Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Alphabet Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 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).
The financial data reveals multiple noteworthy trends and insights regarding the company's asset composition and changes over the series of quarterly periods.
- Liquidity Position
- Cash and cash equivalents have exhibited considerable fluctuations. After a peak around December 2020 at approximately $26.5 billion, the balance declined and then showed intermittent rebounds, reaching its highest level in the dataset near $30.7 billion by the third quarter of 2023 before decreasing again.
- Marketable securities followed a generally declining trend starting from over $118 billion in late 2021 down to roughly $75 billion by late 2025, indicating a reduction in liquid investments in marketable assets over time.
- The combined cash, cash equivalents, and marketable securities peaked around December 2020 with about $137 billion but subsequently trended downwards with some recovery periods, falling to just under $99 billion by early 2025. This suggests a gradual decrease in liquid financial resources.
- Receivables and Current Assets
- Accounts receivable, net, displayed a steady upward trajectory from approximately $22 billion in early 2020 to about $57 billion by late 2025. This growth indicates an increase in sales or services rendered on credit terms.
- Other current assets showed a mixed pattern but overall increased from around $8 billion in 2020 to over $18 billion by late 2025, reflecting an expansion in miscellaneous short-term assets.
- Total current assets touched a high in late 2021 near $188 billion but declined afterward, stabilizing around $174 billion by the terminal date, which illustrates some diminished short-term asset strength but maintaining a significant current asset base.
- Long-Term Asset Trends
- Non-marketable securities increased notably from $12 billion in early 2020 to over $63 billion by late 2025, signaling growing investments in assets that are not readily convertible to cash.
- Deferred income taxes increased sharply, with a marked jump starting around late 2021, peaking near $19 billion by mid-2025 before falling back below $11 billion by late 2025, which may indicate changes in tax strategies or timing differences in income recognition.
- Property and equipment, net, displayed consistent growth from about $77 billion in early 2020 to over $223 billion by late 2025, reflecting ongoing capital expenditures and asset accumulation.
- Operating lease assets remained fairly stable, fluctuating marginally around $13 billion to $14 billion, denoting stable lease agreements without major changes in asset leasing commitments.
- Goodwill values showed a moderate increase from around $21 billion to about $33 billion, indicating strategic acquisitions or business combinations.
- Other non-current assets experienced an upward trend from approximately $4.6 billion to over $16.8 billion, consistent with growth in various longer-term holdings.
- Overall, non-current assets steadily increased from roughly $126 billion to above $362 billion, underscoring significant investments and asset base expansion in the long term.
- Total Asset Composition
- Total assets climbed consistently from about $273 billion in early 2020 to over $536 billion by late 2025, almost doubling in size. This growth reflects expansion across all asset categories, especially in property, equipment, and investments.
- The mix of assets shows a gradual shift from highly liquid funds toward more fixed and long-term investments, highlighting a strategy focused on building substantial infrastructure and intangible assets.
In summary, the company’s asset base nearly doubled over the period analyzed, with a significant increase in long-term assets such as property and equipment alongside growth in receivables and other current assets. Liquidity, measured by cash and marketable securities, decreased proportionally, implying a shift towards less liquid but potentially higher-return assets. The rise in goodwill and other non-current assets points to strategic acquisition activity and diversification of asset holdings. Deferred tax movements suggest evolving tax and accounting approaches. Overall, the data reveals a strong asset growth narrative aligned with expanded operational capacity and investment intensity.