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Parker-Hannifin Corp. (NYSE:PH)

This company has been moved to the archive! The financial data has not been updated since February 7, 2023.

Common-Size Balance Sheet: Assets
Quarterly Data

Parker-Hannifin Corp., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019 Dec 31, 2018 Sep 30, 2018 Jun 30, 2018 Mar 31, 2018 Dec 31, 2017 Sep 30, 2017 Jun 30, 2017 Mar 31, 2017 Dec 31, 2016 Sep 30, 2016
Cash and cash equivalents 2.48 1.68 2.07 2.07 2.01 2.36 3.60 2.47 2.85 3.75 3.47 3.43 4.51 18.54 18.32 7.10 6.84 6.17 5.37 6.71 6.42 5.56 5.71 5.35 12.96 11.64
Marketable securities and other investments 0.07 0.07 0.11 0.17 0.18 0.20 0.19 0.20 0.22 0.17 0.36 0.45 0.69 1.44 0.86 0.45 0.20 0.26 0.22 0.62 0.68 0.63 0.25 0.24 5.83 6.24
Trade accounts receivable, net 8.45 8.84 9.03 10.46 9.12 10.42 10.73 10.68 9.16 9.40 9.39 10.68 9.38 10.13 12.12 13.68 12.66 13.39 14.00 13.22 11.63 12.22 12.46 12.20 12.03 12.52
Non-trade and notes receivable 1.22 1.25 2.10 1.45 1.41 1.56 1.60 1.56 1.58 1.38 1.24 1.58 1.52 1.48 1.77 2.05 2.12 2.02 2.14 2.02 1.96 1.69 1.65 1.54 2.19 2.09
Inventories 10.14 10.45 8.54 10.34 10.30 11.19 10.28 9.57 9.44 9.08 9.19 9.88 9.57 9.15 9.55 11.35 11.79 11.43 10.58 10.67 11.15 10.85 10.00 10.04 10.58 10.43
Prepaid expenses and other 1.51 1.64 24.60 12.01 12.29 2.09 1.20 0.97 0.97 0.83 1.09 0.90 1.24 0.85 1.04 1.15 1.23 1.07 0.88 1.02 1.27 0.85 0.78 0.78 1.14 1.21
Current assets 23.87% 23.93% 46.43% 36.50% 35.31% 27.83% 27.61% 25.45% 24.21% 24.61% 24.75% 26.92% 26.90% 41.59% 43.65% 35.78% 34.85% 34.35% 33.19% 34.26% 33.11% 31.81% 30.86% 30.14% 44.73% 44.12%
Property, plant and equipment 22.05 21.66 22.73 26.70 26.88 29.74 29.69 30.19 30.40 29.83 29.44 28.23 27.65 26.93 29.51 33.52 33.92 33.76 34.04 33.03 33.20 33.64 33.48 33.48 39.67 39.78
Accumulated depreciation -12.75 -12.47 -14.55 -17.06 -17.04 -18.76 -18.55 -18.85 -18.78 -18.24 -17.82 -16.95 -16.55 -17.33 -19.45 -22.03 -22.20 -21.91 -21.93 -21.07 -21.07 -21.17 -20.98 -20.78 -26.83 -26.72
Property, plant and equipment, net 9.30% 9.19% 8.18% 9.64% 9.84% 10.99% 11.14% 11.34% 11.61% 11.59% 11.62% 11.28% 11.10% 9.61% 10.06% 11.50% 11.72% 11.85% 12.12% 11.96% 12.13% 12.48% 12.51% 12.70% 12.84% 13.06%
Deferred income taxes 0.44 0.42 0.43 0.64 0.65 0.72 0.51 0.63 0.68 0.66 0.64 0.61 0.54 0.74 0.86 0.62 0.65 0.65 0.38 0.23 0.23 0.22 0.23 0.43 4.11 4.14
Investments and other assets 3.95 3.79 3.04 3.50 3.55 3.95 3.81 3.99 4.01 3.94 3.87 3.69 4.47 4.56 4.25 4.97 4.79 4.91 5.23 5.02 5.21 5.30 5.44 5.53 7.10 6.83
Intangible assets, net 27.48 28.00 12.09 14.43 14.93 16.93 17.30 18.12 18.64 18.92 19.25 19.06 19.18 13.77 10.15 11.85 12.31 12.68 13.16 13.15 13.62 14.08 14.90 15.26 7.24 7.53
Goodwill 34.96 34.67 29.83 35.28 35.72 39.58 39.62 40.48 40.86 40.29 39.87 38.45 37.80 29.73 31.03 35.28 35.69 35.56 35.93 35.39 35.69 36.10 36.07 35.95 23.98 24.32
Noncurrent assets 76.13% 76.07% 53.57% 63.50% 64.69% 72.17% 72.39% 74.55% 75.79% 75.39% 75.25% 73.08% 73.10% 58.41% 56.35% 64.22% 65.15% 65.65% 66.81% 65.74% 66.89% 68.19% 69.14% 69.86% 55.27% 55.88%
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% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-K (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-K (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-K (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-Q (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-K (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-Q (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-K (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-Q (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-K (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31), 10-Q (reporting date: 2016-12-31), 10-Q (reporting date: 2016-09-30).

The asset composition demonstrates a long-term structural shift from a more liquid profile toward a heavier concentration of noncurrent assets, specifically within intangible assets and goodwill. This transition is evidenced by the increase in noncurrent assets from 55.88% in September 2016 to 76.13% by December 2022.

Liquidity and Current Asset Dynamics
Cash and cash equivalents exhibited significant volatility over the period. After starting at 11.64% in September 2016, the ratio declined and subsequently spiked to a peak of 18.54% in June 2019, before entering a steady decline to 2.48% by the end of 2022. Trade accounts receivable and inventories remained relatively stable, although receivables showed a gradual downward trend from 12.52% to 8.45%. Overall current assets fluctuated significantly, reflecting varying levels of liquidity and short-term asset management.
Intangible Assets and Goodwill Trends
There is a pronounced increase in the weight of intangible assets and goodwill, suggesting a strategy centered on acquisitions. Goodwill rose from 24.32% in 2016 to a peak of 40.86% in December 2020, settling at 34.96% by late 2022. Net intangible assets showed a similar upward trajectory, increasing from 7.53% to 27.48% by December 2022, with a sharp spike to 28% observed in September 2022.
Fixed Asset Analysis
Net property, plant, and equipment (PP&E) experienced a gradual decline as a percentage of total assets, moving from 13.06% in September 2016 to 9.30% in December 2022. While gross PP&E decreased from nearly 40% to approximately 22% of total assets, the net value was supported by a reduction in the ratio of accumulated depreciation, which fell from a peak of -26.83% in late 2016 to -12.75% by the end of 2022.
Observation of Asset Anomalies
A significant anomaly is observed in the "Prepaid expenses and other" category. This item remained consistently low, generally under 2%, for the majority of the observed period. However, a substantial spike occurred in mid-2022, reaching 24.60% in June 2022, before reverting to 1.51% by December 2022. This temporary surge caused a corresponding short-term inflation of total current assets during that quarter.

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