Common-Size Balance Sheet: Assets
Quarterly Data
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Eaton Corp. plc, common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 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).
- Cash and Short-term Investments
- Cash as a percentage of total assets fluctuated modestly between 0.58% and 1.45% from early 2020 through early 2025, with a notable spike to 4.53% in March 2025. Short-term investments showed more variability, starting at 0.58% in March 2020, reaching a peak of 5.69% by June 2024, and then declining sharply to 0.41% in March 2025. This indicates a generally cautious liquidity position with occasional significant changes in the composition of liquid assets towards the end of the period.
- Accounts Receivable and Inventory
- Accounts receivable steadily increased from 9.57% of total assets in March 2020 to approximately 12.99% by March 2025, reflecting a rising trend in credit sales or extended collection periods. Inventory also expanded consistently from 7.61% to 11.20% over the same period, suggesting stock buildup potentially related to demand anticipation or supply chain factors.
- Current Assets
- Current assets as a percentage of total assets fluctuated around the high 20s to low 30s percent, starting at 28.11% in March 2020 and ending at 31.71% in March 2025. Despite intermediate decreases around 2021, the overall trend shows a gradual increase, indicating a strengthening short-term asset base.
- Property, Plant, and Equipment (PPE)
- Net property, plant, and equipment (PPE) as a share of total assets declined from 9.53% in early 2020 to a low near 8.31% in mid-2021, followed by a recovery to around 9.60% by March 2025. Gross PPE mirrored this pattern but remained above 22% throughout. The accumulated depreciation stayed relatively stable, fluctuating modestly between approximately 13.3% and 14.5%. These trends suggest moderate reinvestment activity and stable asset utilization.
- Goodwill and Intangible Assets
- Goodwill accounted for the largest portion of assets throughout the timeline, consistently representing around 38% to 43% of total assets with a slight downward trend toward the end, decreasing from 40.19% to 37.88%. Other intangible assets exhibited a gradual decline from 14% to 11.7%, indicating possible amortization or impairment over time. Together, intangible assets formed a substantial part of the asset base, implying significant acquisitions or brand-related values on the balance sheet.
- Other Asset Categories
- Operating lease assets showed a growing trend, increasing from 1.41% to just above 2% of total assets, reflecting likely expansion or capitalization of lease agreements. Deferred income taxes remained relatively low and stable, fluctuating near 1%. Other non-current assets decreased from about 62.36% to 58.68%, and non-current assets overall fell by approximately 3 percentage points, highlighting a modest composition shift toward current assets.
- Summary of Asset Structure
- The overall asset base demonstrated dynamic shifts with increased allocation towards current assets such as receivables and inventory, accompanied by a slight reduction in non-current asset concentration. The large presence of goodwill and intangible assets suggests a strategy reliant on acquisitions or significant brand value. Liquidity metrics, as reflected by cash and short-term investments, experienced variability with a significant increase at the end of the period, which may indicate a strategic liquidity position change or asset reallocation.