Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
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- Balance Sheet: Liabilities and Stockholders’ Equity
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Capital Asset Pricing Model (CAPM)
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2005
- Analysis of Revenues
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Solvency Ratios (Summary)
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
- Debt to Equity Ratios
- The debt to equity ratio generally remained very low and stable, fluctuating slightly around zero from early 2019 through early 2024, indicating minimal reliance on debt financing relative to equity. However, an abrupt increase occurred starting January 2025, with the ratio rising significantly to 1.01 and 0.52 in subsequent quarters, signaling a marked increase in debt relative to equity toward the end of the period.
- Debt to Equity Including Operating Lease Liability
- This ratio showed a similar pattern but at higher levels, reflecting the inclusion of operating lease liabilities as debt. From 2019 until early 2024, it generally hovered around 0.07 to 0.14, illustrating moderate leverage when lease obligations are considered. It then spiked sharply in 2025 to 1.08 and subsequently decreased slightly to 0.55, mirroring the trend in the basic debt to equity ratio but at elevated levels due to operating leases.
- Debt to Capital Ratios
- Debt to capital remained low for most of the period, close to zero after 2020. Including operating lease liability, it fluctuated moderately around 0.10 to 0.17 from 2019 to early 2024, indicating a modest proportion of debt in the company's capital structure when leases are accounted for. Similar to other metrics, early 2025 showed a considerable rise, reaching 0.50 and 0.34 for the basic ratio and 0.52 and 0.35 for the adjusted ratio, indicating increased leverage in the capital base in recent quarters.
- Debt to Assets Ratios
- The debt to assets ratio was minimal throughout the majority of the timeline, dropping to nearly zero post-2020. When operating lease liabilities were included, the ratio was higher, stable around 0.05 to 0.12, highlighting the impact of lease obligations on the leverage against total assets. Like other leverage measures, this metric experienced a pronounced increase in 2025, with values rising to approximately 0.42 and 0.30, showing a sharper rise in debt exposure relative to the asset base at the end of the timeline.
- Financial Leverage
- Financial leverage ratios were fairly stable, ranging mostly between 1.4 and 1.7 over the years, suggesting consistent use of financial leverage without major fluctuations. An exception occurs in 2025, where the ratio spikes notably to 2.4 before settling back towards 1.75, reflecting an increase in the use of debt or reduction in equity capitalization during this period.
- Interest Coverage
- Interest coverage data is only available for the final two quarters, indicating a significant drop from 15.86 to 5.98. This decrease suggests a diminished capacity to cover interest expenses with operating earnings in the latest period, which may relate to the increased debt levels observed concurrently.
Debt Ratios
Coverage Ratios
Debt to Equity
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
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Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Total Synopsys stockholders’ equity | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to equity1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to equity = Total debt ÷ Total Synopsys stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
The financial data reflects significant trends in debt, equity, and leverage ratios over the analyzed periods. A detailed examination reveals the following key observations:
- Total Debt
- The total debt exhibits a fluctuating pattern initially, starting at approximately $542 million in January 2019 and sharply declining over the next year to around $21 million by October 2022. From January 2023 onward, there is a remarkable escalation in total debt, reaching values exceeding $10 billion in July 2025. This sharp rise indicates a drastic change in the company's financing structure or possible acquisitions or investments requiring substantial borrowing.
- Total Stockholders’ Equity
- The equity base grows steadily throughout the entire period. Beginning at roughly $3.78 billion in January 2019, the equity consistently increases each quarter, reaching nearly $27.6 billion by July 2025. This progressive growth in equity suggests sustained profitability, retained earnings accumulation, or equity infusions enhancing the company's net worth.
- Debt to Equity Ratio
- The debt to equity ratio follows a downward trend from 0.14 in January 2019 to negligible values around 0 between January 2022 and April 2024, indicating a strong reduction in leverage and improved financial stability. However, a notable reversal occurs in the last few periods with an abrupt increase to 1.01 by July 2025, reflecting a sharp increase in debt relative to equity. This shift highlights a potential change in the company's capital structure strategy or heightened financial risk exposure.
Overall, the period from 2019 to early 2024 is characterized by deleveraging and steady equity growth, suggesting conservative financial policy and strengthening balance sheet health. The sharp rise in debt and consequent increase in leverage starting in 2024 point to significant strategic developments that warrant further investigation to understand the underlying drivers and risks.
Debt to Equity (including Operating Lease Liability)
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
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Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Current operating lease liabilities | |||||||||||||||||||||||||||||||||||
Long-term operating lease liabilities | |||||||||||||||||||||||||||||||||||
Total debt (including operating lease liability) | |||||||||||||||||||||||||||||||||||
Total Synopsys stockholders’ equity | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to equity (including operating lease liability)1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Synopsys stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
- Total Debt (including operating lease liability)
- Over the observed period, total debt shows significant fluctuations. Initially, debt decreased substantially from 541,870 thousand to 137,707 thousand between January 2019 and October 2019. This was followed by a sharp increase peaking at 858,518 thousand in January 2020. From early 2020 through early 2024, the debt remained relatively stable within a range of approximately 580,000 to 690,000 thousand, showing minor volatility without a clear upward or downward trend. However, there is an extraordinary spike in mid-2025, where debt escalates dramatically to 10,742,251 thousand and further to 15,140,314 thousand by late 2025, a level markedly higher than all preceding quarters.
- Total Synopsys Stockholders’ Equity
- Stockholders’ equity generally demonstrates a steady upward trajectory throughout the timeframe. Starting at 3,778,802 thousand in early 2019, equity increases moderately across successive quarters with incremental gains reflecting ongoing capital growth. This stable growth trend continues robustly into the first quarter of 2025, culminating in a substantial equity value of 27,614,531 thousand. The marked jump in equity aligns temporally with the sharp increase in total debt observed in 2025, indicating potential significant capital infusion or valuation adjustments during that period.
- Debt to Equity Ratio (including operating lease liability)
- The debt to equity ratio exhibits considerable variation aligned with movements in debt and equity levels. Early in the period, the ratio is relatively low, falling from 0.14 to 0.03 by late 2019, reflecting the substantial debt reduction combined with a growing equity base. The ratio then rises to a peak of 0.21 in January 2020 alongside the spike in debt, before stabilizing around 0.11 to 0.12 through 2021 to early 2024. This indicates a balanced leverage profile during those years. Notably, there is a pronounced escalation in the ratio during mid-2025 to 1.08, followed by a reduction to 0.55 by late 2025. These changes correspond to the extraordinary fluctuations in both debt and equity values, suggesting a period of atypical financial structure possibly related to major financing or corporate events.
Debt to Capital
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Total Synopsys stockholders’ equity | |||||||||||||||||||||||||||||||||||
Total capital | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to capital1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= ÷ =
2 Click competitor name to see calculations.
The analysis of the financial data reveals several notable trends and shifts in the company's debt and capital structure over the examined periods.
- Total Debt
- The total debt level demonstrates significant fluctuations across the quarters. Initially, there is a sharp decline from US$ 541,870 thousand in January 2019 to US$ 137,707 thousand by October 2019. This downward trend continues, with debt levels further decreasing to a range between approximately US$ 15,599 thousand and US$ 20,569 thousand from early 2022 through early 2025, indicating a strong debt reduction strategy during this timeframe. However, there are two notable exceptions in the later periods—an extremely high debt spike to US$ 10,050,643 thousand in July 2025 followed by an even higher increase to US$ 14,340,133 thousand in October 2025. These spikes represent dramatic increases compared to prior quarters and suggest a significant change in the company’s financing or liabilities towards the end of the data range.
- Total Capital
- Total capital shows a generally steady upward trajectory over the analysis period. Starting at approximately US$ 4,320,672 thousand in January 2019, the capital base grows consistently with some intermittent accelerations, reaching nearly US$ 9,319,012 thousand by April 2025. The last two data points reveal extraordinary jumps to US$ 19,966,361 thousand in July 2025 and US$ 41,954,664 thousand in October 2025, which are substantial increases in capital structure. This pattern suggests increased financing activity or equity infusion in these final quarters.
- Debt to Capital Ratio
- The debt to capital ratio tracks the proportion of debt relative to total capital. From January 2019 through October 2021, this ratio shows a steady decrease from 0.13 to nearly 0.02, indicating strengthening equity relative to debt and reduced reliance on borrowing. From January 2022 to January 2025, the ratio remains at or near zero, consistent with the minimal debt levels reported during these periods. Notably, in July and October 2025, the ratio rises sharply to 0.50 and 0.34 respectively, aligning with the aforementioned spikes in total debt and capital. This marks a significant reversal in the company's capital structure trend, showing a much higher leverage level.
In summary, the company maintained a low-debt, steadily growing capital base from 2019 through early 2025, with the debt to capital ratio consistently low or near zero. However, the abrupt and large increases in both debt and capital in the final two quarters analyzed indicate a substantial shift in financing strategy, resulting in significantly increased leverage. This change could imply new investment, acquisitions, or restructuring activities that warrant further examination for their implications on financial stability and risk.
Debt to Capital (including Operating Lease Liability)
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Current operating lease liabilities | |||||||||||||||||||||||||||||||||||
Long-term operating lease liabilities | |||||||||||||||||||||||||||||||||||
Total debt (including operating lease liability) | |||||||||||||||||||||||||||||||||||
Total Synopsys stockholders’ equity | |||||||||||||||||||||||||||||||||||
Total capital (including operating lease liability) | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to capital (including operating lease liability)1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= ÷ =
2 Click competitor name to see calculations.
- Total Debt (Including Operating Lease Liability)
- Over the period examined, total debt demonstrates significant variability with an overall upward trend, particularly marked by a substantial increase starting from early 2025. Initially, debt decreased sharply from 541,870 thousand USD in January 2019 to a low near 137,707 thousand USD by October 2019. Following this trough, the debt level rose steadily, fluctuating moderately around the 650,000 to 690,000 thousand USD range between 2021 and 2024. However, in early 2025, debt escalated dramatically, reaching over 15,140,314 thousand USD by July 2025, indicating a major financing or borrowing event.
- Total Capital (Including Operating Lease Liability)
- Total capital exhibited a general growth pattern throughout the period, beginning at approximately 4,320,672 thousand USD in January 2019 and rising steadily with incremental increases each quarter. The capital base expanded from about 5,000,000 thousand USD in early 2020 to nearly 7,000,000 thousand USD by early 2024. Similar to total debt, a pronounced surge occurred in 2025, where total capital doubled, reaching more than 42,754,845 thousand USD by July 2025. This suggests a significant capital restructuring or infusion.
- Debt to Capital Ratio (Including Operating Lease Liability)
- The debt-to-capital ratio varied notably but remained relatively low through most of the period, indicating conservative leverage. Beginning at 0.13 in January 2019, the ratio decreased sharply to 0.03 by mid-to-late 2019, reflecting a reduction in debt relative to capital. From 2020 to early 2024, the ratio hovered between 0.07 and 0.12, showing stable leverage with consistent capital growth relative to debt. However, in 2025, this ratio rose steeply, peaking at 0.52 before declining to 0.35, concurrent with the large increases in both debt and capital. This spike indicates a temporary increase in leverage, likely associated with the significant shifts observed in the debt and capital amounts.
Debt to Assets
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Total assets | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to assets1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several discernible trends concerning the company's debt and asset structure over the presented periods.
- Total Debt
- Total debt exhibits significant fluctuations. Initial values start at a high level of 541,870 thousand USD at the beginning of 2019, followed by a substantial reduction through 2019 and 2020, reaching lows around 15,599 to 20,569 thousand USD between January 2022 and October 2023. However, a sharp and unexpected increase is observed starting January 2025, with values rising dramatically to over 10 million thousand USD and continuing upward to over 14 million thousand USD by mid-2025.
- Total Assets
- Total assets demonstrate a general upward trajectory, rising from approximately 6.3 million thousand USD in early 2019 to over 13 million thousand USD by early 2025. A sharp and pronounced increase is evident toward the end of the dataset, with total assets spiking to around 23.7 million thousand USD in January 2025 and reaching nearly 48.2 million thousand USD by mid-2025. This spike suggests a significant acquisition, revaluation, or change in asset composition during this period.
- Debt to Assets Ratio
- The debt to assets ratio begins relatively low and decreases steadily over time, hovering around 0.01 or lower during much of 2021 to late 2024, indicating very low leverage relative to the company's asset base. However, a notable change occurs in the final periods where the ratio abruptly increases to 0.42 and then decreases to 0.3. This sharp increase corresponds with the substantial rise in total debt and total assets described earlier, signaling a marked change in the company's financial structure, with significantly increased leverage.
Overall, the data suggests a period of conservative leverage and steady asset growth for several years, followed by a sudden large-scale increase in both debt and assets starting in early 2025. This may indicate a strategic financial event, such as a major acquisition, large-scale financing, or restructuring. The increased debt level relative to assets suggests a shift toward higher risk or altered capital structure strategy during this latest phase.
Debt to Assets (including Operating Lease Liability)
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Short-term debt | |||||||||||||||||||||||||||||||||||
Long-term debt | |||||||||||||||||||||||||||||||||||
Total debt | |||||||||||||||||||||||||||||||||||
Current operating lease liabilities | |||||||||||||||||||||||||||||||||||
Long-term operating lease liabilities | |||||||||||||||||||||||||||||||||||
Total debt (including operating lease liability) | |||||||||||||||||||||||||||||||||||
Total assets | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Debt to assets (including operating lease liability)1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= ÷ =
2 Click competitor name to see calculations.
- Total Debt (Including Operating Lease Liability)
-
The total debt levels exhibited significant fluctuations across the analyzed periods. Initially, debt decreased markedly from 541,870 thousand US dollars in January 2019 to 137,707 thousand US dollars by October 2019. Subsequently, there was a sharp increase reaching 858,518 thousand US dollars in January 2020, followed by a gradual decline and stabilization around the 650,000 to 700,000 thousand US dollars range through early 2024. However, an extraordinary surge occurred in April and July 2025, where total debt escalated drastically to over 10 million and 15 million thousand US dollars, marking a substantial deviation from historical norms. This escalation suggests a major financing event or restructuring during that recent timeframe.
- Total Assets
-
Total assets demonstrated a consistent upward trajectory throughout the majority of the periods. Starting from approximately 6.3 billion US dollars in January 2019, assets grew steadily with slight acceleration in later years, reaching roughly 13 billion US dollars by the start of 2025. A pronounced increase was observed in the last two quarters of the dataset, with assets rising dramatically to over 23 billion and subsequently about 48 billion US dollars, indicating a period of significant asset accumulation or acquisition activity late in the timeframe.
- Debt to Assets Ratio (Including Operating Lease Liability)
-
The debt to assets ratio showed a relatively low and stable profile during the initial years, generally fluctuating between 0.02 and 0.12. After 2019, this ratio maintained a consistent band around 0.05 to 0.08, suggesting controlled leverage relative to asset base growth. However, nearing the end of the dataset, corresponding to the large increases in both total debt and assets, the ratio spiked substantially to 0.45 in April 2025 before decreasing somewhat to 0.31 in July 2025. This notable increase implies a significant change in capital structure or balance sheet leverage, reflecting a potentially higher risk profile or strategic shift in financing.
Financial Leverage
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Total assets | |||||||||||||||||||||||||||||||||||
Total Synopsys stockholders’ equity | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Financial leverage1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Microsoft Corp. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. | |||||||||||||||||||||||||||||||||||
Salesforce Inc. | |||||||||||||||||||||||||||||||||||
ServiceNow Inc. | |||||||||||||||||||||||||||||||||||
Workday Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Financial leverage = Total assets ÷ Total Synopsys stockholders’ equity
= ÷ =
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the analyzed periods concerning total assets, stockholders' equity, and financial leverage ratio.
- Total Assets
-
The total assets show a generally upward trend from January 2019 through to January 2025. Beginning at approximately 6.34 billion US dollars in early 2019, the asset base experienced steady growth, reaching around 13.07 billion by early 2025. Noteworthy is a significant surge after April 2025, where total assets sharply increased to over 23.75 billion by July 2025, eventually reaching approximately 48.23 billion in the latest period. This rapid expansion indicates either major acquisitions, asset revaluations, or considerable capital investments in the most recent quarters.
- Total Synopsys Stockholders’ Equity
-
Stockholders’ equity also demonstrated consistent growth, increasing from around 3.78 billion US dollars in January 2019 to approximately 9.91 billion by July 2025. A comparable pattern exists between equity growth and assets growth until early 2025, with equity rising moderately and steadily. However, a marked increase starts from January 2024, intensifying rapidly after April 2025; the equity reached nearly 27.61 billion by the latest period, which mirrors the significant asset growth. This suggests enhanced shareholder value and possibly new equity issuances or retained earnings contributing to equity expansion.
- Financial Leverage Ratio
-
The financial leverage ratio has experienced fluctuations but remained relatively stable near the range of 1.4 to 1.7 for the majority of the time span. Early periods showed a slight decline from 1.68 in January 2019 down to approximately 1.45 in January 2025, indicating a moderate reduction in the use of debt relative to equity. However, the ratio spikes sharply in the April 2025 to July 2025 interval, reaching 2.4 before dropping again to 1.75 by the last period. This spike corresponds with the sharp increases in total assets and equity, possibly reflecting a temporary increase in debt or changes in financing structure during the asset growth phase.
Overall, the data indicates sustained growth in the company’s financial position with expanding asset and equity bases. The leverage ratio’s stability for much of the period suggests prudent financial management, although sudden leverage changes in the last reported quarters warrant further review to understand the underlying causes and implications for the company’s risk profile.
Interest Coverage
Jul 31, 2025 | Apr 30, 2025 | Jan 31, 2025 | Oct 31, 2024 | Jul 31, 2024 | Apr 30, 2024 | Jan 31, 2024 | Oct 31, 2023 | Jul 31, 2023 | Apr 30, 2023 | Jan 31, 2023 | Oct 31, 2022 | Jul 31, 2022 | Apr 30, 2022 | Jan 31, 2022 | Oct 31, 2021 | Jul 31, 2021 | Apr 30, 2021 | Jan 31, 2021 | Oct 31, 2020 | Jul 31, 2020 | Apr 30, 2020 | Jan 31, 2020 | Oct 31, 2019 | Jul 31, 2019 | Apr 30, 2019 | Jan 31, 2019 | |||||||||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
Net income attributed to Synopsys | |||||||||||||||||||||||||||||||||||
Add: Net income attributable to noncontrolling interest | |||||||||||||||||||||||||||||||||||
Less: Income (loss) from discontinued operations, net of income taxes | |||||||||||||||||||||||||||||||||||
Add: Income tax expense | |||||||||||||||||||||||||||||||||||
Add: Interest expense | |||||||||||||||||||||||||||||||||||
Earnings before interest and tax (EBIT) | |||||||||||||||||||||||||||||||||||
Solvency Ratio | |||||||||||||||||||||||||||||||||||
Interest coverage1 | |||||||||||||||||||||||||||||||||||
Benchmarks | |||||||||||||||||||||||||||||||||||
Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||||||||
Accenture PLC | |||||||||||||||||||||||||||||||||||
Adobe Inc. | |||||||||||||||||||||||||||||||||||
Cadence Design Systems Inc. | |||||||||||||||||||||||||||||||||||
CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||||||||
Datadog Inc. | |||||||||||||||||||||||||||||||||||
Fair Isaac Corp. | |||||||||||||||||||||||||||||||||||
International Business Machines Corp. | |||||||||||||||||||||||||||||||||||
Intuit Inc. | |||||||||||||||||||||||||||||||||||
Oracle Corp. | |||||||||||||||||||||||||||||||||||
Palantir Technologies Inc. | |||||||||||||||||||||||||||||||||||
Palo Alto Networks Inc. |
Based on: 10-Q (reporting date: 2025-07-31), 10-Q (reporting date: 2025-04-30), 10-Q (reporting date: 2025-01-31), 10-K (reporting date: 2024-10-31), 10-Q (reporting date: 2024-07-31), 10-Q (reporting date: 2024-04-30), 10-Q (reporting date: 2024-01-31), 10-K (reporting date: 2023-10-31), 10-Q (reporting date: 2023-07-31), 10-Q (reporting date: 2023-04-30), 10-Q (reporting date: 2023-01-31), 10-K (reporting date: 2022-10-31), 10-Q (reporting date: 2022-07-31), 10-Q (reporting date: 2022-04-30), 10-Q (reporting date: 2022-01-31), 10-K (reporting date: 2021-10-31), 10-Q (reporting date: 2021-07-31), 10-Q (reporting date: 2021-04-30), 10-Q (reporting date: 2021-01-31), 10-K (reporting date: 2020-10-31), 10-Q (reporting date: 2020-07-31), 10-Q (reporting date: 2020-04-30), 10-Q (reporting date: 2020-01-31), 10-K (reporting date: 2019-10-31), 10-Q (reporting date: 2019-07-31), 10-Q (reporting date: 2019-04-30), 10-Q (reporting date: 2019-01-31).
1 Q3 2025 Calculation
Interest coverage
= (EBITQ3 2025
+ EBITQ2 2025
+ EBITQ1 2025
+ EBITQ4 2024)
÷ (Interest expenseQ3 2025
+ Interest expenseQ2 2025
+ Interest expenseQ1 2025
+ Interest expenseQ4 2024)
= ( + + + )
÷ ( + + + )
=
2 Click competitor name to see calculations.
- Earnings before interest and tax (EBIT)
- The EBIT values exhibit significant fluctuations across the quarters from January 2019 through July 2025. Initially, EBIT figures remain relatively stable with moderate variations between approximately 130,000 and 150,000 thousand US dollars until early 2020. In mid-2020, there is a noticeable peak reaching around 236,854 thousand US dollars, followed by a decline in subsequent quarters in late 2020. Starting in early 2021, EBIT shows an overall upward trend with some oscillations, hitting a high of 409,691 thousand US dollars in October 2023. However, this is followed by another fluctuation with values decreasing and then rising again. The data from January 2024 onward shows considerable volatility with figures ranging from approximately 291,117 to 490,527 thousand US dollars, indicating periods of both strong operational performance and sharp contractions.
- Interest Expense
- Interest expense data is unavailable for all periods prior to January 2025. In the last two reported quarters, the interest expense increases substantially from 94,336 thousand US dollars in January 2025 to 146,502 thousand US dollars in April 2025. The absence of data before 2025 precludes an analysis of longer-term trends for this metric, but the sharp increase towards the end of the dataset suggests a rising cost of debt or higher borrowing levels in more recent periods.
- Interest Coverage Ratio
- The interest coverage ratio is not reported for the majority of the period under review and is only available for January and April 2025, showing a decline from 15.86 to 5.98. This downward movement indicates a reduced ability to cover interest expenses with operating earnings, which may be a result of increased interest obligations or decreased EBIT during those quarters. The limited data points restrict analysis of the coverage ratio's trend over time, but the marked decrease over two quarters is a potential concern reflecting deteriorating financial flexibility related to interest payments.