Stock Analysis on Net
Stock Analysis on Net

National Oilwell Varco Inc. (NYSE:NOV)

This company has been moved to the archive! The financial data has not been updated since August 3, 2016.

Common-Size Balance Sheet: Assets 
Quarterly Data

National Oilwell Varco Inc., common-size consolidated balance sheet: assets (quarterly data)

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Jun 30, 2016 Mar 31, 2016 Dec 31, 2015 Sep 30, 2015 Jun 30, 2015 Mar 31, 2015 Dec 31, 2014 Sep 30, 2014 Jun 30, 2014 Mar 31, 2014 Dec 31, 2013 Sep 30, 2013 Jun 30, 2013 Mar 31, 2013 Dec 31, 2012 Sep 30, 2012 Jun 30, 2012 Mar 31, 2012 Dec 31, 2011 Sep 30, 2011 Jun 30, 2011 Mar 31, 2011
Cash and cash equivalents 6.98 7.11 7.78 6.23 8.15 9.33 10.54 11.94 11.48 10.39 9.87 7.91 6.93 7.27 10.54 5.94 6.89 12.90 13.85 15.77 14.48 13.21
Receivables, net 8.59 8.94 10.95 11.22 11.13 12.41 13.16 13.08 13.09 14.97 14.06 13.85 13.17 12.75 13.72 14.07 13.87 12.67 12.90 12.67 11.99 11.91
Inventories, net 18.02 18.32 17.50 17.46 17.27 16.59 15.74 15.94 15.37 15.95 16.10 17.53 18.11 18.28 18.71 20.90 19.76 17.23 15.79 15.92 15.81 15.42
Costs in excess of billings 3.32 4.20 4.68 5.63 5.80 5.94 5.60 4.71 4.63 4.28 4.42 4.73 4.31 3.97 3.89 3.72 3.42 3.08 2.32 2.16 2.10 3.21
Deferred income taxes 0.00 0.00 1.41 1.32 1.22 1.17 1.33 1.16 0.98 0.92 1.07 1.07 1.07 0.99 1.11 1.00 1.02 1.34 1.32 1.15 1.27 1.28
Prepaid and other current assets 1.77 2.03 1.84 1.79 1.80 1.75 1.80 1.81 1.76 2.00 1.65 1.80 1.72 1.41 1.82 2.07 1.79 1.62 1.27 1.38 1.60 1.34
Current assets 38.70% 40.59% 44.16% 43.65% 45.37% 47.18% 48.16% 48.64% 47.31% 48.51% 47.18% 46.88% 45.31% 44.68% 49.80% 47.68% 46.76% 48.83% 47.46% 49.05% 47.26% 46.38%
Property, plant and equipment, net 13.78 13.34 11.69 10.54 10.41 9.92 10.02 9.85 10.17 9.69 9.79 9.61 9.56 9.58 9.35 9.83 9.70 9.63 9.58 8.01 8.09 8.04
Deferred income taxes 0.62 0.58 1.83 1.76 1.71 1.72 1.50 1.26 1.40 1.35 1.07 1.07 1.18 1.18 1.31 1.12 0.86 0.78 1.05 0.79 0.75 0.68
Goodwill 29.37 28.29 26.12 28.57 27.24 26.24 25.44 25.14 25.54 25.01 25.99 26.06 26.78 26.84 22.78 24.21 24.85 23.61 24.11 24.21 25.04 25.51
Intangibles, net 15.59 15.35 14.40 13.79 13.63 13.23 13.24 13.70 14.21 13.96 14.52 14.94 15.79 16.09 15.06 15.46 16.21 15.23 15.96 16.28 17.10 17.39
Investment in unconsolidated affiliates 1.32 1.31 1.22 1.12 1.05 1.11 1.08 1.04 1.04 1.13 1.12 1.08 1.06 1.22 1.25 1.29 1.31 1.56 1.53 1.51 1.52 1.74
Other assets 0.62 0.53 0.58 0.57 0.58 0.59 0.57 0.36 0.33 0.35 0.33 0.36 0.32 0.41 0.44 0.40 0.31 0.37 0.31 0.15 0.24 0.27
Noncurrent assets 61.30% 59.41% 55.84% 56.35% 54.63% 52.82% 51.84% 51.36% 52.69% 51.49% 52.82% 53.12% 54.69% 55.32% 50.20% 52.32% 53.24% 51.17% 52.54% 50.95% 52.74% 53.62%
Total assets 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: 2016-06-30), 10-Q (reporting date: 2016-03-31), 10-K (reporting date: 2015-12-31), 10-Q (reporting date: 2015-09-30), 10-Q (reporting date: 2015-06-30), 10-Q (reporting date: 2015-03-31), 10-K (reporting date: 2014-12-31), 10-Q (reporting date: 2014-09-30), 10-Q (reporting date: 2014-06-30), 10-Q (reporting date: 2014-03-31), 10-K (reporting date: 2013-12-31), 10-Q (reporting date: 2013-09-30), 10-Q (reporting date: 2013-06-30), 10-Q (reporting date: 2013-03-31), 10-K (reporting date: 2012-12-31), 10-Q (reporting date: 2012-09-30), 10-Q (reporting date: 2012-06-30), 10-Q (reporting date: 2012-03-31), 10-K (reporting date: 2011-12-31), 10-Q (reporting date: 2011-09-30), 10-Q (reporting date: 2011-06-30), 10-Q (reporting date: 2011-03-31).

Current Assets Composition
Cash and cash equivalents as a percentage of total assets displayed a fluctuating trend, initially decreasing sharply from 13.21% in March 2011 to a low of 5.94% in September 2012, before partially recovering to stabilize around 7% toward mid-2016. Receivables, net, showed a slight increase from about 11.9% in early 2011 to a peak near 14% in late 2013, after which a consistent decline ensued, reaching approximately 8.6% by mid-2016. Inventories, net, exhibited an overall gradual increase, rising from 15.4% in early 2011 to about 18% by mid-2016, with mild volatility in between. Costs in excess of billings grew steadily from 3.2% in early 2011 to a high near 5.9% at the end of 2014, then declined to about 3.3% by mid-2016. Prepaid and other current assets remained relatively stable with minor fluctuations, generally ranging between 1.3% and 2.0% throughout the period. Collectively, current assets as a percentage of total assets decreased gradually from about 46% in early 2011 to under 39% by mid-2016, indicating a moderate decline in short-term asset holdings relative to the total asset base.
Noncurrent Assets Structure
Property, plant, and equipment, net, showed a clear upward trend from around 8% of total assets in early 2011 to nearly 14% by mid-2016, reflecting ongoing investments in fixed assets. Goodwill maintained a dominant proportion in the total assets, ranging between 22.8% and 29.4%, with a modest increase seen particularly after 2013, peaking above 29% in mid-2016. Intangible assets, net, experienced a slight decline from approximately 17.4% in early 2011 to around 13.2%-15.6% during 2014-2016, suggesting amortization or impairment effects over time. Investment in unconsolidated affiliates remained relatively stable, mostly fluctuating slightly above or below 1%, without significant trend changes. Other assets remained minimal but somewhat increased, especially in late 2014 through mid-2016, peaking near 0.6%. Noncurrent assets as a total percentage of assets rose steadily from roughly 54% in early 2011 to over 61% by mid-2016, indicating a growing emphasis on long-term asset investment.
Deferred Income Taxes
Deferred income taxes had two entries likely representing current and noncurrent portions. The first entry (possibly current deferred tax assets) averaged around 1% with minor variability, while the second entry (likely noncurrent) showed a modest rise from less than 1% in early 2011 to approximately 1.8% by late 2015, followed by a sharp drop below 0.7% in mid-2016. This suggests some reclassification or changes in deferred tax positions toward the end of the period.
Overall Asset Allocation
Total assets remained normalized at 100% throughout the periods, enabling direct comparison of internal structural changes. The data reveals a strategic shift from current assets toward noncurrent assets over the five-year span, with capital-intensive fixed assets and goodwill becoming increasingly prominent. Concurrently, liquid assets and receivables as a share of total assets declined, indicating a possible focus on longer-term investments and operational assets rather than short-term liquidity holdings.