Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Eaton Corp. plc pages available for free this week:
- Statement of Comprehensive Income
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
- Analysis of Debt
- Aggregate Accruals
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Eaton Corp. plc, consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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), 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).
The analysis of the quarterly financial data reveals several notable trends across the key asset categories. Total assets showed a general increasing trend, rising from 30,845 million USD at the end of March 2020 to 40,507 million USD by June 2025, indicating overall growth in the asset base over the observed periods.
- Liquidity Position
- Cash balances fluctuated considerably, peaking at 1,777 million USD in March 2025, likely reflecting intermittent liquidity build-ups. Short-term investments also exhibited volatility, with significant surges observed in June and September 2023, reaching over 2,100 million USD, followed by sharp declines subsequently. These fluctuations suggest active liquidity management, possibly responding to operational needs or investment opportunities.
- Working Capital Components
- Accounts receivable demonstrated a steady upward trajectory, increasing from 2,951 million USD in March 2020 to 5,486 million USD by June 2025, implying expanding sales on credit or lengthening collection periods. Inventory levels also rose steadily, from 2,346 million USD to 4,581 million USD over the same interval, which may indicate higher demand expectations or stocking strategies. Prepaid expenses and other current assets generally increased as well, supporting the expansion in current assets overall.
- Current Assets
- Current assets grew from 8,670 million USD in March 2020 to reach a peak of 12,652 million USD by mid-2024 but declined slightly afterward. This growth aligns with increases in cash, accounts receivable, and inventory, reflecting broader operational expansion and investment in working capital.
- Fixed Assets and Depreciation
- Gross property, plant, and equipment values showed a gradual increase, indicating ongoing capital investments, rising from 7,296 million USD to 9,627 million USD. Meanwhile, accumulated depreciation also increased consistently, reflecting the aging and usage of assets. The net property, plant, and equipment figure showed steady growth as well, from 2,939 million USD to 4,032 million USD, signifying an expanding asset base after accounting for wear and tear.
- Intangible Assets
- Goodwill increased overall, recording a rise from 12,397 million USD to 15,790 million USD, showing either acquisitions or revaluations over the period. Other intangible assets, however, decreased gradually from 4,319 million USD to 5,227 million USD with some fluctuations, indicating amortization or disposals that reduced the carrying amount but with recent evidence of slight recovery.
- Other Asset Categories
- Operating lease assets showed a progressive increase, consistent with leasing arrangements expanding over time. Deferred income taxes rose moderately, suggesting growing temporary differences. Other assets and noncurrent assets remained relatively stable with modest growth, supporting the overall asset structure.
In summary, the company’s asset base expanded notably over the observed five-year period, driven by increases in both current and noncurrent assets. Working capital components grew significantly, hinting at operational growth but also potential increases in credit risk and inventory holding. Investments in fixed assets and goodwill point to ongoing capital expenditures and acquisitions. Cash and short-term investments showed high volatility, reflecting active liquidity and investment management strategies.