Common-Size Balance Sheet: Assets
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- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
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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 cash equivalents
- The percentage of cash and cash equivalents relative to total assets demonstrated notable fluctuation over the observed period, starting at 12.23% in early 2020 and reaching a low around mid-2024 near 6.65%. A significant recovery followed, peaking at 16.23% by late 2025, indicating a shift towards increased liquidity.
- Marketable debt securities
- This asset category remained relatively low and volatile, oscillating mostly below 2.5% throughout the periods. There was a marked decrease to near negligible levels in late 2022 and early 2023, followed by a gradual rebound, though values stayed modest relative to total assets.
- Receivables
- Receivables as a share of total assets showed a consistent upward trend, starting at 6.41% and rising steadily to a peak near 12.07% by mid-2024. Although minor fluctuations occurred afterward, the overall pattern indicates growing amounts of outstanding payments due from customers or related entities over time.
- Inventories
- Inventory levels relative to total assets were generally low but trended upward across the quarters, increasing from about 2.19% to a peak slightly above 3.5% before somewhat stabilizing. This suggests a gradual accumulation or stockpiling of goods or raw materials over these years.
- Other current assets
- The proportion of other current assets rose substantially during the early part of the period, reaching up to approximately 7.90%, before settling back to a range near 5-6%. The volatility here suggests variability in short-term asset components beyond cash, receivables, and inventory.
- Current assets
- Overall current assets as a percentage of total assets experienced an upward trend, increasing from around 24.64% initially to levels exceeding 36% in late 2025. This indicates a strengthening in liquid or near-liquid assets within the asset structure over time.
- Property, plant and equipment (PP&E)
- PP&E showed a steady and moderate increase relative to total assets, starting below 5% and reaching just under 8%. This reflects ongoing investments in long-term tangible assets, possibly aligned with operational expansion or modernization programs.
- Goodwill
- Goodwill consistently made up a significant and growing portion of total assets, rising from approximately 17.37% to above 23%, though a slight decline was observed towards the end of the timeline. The increase points to acquisitions or intangible value gains, with a marginal reduction suggesting possible impairments or revaluations later on.
- Other intangible assets
- This category showed a clear downward trajectory, decreasing markedly from over 47% in early 2020 to around 21% by 2025. The decline might imply amortization, disposals, or reassessment of intangible assets' values throughout the observed span.
- Deferred income taxes
- The share of deferred income taxes within total assets gradually increased from below 0.5% to more than 5%. This steady growth could be indicative of increasing timing differences between accounting profits and taxable income or strategic tax positioning.
- Other non-current assets
- This component remained relatively stable, fluctuating mildly around the 4.5% to 6.5% range. The consistent level points to a stable base of non-current assets outside of the primary categories like PP&E and intangibles.
- Non-current assets
- Non-current assets as a whole exhibited some volatility but generally decreased from around 75% to roughly 63% of total assets over the period. This reflects a relative shift in the asset base favoring current assets, possibly influenced by changes in strategic asset allocation or business cycles.
- Total assets
- Total assets were normalized to 100%, providing the base for proportional analysis. The relative shifts among constituent asset classes reveal a structural transition towards increased liquidity and a reduction in intangible asset weight over time.