Common-Size Balance Sheet: Assets
Quarterly Data
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- Statement of Comprehensive Income
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Profitability Ratios
- Analysis of Solvency Ratios
- Analysis of Reportable Segments
- Enterprise Value (EV)
- Enterprise Value to EBITDA (EV/EBITDA)
- Present Value of Free Cash Flow to Equity (FCFE)
- Operating Profit Margin since 2005
- Price to Earnings (P/E) since 2005
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Thermo Fisher Scientific Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 10-Q (reporting date: 2026-03-28), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 10-Q (reporting date: 2025-03-29), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-28), 10-Q (reporting date: 2024-06-29), 10-Q (reporting date: 2024-03-30), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-07-01), 10-Q (reporting date: 2023-04-01), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-10-01), 10-Q (reporting date: 2022-07-02), 10-Q (reporting date: 2022-04-02), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-10-02), 10-Q (reporting date: 2021-07-03), 10-Q (reporting date: 2021-04-03).
The asset composition is characterized by a heavy concentration in long-term assets, which consistently represent between 66% and 80% of the total balance sheet. Current assets exhibit greater volatility, typically fluctuating between 20% and 33% of total assets, reflecting periodic shifts in liquidity and working capital requirements.
- Liquidity and Cash Position
- Cash and cash equivalents demonstrate significant volatility throughout the period. A peak of 16.34% was observed in October 2021, followed by a marked decline to 2.08% by July 2022. While the position stabilized between 4% and 8% for much of 2023 and 2024, a sharp dip to 1.92% occurred in September 2025 before recovering. Short-term investments were negligible or absent until December 2023, after which they maintained a small presence, generally under 2% of total assets, before returning to 0% by March 2026.
- Working Capital Dynamics
- Accounts receivable remain remarkably stable as a percentage of total assets, consistently hovering between 8.0% and 8.6% across all reporting periods. In contrast, inventories show a gradual downward trend, decreasing from an initial range of 6.6% to 6.8% in early 2021 to approximately 4.8% by March 2026, suggesting improved inventory turnover or a shift in asset utilization. Contract assets have seen a modest increase, rising from 1.19% to approximately 1.49% over the analyzed timeframe.
- Long-Term Asset Structure and Growth Strategy
- Goodwill constitutes the largest single component of the balance sheet, showing a general upward trajectory from 40.68% in April 2021 to a peak of 48.72% by March 2026. This expansion indicates a sustained strategy of growth through acquisitions. Conversely, acquisition-related intangible assets have generally declined from 19.46% to 16.90%, a pattern likely attributable to systemic amortization. Property, plant, and equipment remain stable, consistently representing approximately 9.3% to 9.9% of total assets, indicating that capital expenditure in physical infrastructure is scaling proportionally with the overall growth of the asset base.