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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Thermo Fisher Scientific Inc. pages available for free this week:
- Income Statement
- Statement of Comprehensive Income
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Short-term (Operating) Activity Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to FCFE (P/FCFE)
- Dividend Discount Model (DDM)
- Return on Equity (ROE) since 2005
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Thermo Fisher Scientific Inc., consolidated balance sheet: assets (quarterly data)
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-27), 10-Q (reporting date: 2025-06-28), 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).
The asset composition of the company exhibits notable fluctuations over the analyzed period, spanning from April 2021 to June 2025. Current assets demonstrate a cyclical pattern, peaking in October 2021 and again in December 2022, followed by a substantial increase in December 2025. Long-term assets generally trend upward, with a significant surge in December 2021, though this is followed by a period of relative stabilization before increasing again towards the end of the period.
- Cash and Cash Equivalents
- Cash and cash equivalents experienced considerable volatility. A substantial increase is observed between April 2021 and October 2021, followed by a sharp decline by December 2021. The balance then recovers significantly in December 2022, before decreasing again through the subsequent quarters. A notable increase is seen in December 2025, suggesting a potential shift in liquidity management or significant cash inflows.
- Short-Term Investments
- Short-term investments are largely absent until December 2021, after which they are consistently present, albeit with fluctuations. The balance remains relatively stable between April 2022 and September 2024, before decreasing significantly in December 2025.
- Accounts Receivable
- Accounts receivable demonstrate a generally upward trend throughout the period, with consistent growth from April 2021 to September 2025. While fluctuations occur, the overall trajectory indicates increasing sales on credit or extended payment terms. A slight decrease is observed in December 2025.
- Inventories
- Inventory levels exhibit a moderate increase from April 2021 to October 2022, followed by a slight decline. The balance remains relatively stable between April 2023 and September 2024, before increasing again in June 2025. This suggests a generally consistent inventory management approach with minor adjustments based on demand.
- Contract Assets
- Contract assets show a consistent upward trend throughout the analyzed period, indicating a growing volume of revenue recognized over time. The increase is particularly pronounced between April 2021 and September 2025, suggesting an expansion of long-term contracts or projects.
- Goodwill and Intangible Assets
- Goodwill experiences a significant increase in December 2021, likely due to acquisitions. While it fluctuates in subsequent periods, it generally remains high. Acquisition-related intangible assets also show a similar pattern, peaking in December 2021 and remaining substantial throughout the period, indicating continued investment in and valuation of acquired assets.
- Property, Plant, and Equipment
- Property, plant, and equipment, net, demonstrate a steady upward trend, indicating ongoing investment in fixed assets. The growth is relatively consistent throughout the period, suggesting a sustained commitment to expanding operational capacity.
- Total Assets
- Total assets follow the combined trends of current and long-term assets. A significant increase is observed in December 2021, followed by a period of stabilization and then renewed growth towards the end of the period, culminating in a substantial increase in December 2025. This suggests overall company expansion and investment.
Overall, the asset structure indicates a company undergoing growth and strategic investment, particularly through acquisitions as evidenced by the fluctuations in goodwill and intangible assets. The cyclical nature of current assets suggests active liquidity management, while the consistent growth in accounts receivable and contract assets points to increasing revenue streams. The sustained investment in property, plant, and equipment indicates a long-term commitment to operational expansion.