Common-Size Balance Sheet: Assets
Quarterly Data
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Based on: 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets shows considerable volatility, with values fluctuating between approximately 0.59% and 2.98%. A notable peak occurred in the third quarter of 2023 at 2.19%, followed by a general decline and relative stabilization around 0.8% to 1.1% in more recent periods. This fluctuation could suggest variable liquidity management or changes in short-term cash reserves.
- Accounts Receivable, Net
- Accounts receivable as a percentage of total assets generally varies within a range of roughly 10% to 13.5%. Peaks were observed around mid-2022 and mid-2023, reaching values near 13.5%, followed by some reduction afterwards. This pattern may indicate periodic increases in credit sales or slower collections during these intervals, impacting working capital.
- Inventories
- Inventory levels as a percentage of total assets present a rising trend from 8.04% in the third quarter of 2020 up to a peak near 11.7% by early 2023. After this peak, a gradual decline and stabilization near 9.8%-10.2% is evident. This suggests initial stock buildup followed by inventory optimization or increased turnover in more recent periods.
- Other Current Assets
- The share of other current assets exhibits relative stability with minor fluctuations, mostly oscillating between 2.0% and 3.1%. A slight upward movement before the end of 2021 is followed by a gradual decrease and modest recovery around 2.1% towards mid-2025, signaling steady non-inventory current asset management.
- Current Assets (Aggregate)
- Current assets as a whole increased from about 22.5% in late 2020 to peak near 28.4% in mid-2022, indicating strengthened short-term asset positions. Subsequently, the ratio decreased to a low around 22.85% in early 2025 but recovered again towards 25.3% by mid-2025, revealing cyclical changes in liquidity and working capital components.
- Property, Plant and Equipment, Net
- There is a clear upward trend in the net property, plant, and equipment share over time, increasing from just under 9% in early 2020 to over 15% by mid-2025. This consistent growth points to ongoing capital investment and asset base expansion, which may support capacity growth or modernization efforts.
- Goodwill
- The proportion of goodwill relative to total assets hovered in the low- to mid-30% range initially, experiencing a gradual decline from around 34.5% in late 2020 to below 31% by mid-2025. The diminishing trend may reflect amortization, impairment, or revaluation adjustments of intangible acquisitions over the analyzed period.
- Intangible Assets
- Intangible assets show a steady and more pronounced decline as a percentage of total assets, dropping from over 22% in early 2020 to less than 14% by mid-2025. This likely indicates amortization expense or divestiture activities affecting intangible asset balances.
- Operating Lease Right-of-Use Assets
- Right-of-use assets related to operating leases remained relatively stable, fluctuating narrowly between approximately 7.9% and 8.8% of total assets. This stability suggests consistent lease obligations without significant expansion or contraction in leased asset bases.
- Other Assets
- The category other assets shows a persistent upward trend, increasing from around 2.85% of total assets in early 2020 to a peak close to 7.1% by mid-2025. This growth might represent accumulation of miscellaneous long-term assets or investments outside the core asset categories.
- Long-term Assets
- Long-term assets as a percentage of total assets display relative stability, with values generally oscillating between 71.5% and 77.5%. There is slight variability over the periods, but the overall high ratio indicates a substantial asset base invested in long-term holdings rather than current or short-term assets.
- Total Assets
- As expected, total assets comprise 100% in every period, serving as the basis for all relative asset measurements.