Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Solvency Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Current Ratio since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Parker-Hannifin Corp., consolidated cash flow statement (quarterly data)
US$ in thousands
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).
- Net Income
- The net income figures exhibit considerable volatility across the analyzed periods, with notable peaks around March 2018 and March 2019, where values exceeded 300 million USD. There was a significant dip in December 2017 to approximately 56 million USD, followed by a recovery and another dip during 2020 that coincides with the global pandemic period. The later quarters of 2021 and 2022 show a declining trend in net income, suggesting challenges or strategic shifts affecting profitability.
- Depreciation and Amortization
- Depreciation remained relatively stable, fluctuating between approximately 45 million and 87 million USD. Amortization displayed a rising trend, notably increasing sharply from late 2019 into 2022, reaching its peak at over 142 million USD by the end of 2022. This upward trend in amortization may indicate increased intangible asset acquisitions or write-downs.
- Stock Incentive Plan Compensation
- Compensation related to stock incentives showed irregular fluctuations, with intermittent spikes such as in September 2017, September 2019, and December 2021, all surpassing 50 million USD. These peaks may reflect periods of enhanced employee incentive payouts or restructuring activities.
- Deferred Income Taxes
- The deferred income taxes figures display considerable volatility with alternating positive and negative values. Significant negative spikes occurred towards the end of 2017 and mid-2022, implying potential tax asset write-downs or changes in tax regulation impacting deferred tax calculations.
- Foreign Currency Transaction Gain/Loss
- Foreign currency effects have shown meaningful variation, with alternating gains and losses. Notable gains are seen in December 2022, suggesting currency exchange rate fluctuations have materially impacted net results over several quarters.
- Gain/Loss on Disposal and Sale of Assets
- Gains and losses on disposal of property, plant and equipment and sales of businesses demonstrate sporadic substantial impacts. For example, a significant loss was recorded in December 2020 related to the disposal of property and a sizeable loss occurred in September 2022 related to business sales. This suggests active portfolio adjustments during these periods.
- Accounts Receivable and Inventories
- Both accounts receivable and inventories exhibit high volatility with occasional large negative values indicating possible write-offs or adjustments. The swings suggest substantial changes in operational working capital and inventory management challenges or business restructuring across the quarters.
- Accounts Payable and Accrued Liabilities
- Trade accounts payable fluctuated significantly, with substantial positive and negative adjustments, indicating changes in payment terms or supplier relationships. Other accrued liabilities similarly swung widely, including extremely large increases in late 2021 and 2022, potentially linked to deferred charges or contingent liabilities.
- Cash Flow from Operating Activities
- Net cash provided by operations demonstrated a general upward trend with pronounced increases from 2018 onwards, peaking notably in mid-2019 and early 2022. This reflects a strengthening of cash generation capacity despite income volatility and suggests operational efficiency improvements or favorable working capital management during these periods.
- Investing Activities
- Net cash flows from investing activities are characterized by significant outflows, particularly large negative values in early 2017, late 2019, and late 2022. Heavy capital expenditures occurred consistently each quarter, with capital spend rising sharply in late 2022. Large negative investing cash flows are partially attributable to sizeable acquisitions and purchases of securities.
- Financing Activities
- Financing cash flows exhibit high variability with sizable inflows in the form of notes payable and long-term borrowings, offset intermittently by major repayments and share repurchases. Dividends paid remained relatively stable but increased slightly toward the end of the period. The presence of substantial issuance and repayments of debt suggests active balance sheet management and capital structure adjustments.
- Cash and Cash Equivalents
- The net changes in cash and equivalents were highly volatile, with large increases in mid-2019 and late 2021, but also sharp declines such as in March 2017 and late 2019. This volatility aligns with the variability observed in operating, investing, and financing activities, reflecting a dynamic liquidity position across the quarters.