Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Selected Financial Data since 2013
- Net Profit Margin since 2013
- Total Asset Turnover since 2013
- Price to Sales (P/S) since 2013
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RH, common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)
Based on: 10-Q (reporting date: 2023-04-29), 10-K (reporting date: 2023-01-28), 10-Q (reporting date: 2022-10-29), 10-Q (reporting date: 2022-07-30), 10-Q (reporting date: 2022-04-30), 10-K (reporting date: 2022-01-29), 10-Q (reporting date: 2021-10-30), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-05-01), 10-K (reporting date: 2021-01-30), 10-Q (reporting date: 2020-10-31), 10-Q (reporting date: 2020-08-01), 10-Q (reporting date: 2020-05-02), 10-K (reporting date: 2020-02-01), 10-Q (reporting date: 2019-11-02), 10-Q (reporting date: 2019-08-03), 10-Q (reporting date: 2019-05-04), 10-K (reporting date: 2019-02-02), 10-Q (reporting date: 2018-11-03), 10-Q (reporting date: 2018-08-04), 10-Q (reporting date: 2018-05-05), 10-K (reporting date: 2018-02-03), 10-Q (reporting date: 2017-10-28), 10-Q (reporting date: 2017-07-29), 10-Q (reporting date: 2017-04-29).
- Accounts payable and accrued expenses
- The proportion of accounts payable and accrued expenses relative to total liabilities and stockholders' equity exhibited fluctuations over the analyzed periods. Initially rising from about 12% in April 2017 to a peak near 18% in early 2018, it subsequently declined, reaching lows below 7% during 2021 and early 2023, indicating a reduced reliance on these obligations within total funding structure.
- Deferred revenue and customer deposits
- This category showed moderate variability, generally ranging between approximately 6% and 11%. The values increased up to around 11.5% in mid-2021, then dipped back to near 6% by early 2023, suggesting shifting patterns in advance payments or customer deposits over the period.
- Convertible senior notes
- Several issues of convertible senior notes are represented with varying maturities. Overall, these notes formed a significant share of total liabilities at times, particularly notable in the 2017-2019 periods (e.g., due 2019 peaking close to 19%). Over time, the shares of these obligations significantly decreased, especially for notes due in 2023 and 2024, where percentages declined to below 1% by the latest periods, reflecting repayments or conversions.
- Current operating lease liabilities
- Current operating lease liabilities remained relatively stable around 2-2.5% for most of the timeframe until mid-2021, after which they declined steadily to approximately 1.3-1.5% by early 2023, indicating a reduction in short-term lease obligations.
- Other current liabilities
- Other current liabilities experienced some volatility, initially fluctuating between roughly 2% and 6%, with a notable peak near 6% in late 2020. From mid-2021 onwards, these liabilities decreased gradually to about 1.9% by early 2023, consistent with overall declines in current obligations.
- Current liabilities
- The share of current liabilities in total funding peaked strongly near 50% in early 2018 but overall exhibited a downward trend from nearly 30% in 2017 to approximately 16% by early 2023. This trend suggests a shift towards longer-term financing or repayment of short-term obligations over time.
- Term loans and related debt instruments
- Term loan B and subsequent related tranches emerged prominently from late 2021, accounting for significant proportions (around 33% to 36%). This indicates a strategic shift toward longer-term debt instruments. Other term loans and credit facilities showed sporadic appearances and smaller relative shares.
- Equipment promissory notes
- These liabilities declined consistently from around 1.6% in mid-2019 to near zero by mid-2020, showing repayment or reclassification of such obligations.
- Non-current operating lease liabilities
- Non-current operating lease liabilities stayed mostly in the 15-17% range until early 2021, after which a marked decline occurred, falling to under 10% by early 2023. This reduction may be associated with lease terminations or modifications.
- Non-current finance lease liabilities
- Initially rising above 18% in 2018 and 2019, these liabilities decreased notably from 2020 onward, reaching around 10-12% by early 2023, reflecting a reduced finance lease burden.
- Other non-current obligations
- After a rise from about 2.3% to over 4% in the 2017-2018 period, other non-current obligations diminished progressively to approximately 0.15% by early 2023, confirming a trend of de-leveraging or settlement of miscellaneous long-term liabilities.
- Non-current liabilities overall
- The share of non-current liabilities fluctuated widely, peaking near 75% in 2017-2018, then declining to about 40% in 2021, before rising again to roughly 68% by early 2023. These oscillations reflect dynamic refinancing, bond maturities, and shifts between current and long-term classifications.
- Total liabilities
- While total liabilities as a proportion of total funding sources exceeded 100% at times (notably in mid-2017 and 2018 to 2019), they generally trended downward from over 100% to the range of 78-85% by early 2023, indicating progressive improvement in the equity base and reduction of liabilities relative to total capitalization.
- Stockholders’ equity
- Stockholders’ equity exhibited substantial variability, starting at about 32% in early 2017, turning negative during most of 2017-2019, and then recovering steadily from 2020 onward, reaching approximately 15-24% by 2023. This recovery reflects improvements in retained earnings and overall financial health.
- Retained earnings
- Retained earnings showed an increasing trend from about 7.5% in early 2017, dipping significantly into negative territory in 2018 and 2019 (as low as -22%), then recovering strongly post-2020 to positive levels exceeding 16% by 2022-2023, indicating a recovery in cumulative profitability or reduction in accumulated deficits.
- Additional paid-in capital
- This component displayed a pronounced decline from near 53% in early 2018 to below 5% in 2022 and 2023, suggesting share repurchases, dividends, or other transactions impacting paid-in capital structure.
- Treasury stock
- Treasury stock values showed substantial negative peaks primarily in 2017-2018, indicating share repurchases. In later periods, data is sparse or minimal, suggesting reduced activity or different accounting treatments.