Stock Analysis on Net
Stock Analysis on Net

Johnson Controls International plc (NYSE:JCI)

This company has been moved to the archive! The financial data has not been updated since May 1, 2024.

Common-Size Balance Sheet: Assets 

Johnson Controls International plc, common-size consolidated balance sheet: assets

Microsoft Excel
Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019 Sep 30, 2018
Cash and cash equivalents 1.98 4.82 3.19 4.78 6.63 0.41
Accounts receivable, less allowance for expected credit losses 14.22 13.11 13.40 12.97 13.64 14.48
Inventories 6.57 5.95 4.91 4.34 4.29 6.61
Current assets held for sale 0.00 0.92 0.00 0.00 0.23 0.00
Other current assets 2.65 2.92 2.37 2.54 4.51 2.73
Current assets 25.42% 27.72% 23.87% 24.63% 29.31% 24.23%
Property, plant and equipment, net 7.42 7.22 7.71 7.49 7.92 12.65
Goodwill 42.46 41.10 43.77 43.93 42.99 39.91
Other intangible assets, net 11.57 11.01 13.25 13.12 13.32 13.01
Investments in partially-owned affiliates 2.50 2.28 2.54 2.24 2.02 2.67
Noncurrent assets held for sale 0.00 1.78 0.37 0.36 0.14 0.00
Other noncurrent assets 10.63 8.89 8.49 8.22 4.31 7.54
Noncurrent assets 74.58% 72.28% 76.13% 75.37% 70.69% 75.77%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30), 10-K (reporting date: 2018-09-30).

The analysis of the financial structure over the period from 2018 to 2023 reveals several notable trends and shifts in asset composition.

Cash and Cash Equivalents
As a percentage of total assets, cash and cash equivalents fluctuated significantly, increasing sharply from 0.41% in 2018 to a peak of 6.63% in 2019, before declining gradually to 1.98% in 2023. This indicates variability in liquidity management or cash holdings over the years, with a notable reduction in the most recent period.
Accounts Receivable (Net)
This item maintained relative stability, ranging between approximately 12.97% and 14.48% of total assets. There was a mild decline from 14.48% in 2018 to a low of 12.97% in 2020, followed by a gradual increase back to 14.22% in 2023, suggesting consistent credit sales and receivables management.
Inventories
Inventories showed a trend of gradual increase from 6.61% in 2018 to 6.57% in 2023, after an initial drop to 4.29% in 2019. This upward movement in recent years may indicate a buildup of stock or changes in production and sales cycles, reflecting inventory management strategies.
Current Assets Held for Sale
This category was present intermittently, appearing only in 2019 and 2022 with small percentages (0.23% and 0.92%, respectively), and otherwise absent. This suggests occasional divestitures or assets marked for disposal during certain periods.
Other Current Assets
Other current assets experienced fluctuations but overall remained modest, ranging from 2.37% to 4.51%. The highest value occurred in 2019, followed by a stabilization around 2.65% in 2023, indicating lesser volatility in these components.
Current Assets (Total)
The proportion of current assets relative to total assets showed variability, peaking at 29.31% in 2019 and experiencing troughs in the low twenties in other years. The decline from the 2019 peak to 25.42% in 2023 suggests a gradual shift towards greater long-term asset investment or changes in working capital structure.
Property, Plant, and Equipment, Net
Investments in property, plant, and equipment decreased significantly from 12.65% in 2018 to a low near 7.22%-7.71% in subsequent years, stabilizing around 7.42% in 2023. This decline suggests lesser capital expenditure or asset disposals affecting tangible fixed assets.
Goodwill
Goodwill remained the largest single component, consistently representing over 39% and peaking at 43.93% in 2020. Although it slightly decreased to 41.1% in 2022, it rebounded to 42.46% in 2023, highlighting a significant presence of acquired intangible value within total assets.
Other Intangible Assets, Net
These assets stayed relatively stable around 13% through 2021, but declined to approximately 11% in 2022 and 2023, indicating some diminution of intangible asset values or amortization effects.
Investments in Partially-Owned Affiliates
This category fluctuated moderately between 2.02% and 2.67%, suggesting steady but small stakes in joint ventures or associates without major strategic shifts.
Noncurrent Assets Held for Sale
Noncurrent assets held for sale appeared sporadically, with minor proportions increasing from 0.14% in 2019 to 1.78% in 2022 before disappearing again in 2023, implying occasional planned asset divestitures.
Other Noncurrent Assets
Other noncurrent assets showed an increasing trend, growing from 4.31% in 2019 to 10.63% in 2023. This expansion suggests accumulation in long-term miscellaneous assets, potentially reflecting investments or deferred charges.
Noncurrent Assets (Total)
Overall, noncurrent assets consistently represented the majority portion of total assets, ranging from about 70.69% to 76.13%. Although there was a dip to 70.69% in 2019, the proportion rebounded and stabilized near 74%-76% in recent years, signaling the company's asset base is heavily weighted toward long-term holdings.
Total Assets
The percentages are presented relative to total assets, which by definition equate to 100% in all periods, establishing the context for the asset composition analysis.