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 Liquidity Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Total Asset Turnover since 2005
- Aggregate Accruals
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Amgen Inc., common-size consolidated balance sheet: assets (quarterly data)
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).
- Cash and cash equivalents
- Cash and cash equivalents as a percentage of total assets exhibit fluctuations over the analyzed periods. Starting around 12.46% in early 2020, the ratio rose to a peak of approximately 38.37% by late 2023, followed by a notable decline to the range of 9-13% from early 2024 onward. This pattern indicates periods of significant liquidity buildup followed by drawdowns.
- Marketable securities
- The proportion of marketable securities relative to total assets shows variability with an initial upward trajectory in 2020 reaching around 7% in early 2021. However, this percentage subsequently declined and became negligible or missing from mid-2023 onward, suggesting a reduction or reclassification of these holdings.
- Trade receivables, net
- Trade receivables demonstrate a relatively stable profile, mostly fluctuating between 6% and 9% of total assets. Notable troughs occur in early and mid-2023 (around 6.46%) with a gradual increase toward the end of the data period, peaking near 9.9% in mid-2025, possibly reflecting changes in sales cycles or credit policies.
- Inventories
- Inventory levels as a percentage of total assets vary moderately. They generally trend between 5.5% and 7.5%, with an exceptional spike to nearly 9.8% at the end of 2023. After this peak, the ratio declines steadily toward about 7.5% by mid-2025, which could indicate inventory build-up followed by normalization.
- Other current assets
- Other current assets remain relatively stable, oscillating in a narrow band mostly between 2.5% and 4%, with a slight dip around late 2022 and early 2023. Toward mid-2025, there is a mild upward trend, reaching close to 3.9%, suggesting modest growth in miscellaneous asset components.
- Current assets
- Current assets as a whole exhibit significant volatility. After a peak at about 35% in mid-2020 and fluctuations through 2021 and early 2022, there is a pronounced surge to above 50% in early 2023, followed by a sharp decline back to around 30% thereafter. This pattern aligns with the observed changes in cash, marketable securities, and inventories, indicating shifting short-term asset allocations.
- Property, plant and equipment, net
- Property, plant, and equipment maintain a fairly consistent share of total assets, generally fluctuating between 6% and 8.5%. A slight increase is observed toward the end of the period, suggesting steady investment or asset retention without major fluctuations.
- Intangible assets, net
- Intangible assets show a declining trend from approximately 30% in early 2020 to around 14.5% by late 2023, followed by a sudden jump back to the low 30% range starting late 2023 through mid-2024. Subsequently, a gradual decrease resumes. This irregular pattern may result from acquisition, impairment, or revaluation events affecting intangible asset balances.
- Goodwill
- Goodwill as a proportion of total assets decreases from roughly 24% in early 2020 to about 17% in late 2023, before showing a moderate recovery to the low 20% range by mid-2025. The decline followed by partial recovery might reflect impairment testing outcomes, acquisitions, or disposals.
- Other noncurrent assets
- Other noncurrent assets display an upward trend overall, rising from around 7.5% to values above 12% over the full time span. This steady increase suggests growth in long-term assets aside from property, goodwill, and intangibles, possibly including investments or receivables.
- Noncurrent assets
- The total noncurrent assets maintain a range generally between 60% and 70% of total assets, with a dip to below 50% seen in early 2023 coinciding with the spike in current assets. Following this outlier, the ratio returns to previous levels. This behavior indicates temporal shifts between current and noncurrent asset classifications.
- Total assets
- Total assets are consistently balanced at 100%, serving as the base for relative measurements.