Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Common Stock Valuation Ratios
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Operating Profit Margin since 2005
- Return on Assets (ROA) since 2005
- Debt to Equity since 2005
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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).
The composition of assets has undergone significant shifts over the analyzed period, spanning from March 31, 2021, to December 31, 2025. A notable trend is the substantial decrease in the proportion of cash and cash equivalents relative to total assets, declining from 52.04% in March 2021 to 19.83% by December 2025. This decrease is accompanied by a corresponding increase in long-term marketable securities, which grew from being non-existent to representing 22.28% of total assets by the end of the period.
Current assets, initially constituting 70.49% of total assets, experienced a decline to 43.68% by September 2025, before a slight increase to 43.68% in December 2025. This reduction in current assets is primarily driven by the decrease in cash and cash equivalents, but also influenced by fluctuations in accounts receivable and prepaid expenses. Inventory as a percentage of total assets has shown a consistent upward trend, increasing from 2.47% in March 2021 to 6.58% in December 2025, indicating a potential build-up in stock.
- Cash and Cash Equivalents
- A consistent downward trend is observed in the proportion of cash and cash equivalents. This suggests a strategic shift in asset allocation, potentially towards investments with higher returns or funding of long-term projects. The most significant decrease occurred between March 2024 and December 2025.
- Marketable Securities
- The proportion of marketable securities initially remained relatively stable, then experienced a significant increase starting in December 2022. The emergence and subsequent growth of long-term marketable securities are particularly noteworthy, representing a substantial portion of total assets by the end of the period. This suggests a deliberate strategy to deploy capital into longer-term investment vehicles.
- Accounts Receivable
- Accounts receivable as a percentage of total assets remained relatively stable, fluctuating between approximately 6.88% and 9.07% throughout the period. There is a slight downward trend observed towards the end of the period, but it is not as pronounced as the changes seen in cash and marketable securities.
- Inventory
- A clear upward trend is evident in the proportion of inventories. This could indicate increased production, anticipated future demand, or potential challenges in inventory turnover. The increase is particularly noticeable from March 2023 onwards.
- Long-Term Assets
- The proportion of long-term assets has increased over the period, from 29.51% to 56.32%. This increase is largely attributable to the growth in long-term marketable securities, as well as increases in other long-term assets. This indicates a shift towards a more long-term focused asset base.
- Goodwill and Intangible Assets
- Goodwill and other intangible assets have generally decreased as a percentage of total assets, although the decline is more pronounced for goodwill. Deferred tax assets have shown an increasing trend, peaking at 11.81% in September 2025, before decreasing slightly to 11.30% in December 2025.
Overall, the asset composition demonstrates a strategic shift away from highly liquid assets (cash) towards longer-term investments (marketable securities) and a growing inventory position. The increasing proportion of long-term assets suggests a focus on long-term growth and value creation.