Analysis of Solvency Ratios
Quarterly Data
Solvency ratios also known as long-term debt ratios measure a company ability to meet long-term obligations.
Solvency Ratios (Summary)
Take-Two Interactive Software Inc., solvency ratios (quarterly data)
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
The analysis of the financial leverage and debt ratios over the observed periods reveals several key trends and developments.
- Debt to Equity Ratio
- From June 2022 onwards, the debt to equity ratio demonstrates a generally increasing trend. Starting at approximately 0.34, it shows gradual increases through subsequent quarters, reaching a significant peak of 1.71 by March 2025. This indicates a rising reliance on debt relative to shareholders' equity over time.
- Debt to Equity Ratio Including Operating Lease Liability
- This ratio began at low levels around 0.05 to 0.07 until the first half of 2022, then surged sharply around June 2022, rising from approximately 0.38 to 0.72 by March 2025. The inclusion of operating lease liabilities reveals a more pronounced increase in leverage, with a very steep rise toward the end of the period, culminating at nearly 1.92.
- Debt to Capital Ratio
- Similar to debt to equity, this ratio remains stable at about 0.24 to 0.27 from mid-2022 to late 2023 but escalates from 0.35 in March 2024 to 0.63 by March 2025. This suggests an increasing proportion of debt within the overall capital structure.
- Debt to Capital Ratio Including Operating Lease Liability
- This ratio mirrors the trend observed without operating leases but shows higher levels, progressing from approximately 0.27 in late 2022 to 0.66 by the end of the period. This emphasizes the growing impact of lease liabilities on the company's capital structure.
- Debt to Assets Ratio
- Starting around 0.18 to 0.21 in 2022, the ratio ascends modestly to 0.4 by March 2025. The increase indicates a higher portion of total assets financed through debt.
- Debt to Assets Ratio Including Operating Lease Liability
- This ratio begins lower, at roughly 0.03 to 0.04 before mid-2022, then rises sharply to 0.45 by March 2025, demonstrating that operating leases contribute notably to the company's liabilities relative to assets.
- Financial Leverage
- Financial leverage remains relatively stable, hovering between 1.7 and 1.9 through much of the earlier periods but exhibits a sharp rise starting March 2024, escalating to 4.29 by March 2025. This sharp increase signals a marked growth in total assets relative to equity, indicating a substantially more leveraged financial position near the end of the timeframe.
Overall, the data points to an increasing trend in debt usage and financial leverage, especially when operating lease liabilities are included. The company appears to be taking on more financial obligations relative to equity and capital from 2022 through early 2025, culminating in significantly higher leverage ratios by the end of the analyzed period.
Debt Ratios
Debt to Equity
Take-Two Interactive Software Inc., debt to equity calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | 2,137,700) | 5,701,900) | 5,798,500) | 5,991,500) | 5,667,900) | 8,508,600) | 8,430,100) | 8,940,200) | 9,042,500) | 9,550,400) | 9,433,500) | 9,662,300) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity1 | 1.71 | 0.64 | 0.63 | 0.61 | 0.54 | 0.36 | 0.37 | 0.34 | 0.34 | 0.32 | 0.35 | 0.34 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.07 | 0.03 | 0.03 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | ||||||
| Comcast Corp. | — | — | 1.05 | 1.14 | 1.16 | 1.18 | 1.18 | 1.17 | 1.17 | 1.18 | 1.16 | 1.16 | 1.17 | 1.15 | 1.02 | 1.00 | 0.99 | 1.01 | 1.04 | 1.12 | ||||||
| Meta Platforms Inc. | — | — | 0.15 | 0.16 | 0.16 | 0.18 | 0.12 | 0.12 | 0.12 | 0.13 | 0.14 | 0.08 | 0.08 | 0.08 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Netflix Inc. | — | 0.56 | 0.58 | 0.62 | 0.63 | 0.70 | 0.63 | 0.66 | 0.71 | 0.65 | 0.63 | 0.66 | 0.69 | 0.68 | 0.75 | 0.83 | 0.97 | 1.01 | 1.13 | 1.21 | ||||||
| Trade Desk Inc. | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Walt Disney Co. | — | 0.39 | 0.41 | 0.44 | 0.45 | 0.47 | 0.47 | 0.47 | 0.47 | 0.48 | 0.50 | 0.50 | 0.51 | 0.56 | 0.57 | 0.60 | 0.61 | 0.64 | 0.66 | 0.69 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to equity = Total debt ÷ Total Take-Two Interactive Software, Inc. stockholders’ equity
= 3,661,100 ÷ 2,137,700 = 1.71
2 Click competitor name to see calculations.
The financial data over the observed quarterly periods indicates several notable trends in the capital structure and leverage of the company.
- Total Debt
- The total debt was unreported in the earlier periods but from the data available starting around late 2021, it shows a relatively stable level between approximately 3.07 billion and 3.28 billion US dollars. A significant increase occurs beginning in early 2024, with total debt rising from about 3.08 billion to over 3.66 billion US dollars by March 2025. This suggests a marked uptick in borrowing or debt accumulation in the most recent quarters.
- Total Stockholders’ Equity
- The equity generally trended upward from mid-2020 through early 2022, growing from roughly 2.65 billion US dollars to a peak above 9.6 billion US dollars by June 2022. Subsequently, equity fluctuated downward to about 5.67 billion US dollars by March 2024, followed by a further sharp decline down to approximately 2.14 billion US dollars by March 2025. This reduction in equity indicates a diminishing net asset base over the latter periods, which could reflect accumulated losses, stock repurchases, or other equity-reducing activities.
- Debt to Equity Ratio
- This ratio started from a low base around 0.32-0.35 in the earlier reported periods, reflecting relatively moderate leverage. From early 2022 to early 2023, it fluctuated between 0.32 and 0.37, indicating stable leverage. Starting in early 2024, there is a steep increase in the ratio, reaching as high as 1.71 by March 2025. This sharp rise corresponds with both the increase in total debt and the decline in stockholders’ equity, signifying that the company is increasingly relying on debt relative to its equity base. Such an increase in leverage may imply higher financial risk or changes in capital management strategies.
Overall, the data highlights stable debt levels initially followed by increased borrowing, accompanied by a substantial reduction in equity and a consequent rise in financial leverage. These patterns may warrant closer scrutiny regarding the company's risk profile, financing strategy, and the potential impact on future financial flexibility.
Debt to Equity (including Operating Lease Liability)
Take-Two Interactive Software Inc., debt to equity (including operating lease liability) calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Current operating lease liabilities | 61,500) | 59,100) | 59,000) | 64,100) | 63,800) | 64,000) | 61,500) | 60,600) | 60,200) | 58,500) | 55,600) | 55,400) | 38,921) | 34,480) | 31,962) | 31,361) | 31,595) | 30,540) | 29,051) | 27,602) | ||||||
| Non-current operating lease liabilities | 383,300) | 386,700) | 398,300) | 404,900) | 387,300) | 380,700) | 373,000) | 354,700) | 347,000) | 354,200) | 329,900) | 341,200) | 211,297) | 209,646) | 207,437) | 156,951) | 159,671) | 156,835) | 150,793) | 153,506) | ||||||
| Total debt (including operating lease liability) | 4,105,900) | 4,103,700) | 4,112,400) | 4,122,300) | 3,534,000) | 3,526,100) | 3,514,700) | 3,492,100) | 3,487,000) | 3,498,200) | 3,671,000) | 3,682,100) | 250,218) | 244,126) | 239,399) | 188,312) | 191,266) | 187,375) | 179,844) | 181,108) | ||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | 2,137,700) | 5,701,900) | 5,798,500) | 5,991,500) | 5,667,900) | 8,508,600) | 8,430,100) | 8,940,200) | 9,042,500) | 9,550,400) | 9,433,500) | 9,662,300) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 1.92 | 0.72 | 0.71 | 0.69 | 0.62 | 0.41 | 0.42 | 0.39 | 0.39 | 0.37 | 0.39 | 0.38 | 0.07 | 0.07 | 0.07 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.10 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 | ||||||
| Meta Platforms Inc. | — | — | 0.25 | 0.27 | 0.27 | 0.30 | 0.24 | 0.25 | 0.24 | 0.25 | 0.27 | 0.22 | 0.21 | 0.21 | 0.13 | 0.11 | 0.11 | 0.09 | 0.09 | 0.09 | ||||||
| Trade Desk Inc. | — | — | 0.13 | 0.12 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.12 | 0.14 | 0.15 | 0.17 | 0.19 | 0.23 | 0.24 | 0.26 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Take-Two Interactive Software, Inc. stockholders’ equity
= 4,105,900 ÷ 2,137,700 = 1.92
2 Click competitor name to see calculations.
- Debt Levels and Equity Trends
- Over the periods observed, total debt including operating lease liability exhibited significant fluctuations. Initially, debt levels remained relatively stable, fluctuating slightly between approximately $179.8 million and $250.2 million from mid-2020 through mid-2022. However, starting in June 2022, there was a pronounced and sudden increase in debt, reaching values exceeding $3.4 billion, peaking at approximately $4.12 billion by mid-2024, and stabilizing slightly thereafter. This represents a substantial rise in leverage over a relatively short timeframe.
- Stockholders’ Equity
- Stockholders’ equity showed a general upward trend from mid-2020 through mid-2022, increasing from about $2.65 billion to a peak nearing $9.66 billion. Following this peak period, equity experienced a noticeable decline, dropping sharply to approximately $2.14 billion by mid-2025. The initial rise suggests strong capital growth or retained earnings accumulation, whereas the latter decrease indicates potential share buybacks, dividends, losses, or other equity reductions.
- Debt to Equity Ratio
- The debt to equity ratio remained very low and stable, between 0.05 and 0.07, during the initial periods up to early 2022, reflecting conservative leverage relative to the company’s equity base. Beginning in mid-2022, this ratio escalated drastically, rising from roughly 0.37 to nearly 1.92 by early 2025. This sharp increase in the ratio correlates with both the surge in debt levels and the contraction of equity, indicating an overall higher financial risk exposure.
- Overall Financial Leverage and Risk
- The data indicates that the company has undergone a marked increase in financial leverage starting around mid-2022, concurrently with a reduction in stockholders’ equity after reaching a peak. Such a trend might reflect strategic financing decisions such as large debt issuances possibly to fund acquisitions, investment activities, or other significant financial maneuvers. This increased leverage signifies a shift toward a more aggressive capital structure that potentially elevates financial risk if not managed prudently.
Debt to Capital
Take-Two Interactive Software Inc., debt to capital calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | 2,137,700) | 5,701,900) | 5,798,500) | 5,991,500) | 5,667,900) | 8,508,600) | 8,430,100) | 8,940,200) | 9,042,500) | 9,550,400) | 9,433,500) | 9,662,300) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Total capital | 5,798,800) | 9,359,800) | 9,453,600) | 9,644,800) | 8,750,800) | 11,590,000) | 11,510,300) | 12,017,000) | 12,122,300) | 12,635,900) | 12,719,000) | 12,947,800) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital1 | 0.63 | 0.39 | 0.39 | 0.38 | 0.35 | 0.27 | 0.27 | 0.26 | 0.25 | 0.24 | 0.26 | 0.25 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.06 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.06 | ||||||
| Comcast Corp. | — | — | 0.51 | 0.53 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.54 | 0.51 | 0.50 | 0.50 | 0.50 | 0.51 | 0.53 | ||||||
| Meta Platforms Inc. | — | — | 0.13 | 0.13 | 0.14 | 0.15 | 0.10 | 0.11 | 0.11 | 0.11 | 0.12 | 0.07 | 0.07 | 0.07 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Netflix Inc. | — | 0.36 | 0.37 | 0.38 | 0.39 | 0.41 | 0.39 | 0.40 | 0.41 | 0.39 | 0.39 | 0.40 | 0.41 | 0.40 | 0.43 | 0.45 | 0.49 | 0.50 | 0.53 | 0.55 | ||||||
| Trade Desk Inc. | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Walt Disney Co. | — | 0.28 | 0.29 | 0.31 | 0.31 | 0.32 | 0.32 | 0.32 | 0.32 | 0.33 | 0.33 | 0.33 | 0.34 | 0.36 | 0.36 | 0.38 | 0.38 | 0.39 | 0.40 | 0.41 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 3,661,100 ÷ 5,798,800 = 0.63
2 Click competitor name to see calculations.
The quarterly financial data reveals several notable trends concerning the company's capital structure and debt levels over the analyzed periods.
- Total Debt
- The total debt values are available starting from December 31, 2022. From that point onward, the total debt has shown a relatively stable but gradually increasing trend. Beginning at approximately 3.29 billion US dollars, the debt slightly decreased around December 2022 and March 2023 but then resumed a modest upward trajectory through March 2025. Notably, the total debt rose significantly after March 2024, reaching around 3.66 billion US dollars by March 2025.
- Total Capital
- Total capital figures are available for the entire period, starting from June 30, 2020. There is an initial upward trend from approximately 2.65 billion US dollars to about 3.81 billion by the first quarter of 2022. After this peak, total capital increases substantially to over 12.9 billion US dollars at June 30, 2022, followed by a declining trend thereafter. Between June 2022 and March 2025, total capital decreases sharply, dropping from nearly 12.9 billion to just under 5.8 billion US dollars by the last reported quarter. This represents a significant contraction in capital over the later periods.
- Debt to Capital Ratio
- The debt to capital ratio starts being reported from June 30, 2022. Initially, the ratio is relatively low, around 0.25 to 0.27, indicating that debt constituted about a quarter of the total capital. However, from March 2023 onwards, the debt to capital ratio increases markedly, rising to 0.35 by March 2023 and further increasing to 0.39 by December 2024. By March 2025, the ratio escalates to 0.63, reflecting a growing reliance on debt financing relative to the company's capital base. This upward trend suggests a shift toward greater financial leverage over the observed quarters.
In summary, the data indicates that while total capital peaked significantly in mid-2022 before contracting substantially, total debt remained relatively stable but increased progressively over the same period. Consequently, the debt to capital ratio has risen sharply, especially in the last year of the dataset, implying increasing leverage and potentially higher financial risk. The company appears to be relying more heavily on debt compared to equity or other capital components as time progresses.
Debt to Capital (including Operating Lease Liability)
Take-Two Interactive Software Inc., debt to capital (including operating lease liability) calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Current operating lease liabilities | 61,500) | 59,100) | 59,000) | 64,100) | 63,800) | 64,000) | 61,500) | 60,600) | 60,200) | 58,500) | 55,600) | 55,400) | 38,921) | 34,480) | 31,962) | 31,361) | 31,595) | 30,540) | 29,051) | 27,602) | ||||||
| Non-current operating lease liabilities | 383,300) | 386,700) | 398,300) | 404,900) | 387,300) | 380,700) | 373,000) | 354,700) | 347,000) | 354,200) | 329,900) | 341,200) | 211,297) | 209,646) | 207,437) | 156,951) | 159,671) | 156,835) | 150,793) | 153,506) | ||||||
| Total debt (including operating lease liability) | 4,105,900) | 4,103,700) | 4,112,400) | 4,122,300) | 3,534,000) | 3,526,100) | 3,514,700) | 3,492,100) | 3,487,000) | 3,498,200) | 3,671,000) | 3,682,100) | 250,218) | 244,126) | 239,399) | 188,312) | 191,266) | 187,375) | 179,844) | 181,108) | ||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | 2,137,700) | 5,701,900) | 5,798,500) | 5,991,500) | 5,667,900) | 8,508,600) | 8,430,100) | 8,940,200) | 9,042,500) | 9,550,400) | 9,433,500) | 9,662,300) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Total capital (including operating lease liability) | 6,243,600) | 9,805,600) | 9,910,900) | 10,113,800) | 9,201,900) | 12,034,700) | 11,944,800) | 12,432,300) | 12,529,500) | 13,048,600) | 13,104,500) | 13,344,400) | 4,059,877) | 3,909,863) | 3,709,067) | 3,807,244) | 3,523,158) | 3,342,666) | 3,081,126) | 2,832,136) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.66 | 0.42 | 0.41 | 0.41 | 0.38 | 0.29 | 0.29 | 0.28 | 0.28 | 0.27 | 0.28 | 0.28 | 0.06 | 0.06 | 0.06 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.09 | 0.06 | 0.06 | 0.07 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | ||||||
| Meta Platforms Inc. | — | — | 0.20 | 0.21 | 0.21 | 0.23 | 0.20 | 0.20 | 0.20 | 0.20 | 0.21 | 0.18 | 0.17 | 0.17 | 0.11 | 0.10 | 0.10 | 0.09 | 0.08 | 0.08 | ||||||
| Trade Desk Inc. | — | — | 0.11 | 0.11 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 | 0.12 | 0.11 | 0.12 | 0.13 | 0.14 | 0.16 | 0.18 | 0.20 | 0.21 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 4,105,900 ÷ 6,243,600 = 0.66
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals several significant trends regarding the company's debt levels, total capital, and debt-to-capital ratio over the observed period.
- Total Debt (Including Operating Lease Liability)
-
The total debt remained relatively stable from mid-2020 through early 2022, fluctuating modestly between approximately $180 million and $250 million. However, from mid-2022 onward, there was a sharp and sustained increase, peaking at over $4.1 billion by the first quarter of 2025. This indicates a substantial rise in leverage over the recent quarters, with debt growing more than tenfold compared to the earlier stable period.
- Total Capital (Including Operating Lease Liability)
-
Total capital experienced a steady increase during the initial phase, growing from about $2.8 billion in mid-2020 to over $4 billion by early 2022. From mid-2022, the capital base expanded dramatically, reaching approximately $13.3 billion, before trending downward from mid-2023 onward, falling to roughly $6.2 billion in the first quarter of 2025. This pattern suggests a significant inflow of capital or revaluation followed by a pronounced contraction.
- Debt to Capital Ratio (Including Operating Lease Liability)
-
The debt-to-capital ratio was consistently low and stable, ranging from 0.05 to 0.06, until early 2022. Subsequently, the ratio rose sharply, reaching around 0.28 through late 2023, which reflects the increase in debt outpacing capital growth during that phase. Following that period, the ratio climbed further, reaching 0.42 by the first quarter of 2025, before a marked jump to 0.66 in the latest quarter. This indicates a significant shift toward higher leverage, implying increased financial risk and higher dependence on debt financing.
In summary, the data demonstrate that the company maintained low leverage with stable capital and debt levels until early 2022. After this point, both total debt and total capital increased substantially, followed by a reversal in capital levels while debt remained elevated. The resulting rise in the debt-to-capital ratio highlights a transition to a more debt-intensive capital structure, which could impact financial flexibility and risk profile going forward.
Debt to Assets
Take-Two Interactive Software Inc., debt to assets calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total assets | 9,180,700) | 12,679,900) | 13,075,300) | 12,944,600) | 12,216,900) | 14,895,700) | 15,207,400) | 15,525,300) | 15,862,100) | 16,881,400) | 17,492,900) | 17,744,900) | 6,546,219) | 6,357,953) | 6,619,031) | 6,314,255) | 6,028,218) | 5,966,099) | 5,836,154) | 5,369,241) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets1 | 0.40 | 0.29 | 0.28 | 0.28 | 0.25 | 0.21 | 0.20 | 0.20 | 0.19 | 0.18 | 0.19 | 0.19 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.05 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | 0.04 | ||||||
| Comcast Corp. | — | — | 0.37 | 0.37 | 0.37 | 0.38 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.37 | 0.36 | 0.35 | 0.35 | 0.34 | 0.35 | 0.36 | 0.37 | ||||||
| Meta Platforms Inc. | — | — | 0.10 | 0.10 | 0.10 | 0.11 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.05 | 0.05 | 0.06 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Netflix Inc. | — | 0.26 | 0.27 | 0.29 | 0.29 | 0.31 | 0.28 | 0.29 | 0.30 | 0.29 | 0.28 | 0.29 | 0.30 | 0.29 | 0.31 | 0.32 | 0.35 | 0.36 | 0.38 | 0.39 | ||||||
| Trade Desk Inc. | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||
| Walt Disney Co. | — | 0.21 | 0.22 | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.23 | 0.23 | 0.24 | 0.24 | 0.24 | 0.25 | 0.26 | 0.27 | 0.27 | 0.28 | 0.28 | 0.29 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= 3,661,100 ÷ 9,180,700 = 0.40
2 Click competitor name to see calculations.
The analysis of the quarterly financial data indicates several noteworthy trends in the financial position over the observed periods.
- Total Debt
- The total debt remained unreported for several initial quarters but becomes available starting from late 2022. From this point forward, the total debt shows a generally stable level around 3,080,000 to 3,083,000 thousand US dollars in the earlier quarters, with a noticeable increase to approximately 3,653,000 thousand US dollars in the first quarter of 2024 and maintaining a similar level through to the first quarter of 2025. This suggests a significant rise in the company's leverage or borrowing near the end of the observed period.
- Total Assets
- Total assets display a long-term growth trend initially, rising steadily from approximately 5,369,000 thousand US dollars in mid-2020 to a peak near 17,744,900 thousand US dollars in mid-2022. After reaching this peak, the asset base contracts gradually, decreasing to around 9,180,700 thousand US dollars by the first quarter of 2025. This reduction indicates a substantial decrease in asset holdings or possible disposals and write-downs following the peak period.
- Debt-to-Assets Ratio
- The debt-to-assets ratio is unavailable for the initial periods but becomes calculable when debt figures are reported. Initially, the ratio remains relatively low, approximately 0.18 to 0.20 from late 2022 through late 2023, indicating a conservative leverage position in relation to the asset base. However, starting in early 2024, the ratio escalates significantly, reaching 0.40 by the first quarter of 2025. This sudden increase reflects the combination of rising debt and declining assets, implying a higher financial risk profile.
In summary, the data portrays a company that experienced strong asset growth until mid-2022, followed by a phase of asset contraction. Concurrently, debt levels increased, especially in the more recent quarters, resulting in a marked elevation in financial leverage. This combination of decreasing assets alongside increasing debt raises considerations regarding the company’s financing strategy and risk exposure moving into 2024 and 2025.
Debt to Assets (including Operating Lease Liability)
Take-Two Interactive Software Inc., debt to assets (including operating lease liability) calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Short-term debt, net | 1,148,500) | 599,600) | 599,200) | 598,900) | 24,600) | 373,200) | 373,100) | 372,100) | 1,346,800) | 350,000) | 350,000) | 350,000) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Long-term debt, net | 2,512,600) | 3,058,300) | 3,055,900) | 3,054,400) | 3,058,300) | 2,708,200) | 2,707,100) | 2,704,700) | 1,733,000) | 2,735,500) | 2,935,500) | 2,935,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Total debt | 3,661,100) | 3,657,900) | 3,655,100) | 3,653,300) | 3,082,900) | 3,081,400) | 3,080,200) | 3,076,800) | 3,079,800) | 3,085,500) | 3,285,500) | 3,285,500) | —) | —) | —) | —) | —) | —) | —) | —) | ||||||
| Current operating lease liabilities | 61,500) | 59,100) | 59,000) | 64,100) | 63,800) | 64,000) | 61,500) | 60,600) | 60,200) | 58,500) | 55,600) | 55,400) | 38,921) | 34,480) | 31,962) | 31,361) | 31,595) | 30,540) | 29,051) | 27,602) | ||||||
| Non-current operating lease liabilities | 383,300) | 386,700) | 398,300) | 404,900) | 387,300) | 380,700) | 373,000) | 354,700) | 347,000) | 354,200) | 329,900) | 341,200) | 211,297) | 209,646) | 207,437) | 156,951) | 159,671) | 156,835) | 150,793) | 153,506) | ||||||
| Total debt (including operating lease liability) | 4,105,900) | 4,103,700) | 4,112,400) | 4,122,300) | 3,534,000) | 3,526,100) | 3,514,700) | 3,492,100) | 3,487,000) | 3,498,200) | 3,671,000) | 3,682,100) | 250,218) | 244,126) | 239,399) | 188,312) | 191,266) | 187,375) | 179,844) | 181,108) | ||||||
| Total assets | 9,180,700) | 12,679,900) | 13,075,300) | 12,944,600) | 12,216,900) | 14,895,700) | 15,207,400) | 15,525,300) | 15,862,100) | 16,881,400) | 17,492,900) | 17,744,900) | 6,546,219) | 6,357,953) | 6,619,031) | 6,314,255) | 6,028,218) | 5,966,099) | 5,836,154) | 5,369,241) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.45 | 0.32 | 0.31 | 0.32 | 0.29 | 0.24 | 0.23 | 0.22 | 0.22 | 0.21 | 0.21 | 0.21 | 0.04 | 0.04 | 0.04 | 0.03 | 0.03 | 0.03 | 0.03 | 0.03 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 0.07 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | ||||||
| Meta Platforms Inc. | — | — | 0.17 | 0.18 | 0.18 | 0.19 | 0.17 | 0.17 | 0.16 | 0.17 | 0.18 | 0.15 | 0.14 | 0.14 | 0.09 | 0.09 | 0.08 | 0.07 | 0.07 | 0.07 | ||||||
| Trade Desk Inc. | — | — | 0.06 | 0.06 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.10 | 0.10 | 0.11 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 4,105,900 ÷ 9,180,700 = 0.45
2 Click competitor name to see calculations.
- Total Debt (including operating lease liability)
- The total debt remained relatively stable from mid-2020 through early 2022, fluctuating mildly around the range of approximately $180 million to $250 million. However, starting mid-2022, there is a pronounced and substantial increase in total debt, escalating rapidly to over $4 billion by the first quarter of 2025. This sharp rise indicates a significant change in the company's financing structure or capital needs, with debt levels multiplying nearly seventeenfold from early 2022 onward.
- Total Assets
- The total assets demonstrated steady growth from mid-2020 up to early 2022, increasing from about $5.4 billion to roughly $6.5 billion, suggesting ongoing asset accumulation or appreciation. Contrastingly, from mid-2022, total assets surged dramatically, soaring to a peak exceeding $17 billion before experiencing a consistent decline from early 2023 onward, dropping to under $9.2 billion by the first quarter of 2025. This pattern reflects a period of significant asset growth followed by a marked reduction over approximately two years.
- Debt to Assets Ratio (including operating lease liability)
- The debt to assets ratio remained very low and stable at around 0.03 to 0.04 between mid-2020 and early 2022, indicating a conservative leverage position with minimal debt relative to assets. Despite the increase in debt and assets during mid-2022, the ratio rose markedly to approximately 0.21 and then continued on an upward trajectory, reaching 0.45 by the first quarter of 2025. The increasing leverage ratio highlights that debt growth has outpaced asset decline in the recent period, signaling elevated financial risk and a heavier reliance on debt financing.
- Overall Analysis
- The data reveals two distinct phases for the entity within the timeframe. Initially, the financial position was characterized by moderate and stable debt levels with steady asset growth and very low leverage, indicating a strong balance sheet and conservative capital structure. Post mid-2022, there is a dramatic transformation marked by a substantial increase in both total debt and total assets, followed by a decline in assets while debt remains high, resulting in a sharp rise in the debt to assets ratio. This shift suggests strategic transactions or financing events drastically altering the company's financial profile, increasing leverage and potentially heightening credit risk.
Financial Leverage
Take-Two Interactive Software Inc., financial leverage calculation (quarterly data)
| Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | |||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | ||||||||||||||||||||||||||
| Total assets | 9,180,700) | 12,679,900) | 13,075,300) | 12,944,600) | 12,216,900) | 14,895,700) | 15,207,400) | 15,525,300) | 15,862,100) | 16,881,400) | 17,492,900) | 17,744,900) | 6,546,219) | 6,357,953) | 6,619,031) | 6,314,255) | 6,028,218) | 5,966,099) | 5,836,154) | 5,369,241) | ||||||
| Total Take-Two Interactive Software, Inc. stockholders’ equity | 2,137,700) | 5,701,900) | 5,798,500) | 5,991,500) | 5,667,900) | 8,508,600) | 8,430,100) | 8,940,200) | 9,042,500) | 9,550,400) | 9,433,500) | 9,662,300) | 3,809,659) | 3,665,737) | 3,469,668) | 3,618,932) | 3,331,892) | 3,155,291) | 2,901,282) | 2,651,028) | ||||||
| Solvency Ratio | ||||||||||||||||||||||||||
| Financial leverage1 | 4.29 | 2.22 | 2.25 | 2.16 | 2.16 | 1.75 | 1.80 | 1.74 | 1.75 | 1.77 | 1.85 | 1.84 | 1.72 | 1.73 | 1.91 | 1.74 | 1.81 | 1.89 | 2.01 | 2.03 | ||||||
| Benchmarks | ||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | ||||||||||||||||||||||||||
| Alphabet Inc. | — | — | 1.38 | 1.38 | 1.39 | 1.37 | 1.38 | 1.39 | 1.42 | 1.45 | 1.43 | 1.42 | 1.43 | 1.41 | 1.39 | 1.41 | 1.43 | 1.42 | 1.41 | 1.42 | ||||||
| Comcast Corp. | — | — | 2.83 | 3.09 | 3.11 | 3.15 | 3.15 | 3.19 | 3.20 | 3.16 | 3.12 | 3.15 | 3.18 | 3.17 | 2.92 | 2.89 | 2.87 | 2.89 | 2.92 | 3.01 | ||||||
| Meta Platforms Inc. | — | — | 1.51 | 1.51 | 1.51 | 1.56 | 1.47 | 1.49 | 1.50 | 1.51 | 1.54 | 1.48 | 1.48 | 1.44 | 1.35 | 1.33 | 1.33 | 1.27 | 1.23 | 1.22 | ||||||
| Netflix Inc. | — | 2.12 | 2.13 | 2.17 | 2.17 | 2.30 | 2.22 | 2.29 | 2.37 | 2.24 | 2.23 | 2.27 | 2.34 | 2.32 | 2.43 | 2.58 | 2.81 | 2.79 | 2.96 | 3.11 | ||||||
| Trade Desk Inc. | — | — | 2.21 | 2.10 | 2.07 | 2.10 | 2.15 | 2.15 | 2.26 | 2.10 | 2.10 | 2.06 | 2.07 | 2.05 | 2.06 | 2.08 | 2.34 | 2.29 | 2.32 | 2.40 | ||||||
| Walt Disney Co. | — | 1.80 | 1.88 | 1.93 | 1.95 | 1.97 | 1.97 | 1.96 | 2.07 | 2.09 | 2.09 | 2.10 | 2.14 | 2.21 | 2.23 | 2.26 | 2.30 | 2.33 | 2.34 | 2.40 | ||||||
Based on: 10-K (reporting date: 2025-03-31), 10-Q (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-K (reporting date: 2024-03-31), 10-Q (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-K (reporting date: 2023-03-31), 10-Q (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-K (reporting date: 2022-03-31), 10-Q (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-K (reporting date: 2021-03-31), 10-Q (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30).
1 Q4 2025 Calculation
Financial leverage = Total assets ÷ Total Take-Two Interactive Software, Inc. stockholders’ equity
= 9,180,700 ÷ 2,137,700 = 4.29
2 Click competitor name to see calculations.
- Total assets
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Total assets showed a generally upward trend from June 2020 through March 2022, increasing from approximately 5.37 billion US dollars to a peak near 17.74 billion US dollars. This represents substantial asset growth during this period. Following this peak, total assets declined progressively, dropping to about 9.18 billion US dollars by March 2025. This reversal after early 2022 suggests a significant contraction or divestiture of assets in the more recent quarters.
- Total stockholders’ equity
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Stockholders’ equity experienced a similar trajectory, rising steadily from about 2.65 billion US dollars in mid-2020 to a peak of approximately 9.66 billion US dollars in June 2022. After this apex, equity levels trended downward through March 2025, reaching roughly 2.14 billion US dollars. The decline in equity following the mid-2022 peak indicates possible increased distributions, write-downs, or losses affecting retained earnings and overall equity value.
- Financial leverage
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Financial leverage ratios started at just above 2.0 in mid-2020, decreased to a low near 1.72 by March 2022, indicating a relatively lower proportion of total assets funded by liabilities at that time. Post-March 2022, financial leverage increased sharply, reaching 4.29 by March 2025. The marked rise in leverage towards the end of the period reflects a significant increase in reliance on debt or liabilities relative to equity. This rise in leverage corresponds temporally with declines in both total assets and equity, pointing to a notable shift in the company’s capital structure and financial risk profile.