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
- Statement of Comprehensive Income
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Return on Equity (ROE) since 2005
- Return on Assets (ROA) since 2005
- Analysis of Revenues
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Applied Materials Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-10-27), 10-K (reporting date: 2023-10-29), 10-K (reporting date: 2022-10-30), 10-K (reporting date: 2021-10-31), 10-K (reporting date: 2020-10-25), 10-K (reporting date: 2019-10-27).
The analyzed financial data reveals several key trends and developments over the period from 2019 to 2024, reflecting changes in liquidity, asset composition, and investment in long-term resources.
- Liquidity Position
- Cash and cash equivalents demonstrated notable volatility, starting at 3,129 million USD in 2019, peaking at 8,022 million in 2024 after a significant dip in 2022 to 1,995 million. Short-term investments fluctuated but grew steadily overall, doubling from 489 million in 2019 to 1,449 million in 2024. Combined current assets rose substantially from 10,206 million to 21,220 million, indicating a strengthening liquidity base by the end of the period.
- Accounts Receivable and Inventories
- Accounts receivable, net, showed a steep increase through 2022, reaching 6,068 million before moderately declining to 5,234 million in 2024. Inventories expanded consistently, from 3,474 million in 2019 to a peak of 5,932 million in 2022, then slightly decreasing in subsequent years. This suggests higher sales volumes or changes in inventory management practices, with some inventory reduction after 2022.
- Prepaid and Other Current Assets
- Prepaid income taxes and income taxes receivable experienced a peak in 2021 at 593 million but reduced sharply to 120 million by 2024. Prepaid expenses and other current assets steadily increased, reaching 974 million in 2024. Other current assets nearly doubled from 581 million in 2019 to 1,094 million in 2024, despite some fluctuations, reflecting growing miscellaneous short-term assets.
- Long-Term Investments and Fixed Assets
- Long-term investments exhibited gradual growth, expanding from 1,703 million to 2,787 million over the timeframe. Property, plant, and equipment, net, increased markedly from 1,529 million to 3,339 million, showing active investment in fixed assets. The inclusion of finance lease right-of-use assets from 2023 added to the property and equipment base, indicating utilization of leasing arrangements for asset acquisition.
- Intangible Assets and Goodwill
- Goodwill maintained a relatively stable position, increasing slightly from 3,399 million in 2019 to 3,732 million in 2024. Purchased technology and other intangible assets showed volatility, with values dropping in 2021 but recovering somewhat by 2024 to 249 million, which may indicate write-downs or amortization effects followed by new acquisitions.
- Deferred Taxes and Other Long-Term Assets
- Non-current deferred income taxes declined initially from 1,766 million to 1,395 million in 2022 but rebounded to 2,393 million by 2024. Operating lease right-of-use assets were recognized starting 2020, increasing to 375 million by 2024, highlighting adaptation to lease accounting standards. Income tax receivables and other non-current assets showed high variability, peaking in 2022 before declining. Overall, deferred income taxes and other assets rose from 2,031 million to 3,082 million, signifying growing long-term asset components.
- Total Asset Growth
- Total assets increased steadily from 19,024 million in 2019 to 34,409 million in 2024, nearly doubling over five years. The growth was driven by expansions in both current and non-current assets, reflecting overall business growth and increased investment in working capital and long-term resources.