Debt to Equity
since 2005
Calculation
Yahoo! Inc., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Total Yahoo! Inc. stockholders’ equity1 | |
|---|---|---|---|---|---|
| Dec 31, 2016 | 0.04 | = | 1,322,945) | ÷ | 31,049,283) |
| Dec 31, 2015 | 0.04 | = | 1,266,485) | ÷ | 29,043,537) |
| Dec 31, 2014 | 0.03 | = | 1,217,423) | ÷ | 38,741,837) |
| Dec 31, 2013 | 0.09 | = | 1,154,585) | ÷ | 13,074,909) |
| Dec 31, 2012 | 0.00 | = | 37,000) | ÷ | 14,560,200) |
| Dec 31, 2011 | 0.00 | = | 41,000) | ÷ | 12,541,067) |
| Dec 31, 2010 | 0.00 | = | 40,000) | ÷ | 12,558,129) |
| Dec 31, 2009 | 0.00 | = | 43,000) | ÷ | 12,493,320) |
| Dec 31, 2008 | 0.00 | = | 43,000) | ÷ | 11,250,942) |
| Dec 31, 2007 | 0.08 | = | 749,628) | ÷ | 9,532,831) |
| Dec 31, 2006 | 0.08 | = | 749,915) | ÷ | 9,160,610) |
| Dec 31, 2005 | 0.09 | = | 749,995) | ÷ | 8,566,415) |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
1 US$ in thousands
The capital structure from 2005 through 2016 is characterized by three distinct phases of leverage and equity growth, transitioning from a period of stability to a phase of near-zero debt, and concluding with a significant increase in both total debt and stockholders' equity.
- Debt Obligations Trends
- Total debt remained stable at approximately 750 million US dollars between 2005 and 2007 before undergoing a sharp reduction in 2008 to 43 million US dollars. This minimal debt level was maintained through 2012. However, a substantial reversal occurred in 2013, with debt rising to over 1.15 billion US dollars and continuing a steady upward trajectory to reach 1.32 billion US dollars by 2016.
- Stockholders' Equity Evolution
- Equity exhibited consistent growth from 2005 to 2012, rising from 8.57 billion US dollars to 14.56 billion US dollars. Following a slight contraction in 2013, a significant surge was recorded in 2014, where equity peaked at 38.74 billion US dollars. The final two years of the period saw a stabilization of equity between 29 billion and 31 billion US dollars.
- Debt to Equity Ratio Analysis
- The leverage ratio reflects the interplay between the rising debt and expanding equity. Between 2008 and 2012, the ratio remained at 0.00, indicating a virtually debt-free capital structure. Although total debt increased significantly starting in 2013, the simultaneous expansion of stockholders' equity kept the ratio low. By 2014, despite debt exceeding 1.2 billion US dollars, the ratio dropped to 0.03 due to the massive increase in equity, remaining stable at 0.04 through 2016.
Overall, the data indicates a strategic shift in financing. While the absolute volume of debt increased in the latter part of the period, the disproportionate growth in stockholders' equity ensured that the company maintained a very low risk profile regarding its debt-to-equity leverage.
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Comparison to Competitors
Yahoo! Inc., debt to equity, long-term trends, comparison to competitors
| Yahoo! Inc. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dec 31, 2016 | 0.04 | 0.00 | 0.26 | — | 0.93 | — | 2.31 | 0.86 | 0.76 | 0.93 | — | 0.64 | 0.36 | 1.31 | 0.06 | 0.45 |
| Dec 31, 2015 | 0.04 | 0.00 | 0.27 | — | 0.25 | — | 2.80 | 0.21 | 0.44 | 0.86 | — | 1.00 | 0.49 | 0.84 | 0.07 | 0.44 |
| Dec 31, 2014 | 0.03 | 0.00 | 0.22 | — | 0.52 | — | 3.44 | 0.16 | 0.25 | 0.52 | — | 1.00 | 0.79 | 1.04 | 0.02 | 0.41 |
| Dec 31, 2013 | 0.09 | 0.01 | 0.23 | — | 0.28 | — | 1.74 | 0.14 | 0.20 | 0.41 | — | 0.00 | 0.25 | 1.05 | 0.04 | 0.04 |
| Dec 31, 2012 | 0.00 | 0.00 | 0.23 | — | 0.49 | — | 1.76 | 0.18 | 0.18 | 0.38 | — | 0.00 | 0.35 | 0.00 | 0.05 | — |
| Dec 31, 2011 | 0.00 | 0.00 | 0.26 | — | 1.04 | — | 1.56 | 0.38 | 0.21 | 0.40 | — | — | 0.38 | — | 0.00 | — |
| Dec 31, 2010 | 0.00 | 0.00 | 0.29 | — | 1.99 | — | 1.24 | 0.35 | 0.13 | 0.48 | — | — | 0.45 | — | 0.00 | — |
| Dec 31, 2009 | 0.00 | 0.00 | 0.20 | — | 4.02 | — | 1.15 | 0.39 | 0.15 | 0.41 | — | — | 0.01 | — | 0.00 | — |
| Dec 31, 2008 | 0.00 | 0.00 | 0.08 | — | 4.91 | — | 2.52 | 0.48 | 0.00 | 0.49 | — | — | 0.00 | — | 0.00 | — |
| Dec 31, 2007 | 0.08 | 0.01 | 0.00 | — | 0.35 | — | 1.24 | 0.49 | 0.00 | 0.45 | — | — | 0.00 | — | 0.00 | — |
| Dec 31, 2006 | 0.08 | 0.03 | 0.00 | — | 0.45 | — | 0.80 | 0.00 | 0.00 | 0.39 | — | — | 0.00 | — | 0.00 | — |
| Dec 31, 2005 | 0.09 | 0.04 | 0.00 | — | 0.31 | — | 0.68 | 0.00 | 0.00 | 0.26 | — | — | 0.01 | — | 0.00 | — |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Sector (Software & Services)
Yahoo! Inc., debt to equity, long-term trends, comparison to sector (software & services)
| Yahoo! Inc. | Software & Services | |
|---|---|---|
| Dec 31, 2016 | 0.04 | 0.90 |
| Dec 31, 2015 | 0.04 | 0.73 |
| Dec 31, 2014 | 0.03 | 0.54 |
| Dec 31, 2013 | 0.09 | 0.46 |
| Dec 31, 2012 | 0.00 | 0.44 |
| Dec 31, 2011 | 0.00 | 0.47 |
| Dec 31, 2010 | 0.00 | 0.46 |
| Dec 31, 2009 | 0.00 | 0.44 |
| Dec 31, 2008 | 0.00 | 0.56 |
| Dec 31, 2007 | 0.08 | 0.50 |
| Dec 31, 2006 | 0.08 | 0.31 |
| Dec 31, 2005 | 0.09 | 0.26 |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).
Comparison to Industry (Information Technology)
Yahoo! Inc., debt to equity, long-term trends, comparison to industry (information technology)
| Yahoo! Inc. | Information Technology | |
|---|---|---|
| Dec 31, 2016 | 0.04 | 0.65 |
| Dec 31, 2015 | 0.04 | 0.56 |
| Dec 31, 2014 | 0.03 | 0.38 |
| Dec 31, 2013 | 0.09 | 0.28 |
| Dec 31, 2012 | 0.00 | 0.24 |
| Dec 31, 2011 | 0.00 | 0.27 |
| Dec 31, 2010 | 0.00 | 0.24 |
| Dec 31, 2009 | 0.00 | 0.25 |
| Dec 31, 2008 | 0.00 | 0.28 |
| Dec 31, 2007 | 0.08 | 0.26 |
| Dec 31, 2006 | 0.08 | 0.19 |
| Dec 31, 2005 | 0.09 | 0.15 |
Based on: 10-K (reporting date: 2016-12-31), 10-K (reporting date: 2015-12-31), 10-K (reporting date: 2014-12-31), 10-K (reporting date: 2013-12-31), 10-K (reporting date: 2012-12-31), 10-K (reporting date: 2011-12-31), 10-K (reporting date: 2010-12-31), 10-K (reporting date: 2009-12-31), 10-K (reporting date: 2008-12-31), 10-K (reporting date: 2007-12-31), 10-K (reporting date: 2006-12-31), 10-K (reporting date: 2005-12-31).