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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Merck & Co. Inc. pages available for free this week:
- Balance Sheet: Liabilities and Stockholders’ Equity
- Common-Size Income Statement
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Return on Assets (ROA) since 2005
- Current Ratio since 2005
- Debt to Equity since 2005
- Price to Sales (P/S) since 2005
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Merck & Co. Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2026-06-30), 10-Q (reporting date: 2026-03-31), 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).
Total assets exhibit a long-term upward trajectory, increasing from 90.8 billion USD in March 2021 to 129.8 billion USD by June 2026. This growth is characterized by periodic fluctuations, with a significant peak of 136.9 billion USD recorded in September 2025 before a moderate correction in the following quarters.
- Liquidity and Current Asset Trends
- Current assets grew from 26.9 billion USD to 36.7 billion USD over the analyzed period. Cash and cash equivalents demonstrated high volatility, with significant peaks in September 2024 (14.6 billion USD) and September 2025 (18.2 billion USD), contrasted by lows near 5.3 billion USD in March 2026. Accounts receivable showed a consistent and steady increase, rising from 8.2 billion USD in March 2021 to 12.6 billion USD in June 2026, suggesting an expansion in sales volume or shifts in credit terms. Inventories remained relatively stable, fluctuating within a narrow band between 5.4 billion USD and 6.6 billion USD.
- Fixed Asset Expansion
- Property, plant, and equipment (PP&E) displayed a disciplined and consistent growth pattern. The net value rose from 18.3 billion USD in March 2021 to 25.7 billion USD in June 2026. This steady climb indicates a sustained commitment to capital expenditure and the expansion of physical infrastructure and production capacity over the five-year span.
- Intangible Assets and Strategic Valuation
- The valuation of intangible assets is marked by two distinct surges. The first occurred in December 2021, where other intangibles jumped from approximately 13.4 billion USD to 22.9 billion USD. A second, more substantial increase is observed in December 2025, where the value surged from 15.3 billion USD in September to 26.7 billion USD. Goodwill remained relatively stable, hovering between 18.9 billion USD and 21.7 billion USD, suggesting that the asset growth was driven more by specific intangible acquisitions or patents than by general corporate premiums.
- Non-Current Asset Composition
- Non-current assets increased from 63.9 billion USD to 93.1 billion USD. Beyond PP&E and intangibles, "Other assets" showed a notable upward trend, nearly doubling from 10.5 billion USD in March 2021 to 19.6 billion USD by June 2026. This suggests a diversification of long-term holdings or an increase in deferred charges and long-term prepaid expenses.