Common-Size Balance Sheet: Assets
Quarterly Data
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- Income Statement
- Statement of Comprehensive Income
- Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Net Profit Margin since 2005
- Price to Operating Profit (P/OP) since 2005
- Price to Sales (P/S) since 2005
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Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 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).
The common-size balance sheet reveals a strategic shift in asset allocation over the analyzed period, characterized by relative stability in asset distribution until late 2024, followed by significant volatility in the first quarter of 2026. Total current assets generally maintained a presence of approximately 30% to 34% of total assets for the majority of the timeline before experiencing a sharp contraction to 23.10% by March 31, 2026.
- Liquidity and Short-Term Assets
- Cash and cash equivalents exhibited a peak of 13.28% in December 2022, followed by a gradual decline that accelerated in 2025 and 2026, ending at 6.16%. Short-term investments remained a negligible portion of the asset base, consistently fluctuating below 1% throughout the entire period.
- Working Capital Components
- Inventories showed a steady increase from 7.40% in March 2021 to a peak of 9.42% in March 2024, suggesting a period of inventory buildup or supply chain adjustments, before retreating to 6.33% by March 2026. Trade receivables remained relatively stable, oscillating between 8% and 9.7% for most of the period before dipping to 7.43% in the final quarter.
- Fixed Assets and Capital Expenditure
- Net property and equipment grew modestly from 12.13% in early 2021 to 14.28% by September 2024, indicating a period of capital investment. However, this figure decreased to 11.21% by March 2026. Accumulated depreciation and amortization as a percentage of total assets generally widened from -13.55% to -16.49% before narrowing to -12.10% in the final period.
- Intangible Assets and Goodwill
- A consistent downward trend in net intangible assets was observed from 19.48% in March 2021 to a low of 6.37% in December 2025, likely reflecting systematic amortization. This was followed by a sharp reversal to 16.19% in March 2026. Goodwill remained the most significant asset component, staying largely between 27% and 32%, with a notable increase to 31.89% in the final quarter.
- Other Long-Term Assets
- Deferred income taxes and other assets remained below 11% until December 2024, at which point they jumped to 20.22%. This elevated level persisted throughout 2025 before moderating to 16.62% in March 2026, contributing to an overall increase in long-term assets to 76.90% of the total asset mix in the final period.