Common-Size Balance Sheet: Assets
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Abbott Laboratories, 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 asset composition of the entity demonstrates notable shifts over the five-year period. Current assets, while consistently representing approximately one-third of total assets, experienced initial growth followed by a decline and stabilization. Long-term assets constitute the majority of the asset base, exhibiting a slight overall increase before stabilizing in the later years.
- Liquidity and Current Assets
- The proportion of current assets to total assets increased from 32.23% in 2021 to a peak of 33.89% in 2022, before decreasing to 29.98% in 2025. Within current assets, cash and cash equivalents decreased from 13.03% to 9.83% over the period, while trade receivables showed an increasing trend, rising from 8.63% to 9.14%. Inventories also increased initially, peaking at 8.97% in both 2022 and 2023, then decreased to 7.48% in 2025. These movements suggest a potential shift in working capital management, with a greater reliance on receivables and a reduction in cash holdings.
- Long-Term Investments and Fixed Assets
- Long-term investments remained relatively stable, fluctuating between 1.03% and 1.09% of total assets. Net property and equipment increased from 11.91% in 2021 to 13.63% in 2025, indicating continued investment in fixed assets. Equity securities experienced a slight decrease over the period, falling from 0.99% to 0.69%.
- Intangible Assets and Goodwill
- A significant trend is observed in intangible assets and goodwill. Intangible assets decreased substantially from 16.94% in 2021 to 6.37% in 2025, while goodwill also decreased, though less dramatically, from 30.89% to 27.72%. This suggests potential asset write-downs or amortization of intangible assets, and a possible restructuring of the entity’s long-term asset portfolio.
- Deferred Income Taxes and Other Assets
- Deferred income taxes and other assets experienced a substantial increase, rising from 6.93% in 2021 to 21.24% in 2025. This significant growth warrants further investigation to understand the underlying factors contributing to this change, such as changes in tax regulations or accounting practices.
Overall, the asset allocation demonstrates a shift away from intangible assets and towards deferred tax assets, alongside a moderate increase in property, plant, and equipment. The fluctuations in current asset components suggest dynamic working capital management practices.