Common-Size Balance Sheet: Assets
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- Income Statement
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Return on Assets (ROA) since 2012
- Current Ratio since 2012
- Total Asset Turnover since 2012
- Price to Book Value (P/BV) since 2012
- Analysis of Revenues
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AbbVie Inc., common-size consolidated balance sheet: assets
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
The composition of assets exhibited notable shifts between 2021 and 2025. Current assets as a percentage of total assets initially increased, peaking in 2023, before declining in subsequent years. Conversely, long-term assets decreased from 2021 to 2023, then increased in 2024, before decreasing again in 2025. A significant portion of the asset base consistently comprised long-term assets, representing over 75% of the total throughout the period.
- Liquidity and Current Assets
- Current assets increased from 19.06% of total assets in 2021 to 24.50% in 2023, driven by increases in accounts receivable, inventories, and prepaid expenses. However, a decline was observed in 2024 (18.93%) and a partial recovery in 2025 (21.69%). Cash and equivalents demonstrated a peak in 2023 (9.51%) but decreased substantially to 3.90% by 2025. Short-term investments remained consistently low, fluctuating around 0.02% of total assets.
- Asset Mix – Long-Term Focus
- The asset base is heavily weighted towards long-term assets. While these decreased from 80.94% in 2021 to 75.50% in 2023, they rebounded to 81.07% in 2024 before settling at 78.31% in 2025. This suggests a strategic emphasis on long-term investments and holdings.
- Intangible Assets and Goodwill
- Intangible assets, net, represented the largest single component of the asset base, although their proportion decreased from 51.83% in 2021 to 39.30% in 2025. Goodwill consistently represented a substantial portion of total assets, increasing from 22.10% in 2021 to 26.60% in 2025. This indicates a significant reliance on acquired intangible value.
- Other Asset Trends
- The proportion of ‘Other assets’ increased steadily throughout the period, rising from 3.33% in 2021 to 8.00% in 2025. This suggests a growing allocation to assets not specifically categorized elsewhere, warranting further investigation into their composition. Property and equipment, net, showed a gradual increase, from 3.49% to 4.20% over the five-year period.
The observed trends suggest a dynamic shift in asset allocation, with a move away from intangible assets and towards a more balanced composition, alongside a fluctuating level of current asset liquidity. The increasing proportion of goodwill and ‘Other assets’ merits continued monitoring.