Common-Size Balance Sheet: Assets
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Hess Corp., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The composition of assets at the company experienced notable shifts between 2018 and 2022. Current assets as a percentage of total assets demonstrated volatility, initially decreasing from 20.80% in 2018 to a low of 14.49% in 2019, before increasing to 21.18% in 2021 and subsequently declining to 18.12% in 2022. A significant portion of the asset base consistently remained in noncurrent assets, fluctuating between 78.82% and 85.51% over the five-year period.
- Cash and Cash Equivalents
- The proportion of assets held as cash and cash equivalents exhibited considerable fluctuation. It decreased substantially from 12.57% in 2018 to 7.09% in 2019, then increased to 13.22% in 2021 before settling at 11.46% in 2022. This suggests potential changes in liquidity management or investment strategies.
- Property, Plant, and Equipment (PP&E)
- PP&E consistently represented the largest component of assets, ranging from 69.13% to 78.56% of the total. A general downward trend was observed from 2018 to 2021, followed by a slight increase in 2022. The inclusion of finance lease right-of-use assets increased the overall PP&E percentage, particularly in 2019 and 2020, and continued to contribute to the total in subsequent years.
- Accounts Receivable
- Accounts receivable showed an increasing trend from 4.67% in 2018 to 5.90% in 2021, before decreasing slightly to 5.36% in 2022. This indicates a potential increase in credit sales or a lengthening of the collection period, followed by a minor adjustment.
- Inventories
- The percentage of assets allocated to inventories was relatively stable, with a peak of 2.01% in 2020. It decreased to 1.00% in 2022, suggesting potential improvements in inventory management or a change in business operations.
- Other Current Assets
- Other current assets experienced a significant decline over the period, decreasing from 2.42% in 2018 to just 0.30% in 2022. This suggests a reduction in short-term investments or other miscellaneous current holdings.
- Goodwill and Deferred Income Taxes
- Goodwill remained relatively consistent, fluctuating between 1.65% and 1.91%. Deferred income taxes increased from 0.10% in 2018 to 0.61% in 2022, potentially reflecting changes in tax liabilities or accounting practices.
- Post-retirement Benefit Assets
- Post-retirement benefit assets were not present in the earlier years but grew substantially to 2.99% of total assets by 2022, indicating an increasing investment in these types of benefits.
- Operating Lease Right-of-Use Assets
- Operating lease right-of-use assets were introduced in 2019 and increased to 2.63% of total assets by 2022, reflecting the adoption of new lease accounting standards and an increasing reliance on operating leases.
- Joint Venture and Other Assets
- Both joint venture and other assets showed a consistent, albeit small, downward trend throughout the period, indicating a potential shift in investment strategies or a reduction in these types of holdings.