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Amphenol Corp. (NYSE:APH)

This company has been moved to the archive! The financial data has not been updated since April 26, 2024.

Common-Size Balance Sheet: Assets

Amphenol Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019
Cash and cash equivalents 8.93 8.96 8.16 13.81 8.24
Short-term investments 1.12 0.40 0.30 0.29 0.16
Cash, cash equivalents and short-term investments 10.05% 9.36% 8.46% 14.10% 8.40%
Accounts receivable, less allowance for doubtful accounts 15.84 17.17 16.72 15.83 16.05
Inventories 13.11 13.66 12.90 11.86 12.11
Prepaid expenses and other current assets 2.36 2.09 2.51 2.75 2.37
Current assets 41.36% 42.27% 40.59% 44.54% 38.94%
Property, plant and equipment, net 7.96 7.86 8.01 8.55 9.24
Goodwill 42.92 42.06 43.44 40.82 45.00
Other intangible assets, net 5.05 4.79 5.16 3.22 4.09
Other long-term assets 2.72 3.02 2.80 2.86 2.74
Long-term assets 58.64% 57.73% 59.41% 55.46% 61.06%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset composition reveals a balance sheet heavily weighted toward non-current assets, with a particular concentration in intangible assets. Current assets have remained relatively stable over the five-year period, fluctuating between 38.94% and 44.54%, while long-term assets consistently comprise the majority of the total asset base, ending 2023 at 58.64%.

Liquidity and Cash Position
A notable spike in liquidity occurred in 2020, where cash and cash equivalents reached 13.81% of total assets. Following this peak, the ratio normalized and stabilized between 8.16% and 8.96% from 2021 through 2023. Combined cash, cash equivalents, and short-term investments have shown a steady incremental increase since 2021, rising from 8.46% to 10.05%.
Working Capital Dynamics
Accounts receivable have remained stable, generally oscillating between 15.8% and 17.2% of total assets. Inventories exhibited a slight upward trend, increasing from 12.11% in 2019 to 13.11% in 2023, indicating a modest growth in the proportion of assets tied up in stock.
Intangible Assets and Goodwill
Goodwill represents the largest single component of the asset base, consistently accounting for over 40% of total assets throughout the period. Other intangible assets also showed a general increase, rising from 4.09% in 2019 to 5.05% in 2023. The dominance of these figures suggests a strategic emphasis on inorganic growth through acquisitions.
Fixed Asset Concentration
Property, plant, and equipment (net) experienced a gradual decline as a percentage of total assets, decreasing from 9.24% in 2019 to 7.96% in 2023. This trend indicates that investment in physical infrastructure has not kept pace with the overall growth of the company's asset base or its acquisition activities.

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