Balance Sheet: Assets
Quarterly Data
The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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Pfizer Inc. pages available for free this week:
- Cash Flow Statement
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Net Profit Margin since 2005
- Debt to Equity since 2005
- Price to Book Value (P/BV) since 2005
- Analysis of Debt
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Pfizer Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 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).
The analysis of the quarterly data reveals several noteworthy trends and patterns across various financial items. Overall, the company's total assets show variability over the periods, with a peak around late 2023 and a slight decline afterward. This fluctuation correlates with changes observed in specific asset categories.
- Cash and Cash Equivalents
- The cash reserves have demonstrated volatility, with values ranging from a high of over 3100 million USD near late 2023 to lows below 500 million USD at times in 2022. There is no clear steady upward or downward trend, suggesting recurrent fluctuations in liquidity management.
- Short-term and Restricted Short-term Investments
- Short-term investments have experienced significant expansion, peaking above 42000 million USD around mid-2023, before markedly decreasing to under 16000 million USD by mid-2025. Restricted short-term investments were reported only for a brief period in 2020 and then not recorded, indicating possible changes in classification or portfolio strategy.
- Trade Accounts Receivable, Net
- Trade receivables show an overall increasing trend, rising from approximately 7900 million USD at the end of 2020 to over 14000 million USD in early 2024. This increase may indicate growing sales or lengthening collection periods, reflecting more significant revenue generation or potential credit extension.
- Inventories
- Inventory levels remained relatively stable over the analyzed period, fluctuating around 8000 to 11500 million USD. The modest upward trend toward recent quarters suggests a possible preparation for anticipated demand or stockpiling.
- Current Tax Assets and Other Current Assets
- Current tax assets have shown uneven changes but generally range between approximately 2500 and 4300 million USD without pronounced trends. Other current assets presented a slight downward movement in recent periods after peaking above 6000 million USD, potentially indicating an optimization of short-term asset management.
- Current Assets (Aggregated)
- Current assets have experienced significant variation, including a peak near 74000 million USD in mid-2023 followed by a notable decrease afterward. This pattern correlates closely with the fluctuations seen in short-term investments and cash balances.
- Equity-method Investments
- These investments have declined markedly over the period, dropping from above 16000 million USD in 2020 to about 200 million USD by mid-2025, suggesting divestitures, impairments, or reclassification away from the equity method.
- Long-term Investments
- Long-term investments show a general downward trend from approximately 5200 million USD to below 1800 million USD, consistent with a possible strategic shift in asset allocation or portfolio reduction.
- Property, Plant, and Equipment (Net)
- Investment in fixed assets has steadily increased, from roughly 14000 million USD to a peak near 19000 million USD, reflecting ongoing capital expenditures or asset enhancements supporting long-term operational capacity.
- Identifiable Intangible Assets (Net)
- Intangible assets decreased significantly from over 34000 million USD to a low near 25000 million USD around 2021, followed by a sharp increase to almost 65000 million USD in late 2023, then tapering off. This suggests major acquisitions or revaluations occurring in that timeframe.
- Goodwill
- Goodwill values were relatively stable, trending slightly downward initially, then rising sharply to over 68000 million USD near the end of 2023, remaining elevated afterwards. Such shifts typically align with acquisitions or goodwill impairment assessments.
- Noncurrent Deferred Tax Assets and Other Noncurrent Tax Assets
- These assets exhibited a gradual increase with several fluctuations, increasing from around 2200 million USD to over 9500 million USD, indicating changes in tax positions or deferred tax recognitions over time.
- Other Noncurrent Assets
- Other noncurrent assets varied with oscillations, reaching a peak above 13000 million USD in early 2023 before declining to around 9800 million USD by mid-2025, suggesting shifts in long-term asset composition or disposals.
- Noncurrent Assets (Aggregate)
- Noncurrent assets overall displayed an upward trajectory, especially noticeable with a steep rise near 183000 million USD in late 2023, followed by a gradual decrease. This pattern is consistent with the simultaneous growth seen in intangible assets and goodwill.
- Total Assets
- Total assets increased substantially from approximately 154000 million USD at year-end 2020 to peak over 226000 million USD in 2023, then experienced a moderate decline to around 208000 million USD by mid-2025. This progression reflects the combined impact of changes across both current and noncurrent assets.
In summary, the data indicate strategic shifts including expansion and later reduction in investment portfolios, increased capital expenditures, significant acquisitions resulting in increased intangible assets and goodwill, and fluctuating liquidity and working capital components. These trends suggest active asset management and potential restructuring influencing the overall financial position across the observed quarters.