Common-Size Balance Sheet: Assets
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- Income Statement
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Return on Equity (ROE) since 2005
- Total Asset Turnover since 2005
- Price to Book Value (P/BV) since 2005
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Biogen Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31), 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents in total assets showed variability over the analyzed years, starting at 6.65% in 2017, decreasing to 4.84% in 2018, then increasing significantly to 10.7% in 2019, followed by a decrease to 5.41% in 2020 and a recovery to 9.47% in 2021. This indicates fluctuating liquidity levels within the company’s asset structure.
- Marketable securities
- Marketable securities as a percentage of total assets declined notably from 8.94% in 2017 to a low of 5.19% in 2020, with a slight rebound to 6.45% in 2021. This suggests a reduction in short-term investment holdings during this period.
- Accounts receivable, net
- Accounts receivable maintained a relatively stable share, fluctuating modestly between 6.49% and 7.77%, indicating consistent exposure to receivables assets over time.
- Due from anti-CD20 therapeutic programs
- The percentage of assets due from anti-CD20 therapeutic programs remained relatively steady, dominating at a low range just above 1.6% and declining slightly over the years, suggesting consistent but limited reliance on this asset category.
- Inventory
- Inventory as a portion of total assets decreased from 3.82% in 2017 to 2.95% in 2019, then increased significantly to reach 5.66% in 2021. The rise in inventory holdings towards the end of the period may reflect changes in production, sales strategy, or supply chain dynamics.
- Other current assets
- Other current assets showed a decline from 4.07% in 2017 to 2.32% in 2019 but recovered to 3.58% in 2020 before slightly decreasing again to 3.1% in 2021. This indicates some variability in miscellaneous current assets across the years.
- Current assets
- The overall current assets proportion of total assets gradually decreased from 33.29% in 2017 to a low of 27.97% in 2020, followed by an increase to 32.9% in 2021. This reflects a trend toward a lower liquidity ratio mid-period with a partial reversal later on.
- Long-term marketable securities
- The allocation to marketable securities listed separately within long-term assets declined sharply from 12.93% in 2017 to 3.14% in 2020, with a minor uptick to 3.74% in 2021. This substantial reduction points to a divestment or reallocation away from long-term marketable securities.
- Property, plant and equipment, net
- Property, plant, and equipment maintained a fairly stable share of total assets between 11.92% and 14.31%, showing minor fluctuations but no major structural changes, indicating consistent investment in fixed assets.
- Operating lease assets
- Operating lease assets were reported starting in 2019, comprising 1.57% of total assets, increasing slightly to 1.76% in 2020, and then falling back to 1.57% in 2021. This relatively small but stable presence signifies recognition of lease-related assets post accounting standard updates.
- Intangible assets, net
- Intangible assets declined notably from 16.4% in 2017 to 9.3% in 2021, indicating amortization, impairment, or possible disposals of intangible asset holdings during the period.
- Goodwill
- Goodwill increased from 19.59% in 2017 to 24.13% in 2021, reflecting acquisitions or revaluation gains, which enhanced the proportion of goodwill within total assets over time.
- Deferred tax asset
- Deferred tax assets showed a marked increase from 2.52% in 2017 peaking at 11.87% in 2019, followed by a reduction to around 5.93% in 2021. This pattern may indicate fluctuations in recognized tax benefits relative to asset base.
- Investments and other assets
- Investments and other assets experienced considerable volatility, rising from 1.82% in 2017 to 11.78% in 2020, before decreasing to 8.12% in 2021. This suggests changes in less liquid or miscellaneous long-term asset categories over the period.
- Long-term assets
- The overall share of long-term assets remained dominant, fluctuating around 67% to 72% of total assets. This stability underscores a deliberate asset structure favoring long-term holdings throughout the years.