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.
Based on: 10-Q (reporting date: 2026-04-26), 10-Q (reporting date: 2026-01-25), 10-K (reporting date: 2025-10-26), 10-Q (reporting date: 2025-07-27), 10-Q (reporting date: 2025-04-27), 10-Q (reporting date: 2025-01-26), 10-K (reporting date: 2024-10-27), 10-Q (reporting date: 2024-07-28), 10-Q (reporting date: 2024-04-28), 10-Q (reporting date: 2024-01-28), 10-K (reporting date: 2023-10-29), 10-Q (reporting date: 2023-07-30), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-29), 10-K (reporting date: 2022-10-30), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-05-01), 10-Q (reporting date: 2022-01-30), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-08-01), 10-Q (reporting date: 2021-05-02), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-25), 10-Q (reporting date: 2020-07-26), 10-Q (reporting date: 2020-04-26), 10-Q (reporting date: 2020-01-26).
Total assets exhibit a consistent and significant upward trajectory, expanding from 19.77 billion US dollars in January 2020 to 40.29 billion US dollars by April 2026. This expansion is characterized by a steady increase in both current and non-current asset bases, indicating a broad scaling of operations and financial capacity over the observed period.
- Liquidity and Current Asset Trends
- Current assets grew from 10.77 billion US dollars to 22.57 billion US dollars. Cash and cash equivalents demonstrated notable volatility, peaking at 8.29 billion US dollars in July 2024 before stabilizing in the 6 to 7 billion US dollar range. Short-term investments remained relatively low for several years but showed a sharp increase starting in late 2024, reaching 1.94 billion US dollars by April 2026.
- Accounts receivable, net, showed a general upward trend, increasing from 2.68 billion US dollars in early 2020 to 6.37 billion US dollars by April 2026, suggesting an increase in credit sales or a longer collection cycle associated with higher revenue volumes.
- Inventories experienced a steady climb from 3.47 billion US dollars to 6.34 billion US dollars, reflecting a sustained increase in the volume of goods held to support growth in production and delivery capabilities.
- Long-Term Investment and Infrastructure Growth
- Non-current assets nearly doubled, rising from 9.00 billion US dollars to 17.72 billion US dollars. The most prominent growth is observed in Property, Plant, and Equipment (PP&E), net, which increased from 1.56 billion US dollars in January 2020 to 5.26 billion US dollars by April 2026. This suggests an aggressive investment in physical infrastructure and production capacity.
- Long-term investments showed a marked acceleration in the latter half of the period, growing from approximately 2.91 billion US dollars in January 2024 to 5.14 billion US dollars by April 2026.
- Goodwill remained relatively stable, fluctuating slightly between 3.40 billion US dollars and 3.82 billion US dollars, indicating that growth has been driven primarily by organic investment and capacity expansion rather than major acquisitions.
The overall financial structure indicates a shift toward a more asset-heavy balance sheet. The simultaneous growth in PP&E and inventories suggests a strategic focus on increasing operational scale. While liquidity remains robust through high cash balances, the increase in receivables and long-term investments indicates a diversification of asset allocation toward both operational growth and financial instruments.
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