Debt to Equity
since 2005
Calculation
Take-Two Interactive Software Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt, net1 | ÷ | Stockholders’ equity1 | |
|---|---|---|---|---|---|
| Mar 31, 2025 | 1.71 | = | 3,661,100) | ÷ | 2,137,700) |
| Mar 31, 2024 | 0.54 | = | 3,082,900) | ÷ | 5,667,900) |
| Mar 31, 2023 | 0.34 | = | 3,079,800) | ÷ | 9,042,500) |
| Mar 31, 2022 | 0.00 | = | —) | ÷ | 3,809,659) |
| Mar 31, 2021 | 0.00 | = | —) | ÷ | 3,331,892) |
| Mar 31, 2020 | 0.00 | = | —) | ÷ | 2,539,244) |
| Mar 31, 2019 | 0.00 | = | —) | ÷ | 2,040,580) |
| Mar 31, 2018 | 0.01 | = | 8,068) | ÷ | 1,488,970) |
| Mar 31, 2017 | 0.25 | = | 251,929) | ÷ | 1,003,728) |
| Mar 31, 2016 | 0.86 | = | 497,935) | ÷ | 581,385) |
| Mar 31, 2015 | 0.85 | = | 476,057) | ÷ | 563,088) |
| Mar 31, 2014 | 0.57 | = | 454,031) | ÷ | 801,806) |
| Mar 31, 2013 | 0.57 | = | 335,202) | ÷ | 587,995) |
| Mar 31, 2012 | 0.53 | = | 316,340) | ÷ | 595,727) |
| Mar 31, 2011 | 0.17 | = | 107,239) | ÷ | 615,279) |
| Mar 31, 2010 | 0.19 | = | 99,865) | ÷ | 520,623) |
| Oct 31, 2009 | 0.27 | = | 138,000) | ÷ | 506,132) |
| Oct 31, 2008 | 0.11 | = | 70,000) | ÷ | 615,118) |
| Oct 31, 2007 | 0.04 | = | 18,000) | ÷ | 471,154) |
| Oct 31, 2006 | 0.00 | = | —) | ÷ | 550,392) |
| Oct 31, 2005 | 0.00 | = | —) | ÷ | 696,134) |
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), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
1 US$ in thousands
The company's capital structure has evolved through several distinct phases, moving from a low-leverage position to a period of moderate debt accumulation, followed by near-total deleveraging and a recent surge in financial liabilities.
- Initial Debt Accumulation (2007–2016)
- A steady upward trend in borrowing is observed starting in 2007, with net debt increasing from $18 million to a peak of $497.9 million by 2016. During this interval, the debt-to-equity ratio rose from 0.04 to 0.86, indicating an increasing reliance on borrowed capital to fund operations or growth relative to shareholders' equity.
- Deleveraging and Equity Growth (2017–2022)
- A sharp reversal in leverage occurred between 2017 and 2018, as total debt was reduced from $251.9 million to $8.1 million. This resulted in a debt-to-equity ratio of 0.01, representing a near-absence of debt. Simultaneously, stockholders' equity entered a period of sustained growth, rising from $1.00 billion in 2017 to $3.81 billion by 2022.
- Aggressive Leverage Surge (2023–2025)
- The most recent period is characterized by a substantial increase in total debt, which jumped to $3.08 billion in 2023 and reached $3.66 billion by 2025. This increase in liabilities coincided with a volatile swing in stockholders' equity, which peaked at $9.04 billion in 2023 before declining sharply to $2.14 billion by 2025. Consequently, the debt-to-equity ratio escalated rapidly from 0.34 in 2023 to 1.71 in 2025.
The trajectory of the debt-to-equity ratio concludes at its highest historical point, reflecting a strategic shift toward a highly leveraged balance sheet and a significant reduction in the equity cushion relative to total debt obligations.
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Comparison to Competitors
Take-Two Interactive Software Inc., debt to equity, long-term trends, comparison to competitors
| Take-Two Interactive Software Inc. | Alphabet Inc. | Comcast Corp. | Meta Platforms Inc. | Netflix Inc. | Walt Disney Co. | |
|---|---|---|---|---|---|---|
| Mar 31, 2025 | 1.71 | 0.11 | 1.02 | 0.27 | 0.54 | 0.38 |
| Mar 31, 2024 | 0.54 | 0.03 | 1.16 | 0.16 | 0.63 | 0.45 |
| Mar 31, 2023 | 0.34 | 0.05 | 1.17 | 0.12 | 0.71 | 0.47 |
| Mar 31, 2022 | 0.00 | 0.06 | 1.17 | 0.08 | 0.69 | 0.51 |
| Mar 31, 2021 | 0.00 | 0.06 | 0.99 | 0.00 | 0.97 | 0.61 |
| Mar 31, 2020 | 0.00 | 0.06 | 1.15 | 0.00 | 1.47 | 0.70 |
| Mar 31, 2019 | 0.00 | 0.02 | 1.24 | 0.00 | 1.95 | 0.53 |
| Mar 31, 2018 | 0.01 | 0.02 | 1.56 | 0.00 | 1.98 | 0.43 |
| Mar 31, 2017 | 0.25 | 0.03 | 0.94 | 0.00 | 1.81 | 0.61 |
| Mar 31, 2016 | 0.86 | 0.03 | 1.13 | 0.00 | 1.26 | 0.47 |
| Mar 31, 2015 | 0.85 | 0.04 | 1.01 | 0.00 | 1.07 | 0.39 |
| Mar 31, 2014 | 0.57 | 0.05 | 0.92 | 0.01 | 0.48 | 0.33 |
| Mar 31, 2013 | 0.57 | 0.06 | 0.94 | 0.03 | 0.37 | 0.31 |
| Mar 31, 2012 | 0.53 | 0.08 | 0.82 | 0.20 | 0.54 | 0.36 |
| Mar 31, 2011 | 0.17 | 0.07 | 0.83 | — | 0.62 | 0.37 |
| Mar 31, 2010 | 0.19 | 0.07 | 0.71 | — | 0.69 | 0.33 |
| Oct 31, 2009 | 0.27 | 0.00 | 0.68 | — | 1.00 | 0.38 |
| Oct 31, 2008 | 0.11 | 0.00 | 0.80 | — | 0.00 | 0.45 |
| Oct 31, 2007 | 0.04 | 0.00 | 0.76 | — | 0.00 | 0.49 |
| Oct 31, 2006 | 0.00 | 0.00 | 0.70 | — | 0.00 | 0.43 |
| Oct 31, 2005 | 0.00 | 0.00 | 0.58 | — | 0.00 | 0.48 |
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), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
Comparison to Sector (Media & Entertainment)
Take-Two Interactive Software Inc., debt to equity, long-term trends, comparison to sector (media & entertainment)
| Take-Two Interactive Software Inc. | Media & Entertainment | |
|---|---|---|
| Mar 31, 2025 | 1.71 | 0.30 |
| Mar 31, 2024 | 0.54 | 0.28 |
| Mar 31, 2023 | 0.34 | 0.30 |
| Mar 31, 2022 | 0.00 | 0.31 |
| Mar 31, 2021 | 0.00 | 0.31 |
| Mar 31, 2020 | 0.00 | 0.36 |
| Mar 31, 2019 | 0.00 | 0.35 |
| Mar 31, 2018 | 0.01 | 0.38 |
| Mar 31, 2017 | 0.25 | 0.29 |
| Mar 31, 2016 | 0.86 | 0.30 |
| Mar 31, 2015 | 0.85 | 0.29 |
| Mar 31, 2014 | 0.57 | 0.29 |
| Mar 31, 2013 | 0.57 | 0.34 |
| Mar 31, 2012 | 0.53 | 0.36 |
| Mar 31, 2011 | 0.17 | 0.40 |
| Mar 31, 2010 | 0.19 | 0.37 |
| Oct 31, 2009 | 0.27 | 0.37 |
| Oct 31, 2008 | 0.11 | 0.46 |
| Oct 31, 2007 | 0.04 | 0.49 |
| Oct 31, 2006 | 0.00 | 0.47 |
| Oct 31, 2005 | 0.00 | 0.47 |
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), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).
Comparison to Industry (Communication Services)
Take-Two Interactive Software Inc., debt to equity, long-term trends, comparison to industry (communication services)
| Take-Two Interactive Software Inc. | Communication Services | |
|---|---|---|
| Mar 31, 2025 | 1.71 | 0.56 |
| Mar 31, 2024 | 0.54 | 0.56 |
| Mar 31, 2023 | 0.34 | 0.62 |
| Mar 31, 2022 | 0.00 | 0.65 |
| Mar 31, 2021 | 0.00 | 0.65 |
| Mar 31, 2020 | 0.00 | 0.67 |
| Mar 31, 2019 | 0.00 | 0.62 |
| Mar 31, 2018 | 0.01 | 0.71 |
| Mar 31, 2017 | 0.25 | 0.75 |
| Mar 31, 2016 | 0.86 | 0.75 |
| Mar 31, 2015 | 0.85 | 0.81 |
| Mar 31, 2014 | 0.57 | 0.81 |
| Mar 31, 2013 | 0.57 | 0.75 |
| Mar 31, 2012 | 0.53 | 0.62 |
| Mar 31, 2011 | 0.17 | 0.62 |
| Mar 31, 2010 | 0.19 | 0.60 |
| Oct 31, 2009 | 0.27 | 0.69 |
| Oct 31, 2008 | 0.11 | 0.73 |
| Oct 31, 2007 | 0.04 | 0.54 |
| Oct 31, 2006 | 0.00 | 0.54 |
| Oct 31, 2005 | 0.00 | 0.62 |
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), 10-K (reporting date: 2019-03-31), 10-K (reporting date: 2018-03-31), 10-K (reporting date: 2017-03-31), 10-K (reporting date: 2016-03-31), 10-K (reporting date: 2015-03-31), 10-K (reporting date: 2014-03-31), 10-K (reporting date: 2013-03-31), 10-K (reporting date: 2012-03-31), 10-K (reporting date: 2011-03-31), 10-K (reporting date: 2010-03-31), 10-K (reporting date: 2009-10-31), 10-K (reporting date: 2008-10-31), 10-K (reporting date: 2007-10-31), 10-K (reporting date: 2006-10-31), 10-K (reporting date: 2005-10-31).