Balance Sheet: Assets
Quarterly Data
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.
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Amgen Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Assets (ROA) since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Aggregate Accruals
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Amgen Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
Total assets exhibited a significant overall increase from March 31, 2021, to March 31, 2026, growing from 62,539 million USD to 92,504 million USD. This expansion was characterized by a period of relative stability followed by a substantial structural shift in the fourth quarter of 2023, where total assets peaked at 97,154 million USD before stabilizing in the 90 billion USD range.
- Liquidity and Current Asset Trends
- Cash and cash equivalents showed high volatility, most notably peaking between March and September 2023 with values exceeding 31,000 million USD. This surge was followed by a sharp contraction by December 31, 2023, returning to a baseline range of 8,000 to 12,000 million USD. Simultaneously, marketable securities were phased out entirely, dropping from 4,454 million USD in early 2021 to zero by March 2023, indicating a strategic shift in short-term capital allocation.
- Working Capital Dynamics
- Trade receivables demonstrated a consistent long-term upward trajectory, increasing from 4,423 million USD in March 2021 to 9,138 million USD by March 2026. Inventories remained stable near 4,000 to 5,000 million USD for several years until a significant spike to 9,518 million USD in December 2023, after which a gradual decline was observed, ending at 6,186 million USD in March 2026.
- Fixed and Long-term Asset Growth
- Property, plant, and equipment (net) showed steady, incremental growth throughout the entire period, rising from 4,855 million USD to 8,216 million USD, suggesting continuous investment in physical infrastructure. Other noncurrent assets also trended upward, nearly doubling from 5,765 million USD in March 2021 to 12,760 million USD by March 2026.
- Intangible Assets and Goodwill
- A pivotal increase in noncurrent assets occurred in December 2023. Intangible assets, net, jumped from 13,150 million USD in September 2023 to 32,641 million USD in December 2023, followed by a steady amortization trend down to 21,379 million USD by March 2026. Goodwill followed a similar pattern, stepping up from approximately 15,500 million USD to a plateau of roughly 18,600 million USD starting in late 2023, which is indicative of a major acquisition event during that period.