Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Best Buy Co. Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2022-01-29), 10-K (reporting date: 2021-01-30), 10-K (reporting date: 2020-02-01), 10-K (reporting date: 2019-02-02), 10-K (reporting date: 2018-02-03), 10-K (reporting date: 2017-01-28).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents to total assets fluctuated over the analyzed periods. Beginning at 16.17% in 2017, it decreased notably to 8.44% in 2018, rebounded to a similar level as in 2017 by 2019 and 2020, increased sharply to 28.81% in 2021, and then reduced to 16.77% in 2022. This indicates fluctuations in liquid asset holdings, with a significant peak in 2021 possibly reflecting strategic liquidity management or changes in cash reserves.
- Short-term Investments
- Data for short-term investments as a percentage of total assets is only available for 2017 and 2018, showing an increase from 12.13% to 15.57%. Absence of data for subsequent years prevents trend analysis beyond 2018.
- Receivables, Net
- Receivables as a percentage of total assets showed a consistent downward trend over the period. Starting at 9.72% in 2017, it steadily declined to 5.56% by 2021, with a slight increase to 5.95% in 2022. The reduction suggests improved receivables management or slower sales growth affecting credit sales.
- Merchandise Inventories
- The inventory proportion generally decreased overall, despite some variability. It increased from 35.10% in 2017 to a peak of 41.93% in 2019, then declined sharply to 29.43% by 2021 before rising again to 34.08% in 2022. The peak in 2019 might indicate inventory buildup ahead of sales or supply chain strategies, while the subsequent drop could reflect inventory optimization or changes in sales volume.
- Other Current Assets
- The share of other current assets remained relatively stable, fluctuating within a narrow range between 1.96% and 3.61%. A noticeable dip occurred in 2020 and 2021 at 1.96%, with recovery to 3.40% in 2022, suggesting minor shifts in miscellaneous current asset components.
- Current Assets
- Current assets as a percentage of total assets demonstrated a generally declining trend from 75.89% in 2017 to a low of 56.81% in 2020. A partial recovery ensued, reaching 65.77% in 2021, followed by a decrease to 60.21% in 2022. This indicates a decrease in short-term asset allocation over time, with some rebound potentially reflecting adjustments in working capital structure.
- Net Property and Equipment
- The proportion of net property and equipment initially increased from 16.55% in 2017 to 19.46% in 2019, then declined significantly to 11.85% by 2021, with a slight increase to 12.85% in 2022. This pattern may indicate asset disposals, depreciation, or changes in capital expenditure strategies.
- Operating Lease Assets
- Operating lease assets data is only available from 2020 onward. The values dropped from 17.38% in 2020 to 13.70% in 2021, with a modest increase to 15.16% in 2022, suggesting adjustments in leasing strategies or lease portfolio changes.
- Goodwill
- Goodwill as a percentage of total assets increased from 3.07% in 2017 to 7.09% in 2019, dipped to 5.17% in 2021, then rose sharply to 7.91% in 2022. This indicates acquisition activity or revaluation, with fluctuations possibly linked to goodwill impairments or further acquisitions.
- Other Assets
- Other assets proportions varied between 2.87% and 4.70%, with no clear trend. It decreased after 2017 but stabilized around 3.5% in the later years, suggesting relative consistency in other non-current asset holdings.
- Non-current Assets
- Non-current assets as a percentage of total assets generally increased over time, beginning at 24.11% in 2017 and reaching a peak of 43.19% in 2020, before decreasing to 34.23% in 2021 and rising again to 39.79% in 2022. This reflects a shift toward long-term asset investments or reclassifications, with 2020 representing the highest emphasis on non-current assets.
- Total Assets
- By definition, total assets remain consistent at 100% of total assets across all periods, serving as the basis for the proportional analysis of asset categories.