AstraZeneca's balance sheet reflects a strong capital position with Total Assets standing at $115,833 million. The non-current asset base of $87,868 million is heavily characterized by long-term strategic investments, including $37,723 million in Intangible Assets, $21,181 million in Goodwill, and $13,615 million in Property, Plant & Equipment. Current Assets total $27,965 million and provide operational liquidity through $14,330 million in Receivables, $6,932 million in Inventories, and $4,893 million held in Cash & Cash Equivalents.
On the liabilities side, Total Liabilities reached $65,463 million, split between $31,553 million in Current Liabilities and $33,910 million in Non-Current Liabilities. Total Equity closed the period at $50,370 million, which is composed of $50,295 million in Equity Attributable to the Parent company and $75 million in Non-Controlling Interests.
Key Financial Metrics
- Book Value Per Share (BVPS): $32.45.
- Liquidity & Working Capital.
- Current Ratio: 0.89x.Quick Ratio: 0.67x.
- Working Capital: -$3,588 million.
- Gross Debt: $32,239 million.
- Net Debt: $26,912 million.
- Gross Debt-to-Equity: 0.64x (64.0%).
- Net Debt-to Equity: 0.53x (53.4%).
- Interest Coverage Ratio: 15.86x.
- Return on Equity (ROE - H1): 11.1% (~22.2% Annualized).
- Return on Assets (ROA - H1): 4.8% (~9.6% Annualized).
- Sales to Assets (Asset Turnover - H1): 0.26x (~0.53x Annualized).
Key Valuation Takeaways :
- Core P/E ratio: 13.5x–14.5x.
- PEG ratio: 1.1x–1.3x, suggesting the share price is fairly valued relative to earnings growth.
- Enterprise Value: approximately $217 billion, based on a $190 billion market capitalization, $26.9 billion net debt, and $75 million non-controlling interest.
- EV/EBITDA: about 10.1x, using annualized EBITDA of $21.4 billion, indicating an attractive valuation.
AstraZeneca reconfirmed its full-year 2026 financial guidance at constant exchange rates, projecting Total Revenue to grow by a mid-to-high single-digit percentage and Core EPS to increase by a low double-digit percentage, supported by an expected Core Tax rate between 18% and 22%. Assuming foreign exchange rates from mid-2026 remain steady, favorable currency movements are anticipated to add a low single-digit percentage benefit to full-year revenue.