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.

Pfizer Inc., consolidated balance sheet: assets (quarterly data)

US$ in millions

	Jun 29, 2025	Mar 30, 2025	Dec 31, 2024	Sep 29, 2024	Jun 30, 2024	Mar 31, 2024	Dec 31, 2023	Oct 1, 2023	Jul 2, 2023	Apr 2, 2023	Dec 31, 2022	Oct 2, 2022	Jul 3, 2022	Apr 3, 2022	Dec 31, 2021	Oct 3, 2021	Jul 4, 2021	Apr 4, 2021	Dec 31, 2020	Sep 27, 2020	Jun 28, 2020	Mar 29, 2020
Cash and cash equivalents	1,638)	1,430)	1,043)	1,092)	1,052)	719)	2,853)	3,148)	2,632)	2,166)	416)	1,298)	1,780)	2,470)	1,944)	1,966)	2,372)	1,768)	1,784)	1,587)	1,801)	2,151)
Short-term investments	11,611)	15,887)	19,434)	8,860)	6,048)	11,209)	9,837)	41,033)	42,153)	17,806)	22,316)	34,825)	31,524)	21,427)	29,125)	27,730)	19,328)	11,899)	10,437)	8,912)	9,581)	8,199)
Restricted short-term investments	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	—)	11,413)	11,412)	—)
Trade accounts receivable, net of allowance for doubtful accounts	12,078)	11,845)	11,463)	14,451)	11,393)	10,989)	11,177)	11,086)	10,231)	12,305)	10,952)	16,076)	15,155)	13,225)	11,479)	11,897)	10,587)	9,864)	7,930)	10,012)	9,128)	9,881)
Inventories	11,669)	10,852)	10,851)	11,721)	11,447)	10,892)	10,189)	10,204)	10,310)	9,541)	8,981)	9,513)	10,454)	9,979)	9,059)	8,640)	8,948)	8,493)	8,046)	9,295)	8,564)	8,423)
Current tax assets	4,016)	2,900)	3,314)	3,243)	3,694)	4,233)	3,978)	3,917)	3,194)	3,140)	3,577)	2,544)	2,583)	3,117)	4,266)	3,877)	3,761)	3,419)	3,264)	4,000)	3,426)	3,346)
Other current assets	2,691)	2,947)	4,253)	3,856)	4,191)	4,373)	5,299)	4,624)	4,827)	5,120)	5,017)	6,147)	5,970)	4,202)	3,820)	3,790)	3,818)	4,090)	3,606)	2,520)	2,512)	2,738)
Current assets	43,703)	45,861)	50,358)	43,223)	37,825)	42,415)	43,333)	74,012)	73,347)	50,078)	51,259)	70,403)	67,466)	54,420)	59,693)	57,900)	48,814)	39,533)	35,067)	47,739)	46,424)	34,738)
Equity-method investments	224)	224)	217)	8,582)	8,029)	8,123)	11,637)	11,025)	11,422)	11,175)	11,033)	9,826)	14,799)	15,995)	16,472)	16,349)	16,608)	16,532)	16,856)	15,949)	15,578)	15,524)
Long-term investments	1,896)	1,789)	2,010)	2,180)	3,119)	3,490)	3,731)	3,214)	3,644)	3,568)	4,036)	4,062)	4,163)	4,742)	5,054)	5,248)	4,334)	3,696)	3,406)	3,059)	3,142)	2,696)
Property, plant and equipment, net of accumulated depreciation	18,776)	18,347)	18,393)	18,541)	18,957)	18,803)	18,940)	17,862)	17,488)	17,052)	16,274)	15,441)	15,244)	15,109)	14,882)	14,436)	14,224)	14,011)	13,900)	14,403)	14,113)	14,040)
Identifiable intangible assets, net	52,702)	53,976)	55,411)	59,986)	61,240)	62,829)	64,900)	40,224)	41,406)	42,002)	43,370)	28,151)	29,065)	29,816)	25,146)	26,306)	27,323)	27,974)	28,471)	30,927)	33,541)	34,464)
Goodwill	68,997)	68,444)	68,527)	68,570)	68,445)	69,297)	67,783)	51,527)	51,572)	51,476)	51,375)	48,441)	49,891)	50,211)	49,208)	49,489)	49,867)	49,791)	49,577)	59,902)	58,449)	58,502)
Noncurrent deferred tax assets and other noncurrent tax assets	10,343)	9,542)	8,662)	7,909)	7,867)	4,942)	3,706)	8,350)	8,261)	7,302)	6,693)	7,136)	7,002)	5,668)	3,341)	2,755)	2,694)	2,537)	2,383)	2,649)	2,360)	2,207)
Other noncurrent assets	9,454)	9,845)	9,818)	10,485)	10,711)	11,196)	12,471)	8,807)	13,028)	12,964)	13,165)	10,890)	7,660)	7,880)	7,680)	6,705)	6,056)	4,744)	4,569)	4,355)	4,327)	4,165)
Noncurrent assets	162,392)	162,167)	163,038)	176,253)	178,368)	178,680)	183,168)	141,009)	146,821)	145,539)	145,946)	123,947)	127,824)	129,421)	121,783)	121,288)	121,106)	119,285)	119,162)	131,244)	131,510)	131,598)
Total assets	206,095)	208,028)	213,396)	219,476)	216,193)	221,095)	226,501)	215,021)	220,168)	195,617)	197,205)	194,350)	195,290)	183,841)	181,476)	179,188)	169,920)	158,818)	154,229)	178,983)	177,934)	166,336)

The financial data demonstrates various trends over the reported quarterly periods across multiple asset categories.

Cash and Cash Equivalents: This asset exhibited significant fluctuations. Starting at $2,151 million in March 2020, it declined to $416 million by December 2022 but rebounded strongly to $3,148 million by October 2023. Subsequently, it decreased to around $1,638 million by June 2025, indicating volatility in liquidity levels.
Short-term Investments: Short-term investments showed an upward trend in early periods, peaking at $42,153 million in July 2023 after growth from $8,199 million in March 2020. However, there was a marked decline afterward, falling to $11,611 million by June 2025, suggesting a reduction in short-term marketable securities holding post-peak.
Restricted Short-term Investments: Data is only available for June and September 2020, both showing values around $11,412 million, then no further data, indicating either discontinuation or unavailability of this asset category in subsequent periods.
Trade Accounts Receivable, Net: Receivables increased moderately from $9,881 million in March 2020 to $16,076 million in October 2022, followed by a substantial decrease to approximately $10,952 million by December 2022. They later fluctuated within the $11,000 million to $14,451 million range through June 2025, implying variability in credit sales or collections efficiency.
Inventories: Inventories showed moderate growth overall, starting at $8,423 million in March 2020, peaking near $11,721 million by September 2024, before slightly tapering to about $11,669 million by June 2025. This steady increase may reflect growing product stock or raw materials on hand.
Current Tax Assets: These assets remained generally stable, fluctuating between $2,500 million and $4,200 million in most periods, with a small dip in the middle period and some recovery towards the end of the timeline.
Other Current Assets: The values for other current assets varied significantly, increasing from roughly $2,500 million to a peak near $6,147 million in October 2022, then gradually declining towards about $2,691 million by June 2025, highlighting shifts in miscellaneous current assets composition or valuation.
Current Assets Total: The total current assets experienced notable volatility. Beginning at $34,738 million in March 2020, they rose to $70,403 million by October 2022, then sharply decreased to approximately $43,703 million by June 2025. This pattern mirrors the fluctuations observed in cash, investments, and receivables, suggesting significant movement within short-term asset management.
Equity-method Investments: These investments decreased substantially mid-period from $15,524 million in March 2020 to just a few hundred million by 2025, reflecting possible divestments or impairments in equity-method accounted assets.
Long-term Investments: Long-term investments initially increased until about October 2021, peaking near $5,248 million, then declined steadily to under $2,000 million by June 2025, which may indicate asset disposals or reclassifications.
Property, Plant and Equipment (net): There was a generally positive trend, with net property, plant, and equipment rising from about $14,040 million to approximately $18,776 million by mid-2025, suggesting ongoing investment in fixed assets.
Identifiable Intangible Assets, Net: This asset category exhibited volatility, decreasing initially from $34,464 million to about $25,146 million by December 2021, followed by a sharp rise to nearly $64,900 million by December 2023, before declining gradually to about $52,702 million by June 2025. The large peak suggests a significant intangible asset acquisition or revaluation during 2022-2023.
Goodwill: Goodwill remained relatively stable around $49,000 million until December 2021, then surged to above $67,000 million by December 2023, and maintained levels near $68,997 million into mid-2025, indicating major acquisitions or goodwill adjustments during 2022-2023.
Noncurrent Deferred Tax and Other Noncurrent Tax Assets: These assets showed consistent growth from $2,207 million in early 2020 to over $10,343 million by June 2025, demonstrating increased recognition of deferred tax assets or tax-related asset optimization strategies.
Other Noncurrent Assets: Other noncurrent assets increased from around $4,165 million to over $13,000 million by late 2022, then decreased to $9,454 million by mid-2025, indicating fluctuations in long-term miscellaneous asset holdings.
Noncurrent Assets Total: The total noncurrent assets demonstrated growth from approximately $131,598 million in early 2020 to a peak of about $183,168 million by December 2023, followed by reductions to around $162,392 million by mid-2025, showing an overall expansion of long-term asset base with some subsequent contractions.
Total Assets: Total assets increased overall from $166,336 million in March 2020 to a high of approximately $226,501 million by December 2023, then decreased to around $206,095 million by June 2025. This reflects the combined effects of the asset category fluctuations described above.

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Pfizer Inc. (NYSE:PFE)

Balance Sheet: AssetsQuarterly Data

Assets: Selected Items

Current Assets: Selected Items

Balance Sheet: Assets
Quarterly Data