Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value (EV)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Operating Profit (P/OP) since 2005
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Biogen Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31), 10-K (reporting date: 2017-12-31), 10-Q (reporting date: 2017-09-30), 10-Q (reporting date: 2017-06-30), 10-Q (reporting date: 2017-03-31).
- Cash and Cash Equivalents
- The proportion of cash and cash equivalents as a percentage of total assets demonstrates variability throughout the observed periods. It initially increased from 4.36% in Q1 2017 to a notable peak of 15.75% in Q2 2018, followed by fluctuating decreases and increases, ending at a high of 14.79% in Q3 2022. This suggests periods of increased liquidity management efforts or cash holdings for strategic initiatives.
- Marketable Securities (Current)
- Marketable securities as a percentage of total assets showed oscillation, beginning at 9.23% in Q1 2017 and generally declining with minor deviations, reaching a low of 4.97% in Q3 2022. This downward trend suggests a reduction in short-term investment holdings or shifts in asset allocation strategy.
- Accounts Receivable, Net
- Accounts receivable maintained relative stability across the periods, with percentages fluctuating moderately around approximately 7%, from 7.08% in Q1 2017 to 6.31% in Q3 2022. This stability indicates consistent credit sales policies and collection practices.
- Due from Anti-CD20 Therapeutic Programs
- The balances due from anti-CD20 therapeutic programs remained fairly consistent, fluctuating slightly around the 1.5%-2.3% range of total assets without clear upward or downward trends, reflecting stable related party or programmatic financial arrangements.
- Inventory
- Inventory levels as a proportion of total assets experienced a continuous rise starting from 4.35% in Q1 2017, dipping slightly mid-period, and then increasing steadily post-2019, reaching 5.53% by Q3 2022. The incremental build-up of inventory may reflect preparations for increased sales demand or changes in supply chain strategies.
- Assets Held for Sale
- Assets held for sale appeared briefly in Q1 and Q2 2019 at approximately 2.58%-2.60% of total assets, with no further occurrences. This indicates a specific divestiture or planned disposal occurring in that timeframe.
- Other Current Assets
- Other current assets decreased from 5.81% in Q1 2017 to a low of about 2.32% in Q4 2019, followed by a notable increase reaching 6.56% in Q2 2022 before a slight decline. This suggests variability in other receivables or prepaid expenses, possibly due to operational changes or fluctuating accrued items.
- Current Assets
- The aggregate current assets as a percentage of total assets showed some volatility, initially around 32-33% in 2017, peaking at 39.29% in Q3 2022. This rise towards the end of the series aligns with the increases in cash, inventory, and other current assets, indicating a growth in liquid and near-liquid holdings.
- Marketable Securities (Long-term)
- Long-term marketable securities showed a decreasing trend from 13.33% in Q1 2017 to a low near 3.46% in Q3 2022, reflecting a strategic decline in long-term investment assets or reallocations to other asset classes.
- Property, Plant and Equipment, Net
- Property, plant, and equipment as a proportion of total assets exhibited minor fluctuations but remained relatively stable, centered around the 12%-14% range, indicating steady investment in tangible fixed assets over the period.
- Operating Lease Assets
- Operating lease assets were recorded starting in Q1 2019, ranging from about 1.28% to 1.76% of total assets through Q3 2022. The slight decline in later periods may reflect lease terminations or changes in lease accounting treatments.
- Intangible Assets, Net
- Intangible assets showed a declining trend from 19.36% in Q1 2017 to 8.08% by Q3 2022, a considerable decrease suggesting amortization, impairment, or divestitures impacting intangible asset balances.
- Goodwill
- Goodwill as a percentage of total assets generally increased over the period from 17.04% in Q1 2017 to around 23% in the later years, which may indicate acquisitions and consolidation activities contributing to higher goodwill balances.
- Deferred Tax Asset
- Deferred tax assets were not present in early periods but emerged in Q4 2017 at 2.52% and increased significantly to near 11.9% by Q4 2019, then decreased to approximately 4.73% in Q3 2022. This pattern reflects changes in tax positions, timing differences, or recognition of deferred tax benefits.
- Investments and Other Assets
- This category showed considerable variability, starting at 5.59% in Q1 2017, declining substantially by Q4 2017, then rebounding to a peak of 11.78% in Q4 2020, followed by a gradual decline to 6.49% in Q3 2022. The fluctuations may indicate episodic investments or asset reclassifications.
- Long-term Assets
- Long-term assets as a percentage of total assets showed a general decrease from 67.64% in Q1 2017 to 60.71% in Q3 2022, with intermediate fluctuations. This trend suggests a modest shift in asset composition towards current assets over time.
- Total Assets
- The total always represents 100% by definition, serving as the base for the proportions assessed.