Common-Size Balance Sheet: Assets
Quarterly Data
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Pfizer Inc. pages available for free this week:
- Balance Sheet: Assets
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Debt to Equity since 2005
- Total Asset Turnover since 2005
- Price to Earnings (P/E) since 2005
- Analysis of Debt
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Based on: 10-K (reporting date: 2025-12-31), 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).
The composition of assets for the observed period reveals several noteworthy trends. Current assets, as a percentage of total assets, exhibited volatility, peaking at 36.22% in October 2022 before declining to 20.61% by December 2025. Conversely, noncurrent assets generally comprised the majority of the asset base, fluctuating between approximately 63.78% and 82.50% over the analyzed timeframe.
- Liquidity – Current Assets
- Within current assets, cash and cash equivalents remained relatively stable, generally between 0.33% and 1.46% of total assets, with a notable decrease towards the end of the period. Short-term investments demonstrated significant fluctuation, peaking at 19.15% in July 2023, but declining substantially to 5.98% by December 2025. Trade accounts receivable showed a general upward trend from 4.65% in April 2023 to 6.83% in September 2025, suggesting potential changes in credit terms or sales patterns. Inventories remained relatively consistent, fluctuating between 4.50% and 5.66% of total assets. Current tax assets experienced a decline from 2.35% in December 2021 to 1.91% in December 2025, while other current assets showed a decreasing trend over the period.
Long-term investments decreased from 12.74% in April 2021 to 0.78% in December 2025, indicating a potential shift in investment strategy or liquidation of assets. Property, plant, and equipment remained a consistent component, ranging from 7.81% to 9.28% of total assets, with a slight upward trend towards the end of the period. Identifiable intangible assets exhibited considerable variation, increasing from 13.86% in December 2021 to 28.65% in December 2023, before decreasing to 25.81% in December 2025. Goodwill consistently represented a substantial portion of the asset base, fluctuating between 23.96% and 34.24%.
- Noncurrent Assets – Tax & Other
- Noncurrent deferred tax assets and other noncurrent tax assets showed an increasing trend, rising from 1.60% in April 2021 to 5.29% in September 2025. Other noncurrent assets also demonstrated an upward trend, increasing from 2.99% to 4.63% over the same period. These increases suggest potential changes in tax planning or the accumulation of long-term assets.
Overall, the asset composition demonstrates a shift away from liquid assets and long-term investments towards intangible assets and goodwill, alongside increasing noncurrent tax assets. The fluctuations observed suggest active asset management and potential strategic adjustments throughout the analyzed period.