Common-Size Balance Sheet: Assets
Quarterly Data
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Eaton Corp. plc pages available for free this week:
- Balance Sheet: Assets
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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Eaton Corp. plc, common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 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: 2022-06-30), 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).
The asset composition exhibits a strategic transition in liquidity management and a persistent reliance on intangible assets over the analyzed period. A general trend shows a migration from non-operating current assets toward core operating assets, while the overall balance sheet remains heavily weighted toward noncurrent assets, specifically goodwill and other intangibles.
- Liquidity and Short-Term Asset Dynamics
- Current assets fluctuated between 21.94% and 32.13% of total assets. A notable shift occurred in the early stages of the period, where assets held for sale, which initially represented 7.44% of total assets in March 2021, were completely eliminated by September 2021. Cash levels remained generally low, typically hovering around 1%, with a significant outlier in March 2024 where cash peaked at 4.53%. Short-term investments showed a distinct cycle, peaking between June 2023 and June 2024 at a high of 5.69% before declining sharply to 0.34% by March 2026.
- Operating Working Capital Trends
- There is a consistent upward trajectory in the proportion of total assets held as accounts receivable and inventory. Net accounts receivable increased from 8.99% in March 2021 to a peak of 13.67% in September 2025, before moderating to 11.56% in March 2026. Similarly, inventory rose from 7.04% in March 2021 to 11.44% in December 2025, indicating a growing allocation of capital toward operating working capital to support business activities.
- Intangible Asset Concentration
- Intangible assets represent the most significant portion of the total asset base. Goodwill remained highly influential, fluctuating between 37.71% and 43.35%, though it showed a slight downward trend toward the end of the period, settling around 38.85%. Other intangible assets experienced a general decline from a peak of 17.70% in September 2021 to 12.25% in December 2025, followed by a sharp increase to 20.44% in March 2026, suggesting a possible new acquisition or asset revaluation in the final quarter.
- Fixed Asset and Noncurrent Asset Stability
- Net property, plant, and equipment (PP&E) remained relatively stable as a percentage of total assets, generally oscillating between 8.3% and 10.5%. Gross PP&E showed steady levels around 22% to 24% for most of the period but saw a contraction to 18.73% by March 2026. Total noncurrent assets, which dominated the balance sheet, ranged from a low of 67.87% in June 2024 to a high of 78.06% in September 2021, reflecting the heavy weighting of long-term intangible assets over physical infrastructure.