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Walgreens Boots Alliance Inc. (NASDAQ:WBA)

This company has been moved to the archive! The financial data has not been updated since July 9, 2020.

Common-Size Balance Sheet: Assets
Quarterly Data

Walgreens Boots Alliance Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
May 31, 2020 Feb 29, 2020 Nov 30, 2019 Aug 31, 2019 May 31, 2019 Feb 28, 2019 Nov 30, 2018 Aug 31, 2018 May 31, 2018 Feb 28, 2018 Nov 30, 2017 Aug 31, 2017 May 31, 2017 Feb 28, 2017 Nov 30, 2016 Aug 31, 2016 May 31, 2016 Feb 29, 2016 Nov 30, 2015 Aug 31, 2015 May 31, 2015 Feb 28, 2015 Nov 30, 2014 Aug 31, 2014 May 31, 2014 Feb 28, 2014 Nov 30, 2013
Cash and cash equivalents 0.89 0.88 0.89 1.51 1.22 1.16 1.40 1.15 2.59 2.47 2.75 5.00 16.52 16.31 13.35 13.49 4.89 5.40 3.74 4.36 6.30 4.21 26.46 7.12 5.69 4.79 2.66
Accounts receivable, net 8.08 8.41 8.19 10.69 10.55 11.11 10.21 9.65 10.20 10.28 10.29 9.89 8.55 7.83 8.54 8.61 9.67 10.14 9.93 9.96 9.77 9.83 7.36 8.65 8.10 7.48 7.48
Inventories 11.06 10.72 11.60 13.81 14.40 14.46 15.69 14.04 14.10 14.57 15.03 13.48 11.70 12.73 13.96 12.32 13.26 13.59 14.40 12.62 12.41 13.14 13.41 16.34 17.22 19.45 21.19
Other current assets 1.17 0.99 0.91 1.65 1.56 1.44 1.41 1.35 1.60 1.43 1.48 1.55 1.19 1.08 1.24 1.18 1.46 1.56 1.39 1.64 1.30 1.84 0.66 0.81 0.89 0.73 0.81
Current assets 21.20% 21.01% 21.59% 27.66% 27.73% 28.18% 28.71% 26.20% 28.49% 28.75% 29.54% 29.92% 37.95% 37.94% 37.08% 35.61% 29.28% 30.70% 29.47% 28.58% 29.77% 29.03% 47.89% 32.92% 31.90% 32.46% 32.13%
Property, plant and equipment, net 15.12 14.98 15.00 19.94 20.00 19.63 19.76 20.42 19.87 19.83 20.55 20.67 18.25 18.66 19.06 19.72 21.52 21.92 21.67 21.91 21.57 21.93 24.90 32.96 32.33 32.73 33.86
Operating lease right-of-use assets 25.00 24.17 23.87 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Alliance Boots call option 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.47 2.44 2.35
Goodwill 17.29 18.65 18.50 24.50 24.37 24.17 24.03 24.83 24.36 24.03 23.91 23.68 20.92 20.98 21.14 21.36 23.91 23.79 23.59 23.80 24.58 23.89 4.85 6.34 6.33 6.62 6.83
Intangible assets, net 11.78 12.14 12.17 16.09 16.51 16.94 16.56 17.30 17.26 17.26 15.89 15.39 13.76 13.31 13.53 14.17 17.16 16.75 17.54 17.96 15.90 17.13 0.00 0.00 0.00 0.00 0.00
Equity method investments 8.14 7.69 7.60 10.13 9.73 9.49 9.39 9.70 8.94 9.08 9.05 9.57 8.52 8.50 8.53 8.49 6.18 1.83 1.81 1.81 1.76 1.07 15.09 19.49 18.81 18.35 17.65
Other non-current assets 1.47 1.35 1.27 1.68 1.65 1.58 1.54 1.56 1.07 1.05 1.05 0.77 0.59 0.61 0.65 0.64 1.94 5.00 5.93 5.95 6.43 6.96 7.28 8.27 8.16 7.41 7.19
Non-current assets 78.80% 78.99% 78.41% 72.34% 72.27% 71.82% 71.29% 73.80% 71.51% 71.25% 70.46% 70.08% 62.05% 62.06% 62.92% 64.39% 70.72% 69.30% 70.53% 71.42% 70.23% 70.97% 52.11% 67.08% 68.10% 67.54% 67.87%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30), 10-K (reporting date: 2018-08-31), 10-Q (reporting date: 2018-05-31), 10-Q (reporting date: 2018-02-28), 10-Q (reporting date: 2017-11-30), 10-K (reporting date: 2017-08-31), 10-Q (reporting date: 2017-05-31), 10-Q (reporting date: 2017-02-28), 10-Q (reporting date: 2016-11-30), 10-K (reporting date: 2016-08-31), 10-Q (reporting date: 2016-05-31), 10-Q (reporting date: 2016-02-29), 10-Q (reporting date: 2015-11-30), 10-K (reporting date: 2015-08-31), 10-Q (reporting date: 2015-05-31), 10-Q (reporting date: 2015-02-28), 10-Q (reporting date: 2014-11-30), 10-K (reporting date: 2014-08-31), 10-Q (reporting date: 2014-05-31), 10-Q (reporting date: 2014-02-28), 10-Q (reporting date: 2013-11-30).

The asset composition exhibits a long-term strategic shift from current assets toward non-current assets. Total current assets, which represented approximately 32.13% of the balance sheet in November 2013, declined to 21.20% by May 2020. Conversely, non-current assets increased from 67.87% to 78.80% over the same period.

Liquidity and Working Capital Trends
Cash and cash equivalents demonstrated extreme volatility. A significant spike to 26.46% occurred in November 2014, and levels remained relatively elevated between 13% and 16% from August 2016 through May 2017. However, a sharp downward trend followed, with cash holdings falling below 1% of total assets by February 2020. Accounts receivable remained the most stable component of current assets, generally fluctuating within a range of 7% to 11%. Inventories showed a steady contraction from a high of 21.19% in late 2013 to approximately 11.06% by May 2020.
Fixed Assets and Lease Recognition
Net property, plant, and equipment followed a consistent downward trajectory, decreasing from 33.86% of total assets in November 2013 to 15.12% by May 2020. This decline is offset by the emergence of operating lease right-of-use assets starting in November 2019, which immediately accounted for 23.87% of total assets and remained around 25% through May 2020, indicating a fundamental change in asset accounting and lease capitalization.
Intangible Assets and Goodwill
A substantial structural change occurred in February 2015, marked by a surge in goodwill from 4.85% to 23.89% and the introduction of recorded intangible assets at 17.13%. These two categories remained dominant drivers of the non-current asset base for several years. By early 2020, however, both saw a reduction, with goodwill falling to 17.29% and intangible assets decreasing to 11.78%.
Investment and Other Assets
Equity method investments experienced a sharp decline from 17.65% in November 2013 to 1.07% in February 2015. Following this drop, these investments gradually recovered and stabilized, fluctuating between 7.6% and 10.13% through May 2020. Other non-current assets saw a steady decline from 7.19% in 2013 to 1.47% in 2020, reflecting a concentration of value into more specific asset classes.

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