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.
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- Income Statement
- Cash Flow Statement
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
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Apple Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-09-28), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-24), 10-K (reporting date: 2021-09-25), 10-K (reporting date: 2020-09-26), 10-K (reporting date: 2019-09-28).
The financial data reveals several trends and insights with respect to the company's asset composition and dynamics over the observed periods from 2019 to 2024.
- Cash and Cash Equivalents
- There is a noticeable decline from 48,844 million USD in 2019 to 23,646 million USD in 2022, followed by a recovery to approximately 29,943 million USD in 2024. This pattern indicates fluctuating liquidity positions, with a low point in 2022, before stabilization in subsequent years.
- Current Marketable Securities
- This asset category exhibits a decreasing trend from 51,713 million USD in 2019 to 24,658 million USD in 2022, followed by an increase to 35,228 million USD in 2024. The decline through 2022 may suggest divestment or reallocation of short-term investments, with a rebound suggesting renewed investment activity or improved market opportunities.
- Accounts Receivable, Net
- A decline is observed in 2020 to 16,120 million USD, but subsequent years reveal growth, reaching 33,410 million USD in 2024, the highest in the period. This pattern may imply improvements in sales or credit policies, resulting in higher receivables, which could impact cash flow management.
- Vendor Non-Trade Receivables
- This figure shows a general upward progression from 22,878 million USD in 2019 to 32,833 million USD in 2024, reflecting potential increases in intercompany transactions or advances to vendors, which may affect working capital considerations.
- Inventories
- Inventories fluctuate, initially slightly decreasing from 4,106 million USD in 2019 to 4,061 million USD in 2020, then rising sharply to 7,286 million USD in 2024. The increase indicates expansion in stock levels, possibly due to higher production or anticipation of demand growth.
- Other Current Assets
- After a small dip from 12,352 million USD in 2019 to 11,264 million USD in 2020, there is a rise peaking at 21,223 million USD in 2022 before settling around 14,287 million USD in 2024. This volatility suggests variability in other short-term receivables or prepaid items.
- Current Assets Total
- Current assets appear to have a downward trend from 162,819 million USD in 2019 down to 134,836 million USD in 2021, followed by recovery to 152,987 million USD in 2024. The trough in 2021 indicates a tightening in short-term asset holdings, which slightly reversed afterwards.
- Non-Current Marketable Securities
- These assets decrease steadily from a high of 127,877 million USD in 2021 down to 91,479 million USD in 2024, indicating a divestment trend or reprioritization away from longer-term securities.
- Property, Plant and Equipment (Net)
- There is a steady and moderate increase from 37,378 million USD in 2019 to 45,680 million USD in 2024, reflecting ongoing asset additions or capital expenditures possibly supporting operational capacity expansion.
- Deferred Tax Assets
- A continuous growth is observed throughout the periods, from 8,045 million USD in 2019 to 19,499 million USD in 2024. This increase might indicate the presence of future tax benefits arising from temporary differences or carryforwards.
- Other Non-Current Assets
- Two entries under this label both show consistent and significant growth, with values rising from 24,933 million USD and 32,978 million USD in 2019 to 55,335 million USD and 74,834 million USD respectively in 2024. The consistent increase highlights growing investments or capitalization in intangible or long-term assets.
- Non-Current Assets Total
- Non-current assets rise from 175,697 million USD in 2019 to a peak of 217,350 million USD in 2022 before slight decline and stabilization near 211,993 million USD in 2024. This upward trend reflects investment and growth in longer-term resources.
- Total Assets
- Total assets show some fluctuation but remain generally stable, starting at 338,516 million USD in 2019, a dip to 323,888 million USD in 2020, increasing to 352,755 million USD in 2022, and gradually rising further to 364,980 million USD in 2024. The overall trend suggests moderate growth in asset base over five years, with an observed dip likely related to broader economic or operational factors.
In summary, the data portrays an asset base characterized by fluctuations in liquidity and marketable securities, consistent enhancements in receivables and inventories, and sustained investment in non-current assets including property and deferred taxes. These dynamics indicate periodic shifts in asset management strategies, investment priorities, and operational growth within the observed timeframe.