Common-Size Balance Sheet: Assets
Quarterly Data
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Return on Equity (ROE) since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Revenues
- Analysis of Debt
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AutoZone Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2023-11-18), 10-K (reporting date: 2023-08-26), 10-Q (reporting date: 2023-05-06), 10-Q (reporting date: 2023-02-11), 10-Q (reporting date: 2022-11-19), 10-K (reporting date: 2022-08-27), 10-Q (reporting date: 2022-05-07), 10-Q (reporting date: 2022-02-12), 10-Q (reporting date: 2021-11-20), 10-K (reporting date: 2021-08-28), 10-Q (reporting date: 2021-05-08), 10-Q (reporting date: 2021-02-13), 10-Q (reporting date: 2020-11-21), 10-K (reporting date: 2020-08-29), 10-Q (reporting date: 2020-05-09), 10-Q (reporting date: 2020-02-15), 10-Q (reporting date: 2019-11-23), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-04), 10-Q (reporting date: 2019-02-09), 10-Q (reporting date: 2018-11-17), 10-K (reporting date: 2018-08-25), 10-Q (reporting date: 2018-05-05), 10-Q (reporting date: 2018-02-10), 10-Q (reporting date: 2017-11-18).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated over the period. Initially, it ranged from approximately 2.74% to 3.07%, followed by a decline to below 2% in early 2019. A marked increase occurred in mid-2020, peaking at over 12%, before gradually declining again to stabilize around 1.7-1.9% in late 2022 and 2023.
- Accounts receivable
- Accounts receivable as a percentage of total assets showed minor fluctuations. It hovered mostly between 2.6% and 3.3%, with slight increases observed from early 2022 through 2023, suggesting a modest growth in credit extended to customers or slower collections during this period.
- Merchandise inventories
- This category experienced a notable decrease from a high of approximately 44% in early 2019 to a low near 31% by late 2020. Subsequently, inventories gradually increased, reaching about 36% by late 2023. This trend indicates a contraction followed by rebuilding of inventory levels over the examined periods.
- Other current assets
- The share of other current assets remained relatively stable around 1.3% to 2.3%, with slight increases toward the end of the period, peaking at 2.38% in late 2023. This suggests minor growth in miscellaneous current assets over time.
- Current assets
- Total current assets, as a percentage of total assets, initially ranged just above 50%, but declined sharply in late 2019 and early 2020, dropping to around 40%. This was followed by a recovery to about 47% in late 2020. Over subsequent periods, current assets stabilized around 42-44%, indicating a modest reduction in short-term asset allocation.
- Property and equipment
- The gross property and equipment percentage displayed a steady increase from about 74% to a peak near 78% by 2018, followed by a significant reduction to approximately 56% by late 2020. Afterward, it exhibited a gradual increase again up to nearly 65% by the end of 2023, indicating fluctuations in capital asset investment or revaluation impacts.
- Accumulated depreciation and amortization
- Accumulated depreciation as a percentage of total assets increased steadily from roughly -30.8% to about -33.5% until 2019, then sharply decreased to around -25% by late 2020. Subsequently, it moved between -26% to -30%, suggesting changes in asset aging or depreciation policies affecting net property values.
- Net property and equipment
- Property and equipment net of accumulated depreciation generally declined from 43% to 31% between 2017 and 2020, then climbed to approximately 35% by late 2023. The trend reflects the combined effect of asset purchases, disposals, and depreciation over time.
- Operating lease right-of-use assets
- Data for right-of-use assets appeared from late 2019 and remained relatively stable around 18-20%, reflecting the recognition of lease-related assets following updated accounting standards on leases.
- Goodwill
- The goodwill percentage steadily decreased from over 4% in 2017 to below 2% by 2023, indicating amortization, impairment, or absence of new acquisitions contributing goodwill on the balance sheet.
- Deferred income taxes
- Deferred tax assets remained low throughout, fluctuating between roughly 0.18% and 0.54%, with a slight upward trend in the most recent periods, possibly indicating increased timing differences or tax credit utilization.
- Other long-term assets
- The proportion of other long-term assets showed minimal variation, generally holding between 1.3% and 2.1%, suggesting stability in miscellaneous long-term investments or assets.
- Long-term assets
- Overall long-term assets as a percentage of total assets decreased from about 50% in 2017 to around 48% in 2019, then increased sharply to nearly 60% during 2019-2020, followed by consistent maintenance between 55% and 58% through 2023. This pattern indicates restructuring between current and long-term asset classifications or acquisitions affecting balance sheet structure.
- Total assets
- The total assets sum is consistently 100%, serving as the base for relative asset composition analysis.