Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
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United Rentals Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents to total assets displayed a fluctuating pattern from 2018 through 2022. Initial values were relatively low around 1.89% but fell to around 0.24% by December 2018. A notable spike occurred in March 2020, reaching 2.72%, likely reflecting a liquidity response. Subsequently, the ratio declined and stabilized at lower levels between 0.33% and 0.5% by the end of 2022.
- Accounts receivable, net
- This ratio remained fairly stable across the periods, mostly oscillating between approximately 7.0% and 9.0% of total assets. There was no clear upward or downward trend, with slight increases and decreases observed, suggesting steady credit sales and collection practices throughout the years.
- Inventory
- Inventory as a percentage of total assets showed a modest increasing trend over the observed periods. Beginning near 0.57% in early 2018, it gradually increased with minor fluctuations, reaching approximately 0.96% toward the end of 2022. This rise indicates a slight accumulation of inventory assets relative to total assets over time.
- Prepaid expenses and other assets
- This item exhibited notable volatility. Initially low around 0.5%, it peaked significantly to 2.1% at the end of 2020, then decreased and fluctuated around 0.5% to 1.6% in subsequent periods. This pattern could reflect timing differences in expense recognition or other temporarily elevated prepaid balances.
- Current assets
- The percentage of current assets relative to total assets displayed moderate variation, generally ranging from approximately 9% to 11.7%. There was a spike in March 2020 corresponding with the increase in cash and receivables, followed by fluctuations indicating changes in working capital management during the reviewed timeframe.
- Rental equipment, net
- As the largest asset component, rental equipment represented over half of total assets throughout the entire period. The ratio slightly declined from above 54% in early 2018 to a low near 48.3% in late 2020, then steadily increased again to nearly 55% by the end of 2022. This trend suggests ongoing investment and expansion in rental equipment assets after a brief contraction or slower growth period.
- Property and non-rental equipment, net
- This category remained relatively consistent, fluctuating in a narrow range roughly between 3.0% and 3.5% of total assets, indicating stable holdings in property and equipment outside rental assets.
- Property and equipment (rental and non-rental), net
- Combining rental and non-rental property and equipment, this ratio mirrored the seasonal and cyclical trends noted in rental equipment, declining from a high near 57.7% in 2018 down to about 51.6% at the end of 2020, followed by a gradual recovery to approximately 58.4% at the end of 2022. The overall movement suggests capital spending adjustments influencing fixed asset intensity over the period.
- Goodwill
- The goodwill component showed a gently declining trend relative to total assets, dropping from around 28% in early 2018 to under 25% by the end of 2022. This reduction could imply impairment charges, amortizations, or an increase in other asset categories diluting goodwill's relative size.
- Other intangible assets, net
- This ratio steadily decreased over the analyzed period, moving from about 5.6% to under 2% of total assets by late 2022. The decline suggests systematic amortization or disposal of intangible assets, or potentially limited new acquisitions of such assets.
- Operating lease right-of-use assets
- Data is available starting in 2019, showing a modest increase initially from 3.25% to nearly 4% of total assets by the end of 2021, followed by a slight decrease to around 3.4% by late 2022. This pattern likely reflects adoption effects of lease accounting standards and lease portfolio management adjustments.
- Other long-term assets
- Representing a minor proportion of total assets, this category experienced a small but steady increase from about 0.09% in 2018 to around 0.22% in 2021 before decreasing slightly in 2022, indicative of modest growth in miscellaneous long-term assets.
- Long-term assets
- The ratio of long-term assets to total assets remained fairly stable across the observed periods, consistently near 89% to 90%, underscoring the capital-intensive nature of the asset base and a primary focus on long-term holdings rather than current asset buildup.
- Total assets
- By definition, total assets are consistently 100% for all periods, serving as the basis for the relative proportions analyzed above.