Merck & Co. Inc.、合并资产负债表结构：负债和股东权益（季度数据）
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2025年6月30日 |
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2025年3月31日 |
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2024年12月31日 |
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2024年9月30日 |
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2024年6月30日 |
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2024年3月31日 |
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2023年12月31日 |
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2023年9月30日 |
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2023年6月30日 |
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2023年3月31日 |
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2022年12月31日 |
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2022年9月30日 |
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2022年6月30日 |
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2022年3月31日 |
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2021年12月31日 |
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2021年9月30日 |
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2021年6月30日 |
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2021年3月31日 |
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2020年12月31日 |
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2020年9月30日 |
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2020年6月30日 |
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2020年3月31日 |
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应付贷款和长期债务的流动部分 |
1.22% | |
1.18% | |
2.26% | |
2.68% | |
2.73% | |
2.91% | |
1.29% | |
0.83% | |
2.72% | |
2.48% | |
1.78% | |
1.81% | |
2.78% | |
1.13% | |
2.28% | |
3.78% | |
2.74% | |
7.98% | |
7.02% | |
2.69% | |
5.21% | |
7.49% | |
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贸易应付账款 |
3.31% | |
3.29% | |
3.48% | |
3.05% | |
3.12% | |
3.32% | |
3.68% | |
3.29% | |
3.29% | |
3.41% | |
3.91% | |
3.15% | |
3.25% | |
3.48% | |
4.36% | |
3.60% | |
4.30% | |
4.44% | |
5.02% | |
4.17% | |
3.81% | |
4.21% | |
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应计负债和其他流动负债 |
12.34% | |
11.09% | |
13.40% | |
14.07% | |
13.06% | |
13.32% | |
14.78% | |
13.90% | |
13.16% | |
12.06% | |
12.97% | |
13.28% | |
12.61% | |
13.17% | |
13.11% | |
15.20% | |
14.21% | |
13.11% | |
14.25% | |
13.02% | |
12.34% | |
12.87% | |
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应交所得税 |
3.54% | |
4.50% | |
3.34% | |
3.68% | |
2.47% | |
2.27% | |
2.48% | |
1.86% | |
1.43% | |
1.74% | |
1.82% | |
1.59% | |
1.34% | |
1.47% | |
1.16% | |
1.02% | |
1.07% | |
1.64% | |
1.72% | |
1.10% | |
1.40% | |
1.22% | |
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应付股利 |
1.75% | |
1.80% | |
1.78% | |
1.69% | |
1.76% | |
1.90% | |
1.86% | |
1.76% | |
1.80% | |
1.77% | |
1.73% | |
1.65% | |
1.65% | |
1.66% | |
1.67% | |
1.78% | |
1.83% | |
1.84% | |
1.83% | |
1.74% | |
1.73% | |
1.87% | |
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流动负债 |
22.15% |
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21.87% |
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24.27% |
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25.17% |
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23.14% |
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23.71% |
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24.09% |
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21.64% |
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22.39% |
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21.46% |
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22.21% |
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21.48% |
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21.63% |
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20.92% |
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22.59% |
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25.38% |
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24.16% |
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29.02% |
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29.84% |
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22.72% |
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24.47% |
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27.66% |
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长期债务，不包括流动部分 |
28.90% | |
29.09% | |
29.43% | |
29.76% | |
30.82% | |
29.42% | |
31.58% | |
31.83% | |
32.61% | |
26.04% | |
26.33% | |
26.60% | |
26.78% | |
28.67% | |
29.04% | |
24.50% | |
26.50% | |
26.42% | |
27.69% | |
29.31% | |
28.86% | |
25.48% | |
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递延所得税 |
1.21% | |
1.22% | |
1.18% | |
0.74% | |
0.78% | |
0.87% | |
0.82% | |
0.95% | |
0.95% | |
1.34% | |
1.64% | |
2.26% | |
2.78% | |
2.88% | |
3.26% | |
1.63% | |
1.64% | |
1.33% | |
1.11% | |
1.98% | |
2.31% | |
2.29% | |
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其他非流动负债 |
5.98% | |
5.78% | |
5.52% | |
6.42% | |
6.51% | |
7.81% | |
8.24% | |
6.88% | |
6.95% | |
7.65% | |
7.62% | |
8.09% | |
8.36% | |
9.13% | |
8.93% | |
10.13% | |
10.89% | |
13.47% | |
13.63% | |
13.39% | |
13.74% | |
13.60% | |
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非流动负债 |
36.10% |
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36.09% |
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36.13% |
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36.91% |
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38.11% |
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38.10% |
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40.63% |
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39.66% |
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40.52% |
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35.03% |
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35.60% |
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36.94% |
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37.92% |
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40.69% |
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41.22% |
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36.26% |
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39.03% |
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41.22% |
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42.43% |
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44.68% |
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44.91% |
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41.37% |
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负债合计 |
58.25% |
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57.96% |
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60.40% |
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62.09% |
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61.25% |
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61.81% |
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64.72% |
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61.30% |
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62.92% |
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56.49% |
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57.81% |
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58.42% |
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59.55% |
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61.61% |
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63.80% |
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61.64% |
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63.18% |
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70.24% |
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72.26% |
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67.41% |
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69.38% |
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69.03% |
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普通股，面值 0.50 美元 |
1.52% | |
1.55% | |
1.53% | |
1.52% | |
1.59% | |
1.69% | |
1.68% | |
1.68% | |
1.71% | |
1.66% | |
1.64% | |
1.67% | |
1.67% | |
1.68% | |
1.69% | |
1.91% | |
1.97% | |
1.97% | |
1.95% | |
1.99% | |
1.97% | |
2.11% | |
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其他实收资本 |
37.99% | |
38.93% | |
38.17% | |
37.89% | |
39.39% | |
42.13% | |
41.72% | |
41.56% | |
42.33% | |
41.25% | |
40.66% | |
41.32% | |
41.19% | |
41.51% | |
41.85% | |
47.22% | |
48.56% | |
43.60% | |
43.22% | |
43.97% | |
43.45% | |
46.75% | |
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留存收益 |
58.27% | |
57.41% | |
53.86% | |
52.23% | |
53.44% | |
53.56% | |
50.52% | |
53.48% | |
51.88% | |
57.55% | |
55.96% | |
55.97% | |
54.57% | |
52.74% | |
50.80% | |
55.29% | |
53.79% | |
53.81% | |
51.71% | |
56.91% | |
54.87% | |
56.85% | |
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累计其他综合亏损 |
-4.61% | |
-4.31% | |
-4.22% | |
-4.57% | |
-4.76% | |
-4.98% | |
-4.84% | |
-4.61% | |
-4.69% | |
-4.53% | |
-4.37% | |
-4.43% | |
-4.04% | |
-4.10% | |
-4.19% | |
-4.91% | |
-5.10% | |
-7.29% | |
-7.24% | |
-7.11% | |
-7.06% | |
-7.53% | |
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库存股，按成本计算 |
-51.48% | |
-51.60% | |
-49.79% | |
-49.20% | |
-50.96% | |
-54.27% | |
-53.86% | |
-53.47% | |
-54.19% | |
-52.49% | |
-51.75% | |
-53.00% | |
-53.01% | |
-53.50% | |
-54.03% | |
-61.23% | |
-62.50% | |
-62.44% | |
-62.00% | |
-63.27% | |
-62.74% | |
-67.32% | |
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Merck & Co.， Inc.股东权益合计 |
41.69% |
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41.99% |
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39.55% |
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37.86% |
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38.69% |
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38.13% |
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35.23% |
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38.65% |
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37.04% |
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43.45% |
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42.13% |
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41.52% |
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40.38% |
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38.33% |
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36.13% |
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38.28% |
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36.71% |
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29.66% |
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27.64% |
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32.50% |
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30.50% |
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30.86% |
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非控制性权益 |
0.06% | |
0.06% | |
0.05% | |
0.05% | |
0.06% | |
0.06% | |
0.05% | |
0.05% | |
0.05% | |
0.07% | |
0.06% | |
0.06% | |
0.07% | |
0.07% | |
0.07% | |
0.07% | |
0.10% | |
0.10% | |
0.09% | |
0.09% | |
0.11% | |
0.11% | |
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权益合计 |
41.75% |
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42.04% |
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39.60% |
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37.91% |
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38.75% |
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38.19% |
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35.28% |
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38.70% |
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37.08% |
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43.51% |
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42.19% |
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41.58% |
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40.45% |
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38.39% |
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36.20% |
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38.36% |
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36.82% |
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29.76% |
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27.74% |
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32.59% |
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30.62% |
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30.97% |
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负债和权益合计 |
100.00% |
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100.00% |
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100.00% |
|
100.00% |
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100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
|
100.00% |
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根据报告：
10-Q (报告日期： 2025-06-30), 10-Q (报告日期： 2025-03-31), 10-K (报告日期： 2024-12-31), 10-Q (报告日期： 2024-09-30), 10-Q (报告日期： 2024-06-30), 10-Q (报告日期： 2024-03-31), 10-K (报告日期： 2023-12-31), 10-Q (报告日期： 2023-09-30), 10-Q (报告日期： 2023-06-30), 10-Q (报告日期： 2023-03-31), 10-K (报告日期： 2022-12-31), 10-Q (报告日期： 2022-09-30), 10-Q (报告日期： 2022-06-30), 10-Q (报告日期： 2022-03-31), 10-K (报告日期： 2021-12-31), 10-Q (报告日期： 2021-09-30), 10-Q (报告日期： 2021-06-30), 10-Q (报告日期： 2021-03-31), 10-K (报告日期： 2020-12-31), 10-Q (报告日期： 2020-09-30), 10-Q (报告日期： 2020-06-30), 10-Q (报告日期： 2020-03-31).
从该时间段的财务数据来看，公司整体负债结构和权益构成展现出一定的变化趋势。首先，流动负债所占比例呈现波动，但总体来说在20%至30%之间，有一定的波动性。这反映出公司在短期偿债安排上存在一定调整，同时，流动部分应付贷款比例逐步下降，显示出公司在逐步优化短期负债结构，增强短期偿付能力。
长期债务（不包括流动部分）在总负债中的占比大体保持在26%至30%之间，整体稳定且略有上升。这表明公司在逐渐扩展其长期融资渠道，减少对短期债务的依赖，可能是为了降低偿债压力或融资成本的策略调整。此外，递延所得税和其他非流动负债的比例基本保持稳定，显示非流动负债结构没有剧烈变化，财务杠杆水平较为稳定。
关于权益结构，普通股和其他实收资本的比例在逐渐降低，但留存收益所占比例逐渐增加，整体来看，公司的权益结构正向积累内部收益和扩大股东权益的方向发展。具体而言，股东权益合计比例由约30.86%上升至约41.69%，表现出公司利润累积和资本积累的趋势明显提升，增强了财务稳健性。
库存股的比例总体呈上升趋势，特别是在2023年后，其占比明显增加，接近或超过一半。这可能反映公司进行股票回购以提升股价或改善每股指标的战略，表明管理层倾向于通过股票回购以提振投资者信心或调整资本结构，减少股东权益的稀释压力。
在负债与权益比率方面，负债整体比例在60%左右波动，权益比例逐步提升，明显显示公司在逐步增强自身资本基础，降低财务杠杆风险。同时，公司的权益比重逐步提升，意味着财务结构逐步向稳健方向调整，降低了偿债压力和财务风险。
综上所述，该公司在财务结构方面表现出逐步向稳健、优化资本结构的趋势，通过减少短期负债、增加股东权益、实施股票回购等策略，有助于增强长期财务稳定性和盈利能力。同时，公司在保持一定的流动性与财务灵活性的基础上，逐步调整债务结构，显现出稳健扩张和资本管理的策略取向。
