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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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., consolidated balance sheet: assets (quarterly data)
US$ in millions
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).
Total assets exhibited a general upward trajectory from April 2021, increasing from 158.8 billion US$ to a peak of 226.5 billion US$ in December 2023, before stabilizing and slightly declining to 207.6 billion US$ by March 2026. This growth was primarily driven by substantial expansions in non-current assets, particularly through intangible assets and goodwill.
- Liquidity and Current Asset Trends
- Current assets showed significant volatility, peaking at 74.0 billion US$ in July 2023 before contracting to approximately 42.8 billion US$ by March 2026. This fluctuation is largely attributed to short-term investments, which reached a high of 42.1 billion US$ in July 2023 but declined to 11.3 billion US$ by the end of the analyzed period. Cash and cash equivalents remained relatively low and volatile, with a notable trough of 416 million US$ in December 2022 and a peak of 3.1 billion US$ in October 2023.
- Intangible Assets and Goodwill
- A structural shift in the balance sheet occurred in December 2023, characterized by a sharp increase in identifiable intangible assets, which rose from 40.2 billion US$ in October 2023 to 64.9 billion US$ in December 2023. Simultaneously, goodwill increased from 51.5 billion US$ in October 2023 to 67.7 billion US$ in December 2023, eventually climbing to 71.4 billion US$ by March 2026. This pattern suggests significant capital allocation toward acquisitions during the 2023-2024 period.
- Fixed Assets and Long-Term Investments
- Property, plant, and equipment (net) demonstrated a consistent and steady growth trend, rising from 14.0 billion US$ in April 2021 to 19.4 billion US$ in March 2026, indicating ongoing investment in physical infrastructure. In contrast, long-term investments experienced a severe contraction; after remaining relatively stable between 13.8 billion US$ and 21.5 billion US$ from 2021 to 2023, these assets plummeted to 2.2 billion US$ by December 2024 and further decreased to 1.6 billion US$ by March 2026.
- Tax and Other Assets
- Non-current deferred tax assets and other non-current tax assets showed a general increase over time, growing from 2.5 billion US$ in April 2021 to a peak of 11.0 billion US$ in September 2025. Other non-current assets peaked in December 2022 at 13.1 billion US$ before stabilizing around 9.8 billion US$ in the final quarters of the analysis.
The overall asset composition shifted from a higher reliance on liquid short-term and long-term investments toward a heavier concentration of intangible assets and goodwill. This transition, coupled with the steady increase in net property, plant, and equipment, indicates a strategic pivot toward inorganic growth and infrastructure expansion, financed by the reduction of investment portfolios.