Common-Size Balance Sheet: Assets
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Alphabet Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
The analysis of the financial data over the five-year period reveals several notable trends in asset composition and allocation.
- Liquidity and Marketable Securities
- There is a clear declining trend in the proportion of cash and cash equivalents relative to total assets, decreasing from 8.28% in 2020 to 5.21% in 2024. Similarly, marketable securities as a percentage of total assets experienced a marked reduction from 34.49% to 16.03% over the same span. Consequently, the combined cash, cash equivalents, and marketable securities category declined significantly from 42.77% in 2020 to 21.25% in 2024. This indicates a shift away from highly liquid asset holdings.
- Receivables and Current Assets
- Accounts receivable, net, showed a gradual increase, moving from 9.68% to a peak of 11.92% in 2023 before slightly retreating to 11.62% in 2024. Other current assets increased steadily from 2.09% to 3.49%. Despite these gains, overall current assets decreased from 54.53% to 36.36% of total assets, reflecting the larger reduction in cash and marketable securities.
- Non-current Assets
- Non-current assets increased notably from 45.47% in 2020 to 63.64% in 2024. Within this category, property and equipment, net, exhibited a strong upward trend, rising from 26.52% to 37.99%, indicating increased investments in physical assets. Non-marketable securities remained relatively stable, fluctuating around 6.48% to 8.44%. Deferred income taxes grew significantly, from a minor 0.34% to 3.82%, suggesting growing deferred tax assets or liabilities. Other non-current assets also increased from 1.69% to 3.3%. Conversely, operating lease assets declined gradually from 3.82% to 3.02%.
- Goodwill
- Goodwill as a percentage of total assets remained fairly stable, oscillating between 6.39% and 7.93%, with no significant upward or downward trend.
- Overall Asset Composition
- The data indicates a strategic shift in asset allocation from liquid and short-term assets towards long-term, physical, and deferred tax assets. The decline of cash and marketable securities as major components of total assets, combined with the growth in property and equipment, non-current assets, and deferred income taxes, suggest a focus on longer-term investments and asset development over the period analyzed.