Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Bristol-Myers Squibb Co. pages available for free this week:
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Liquidity Ratios
- Analysis of Solvency Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Selected Financial Data since 2005
- Current Ratio since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Bristol-Myers Squibb Co., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Overall, the company’s total assets experienced a period of relative stability between 2021 and 2023, followed by a notable increase in 2024 and 2025. A closer examination of the asset composition reveals varying trends within current and non-current asset categories.
- Current Assets
- Current assets demonstrated an initial increase from $27.111 billion in March 2021 to a peak of $33.262 billion in December 2021. Subsequently, a decline was observed, reaching a low of $26.796 billion in September 2022. A partial recovery occurred through December 2023, reaching $31.770 billion, before decreasing again to $29.390 billion by December 2025. This pattern suggests potential fluctuations in short-term liquidity and operational efficiency.
- Cash and Cash Equivalents
- Cash and cash equivalents exhibited significant volatility throughout the period. Starting at $10.982 billion in March 2021, the balance rose to $13.979 billion by December 2021. A substantial decrease followed, dropping to $7.734 billion in September 2022. The balance then increased to $11.464 billion in December 2023, followed by a decline to $10.209 billion in December 2025. These fluctuations may be linked to investment activities, debt financing, or operational cash flow.
- Marketable Debt Securities
- Marketable debt securities showed a general decreasing trend. Beginning at $1.948 billion in March 2021, the balance peaked at $2.987 billion in December 2021 before declining sharply to $130 million by December 2022. A modest recovery occurred in 2023 and 2024, but the balance decreased again to $464 million by December 2025. This suggests a shift in investment strategy or a utilization of these securities for other purposes.
- Receivables
- Receivables demonstrated a consistent upward trend from $8.660 billion in March 2021 to $11.414 billion in December 2023. While remaining relatively stable, a slight decrease to $11.415 billion in March 2025 was observed. This increase could indicate growing sales or changes in credit terms.
- Inventories
- Inventories experienced a gradual increase from $1.953 billion in March 2021 to $2.690 billion in December 2025. The increase was more pronounced between March 2023 and September 2024, reaching a peak of $3.332 billion. This suggests potential build-up in stock levels, possibly in anticipation of increased demand or due to supply chain considerations.
- Non-Current Assets
- Non-current assets generally decreased from $85.324 billion in March 2021 to $60.648 billion in December 2025. The most significant decline occurred in other intangible assets, which decreased from $50.819 billion to $19.103 billion over the same period. Goodwill remained relatively stable, with a slight increase from $20.524 billion to $21.754 billion. Property, plant, and equipment showed a modest increase throughout the period.
- Goodwill and Intangible Assets
- The substantial decrease in other intangible assets, coupled with the relative stability of goodwill, suggests potential asset write-downs or amortization of intangible assets. This could be related to acquisitions or changes in the valuation of long-term assets.
The increase in total assets in 2024 and 2025 appears to be driven primarily by increases in cash and cash equivalents, and a moderate increase in current assets, despite the continued decline in non-current assets. This shift in asset composition warrants further investigation to understand the underlying strategic implications.