Stock Analysis on Net
Stock Analysis on Net

Hess Corp. (NYSE:HES)

$22.49

This company has been moved to the archive! The financial data has not been updated since November 2, 2023.

Common-Size Balance Sheet: Assets

Paying user area

Try for free

Hess Corp. pages available for free this week:

The data is hidden behind: . Unhide it.

Get access

This is a one-time payment. There is no automatic renewal.

We accept:

Visa Mastercard American Express Maestro Discover JCB PayPal Google Pay
Visa Secure Mastercard Identity Check American Express SafeKey

Hess Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents
From contracts with customers
Joint venture and other
Accounts receivable
Inventories
Other current assets
Current assets
Property, plant and equipment, net
Finance lease right-of-use assets, net
Property, plant and equipment, net, including finance lease right-of-use assets
Operating lease right-of-use assets, net
Goodwill
Deferred income taxes
Post-retirement benefit assets
Other assets
Noncurrent assets
Total 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 analysis of the annual financial data reveals several noteworthy trends in the composition of the assets over the five-year period ending December 31, 2022.

Cash and Cash Equivalents
There was a fluctuation in the proportion of cash and cash equivalents relative to total assets. Starting at 12.57% in 2018, it decreased significantly in 2019 to 7.09%, then increased to a peak of 13.22% in 2021. A slight decline followed in 2022, ending at 11.46%. This indicates variable liquidity management across the years.
Receivables and Related Customer Assets
From contracts with customers
This line showed an overall increasing trend from 3.6% in 2018 to a high of 5.18% in 2021, before a minor decrease to 4.8% in 2022. This suggests growing recognition of revenue-related assets through contracts.
Accounts receivable
The accounts receivable percentage generally rose from 4.67% in 2018 to 5.9% in 2021, followed by a slight decrease to 5.36% in 2022, indicating variations in credit sales or collection efficiency.
Inventories
Inventories increased notably in 2020 to 2.01% from around 1.14%-1.2% levels in prior years but then decreased substantially to 1.09% in 2021 and further to 1.0% in 2022, reflecting possible inventory optimization or changes in operational strategy.
Other Current Assets
Other current assets showed a declining trend over the period, dropping from 2.42% in 2018 to a low of 0.3% in 2022, which may indicate streamlined current asset management or the reclassification of certain asset categories.
Current Assets (Aggregate)
The percentage of current assets declined sharply from 20.8% in 2018 to 14.49% in 2019, then recovered somewhat to 21.18% in 2021 before falling again to 18.12% in 2022. These fluctuations mirror the mixed trends in the underlying current asset components.
Property, Plant and Equipment (PP&E)
Net PP&E excluding finance lease right-of-use assets
The net PP&E showed a generally downward trend from 75.04% in 2018 and peaked at 77.19% in 2019, thereafter declining to 69.13% in 2021 and slightly increasing to 69.59% in 2022. This suggests a reduction in capital-intensive assets relative to total assets, possibly due to asset disposals or depreciation.
Finance lease right-of-use assets
These assets appeared in 2019 at 1.37%, then decreased consistently to 0.58% in 2022, indicating declining reliance on finance leases.
PP&E net including finance lease right-of-use assets
The combined measure follows the trend of net PP&E, showing a decrease from 78.56% in 2019 to 70.17% in 2022.
Operating Lease Right-of-Use Assets
The proportion of operating lease right-of-use assets increased from 2.05% in 2019 to 2.63% in 2022, indicating a growing accounting recognition or increased use of operating leases.
Goodwill
Goodwill remained relatively stable around 1.65% to 1.91% throughout the period, showing minor fluctuations but overall consistency in intangible asset valuation.
Deferred Income Taxes
There was a steady increase in deferred income taxes, rising from 0.10% in 2018 to 0.61% in 2022, which may reflect timing differences in tax recognition expanding over time.
Post-retirement Benefit Assets
Data for post-retirement benefit assets was first reported in 2020 at 0.24%, then significantly increased to 2.99% in 2022, indicating recognition of substantial assets relating to employee benefits.
Other Assets
This category gradually increased its share from 2.38% in 2018 to 3.82% in 2022, reflecting either asset diversification or growth in miscellaneous asset holdings.
Noncurrent Assets
The total percentage of noncurrent assets relative to total assets increased from 79.2% in 2018 to a peak of 85.51% in 2019, then dropped to 78.82% by 2021, before recovering to 81.88% in 2022. This path parallels changes primarily seen in property, plant, and equipment and other long-term holdings.

Overall, the data illustrates a firm maintaining a predominantly asset-heavy structure with strong emphasis on property, plant, and equipment. Fluctuations in current asset components suggest active management of liquidity and receivables. There is a discernible increase in recognition of lease-related assets and post-retirement benefit assets in more recent years. The trends in deferred taxes and other assets also point toward evolving asset composition and potential tax planning considerations.