CrowdStrike Holdings Inc., debt to equity, long-term trends, calculation

	Debt to equity	=	Long-term debt¹	÷	Total CrowdStrike Holdings, Inc. stockholders’ equity¹
Jan 31, 2026	0.17	=	745,471)	÷	4,428,390)
Jan 31, 2025	0.23	=	743,983)	÷	3,279,494)
Jan 31, 2024	0.32	=	742,494)	÷	2,303,950)
Jan 31, 2023	0.51	=	741,005)	÷	1,463,641)
Jan 31, 2022	0.72	=	739,517)	÷	1,025,764)
Jan 31, 2021	0.85	=	738,029)	÷	870,574)
Jan 31, 2020	0.00	=	—)	÷	742,107)

Based on: 10-K (reporting date: 2026-01-31), 10-K (reporting date: 2025-01-31), 10-K (reporting date: 2024-01-31), 10-K (reporting date: 2023-01-31), 10-K (reporting date: 2022-01-31), 10-K (reporting date: 2021-01-31), 10-K (reporting date: 2020-01-31).

¹ US$ in thousands

The relationship between long-term debt and total stockholders’ equity has demonstrated a consistent shift over the observed period. A clear downward trend in the debt-to-equity ratio is apparent, indicating a strengthening financial position relative to debt obligations.

Long-Term Debt: Long-term debt remained relatively stable between 2021 and 2026, experiencing incremental increases each year. The values ranged from US$738,029 thousand to US$745,471 thousand. This suggests a consistent, but not aggressive, reliance on long-term borrowing.
Total Stockholders’ Equity: Total stockholders’ equity exhibited substantial growth throughout the period. Beginning at US$742,107 thousand in 2020, it increased to US$4,428,390 thousand by 2026. This growth significantly outpaced the comparatively modest increases in long-term debt.
Debt-to-Equity Ratio: The debt-to-equity ratio decreased consistently from 0.85 in 2021 to 0.17 in 2026. This decline signifies a decreasing reliance on debt financing as a proportion of equity. The most substantial decrease occurred between 2022 and 2023, moving from 0.51 to 0.32, and continued at a similar pace through 2026. This suggests improved financial leverage and a stronger equity base supporting the company’s operations.

The observed trend suggests the company is becoming less reliant on debt to finance its assets and operations, which is generally viewed as a positive indicator of financial health. The consistent growth in equity, coupled with stable debt levels, contributes to this improved financial profile.

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CrowdStrike Holdings Inc., debt to equity, long-term trends, comparison to competitors

	CrowdStrike Holdings Inc.	Accenture PLC	Adobe Inc.	AppLovin Corp.	Cadence Design Systems Inc.	Datadog Inc.	International Business Machines Corp.	Intuit Inc.	Microsoft Corp.	Oracle Corp.	Palantir Technologies Inc.	Palo Alto Networks Inc.	Salesforce Inc.	ServiceNow Inc.	Synopsys Inc.	Workday Inc.
Jan 31, 2026	0.17	—	—	—	—	—	—	—	0.24	3.05	—	—	0.25	—	—	0.38
Jan 31, 2025	0.23	0.17	0.53	1.65	0.45	0.26	1.88	0.30	0.26	4.53	0.00	0.00	0.15	0.12	0.48	0.33
Jan 31, 2024	0.32	0.04	0.40	3.22	0.53	0.59	2.01	0.33	0.29	9.98	0.00	0.19	0.17	0.15	0.00	0.37
Jan 31, 2023	0.51	0.01	0.22	2.48	0.19	0.37	2.51	0.35	0.31	84.33	0.00	1.14	0.20	0.20	0.00	0.53
Jan 31, 2022	0.72	0.00	0.29	1.69	0.27	0.52	2.32	0.42	0.39	—	0.00	17.51	0.19	0.30	0.00	0.41
Jan 31, 2021	0.85	0.00	0.28	1.51	0.13	0.71	2.74	0.21	0.50	16.08	0.00	5.08	0.07	0.43	0.02	0.55
Jan 31, 2020	0.00	0.00	0.31	—	0.14	0.60	2.99	0.66	0.62	5.93	0.13	2.80	0.09	0.58	0.03	0.51