21.02% in 2023 and slightly decreased to 20.88% in 2024, showing an expansion in long-term investment holdings.
- Long-term Financing Receivables, Net
- Starting at 1.9% in 2021, this item grew steadily to 5.91% in 2024, indicating a rising role of long-term financing activities in the asset structure.
- Long-term Deferred Contract Costs
- This category showed a gradual decline from 4.92% in 2019 to 2.81% in 2024, reflecting a decrease in deferred contract-related expenditures over the years.
- Goodwill
- Goodwill peaked at 26.46% in 2021 before declining consistently to 16.76% in 2024, suggesting that intangible acquisition premiums have been written down, disposed of, or revalued downward.
- Intangible Assets, Net
- Intangible assets decreased from 4.26% in 2019 to 1.88% in 2024, indicating amortization or disposals reducing the balance over time.
- Deferred Tax Assets
- Data began appearing in 2023 at 0.16%, then surged to 12% in 2024, signaling a substantial increase in deferred tax asset recognition in the latest period.
- Other Assets
- These assets remained fairly stable between 1.5% and 2.55% throughout the period, indicating little material change.
- Long-term Assets
- Long-term assets rose from 44.41% in 2019 to 65.74% in 2024, reflecting a clear shift in the overall asset composition towards longer-duration assets.
- Total Assets
- The relative proportions of the different asset classes sum to 100% consistently, with a notable structural shift observed from current to long-term assets over the six-year timeframe.