Stock Analysis on Net
Stock Analysis on Net

Altria Group Inc. (NYSE:MO)

This company has been moved to the archive! The financial data has not been updated since October 31, 2024.

Common-Size Balance Sheet: Assets 
Quarterly Data

Altria Group Inc., common-size consolidated balance sheet: assets (quarterly data)

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Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021 Dec 31, 2020 Sep 30, 2020 Jun 30, 2020 Mar 31, 2020 Dec 31, 2019 Sep 30, 2019 Jun 30, 2019 Mar 31, 2019
Cash and cash equivalents 5.55 5.23 9.89 9.56 4.21 2.35 10.63 10.91 7.31 6.99 13.30 11.50 7.47 4.23 11.87 10.43 8.84 9.61 10.67 4.30 3.03 3.12 5.66
Receivable from the sale of IQOS System commercialization rights 0.00 0.00 0.00 0.00 0.00 4.77 4.74 4.66 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Receivables 0.25 0.21 0.21 0.18 0.16 0.17 0.16 0.13 0.15 0.12 0.11 0.12 0.09 0.30 0.29 0.29 0.32 0.28 0.28 0.31 0.31 0.28 0.27
Leaf tobacco 1.53 1.63 1.67 1.68 1.66 1.61 1.80 1.91 1.79 1.65 1.68 1.88 1.63 1.45 1.55 1.78 1.62 1.53 1.70 1.77 1.55 1.46 1.57
Other raw materials 0.55 0.58 0.55 0.53 0.58 0.56 0.55 0.50 0.56 0.50 0.44 0.42 0.40 0.40 0.38 0.42 0.44 0.39 0.37 0.39 0.38 0.34 0.32
Work in process 0.08 0.07 0.07 0.06 0.08 0.08 0.08 0.06 0.08 0.08 0.07 0.06 0.08 1.01 0.97 1.06 0.96 0.86 0.89 1.41 1.13 1.05 1.10
Finished product 1.06 1.13 1.11 0.88 0.90 0.95 0.97 0.72 0.83 0.89 0.82 0.66 0.76 1.18 1.10 0.89 0.97 1.03 0.86 1.08 1.08 1.05 0.99
Inventories 3.22% 3.41% 3.40% 3.15% 3.22% 3.21% 3.40% 3.19% 3.26% 3.11% 3.02% 3.02% 2.86% 4.04% 3.99% 4.15% 3.99% 3.81% 3.81% 4.65% 4.14% 3.89% 3.98%
Income taxes 0.60 0.92 0.47 1.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Assets held for sale 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3.77 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Other current assets 0.61 0.52 0.27 0.30 1.71 1.18 0.50 0.65 1.12 0.90 0.37 0.75 1.02 0.86 0.30 0.15 0.56 0.25 0.32 0.53 0.63 0.50 0.67
Current assets 10.24% 10.29% 14.25% 14.48% 9.30% 11.68% 19.42% 19.54% 11.84% 11.12% 16.81% 15.39% 15.22% 9.43% 16.46% 15.01% 13.72% 13.95% 15.08% 9.79% 8.11% 7.80% 10.57%
Property, plant and equipment, at cost 13.22 13.11 12.38 11.88 12.41 12.08 11.98 11.98 12.99 11.82 10.69 11.21 11.17 11.50 10.57 10.86 11.09 10.23 9.70 10.30 9.47 8.58 8.30
Accumulated depreciation -8.49 -8.40 -7.93 -7.60 -7.94 -7.70 -7.66 -7.63 -8.31 -7.59 -6.84 -7.28 -7.33 -7.14 -6.50 -6.62 -6.78 -6.25 -5.90 -6.24 -5.76 -5.25 -5.06
Property, plant and equipment, less accumulated depreciation 4.74% 4.71% 4.45% 4.28% 4.47% 4.38% 4.33% 4.35% 4.67% 4.24% 3.84% 3.93% 3.84% 4.35% 4.06% 4.24% 4.31% 3.99% 3.80% 4.06% 3.71% 3.33% 3.24%
Goodwill 20.33 20.20 19.04 17.61 18.62 18.28 14.06 14.01 15.25 14.09 12.87 13.10 13.09 11.66 10.61 10.92 11.10 10.31 9.84 10.51 9.94 9.04 8.77
Other intangible assets, net 38.08 37.94 36.84 35.48 37.64 37.01 33.58 33.51 36.38 33.67 30.54 31.14 31.15 28.34 25.83 26.61 27.08 25.20 24.08 25.75 23.98 21.44 20.81
Investments in equity securities 23.86 24.24 23.02 25.96 27.17 25.96 25.96 25.98 28.90 34.26 33.50 34.11 35.07 44.68 41.28 41.19 41.60 44.46 45.35 47.86 51.68 55.81 54.05
Other assets 2.76 2.61 2.39 2.19 2.81 2.71 2.66 2.61 2.95 2.62 2.44 2.34 1.64 1.54 1.76 2.03 2.20 2.09 1.86 2.04 2.58 2.57 2.55
Non-current assets 89.76% 89.71% 85.75% 85.52% 90.70% 88.32% 80.58% 80.46% 88.16% 88.88% 83.19% 84.61% 84.78% 90.57% 83.54% 84.99% 86.28% 86.05% 84.92% 90.21% 91.89% 92.20% 89.43%
Total assets 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00%

Based on: 10-Q (reporting date: 2024-09-30), 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: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31), 10-K (reporting date: 2019-12-31), 10-Q (reporting date: 2019-09-30), 10-Q (reporting date: 2019-06-30), 10-Q (reporting date: 2019-03-31).

Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets fluctuated notably over the analyzed period. Initially, it declined from 5.66% in early 2019 to around 3% mid-2019 before rising sharply to peak above 13% by early 2022. Subsequently, it exhibited volatility, declining to approximately 2.35% by mid-2023, then recovering above 9.5% at year-end 2023, with a modest decrease in mid-2024.
Receivable from the sale of IQOS System commercialization rights
This item appears only in the latest periods, constituting close to 4.7% of total assets during early to late 2023, indicating a recent addition of a new receivable category connected to IQOS commercialization rights.
Receivables
The share of receivables in total assets remained relatively stable around 0.27% to 0.32% through 2019 and 2020, then dipped sharply in late 2021 to less than 0.12%. From early 2022 onwards, a gradual upward trend is observable, reaching 0.25% by late 2024.
Leaf tobacco
The percentage of leaf tobacco within total assets fluctuated modestly around 1.5% to 1.9% across the entire period without a clear directional trend, showing minor decreases and increases reflecting consistent inventory management.
Other raw materials
This category showed a gradual increase over time, rising from about 0.32% in early 2019 to close to 0.58% by late 2023, with slight fluctuations but an overall upward movement suggesting increased raw material stock relative to assets.
Work in process
Work in process inventory declined significantly from early 2019 levels near 1.1% to values below 0.1% from late 2021 onward, indicating a sharp reduction or possible reclassification of this inventory component in recent years.
Finished product
The proportion of finished products demonstrated variability, initially decreasing from around 1% in 2019 to a low near 0.66% in late 2021, then partially recovering to above 1.1% by mid-2024, highlighting fluctuations in finished goods inventories.
Inventories (overall)
Overall inventories as a percentage of total assets hovered near 4% during 2019, dipped to lows around 2.86%-3.02% in late 2021, and then recovered gradually to approximately 3.4% by mid-2024, signifying moderate inventory shifts without distinct trends.
Income taxes
Income taxes as a proportion of assets appeared only from early 2023, with values fluctuating between 0.47% and 1.29%, indicating the emergence and variability of tax-related asset items in recent periods.
Assets held for sale
This classification emerged in mid-2021 at 3.77% and was not reported again, suggesting a one-time or short-term asset categorization.
Other current assets
The category exhibited considerable volatility, declining from around 0.67% in early 2019 to as low as 0.15% in late 2020, then rising irregularly to peak near 1.71% in late 2023 before decreasing to about 0.6% in mid-2024, demonstrating fluctuating non-specific current asset holdings.
Current assets (overall)
Current assets showed wide variation, from under 8% in mid-2019 to peaks exceeding 19.5% in late 2022. The periods of notably elevated current assets were interspersed with declines to as low as 9.3% in late 2023, indicating periodic liquidity increases and subsequent normalizations.
Property, plant, and equipment at cost
This asset class steadily increased from 8.3% in early 2019 through a series of moderate rises, reaching above 13% by late 2024, reflecting ongoing capital investment or revaluation efforts.
Accumulated depreciation
The accumulated depreciation values consistently increased in absolute terms (more negative relative to total assets), growing from -5.06% in early 2019 to -8.49% by late 2024, evidencing aging or usage of fixed assets over time.
Property, plant, and equipment net of depreciation
Net fixed assets generally followed an upward trend, rising from 3.24% in early 2019 to approximately 4.7% by late 2024, reflecting that increases in asset cost outweighed accumulated depreciation growth.
Goodwill
Goodwill as a share of total assets showed a consistent increase throughout the period, from 8.77% in early 2019 to surpass 20% by late 2024, signaling acquisitions or asset revaluations leading to significant goodwill accumulation.
Other intangible assets, net
This category also trended upward from around 20.8% in early 2019 to above 38% in late 2024 with some fluctuations, indicating increasing intangible asset values, possibly related to brand, patents, or licensing rights.
Investments in equity securities
Investments in equity securities as a proportion of total assets experienced a marked decline from above 54% in early 2019 to nearly 23.8% by late 2024, with periods of steep decreases, particularly around 2021 to 2022, suggesting divestitures or market value adjustments.
Other assets
Other non-specified assets remained relatively stable but low, fluctuating between roughly 1.5% and 2.9%, without clear trends, indicating minor but consistent asset components.
Non-current assets (overall)
Non-current assets as a proportion of total assets generally decreased from over 92% in early 2019 to around 80.5% in late 2022, followed by increases to near 90% by late 2024, illustrating shifting asset compositions between current and long-term categories across the timeline.
Summary
Over the analyzed timeframe, total assets distribution showed dynamic shifts between current and non-current components. Notably, cash equivalents, goodwill, and intangible assets increased their relative shares while investments in equity securities declined significantly. Inventories, receivables, and other current assets displayed volatility reflecting operational adjustments. Capital assets expanded steadily with corresponding rises in accumulated depreciation, indicating ongoing asset use and investment. The emergence of receivables related to IQOS and income tax assets in recent periods points to evolving business activities and accounting classifications. Overall, these patterns suggest active asset management, strategic acquisitions, and portfolio adjustments by the company.