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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Eli Lilly & Co. pages available for free this week:
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to EBITDA (EV/EBITDA)
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Net Profit Margin since 2005
- Analysis of Debt
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Eli Lilly & Co., consolidated balance sheet: assets (quarterly data)
US$ in thousands
Based on: 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
- Cash and cash equivalents showed a generally fluctuating trend with several peaks and troughs during the periods. Initial growth is observed from March 2020 to December 2020, followed by a decline in early 2022. A recovery trend is evident from early 2023 through mid-2024, with amounts oscillating between approximately $2.4 billion and $3.4 billion. The figure peaks towards the end of 2025 reaching approximately $3.38 billion, indicating some volatility but no consistent long-term upward or downward trajectory.
- Short-Term Investments
- Short-term investments remained relatively modest compared to other asset categories. Values fluctuated within a range of roughly $22 million to $170 million. There was a notable increase starting from early 2022, reaching a high in June 2024, but the amounts decreased somewhat thereafter, showing some variability without a clear sustained growth.
- Accounts Receivable, Net of Allowances
- This category displays a steady upward trend over the full period analyzed. Beginning near $5.1 billion in early 2020, accounts receivable consistently increased to approximately $14.17 billion by mid-2025, indicating expanding sales on credit or longer collection periods. Some fluctuations occurred quarterly but the overall direction was significantly positive.
- Other Receivables
- Other receivables showed a rising trend with periodic volatility. From just over $1.2 billion in March 2020, it increased to over $3 billion by mid-2025. This suggests growing amounts due other than typical receivables, possibly from affiliates or miscellaneous sources, with intermittent fluctuations in certain quarters.
- Inventories
- Inventory levels increased markedly over time, from approximately $3.1 billion at the start to over $11 billion by mid-2025. While inventory fluctuated within some periods, the trend reveals a significant buildup, possibly reflecting product stockpiling, expansion in product lines, or changes in inventory management strategies.
- Prepaid Expenses
- Data for prepaid expenses is mostly missing until March 2024, from where it shows a strong upward trajectory climbing from about $5.5 billion to $18 billion by mid-2025. This growing prepaid expense balance suggests increasing advance payments, potentially for marketing, insurance, or other operational expenses.
- Other Current Assets
- Other current assets demonstrated an overall declining trend, from approximately $2.7 billion in early 2020 to below $70 million by mid-2025. The consistent decline indicates a diminishing component of current assets outside of the main categories, potentially signifying asset reclassification or realization.
- Current Assets
- Total current assets increased from roughly $14 billion in early 2020 to almost $50 billion by mid-2025. Despite some volatility, especially notable declines in early 2022, the general trend is strongly positive, driven by increases in receivables, inventories, and prepaid expenses.
- Investments
- Investment assets remained relatively stable and consistent, remaining between $2.3 billion and $3.2 billion across the entire period with slight fluctuations. There is no clear upward or downward trend, suggesting a stable investment strategy without major acquisitions or disposals.
- Goodwill
- Goodwill values remained nearly flat in initial years around $3.7 to $4 billion but increased sharply from 2023 onwards, reaching approximately $5.77 billion and stabilizing there through mid-2025. This points to significant acquisition activity or business combinations occurring post-2022.
- Other Intangibles, Net
- Other intangible assets showed a downward trend from approximately $7.76 billion in 2020 to about $5.9 billion by mid-2025. The steady decline suggests amortization and perhaps impairment or disposals of intangible assets over time.
- Deferred Tax Assets
- Deferred tax assets consistently increased from near $2.5 billion in 2020 to nearly $9.4 billion by mid-2025. This substantial growth may reflect increasing temporary differences or tax credit recognition, contributing positively to the financial position.
- Property and Equipment, Net
- The net value of property and equipment exhibited a significant growth trend, rising from about $7.9 billion in early 2020 to over $20.5 billion by midway through 2025. This continuous rise indicates ongoing capital investments, expansion efforts, or upgrades to fixed assets.
- Other Noncurrent Assets
- Other noncurrent assets gradually increased from roughly $3 billion in 2020 to over $6.2 billion by mid-2025. This reflects a growth in long-term assets outside core categories, possibly including long-term receivables, deposits, or deferred charges.
- Noncurrent Assets
- Total noncurrent assets moved upward steadily from about $27.1 billion to over $51 billion, consistent with trends in goodwill, property and equipment, and deferred tax assets. This suggests an ongoing expansion of the asset base beyond current asset holdings over the analyzed timeframe.
- Total Assets
- Total assets increased materially from approximately $41.1 billion in early 2020 to over $100.9 billion by mid-2025. While there were some fluctuations in individual quarters, the overall trajectory shows significant growth in asset holdings, driven by increases in both current and noncurrent asset categories. This trend highlights an expanding scale of operations and possibly increased investment and acquisitions.