Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
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Vertex Pharmaceuticals Inc., consolidated balance sheet: assets (quarterly data)
US$ in thousands
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
- The cash and cash equivalents balance showed a general upward trend from March 2020 to December 2023, peaking at over $11 billion in the third quarter of 2023. However, from early 2024 onwards, there is a noticeable decline, dropping below $5 billion by mid-2024 and stabilizing slightly around $4.9 billion into late 2025. This indicates substantial liquidity reduction in the recent quarters.
- Marketable Securities
- Marketable securities fluctuated moderately during the period. Initial values were in the range of $600 million to $800 million until 2021, followed by a significant drop in late 2022. Subsequently, the amount rebounded strongly beginning in early 2023, reaching over $1.5 billion by early 2025, indicating a shifting investment strategy favoring liquid securities.
- Accounts Receivable, Net
- Accounts receivable exhibited steady growth from $845 million in early 2020 to nearly $2 billion by the third quarter of 2025. The consistent increase suggests growing sales or service revenue, though some short-term fluctuations are observed.
- Inventories
- Inventories showed a persistent rising trend, growing from approximately $187 million in early 2020 to over $1.6 billion by late 2025. The inventory buildup indicates either increased production capacity or stockpiling in anticipation of demand, which may tie up working capital.
- Prepaid Expenses and Other Current Assets
- This asset category experienced variability over the period without a clear trend, fluctuating between approximately $220 million and $700 million. Peaks occur sporadically, suggesting changes in prepayments or other current asset components that may relate to operational cycles or strategic expenditures.
- Current Assets
- Current assets rose significantly from about $5.4 billion in early 2020 to a peak exceeding $14.6 billion by late 2023, reflecting accumulation in cash, receivables, inventories, and other current assets. However, in 2024, current assets declined sharply to around $9 billion, before partially recovering towards $10.5 billion by late 2025. This decline points to either asset utilization or liquidity draws.
- Property and Equipment, Net
- Property and equipment net values increased steadily but moderately, from approximately $736 million in early 2020 to $1.4 billion by late 2025. The gradual rise indicates ongoing investment in fixed assets, supporting capacity expansion or maintenance of operational infrastructure.
- Goodwill
- Goodwill remained relatively constant at around $1 billion throughout the period, with a minor increase toward late 2022. This suggests stable acquisition activity with no major impairments or disposals affecting goodwill value.
- Other Intangible Assets, Net
- The value of other intangible assets stayed flat near $400 million initially, but experienced considerable increases starting in late 2022, peaking around $840 million in 2023. A subsequent decline is seen into mid-2025, showing possible amortization or write-downs of intangible assets.
- Deferred Tax Assets
- Deferred tax assets presented a consistent upward trend over the period, expanding from roughly $1.15 billion in early 2020 to nearly $3 billion by late 2025. This reflects increased recognition of tax benefits, potentially from net operating losses or timing differences, which may enhance future tax efficiency.
- Operating Lease Assets
- Operating lease assets data appeared from late 2020, initially around $325 million, then experienced significant growth after 2023, exceeding $1.5 billion by early 2025. This sharp increase implies adoption of leasing arrangements or capitalization of leases in accordance with changes in accounting standards or operational expansion.
- Long-term Marketable Securities
- Long-term marketable securities showed a marked increase from below $1 billion in late 2022 to over $5.7 billion by late 2025, demonstrating a strategic build-up of longer-duration investment holdings over the last years.
- Other Assets
- Other assets fluctuated notably, increasing from approximately $160 million in 2020 to nearly $1.1 billion by late 2025. This variability signals diverse noncurrent asset components expanding over time, potentially related to deferred charges, deposits, or miscellaneous asset categories.
- Long-term Assets
- Long-term assets overall increased significantly, starting at roughly $3.4 billion in early 2020 and rising to over $14 billion by late 2025. The rise reflects growth across property, intangibles, deferred taxes, lease assets, and long-term investments, indicating sustained capital investment and asset accumulation.
- Total Assets
- Total assets exhibited robust growth, reaching over $24.8 billion by the end of the period compared to $8.9 billion in early 2020. Despite a temporary dip in mid-2024, the company's asset base expanded nearly threefold, driven principally by increases in both current and long-term assets.