Common-Size Balance Sheet: Assets
Quarterly Data
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Vertex Pharmaceuticals Inc. pages available for free this week:
- Common-Size Income Statement
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Operating Profit Margin since 2005
- Debt to Equity since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Cash and cash equivalents
- There is an overall declining trend from March 2020 to March 2025. The proportion peaked around December 2022 at approximately 57.87% before gradually decreasing to about 20.43% in March 2025, indicating reduced liquidity relative to total assets over time.
- Marketable securities
- The share fluctuates throughout the periods, starting near 6-7%, dipping to as low as 1.51% in December 2022, then recovering to around 6.67% by March 2025. This indicates variable allocation to marketable securities with recovery towards the end.
- Accounts receivable, net
- There is a slight downward trend from 9.5% in March 2020 to a low near 6.88% in December 2021, followed by moderate fluctuations around 7-8%, finishing near 7.89% in March 2025. This suggests relative stability in receivables as a portion of assets after initial decline.
- Inventories
- Inventories steadily increase from 2.1% in March 2020 to nearly 5.94% in March 2025, more than doubling in proportion. This growth suggests a rising inventory level relative to total assets over the period.
- Prepaid expenses and other current assets
- This category remains relatively stable, mostly fluctuating between 2.1% and 4.1%, with some upticks around mid-2021 and a minor decrease thereafter, ending near 2.81% in March 2025.
- Current assets
- There is a strong downward trend in current assets as a percentage of total assets, starting at over 61% in March 2020, peaking around 73.82% in mid-2022, then decreasing notably to about 43.74% by March 2025. This indicates a gradual shift from current to long-term assets.
- Property and equipment, net
- This asset component shows a gradual decline over the timeframe, beginning at 8.28% in March 2020 and reducing to around 5.66% by March 2025, reflecting either asset disposals, depreciation, or slowed capital expenditures relative to total assets.
- Goodwill
- Goodwill steadily decreases from 11.27% in March 2020 down to 4.76% by March 2025, implying divestitures or impairment write-downs impacting intangible asset value.
- Other intangible assets, net
- Other intangibles decline gradually from 4.5% in March 2020 to 1.93% by March 2025, with some variation, signaling potential amortization or asset reductions.
- Deferred tax assets
- This category shows an initial decline from 12.91% to approximately 6.73% by March 2021, but then gradually increases, peaking above 11% by March 2025. This trend may indicate changes in deferred tax asset recognition or tax planning effects.
- Operating lease assets
- Introduced in 2020, operating lease assets start near 2.77% and decrease until early 2023, falling below 1.3%, but then increase notably to over 6% by late 2024, maintaining near that level through March 2025. This reflects lease accounting changes or significant new lease arrangements.
- Long-term marketable securities
- This category appears only from 2022 onward, growing significantly from 0.62% to about 22.54% by March 2025, indicating a strategic increase in long-term investment holdings.
- Other assets
- Other assets maintain a relatively low but slightly increasing presence, rising from under 2% initially to around 4.4% by March 2025. This gradual growth suggests additional asset diversification or accumulation in miscellaneous asset categories.
- Long-term assets
- Long-term assets as a percentage of total assets consistently increase from 38.76% in March 2020 to plateau near 56% by March 2025, illustrating a clear asset reallocation trend favoring long-term holdings over current assets.
- Total assets
- The total assets remain constant at 100% by definition, serving as the basis for the proportional analysis of other categories.
- Summary
- The data reveals a clear strategic shift from current to long-term assets over the five-year horizon, accompanied by a marked decrease in cash and equivalents and goodwill. Investments in long-term marketable securities have significantly increased, suggesting an emphasis on longer-term investments. Inventory growth and somewhat stable receivables indicate changes in operational asset composition. Meanwhile, declines in property, equipment, and intangible assets reveal possible asset disposals or amortizations. Deferred tax assets initially decreased but recovered, potentially reflecting evolving tax circumstances. The fluctuations in operating lease assets imply new lease accounting standards or increased leasing activities recently. Overall, the company appears to be moving towards a more asset-intensive, long-term investment posture, reducing liquidity and goodwill, while increasing longer-term financial assets.