Common-Size Balance Sheet: Assets
Quarterly Data
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- Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2005
- Analysis of Revenues
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Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets displayed moderate fluctuations from early 2019 through 2023, generally ranging between approximately 9% and 18%. There was a notable peak in early 2024 with a significant increase to nearly 60%, before sharply decreasing again by mid-2025. This suggests a temporary substantial buildup of cash holdings during that period.
- Short-term investments
- The percentage of short-term investments began to be reported from late 2021 onward, showing a gradual decline from around 1.7% to 0.14% by mid-2025. This decline indicates a reduction in liquid investment securities over time, particularly towards the later periods.
- Cash, cash equivalents and short-term investments
- Combining cash equivalents and short-term investments reflects a similar trend to cash alone, with a general upward movement through 2021 and 2022 followed by a dramatic spike early in 2024, then a decrease by mid-2025. This signals an overall increase in liquid assets prior to 2024, with an exceptional accumulation early in 2024 followed by reduction.
- Accounts receivable, net
- Net accounts receivable as a percentage of total assets varied between approximately 2.9% and 12%. It experienced a declining trend from early 2019 to around mid-2025, suggesting a reduced relative volume of receivables on the balance sheet over time, particularly declining sharply after early 2024.
- Inventories
- Inventory levels as a proportion of total assets showed moderate variability, increasing gradually from about 2.0% in early 2019 to around 3.6% by early 2024, before decreasing noticeably toward mid-2025. This pattern may reflect changes in inventory management or sales cycles over time.
- Prepaid and other current assets
- These assets steadily increased their share of total assets from about 4.2% in early 2019 to over 9% by early 2025, indicating an expanding component of current assets held in prepaid or other forms, which might imply changes in payment timing or asset composition.
- Current assets held for sale
- This item was largely unreported until a sharp appearance close to 9% in early 2025, dropping quickly afterward, which suggests the classification of certain assets as held for sale during that period, followed by divestment or reclassification.
- Current assets overall
- The total current assets as a percentage of total assets generally hovered in the high 20% to low 30% range from 2019 through 2023, with a marked increase to over 70% early in 2025 primarily driven by spikes in cash and cash equivalents and current assets held for sale. This indicates a temporary strong shift towards liquidity and short-term holdings.
- Property and equipment, net
- This category slightly decreased over time from about 6% down to below 1.5% by mid-2025, reflecting a diminishing investment or net book value in tangible fixed assets relative to total assets.
- Operating lease right-of-use assets, net
- Reported from 2020 onward, these assets showed a decreasing trend from around 6.4% down to below 1.5% in mid-2025, indicative of a reduction in leased asset usage or related balance sheet recognition.
- Goodwill
- Goodwill consistently represented a significant proportion of total assets, approximately 40%-50% from 2019 to early 2023, but experienced a substantial decline to around 15% in early 2025. This trend could suggest impairment charges, divestitures, or revaluation leading to a reduced intangible asset base attributed to acquisitions.
- Intangible assets, net
- Net intangible assets decreased moderately from over 5% early in 2019 to below 1% by mid-2025, with a temporary rise in 2024. Such decreases may indicate amortization or write-downs reducing the recorded value of intangible assets over time.
- Deferred income taxes
- The percentage of deferred income taxes increased steadily over the period, growing from about 5.3% to over 10% by early 2025. This trend signals an increasing recognition of deferred tax assets or liabilities on the balance sheet relative to total assets.
- Other long-term assets
- Other long-term assets as a proportion of total assets remained relatively stable, fluctuating mildly between roughly 2.3% and 6.5%, with some downward movement toward 2025, which suggests a consistent but slightly contracting component of long-term asset holdings outside main categories.
- Long-term assets overall
- Long-term assets consistently constituted the majority of total assets, maintaining levels near 70% until early 2024, when a sharp drop to under 30% occurred, followed by a recovery to nearly 90% at one point, and stabilizing around 50%-60% thereafter. These major fluctuations appear connected to significant reclassifications or valuation changes, potentially relating to goodwill, intangible assets, and the mid-2024 changes in current asset composition.
- Total assets
- By definition, total assets are constant at 100% each period, serving as the basis for relative comparisons among asset categories.