Stock Analysis on Net
AI Tokens
Stock Analysis on Net

Celgene Corp. (NASDAQ:CELG)

This company has been moved to the archive! The financial data has not been updated since October 31, 2019.

Common-Size Balance Sheet: Assets

Celgene Corp., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015 Dec 31, 2014
Cash and cash equivalents 11.93 23.27 21.97 18.04 23.77
Debt securities available-for-sale 1.40 10.68 0.00 0.00 0.00
Equity investments with readily determinable fair values 3.70 6.01 0.00 0.00 0.00
Marketable securities available-for-sale 0.00 0.00 6.41 6.18 19.75
Accounts receivable, net of allowances 5.82 6.37 5.77 5.25 6.73
Inventory 1.29 1.79 1.77 1.64 2.27
Income tax receivable 0.00 0.00 0.15 0.00 0.00
Other receivables 0.32 0.27 0.10 0.00 0.00
Derivative assets 0.19 0.05 1.29 1.51 0.00
Other prepaid taxes 0.39 0.34 0.42 0.63 0.00
Prepaid income taxes 0.00 0.00 0.34 0.59 0.00
Prepaid maintenance and software licenses 0.15 0.14 0.14 0.11 0.00
Other 0.36 0.50 0.33 0.80 3.50
Other current assets 1.41% 1.29% 2.77% 3.64% 3.50%
Current assets 25.56% 49.41% 38.69% 34.75% 56.01%
Property, plant and equipment, net 3.85 3.55 3.31 3.01 3.71
Intangible assets, net 45.70 27.99 37.00 40.14 23.46
Goodwill 22.56 16.14 17.32 18.03 12.64
Other non-current assets 2.34 2.91 3.67 4.07 4.19
Non-current assets 74.44% 50.59% 61.31% 65.25% 43.99%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-K (reporting date: 2018-12-31), 10-K (reporting date: 2017-12-31), 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31).

The asset composition of the entity reflects a significant structural shift between 2014 and 2018, characterized by a transition from a liquid-heavy balance sheet to one dominated by non-current, intangible assets. This transition is most evident in the volatility of current assets and the steady accumulation of intangible value.

Liquidity and Current Asset Trends
Current assets exhibited substantial fluctuation, starting at 56.01% of total assets in 2014, peaking again in 2017 at 49.41%, before dropping sharply to 25.56% by 2018. Cash and cash equivalents followed a general downward trajectory, decreasing from 23.77% in 2014 to 11.93% in 2018. This decline in liquidity is further highlighted by the disappearance of marketable securities available-for-sale, which represented 19.75% of assets in 2014 but were no longer reported as a distinct category by 2018, although debt securities and equity investments appeared briefly in 2017.
Non-Current Asset Expansion
Non-current assets saw a corresponding increase, rising from 43.99% in 2014 to a peak of 74.44% in 2018. The primary drivers of this growth were intangible assets and goodwill. Intangible assets, net, nearly doubled as a percentage of total assets, moving from 23.46% in 2014 to 45.70% in 2018. Similarly, goodwill increased from 12.64% to 22.56% over the same period. The combined weight of these two items reached approximately 68.26% of the total asset base by the end of 2018, suggesting a strategy focused on acquisitions or the capitalization of intellectual property.
Operating Asset Stability
In contrast to the volatility in liquid and intangible assets, core operating assets remained relatively stable. Property, plant, and equipment, net, consistently represented a small fraction of the balance sheet, fluctuating narrowly between 3.01% and 3.85%. Accounts receivable, net of allowances, maintained a steady range between 5.25% and 6.73%, while inventory showed a gradual decline from 2.27% in 2014 to 1.29% in 2018, indicating a lean approach to inventory management relative to the overall growth of the asset base.

AI Ask an analyst for more

My previous chats

Add tokens

Hi, I’m an AI-powered financial analyst at Stock Analysis on Net.

How can I help you?