Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Cash Flow Statement
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin 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: liabilities and stockholders’ equity
Based on: 10-K (reporting date: 2025-12-31), 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).
The composition of liabilities and stockholders’ equity experienced notable shifts between 2021 and 2025. Overall, a decrease in the proportion of total liabilities relative to stockholders’ equity is observed, though fluctuations exist within both categories. Current liabilities demonstrated an increasing trend over the period, while noncurrent liabilities initially increased but then decreased.
- Current Liabilities
- Current liabilities as a percentage of the total increased consistently from 19.92% in 2021 to 28.14% in 2025. This growth was primarily driven by increases in accrued liabilities and the current portion of long-term debt. Specifically, the current portion of long-term debt rose significantly from 0.14% to 5.08% of the total, while accrued liabilities increased from 17.54% to 20.45%. Accounts payable and sales deductions also contributed to this increase, though to a lesser extent.
- Noncurrent Liabilities
- Noncurrent liabilities initially rose from 69.13% in 2021 to 74.65% in 2023, then declined to 62.30% in 2025. Long-term debt, excluding the current portion, was the primary driver of this trend, increasing to 65.02% in 2023 before falling to 55.20% in 2025. Long-term tax liabilities decreased substantially over the period, from 10.78% to 2.97%. The introduction and subsequent growth of long-term deferred tax liabilities, beginning in 2022, also contributed to the composition of noncurrent liabilities.
- Total Liabilities
- Total liabilities represented a substantial portion of the total, ranging from 89.05% to 94.38% during the analyzed period. The peak in 2022 (94.38%) coincided with increases in both current and noncurrent liabilities. By 2025, the proportion of total liabilities had decreased to 90.44%, indicating a relative shift towards stockholders’ equity.
- Stockholders’ Equity
- Stockholders’ equity exhibited a notable recovery from 2021 to 2025. After falling to a low of 5.62% in 2022, it increased to 9.56% in 2025. This improvement was largely attributable to a reduction in the accumulated deficit, which moved from -43.95% in 2022 to -27.72% in 2025. Common stock and additional paid-in capital remained relatively stable, fluctuating between 34.04% and 37.56%. Accumulated other comprehensive loss remained a small negative percentage of the total.
- Specific Liability Accounts
- Income taxes payable showed significant volatility, peaking at 2.81% in 2024 before decreasing substantially to 0.42% in 2025. Sales deductions also experienced an upward trend, increasing from 8.46% to 11.71% over the five-year period. Employee compensation and benefits remained relatively stable, fluctuating within a narrow range of 1.42% to 1.77%.
In summary, the period witnessed a dynamic interplay between liabilities and equity. The increase in current liabilities suggests a potential shift in short-term financing strategies, while the reduction in long-term tax liabilities and the recovery of stockholders’ equity indicate positive developments in the company’s financial position.