Common-Size Balance Sheet: Assets
Quarterly Data
Sherwin-Williams Co., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2025-09-30), 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 percentage of cash and cash equivalents relative to total assets fluctuated moderately throughout the observed periods, generally remaining under 2%. There was a spike to nearly 3% in September 2020, followed by a gradual decrease and minor oscillations. A notable increase occurred again in September 2023, reaching above 2%, but in 2024 and early 2025 the values mostly stayed below 1.1%, indicating relatively low liquidity holdings compared to total assets.
- Accounts receivable, net
- Accounts receivable as a percentage of total assets showed some variability but overall remained between approximately 10% and 13.5%. Peaks were observed in mid-2022 and mid-2023, with a slight decline towards the early quarters of 2024 and 2025. This pattern suggests a general stability in receivables with some seasonal or cyclical influences affecting the amount outstanding.
- Inventories
- Inventory levels relative to total assets exhibited a gradual increasing trend from early 2020 through late 2022, rising from about 8% to nearly 12%. After this peak, inventory levels showed some decline and fluctuation but maintained a higher percentage compared to the earlier periods. This trend indicates increased investment in inventory assets over time with some normalization in the most recent quarters.
- Other current assets
- This category remained relatively stable as a portion of total assets throughout the period, mostly oscillating between 2% and 3%. Minor increases and decreases were evident but without significant long-term trend changes, suggesting steady proportionality in other current asset holdings.
- Current assets
- The total current assets as a percentage of total assets saw a modest upward trend from around 24% in early 2020 to approximately 28% by 2021 mid-year. Following that, it slightly declined and hovered near 25% in most subsequent periods with a downturn toward the end of 2024 and into 2025. This indicates moderate variation in liquidity and short-term financial resources over the examined timeframe.
- Property, plant and equipment, net
- There was a clear upward trend in net property, plant, and equipment relative to total assets, rising steadily from below 9% to nearly 15% by late 2024. This increase suggests ongoing capital investment and asset base expansion focused on tangible fixed assets.
- Goodwill
- Goodwill's share of total assets displayed a generally declining trend from above 34% in early periods down to under 30% by late 2025. This steady decrease may reflect impairment charges, divestitures, or changes in acquisition activity affecting the intangible asset base.
- Intangible assets
- Intangible assets as a percentage of total assets showed a consistent decrease over time, moving from over 22% in early 2020 to near 13% in late 2025. This mirrors the trend observed in goodwill, indicating a decline in intangible asset valuation or accounting adjustments reducing their relative proportion.
- Operating lease right-of-use assets
- The proportion of operating lease right-of-use assets remained relatively stable, fluctuating slightly around the 8% mark. There was a minor downward drift in later periods but overall this asset class maintained a consistent share of the company's asset base.
- Other assets
- Other assets showed a progressive increase as a percentage of total assets, starting near 2.9% and rising continuously to exceed 11% by late 2025. This significant growth implies accumulation or reclassification of miscellaneous assets, contributing increasingly to the overall asset composition.
- Long-term assets
- Long-term assets consistently composed about three-quarters of total assets throughout the time frame. Although there were minor fluctuations, the share remained broadly stable, underscoring a strong emphasis on long-term investments and fixed asset holdings.