Common-Size Balance Sheet: Assets
Quarterly Data
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Pfizer Inc. pages available for free this week:
- Income Statement
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to FCFF (EV/FCFF)
- Present Value of Free Cash Flow to Equity (FCFE)
- Selected Financial Data since 2005
- Return on Equity (ROE) since 2005
- Price to Sales (P/S) since 2005
- Analysis of Debt
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Pfizer Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-29), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-28), 10-Q (reporting date: 2025-06-29), 10-Q (reporting date: 2025-03-30), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-29), 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: 2023-10-01), 10-Q (reporting date: 2023-07-02), 10-Q (reporting date: 2023-04-02), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-02), 10-Q (reporting date: 2022-07-03), 10-Q (reporting date: 2022-04-03), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-03), 10-Q (reporting date: 2021-07-04), 10-Q (reporting date: 2021-04-04).
The asset structure exhibits a significant strategic shift from high liquidity toward long-term, intangible-heavy investments. Current assets, which peaked at 36.22% of total assets in October 2022, experienced a notable contraction starting in late 2023, stabilizing between 17% and 23% through early 2026. Conversely, noncurrent assets have increased their dominance, rising from a low of 63.78% in October 2022 to a peak of 82.50% by March 2024, indicating a reallocation of capital toward long-term growth and acquisition-based assets.
- Liquidity and Short-Term Asset Trends
- A volatile trend is observed in short-term investments, which surged to 17.92% in October 2022 before plummeting to 4.34% by October 2023. Cash and cash equivalents remained consistently low, generally fluctuating between 0.21% and 1.46%. Trade accounts receivable and inventories demonstrated relative stability, with receivables oscillating between 4.65% and 8.27% and inventories remaining within a narrow band of 4.50% to 5.66%, suggesting consistent working capital management despite broader balance sheet shifts.
- Intangible Assets and Goodwill Expansion
- There is a marked increase in the proportion of the balance sheet dedicated to intangible assets and goodwill, signaling aggressive acquisition activity. Identifiable intangible assets rose from 13.86% in December 2021 to a high of 28.65% in December 2023. Similarly, goodwill increased from 24.92% in October 2022 to 34.39% by March 2026. Together, these two categories now constitute over 59% of the total asset base, reflecting a strategic transition toward an IP-driven asset profile.
- Long-Term Investment and Fixed Asset Dynamics
- A sharp downward trend is evident in long-term investments, which fell from 12.74% in April 2021 to below 1% starting in December 2024, suggesting the liquidation or reallocation of these holdings to fund other corporate objectives. Property, plant, and equipment (PP&E) showed a gradual and steady increase, moving from 8.06% in October 2021 to 9.35% by March 2026, indicating a moderate and consistent expansion of physical infrastructure.
- Tax and Other Noncurrent Assets
- Noncurrent deferred tax assets exhibited a growth trend, rising from 1.60% in April 2021 to a peak of 5.29% in September 2025, before slightly receding. Other noncurrent assets increased from 2.99% in early 2021 to a range of 4.46% to 6.68% in subsequent periods, contributing to the overall increase in the noncurrent asset ratio.