Common-Size Balance Sheet: Assets
Sherwin-Williams Co., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets showed a fluctuating trend, starting at 1.11% in 2020, dipping to its lowest at 0.8% in 2021, increasing to a peak of 1.21% in 2023, before declining again to 0.89% in 2024. This indicates modest variability in liquidity levels over the reviewed periods.
- Accounts Receivable, Net
- Accounts receivable as a percentage of total assets increased from 10.19% in 2020 to a high of 11.38% in 2021, then exhibited a gradual decline to 10.11% by 2024. This suggests an initial accumulation of receivables followed by a steady reduction, potentially reflecting improved collection processes or sales mix changes.
- Inventories
- Inventory levels relative to total assets rose from 8.84% in 2020 to 11.62% in 2022, marking the highest level in the period, then gradually decreased to 9.68% by 2024. This pattern may indicate inventory buildup in earlier years followed by better inventory management or adjustments to demand forecasts.
- Other Current Assets
- The share of other current assets fluctuated modestly, increasing to 2.94% in 2021, then declining to 1.91% in 2023, with a slight recovery to 2.17% in 2024. This variability points to changes in miscellaneous short-term asset components.
- Current Assets
- Current assets as a percentage of total assets increased from 22.51% in 2020 to a peak of 26.15% in 2022, followed by a downward trend reaching 22.85% in 2024. This reflects an overall moderate increase in current asset holdings until 2022, then a reversion toward initial levels, indicating potential shifts in liquidity or operational needs.
- Property, Plant and Equipment, Net
- The net share of property, plant, and equipment steadily increased throughout the period from 8.99% in 2020 to 14.95% in 2024. This signals continued investment or capital expenditure in tangible assets over time.
- Finance Lease Right-of-Use Assets
- A new component appeared in 2024, accounting for 0.79% of total assets, reflecting the adoption or reporting of finance lease assets that previous periods did not reflect, contributing to the asset base.
- Property, Plant and Equipment, Including Finance Lease Right-of-Use Assets
- When including finance lease right-of-use assets, the total increased from 8.99% in 2020 to 15.74% in 2024, showing a consistent upward trend that underscores growth in fixed assets and leased asset recognition.
- Goodwill
- Goodwill as a proportion of total assets showed a gradual decline from 34.55% in 2020 to 32.07% in 2024. This slow decrease might reflect amortization, impairments, or divestitures affecting intangible goodwill components.
- Intangible Assets
- Intangible assets decreased steadily from 21.92% of total assets in 2020 to 14.95% in 2024. The decline suggests amortization or disposals of intangible assets over time, with a potentially reduced emphasis on these asset types.
- Operating Lease Right-of-Use Assets
- The share of operating lease right-of-use assets remained relatively stable, fluctuating slightly between 8.22% and 8.81% across the periods, indicating consistent recognition of lease assets under operating leases.
- Other Assets
- Other assets grew progressively from 3.4% of total assets in 2020 to 6.11% in 2024, more than doubling their share. This growth suggests increasing importance or accumulation of miscellaneous long-term assets.
- Long-term Assets
- Long-term assets as a portion of total assets remained relatively stable but showed minor fluctuations, decreasing from 77.49% in 2020 to 73.85% in 2022, then rising back to 77.15% by 2024. This stability indicates a consistent asset structure focused on long-term holdings.
- Total Assets
- Total assets are consistently represented as 100% across all years, serving as the baseline for proportion calculations.