Common-Size Balance Sheet: Assets
Quarterly Data
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Boston Scientific Corp. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Short-term (Operating) Activity Ratios
- Price to FCFE (P/FCFE)
- Operating Profit Margin since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Price to Book Value (P/BV) since 2005
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Boston Scientific Corp., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31), 10-K (reporting date: 2018-12-31), 10-Q (reporting date: 2018-09-30), 10-Q (reporting date: 2018-06-30), 10-Q (reporting date: 2018-03-31).
- Cash and Cash Equivalents
- Cash and cash equivalents as a percentage of total assets exhibited volatility over the quarters. From early 2018 through 2019, the ratio remained generally below 1.5%, indicating a relatively low liquidity position. A marked increase occurred in 2020, peaking around 6.5% to 8.6% during mid-2021. Subsequently, a decline was observed through 2022 into early 2023, with the ratio stabilizing around 1.7% by the first quarter of 2023.
- Trade Accounts Receivable, Net
- The proportion of trade accounts receivable relative to total assets showed a gradual downward trend from 2018 through 2020, moving from over 8% to below 5%. From 2021 onward, there was a modest recovery and stabilization within the 5.2% to 6.3% range, suggesting improved collections or credit policies over time.
- Inventories
- Inventory levels, as a percentage of total assets, declined modestly from 5.8% in early 2018 to around 4.4% by the end of 2020. From 2021 onwards, there was a gradual increase reaching 6.2% by the first quarter of 2023. This pattern may reflect adjustments in inventory management or changes in demand and supply chain conditions.
- Prepaid Income Taxes
- Prepaid income taxes maintained a relatively stable proportion of total assets between 0.2% and 0.9%, with a slight upward drift noticeable starting in 2021 and continuing through early 2023. This suggests a consistent but low allocation to prepaid taxes over the period.
- Assets Held for Sale
- Assets held for sale were only recorded in a single quarter at 3.68% of total assets, indicating a one-time event or asset disposition during this period.
- Other Current Assets
- Other current assets demonstrated significant variability. An unusually high proportion was reported around 13% in 2019, which then sharply declined below 4% and remained stable around 2.1% to 2.7% through the remainder of the timeframe. The spike suggests a particular transient item or reclassification which normalized in the following quarters.
- Current Assets
- Current assets as a share of total assets showed fluctuations, initially declining from approximately 21% in early 2018 to around 15% by the end of 2019. A recovery occurred during 2020 coinciding with increased cash holdings, followed by stabilization in the 16% to 19% range through early 2023.
- Property, Plant and Equipment, Net
- The proportion of property, plant, and equipment remained relatively stable, hovering around 6.5% to 7.5%, with only minor variations. This stability signals steady investment and depreciation patterns in fixed assets over the period.
- Goodwill
- Goodwill as a percentage of total assets fluctuated substantially, declining from above 36% in 2018 to the low 30% range during 2019 and early 2020. From 2021 onward, there was a notable increase, surpassing 40% during 2022 and early 2023, reflecting potential acquisitions or revaluations impacting intangible assets.
- Other Intangible Assets, Net
- Other intangible assets experienced a steady decline from nearly 30% of total assets in 2018 to approximately 18% by early 2023. This consistent reduction possibly indicates amortization surpassing the addition of new intangible assets over time.
- Deferred Tax Assets
- Displayed only from late 2019 onward, deferred tax assets held a stable proportion slightly below 13.7% of total assets, gradually decreasing to close to 11.9% by early 2023, suggesting minor amortization or utilization of deferred tax credits.
- Other Long-Term Assets
- Other long-term assets fluctuated moderately between 3.7% to 7.0%, with a peak in early 2019 followed by a decreasing trend to around 4.5% by early 2023, indicating changes in long-term asset composition or valuations.
- Long-Term Assets
- Long-term assets as a total share of assets stayed consistently dominant above 73%, often exceeding 80%, reflecting the asset-intensive nature with a consistent majority allocation to long-term holdings. There was a slight peak in late 2019 and early 2022, with a minor downward adjustment into 2023.
- Total Assets
- The sum of all assets consistently equaled 100% each quarter, as expected, showing the proportional distribution of the company's asset composition across current and long-term categories over the entire analyzed period.