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.
Broadcom Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-11-02), 10-K (reporting date: 2024-11-03), 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: 2020-11-01).
The analysis of the annual financial data reveals several notable trends in the company's asset structure and composition over the observed periods.
- Liquidity Position
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Cash and cash equivalents show a general upward trend with some volatility, increasing from 7,618 million US dollars in late 2020 to 16,178 million US dollars by late 2025. A significant dip is observed in 2024, where cash decreased to 9,348 million before rising sharply again.
- Receivables and Inventory
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The net trade accounts receivable exhibit growth across the years, rising from 2,297 million US dollars in 2020 to 7,145 million US dollars in 2025, indicating expansion in sales or potentially longer collection periods. Inventory levels also increased from 1,003 million US dollars in 2020 to 2,270 million US dollars in 2025, with some fluctuations, suggesting higher stockholding consistent with operational growth or demand projections.
- Contract Assets and Prepaid Expenses
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The current portion of contract assets appears from 2023 onwards, increasing significantly to 5,005 million US dollars by 2025, which might reflect changes in revenue recognition or contract structuring. Prepaid expenses fluctuate, peaking at 1,391 million US dollars in 2024 before decreasing to 518 million US dollars in 2025, indicating varying prepayment patterns possibly linked to operational or strategic changes.
- Other Current Assets
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Other current assets demonstrate considerable growth, rising from 977 million US dollars in 2020 to 5,980 million US dollars in 2025, particularly showing large increments after 2022. This increase contributes to the overall rise in total current assets, which nearly triples from 11,895 million US dollars in 2020 to 31,573 million US dollars in 2025.
- Property, Plant, and Equipment
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Property, plant, and equipment (net) show a slight downward trend initially, from 2,509 million US dollars in 2020 to 2,154 million US dollars in 2023, then a modest recovery to 2,530 million US dollars by 2025, indicating stable but cautious investment in fixed assets.
- Intangible and Goodwill Assets
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Goodwill remains fairly constant around 43,447 to 43,653 million US dollars from 2020 through 2023, then nearly doubles to approximately 97,800 million US dollars in 2024 and 2025, pointing to major acquisitions or business combinations in that timeframe.
Intangible assets net values decline steadily from 16,782 million US dollars in 2020 to 3,867 million US dollars in 2023 before rising sharply to over 40,583 million US dollars in 2024 and then dropping to 32,273 million US dollars in 2025. This pattern is consistent with amortization and subsequent substantial intangible asset additions likely connected with acquired entities.
- Other Long-Term Assets
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Other long-term assets increase steadily from 1,300 million US dollars in 2020 to 6,915 million US dollars in 2025, suggesting ongoing investments in long-duration resources or financial instruments supporting long-term business operations.
- Total Asset Base
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Total assets remain relatively stable from 2020 to 2023, hovering around 73,000 to 76,000 million US dollars, then experience a dramatic surge to over 165,000 million US dollars in 2024 and further to 171,092 million US dollars in 2025. This growth aligns with the significant increases in goodwill, intangible assets, and current assets, reflecting possible strategic expansions or acquisitions.
In summary, the company demonstrates strong growth in its asset base primarily driven by acquisition-related goodwill and intangible assets, an expanding current asset position, alongside maintained investments in property, plant, and equipment. The liquidity remains robust despite fluctuations, and the increase in contract assets and other current assets indicates evolving operational or contractual dynamics. The overall asset turnover perspective would benefit from further analysis to evaluate efficiency post these expansions.