Common-Size Balance Sheet: Assets
Amphenol Corp., common-size consolidated balance sheet: assets
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).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets increased notably from 8.24% in 2019 to a peak of 13.81% in 2020, followed by a decline to around 8.9% in the subsequent years through 2023, indicating a return to a more conservative cash holding level after an initial increase in the earlier period.
- Short-term Investments
- Short-term investments as a percentage of total assets remained minimal but showed a steady increase from 0.16% in 2019 to 1.12% in 2023. This suggests a growing allocation toward liquid investments over this time frame.
- Cash, Cash Equivalents, and Short-term Investments Combined
- Combined liquidity assets followed a similar trend to cash alone, rising sharply from 8.4% in 2019 to 14.1% in 2020, then decreasing yet showing a gradual increase to 10.05% by 2023, reflecting cautious management of liquid assets after a spike in 2020.
- Accounts Receivable
- The proportion of accounts receivable fluctuated mildly, starting at 16.05% in 2019, dipping slightly to 15.83% in 2020, rising to a peak of 17.17% in 2022, and then falling back to 15.84% in 2023. This pattern indicates some variability in receivables management or sales cycles over the period.
- Inventories
- Inventory levels as a percentage of total assets remained fairly stable, with a slight upward trend from 12.11% in 2019 to a peak of 13.66% in 2022, before decreasing to 13.11% in 2023. This suggests moderate inventory growth with some recent consolidation.
- Prepaid Expenses and Other Current Assets
- These assets fluctuated within a narrow range, starting at 2.37% in 2019 and peaking at 2.75% in 2020, then declining to around 2.09% in 2022, before rising slightly again to 2.36% in 2023, indicating relatively stable levels of prepaid and miscellaneous current assets.
- Current Assets
- The overall share of current assets experienced a peak at 44.54% in 2020, rising from 38.94% in 2019. After this peak, current assets decreased to approximately 41% by 2023, reflecting some rebalancing between current and long-term assets in recent years.
- Property, Plant, and Equipment (PP&E), Net
- The percentage of net PP&E consistently declined from 9.24% in 2019 to 7.86% in 2022, with a slight uptick to 7.96% in 2023. This trend shows a modest reduction in physical asset base relative to total assets, potentially indicating either depreciation or a strategic reduction in fixed capital.
- Goodwill
- Goodwill as a proportion of total assets decreased significantly from 45% in 2019 to 40.82% in 2020, then partially recovered to levels around 42-43% in the following years, suggesting changes in acquisition activity or impairment adjustments affecting asset goodwill values.
- Other Intangible Assets, Net
- Other intangible assets displayed variability, with a decline from 4.09% in 2019 to 3.22% in 2020, followed by an increase to 5.16% in 2021, and later settling near 5% through 2023. This pattern might reflect investments or revaluations of non-physical assets.
- Other Long-term Assets
- These assets fluctuated mildly between 2.72% and 3.02%, showing no significant trend over the analyzed period and maintaining a relatively stable share of total assets.
- Long-term Assets
- The overall proportion of long-term assets decreased from 61.06% in 2019 to 55.46% in 2020, before rising again to approximately 58-59% in the subsequent years. This indicates a shift in the asset structure in 2020, followed by partial recovery of long-term holdings.
- Total Assets
- Total assets consistently represent 100% as the baseline measure, serving as the denominator for all proportional analyses.