Common-Size Balance Sheet: Assets
Quarterly Data
Paying user area
Try for free
Western Digital Corp. pages available for free this week:
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Analysis of Debt
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Western Digital Corp. for $22.49.
This is a one-time payment. There is no automatic renewal.
We accept:
Western Digital Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2023-12-29), 10-Q (reporting date: 2023-09-29), 10-K (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-30), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-K (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-Q (reporting date: 2021-01-01), 10-Q (reporting date: 2020-10-02), 10-K (reporting date: 2020-07-03), 10-Q (reporting date: 2020-04-03), 10-Q (reporting date: 2020-01-03), 10-Q (reporting date: 2019-10-04), 10-K (reporting date: 2019-06-28), 10-Q (reporting date: 2019-03-29), 10-Q (reporting date: 2018-12-28), 10-Q (reporting date: 2018-09-28), 10-K (reporting date: 2018-06-29), 10-Q (reporting date: 2018-03-30), 10-Q (reporting date: 2017-12-29), 10-Q (reporting date: 2017-09-29).
The analysis of the quarterly financial data reveals several notable trends and patterns in the composition of the company's assets over the observed periods.
- Cash and Cash Equivalents
- This category showed a marked decline from 22.57% of total assets in late September 2017 to a low of 7.47% by late December 2022. A slight increase to 10.17% was noted again by late December 2023. Overall, cash reserves as a proportion of total assets decreased substantially, indicating a possible reallocation of resources or increased spending.
- Accounts Receivable, Net
- The percentage fluctuated within a range but showed a general upward trend after mid-2019, rising from around 4.54% in early 2019 to peaks above 10% between late 2021 and mid-2022. Afterward, values receded again towards the 6% range by late 2023. This variation suggests changing credit policies or sales dynamics affecting accounts receivable.
- Inventories
- Inventories steadily increased from 7.55% in September 2017 to peaks near or above 15% during 2022 and early 2023, before dropping back to approximately 13.19% by the end of 2023. This rise suggests stockpiling or increased production, possibly in anticipation of higher demand or supply chain considerations, followed by a reduction indicating inventory drawdown.
- Other Current Assets
- This category remained relatively stable with slight upward movement, rising from around 1.7% to over 3% by early 2023, before moderating near 2.53% at the end of 2023. The fluctuations here are modest, signaling consistent management of other short-term resources.
- Current Assets in Total
- Current assets as a proportion of total assets decreased from nearly 39% in 2017 to around 31-32% by late 2023, reflecting the observed declining trend in cash and some variability in receivables and inventories. This suggests a gradual shift in asset composition away from short-term liquid and near-liquid items.
- Property, Plant and Equipment, Net
- Fixed assets showed a gradual increase over the period, moving from about 10% in 2017 to above 14% in 2022 and early 2023, then slightly declining to 13.59% at the end of 2023. This indicates ongoing investment in physical assets, consistent with capacity expansion or modernization efforts.
- Notes Receivable and Investments in Flash Ventures
- The proportion varied somewhat but generally decreased from over 7% in 2018-2019 down to approximately 5.2-5.5% by late 2023. This decline could reflect changes in investment strategy or the maturity and payouts of existing notes receivable.
- Goodwill
- Goodwill consistently increased throughout the entire period, rising from about 33% of total assets in 2017 to over 41% by late 2023. This trend implies accumulation of intangible assets through acquisitions or other goodwill-generating events, reflecting the company’s growth strategy via mergers and acquisitions.
- Other Intangible Assets, Net
- The category steadily shrank from about 11.6% in 2017 to less than 0.5% by 2023, showing a significant amortization or write-down of intangible assets excluding goodwill. This suggests aggressive amortization policies or impairment losses on these assets over time.
- Other Non-Current Assets
- These assets increased moderately, moving from approximately 1.8% to above 7% by the end of 2023. The growth suggests expansion in less liquid or long-term asset components outside the main categories.
- Non-Current Assets, Overall
- The overall share of non-current assets remained relatively stable at around 60-68% of total assets, with a gradual uptick toward the higher end of this range by late 2023. This stability indicates a consistently asset-heavy structure characterized by significant investment in long-term resources.
In summary, the asset composition over the examined time frame displays a shift from cash and other liquid assets toward greater investment in goodwill and property, plant and equipment, alongside increasing inventories until recent periods. The marked reduction in other intangible assets and the steadily growing goodwill proportion point to a significant transformation in the asset base's nature, suggesting strategic acquisition activity and asset amortization. The trend towards a higher proportion of non-current assets compared to current assets confirms a long-term investment focus.