Stock Analysis on Net
Stock Analysis on Net

Vertex Pharmaceuticals Inc. (NASDAQ:VRTX)

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Common-Size Balance Sheet: Assets

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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: assets

Microsoft Excel
Dec 31, 2024 Dec 31, 2023 Dec 31, 2022 Dec 31, 2021 Dec 31, 2020
Cash and cash equivalents
Marketable securities
Accounts receivable, net
Inventories
Tax-related prepaid and receivables
Prepaid expenses
Fair value of cash flow hedges
Other
Prepaid expenses and other current assets
Current assets
Property and equipment, net
Goodwill
Other intangible assets, net
Deferred tax assets
Operating lease assets
Long-term marketable securities
Other assets
Non-current assets
Total assets

Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets remained relatively stable around 50% from 2020 to 2021, peaked at nearly 58% in 2022, but then declined sharply to 20.28% by 2024, indicating a significant reduction in highly liquid assets over the latter period.
Marketable securities
Marketable securities showed a declining trend from 5.71% in 2020 to a low of 1.51% in 2022, followed by an increase to 6.86% in 2024, suggesting a strategic shift in short-term investment allocations.
Accounts receivable, net
The accounts receivable as a percentage of total assets fluctuated mildly, increasing from 7.53% in 2020 to a peak of 8.46% in 2021, then declining to around 7% in subsequent years, indicating relatively stable credit sales or collection periods.
Inventories
The inventory ratio showed a gradual increase over the analyzed period, rising from 2.39% in 2020 to 5.35% in 2024, more than doubling and implying increased stock holdings or production scaling.
Tax-related prepaid and receivables
This category experienced fluctuations but generally hovered between 1.58% and 2.67%, with a slight downward trend toward 2024, possibly reflecting tax planning or changes in prepaid tax assets.
Prepaid expenses
Prepaid expenses were relatively minor, with values around 0.62% early on, gradually decreasing to 0.45% by 2024, indicating a diminishing portion of expenses paid in advance.
Fair value of cash flow hedges
Fair value of cash flow hedges was negligible early on but dipped nearly to zero in 2023 before rising to 0.58% in 2024, showing some volatility in hedging activities over time.
Other and prepaid expenses and other current assets
The combined percentage for these categories declined slightly overall, with 'Other' dropping gradually from 0.68% in 2020 to 0.34% in 2024, and prepaid expenses and other current assets decreasing from 4.06% to 2.95%, indicating modest reductions in less significant current asset items.
Current assets
Current assets as a proportion of total assets decreased from a high of 72.92% in 2022 to 42.59% in 2024, reflecting a substantial shift away from short-term assets towards long-term holdings.
Property and equipment, net
Property and equipment declined from 8.16% in 2020 to around 5.45% in 2024, showing a reduction in tangible fixed assets as a percentage of total assets.
Goodwill
Goodwill steadily decreased from 8.53% in 2020 to 4.83% in 2024, indicating possibly divestitures, impairment, or amortization of intangible goodwill.
Other intangible assets, net
These assets remained relatively stable, fluctuating slightly around 3-4%, indicating consistent levels of intangible assets excluding goodwill.
Deferred tax assets
Deferred tax assets showed gradual growth from 7.51% of total assets in 2020 to 10.35% in 2024, suggesting increased recognition of future tax benefits.
Operating lease assets
Operating lease assets declined from 2.77% in 2020 to 1.29% in 2023, then surged to 6.02% in 2024, indicating a recent expansion in leased assets or accounting changes related to leases.
Long-term marketable securities
Long-term marketable securities were initially absent, appearing at 0.62% in 2022, then increasing substantially to 22.67% by 2024, highlighting a strategic shift toward long-term investments.
Other assets
Other non-current assets increased steadily from 0.42% in 2020 to 4.43% in 2024, reflecting a growing portion of miscellaneous long-term assets.
Non-current assets
Non-current assets as a percentage of total assets declined slightly from 30.79% in 2020 to 27.08% in 2022, before rising sharply to 57.41% in 2024, indicating a major reallocation of assets from current to non-current categories, driven notably by growth in long-term securities and operating lease assets.
Total assets
Total assets represent 100% of the balance sheet by definition and thus remain constant across all periods.