Stock Analysis on Net
Stock Analysis on Net

Bristol-Myers Squibb Co. (NYSE:BMY)

Common-Size Balance Sheet: Assets 
Quarterly Data

Bristol-Myers Squibb Co., common-size consolidated balance sheet: assets (quarterly data)

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Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Cash and cash equivalents 11.34 16.23 13.31 11.77 11.17 8.42 6.65 9.42 12.05 8.23 8.96 9.54 9.42 7.88 10.71 12.00 12.79 12.21 9.95 9.77
Marketable debt securities 0.52 0.80 1.06 0.98 0.55 0.22 0.38 0.34 0.86 0.19 0.38 0.29 0.13 1.32 2.47 2.52 2.73 1.91 1.76 1.73
Receivables 12.68 11.79 12.06 11.69 11.61 11.77 12.07 10.55 11.48 11.29 10.82 10.66 10.21 9.79 9.02 8.26 8.57 8.34 8.14 7.70
Inventories 2.99 2.85 2.89 2.88 2.76 3.56 3.25 3.01 2.80 2.67 2.53 2.76 2.42 2.11 2.13 2.04 1.92 1.95 1.93 1.74
Other current assets 5.12 5.11 5.77 5.99 6.07 6.00 6.06 5.62 6.21 7.90 7.35 5.47 5.99 6.19 5.74 4.40 4.42 3.94 4.55 3.17
Current assets 32.64% 36.77% 35.09% 33.31% 32.16% 29.97% 28.41% 28.95% 33.39% 30.28% 30.03% 28.73% 28.17% 27.29% 30.08% 29.23% 30.43% 28.35% 26.32% 24.11%
Property, plant and equipment 8.38 7.58 7.79 7.80 7.71 7.37 7.23 6.82 6.98 7.10 6.80 6.66 6.46 6.15 5.95 5.87 5.53 5.29 5.23 5.13
Goodwill 24.16 22.44 23.00 23.52 23.45 23.22 22.96 21.95 22.25 23.17 22.64 22.45 21.84 21.50 20.37 19.90 18.76 18.50 18.53 18.25
Other intangible assets 21.22 21.12 22.58 24.33 25.17 28.79 31.09 33.08 28.45 31.72 33.48 35.61 37.04 38.88 37.56 38.92 38.90 40.52 43.38 45.20
Deferred income taxes 5.97 5.12 4.91 4.32 4.57 3.85 3.51 2.75 2.91 1.66 1.68 1.40 1.39 1.35 1.33 1.38 1.32 0.62 0.59 0.71
Marketable debt securities 0.44 0.42 0.37 0.37 0.35 0.35 0.38 0.37 0.38 0.36 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.04 0.13 0.26
Other non-current assets 7.19 6.54 6.27 6.35 6.59 6.45 6.41 6.08 5.64 5.71 5.37 5.16 5.10 4.83 4.71 4.70 5.06 6.68 5.83 6.35
Non-current assets 67.36% 63.23% 64.91% 66.69% 67.84% 70.03% 71.59% 71.05% 66.61% 69.72% 69.97% 71.27% 71.83% 72.71% 69.92% 70.77% 69.57% 71.65% 73.68% 75.89%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 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 composition of assets for the analyzed entity exhibits several notable shifts over the period from March 2021 to December 2025. Current assets initially represent a substantial portion of the total, fluctuating between approximately 24% and 36%, while non-current assets consistently comprise the majority, ranging from roughly 64% to 76%. A discernible trend involves a gradual shift in the allocation of assets towards current assets, particularly in the latter half of the observed timeframe.

Cash and Cash Equivalents
Cash and cash equivalents demonstrate considerable volatility. Beginning at 9.77% of total assets in March 2021, the proportion increases to a peak of 16.23% by September 2025, with intermediate declines. This suggests active cash management or potentially fluctuating operational needs. The final period shows a decrease to 11.34% in December 2025.
Marketable Debt Securities
Marketable debt securities initially contribute a small percentage to total assets, around 1.7%. This proportion experiences a peak in December 2021 at 2.73%, followed by a significant decline to a low of 0.13% in December 2022. The proportion then shows some recovery, reaching 1.06% in June 2025, before decreasing again to 0.52% in December 2025. This indicates potential shifts in investment strategies or liquidity management.
Receivables
Receivables consistently represent a significant portion of current assets, exhibiting a general upward trend from 7.70% in March 2021 to 12.68% in December 2025. This increase suggests a potential rise in credit sales or a lengthening of the collection period. The growth is relatively steady, with minor fluctuations.
Inventories
Inventories show a consistent, albeit moderate, increase as a percentage of total assets, rising from 1.74% in March 2021 to 2.99% in December 2025. This could indicate a build-up of stock, potentially due to anticipated demand or production efficiencies. The increase is gradual and relatively stable.
Other Current Assets
Other current assets demonstrate substantial fluctuation, starting at 3.17% and peaking at 7.90% in September 2023. The proportion then declines to 5.12% in December 2025. This variability suggests the presence of short-term, less predictable assets impacting the current asset composition.
Goodwill
Goodwill consistently represents a substantial portion of non-current assets, initially at 18.25% and increasing to a peak of 24.16% in December 2025. This indicates significant value derived from acquisitions. The upward trend suggests continued acquisitions or a lack of impairment charges.
Other Intangible Assets
Other intangible assets constitute the largest single component of total assets, initially at 45.20%. A clear downward trend is observed, decreasing to 21.22% by December 2025. This decline could be attributed to amortization, impairment, or a shift in asset allocation strategies. The decrease is substantial and consistent.
Deferred Income Taxes
Deferred income taxes show a notable increase over the period, rising from 0.71% in March 2021 to 5.97% in December 2025. This suggests a growing difference between accounting and tax treatments of certain items, potentially impacting future tax liabilities.
Property, Plant, and Equipment
Property, plant, and equipment exhibit a gradual increase, moving from 5.13% to 8.38% of total assets. This suggests ongoing investment in fixed assets, though the rate of increase is relatively slow.

Overall, the asset composition demonstrates a dynamic shift. The increasing proportion of current assets, particularly receivables and inventories, coupled with the decreasing proportion of other intangible assets and the fluctuating levels of cash and marketable securities, suggests a changing operational and financial profile. The consistent growth in goodwill indicates continued reliance on acquisitions, while the rise in deferred income taxes warrants further investigation.

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