Balance Sheet: Assets
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.
Paying user area
Try for free
Amgen Inc. pages available for free this week:
- Cash Flow Statement
- Common-Size Balance Sheet: Assets
- Analysis of Liquidity Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to Amgen Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Amgen Inc., consolidated balance sheet: assets
US$ in millions
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).
Total assets experienced significant growth between 2021 and 2023, followed by a slight decline in 2024 and 2025. This overall trend is primarily driven by changes in both current and noncurrent asset compositions. A detailed examination of individual asset categories reveals varying patterns.
- Liquidity & Current Assets
- Current assets demonstrated a substantial increase from US$19.385 billion in 2021 to US$30.332 billion in 2023. This growth was fueled by increases in trade receivables, inventories, prepaid expenses, and other current assets. However, current assets decreased to US$29.030 billion in 2024 and remained relatively stable at US$29.057 billion in 2025. Cash and cash equivalents exhibited volatility, increasing from US$7.989 billion in 2021 to US$11.973 billion in 2024 before decreasing to US$9.129 billion in 2025. Marketable securities saw a large increase between 2021 and 2022, but values are unavailable for subsequent years. The increase in trade receivables and inventories suggests potential growth in sales or a build-up of finished goods, respectively.
- Long-Term Investments & Intangibles
- Noncurrent assets also increased significantly between 2021 and 2023, rising from US$41.780 billion to US$66.822 billion. This increase was largely attributable to substantial growth in intangible assets, which more than doubled during this period. Property, plant, and equipment, net, and goodwill also experienced moderate growth. In 2024 and 2025, noncurrent assets decreased to US$62.809 billion and US$61.529 billion, respectively, primarily due to a decrease in intangible assets. The significant increase in intangible assets between 2022 and 2023 warrants further investigation to understand the nature of these assets and their potential impact on future performance.
- Goodwill & Other Noncurrent Assets
- Goodwill remained relatively stable throughout the period, increasing modestly from US$14.890 billion in 2021 to US$18.680 billion in 2025. Other noncurrent assets showed an increasing trend, rising from US$6.524 billion in 2021 to US$12.660 billion in 2025, indicating potential investments in long-term strategic initiatives or acquisitions.
- Overall Asset Composition
- The proportion of noncurrent assets to total assets increased from approximately 68.3% in 2021 to 68.8% in 2023, before decreasing to 68.5% in 2025. This suggests a growing reliance on long-term assets to generate future value. The fluctuations in intangible assets significantly influence the overall asset composition and require ongoing monitoring.
In summary, the asset base experienced considerable expansion between 2021 and 2023, driven by both current and noncurrent assets. The subsequent stabilization and slight decline in total assets in 2024 and 2025 suggest a potential shift in investment strategy or a realization of previously accumulated assets. The significant changes in intangible assets are a key area for further analysis.