Stock Analysis on Net

Pfizer Inc. (NYSE:PFE)

$24.99

Common-Size Balance Sheet: Assets
Quarterly Data

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

Microsoft Excel
Sep 28, 2025 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
Short-term investments
Restricted short-term investments
Trade accounts receivable, net of allowance for doubtful accounts
Inventories
Current tax assets
Other current assets
Current assets
Long-term investments
Property, plant and equipment, net of accumulated depreciation
Identifiable intangible assets, net
Goodwill
Noncurrent deferred tax assets and other noncurrent tax assets
Other noncurrent assets
Noncurrent assets
Total assets

Based on: 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), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-27), 10-Q (reporting date: 2020-06-28), 10-Q (reporting date: 2020-03-29).


Cash and cash equivalents
The proportion of cash and cash equivalents relative to total assets has exhibited fluctuations over the observed periods, generally ranging between approximately 0.2% and 1.5%. There is a notable dip to around 0.21% near the end of 2022, followed by a recovery to above 1% in early 2023, and then a decline again towards mid-2024. This indicates variability in the immediate liquid asset holdings as a share of total assets.
Short-term investments
Short-term investments as a percentage of total assets have shown significant volatility. Starting near 5%, they rose sharply to over 19% in mid-2023, followed by a steep decline to levels between 2.8% and 7.6% in 2024 and 2025. This pattern suggests strategic shifts in investment positions with a focus on short-term liquidity at times, but a reduction thereafter.
Trade accounts receivable, net
Trade accounts receivable relative to total assets remained fairly stable within a band of about 4.6% to 8.3%, with a slight upward trend observed in most recent periods, moving from around 4.9% to nearly 6.8%. This reflects a moderate increase in credit extended to customers or possibly timing differences in collections.
Inventories
Inventory levels as a percentage of assets were relatively steady throughout, fluctuating mildly in a range of approximately 4.5% to 5.6%. There were no extreme variations, denoting consistent inventory management in proportion to the asset base.
Current tax assets
The share of current tax assets declined somewhat from around 2.0% in early 2020 to levels near 1.3%-1.5% in late 2022, with intermittent increases afterward, reaching close to 1.9% in mid-2024. This fluctuation may be influenced by periodic tax recoverable balances or adjustments in tax planning.
Other current assets
Other current assets exhibited a gradual increase in the first part of the timeline, reaching above 3% at some points, before trending downward to below 1.5% by late 2025. This trend suggests a potential reclassification or reduction in miscellaneous current asset components.
Current assets (overall)
Current assets as a category showed significant variability, fluctuating between roughly 17.5% and 36.2% of total assets. Peaks occurred around late 2021 through mid-2023, indicating periods of higher liquidity or short-term resources, followed by a decrease to values near 19%-22% in 2024-2025. This reflects shifts in working capital management.
Long-term investments
There is a clear downward trajectory in long-term investments over the time span, starting at approximately 11% and declining to very low levels near 1% by 2025. This suggests a substantial divestiture or reclassification of long-term investment holdings.
Property, plant and equipment, net
The proportion of property, plant, and equipment displayed minor fluctuations between about 7.8% and 9.1%, maintaining a relatively stable share of total assets. This stability indicates consistent investment or depreciation patterns in fixed assets.
Identifiable intangible assets, net
Intangible assets as a percentage of total assets showed some variability, ranging mainly between 13.9% and 28.7%. After a decline during 2020-2021, there was a marked increase around late 2022 and early 2023, reaching near 28%, before moderately declining toward the end of the period. This may reflect acquisitions or revaluations of intangible assets followed by amortization or disposals.
Goodwill
Goodwill remained the largest single component of total assets, generally ranging from 23% to 35%. A decline was observed from early 2020 to late 2021, followed by an increase peaking around 33% in 2025. The fluctuations in goodwill likely correspond to acquisition activity and impairment assessments.
Noncurrent deferred tax assets and other noncurrent tax assets
This category exhibited a steady increase overall, beginning at around 1.3% and rising to over 5% by mid-2025. The gradual increase indicates accumulating deferred tax assets or growth in longer-term tax recoverables.
Other noncurrent assets
Other noncurrent assets rose initially from about 2.4% to over 6.6% near late 2022, then declined to around 4.4%-4.7% in the most recent periods. This may suggest changes in asset classification or disposals in long-term miscellaneous assets.
Noncurrent assets (overall)
Noncurrent assets as a percentage of total assets fluctuated between approximately 63.8% and 82.5%, with a notable dip in the 2023 timeframe and a recovery afterward. This pattern suggests movements between current and noncurrent asset classifications, driven by investment, amortization, and other noncurrent asset activity.