Common-Size Balance Sheet: Assets
Quarterly Data
AbbVie 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 equivalents
- The proportion of cash and equivalents relative to total assets demonstrated significant volatility. Initially high at 45.11% in early 2020, this figure sharply declined to single-digit levels mid-2020 and remained mostly between 4% and 12% afterwards. A notable temporary increase occurred during the latter half of 2023 and early 2024, peaking at 12.14%, before declining again to around 4% by mid-2025.
- Short-term investments
- Short-term investments were minimal throughout the period, mostly under 0.1% of total assets, with occasional slight increases reaching just over 1% in early 2022. These holdings generally remained a very small fraction of total assets, indicating limited allocation to short-term investments.
- Accounts receivable, net
- This category showed a steady upward trend over the periods, rising from approximately 5.6%-7% in early 2020 to around 9.2%-9.5% by mid-2025. This indicates a gradual increase in claims against customers relative to total assets, suggesting either growth in sales on credit or changes in collection policies.
- Inventories
- Inventories as a percentage of total assets experienced a gradual increase over the observed timeframe, climbing from just over 2% to nearly 3.7% by late 2025. This steady rise may reflect growing stock levels potentially linked to business expansion or shifts in inventory management.
- Prepaid expenses and other current assets
- This category increased moderately from around 1.9%-2.6% in early 2020 to roughly 3.8%-4% in 2025, showing a trend of growing prepaid and other current assets as a portion of total assets, which may indicate a higher volume of advance payments or accruals.
- Current assets
- Current assets overall displayed substantial fluctuation, beginning at a notably low 14.2% in mid-2020, then climbing to a peak close to 26% in early 2024, before slightly declining thereafter. The trend points to a rising emphasis on liquidity or resource allocation to short-term assets over time.
- Investments
- Investments remained a small but gradually increasing part of total assets, moving from less than 0.1% to around 0.23% over the period. This slow increase suggests cautious growth in strategic or financial investments.
- Property and equipment, net
- The proportion of property and equipment relative to total assets remained stable between about 3.2% and 4.1%, with minor fluctuations. This consistency indicates a relatively steady investment in fixed assets without significant expansion or disposals.
- Intangible assets, net
- Intangible assets constituted a significant portion of total assets, starting at approximately 51% in early 2020, peaking over 55% by the end of that year, then trending downward to about 40%-42% by mid-2025. This decline could indicate amortization, impairment, or changes in the composition of assets.
- Goodwill
- Goodwill as a percentage of total assets showed moderate volatility, generally ranging from around 21.5% to 26.6% throughout the period. An observable upward trend occurred from 22% in 2020 to peaks above 25% from 2023 onward, which may be attributable to acquisitions or revaluations.
- Other assets
- Other assets steadily increased from about 2.7% early in the period to a range between 6.7% and 7.2% by mid-2025, indicating a growing share in this category. This could reflect the accumulation of miscellaneous or deferred assets.
- Long-term assets
- Long-term assets consistently made up the majority of total assets, generally exceeding 75% after 2020. While the exact proportion fluctuated, it showed a gradual decrease from over 85% in mid-2020 to just below 79% by 2025, reflecting shifts in asset structure favoring current assets.
- Summary of asset structure trends
- The overall asset composition shifted gradually from a concentration in intangible and long-term assets towards a relatively higher share of current assets. Notably, intangible assets and goodwill remain dominant yet declined moderately as a percentage of total assets. Current assets, led by accounts receivable and inventories, increased their share, reflecting possible operational growth and evolving asset management strategies. Cash and equivalents exhibited high variability, with no sustained upward or downward trend. Fixed assets and investments remained relatively stable in proportion.