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.
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Microsoft Corp. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Price to Operating Profit (P/OP) since 2005
- Price to Book Value (P/BV) since 2005
- Aggregate Accruals
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Microsoft Corp., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2024-06-30), 10-K (reporting date: 2023-06-30), 10-K (reporting date: 2022-06-30), 10-K (reporting date: 2021-06-30), 10-K (reporting date: 2020-06-30), 10-K (reporting date: 2019-06-30).
The financial data presents several notable trends over the period analyzed. Overall, total assets demonstrated a consistent upward trajectory, increasing from $286,556 million in mid-2019 to $512,163 million by mid-2024, reflecting substantial growth in the company's asset base.
Current assets experienced fluctuations, starting at $175,552 million in 2019, peaking in 2023 at $184,257 million, and then decreasing to $159,734 million in 2024. Within current assets, cash and cash equivalents rose from $11,356 million in 2019 to a peak of $34,704 million in 2023, followed by a significant decline to $18,315 million in 2024. Short-term investments show a steady decrease over the years, from $122,463 million in 2019 to $57,228 million in 2024, contributing to the reduced total of cash, cash equivalents, and short-term investments by 2024.
Accounts receivable showed consistent growth, increasing from $29,524 million in 2019 to $56,924 million in 2024, indicating an expanding volume of credit sales or delayed payments from customers. Inventories fluctuated, rising initially to $3,742 million in 2022 but then dropping sharply to $1,246 million in 2024, suggesting changes in inventory management or product demand. Other current assets also increased steadily, almost doubling from $10,146 million in 2019 to $26,021 million in 2024, contributing positively to current assets.
Long-term assets showed robust growth, escalating from $111,004 million in 2019 to $352,429 million in 2024. This growth was driven primarily by substantial increases in property and equipment, which nearly quadrupled from $36,477 million to $135,591 million, reflecting significant capital expenditures or asset acquisitions. Operating lease right-of-use assets also rose consistently, highlighting increased lease commitments or recognition following accounting standards.
Equity and other investments more than quintupled from $2,649 million in 2019 to $14,600 million in 2024, indicating strategic investment activities. Goodwill saw a marked increase after 2020, escalating from $42,026 million to $119,220 million in 2024, which may be related to acquisitions or business combinations. Intangible assets similarly increased, notably doubling in 2024 to $27,597 million after some fluctuations.
Other long-term assets showed continuous growth, nearly doubling from $14,723 million to $36,460 million, further supporting the rise in total long-term assets. Collectively, these patterns suggest a strategic emphasis on growth through investment in tangible and intangible assets, acquisitions, and expanded operations.