Common-Size Balance Sheet: Assets
Quarterly Data
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- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Selected Financial Data since 2005
- Current Ratio since 2005
- Total Asset Turnover since 2005
- Price to Sales (P/S) since 2005
- Analysis of Revenues
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International Business Machines Corp., common-size consolidated balance sheet: assets (quarterly data)
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 proportion of cash and cash equivalents to total assets displayed some fluctuations over the observed periods. Initially, it slightly increased from 7.31% to a peak of 9.34% in September 2020, then declined to around 5% to 6% during mid-2021. Notable growth occurred again at the end of 2023 and early 2024, exceeding 9%, before moderating back to approximately 8% towards late 2025.
- Restricted Cash
- Restricted cash remained relatively low, mostly under 0.3% of total assets, with a notable spike to 1.69% in June 2024. This spike appears as an outlier, after which percentages reverted to more typical low single-digit values.
- Marketable Securities
- Marketable securities as a percentage of total assets showed variability, with an upward surge seen in early 2023 reaching over 6%, followed by a sharp decline through the remainder of 2023 and into early 2024. Moderate increases were visible again from mid-2024 through 2025 but did not reach earlier peaks.
- Notes and Accounts Receivable, Trade, Net
- This category generally hovered around the 4% to 5% range of total assets, showing minor declines in several quarters but with intermittent upticks, indicative of fairly stable trade receivable management over time.
- Short-term Financing Receivables, Held for Investment
- There was a clear downward trend from nearly 8% in early 2020 to below 4% by late 2025. This gradual reduction suggests a scaling back or refinancing of short-term financing receivables held for investment.
- Short-term Financing Receivables, Held for Sale
- Introduced only around late 2021, this item maintained a low proportion of total assets, fluctuating around 0.3% to 0.7%, implying a minor but steady presence in this category.
- Other Accounts Receivable, Net
- Other accounts receivable remained consistently low, generally between 0.4% and 0.8%, with modest increases late in the period, perhaps reflecting slightly more diversified non-trade receivables.
- Inventory (Finished Goods, Work in Process, and Raw Materials)
- Inventory levels demonstrated a slight decline over the period. Finished goods were mostly below 0.2%, while work in process and raw materials peaked near 1.26% in 2022 before decreasing to around 0.7% toward 2025. Overall, inventory as a whole showed mild contraction.
- Deferred Costs
- Deferred costs as a percentage of assets decreased from over 1.5% early in the timeline to around 0.5%-0.8% by 2025, indicating potential amortization or reductions in prepaid expenses or capitalized costs.
- Prepaid Expenses and Other Current Assets
- This category maintained a band between approximately 1.4% and 2.6%, showing general stability with minor oscillations but no major trend upward or downward.
- Current Assets
- Current assets as a proportion of total assets fluctuated between approximately 20% and 27%. There were declines during 2021 followed by a recovery in late 2023 and early 2024, suggesting active management of liquid and short-term assets.
- Property, Plant and Equipment (PPE) and Net PPE
- The gross PPE percentage peaked above 22% in mid-2021, followed by a marked drop to the low-to-mid teens from late 2021 onward. Net PPE remained low, mostly around 4%, reflecting growing accumulated depreciation which also showed a decreasing absolute value relative to total assets, suggesting accelerated depreciation or asset disposals.
- Operating Right-of-Use Assets, Net
- These assets showed a gradual decline from just above 3% to around 2.2%-2.5% over the periods, potentially indicating lease terminations or refinements in lease accounting.
- Long-term Financing Receivables, Net
- A decreasing trend was evident from just above 5% to around 3.5%-4.3%, suggesting a contraction or restructuring in long-term financing assets.
- Prepaid Pension Assets
- Prepaid pension assets increased from 4.5% in early 2020 to a peak over 7% by late 2021, followed by a decline back to around 5%-5.5%, hinting at fluctuations in pension fund surpluses or changes in pension accounting assumptions.
- Deferred Taxes
- Deferred taxes accounted for approximately 4.8% to 6.2% throughout, with minor fluctuations, indicating a relatively steady deferred tax asset/liability position over time.
- Goodwill
- Goodwill represented the largest portion of total assets, increasing steadily from about 37.5% to over 46% by late 2023 through 2025, reflecting possible acquisitions and sustained intangible asset valuation.
- Intangible Assets, Net
- Intangible assets net of amortization declined slightly from near 9.5% to about 8% of total assets, suggesting amortization outpaced additions or impairments reduced net values.
- Investments and Sundry Assets
- This category remained fairly stable around 1.2% to 1.5%, indicating a minor but consistent allocation of resources in various investment types.
- Noncurrent Assets
- Noncurrent assets comprised the majority of total assets, fluctuating within a 73% to 79% band. The data suggests a predominantly long-term asset base, with some variation likely due to reclassifications, impairments, or asset investments.
- Overall Asset Composition
- The asset base was heavily weighted toward intangible assets, particularly goodwill, which accounted for close to half of total assets in recent years. There was a general trend of declining property, plant and equipment, and related net values, alongside stable or decreasing inventories and receivables. Current assets showed moderate volatility, particularly cash and cash equivalents and marketable securities, suggesting fluctuating liquidity management strategies. The proportion of noncurrent assets remained dominant, reflecting the nature of the company's investment structure.