Abiomed Inc. (NASDAQ:ABMD)

The financial data reveals an upward trend in both current assets and adjusted current assets over the analyzed periods, indicating consistent growth in short-term resources.

Current Assets

The value of current assets increased from 326,958 thousand US dollars at the end of March 2017 to 976,473 thousand US dollars by the end of March 2022. This represents a nearly threefold increase over the five-year span, with steady growth each year except for a slight decrease in the year ending March 2020 (from 677,197 to 635,863 thousand), likely reflecting a temporary dip.

Adjusted Current Assets

The adjusted measure of current assets follows a virtually identical pattern to total current assets, rising from 327,240 thousand US dollars in March 2017 to 977,097 thousand by March 2022. The minimal differences between adjusted and unadjusted values suggest limited adjustments were necessary, indicating stability in the asset valuations.

Overall, the data indicates that the company has successfully increased its liquidity base over the years, which may enhance its capacity to meet short-term obligations and support operational activities. The temporary decline around 2020 should be monitored but does not detract from the general positive trend.

Total assets

The total assets of the company demonstrated a consistent upward trajectory over the six-year period analyzed, increasing from approximately $550.4 million in 2017 to about $1.67 billion in 2022. This represents a threefold increase, indicating substantial growth in asset accumulation and potential expansion.

Adjusted total assets

Adjusted total assets also showed a strong increasing trend, rising from roughly $523.4 million in 2017 to $1.66 billion in 2022. The figures followed a closely similar growth pattern to total assets, suggesting consistent valuation adjustments and asset reclassifications remained proportionate to the company's total asset base.

Overall Trends and Insights

Both total and adjusted total assets increased steadily year-over-year without any periods of decline or stagnation, reflecting healthy asset growth. The ratio between adjusted and total assets remained relatively stable, underscoring consistent asset quality or valuation treatment over time. This upward trend signals ongoing investment in assets, potentially supporting business growth strategies or operational scaling. The data do not reveal any anomalies or fluctuations that would indicate volatility during the period.

The analysis of the current liabilities over the periods from March 31, 2017, to March 31, 2022, reveals a consistent upward trend. The reported current liabilities increased from 69,617 thousand US dollars in 2017 to 138,457 thousand US dollars in 2022. This represents a near doubling of current liabilities over the six-year period.

Similarly, the adjusted current liabilities also show a persistent increase across the same timeline. Beginning at 58,405 thousand US dollars in 2017, the adjusted figure rises steadily to 110,160 thousand US dollars by 2022. Although these adjusted amounts are lower than the unadjusted current liabilities, the growth pattern is analogous, indicating a consistent expansion in short-term obligations when adjusted for specific accounting considerations.

Current Liabilities

Increased consistently every year, growing from 69,617 to 138,457 (thousands of US dollars) from 2017 through 2022.

Adjusted Current Liabilities

Followed a similar upward trajectory, increasing from 58,405 to 110,160 (thousands of US dollars) over the same period.

Trend Analysis

The overall rise in both reported and adjusted current liabilities suggests expanding short-term financial obligations, potentially reflecting increased operational scale or financing activities.

Comparison between Reported and Adjusted Liabilities

Adjusted liabilities remain consistently lower than reported current liabilities, indicating adjustments likely related to excluding certain items or temporary liabilities.

Total liabilities

The total liabilities exhibited a generally increasing trend over the six-year period. From March 31, 2017 to March 31, 2018, a slight decrease was observed, declining from 98,343 to 96,851 thousand US dollars. However, from 2018 onwards, total liabilities increased each year, reaching 170,067 thousand US dollars by March 31, 2022. This represents an overall increase of approximately 73% from 2017 to 2022, indicating a growing obligation level within the company.

Adjusted total liabilities

The adjusted total liabilities demonstrated a similar pattern to the total liabilities but with less volatility in absolute values. There was a decline from 93,810 to 89,986 thousand US dollars from 2017 to 2018. Following this, the adjusted total liabilities increased steadily each year, rising from 89,986 in 2018 to 140,989 thousand US dollars by March 31, 2022. This increase of approximately 50% over the five-year period suggests that when adjustments are accounted for, liabilities also grew significantly but at a more gradual pace than the unadjusted figures.

General observations

The increasing trend in both total and adjusted liabilities suggests expanding financial obligations. The adjusted liabilities being consistently lower than total liabilities imply that certain adjustments reduce the liability count, which may reflect accounting adjustments or reclassifications. The difference between total and adjusted liabilities remains relatively stable over time, indicating consistency in the nature of these adjustments.

The annual financial data reveals a consistent upward trend in both stockholders' equity and adjusted stockholders' equity over the six-year period analyzed.

Stockholders’ Equity

This figure increased steadily from $452,071 thousand in 2017 to $1,503,326 thousand in 2022. The year-over-year growth is notable, with particularly large increments observed between 2017 and 2018, as well as between 2020 and 2021. This consistent growth indicates improving financial strength and an increasing book value attributable to the shareholders.

Adjusted Stockholders’ Equity

Adjusted stockholders’ equity mirrors the upward trend seen in stockholders’ equity, rising from $429,625 thousand in 2017 to $1,522,476 thousand in 2022. The adjustment appears to have a modest impact on the absolute values, but the proportional increase over time remains consistent with the unadjusted equity.

Overall, both equity measures show strong and continuous growth over the entire timeframe, reflecting accumulating retained earnings or possible capital infusions. The parallel movement of adjusted and unadjusted figures suggests that adjustments do not significantly distort the equity trend.

The financial data reveals several notable trends over the analyzed periods.

Total Reported Debt

Data is only available for the year ending March 31, 2017, showing a total reported debt of 16,338 thousand US dollars. Subsequent years’ data on reported debt are missing, limiting longitudinal analysis for this metric.

Stockholders’ Equity

A consistent upward trend is observed from 452,071 thousand US dollars in 2017 to 1,503,326 thousand US dollars in 2022. This reflects a steady increase in equity over the six-year span, suggesting growth in retained earnings, capital injection, or asset appreciation.

Total Reported Capital

Total reported capital mirrors stockholders’ equity from 2018 onwards, increasing from 689,524 thousand US dollars in 2018 to 1,503,326 thousand US dollars in 2022. This parallel growth indicates that reported capital has been strongly influenced by equity, with no indication of increasing debt financing in the later years.

Adjusted Total Debt

Adjusted total debt shows a declining trend overall, decreasing from 23,800 thousand US dollars in 2017 to a low of 6,116 thousand US dollars in 2021, before rising slightly to 9,507 thousand US dollars in 2022. This suggests an overall reduction in debt obligations, with a modest increase in the most recent year.

Adjusted Stockholders’ Equity

There is a consistent increase in adjusted stockholders’ equity from 429,625 thousand US dollars in 2017 to 1,522,476 thousand US dollars in 2022. This upward trajectory aligns with the trend in reported equity, indicating a robust growth in the company’s net assets after adjustments.

Adjusted Total Capital

Adjusted total capital follows the pattern of adjusted stockholders’ equity closely, rising from 453,425 thousand US dollars in 2017 to 1,531,983 thousand US dollars in 2022. This demonstrates growth in the company’s overall capital base when factoring in adjustments, with capital increasing steadily each year.

In summary, the company has experienced a marked increase in equity and capital over the period under review, while debt levels exhibit a general reduction trend with minor fluctuations. The adjusted figures reinforce these observations, suggesting improved financial stability and a stronger capital position over time.

The financial data reveals a consistent upward trend in both revenue and adjusted revenue over the six-year period ending March 31, 2022. The revenue increased steadily from $445.3 million in 2017 to $1.032 billion in 2022, indicating strong growth.

Adjusted revenue, which typically accounts for non-recurring items and provides a more normalized view of performance, follows a similar trajectory. It edged higher from $447.0 million in 2017 to approximately $1.034 billion in 2022.

Revenue Growth Analysis

Year-over-year revenue gains were observed consistently, with the most substantial absolute growth occurring between 2021 and 2022 (approximately $185 million increase). The revenue growth rate appears to have accelerated in the latter years.

Adjusted Revenue Observations

Adjusted revenue closely parallels reported revenue figures, indicating limited impact from exceptional items during these years. The close alignment suggests stable core business operations without significant distortion from one-off effects.

General Insights

The data implies increasing market demand or successful commercialization efforts, contributing to the persistent revenue expansion. The company’s ability to enhance revenue over multiple consecutive years points to operational resilience and potentially favorable market positioning.

The financial data indicates notable variability in the company's profitability over the six-year period. Both net income and adjusted net income demonstrate fluctuating trends, reflecting underlying operational and possibly market-related factors.

Net Income

Net income showed a significant increase from 52,116 thousand USD in 2017 to 259,016 thousand USD in 2019, indicating a period of strong profitability growth. However, this was followed by a decline to 203,009 thousand USD in 2020. The figure slightly recovered to 225,525 thousand USD in 2021 but then decreased markedly to 136,505 thousand USD in 2022. This pattern suggests some challenges in maintaining peak profitability beyond 2019.

Adjusted Net Income

Adjusted net income also rose consistently from 73,447 thousand USD in 2017 to a peak of 259,631 thousand USD in 2021. This adjustment likely factors out exceptional or non-recurring items, reflecting a smoother profitability trend compared to net income. However, there is a sharp decrease in 2022 to 124,975 thousand USD, indicating a significant deterioration in core profitability or an increase in operational or other costs not captured by adjustments in earlier years.

Comparative Insights

Adjusted net income consistently exceeded net income in all years, implying that adjustments had a positive effect on reported profits, possibly by excluding one-time charges or income. The divergence between adjusted and net income is most pronounced in 2021, where adjusted net income peaked, but net income was notably lower, suggesting extraordinary expenses or losses during that year.

The overall trend reveals strong growth until 2019 and 2021 peaks, with substantial declines in the latest year (2022), which may warrant further investigation into the causes, such as market conditions, operational challenges, or increased expenses affecting profitability.