Celgene Corp. (NASDAQ:CELG)

Current Assets

The value of current assets experienced moderate fluctuations over the five-year period. Starting at approximately 9,713 million USD at the end of 2014, current assets slightly decreased in 2015 to 9,401 million USD. Subsequently, there was a notable increase in 2016 and 2017, reaching peaks of 10,868 million USD and 14,892 million USD respectively. However, by the end of 2018, current assets declined sharply to 9,067 million USD, returning to levels below those observed at the beginning of the period. This pattern suggests variability in short-term asset management or changing operational conditions affecting liquidity.

Adjusted Current Assets

Adjusted current assets closely mirrored the trend of current assets across all years, indicating consistency in the methods used for adjustments. Values started at 9,722 million USD in 2014, dipped slightly in 2015 to 9,419 million USD, then rose to a high of 14,908 million USD in 2017. This was followed by a significant decline to 9,083 million USD in 2018. The parallel movement between current assets and adjusted current assets suggests that the adjustments made did not substantially alter the overall asset position or its trend.

Overall Trend and Insights

The financial data reveals cyclical trends in both current and adjusted current assets, with growth phases during 2016 and 2017 followed by sharp contractions in 2018. The substantial increase in 2017 may reflect strategic asset accumulation or improved liquidity management, whereas the notable decrease in 2018 could indicate asset disposals, increased liabilities, or other operational changes. The close alignment between current and adjusted asset values suggests reliability and stability in asset valuation techniques over the period.

The financial data over the five-year period demonstrates a consistent upward trend in both total assets and adjusted total assets. Total assets increased significantly from US$17,340 million at the end of 2014 to US$35,480 million by the end of 2018. This indicates a substantial growth in the company’s asset base, effectively doubling over the analyzed timeframe.

Similarly, adjusted total assets show a similar growth pattern, rising from US$17,489 million in 2014 to US$35,847 million in 2018. The close alignment between total assets and adjusted total assets suggests that adjustments made to the total asset values did not materially affect the overall growth trend but rather provided a slightly refined perspective on the company’s asset value.

Total Assets

Exhibited steady and substantial growth each year, moving from 17.34 billion in 2014 to 35.48 billion in 2018.

Adjusted Total Assets

Followed the same increasing trajectory as total assets, starting at 17.49 billion in 2014 and reaching 35.85 billion in 2018, indicating consistent asset growth with minimal adjustment impact.

Overall, the data reflects strong growth in asset holdings, which may point to expansion activities, acquisitions, or capital investments during this period. The consistent yearly increases also suggest effective asset management strategies and a potential increase in the company's operational scale or financial strength.

Current Liabilities

Current liabilities exhibited a fluctuating but overall upward trend from 2014 to 2018. The values started at 2,112 million US dollars in 2014, decreased slightly to 1,969 million in 2015, then experienced a significant increase to 2,959 million in 2016. Following this rise, the liabilities continued to grow modestly in 2017 to 2,987 million and then surged sharply to 4,057 million by the end of 2018. This indicates a notable increase in the company's short-term financial obligations in the latter years of the period.

Adjusted Current Liabilities

Adjusted current liabilities closely mirrored the trend seen in current liabilities, beginning at 1,953 million US dollars in 2014 and declining slightly to 1,908 million in 2015. A marked increase occurred in 2016, bringing the figure to 2,904 million. In 2017, the adjusted liabilities held relatively steady at 2,912 million before increasing significantly to 3,984 million in 2018. Throughout the period, adjusted current liabilities consistently remained slightly lower than the reported current liabilities, which may suggest certain adjustments or exclusions in the reported figures to provide a clearer financial perspective.

Total liabilities

The total liabilities displayed a significant upward trend over the five-year period. Starting at approximately 10.8 billion US dollars at the end of 2014, the figure nearly doubled by the end of 2015, reaching about 21.1 billion. From 2015 to 2018, the total liabilities continued to increase gradually, reaching over 29.3 billion US dollars by the end of 2018. This reflects a considerable rise in the company's obligations during the timeframe.

Adjusted total liabilities

The adjusted total liabilities followed a pattern closely parallel to that of total liabilities. Beginning at approximately 10.3 billion US dollars in 2014, the adjusted liabilities rose sharply to around 20.9 billion in 2015. Thereafter, the growth moderated, with an increase to nearly 26.8 billion by year-end 2018. This indicates consistent growth in liabilities even after adjustments, though the gap between total and adjusted liabilities widened slightly over time.

The analysis of the annual financial data reveals trends primarily focused on stockholders' equity and adjusted stockholders’ equity over a five-year period.

Stockholders' Equity

The stockholders' equity displayed a fluctuating pattern over the period. It started at 6,525 million US dollars as of December 31, 2014, then decreased to 5,919 million by the end of 2015. An upward trend resumed following this dip, with equity reaching 6,599 million in 2016 and increasing further to 6,921 million by 2017. However, a decline occurred again in 2018, ending at 6,161 million. Overall, this item shows moderate volatility without a clear directional growth trend, concluding slightly below the initial level noted in 2014.

Adjusted Stockholders' Equity

In contrast, the adjusted stockholders’ equity followed a generally positive trajectory throughout the same period. Beginning at 7,220 million US dollars in 2014, it experienced a decrease in 2015 to 6,340 million but recovered slightly to 6,560 million in 2016. Thereafter, a strong improvement is evident, with a significant increase to 8,350 million in 2017, continuing upwards to 9,052 million by the end of 2018. This trend indicates enhanced shareholder value or adjusted asset base when accounting for certain adjustments, showing resilience and robust growth in recent years.

Comparing both measures, adjusted stockholders’ equity demonstrates a more favorable upward trend compared to the standard stockholders' equity figure. The divergence suggests that adjustments—potentially related to revaluation, intangible assets, or other factors—are driving an enhanced representation of equity value over time. The volatility in reported stockholders’ equity warrants attention to the underlying causes, while the improving adjusted equity may reflect strengthening financial health from a comprehensive perspective.

Total Reported Debt

The total reported debt has shown a consistent upward trend over the analyzed period from 2014 to 2018. It more than doubled, increasing from $6,872 million in 2014 to $20,270 million in 2018, indicating a substantial increase in the company's leverage and borrowing activities.

Stockholders’ Equity

Stockholders’ equity has fluctuated over the years, initially declining from $6,525 million in 2014 to $5,919 million in 2015, followed by a moderate recovery to $6,921 million in 2017. However, it decreased again in 2018 to $6,161 million. This pattern reflects some volatility in the net asset base available to shareholders during the period.

Total Reported Capital

Total reported capital, the sum of reported debt and equity, increased steadily from $13,396 million in 2014 to $26,431 million in 2018. This growth mirrors the rise primarily driven by increased debt levels, while equity experienced less consistent change.

Adjusted Total Debt

The adjusted total debt figures align closely with the reported debt, showing a rising trend from $7,068 million in 2014 to $20,645 million in 2018. This further confirms the company's increased reliance on debt financing during this timeframe.

Adjusted Stockholders’ Equity

Unlike the reported equity, adjusted stockholders’ equity showed a different trajectory. After a decline in 2015 to $6,340 million, it exhibited continuous growth, reaching $9,052 million by 2018. This suggests that certain adjustments applied to equity account for positive factors not reflected in the reported figures.

Adjusted Total Capital

The adjusted total capital also rose consistently from $14,289 million in 2014 to $29,697 million in 2018. This increase was driven by rises in both adjusted debt and adjusted equity, indicating overall growth in the company’s capital base, supported by financing sources and equity adjustments.

Net Product Sales

The net product sales demonstrated a consistent upward trend over the five-year period from 2014 to 2018. Starting at 7,564 million US dollars in 2014, the figure increased annually to reach 15,265 million US dollars by the end of 2018. This represents an approximate doubling in sales, indicating strong growth in the company’s product revenue.

Adjusted Net Product Sales

Adjusted net product sales followed a pattern nearly identical to net product sales, starting at 7,569 million US dollars in 2014 and rising steadily to 15,302 million US dollars in 2018. The minor difference between adjusted and unadjusted sales figures each year suggests that adjustments made have little impact on the overall sales figures.

Overall Trends and Insights

The consistent increase in both net and adjusted net product sales over the five-year span reflects positive sales momentum and potentially successful product initiatives or market expansion. The close alignment of adjusted sales with reported figures indicates stable accounting or minimal adjustments impacting the core sales data.

Net Income

Net income showed a fluctuating yet overall increasing trend over the given period. Starting at 2000 million US dollars at the end of 2014, there was a decline to 1602 million in 2015, followed by a recovery to 1999 million in 2016. From 2016 onwards, net income increased significantly, reaching 2940 million in 2017 and further rising to 4046 million in 2018. This indicates a strong growth in profitability during the latter years.

Adjusted Net Income

Adjusted net income exhibited a somewhat different pattern compared to net income. It started at 2546 million US dollars at the end of 2014 but then experienced a marked decline to 1453 million in 2015 and further decreased to 1296 million in 2016. There was a modest recovery to 1535 million in 2017, followed by a substantial increase to 4348 million in 2018. The dramatic rise in adjusted net income in 2018 suggests factors not captured in the standard net income measure influenced profitability significantly in that year.

Comparative Insights

While both metrics reflect a dip in 2015 and 2016, the adjusted net income shows a sharper decline and slower recovery initially. The net income measure appears more stable through the middle years but does not capture the extraordinary improvement seen in the adjusted net income by 2018. This divergence in 2018 may suggest that adjustments made to net income involve significant one-time items, non-recurring expenses or incomes, or accounting changes that positively affected the adjusted figure.

Overall Summary

The data reflects a general trend of profitability recovery and growth, with notable volatility in adjusted net income during the mid-period and a remarkable increase in 2018. This pattern indicates underlying business improvements, cost management, or other operational factors contributing to stronger financial performance in the final reported year.