Name: National Oilwell Varco Inc. (NYSE:NOV) | Common-Size Assets
Creator: Stock Analysis on Net

Common-Size Balance Sheet: Assets

National Oilwell Varco Inc., common-size consolidated balance sheet: assets

	Dec 31, 2015	Dec 31, 2014	Dec 31, 2013	Dec 31, 2012	Dec 31, 2011
Cash and cash equivalents	7.78%	10.54%	9.87%	10.54%	13.85%
Receivables, net	10.95%	13.16%	14.06%	13.72%	12.90%
Inventories, net	17.50%	15.74%	16.10%	18.71%	15.79%
Costs in excess of billings	4.68%	5.60%	4.42%	3.89%	2.32%
Deferred income taxes	1.41%	1.33%	1.07%	1.11%	1.32%
Prepaid and other current assets	1.84%	1.80%	1.65%	1.82%	1.27%
Current assets	44.16%	48.16%	47.18%	49.80%	47.46%
Property, plant and equipment, net	11.69%	10.02%	9.79%	9.35%	9.58%
Deferred income taxes	1.83%	1.50%	1.07%	1.31%	1.05%
Goodwill	26.12%	25.44%	25.99%	22.78%	24.11%
Intangibles, net	14.40%	13.24%	14.52%	15.06%	15.96%
Investment in unconsolidated affiliates	1.22%	1.08%	1.12%	1.25%	1.53%
Other assets	0.58%	0.57%	0.33%	0.44%	0.31%
Noncurrent assets	55.84%	51.84%	52.82%	50.20%	52.54%
Total assets	100.00%	100.00%	100.00%	100.00%	100.00%

Based on: 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31).

The asset composition shows a gradual shift from current to noncurrent assets over the five-year period. While current assets represented nearly half of the total asset base between 2011 and 2014, there is a notable decline to 44.16% by the end of 2015, coinciding with an increase in noncurrent assets to 55.84%.

Liquidity and Cash Position: A consistent downward trend is observed in cash and cash equivalents, which decreased from 13.85% of total assets in 2011 to 7.78% in 2015. This indicates a reduction in the proportion of highly liquid assets relative to the overall balance sheet size.
Working Capital Components: Receivables, net, peaked at 14.06% in 2013 before declining to 10.95% in 2015. Inventories remained a significant portion of the asset base, fluctuating between 15.74% and 18.71%, with a peak in 2012. Additionally, costs in excess of billings showed a general upward trajectory, rising from 2.32% in 2011 to a peak of 5.60% in 2014, suggesting an increase in unbilled project costs.
Fixed and Long-term Asset Trends: Property, plant and equipment, net, experienced a gradual increase from 9.58% in 2011 to 11.69% in 2015. Deferred income taxes within noncurrent assets also trended upward, moving from 1.05% to 1.83% over the same period.
Intangible Asset Concentration: The asset structure is heavily weighted toward intangible value. Goodwill remained relatively stable and significant, ranging between 22.78% and 26.12%. Intangibles, net, showed a slight decline from 15.96% in 2011 to 14.40% in 2015. Together, goodwill and intangibles consistently represented approximately 38% to 41% of the total asset base throughout the period analyzed.

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