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. pages available for free this week:
- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Common Stock Valuation Ratios
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
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Alphabet Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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 exhibit several notable trends regarding liquidity, asset composition, and overall asset growth over the observed quarters.
- Liquidity Position
- The combined cash, cash equivalents, and marketable securities indicate a fluctuating but generally declining trend when viewed from early 2020 through mid-2025. Starting from a total above $117 billion in March 2020, it peaked near $142 billion around late 2021 but then steadily declined to approximately $95 billion by mid-2025. This suggests a reduction in highly liquid assets over time, potentially reflecting increased capital deployment or changes in investment strategy.
- Accounts Receivable and Other Current Assets
- Accounts receivable, net, showed a clear upward trend, rising from approximately $21.8 billion in Q1 2020 to about $55 billion in Q3 2025. This growth reflects increasing sales or credit extended to customers. Similarly, other current assets increased, particularly showing spikes around late 2022 and maintaining higher levels near $15.7 billion by mid-2025, indicative of growing short-term asset components beyond receivables and cash.
- Current and Non-Current Assets
- Total current assets peaked in early 2021 near $188 billion, followed by a gradual decrease to roughly $162 billion by mid-2025. Conversely, non-current assets consistently grew, starting near $126 billion and reaching over $335 billion by the end of the data period. This differential trend suggests a strategic shift towards long-term asset investment, including property, equipment, and other durable holdings.
- Property and Equipment, Net
- Property and equipment, net, demonstrated strong and consistent growth, rising from around $76.7 billion in early 2020 to more than $203 billion by mid-2025. This pattern points to significant ongoing capital expenditures and expansions in fixed assets over the period.
- Other Notable Non-Current Assets
- Non-marketable securities increased moderately, nearly quadrupling from about $12.4 billion to over $52 billion, indicating increased investment or holdings in assets not intended for sale in the short term. Deferred income taxes also rose substantially, from under $1 billion to nearly $19 billion, which may reflect changes in tax positions or timing differences between accounting and tax reporting. Goodwill held steady with a slight increasing trend, signaling stable acquisitions or intangible asset values. Other non-current assets similarly increased, with some volatility, notably rising near the latter part of the timeline.
- Total Assets
- Total assets exhibited consistent growth across the entire period under review, expanding from approximately $273 billion at the beginning of 2020 to over $502 billion by mid-2025. This represents a near doubling of the asset base over five years, highlighting substantial overall business growth and asset accumulation.
In summary, the company demonstrates a clear strategic emphasis on investing in long-term assets, as seen in property and equipment growth and increased non-current assets. Liquidity in the form of cash and marketable securities has decreased, possibly due to capital expenditures or other investment activities. Receivables growth suggests expansion in sales or customer credit. Total asset growth confirms overall business expansion and an increasingly substantial asset base.