Common-Size Balance Sheet: Assets
Quarterly Data
Thermo Fisher Scientific Inc., common-size consolidated balance sheet: assets (quarterly data)
Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-26), 10-Q (reporting date: 2020-06-27), 10-Q (reporting date: 2020-03-28).
- Cash and cash equivalents
- The proportion of cash and cash equivalents relative to total assets exhibited notable fluctuations during the period. Beginning at 5.08% in March 2020, the ratio rose to a peak of 16.34% in October 2021, followed by a sharp decline to 2.08% by July 2022. Subsequently, cash levels oscillated and generally stabilized between roughly 3% and 8%, with a decline to levels around 4% by the end of the reported timeframe in March 2025.
- Short-term investments
- Data on short-term investments was predominantly unavailable until the later periods, where a modest proportion emerged, fluctuating modestly around 1.6% to 1.99% relative to total assets from June 2024 onward.
- Accounts receivable, less allowances
- This component showed relative stability throughout the periods, fluctuating narrowly around 7.2% to 8.6% of total assets. Minor increases were observed around mid-2023, but overall, no significant trend changes were apparent.
- Inventories
- Inventories as a percentage of total assets hovered between approximately 5.1% and 6.8%. A slight upward trend occurred from early 2020 into mid-2021, followed by a moderate decline and stabilization near 5.1% to 5.9% in the latest quarters.
- Contract assets, net
- Contract assets showed a gradual and consistent increase over the period, growing from around 1.1% to peaks above 1.5%, indicating a progressive rise in unbilled receivables or related assets on contracts.
- Other current assets
- Other current assets remained relatively stable, maintaining a range approximately between 1.5% and 2.4%. A slight upward trend was noted from early 2023 onward, reaching its highest proportion near the end of the period reported.
- Current assets
- The aggregate current assets percentage exhibited considerable variability. Starting at 21.7% in March 2020, a notable increase to 33.59% occurred in October 2021, succeeded by a reduction down to around 20% by late 2021 and early 2022. Afterward, current assets stabilized mostly between 21% and 26% through early 2025.
- Property, plant and equipment, net
- Property, plant, and equipment relative to total assets demonstrated minor fluctuations but remained generally consistent, ranging mostly between 7.9% and 9.9%. There was a slight declining tendency after mid-2023 toward the 9.4% level by early 2025.
- Acquisition-related intangible assets, net
- This asset category showed a declining trend overall. Starting above 23% in early 2020, the ratio decreased steadily, reaching approximately 15.5% by March 2025, suggesting a reduction possibly due to amortization or divestitures of intangible assets.
- Other assets
- Other assets saw a mild upward creep over time, moving from about 3.5% to approximately 4.6% of total assets by the end of the period, indicating a slight increase in other long-term or miscellaneous assets.
- Goodwill
- Goodwill represented the largest intangible asset segment, displaying considerable fluctuation. After an initial decline from 43.64% to the mid-30%s by late 2020 and early 2021, a significant jump back above 44% occurred in late 2021. From there, goodwill remained largely stable between about 44% and 47%, reflecting either acquisitions, impairments, or revaluations over the timeframe.
- Long-term assets
- The aggregate long-term assets as a percentage of total assets demonstrated a declining trend from 78.3% in early 2020 to around 66.41% by October 2021, followed by a rebound to approximately 77% by early 2025. This pattern suggests asset reclassifications or changes in the portfolio structure between long-term and current asset categories.
- Total assets
- By definition, total assets maintained a constant 100% weight as the basis for relative share calculations.