Common-Size Balance Sheet: Assets
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Earnings (P/E) since 2005
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Based on: 10-Q (reporting date: 2025-12-28), 10-K (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-Q (reporting date: 2024-12-29), 10-K (reporting date: 2024-09-29), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-K (reporting date: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-Q (reporting date: 2023-01-01), 10-K (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-Q (reporting date: 2022-01-02), 10-K (reporting date: 2021-10-03), 10-Q (reporting date: 2021-06-27), 10-Q (reporting date: 2021-03-28), 10-Q (reporting date: 2020-12-27), 10-K (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29), 10-Q (reporting date: 2019-12-29).
The composition of assets for the analyzed entity exhibits several notable trends over the observed period. Current assets, as a percentage of total assets, demonstrate considerable fluctuation. Initially, around 21% in late 2019 and early 2020, they increased significantly, peaking at 31.08% in late 2021, before declining to approximately 21-22% in mid-2024. A substantial increase is then observed in late 2025, reaching 37.30%, largely driven by a significant rise in assets held for sale.
Long-term assets consistently represent the majority of the asset base, generally ranging between 73% and 79% of total assets. However, a noticeable shift occurs in late 2025, with long-term assets decreasing to 62.70% of the total, coinciding with the increase in current assets.
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents to total assets shows volatility, ranging from a low of 8.44% to a high of 20.56%. A general upward trend is observed from late 2019 through late 2021, followed by a decline and subsequent stabilization around 10-12% through mid-2024. A decrease is noted in late 2025.
- Short-Term Investments
- Short-term investments as a percentage of total assets remain relatively small, generally below 1.36%. There is a noticeable increase in late 2022 and early 2023, peaking at 1.36% and 1.33% respectively, before declining again. Fluctuations are present throughout the period, but the overall contribution remains modest.
- Accounts Receivable, Net
- Accounts receivable, net, maintains a relatively stable percentage of total assets, fluctuating between approximately 3% and 4.2%. A slight upward trend is visible through late 2022, followed by a stabilization and minor decline in subsequent periods.
- Inventories
- Inventories exhibit a more pronounced trend. Starting at 5.08% in late 2019, they increased to a peak of 7.78% in late 2022, indicating a potential build-up of stock. A subsequent decline is observed through mid-2024, followed by a slight increase in late 2024 and 2025. The inventory levels remain elevated compared to the beginning of the analyzed period.
- Property, Plant and Equipment, Net
- Property, plant, and equipment, net, consistently represents a significant portion of long-term assets, generally between 20% and 27% of total assets. A gradual upward trend is observed throughout the period, suggesting ongoing investment in fixed assets.
- Operating Lease, Right-of-Use Asset
- The operating lease, right-of-use asset, is a substantial component of the asset base, consistently representing around 26-30% of total assets. The proportion remains relatively stable throughout the analyzed period.
- Goodwill
- Goodwill represents a significant portion of long-term assets, initially around 12-13%. A downward trend is observed from late 2021 through late 2025, decreasing to 4.07%, potentially indicating impairment or strategic adjustments.
The significant increase in ‘Assets held for sale’ in late 2025 warrants further investigation, as it substantially alters the asset composition and suggests a potential strategic shift or divestiture activity. The fluctuations in current assets, particularly the rise and fall of cash and cash equivalents and inventories, suggest dynamic working capital management practices.