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Stock Analysis on Net

Hubbell Inc. (NYSE:HUBB)

This company has been moved to the archive! The financial data has not been updated since November 1, 2023.

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

Hubbell Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018
Short-term debt and current portion of long-term debt 0.06 0.03 0.09 0.09 0.07 0.11 0.15 0.18 2.46 2.66 6.82 3.01 0.45 2.87 2.15 1.33 0.71 1.08 1.55 1.15 2.61 1.83 3.57
Accounts payable 9.62 9.84 9.95 9.81 10.68 10.51 10.61 10.09 9.38 9.00 7.96 7.43 7.95 7.01 7.23 7.09 8.17 8.51 8.11 8.08 8.42 8.46 7.53
Accrued salaries, wages and employee benefits 2.24 2.08 1.26 2.67 2.02 1.75 1.20 1.79 1.56 1.53 1.21 1.80 1.62 1.32 1.33 2.07 1.83 1.45 1.38 2.09 2.20 1.63 1.43
Accrued insurance 1.40 1.40 1.55 1.40 1.40 1.39 1.51 1.39 1.47 1.48 1.47 1.41 1.48 1.52 1.57 1.39 1.38 1.38 1.41 1.26 1.26 1.32 1.30
Other accrued liabilities 5.26 5.62 6.35 6.18 5.74 5.38 5.14 4.99 4.88 4.65 4.25 4.99 4.76 4.70 4.68 5.35 4.98 4.93 4.59 4.65 4.28 4.28 4.24
Liabilities held for sale, current 0.00 0.00 0.00 0.00 0.00 0.00 0.00 1.73 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Current liabilities 18.57% 18.97% 19.20% 20.15% 19.90% 19.15% 18.61% 20.17% 19.75% 19.32% 21.70% 18.65% 16.25% 17.41% 16.96% 17.23% 17.07% 17.36% 17.04% 17.23% 18.77% 17.53% 18.06%
Long-term debt, excluding current portion 24.96 25.51 26.25 26.61 26.92 27.43 27.78 27.18 27.37 27.73 27.09 28.26 29.45 31.83 32.21 30.72 33.78 34.21 34.80 35.65 35.87 38.17 38.25
Other non-current liabilities 8.78 8.88 9.25 9.36 9.52 10.13 10.58 9.87 11.32 11.57 11.57 12.09 12.65 11.74 11.94 12.07 11.40 11.60 11.45 10.20 9.91 10.06 9.95
Liabilities held for sale, non-current 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Non-current liabilities 33.74% 34.39% 35.50% 35.97% 36.45% 37.56% 38.36% 37.41% 38.69% 39.29% 38.66% 40.34% 42.10% 43.58% 44.15% 42.78% 45.18% 45.81% 46.25% 45.85% 45.78% 48.24% 48.21%
Total liabilities 52.32% 53.36% 54.69% 56.12% 56.35% 56.70% 56.97% 57.57% 58.45% 58.61% 60.36% 58.99% 58.36% 60.99% 61.11% 60.01% 62.25% 63.17% 63.29% 63.08% 64.55% 65.77% 66.26%
Total Hubbell Incorporated shareholders’ equity 47.49 46.46 45.12 43.70 43.43 43.09 42.81 42.22 41.38 41.09 39.35 40.71 41.35 38.74 38.61 39.71 37.50 36.46 36.34 36.55 35.11 33.89 33.40
Noncontrolling interest 0.20 0.18 0.19 0.18 0.22 0.21 0.21 0.21 0.18 0.29 0.29 0.30 0.29 0.27 0.27 0.27 0.25 0.38 0.38 0.38 0.34 0.34 0.33
Total equity 47.68% 46.64% 45.31% 43.88% 43.65% 43.30% 43.03% 42.43% 41.55% 41.39% 39.64% 41.01% 41.64% 39.01% 38.89% 39.99% 37.75% 36.83% 36.71% 36.92% 35.45% 34.23% 33.74%
Total liabilities and equity 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).

A consistent trend of deleveraging and capital structure optimization is evident over the analyzed period from March 2018 through September 2023. Total liabilities have steadily declined from 66.26% of total liabilities and equity to 52.32%, while total equity has concurrently increased from 33.74% to 47.68%. This shift indicates a significant reduction in financial leverage and an increase in the company's solvency position.

Long-Term Debt Reduction
A sustained downward trajectory is observed in long-term debt, which fell from 38.25% in March 2018 to 24.96% by September 2023. This represents the most significant contributor to the overall reduction in non-current liabilities, which decreased from 48.21% to 33.74% over the same period.
Short-Term Debt Volatility
Short-term debt and the current portion of long-term debt exhibited fluctuation, peaking at 6.82% in March 2021. However, a sharp decline followed, with the ratio dropping to 0.06% by September 2023, suggesting a strategic shift away from short-term borrowing.
Equity Growth
Total shareholders' equity demonstrates a strong upward trend, rising from 33.40% in early 2018 to 47.49% by the end of the period. This growth suggests an increase in retained earnings or additional capital contributions, effectively balancing the reduction in total debt.
Working Capital and Current Liabilities
Current liabilities remained relatively stable, fluctuating between 16.25% and 21.70%. Within this category, accounts payable showed a gradual increase from 7.53% in March 2018 to a peak of 10.68% in September 2022, before settling at 9.62% in September 2023. This indicates a growing reliance on trade credit relative to the total balance sheet size.
Other Liability Trends
Other accrued liabilities showed a gradual increase from 4.24% to a peak of 6.35% in March 2023, while other non-current liabilities experienced a general decline from 9.95% to 8.78%.

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