Stock Analysis on Net
Stock Analysis on Net

Take-Two Interactive Software Inc. (NASDAQ:TTWO)

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Analysis of Income Taxes

Microsoft Excel

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Income Tax Expense (Benefit)

Take-Two Interactive Software Inc., income tax expense (benefit), continuing operations

US$ in thousands

Microsoft Excel
12 months ended: Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
U.S. federal
U.S. state and local
Foreign
Current income taxes
U.S. federal
U.S. state and local
Foreign
Deferred income taxes
Provision for (benefit from) income taxes

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Item Description The company
Current income taxes Amount of current income tax expense (benefit) pertaining to taxable income (loss) from continuing operations. Take-Two Interactive Software Inc. current income taxes decreased from 2023 to 2024 and from 2024 to 2025.
Deferred income taxes Amount of deferred income tax expense (benefit) pertaining to income (loss) from continuing operations. Take-Two Interactive Software Inc. deferred income taxes increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.
Provision for (benefit from) income taxes Amount of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Take-Two Interactive Software Inc. provision for (benefit from) income taxes increased from 2023 to 2024 but then slightly decreased from 2024 to 2025.

Effective Income Tax Rate (EITR)

Take-Two Interactive Software Inc., effective income tax rate (EITR) reconciliation

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
U.S. statutory federal income tax rate
State and local taxes, net of U.S. federal benefit
Foreign tax rate differential
Foreign earnings
Tax credits
Excess tax benefits from stock-based compensation
Earn-out adjustments
Valuation allowance, domestic
Valuation allowance, foreign
Nondeductible compensation
Global intangible low-taxed income
Foreign-derived intangible income
Change in reserves
Goodwill impairment
Other
Effective tax rate

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Item Description The company
Effective tax rate Percentage of current income tax expense (benefit) and deferred income tax expense (benefit) pertaining to continuing operations. Take-Two Interactive Software Inc. effective tax rate decreased from 2023 to 2024 but then slightly increased from 2024 to 2025.

Components of Deferred Tax Assets and Liabilities

Take-Two Interactive Software Inc., components of deferred tax assets and liabilities

US$ in thousands

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Capitalized development costs, software and depreciation
Tax credit carryforward
Equity-based compensation
Tax basis step up related to TRAF
Net operating loss carryforward
Operating lease liabilities
Accrued compensation expense
Disallowed interest
Deferred revenue
Business reorganization
Other
Deferred tax assets
Valuation allowance
Net deferred tax assets
Intangible amortization
Right-of-use assets
Deferred revenue
Capitalized software and depreciation
Other
Deferred tax liabilities
Net deferred tax asset (liability)

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Item Description The company
Deferred tax assets Amount before allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Take-Two Interactive Software Inc. deferred tax assets increased from 2023 to 2024 and from 2024 to 2025.
Net deferred tax assets Amount after allocation of valuation allowances of deferred tax asset attributable to deductible temporary differences and carryforwards. Take-Two Interactive Software Inc. net deferred tax assets decreased from 2023 to 2024 and from 2024 to 2025.
Net deferred tax asset (liability) Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, without jurisdictional netting. Take-Two Interactive Software Inc. net deferred tax asset (liability) increased from 2023 to 2024 and from 2024 to 2025.

Deferred Tax Assets and Liabilities, Classification

Take-Two Interactive Software Inc., deferred tax assets and liabilities, classification

US$ in thousands

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Deferred tax assets
Deferred tax liabilities

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Item Description The company
Deferred tax assets Amount, after allocation of valuation allowances and deferred tax liability, of deferred tax asset attributable to deductible differences and carryforwards, with jurisdictional netting and classified as noncurrent. Take-Two Interactive Software Inc. deferred tax assets decreased from 2023 to 2024 and from 2024 to 2025.
Deferred tax liabilities Amount, after deferred tax asset, of deferred tax liability attributable to taxable differences, with jurisdictional netting and classified as noncurrent. Take-Two Interactive Software Inc. deferred tax liabilities decreased from 2023 to 2024 and from 2024 to 2025.

Adjustments to Financial Statements: Removal of Deferred Taxes

Take-Two Interactive Software Inc., adjustments to financial statements

US$ in thousands

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Adjustment to Total Assets
Total assets (as reported)
Less: Noncurrent deferred tax assets, net
Total assets (adjusted)
Adjustment to Total Liabilities
Total liabilities (as reported)
Less: Noncurrent deferred tax liabilities, net
Total liabilities (adjusted)
Adjustment to Stockholders’ Equity
Stockholders’ equity (as reported)
Less: Net deferred tax assets (liabilities)
Stockholders’ equity (adjusted)
Adjustment to Net Income (loss)
Net income (loss) (as reported)
Add: Deferred income tax expense (benefit)
Net income (loss) (adjusted)

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Take-Two Interactive Software Inc., Financial Data: Reported vs. Adjusted

Adjusted Financial Ratios: Removal of Deferred Taxes (Summary)

Take-Two Interactive Software Inc., adjusted financial ratios

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
Net Profit Margin
Reported net profit margin
Adjusted net profit margin
Total Asset Turnover
Reported total asset turnover
Adjusted total asset turnover
Financial Leverage
Reported financial leverage
Adjusted financial leverage
Return on Equity (ROE)
Reported ROE
Adjusted ROE
Return on Assets (ROA)
Reported ROA
Adjusted ROA

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

Financial ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Take-Two Interactive Software Inc. adjusted net profit margin ratio deteriorated from 2023 to 2024 and from 2024 to 2025.
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Take-Two Interactive Software Inc. adjusted total asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Take-Two Interactive Software Inc. adjusted financial leverage ratio increased from 2023 to 2024 and from 2024 to 2025.
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Take-Two Interactive Software Inc. adjusted ROE deteriorated from 2023 to 2024 and from 2024 to 2025.
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Take-Two Interactive Software Inc. adjusted ROA deteriorated from 2023 to 2024 and from 2024 to 2025.

Take-Two Interactive Software Inc., Financial Ratios: Reported vs. Adjusted

Adjusted Net Profit Margin

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)
Net revenue
Profitability Ratio
Net profit margin1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)
Net revenue
Profitability Ratio
Adjusted net profit margin2

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

2025 Calculations

1 Net profit margin = 100 × Net income (loss) ÷ Net revenue
= 100 × ÷ =

2 Adjusted net profit margin = 100 × Adjusted net income (loss) ÷ Net revenue
= 100 × ÷ =

Profitability ratio Description The company
Adjusted net profit margin An indicator of profitability, calculated as adjusted net income divided by total revenue. Take-Two Interactive Software Inc. adjusted net profit margin ratio deteriorated from 2023 to 2024 and from 2024 to 2025.

Adjusted Total Asset Turnover

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net revenue
Total assets
Activity Ratio
Total asset turnover1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Net revenue
Adjusted total assets
Activity Ratio
Adjusted total asset turnover2

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

2025 Calculations

1 Total asset turnover = Net revenue ÷ Total assets
= ÷ =

2 Adjusted total asset turnover = Net revenue ÷ Adjusted total assets
= ÷ =

Activity ratio Description The company
Adjusted total asset turnover An activity ratio calculated as total revenue divided by adjusted total assets. Take-Two Interactive Software Inc. adjusted total asset turnover ratio improved from 2023 to 2024 and from 2024 to 2025.

Adjusted Financial Leverage

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Total assets
Stockholders’ equity
Solvency Ratio
Financial leverage1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted total assets
Adjusted stockholders’ equity
Solvency Ratio
Adjusted financial leverage2

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

2025 Calculations

1 Financial leverage = Total assets ÷ Stockholders’ equity
= ÷ =

2 Adjusted financial leverage = Adjusted total assets ÷ Adjusted stockholders’ equity
= ÷ =

Solvency ratio Description The company
Adjusted financial leverage A measure of financial leverage calculated as adjusted total assets divided by adjusted total equity.
Financial leverage is the extent to which a company can effect, through the use of debt, a proportional change in the return on common equity that is greater than a given proportional change in operating income.		 Take-Two Interactive Software Inc. adjusted financial leverage ratio increased from 2023 to 2024 and from 2024 to 2025.

Adjusted Return on Equity (ROE)

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)
Stockholders’ equity
Profitability Ratio
ROE1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)
Adjusted stockholders’ equity
Profitability Ratio
Adjusted ROE2

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

2025 Calculations

1 ROE = 100 × Net income (loss) ÷ Stockholders’ equity
= 100 × ÷ =

2 Adjusted ROE = 100 × Adjusted net income (loss) ÷ Adjusted stockholders’ equity
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROE A profitability ratio calculated as adjusted net income divided by adjusted shareholders’ equity. Take-Two Interactive Software Inc. adjusted ROE deteriorated from 2023 to 2024 and from 2024 to 2025.

Adjusted Return on Assets (ROA)

Microsoft Excel
Mar 31, 2025 Mar 31, 2024 Mar 31, 2023 Mar 31, 2022 Mar 31, 2021 Mar 31, 2020
As Reported
Selected Financial Data (US$ in thousands)
Net income (loss)
Total assets
Profitability Ratio
ROA1
Adjusted for Deferred Taxes
Selected Financial Data (US$ in thousands)
Adjusted net income (loss)
Adjusted total assets
Profitability Ratio
Adjusted ROA2

Based on: 10-K (reporting date: 2025-03-31), 10-K (reporting date: 2024-03-31), 10-K (reporting date: 2023-03-31), 10-K (reporting date: 2022-03-31), 10-K (reporting date: 2021-03-31), 10-K (reporting date: 2020-03-31).

2025 Calculations

1 ROA = 100 × Net income (loss) ÷ Total assets
= 100 × ÷ =

2 Adjusted ROA = 100 × Adjusted net income (loss) ÷ Adjusted total assets
= 100 × ÷ =

Profitability ratio Description The company
Adjusted ROA A profitability ratio calculated as adjusted net income divided by adjusted total assets. Take-Two Interactive Software Inc. adjusted ROA deteriorated from 2023 to 2024 and from 2024 to 2025.