Stock Analysis on Net
Stock Analysis on Net

Activision Blizzard Inc. (NASDAQ:ATVI)

This company has been moved to the archive! The financial data has not been updated since July 31, 2023.

Common-Size Balance Sheet: Assets 

Activision Blizzard Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2022 Dec 31, 2021 Dec 31, 2020 Dec 31, 2019 Dec 31, 2018
Cash and cash equivalents 25.78 41.60 37.42 29.20 23.69
Held-to-maturity investments 18.01 0.00 0.00 0.00 0.00
Accounts receivable, net 4.40 3.88 4.55 4.27 5.80
Software development 2.34 1.79 1.52 1.62 1.48
Other current assets 2.31 2.84 2.22 1.65 3.26
Current assets 52.84% 50.11% 45.72% 36.74% 34.24%
Software development 2.34 0.84 0.69 0.27 0.36
Property and equipment, net 0.70 0.67 0.90 1.27 1.58
Deferred income taxes, net 4.39 5.50 5.70 6.52 2.26
Other assets 1.86 1.98 2.77 3.32 2.70
Intangible assets, net 1.61 1.78 1.95 2.68 4.12
Goodwill 36.26 39.11 42.26 49.20 54.74
Non-current assets 47.16% 49.89% 54.28% 63.26% 65.76%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

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).

Cash and Cash Equivalents
The proportion of cash and cash equivalents relative to total assets increased significantly from 23.69% in 2018 to a peak of 41.6% in 2021. However, this was followed by a notable decline to 25.78% in 2022, indicating a reduction in liquid assets share after a period of accumulation.
Held-to-Maturity Investments
This item was not reported in earlier years but appeared in 2022 at 18.01% of total assets, suggesting a strategic shift towards fixed income or less liquid investment holdings in that year.
Accounts Receivable, Net
The percentage of net accounts receivable to total assets decreased from 5.8% in 2018 to 3.88% in 2021, showing improved collection or reduced credit sales, but slightly rose to 4.4% in 2022.
Software Development (Current and Non-current)
Overall investment in software development relative to total assets displayed growth. The current asset portion rose from 1.48% in 2018 to 2.34% in 2022. The non-current portion, minor to begin with (0.36% in 2018), increased markedly to 2.34% by 2022, reflecting increased capitalization of software development expenses as longer-term assets.
Other Current Assets
These assets declined from 3.26% in 2018 to 1.65% in 2019, then increased gradually to 2.84% in 2021 before dipping again to 2.31% in 2022, indicating some volatility but a relatively stable low share of total assets.
Current Assets
The current asset ratio rose steadily and significantly throughout the period from 34.24% in 2018 to 52.84% in 2022. This suggests an increasing reliance on liquid and near-liquid assets within the company's asset base.
Property and Equipment, Net
This category steadily decreased from 1.58% in 2018 to a low of 0.67% in 2021, with a slight increase to 0.7% in 2022, indicating a declining role of fixed tangible assets in the company’s asset structure.
Deferred Income Taxes, Net
Deferred income taxes rose sharply from 2.26% in 2018 to 6.52% in 2019, then gradually declined to 4.39% by 2022, reflecting changes in tax positions or timing differences in tax recognition over the years.
Other Assets
The share of other assets decreased from 2.7% in 2018 to 1.86% in 2022, revealing a gradual reduction in miscellaneous or less definable asset categories.
Intangible Assets, Net
Intangible assets as a percentage of total assets diminished consistently from 4.12% in 2018 to 1.61% in 2022, demonstrating a steady reduction in the proportion of identifiable intangible assets.
Goodwill
Goodwill, a significant portion of total assets, declined markedly from 54.74% in 2018 to 36.26% in 2022. This sizable contraction indicates asset revaluation, impairments or divestitures impacting goodwill over the years.
Non-current Assets
The share of non-current assets dropped from 65.76% in 2018 to 47.16% in 2022, reflecting a shift toward more current assets, consistent with the observed increase in current assets proportion.
Total Assets
The total assets composition remained constant by definition at 100% throughout the period, serving as the basis for evaluating proportionate changes in individual asset categories.