Common-Size Balance Sheet: Assets
Quarterly Data
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Amgen Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Price to Operating Profit (P/OP) since 2005
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Amgen Inc., common-size consolidated balance sheet: assets (quarterly data)
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).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents as a percentage of total assets shows significant fluctuations over the periods analyzed. Initially around 12-14%, this percentage experienced peaks around early 2023, reaching above 35%, followed by a sharp decline towards the end of 2023. Subsequently, the ratio stabilized near 9-10% through 2024 and 2025, indicating variability in liquid asset holdings likely influenced by operational and investing activities.
- Marketable Securities
- The allocation to marketable securities is generally very low and inconsistent. It started near negligible values, surged to about 7% by early 2021, then regressed to almost zero towards late 2022 and early 2023 without further data available afterward. This suggests a temporary strategic positioning in short-term investments that was later reduced or liquidated.
- Trade Receivables, Net
- Trade receivables as a proportion of total assets remained relatively stable, fluctuating modestly between approximately 6% and 9.9%. Overall, a mild upward trend from the mid-2020s into 2025 is observed, possibly reflecting changes in sales volume or credit terms extended to customers.
- Inventories
- Inventory levels as a percentage of total assets display moderate seasonal and cyclical variation. After rising gradually to nearly 7.7% in mid-2022, the ratio fell sharply to around 5.5% during early 2023, followed by an increase that peaked near 9.8% by the end of 2023, then decreasing again towards mid-2025. These changes may indicate inventory management adjustments or fluctuating demand patterns.
- Other Current Assets
- This category experienced minimal variation, generally staying in the 2.5% to 4% range. A slight dip is visible around early 2023, with a moderate recovery thereafter. The relative stability suggests these assets are not subject to large operational swings.
- Current Assets
- Overall current assets, as expected, mirror the trends seen in their components, ranging mostly from approximately 29% to 53% of total assets. A notable spike occurs during 2023, predominantly driven by the surge in cash and cash equivalents, followed by normalization into the 30% range in subsequent years.
- Property, Plant and Equipment, Net
- The net book value of property, plant, and equipment held steady at about 6% to 8% of total assets, with slight growth visible from 6% in early 2023 to over 8% by late 2025. This suggests consistent investment in fixed assets over time.
- Intangible Assets, Net
- Intangible assets as a proportion of total assets steadily declined from above 30% in early 2020 to below 15% in late 2023, followed by a substantial increase to over 33% at the end of 2023, before gradually decreasing again to about 25.7% by late 2025. This volatility could be attributable to acquisitions, amortization, or derecognition effects impacting intangible asset valuations.
- Goodwill
- Goodwill consistently comprises a significant share of total assets, fluctuating between approximately 17% and 25%. A marked decrease occurred in early 2023, from around 24% to about 17%, with a subsequent gradual increase into the low 20% range through 2025. Variations in goodwill reflect possible impairment charges or acquisition activity.
- Other Noncurrent Assets
- Other noncurrent assets show a gradual upward trend from around 7% in 2020 to nearly 15% by late 2025. This steady increase may indicate growing investments or long-term receivables.
- Noncurrent Assets
- The sum of noncurrent assets remains the dominant portion of total assets, typically ranging from about 62% to 70%. A temporary decline to nearly 47% in early 2023 corresponds with a notable rise in current assets, but the ratio reverts to prior levels soon after, underscoring shifting asset compositions likely linked to strategic reallocations.
- Total Assets
- Total assets consistently represent 100% by definition, serving as the base for all proportional analyses.