Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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Based on: 10-Q (reporting date: 2025-06-27), 10-Q (reporting date: 2025-03-28), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-27), 10-Q (reporting date: 2024-06-28), 10-Q (reporting date: 2024-03-29), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-29), 10-Q (reporting date: 2023-06-30), 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: 2022-07-01), 10-Q (reporting date: 2022-04-01), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-01), 10-Q (reporting date: 2021-07-02), 10-Q (reporting date: 2021-04-02), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-25), 10-Q (reporting date: 2020-06-26), 10-Q (reporting date: 2020-03-27).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets exhibits variability without a consistent directional trend. Initially, the ratio declines from 14.42% in March 2020 to a low near 7.78% in December 2020. Subsequently, there is an oscillating pattern with intermittent increases reaching up to 13.55% in June 2024, followed by decreases thereafter, concluding at 9.19% in June 2025.
- Short-term Investments
- Short-term investments show notable fluctuations, peaking at 7.97% in June 2020, then retreating to around 1.32%-2.31% in late 2020 and throughout 2021. From early 2022 onward, the ratio generally rises again, reaching 4.79% in March 2024, but slightly declines towards mid-2025 to approximately 2.55%.
- Combined Cash, Cash Equivalents, and Short-term Investments
- This combined figure trends downward sharply from 19.27% in September 2020 to 9.81% in December 2020, reflecting the previous individual declines. It then follows a trajectory of moderate recovery and oscillation, reaching a high near 17.19% in June 2024, before decreasing back to approximately 11.74% by June 2025.
- Marketable Securities
- The share of marketable securities remains relatively stable with minor fluctuations, mostly staying close to the 1.5%-2.5% band throughout the period. There is a slight dip towards early 2023, but the level recovers marginally in subsequent quarters.
- Trade Accounts Receivable (net)
- This asset component maintains a narrow range fluctuating between approximately 3.5% and 4.9%. The ratio tends to peak during April 2022 at 4.93%, followed by subsequent fluctuations without a clear directional trend.
- Inventories
- The inventory proportion shows a subtle upward trend over the observed period, increasing from 3.78% in March 2020 toward near 5.02% by March 2025. Temporary dips occur but overall growth is evident, suggesting a gradual increase in inventory holdings relative to total assets.
- Prepaid Expenses and Other Current Assets
- This category increases notably mid-period, reaching a peak of 5.36% in December 2023, before receding back toward approximately 2.9%-3.3% by mid-2025. The data indicates some volatility with a significant but temporary expansion in late 2023.
- Current Assets Overall
- Current assets as a percentage of total assets drop sharply from around 31% in early 2020 to approximately 22% in December 2020. Following this trough, a gradual recovery and fluctuating rise occur, stabilizing near 25%-31% from 2022 onwards, albeit with some declines toward the end of the series.
- Equity Method Investments
- Equity method investments generally decline over time, from about 19.4% in late 2020 down to roughly 17.9% in late 2024, with minor rebounds observed. This suggests a diminishing relative weight of these investments within total assets.
- Other Investments
- Other investments remain minimal, with percentages typically below 1%, exhibiting a slow decline toward negligible values after mid-2022. Some gaps in data exist, but the overall level remains marginal.
- Deferred Income Tax Assets
- A gradual decline in deferred income tax assets is evident, falling from approximately 2.5% in early 2020 to near 1.27% by mid-2025, indicating a decreasing relative proportion in the asset composition.
- Property, Plant, and Equipment (net)
- This asset class decreases modestly from about 11.69% in March 2020 to near 10.34% by June 2025, with fluctuations ranging roughly between 9% and 12%. The data suggest a mild downward trend over time.
- Trademarks with Indefinite Lives
- Trademarks maintain a strong and relatively stable presence within total assets, ranging largely between 10.5% and 15.3%. Notably, there is an increase to above 15% starting in late 2021 and continuing through 2022, then a gradual reduction toward approximately 13% in mid-2025.
- Goodwill
- Goodwill as a percentage of total assets fluctuates between approximately 17.4% and 20.8%. The pattern shows a peak near 20.8% in early 2022 with a general modest decline afterward, reaching about 17.9% by mid-2025.
- Other Intangible Assets
- Other intangible assets remain a small fraction of total assets, trending downward from approximately 0.75% in early 2020 to below 0.5% in latest available data, indicating a gradual reduction.
- Total Intangible Assets
- Intangible assets as a whole demonstrate a peak around 36.9% in early 2022, after which there is a slow and steady decline to about 30.9% by mid-2025. This signals an overall decrease in the relative share of intangibles in assets over the longer term.
- Other Noncurrent Assets
- Other noncurrent assets remain relatively constant in the earlier period but show a marked increase from late 2023 onward, reaching over 13% of total assets by mid-2025. This sudden rise indicates a significant reallocation or recognition of other long-term assets.
- Noncurrent Assets
- Noncurrent assets comprise the majority of total assets, with values ranging from approximately 69% to 77%. A notable dip occurs near 68.7% in September 2020 followed by a rise into the mid-70%s. Toward the end of the series, a slight upward trend is observed, peaking near 74.5% in mid-2025.