Stock Analysis on Net

Sherwin-Williams Co. (NYSE:SHW)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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Sherwin-Williams Co., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 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
Cash and cash equivalents
Accounts receivable, net
Inventories
Other current assets
Current assets
Property, plant and equipment, net
Goodwill
Intangible assets
Operating lease right-of-use assets
Other assets
Long-term assets
Total assets

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.