Common-Size Balance Sheet: Assets
Quarterly Data
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Marathon Petroleum Corp. pages available for free this week:
- Balance Sheet: Assets
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Equity (ROE) since 2011
- Current Ratio since 2011
- Debt to Equity since 2011
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Marathon Petroleum Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 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).
- Cash and cash equivalents
- The proportion of cash and cash equivalents as a percentage of total assets showed a gradual increase starting from 0.91% in March 2019 with notable fluctuations. It peaked sharply at 12.55% in June 2021, followed by a decline and stabilization around 5-9% through 2024, indicating some variability in liquidity management.
- Short-term investments
- Short-term investments commenced reporting in June 2021 at 5.75%, rising to 8.23% in September 2021, then gradually declining to 1.43% by September 2024. This pattern suggests initial accumulation followed by gradual liquidation or reallocation of short-term investment assets.
- Receivables, net
- Receivables as a percentage of total assets fluctuated between approximately 5.16% and 17.89%. A decline was observed until mid-2020, after which there was a distinct increase, peaking at 17.89% in June 2022. More recent quarters show a downward adjustment, stabilizing near 12-15%, indicating shifts in credit sales or collection efficiency over the period.
- Inventories
- Inventory levels remained relatively stable as a percentage of total assets, generally oscillating around 9-12%. Some upward movement was noted in 2022 and early 2023, reaching as high as 12.38% in September 2024, which may reflect inventory build-up relative to total assets.
- Other current assets
- This category showed minor variations, initially low under 1%, with a peak at 3.2% in December 2019, followed by fluctuating values mostly below 1.5% in recent years. The small and inconsistent changes imply limited impact on overall current asset composition.
- Assets held for sale
- Data was sporadic, with a significant portion (~13%) reported in late 2020 but essentially absent in other periods. This indicates a temporary classification of assets for sale during that timeframe.
- Current assets
- The percentage of current assets to total assets rose substantially from 18.82% in Q1 2019 to a peak above 43% in mid-2022. Post-2022, the metric declined moderately to about 32.5% by late 2024, reflecting dynamic shifts between current and noncurrent classifications or changes in asset structure.
- Equity method investments
- Equity method investments maintained a relatively stable proportion of total assets, fluctuating narrowly between approximately 5.69% and 8.74%, showing no significant upward or downward trend but a slight increase towards the later periods.
- Property, plant and equipment, net
- This asset component decreased from 46-53% range in 2019-2020 down to roughly 38-43% during 2021-2024, with some fluctuations. This gradual reduction as a percentage of total assets suggests either asset disposals, impairments, or increased asset diversification.
- Goodwill
- Goodwill experienced a marked reduction from approximately 21% in early 2019 down to a low around 8.5-10% in subsequent years, maintaining a relatively stable level near 9-10% through 2023 and 2024. This decline may reflect impairments, divestitures, or revaluation adjustments.
- Operating lease right of use assets
- These assets steadily declined slightly from about 2.78% in Q1 2019 to approximately 1.3-1.5% in recent years, suggesting decreased lease asset recognition or lease term adjustments over the period.
- Other noncurrent assets
- The percentage of other noncurrent assets showed minor fluctuations but generally remained between 2.3% and 3.7%, indicating a stable contribution to total asset composition without significant trend changes.
- Noncurrent assets
- Noncurrent assets comprised the majority of total assets throughout the period, initially near 81%, dipping to a low around 56% in mid-2022, then recovering to near 67% by late 2024. This suggests shifts in asset classification, increased current assets proportion, or disposals affecting noncurrent asset balances.
- Total assets
- As expected, total assets sum to 100% each quarter, serving as the baseline for all percentage compositions analyzed.