Common-Size Balance Sheet: Assets
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Hubbell Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Analysis of Geographic Areas
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Net Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
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Hubbell Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31).
The analysis of the company's asset composition reveals several key trends in the allocation and proportion of both current and long-term assets over the five-year period from 2018 to 2022.
- Cash and cash equivalents
- There is a notable upward trend in cash and cash equivalents, increasing from 3.88% of total assets in 2018 to 8.15% in 2022. This indicates a strategic shift towards higher liquidity over the period.
- Short-term investments
- Short-term investments fluctuate slightly but remain a minor portion of total assets, ranging between 0.18% and 0.29%, with a small increase in 2022 compared to prior years.
- Accounts receivable, net of allowances
- Accounts receivable as a percentage of total assets decreases from 14.89% in 2018 to a low of 12.48% in 2020, then rises again to 13.73% in 2022, indicating some variability in the collection cycle or sales on credit.
- Inventories, net
- Inventories decline from 13.36% in 2018 to 11.94% in 2020, before increasing to 13.71% in 2022, suggesting fluctuations in inventory management or sales demand cycles.
- Other current assets
- Other current assets remain relatively stable, ranging narrowly between 1.26% and 1.56%. The presence of current assets held for sale in 2021 at 3.4% is notable but not sustained in subsequent years.
- Total current assets
- Total current assets decline slightly from 33.74% in 2018 to 31.22% in 2020, then rise significantly to 37.42% in 2022, largely driven by increases in cash and inventories.
- Property, plant, and equipment, net
- This asset category declines from around 10.3% in 2018-2020 to 8.7% in 2021, then recovers somewhat to 9.77% in 2022, indicating possible divestitures or depreciation effects followed by reinvestment.
- Investments
- Investments as a percentage of total assets remain relatively stable with minor fluctuations between 1.14% and 1.4%, showing little change in this asset class' relative importance.
- Goodwill
- Goodwill maintains a dominant and stable presence, consistently around 36-38% of total assets. Despite minor fluctuations, it remains a significant intangible asset category over the period.
- Other intangible assets, net
- Other intangible assets show a steady decline from 16.82% in 2018 to 12.4% in 2022, signaling amortization or impairment effects reducing their proportional value over time.
- Other long-term assets
- Other long-term assets increase notably from 1.36% in 2018 to 3.56% in 2019, then gradually decrease to 2.72% by 2022, indicating some reclassification or realization of these assets.
- Assets held for sale, non-current
- The appearance of non-current assets held for sale at 3.35% in 2021 is a distinctive item for that year, suggesting specific divestment activities not present before or after.
- Total other assets
- "Other assets" category peaks at 58.57% in 2020 and declines steadily to 52.81% in 2022, reflecting overall changes in intangible and other asset categories within the long-term asset structure.
- Total long-term assets
- Total long-term assets show a decreasing trend after peaking at 68.78% in 2020, sliding to 62.58% in 2022, driven by declines in intangibles and property, plant, and equipment.
- Total assets
- The composition changes highlight a shift towards increased current asset liquidity and a relative reduction in long-term asset intensity over the timeframe analyzed.