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
Jun 30, 2025 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: 2025-06-30), 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 relative to total assets showed notable fluctuations over the periods. It initially rose from 8.74% in early 2020 to over 12% by mid-2020, followed by a generally downward trend reaching a low of 5.27% by mid-2024. Thereafter, it rebounded to exceed 12% again in mid-2024 before declining towards the end of the dataset.
Short-term Investments
This category exhibited sparse values initially but showed a gradual increase in the later periods, growing from negligible percentages near 0.01% and stabilizing around 0.5% from early 2023 onward, indicating an increased allocation to short-term investments relative to total assets.
Accounts Receivable, Net
The accounts receivable, net of doubtful accounts, remained relatively stable around 9-10%, with modest variation across the quarters. There was a slight upward trend in the more recent periods, peaking at 10.74% in early 2024, followed by a mild decline.
Inventories
Inventories as a percentage of total assets showed a gradual decline from approximately 6.88% in early 2020 to lows around 5.22%-5.38% in 2024, indicating efficient inventory management or changes in inventory levels relative to asset growth.
Other Current Assets
Other current assets experienced an upward trend from about 5.5% in early 2020 to values exceeding 7% in the latest periods, signaling an increasing share of these assets within the current asset base.
Current Assets Overall
The total current assets fluctuated within a relatively narrow range around 30%, with minor decreases observed in the middle periods and a recovery beyond 33% between mid-2024 and early 2025. These changes suggest shifts in the composition of the asset base between current and noncurrent assets.
Investments
Investments as a percentage of total assets remained relatively low and variable, mostly below 1%, with a slight increase notable around late 2022 and early 2023. The inconsistent pattern may reflect changes in long-term investment strategies or market valuations.
Property, Plant, and Equipment, Net
This component showed a general upward trajectory from about 18% of total assets in early 2020 to over 21% in several recent periods, indicating sustained capital investment or revaluation of fixed assets within the company's asset structure.
Goodwill
Goodwill displayed a gradual downward trend from approximately 23% in early 2020 to below 19% in recent quarters, reflecting possible amortization, impairment, or divestiture activities affecting intangible assets acquired through acquisitions.
Other Intangibles, Net
Other intangibles declined noticeably from nearly 19% early in the observed periods to around 13% by the end of the dataset, demonstrating a consistent decrease which may be attributed to amortization, impairment, or strategic repositioning of intangible assets.
Other Assets
The share of other assets gradually increased from about 8.3% to over 15% towards the end, showing a marked increase that may be due to additions in various nonclassified asset categories or shifts in asset classification.
Noncurrent Assets Overall
Noncurrent assets hovered around 67-70% of total assets with slight variations. There was no significant long-term upward or downward trend but some fluctuation reflecting changes within the composition of long-term holdings.
Total Assets
By definition, total assets represent 100% of the company's assets for all periods and serve as the baseline against which all other ratios are compared.