Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Statement of Comprehensive Income
- Cash Flow Statement
- Common-Size Income Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Operating Profit Margin since 2005
- Return on Equity (ROE) since 2005
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Teradyne Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
- Current Liabilities Trends
- The proportion of current liabilities as a percentage of total liabilities, convertible common shares, and shareholders' equity exhibited fluctuations over the five-year period. Beginning at 19.34% in 2019, it remained relatively stable around 19-21% through 2022 but decreased to 18.93% in 2023. Within this category, accounts payable showed an initial decrease from 4.54% in 2019 to 3.66% in 2020, followed by a slight increase reaching 5.17% in 2023, indicating a variable but recovering trend. Accrued employees’ compensation and withholdings peaked in 2021 at 6.66% before declining to 5.5% in 2023, reflecting possible adjustments in employee-related liabilities. Deferred revenue and customer advances remained consistent around 3.7-3.8% until 2022, after which it dropped notably to 2.86% in 2023, suggesting a decrease in advance payments or deferred income. Other accrued liabilities rose from 2.54% in 2019 to stabilize around 3.2-3.3% by 2023. Current operating lease liabilities maintained a narrow range, slightly decreasing from 0.7% to 0.5% across the period. Income taxes payable declined after peaking in 2021 (2.33%) to 1.4% in 2023. The emergence of current liabilities held for sale at 0.21% in 2023 indicates new liabilities reclassified as held for sale.
- Long-Term Liabilities Patterns
- Long-term liabilities as a percentage of total metrics showed a steady decline from 27.55% in 2019 to 8.63% in 2023, reflecting significant reductions or repayments. Long-term debt notably decreased from 14.16% in 2019 to being absent in the last two years, evidencing debt reduction strategies. Retirement plan liabilities decreased initially from 4.82% to 3.31% in 2022 but slightly rebounded to 3.79% by 2023. Deferred tax liabilities consistently declined, nearing zero by 2023, indicating diminishing deferred tax obligations. Long-term operating lease liabilities increased from 1.65% to 1.87%, suggesting either new lease commitments or a reclassification of liabilities. Long-term income taxes payable reduced steadily from 2.97% to 1.27%. Minor proportions appeared in long-term liabilities held for sale by 2023 at 0.06%. Overall, the long-term liabilities category portrays a clear deleveraging and reduced long-term obligations trend.
- Equity and Convertible Securities Developments
- Shareholders' equity increased steadily from 53.11% in 2019 to 72.44% in 2023, reflecting growth in the equity base relative to total liabilities and equity components. Additional paid-in capital showed a decline from 61.72% in 2019 to 47.55% in 2021, then reversed to increase up to 52.41% in 2023, indicating fluctuations in contributed capital possibly due to equity transactions or share buybacks. Retained earnings turned positive from a negative -8.68% in 2019 to 20.26% in 2023, revealing accumulated profitability or retained income growth. Accumulated other comprehensive income/loss fluctuated, showing modest gains in 2020 but ending with a negative balance of -0.77% in 2023, suggesting volatility in items impacting comprehensive income such as foreign currency adjustments or unrealized gains/losses. Convertible common shares and mezzanine equity each appeared briefly in 2020 and 2021 in minor proportions but were not present before or after, highlighting temporary financing or equity arrangements during those years. Common stock proportion remained relatively steady around 0.53-0.75%, indicating stability in par value capital.
- Overall Structural Shifts
- The total liabilities as a percentage of combined total liabilities, convertible common shares, and shareholders' equity consistently decreased from 46.89% in 2019 to 27.56% in 2023, indicating a shift toward a stronger equity position and reduced overall leverage. The total equity proportion increased correspondingly, underscoring enhanced financial stability or capitalization. The consistent total percentage sum of 100% across years reflects balanced presentation of liabilities and equity components. The data suggests a strategic focus on reducing debt and long-term liabilities while strengthening equity and retained earnings, supporting a more robust financial standing over the five-year span.