Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
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Eaton Corp. plc, common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The composition of assets exhibited several notable shifts between 2021 and 2025. Current assets as a percentage of total assets increased significantly through 2023, peaking at 30.38%, before experiencing a slight decline to 29.95% in 2025. Conversely, noncurrent assets decreased as a proportion of the total, though remaining the dominant component of the asset base throughout the period.
- Liquidity & Current Assets
- Cash holdings increased steadily from 0.87% of total assets in 2021 to 1.51% in 2025, suggesting improved liquidity. Short-term investments experienced a substantial increase in 2023, reaching 5.52%, but then decreased significantly to 0.44% in 2025. Accounts receivable, net, demonstrated a consistent upward trend, rising from 9.69% to 13.06% of total assets. Inventory also increased, moving from 8.73% to 11.44% over the five-year period. Prepaid expenses and other current assets showed a more moderate increase, from 1.99% to 3.50%.
- Long-Term Assets
- Goodwill represented a substantial portion of the asset base, although its percentage of total assets decreased from 43.35% in 2021 to 38.23% in 2025. Other intangible assets also decreased as a percentage of total assets, declining from 17.21% to 12.25%. Net property, plant and equipment showed a gradual increase, from 9.00% to 10.46%. Operating lease assets increased from 1.30% to 1.86% over the period. Deferred income taxes increased from 1.15% to 1.71%.
- Overall Asset Composition
- The relative importance of goodwill and other intangible assets diminished over the period, while current assets and net property, plant and equipment became comparatively more significant. This suggests a potential shift in asset allocation, possibly indicating a move towards more liquid or operational assets. The decrease in short-term investments in 2025 warrants further investigation to understand the reason for the reduction.
The changes in asset composition suggest a dynamic approach to asset management. The increase in current assets could indicate a preparation for growth or a response to changing market conditions. The reduction in goodwill and intangible assets may reflect impairment charges or strategic divestitures.