Common-Size Balance Sheet: Assets
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- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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ONEOK 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 financial data reveals several notable trends in asset composition over the five-year period under review.
- Liquidity Position
- Cash and cash equivalents as a percentage of total assets showed an initial increase from 0.07% in 2018 to a peak of 2.27% in 2020, followed by a decline to 0.62% in 2021 and a slight rebound to 0.9% in 2022. This pattern suggests fluctuating liquidity levels with a notable emphasis on higher cash holdings during 2020.
- Receivables and Working Capital Components
- Accounts receivable, net increased from 4.49% in 2018 to 6.29% in 2022, with a marked jump between 2020 (3.6%) and 2021 (6.1%). Inventory percentages remained relatively stable around 2.4%, with some minor variation. Commodity imbalances and other current assets accounted for small proportions, roughly stable over time. Overall, current assets grew from 7.67% of total assets in 2018 to 10.45% in 2022, indicating an increasing share of short-term assets.
- Long-Term Asset Base
- Net property, plant, and equipment consistently dominated the asset structure, representing over 80% of total assets throughout, peaking in 2019 at 84.12% and slightly decreasing to 81.84% by 2022. Investments in unconsolidated affiliates and goodwill/intangible assets demonstrated declining trends, with investments dropping from 5.32% to 3.29% and goodwill from 5.3% to 3.09% over the period.
- Other Assets and Overall Composition
- Other assets showed some volatility, increasing sharply in 2020 to 2.06% before tapering down to 1.33% by 2022. Correspondingly, the total investments and other assets category decreased steadily from 11.33% in 2018 to 7.71% by 2022. Noncurrent assets collectively declined from 92.33% of total assets in 2018 to 89.55% in 2022, reflecting a slight shift toward increased current assets over time.
In summary, the data reflects a gradual shift in asset structure with a marginal reduction in the dominance of long-term assets in favor of an increased current asset base. Liquidity levels experienced variability, notably increasing during the 2020 period, potentially indicative of strategic cash management decisions. Investments in affiliates and intangible assets steadily diminished, suggesting a possible reallocation of resources or impairment considerations.