Common-Size Balance Sheet: Assets
Quarterly Data
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Albemarle Corp. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Aggregate Accruals
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Albemarle Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets exhibits moderate volatility over the periods. Initially at 9.16% in March 2018, the value declined, reaching a minimum near 3.9% in September 2019. Subsequently, it recovered gradually, reaching around 9.7% in December 2022, then slightly decreasing to 9.03% in March 2023. This reflects fluctuations in liquid asset holdings with some recovery in recent periods.
- Trade accounts receivable, less allowance for doubtful accounts
- Trade receivables as a percentage of total assets remained relatively stable initially, fluctuating between 7.36% and 8.03% from early 2018 through mid-2019. However, a notable decline occurred from late 2019 through mid-2021, dropping to a low of 4.22%. Since then, there has been a consistent increase, returning to approximately 7.7% by March 2023, indicating a recovery in receivables relative to asset size.
- Other accounts receivable
- This component remained fairly low and stable throughout the periods, generally hovering under 1.3%. A slight uptick is observed in the last two periods, rising to 1.78% by March 2023, suggesting a marginal increase in miscellaneous receivables.
- Inventories
- Inventories as a percentage of total assets showed a gradual upward trend, beginning near 8.82% in early 2018 and increasing steadily to 18.11% by March 2023. This notable increase suggests growing inventory levels relative to asset base, possibly indicating expansion in stock holdings or slower inventory turnover.
- Other current assets
- The proportion of other current assets remained relatively consistent, generally around 1%, with minor fluctuations. Values ranged from 0.54% to 1.65%, showing no significant trend over the observed periods.
- Current assets
- Current assets registered a decreasing trend from the high 20% range into 18.3% by the end of 2021, followed by a substantial increase starting in 2022, reaching 37.9% by March 2023. This indicates a shift towards higher current asset holdings after a period of relative contraction.
- Property, plant and equipment, at cost
- Property, plant, and equipment (PPE) as a portion of total assets generally rose from 56.21% in early 2018 to a peak near 73.58% at the end of 2021. Afterward, a steady decline occurred, dropping to 55.97% by the first quarter of 2023. The initial increase indicates investment in fixed assets, while the later decrease may reflect asset disposals or reallocations.
- Accumulated depreciation and amortization
- Accumulated depreciation remained consistently negative, as expected, ranging from -15.47% to -23.45%. Notably, the magnitude of accumulated depreciation lessened after 2019, indicating slower accumulation relative to total assets, possibly due to disposal of older assets or changes in asset base.
- Net property, plant and equipment
- The net PPE, reflecting the cost less accumulated depreciation, increased steadily, starting from 34% in March 2018 and peaking at 53.85% in December 2021. A subsequent decline occurred, with net PPE falling to 41.87% by March 2023, consistent with the trends in gross PPE and accumulated depreciation.
- Investments
- Investments as a percentage of total assets remained relatively stable with minor fluctuations, generally between 5.5% and 8.4%. There was a modest increase noted around 2021, but no significant long-term trend is observable.
- Other assets
- Other assets constituted a small portion of total assets, fluctuating slightly between 1% and 2.7%. The data shows minor variation with no clear directional trend across the periods.
- Goodwill
- Goodwill as a proportion of total assets declined steadily over the periods, decreasing from 21.75% in early 2018 to 9.3% by March 2023. This considerable reduction may be due to amortization, impairment, or divestitures affecting intangible asset values.
- Other intangibles, net of amortization
- Other intangible assets also displayed a downward trend, sliding from 5.69% in March 2018 to 1.62% in March 2023. The continuous decline aligns with the decrease in goodwill, reinforcing a reduction in intangible asset bases.
- Noncurrent assets
- Noncurrent assets as a percentage of total assets initially rose from 71.43% in early 2018 to over 81% by the end of 2021, indicating increased investment in long-term assets. Subsequently, a decline followed, decreasing to 62.1% by March 2023, reflecting asset reallocation towards current assets or disposals.
- Total assets
- The total assets serve as the baseline at 100% throughout the periods for comparative purposes.