Common-Size Balance Sheet: Assets
Quarterly Data
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Pfizer Inc. pages available for free this week:
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) 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: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).
- Liquidity and Short-term Financial Position
- The proportion of cash and cash equivalents relative to total assets shows fluctuations over the periods, starting at 1.29% in March 2020, decreasing to a low of 0.21% in December 2022, and subsequently recovering to around 0.69% by March 2025. Short-term investments as a percentage of total assets display considerable volatility, increasing significantly from 4.93% in March 2020 to peaks above 19% in mid to late 2023, before declining sharply to under 8% at the beginning of 2025.
- Accounts Receivable and Inventory Trends
- Trade accounts receivable, net, steadily increased from 5.94% to a peak of 8.27% by October 2022, followed by a decline to around 5.69% in March 2025. Inventory levels demonstrated relative stability, ranging mostly between 4.5% and 5.4% over the entire period, without pronounced upward or downward trends.
- Current Assets Composition and Variability
- Current assets as a percentage of total assets showed notable variability, reaching a peak of 36.22% in October 2022 before declining significantly to about 22.05% by March 2025. This fluctuation aligns with the changes observed in short-term investments and cash equivalents, highlighting shifts in liquidity management.
- Long-term and Noncurrent Assets Changes
- Equity-method investments exhibited a declining trend, decreasing from 9.33% to near negligible values by March 2025. Long-term investments also gradually reduced from 1.62% to under 1% over the timeline. Property, plant and equipment maintained a relatively stable range around 8% of total assets, indicating steady investment in fixed assets.
- Intangible Assets and Goodwill
- Identifiable intangible assets oscillated within a broad range, initially declining from about 20.7% to below 15%, then showing an upward spike to nearly 29% in late 2023 and early 2024 before slightly decreasing. Goodwill experienced a downward trend from approximately 35% to near 24% by late 2022, then rebounded to levels above 32% by early 2025, suggesting asset revaluations or acquisitions impacting goodwill values.
- Tax-related and Other Noncurrent Assets
- Noncurrent deferred tax assets and other tax-related noncurrent assets increased gradually from 1.33% to over 4.5% by March 2025. Other noncurrent assets rose steadily, peaking above 6% in late 2022, then moderately declining to around 4.7% at the end of the period.
- Overall Asset Composition
- Noncurrent assets accounted for a predominant share of total assets, fluctuating between roughly 63.78% and 82.5%, showing a tendency to rise from mid-2023 onwards. The total asset components consistently summed to 100%, confirming the relative comparisons provided are internally consistent.
- Summary
- The data reveals a dynamic asset allocation strategy characterized by significant shifts in liquid assets and investments, with marked fluctuations in short-term investments and cash positioning. The steady level of fixed assets contrasts with volatile intangible assets and goodwill, reflecting possible strategic acquisitions or revaluations. Increasing deferred tax assets and other noncurrent assets suggest evolving tax positions or long-term investments. The overall structure maintains a large proportion of noncurrent assets, consistent with a company heavily invested in long-term assets and intellectual property.