Stock Analysis on Net
Stock Analysis on Net

Merck & Co. Inc. (NYSE:MRK)

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Common-Size Balance Sheet: Assets
Quarterly Data

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Merck & Co. Inc., common-size consolidated balance sheet: assets (quarterly data)

Microsoft Excel
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 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020
Cash and cash equivalents
Short-term investments
Accounts receivable, net of allowance for doubtful accounts
Inventories, excludes inventories classified in Other assets
Other current assets
Current assets
Investments
Property, plant and equipment, at cost, net of accumulated depreciation
Goodwill
Other intangibles, net
Other assets
Noncurrent assets
Total assets

Based on: 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 relative to total assets exhibits notable fluctuations over the observed periods. Starting at 8.74% in March 2020, it peaked at 12.25% in June 2020, followed by a general decline with intermittent increases. A significant dip occurred in mid-2023, reaching as low as 5.27% in March 2024, before rising again to 12.42% in September 2024, and then falling to 7.5% by March 2025. This variability indicates dynamic liquidity management across quarters.
Short-Term Investments
Short-term investments represent a very small fraction of total assets, with several periods showing no data. From near negligible levels in early 2020, the proportion moderately increased around 2022-2024, reaching up to around 0.69%. Despite the low magnitude, the increasing trend suggests a cautious allocation towards short-term securities in later periods.
Accounts Receivable, Net
The share of accounts receivable has remained relatively stable, hovering between about 8.36% and 10.74% of total assets. There is a mild upward trend particularly from early 2023 through mid-2024, which then slightly recedes by March 2025. This stability suggests consistent revenue collection patterns with no material change in credit policies over time.
Inventories
Inventory levels as a percentage of total assets show a gradual decreasing trend from 6.88% in early 2020 to near 5.2%-5.4% in recent quarters. This decline points to potentially improved inventory turnover or strategic inventory reduction over the period.
Other Current Assets
Other current assets increased from about 5.55% in March 2020 to fluctuate around 6%-8% range in recent quarters, demonstrating an upward trend. This increase might reflect greater prepayments, accrued income, or other liquid assets included under this category.
Current Assets
Total current assets as a percent of total assets have remained moderately steady with some variation between approximately 28.64% and 34.34%. The asset composition shifts slightly but the overall current asset base remains consistent around a third of total assets.
Investments
Longer-term investments constitute a very small proportion of total assets, generally below 1.5%. Observations show minor fluctuations without clear trends, indicating a relatively stable but minimal investment allocation over the periods.
Property, Plant and Equipment (Net)
Property, plant, and equipment relative to total assets steadily increased from 17.98% in 2020 to a peak near 21.77% in mid-2024, before a slight rise to 21.54% in early 2025. This gradual growth suggests ongoing capital expenditure and sustained investment in fixed assets.
Goodwill
Goodwill as a percentage of total assets shows a general decline from over 23% in early 2020 to under 19% by 2025. This downward trend may indicate impairments, disposals, or amortization affecting intangible goodwill values.
Other Intangibles, Net
Other intangibles decreased from around 19% at the start of 2020 to under 14% by 2025. The decline is relatively steady, indicating systematic amortization or write-downs affecting intangible assets in this category.
Other Assets
This category rose steadily from about 8.3% of total assets in early 2020 to over 14.5% by March 2025. The expanding share may reflect increased deferred charges, long-term receivables, or other miscellaneous noncurrent assets.
Noncurrent Assets
Noncurrent assets maintained a consistent proportion of total assets, fluctuating mostly between 65% and 71%. The minor oscillations reflect changes in fixed assets and intangible assets but overall maintain a dominant share of total asset composition.
Total Assets
By definition, total assets represent 100% over all periods, serving as the baseline for the proportional analysis of all other asset categories.