Common-Size Balance Sheet: Assets
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Capital Asset Pricing Model (CAPM)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Price to Sales (P/S) since 2005
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HP Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2018-10-31), 10-K (reporting date: 2017-10-31), 10-K (reporting date: 2016-10-31), 10-K (reporting date: 2015-10-31), 10-K (reporting date: 2014-10-31), 10-K (reporting date: 2013-10-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents to total assets increased steadily from 11.51% in 2013 to a peak of 21.68% in 2016 and 21.26% in 2017, followed by a decline to 14.92% in 2018. This pattern suggests an accumulation of liquid assets through 2016 and 2017 before a notable reduction in 2018.
- Accounts Receivable, Net
- Accounts receivable as a percentage of total assets declined from 15.02% in 2013 to 12.50% in 2015, followed by a moderate increase to 14.77% in 2018, indicating fluctuations without a clear linear trend but a relatively stable presence around the mid-teens.
- Financing Receivables
- This category gradually decreased from 2.98% in 2013 to 2.73% in 2015 before ceasing to be reported from 2016 onward, suggesting a possible reclassification or disposal of financing receivables during that period.
- Inventory
- Inventory as a percentage of total assets remained relatively stable around 6% from 2013 to 2015, then sharply rose to 15.46% in 2016 and further to approximately 17.5% in 2017 and 2018, indicating a significant increase in inventory holdings starting in 2016.
- Value-Added Taxes Receivable
- This asset showed minor fluctuations within a narrow range, roughly between 2.10% and 2.74% over the years, representing a consistent but small portion of total assets.
- Available-for-Sale Investments
- Reported only in 2017 and 2018, this item comprised 3.49% and then declined to 2.05% of total assets, indicating a modest presence of such investments beginning in 2017 with a reduction the subsequent year.
- Supplier and Other Receivables
- This component approximately doubled from 2.44% in 2013 to about 5.8% in later years, reaching a peak at 5.86% in 2016, suggesting increased receivables related to suppliers and others starting in 2016.
- Prepaid and Other Current Assets
- Prepaid and other current assets fluctuated mildly around the 3.7% to 4.4% range without a definitive upward or downward trend.
- Deferred Tax Assets (Current)
- Initially decreasing from 3.68% in 2013 to 2.10% in 2015, current deferred tax assets were not reported for 2016–2018, potentially reflecting an accounting change or reclassification.
- Other Current Assets
- Other current assets showed a small increase from 10.84% in 2015 to 15.56% in 2017, and slightly declined to 14.57% in 2018, indicating an expanding category contributing significantly to current assets in later years.
- Current Assets
- Current assets as a whole increased markedly from around 48.5% in earlier years to a peak of 67.81% in 2017, followed by a decrease to 61.77% in 2018, reflecting a shift toward higher liquidity and short-term asset composition during this period.
- Property, Plant, and Equipment (PPE)
- PPE declined substantially from around 11% in 2013–2015 to below 6% in 2016 and 2017, with a slight increase to 6.35% in 2018, indicating a reduction in tangible fixed assets relative to total assets during the mid-period with minor recovery later.
- Goodwill
- Goodwill represented about 30% of total assets from 2013 to 2015, but sharply decreased to 19.38% in 2016 and further declined to about 17% in 2017 and 2018, reflecting significant impairment, disposals, or revaluation of acquired intangibles.
- Intangible Assets
- Reported only until 2015, intangible assets decreased from 3.00% in 2013 to 1.88% in 2015, ceasing to be reported afterwards, which may indicate reclassification or impairment.
- Financing Receivables, Net (Non-current)
- Reported from 2013 to 2015, this asset decreased slightly from 3.67% to 3.44%, then was no longer reported, aligning with the pattern seen in financing receivables overall.
- Tax Indemnifications Receivable
- Beginning to be reported in 2016, this account started at 5.48% and declined to 2.75% in 2018, indicating the gradual realization or reduction of these receivables.
- Deferred Tax Assets (Non-current)
- Non-current deferred tax assets showed a significant increase from 1.27% in 2013 to 7.02% in 2018, indicating growing recognition or accumulation of deferred tax benefits in the longer term.
- Deferred Costs
- Only disclosed through 2015, deferred costs slightly declined from 0.95% to 0.69%, then ceased reporting, suggesting possible elimination or reclassification.
- Other Non-current Assets
- Other non-current assets rose from 4.69% in 2014 to 14.64% in 2018, reflecting a notable increase in this category, possibly due to new long-term investments or capitalized costs.
- Noncurrent Assets
- Noncurrent assets decreased from approximately 52% in the early years to a low of 32.19% in 2017, followed by a partial rebound to 38.23% in 2018, illustrating a shift from long-term to short-term assets over time with some reversal at the end.
- Total Assets
- By definition, total assets constitute 100% each year; however, the composition between current and noncurrent assets shifted substantially, indicating strategic changes in asset allocation.
- Summary of Trends
- Overall, there is a clear trend toward increasing current assets as a percentage of total assets between 2013 and 2017, driven especially by increases in cash, inventory, other current assets, and supplier receivables. Concurrently, noncurrent assets, including property, plant and equipment, goodwill, and intangible assets, decreased significantly over the same period with partial recovery only in 2018 for some categories. The rise in deferred tax assets (non-current) and other non-current assets toward 2018 suggests some new investments or tax strategies. The significant reduction in goodwill and intangible assets points to impairment or restructuring activities. The data reveal a shift in asset composition toward liquidity and shorter-term holdings, possibly reflecting changes in operational strategy, investment focus, or balance sheet management.