Common-Size Balance Sheet: Assets
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- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Geographic Areas
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2010
- Return on Equity (ROE) since 2010
- Return on Assets (ROA) since 2010
- Price to Operating Profit (P/OP) since 2010
- Price to Book Value (P/BV) since 2010
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Based on: 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets fluctuated over the period, starting at a low 0.27% in 2015 and peaking at 4.16% in 2018 before dropping sharply to 0.25% in 2019. This indicates variability in liquid asset holdings, with a notable accumulation in 2018 followed by reduction.
- Restricted deposits
- Restricted deposits steadily decreased as a percentage of total assets from 0.07% in 2015 to 0.03% in 2019, reflecting a declining trend in assets that are limited in use.
- Marketable securities at fair value
- Marketable securities data is only available for 2019, comprising 1.25% of total assets. This may suggest a new focus or increase in investment in marketable securities during the last year analyzed.
- Accounts receivable, net
- Accounts receivable showed a gradual increase from 1.56% in 2015 to a peak of 1.9% in 2018, followed by a slight decrease to 1.85% in 2019, indicating relatively stable receivables with a slight upward trend over the five years.
- Fair value of derivative contracts
- The relative amount of derivatives decreased consistently from 0.6% in 2015 to 0.11% in 2019, highlighting a reduction in exposure or valuation of derivative financial instruments over time.
- Inventories
- Inventories remained fairly stable throughout the period, fluctuating minimally between 0.44% and 0.54%, suggesting consistent inventory management relative to total assets.
- Other current assets
- Other current assets rose from 0.36% in 2015 to a peak of 0.64% in 2016, then declined and stabilized around 0.3% to 0.38% in later years, indicating some volatility but overall a minor proportion of total assets.
- Current assets
- Current assets showed a notable spike in 2018, increasing from 3.43% in 2017 to 7.26%, primarily driven by increases in cash and cash equivalents. However, in 2019, current assets declined back to 4.37%, indicating a temporary build-up of short-term assets.
- Property, plant and equipment, net
- This category comprised the largest portion of total assets consistently, hovering around 48-51%. A slight increase occurred in 2017 and 2019, indicating sustained investment in fixed assets.
- Investments
- Investments steadily increased from 7.18% in 2015 to 10.46% in 2019, reflecting a growing allocation of assets into investment securities or related holdings.
- Goodwill
- Goodwill remained relatively stable, fluctuating narrowly around 27-29% of total assets, suggesting stable acquisition-related intangible assets during the period.
- Other intangibles, net
- Other intangible assets decreased gradually from 4.22% in 2015 to 3.61% in 2019, indicating a slow reduction in net book value of intangible assets excluding goodwill.
- Deferred income taxes
- The relative portion of deferred income taxes declined significantly from 6.33% in 2015 to 1.16% in 2019, which may reflect changes in tax strategies or asset/liability recognition affecting deferred tax balances.
- Deferred charges and other assets
- This category showed modest fluctuations, with percentages varying between 1.72% and 2.41%, ending slightly higher in 2019 than in 2018, indicating minor changes in longer-term prepaid expenses or similar assets.
- Non-current assets
- Non-current assets accounted for the vast majority of total assets throughout the period, maintaining a range between approximately 93% and 97%, reinforcing the capital-intensive nature of the asset base. A dip to 92.74% occurred in 2018 coinciding with the spike in current assets.
- Total assets
- All categories are expressed as a percentage of total assets, which remained constant at 100%, serving as the reference base for these relative measures.