Common-Size Balance Sheet: Assets
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Analysis of Profitability Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Reportable Segments
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
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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).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents relative to total assets exhibited fluctuations over the analyzed periods, initially decreasing from 13.11% in 2020 to 8.61% in 2021, followed by a recovery to 13.9% in 2023 before slightly declining to 12.61% in 2024.
- Marketable Securities
- This category displayed a significant decline from 14.23% in 2021 to 3.49% in 2022, maintaining relatively lower levels thereafter with a slight increase to 3.59% in 2024. This indicates a reduction in liquid investment assets proportionally to total assets.
- Inventories
- The inventory percentage of total assets showed a consistent downward trend, decreasing from 7.76% in 2021 to 5.48% in 2024, suggesting either improved inventory turnover or a strategic reduction in stock holdings.
- Customer Receivables, Net
- A gradual increase was observed in customer receivables as a percentage of total assets from 4.61% in 2020 to a peak of 6.46% in 2023, followed by a decrease to 5.49% in 2024. This trend may reflect changes in credit policy or sales structure.
- Vendor Receivables, Net
- The proportion of vendor receivables exhibited minor fluctuations but showed a steady increase in the latter periods, ending at 1.86% in 2024 compared to 1.49% in 2020, indicating a growing amount of receivables from suppliers or partners.
- Other Receivables, Net
- Other receivables increased notably from 0.12% in 2020 to 0.95% in 2022, then declined to 0.54% by 2024, reflecting volatility in miscellaneous receivables that may arise from diverse operational activities.
- Prepaid Expenses and Other Current Assets
- This ratio remained relatively stable, fluctuating within a narrow range around 1%, showing limited variation in prepaid and other current asset categories.
- Accounts Receivable, Net and Other
- The combined accounts receivable and other related assets increased from 7.64% in 2020 to 9.9% in 2023 before decreasing to 8.87% in 2024, indicating an overall growth followed by a moderate contraction in receivables-related assets.
- Current Assets
- The total current assets as a percentage of total assets consistently declined from 41.32% in 2020 to 30.54% in 2024, suggesting a strategy of reduced short-term asset holdings or a shift towards more long-term investments.
- Property and Equipment, Net
- The net property and equipment proportion exhibited an upward trajectory, rising from 35.22% in 2020 to 40.43% in 2024, reflecting ongoing investment in fixed assets or capitalization of capital expenditures.
- Operating Leases
- The share of operating leases showed a gradual increase from 11.69% to a peak of 14.29% in 2022, followed by a decline to 12.18% in 2024, indicating variable commitment to lease agreements within the asset base.
- Goodwill
- Goodwill as a percentage of total assets decreased from 4.68% in 2020 to 3.69% in 2024, suggesting either impairment charges, disposals, or slower acquisition activity generating goodwill.
- Other Assets
- Other assets demonstrated a significant increase from 7.09% in 2020 to 13.15% in 2024, highlighting a rising allocation toward miscellaneous or non-categorized asset classes.
- Long-term Assets
- The long-term asset ratio increased steadily from 58.68% in 2020 to 69.46% in 2024, indicating a strategic emphasis on longer-duration asset investments relative to total assets.