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HP Inc. (NYSE:HPQ)

This company has been moved to the archive! The financial data has not been updated since August 29, 2019.

Common-Size Balance Sheet: Assets

HP Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Oct 31, 2018 Oct 31, 2017 Oct 31, 2016 Oct 31, 2015 Oct 31, 2014 Oct 31, 2013
Cash and cash equivalents 14.92 21.26 21.68 16.31 14.66 11.51
Accounts receivable, net 14.77 13.41 14.18 12.50 13.40 15.02
Financing receivables 0.00 0.00 0.00 2.73 2.85 2.98
Inventory 17.51 17.58 15.46 6.07 6.22 5.72
Value-added taxes receivable 2.50 2.60 2.74 2.32 2.10 2.29
Available-for-sale investments 2.05 3.49 0.00 0.00 0.00 0.00
Supplier and other receivables 5.85 5.75 5.86 2.57 2.30 2.44
Prepaid and other current assets 4.17 3.72 3.75 3.85 4.38 4.01
Deferred tax assets 0.00 0.00 0.00 2.10 2.67 3.68
Other current assets 14.57% 15.56% 12.35% 10.84% 11.45% 12.43%
Current assets 61.77% 67.81% 63.66% 48.45% 48.59% 47.66%
Property, plant and equipment 6.35 5.71 5.98 10.38 10.99 10.85
Goodwill 17.24 17.08 19.38 30.82 30.17 29.45
Intangible assets 0.00 0.00 0.00 1.88 2.06 3.00
Financing receivables, net 0.00 0.00 0.00 3.44 3.50 3.67
Tax indemnifications receivable 2.75 5.15 5.48 0.00 0.00 0.00
Deferred tax assets 7.02 1.04 0.88 0.81 0.72 1.27
Deferred costs 0.00 0.00 0.00 0.69 0.73 0.95
Other 4.87 3.21 4.62 3.52 3.24 3.15
Other non-current assets 14.64% 9.40% 10.98% 5.03% 4.69% 5.37%
Noncurrent assets 38.23% 32.19% 36.34% 51.55% 51.41% 52.34%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

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).

The asset structure of the company underwent a significant transformation between 2013 and 2018, characterized by a fundamental shift from non-current asset dominance to a higher concentration of current assets. This transition became most pronounced starting in 2016, indicating a strategic realignment of the balance sheet toward increased liquidity and a reduced reliance on long-term intangible assets.

Current Asset Composition and Liquidity
Current assets increased from 47.66% of total assets in 2013 to a peak of 67.81% in 2017, before settling at 61.77% in 2018. This growth was driven primarily by two factors: a substantial rise in cash and cash equivalents, which peaked at 21.68% in 2016, and a sharp increase in inventory. Inventory levels remained stable around 6% until 2015, after which they surged to 15.46% in 2016 and reached 17.51% by 2018, suggesting a change in working capital management or product lifecycle dynamics.
Non-Current Asset Deleveraging
Non-current assets experienced a corresponding decline, falling from 52.34% in 2013 to a low of 32.19% in 2017. The most notable reduction occurred in goodwill, which represented approximately 30% of total assets from 2013 to 2015 but dropped to 17.24% by 2018. Property, plant, and equipment also showed a downward trend, decreasing from 10.85% in 2013 to 6.35% in 2018, indicating a lower proportion of fixed asset investment relative to the total asset base.
Other Asset Trends and Anomalies
Other non-current assets exhibited a growth trend, rising from 5.37% in 2013 to 14.64% in 2018. This category includes a notable spike in non-current deferred tax assets, which jumped to 7.02% in 2018 after remaining below 1.27% for the preceding five years. Additionally, tax indemnifications receivable appeared as a significant component from 2016 onward, though they decreased to 2.75% by 2018.

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