Common-Size Balance Sheet: Assets
Quarterly Data
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- Cash Flow Statement
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- Selected Financial Data since 2005
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
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Vertex Pharmaceuticals Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 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 was a generally high proportion of cash and cash equivalents relative to total assets from 2020 through early 2023, peaking near 57.87% at the end of 2022. However, starting in 2023, this percentage steadily declined, reaching below 20% by early 2025, indicating a notable decrease in liquid assets over time.
- Marketable Securities
- The share of marketable securities fluctuated moderately throughout the periods, mostly staying between approximately 3% and 7%. Notably, there was a decline around 2022 Q4 but a subsequent rebound starting in 2023 and stabilizing near 5-6% by 2025, suggesting a moderate reallocation into marketable securities after a dip.
- Accounts Receivable, Net
- This category showed relative stability with minor fluctuations, typically around 7% to 9%. The values remained fairly steady, indicating consistent credit sales or collection periods without significant changes in receivables management.
- Inventories
- Inventories gradually increased as a percentage of total assets, moving from around 2.1% in early 2020 to over 6.5% by late 2025. This represents a steady buildup of inventory holdings, which could impact working capital and suggests a potential increase in production or product stockpiling over the timeframe.
- Prepaid Expenses and Other Current Assets
- The portion allocated to prepaid expenses and other current assets did not exhibit a strong trend but fluctuated between roughly 2% and 4%. There were slight increases in mid-2021 and again in early 2023, but generally this component was stable relative to total assets.
- Current Assets
- Current assets as a whole showed a clear declining trend starting from a high of about 71-73% in 2021-2022 towards approximately 42-44% by 2025. This decline corresponds with the reduction in cash and cash equivalents, indicating a shift in asset composition away from more liquid current assets.
- Property and Equipment, Net
- This asset class declined modestly over time, moving from around 8.3% at the beginning of 2020 to near 5.7% by late 2025, suggesting limited recent capital expenditure or potential asset disposals impacting the net book value of fixed assets.
- Goodwill
- Goodwill as a proportion of total assets steadily shrank from over 11% in early 2020 to under 5% by late 2025, reflecting possible impairments, amortization, or divestitures relating to acquisitions from previous periods.
- Other Intangible Assets, Net
- This category showed some fluctuations and a decline over time, decreasing gradually from about 4.5% to below 2% by late 2025, signaling amortization or write-offs of intangible assets, or adjustments to valuation assumptions.
- Deferred Tax Assets
- Deferred tax assets decreased from nearly 13% early in the period to around 6-8% during 2021-2023, but exhibited recovery and growth in 2024 and 2025, reaching close to 12% by mid-2025. This pattern may reflect changes in tax position, profitability forecasts, or valuation allowances.
- Operating Lease Assets
- Operating lease assets appeared starting in late 2020 and initially declined slightly but then increased significantly from about 1.3% in early 2024 to a peak near 6.4% by mid-2025, suggesting a growing commitment to leasing arrangements.
- Long-term Marketable Securities
- Beginning to appear in late 2022, this asset category showed rapid growth from less than 1% to over 23% by mid-2025, representing a strategic accumulation of long-term securities, likely as part of investment or cash management policies.
- Other Assets
- Other assets fluctuated mildly between 0.4% and 4.5%, with a slight upward trend in later years, indicating some diversification or increases in miscellaneous asset categories over time.
- Long-term Assets
- Long-term assets as a whole decreased initially from nearly 39% in 2020 to around 27% by late 2021 but then increased sharply, reaching over 57% by 2025. This shift reflects the rises in long-term marketable securities and operating lease assets, alongside declining current assets.
- Total Asset Composition
- The overall asset structure shifted markedly over the period examined. There was a transition from a predominantly current asset base (over 70% during 2021-2022) towards an increased emphasis on long-term assets (exceeding 55% by 2025). This reflects strategic adjustments in asset allocation, moving liquidity into longer-term investments and leasing arrangements, while current assets and liquid reserves contracted significantly.