Common-Size Balance Sheet: Assets
Quarterly Data
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EQT Corp. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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EQT Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets remained generally low throughout the periods, fluctuating mostly below 1%. Notably, there was a brief increase in mid-2021, reaching 1.74%, followed by a decline and subsequent modest recovery toward late 2022.
- Accounts Receivable, Less Provision for Doubtful Accounts
- This category showed considerable volatility, initially increasing from 2.44% in early 2018 to a peak of 5.99% by the end of that year. Afterward, it decreased again but displayed an upward trend starting from early 2021, culminating in significantly higher levels in 2022, reaching up to 9.1%, indicating a growing receivables balance relative to total assets.
- Derivative Instruments at Fair Value
- The proportion of derivative instruments increased markedly over the observed periods. From a starting point below 1%, it rose steadily and showed several peaks — notably reaching values above 6% in 2022. This suggests an increasing use or valuation of derivative instruments in the asset structure.
- Income Tax Receivable
- This item appeared sporadically and was only reported during certain periods between late 2018 and mid-2020, peaking at 2.1%, before disappearing from the subsequent data. The irregular presence suggests it was not a consistent component of assets.
- Prepaid Expenses and Other
- Prepaid expenses and other assets fluctuated throughout the periods, with a notable increase beginning in 2020 and peaking around mid-2021 at 3.29%. Although these values declined somewhat thereafter, they remained elevated compared to early periods, indicating growth in this asset category.
- Current Assets
- The share of current assets generally rose over the timeline, increasing from around 4.31% in early 2018 to a peak of 18.06% in mid-2022, before a slight decrease. This upward trend points to a rising proportion of more liquid or short-term assets within total assets.
- Property, Plant and Equipment (PPE)
- PPE maintained a dominant presence in total assets, consistently exceeding 95%. A general upward trend was observed from 2018 through early 2021, reaching over 122%, followed by some fluctuations but remaining above 110% in later periods. This indicates a sustained and significant investment in long-term physical assets.
- Accumulated Depreciation and Depletion
- Accumulated depreciation and depletion showed a steady increase in magnitude (negative values), reflecting ongoing asset depreciation. The values deepened from approximately -15.23% in early 2018 to nearly -39.25% by late 2022. This trend signifies aging assets and the continuous application of depreciation over time.
- Net Property, Plant and Equipment
- Net PPE, representing gross PPE less accumulated depreciation, fluctuated between roughly 79% and 88% of total assets throughout the periods. Although generally stable, the net PPE experienced a decline starting in mid-2021, indicating either accelerated depreciation or a relative increase in accumulated depletion compared to gross PPE.
- Contract Asset
- This asset class appeared only from late 2019 onward, accounting for around 2% of total assets initially but declining sharply to approximately 0.13% by late 2022. This suggests an initial recognition of contract-related assets with subsequent reduction or write-offs.
- Intangible Assets, Net
- Intangible assets were present in early periods but diminished significantly, disappearing entirely after 2020. Their decrease from approximately 2.59% to negligible values indicates a reduction or disposal of intangible assets over time.
- Goodwill
- Goodwill was reported only in early 2018, accounting for about 7% of total assets, and was absent from all subsequent periods, indicating possible impairment, sale, or reclassification.
- Other Assets
- Other assets varied throughout the periods with values ranging mainly between 1.35% and 7.08%. There was a noticeable decrease following 2019, stabilizing around 2% in recent periods, reflecting a reduction or reclassification of miscellaneous asset components.
- Noncurrent Assets
- Noncurrent assets consistently composed the majority of total assets, starting above 95% in early 2018 and decreasing gradually to around 82.69% by late 2022. This declining trend aligns with the increase in current assets, indicating a moderate shift in asset composition toward more current holdings.
- Total Assets
- By definition, total assets accounted for 100% across all periods, serving as the reference point for the relative proportions of each asset category analyzed.