Common-Size Balance Sheet: Assets
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Norfolk Southern Corp., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets showed a fluctuating trend over the observed period. It decreased from 1.93% in 2017 to a low of 0.99% in 2018, then increased to 2.94% in 2020 before slightly declining again to 2.18% in 2021.
- Accounts Receivable, Net
- This item experienced minor fluctuations, initially rising slightly from 2.67% in 2017 to 2.78% in 2018, followed by a steady decline to 2.23% in 2020, and a modest recovery to 2.54% by 2021.
- Materials and Supplies
- The share of materials and supplies within total assets remained relatively stable throughout the period, with minor variations ranging narrowly between 0.57% and 0.64%.
- Other Current Assets
- Other current assets maintained a consistent level at 0.79% during 2017 and 2018, peaked at 0.89% in 2019, then sharply dropped to 0.35% in both 2020 and 2021, indicating a notable reduction in this category.
- Current Assets
- Total current assets as a percentage of total assets showed variability. After a decrease from 6.02% in 2017 to 5.14% in 2018, the ratio increased to 6.11% in 2020, followed by a decline to 5.63% in 2021. This suggests some volatility in short-term asset liquidity.
- Equity Method Investments
- Equity method investments demonstrated a gradual upward trend, increasing from 6.79% in 2017 to 7.27% in 2021, reflecting a growing proportion of long-term strategic investments.
- COLI at Net Cash Surrender Value
- The company's investment in Corporate-Owned Life Insurance (COLI) increased steadily from 1.48% in 2017 to a peak of 2.38% in 2020, with a slight decrease to 2.30% in 2021, indicating a strategic increment followed by stable maintenance.
- Other Investments
- Other investments remained minimal and relatively stable, fluctuating modestly between 0.04% and 0.07% over the years.
- Long-Term Investments
- Long-term investments showed a consistent increasing trend, advancing from 8.35% in 2017 to 9.63% in 2021, signaling an emphasis on long-term asset growth.
- Properties Less Accumulated Depreciation
- This category represented the largest portion of total assets and generally decreased from 84.93% in 2017 to 82.23% in 2021, indicating a slight decline in net property, plant, and equipment relative to total assets over time.
- Other Assets
- Other assets displayed notable variability, starting at 0.70% in 2017, dropping to 0.49% in 2018, then rising sharply to 2.11% in 2019, slightly declining to 1.87% in 2020, and increasing again to 2.51% in 2021. This suggests increased diversification or recognition of additional asset types.
- Non-Current Assets
- Non-current assets generally accounted for the vast majority of total assets, remaining consistently high between 93.89% and 94.86% throughout the period, reflecting the capital-intensive nature of the asset structure.
- Total Assets
- Total assets are normalized to 100% across all periods, serving as the basis for the relative percentage analyses of component asset categories.