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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)

Microsoft Excel
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).

The asset structure of the organization reflects a strategic shift from current asset liquidity toward a heavier concentration of noncurrent assets. Current assets, which fluctuated between 44% and 49% for much of the 2011 to 2014 period, experienced a notable decline starting in 2015, ending at 38.70% by June 30, 2016. In contrast, noncurrent assets grew from 53.62% in March 2011 to 61.30% by June 30, 2016, indicating an increase in the long-term asset base relative to total assets.

Liquidity and Short-Term Asset Trends
Cash and cash equivalents exhibited significant volatility, starting at 13.21% and peaking at 15.77% in September 2011 before dropping to a low of 5.94% in September 2012. While there was a moderate recovery through 2014, the ratio settled at 6.98% by June 2016, representing a contraction in immediate liquidity. Receivables remained relatively stable between 11% and 15% for several years but showed a sharp decline in 2016, falling to 8.59%.
Inventory and Operational Assets
Inventories, net, showed a general upward trend, increasing from 15.42% in March 2011 to a peak of 20.90% in September 2012, eventually stabilizing around 18.02% by June 2016. Costs in excess of billings peaked between 2014 and 2015, reaching 5.94% in March 2015, before declining to 3.32% by the end of the period.
Fixed and Long-Term Asset Growth
Property, plant and equipment, net, demonstrated consistent growth as a percentage of total assets, rising from 8.04% in March 2011 to 13.78% in June 2016. This suggests an increase in capital investment in physical infrastructure over the five-year period.
Intangible Assets and Goodwill
Goodwill and intangibles constitute the largest portion of the balance sheet. Goodwill fluctuated but generally trended upward, ending at 29.37% in June 2016 compared to 25.51% at the start of the period. Intangibles, net, followed an opposite trajectory, decreasing from 17.39% in March 2011 to a low of 13.23% in March 2015, before recovering slightly to 15.59% by June 2016.

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