Common-Size Balance Sheet: Assets
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Bristol-Myers Squibb Co. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Selected Financial Data since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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Bristol-Myers Squibb Co., common-size consolidated balance sheet: assets
Based on: 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), 10-K (reporting date: 2020-12-31).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets experienced a slight fluctuation over the analyzed period. Beginning at 12.28% in 2020, it increased to 12.79% in 2021, then declined notably to 9.42% in 2022. It showed some recovery in 2023 to 12.05%, followed by a modest decrease to 11.17% in 2024, indicating a somewhat variable liquidity position.
- Marketable debt securities
- This asset category exhibits volatility, peaking at 2.73% in 2021 from 1.08% in 2020 but dropping sharply to 0.13% in 2022. It then partially recovered to 0.86% in 2023 before declining again to 0.55% in 2024. This suggests sporadic adjustment in short-term investment allocations.
- Net trade receivables and Receivables
- Receivables demonstrate a consistent upward trend. Net trade receivables rose steadily from 6.09% in 2020 to 9.73% in 2024, while total receivables increased from 7.17% to 11.61% across the same timeframe. This indicates a growing amount of credit sales or extended payment terms, contributing to a higher asset base in receivables.
- Alliance, royalties, VAT and other
- This component grew from 1.08% in 2020 to a peak of 2.14% in 2023, slightly decreasing to 1.87% in 2024. It suggests a rising contribution from these income streams or related assets over the years, although slightly tapering off in the latest year.
- Inventories
- Inventories increased from 1.75% in 2020 to 2.80% in 2023, with a marginal decline to 2.76% in 2024. Such growth may reflect inventory buildup in anticipation of higher sales or production demands, with stabilization in the most recent year.
- Income taxes
- The proportion of assets classified under income taxes rose considerably from 1.52% in 2020 to a peak of 4.13% in 2023, followed by a decline to 3.55% in 2024. This sharp increase may be indicative of deferred tax assets or prepayments growing over time before easing slightly.
- Research and development
- Research and development assets increased from 0.42% in 2020 to 0.81% in 2024, with gradual rises each year. This upward trend aligns with continued investment in innovation and product development. The non-current R&D assets fluctuated somewhat but remained comparatively lower.
- Contract assets
- The presence of contract assets rose from 0.21% in 2020 to a peak of 0.52% in 2022, then declined to 0.42% by 2024, suggesting varying stages of progress billings or unbilled receivables related to contractual arrangements.
- Equity investments
- Equity investments as a percentage of total assets decreased from 3.44% in 2020 to 1.87% in 2024, indicating a gradual divestment or reallocation away from these long-term holdings.
- Restricted cash
- Restricted cash relative to total assets was minimal throughout, peaking at 0.15% in 2022 and then declining to negligible levels by 2024, reflecting limited constraints on cash usage in recent periods.
- Other current assets
- Other current assets showed a consistent increase from 3.20% to 6.07% over the period, which, together with increases in receivables and inventories, contributed to the overall growth of current assets to a peak of 33.39% in 2023 and slightly declining to 32.16% in 2024.
- Property, plant and equipment
- Property, plant, and equipment steadily increased from 4.97% in 2020 to 7.71% in 2024, indicating expansion or reinvestment in fixed assets supporting operations or production capacity.
- Goodwill
- Goodwill showed a continuous upward trend, rising from 17.34% in 2020 to 23.45% in 2024, reflecting acquisitions or business combinations that may have occurred, thereby impacting the intangible asset base significantly.
- Other intangible assets
- There was a marked decrease in other intangible assets from 44.94% in 2020 to 25.17% in 2024, suggesting amortization, impairment, or reclassification of these assets. The shift reflects a significant contraction in this asset category, altering the composition of intangible assets.
- Deferred income taxes
- Deferred income taxes increased markedly from 0.98% in 2020 to 4.57% in 2024, indicating a growing recognition of future tax benefits or timing differences in tax accounting and asset valuation.
- Operating lease right-of-use assets
- The right-of-use assets rose from 0.73% in 2020 to 1.46% in 2023 and slightly declined to 1.32% in 2024, reflecting leasing arrangements affecting the asset base, likely aligned with implementation of lease accounting standards.
- Pension and postretirement
- The pension and postretirement asset proportion remained low and stable, fluctuating minimally between 0.18% and 0.30%, suggesting limited variation in these defined benefit plan assets or obligations.
- Other non-current assets
- This category remained relatively steady, with a slight increase from 5.92% in 2020 to 6.59% in 2024, indicating consistent valuation of miscellaneous or long-term assets outside the main categories.
- Overall asset composition
- Total assets were normalized at 100% by definition each year. The breakdown between current and non-current assets shows a slight decrease in non-current assets from 74.52% in 2020 to 67.84% in 2024, paralleled by an increase in current assets up to 33.39% in 2023, before slightly declining to 32.16% in 2024. This suggests a moderate shift in asset structure favoring more liquid or short-term assets.