Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Balance Sheet: Assets
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2019
- Return on Assets (ROA) since 2019
- Price to Earnings (P/E) since 2019
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Shockwave Medical Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).
- Accounts Payable
- The proportion of accounts payable relative to total liabilities and stockholders’ equity has fluctuated over the analyzed quarters, generally remaining below 2.5%. It peaked early in the period around March 2019 at 2.52% and later showed a downward trend until mid-2020. Subsequently, the metric exhibited volatility with lower values towards the end of 2023 and early 2024, indicating variations in short-term obligations to suppliers or creditors.
- Current Portion of Debt
- This liability showed an inconsistent pattern with several missing data points. Generally, it remained under 5% until 2021, followed by a noticeable spike to over 10% during late 2022 and early 2023. The absence of data in the latest quarters prevents definitive conclusions, but the increased ratio at the end suggests a higher short-term debt burden during that period.
- Accrued Liabilities
- Accrued liabilities as a percentage of total liabilities and equity increased steadily from about 4% in early 2019, peaking above 11% in late 2021. After this peak, a decline ensued through 2023, reducing to approximately 4.8% by the first quarter of 2024. This trend indicates fluctuations in expenses recognized but not yet paid, with a notable accumulation period followed by reduction.
- Operating Lease Liability (Current and Noncurrent)
- Current portion of operating lease liability remained fairly stable at low levels, generally below 0.6%, with slight decreases towards recent periods. The noncurrent portion showed a rise from below 1.5% in early 2019 to around 8.7% in early 2022, followed by a decline to near 2.5% by early 2024. The shift suggests a reduction in long-term lease obligations possibly due to lease terminations or reclassifications.
- Current Liabilities
- Current liabilities experienced notable volatility, initially rising sharply from below 10% to over 14% by late 2019. The ratio dipped mid-2020, then recovered to peak near 15.9% in mid-2022 before dropping sharply to around 5.3%-6.6% through late 2023 and early 2024, indicating changing short-term financial obligations with recent decreases likely reflecting improved liquidity or debt management.
- Convertible Debt, Noncurrent Portion
- This item was reported only in the last three quarters, with values around 44.6% to 49.6%, indicating a significant component of long-term liabilities at these dates. The gradual reduction suggests partial repayments or conversions reducing outstanding convertible debt liabilities.
- Noncurrent Debt
- Noncurrent debt started at 7.5% in early 2019 and demonstrated a general downward trend to below 2.5% by early 2022. Fluctuations occurred subsequently but recent data indicates lower levels or absence of this debt category, suggesting a deliberate reduction or refinancing away from traditional long-term debt.
- Related Party Contract Liability, Noncurrent Portion
- Introduced in late 2020 at 4.56%, this liability steadily decreased across quarters to below 1% by the end of the available data, indicating decreasing obligations to related parties over time.
- Deferred Tax and Other Long-Term Liabilities
- Deferred tax liabilities appeared only in the recent quarters at minimal levels under 1.5%, and other long-term liabilities also remained low and decreasing slightly, reflecting relatively minor impact on total liabilities.
- Noncurrent Liabilities
- Noncurrent liabilities fluctuated between roughly 6.5% and 15.1% until 2022, after which they rose sharply to approximately 54%-54% levels in the last three reported quarters. This dramatic increase corresponds with the recognition of large convertible debts, reflecting a major shift in long-term financial structure.
- Total Liabilities
- Total liabilities as a share of total capital structure varied between about 15% and 30% until 2022, escalating significantly to over 54%-59% in the latest periods. This increase is aligned with growth in convertible and noncurrent liabilities, indicating enhanced leverage or refinancing strategies.
- Stockholders’ Equity Components
- Common stock remained negligible throughout the period. Additional paid-in capital rose from about 170% to nearly 197% by late 2019 before declining steadily to around 35%-36% in early 2024, indicating significant equity capital issuance followed by dilution or capital restructuring.
- Accumulated Other Comprehensive Income (Loss)
- This item remained close to zero with minor fluctuations, showing marginal losses through 2022 and early 2023, implying limited impact from other comprehensive income items on equity.
- Retained Earnings (Accumulated Deficit)
- Retained earnings showed a significant deficit initially, worsening from –88.7% to nearly –118.4% until late 2019. From 2020 onward, this deficit consistently improved, turning positive by early 2023 and continuing upwards to about 10% by early 2024. This reflects an improving operational profitability or accumulated earnings over time.
- Total Stockholders’ Equity
- Overall stockholders’ equity represented between 70% and 83% of the capital structure until early 2022, then decreased sharply to roughly 40%-45% in the latest periods, paralleling the rise in liabilities, particularly convertible debts. This shift signals a changing balance between debt and equity financing within the company’s capitalization.