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)
Accenture PLC, solvency ratios (quarterly data)
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
The analysis of the financial ratios over the specified periods reveals several noteworthy trends related to leverage and coverage metrics.
- Debt to Equity Ratios
- The reported Debt to Equity ratio excluding operating leases was initially zero across many periods, indicating negligible or no direct debt on the balance sheet up to early 2023. It then increased slightly from 0.01 to 0.18 by mid-2025, suggesting a modest rise in traditional debt levels in recent periods.
- When including operating lease liabilities, the Debt to Equity ratio started at 0 in 2018 but rose sharply to about 0.22 in late 2019, remaining relatively stable with a slight gradual decrease down to around 0.11 by early 2023. A notable increase occurred again afterward to approximately 0.28 by mid-2025. This reflects the impact of operating lease liabilities on the company’s leverage and suggests increased recognition or utilization of lease obligations as part of total financing.
- Debt to Capital Ratios
- Similar to the Debt to Equity trend, Debt to Capital without operating leases showed no or negligible debt until early 2023, after which small increases were recorded up to around 0.15 by mid-2025. This indicates a cautious introduction of debt into the capital structure over time.
- Including operating lease liabilities, the Debt to Capital ratio began at zero but climbed to roughly 0.18 by late 2019 and then gradually decreased to around 0.10 by early 2023. Subsequently, it increased to approximately 0.22 by mid-2025, consistent with the trend observed in the Debt to Equity metric that includes leases, reflecting an evolving capital structure with more reliance on lease liabilities.
- Debt to Assets Ratios
- Debt to Assets ratios excluding operating leases remained at zero for most periods until early 2023, when very marginal increases to about 0.09 were recorded by mid-2025, indicating slight growth in debt relative to total assets.
- Including operating leases, this ratio rose to around 0.10 by late 2019, then slowly declined to about 0.06 by early 2023, before increasing again to near 0.14 by mid-2025. This pattern mirrors the observations in other debt-related ratios and highlights the significance of operating lease liabilities in the overall asset financing.
- Financial Leverage
- The financial leverage ratio was relatively stable over the entire period, fluctuating modestly between 1.89 and 2.21 without extreme variability. A gentle declining trend from about 2.21 in 2021 to below 2.0 by early 2024 was observed, followed by a slight increase toward 2.07 by mid-2025. This stability signals a consistent use of equity relative to assets over time without major shifts in capital structure aggressiveness.
- Interest Coverage Ratio
- The interest coverage ratio data started from the first report in May 2019, showing extremely high values consistently above 120 and often exceeding 200 through to early 2023, indicating exceptionally strong earnings relative to interest expense. A steady decline began post-2023 with values dropping sharply to 57.86 by mid-2025. Despite the downward trend, the coverage remains substantially above critical distress levels but suggests increasing interest expenses or weaker earnings relative to prior years.
Overall, the company exhibits conservative traditional debt utilization until 2023, after which incremental borrowing is evident. Operating lease liabilities form a significant component of total leverage throughout the period, with fluctuations that affect most debt ratios. Financial leverage remains stable, denoting balanced capital management. The interest coverage ratio shows strong ability to service debt costs historically but signals a potential emerging risk if the declining trend continues.
Debt Ratios
Coverage Ratios
Debt to Equity
Accenture PLC, debt to equity calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total Accenture plc shareholders’ equity | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | 19,529,454) | 19,342,845) | 18,308,027) | 17,906,501) | 17,000,536) | 16,014,606) | 15,474,589) | 15,167,138) | 14,409,008) | 13,737,324) | 13,337,033) | 12,678,856) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to equity1 | 0.17 | 0.18 | 0.18 | 0.04 | 0.06 | 0.01 | 0.01 | 0.01 | 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 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Equity, Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.54 | 0.47 | 0.40 | 0.39 | 0.38 | 0.24 | 0.22 | 0.23 | 0.24 | 0.26 | 0.29 | 0.29 | 0.30 | 0.30 | 0.28 | 0.29 | 0.30 | 0.30 | 0.31 | 0.35 | 0.38 | 0.39 | 0.39 | 0.40 | 0.42 | 0.42 | ||||||||
| Cadence Design Systems Inc. | — | — | 0.52 | 0.53 | 0.62 | 0.32 | 0.18 | 0.19 | 0.21 | 0.22 | 0.23 | 0.27 | 0.29 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.29 | 0.31 | 0.32 | — | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 0.24 | 0.26 | 0.29 | 0.32 | 0.37 | 0.40 | 0.46 | 0.51 | 0.56 | 0.60 | 0.67 | 0.72 | 0.78 | 0.82 | 0.87 | 0.85 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8.46 | 4.32 | 2.69 | 2.52 | 3.75 | 4.43 | 3.81 | 2.85 | 3.07 | 3.32 | 3.65 | ||||||||
| International Business Machines Corp. | — | — | 2.35 | 2.01 | 2.31 | 2.35 | 2.56 | 2.51 | 2.39 | 2.59 | 2.72 | 2.32 | 2.53 | 2.59 | 2.85 | 2.74 | 2.45 | 2.51 | 2.64 | 2.99 | 3.08 | 3.15 | 3.22 | — | — | — | — | ||||||||
| Intuit Inc. | 0.32 | 0.35 | 0.34 | 0.33 | 0.32 | 0.35 | 0.35 | 0.35 | 0.38 | 0.45 | 0.43 | 0.42 | 0.40 | 0.43 | 0.21 | 0.21 | 0.20 | 0.27 | 0.45 | 0.66 | 0.08 | 0.11 | 0.12 | 0.12 | 0.11 | 0.15 | 0.15 | ||||||||
| Microsoft Corp. | 0.13 | 0.15 | 0.16 | 0.19 | 0.26 | 0.31 | 0.32 | 0.23 | 0.25 | 0.26 | 0.28 | 0.30 | 0.31 | 0.33 | 0.35 | 0.41 | 0.43 | 0.46 | 0.52 | 0.54 | 0.58 | 0.63 | 0.66 | 0.71 | 0.77 | 0.79 | 0.89 | ||||||||
| Oracle Corp. | 5.75 | 6.45 | 7.81 | 9.98 | 15.65 | 22.97 | 37.53 | 84.33 | — | — | — | — | — | — | — | 16.08 | 7.79 | 8.94 | 7.46 | 5.93 | 3.63 | 3.32 | 2.95 | — | — | — | — | ||||||||
| Palantir Technologies 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 | 0.11 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.05 | 0.08 | 0.11 | 0.19 | 0.26 | 0.42 | 0.90 | 1.14 | 2.99 | 5.05 | 7.24 | 17.51 | 10.89 | 31.19 | 7.08 | 5.08 | 3.20 | 3.04 | 4.18 | 2.80 | 1.98 | 0.91 | 0.95 | 0.90 | 1.08 | 1.45 | 1.30 | ||||||||
| Salesforce Inc. | 0.14 | 0.15 | 0.16 | 0.16 | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 | 0.18 | 0.18 | 0.18 | 0.19 | 0.24 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.17 | 0.19 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.15 | 0.15 | 0.16 | 0.17 | 0.18 | 0.20 | 0.21 | 0.21 | 0.27 | 0.30 | 0.33 | 0.35 | 0.39 | 0.43 | 0.45 | 0.48 | 0.53 | 0.58 | 0.64 | 0.28 | 0.31 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 1.01 | 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 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.03 | 0.06 | 0.08 | 0.03 | 0.04 | 0.07 | 0.14 | ||||||||
| Workday Inc. | 0.35 | 0.36 | 0.37 | 0.37 | 0.45 | 0.47 | 0.50 | 0.53 | 0.55 | 0.80 | 0.86 | 0.41 | 0.44 | 0.48 | 0.55 | 0.55 | 0.58 | 0.63 | 0.68 | 0.51 | 0.54 | 0.56 | 0.60 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to equity = Total debt ÷ Total Accenture plc shareholders’ equity
= 5,151,039 ÷ 30,554,725 = 0.17
2 Click competitor name to see calculations.
- Total Debt
-
Total debt levels generally remained low and fairly stable during the initial periods, fluctuating between approximately 19,633 and 25,000 thousand US dollars from November 2018 to February 2020. However, a significant increase was observed starting May 2020, where total debt surged sharply to above 60,000 thousand US dollars and continued to rise drastically. The peak values are observed in the recent periods, reaching several million US dollars by late 2024 and early 2025. This marks a substantial escalation in debt obligations over the analyzed timeframe, especially from mid-2020 onwards.
- Total Shareholders’ Equity
-
The shareholders' equity demonstrated a consistent upward trend throughout the entire period, rising steadily from approximately 12.7 billion US dollars in late 2018 to over 30 billion US dollars by mid-2025. This continuous growth suggests ongoing value creation and accumulation of retained earnings or capital increases, reflecting a strengthening equity base despite fluctuations in the total debt.
- Debt to Equity Ratio
-
The debt to equity ratio remained negligible at zero or very close to zero from 2018 through early 2023, indicating a minimal reliance on debt relative to equity. However, from around February 2023, this ratio increased notably, reaching values up to 0.18 in 2024 and 2025. This increase in leverage corresponds with the observed spike in total debt during the same period, albeit remaining relatively low compared to equity, implying that although debt levels rose substantially, equity growth still outpaced debt to some extent.
- Summary and Insights
-
The period from 2018 to early 2020 was characterized by low debt levels and consistent growth in shareholders' equity, reflecting a financially conservative stance or strong operational cash flow. A sharp rise in total debt starting mid-2020, continuing through 2024, suggests a shift in capital structure or financing strategy, potentially due to increased investments, acquisitions, or external factors requiring additional borrowing.
Despite higher debt levels in the latter periods, the company's strong equity growth mitigated the impact on financial leverage ratios, maintaining debt to equity at relatively modest levels. This indicates an ability to manage increased borrowings without significantly compromising financial stability. Overall, the data portray a transition towards increased use of financial leverage while preserving solid equity growth.
Debt to Equity (including Operating Lease Liability)
Accenture PLC, debt to equity (including operating lease liability) calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Current operating lease liabilities | 724,278) | 691,158) | 709,964) | 726,202) | 680,484) | 682,553) | 683,628) | 690,417) | 690,584) | 700,570) | 707,863) | 707,598) | 733,805) | 728,381) | 738,285) | 744,164) | 733,571) | 733,082) | 732,878) | 756,057) | 738,642) | 737,781) | 710,787) | —) | —) | —) | —) | ||||||||
| Non-current operating lease liabilities | 2,289,941) | 2,211,882) | 2,282,652) | 2,369,490) | 2,242,156) | 2,293,252) | 2,249,466) | 2,310,714) | 2,351,375) | 2,451,961) | 2,537,632) | 2,563,090) | 2,694,489) | 2,763,519) | 2,674,020) | 2,696,917) | 2,643,509) | 2,672,945) | 2,627,185) | 2,667,584) | 2,704,540) | 2,652,548) | 2,651,651) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 8,165,258) | 8,060,330) | 8,146,397) | 4,120,549) | 4,601,543) | 3,158,581) | 3,080,222) | 3,149,034) | 3,096,213) | 3,208,501) | 3,300,047) | 3,325,756) | 3,488,608) | 3,553,144) | 3,477,278) | 3,506,634) | 3,447,866) | 3,474,390) | 3,428,869) | 3,485,513) | 3,512,221) | 3,410,209) | 3,382,071) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total Accenture plc shareholders’ equity | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | 19,529,454) | 19,342,845) | 18,308,027) | 17,906,501) | 17,000,536) | 16,014,606) | 15,474,589) | 15,167,138) | 14,409,008) | 13,737,324) | 13,337,033) | 12,678,856) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to equity (including operating lease liability)1 | 0.27 | 0.28 | 0.28 | 0.15 | 0.17 | 0.12 | 0.12 | 0.12 | 0.12 | 0.14 | 0.14 | 0.15 | 0.16 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.21 | 0.22 | 0.22 | 0.22 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Equity (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.57 | 0.50 | 0.43 | 0.42 | 0.41 | 0.26 | 0.25 | 0.26 | 0.28 | 0.29 | 0.33 | 0.32 | 0.33 | 0.34 | 0.32 | 0.33 | 0.34 | 0.35 | 0.35 | 0.40 | 0.43 | 0.45 | 0.39 | 0.40 | 0.42 | 0.42 | ||||||||
| CrowdStrike Holdings Inc. | 0.26 | 0.28 | 0.31 | 0.34 | 0.39 | 0.43 | 0.49 | 0.54 | 0.59 | 0.63 | 0.70 | 0.76 | 0.82 | 0.86 | 0.92 | 0.89 | 0.05 | 0.06 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 8.92 | 4.59 | 2.90 | 2.74 | 4.05 | 4.79 | 4.14 | 2.85 | 3.07 | 3.32 | 3.65 | ||||||||
| International Business Machines Corp. | — | — | 2.49 | 2.14 | 2.46 | 2.49 | 2.70 | 2.66 | 2.54 | 2.72 | 2.85 | 2.46 | 2.68 | 2.75 | 3.02 | 2.92 | 2.65 | 2.72 | 2.86 | 3.23 | 3.32 | 3.39 | 3.47 | — | — | — | — | ||||||||
| Intuit Inc. | 0.35 | 0.38 | 0.37 | 0.35 | 0.34 | 0.38 | 0.37 | 0.38 | 0.40 | 0.48 | 0.47 | 0.45 | 0.43 | 0.46 | 0.25 | 0.24 | 0.24 | 0.31 | 0.49 | 0.70 | 0.13 | 0.19 | 0.20 | 0.12 | 0.11 | 0.15 | 0.15 | ||||||||
| Microsoft Corp. | 0.19 | 0.21 | 0.21 | 0.25 | 0.32 | 0.37 | 0.39 | 0.29 | 0.31 | 0.33 | 0.35 | 0.37 | 0.38 | 0.40 | 0.42 | 0.48 | 0.50 | 0.53 | 0.58 | 0.60 | 0.65 | 0.70 | 0.72 | 0.77 | 0.83 | 0.86 | 0.95 | ||||||||
| Palantir Technologies Inc. | — | — | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.08 | 0.10 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 | 0.12 | 0.12 | 0.25 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.10 | 0.14 | 0.17 | 0.26 | 0.34 | 0.50 | 1.02 | 1.30 | 3.20 | 5.42 | 7.80 | 18.82 | 11.70 | 33.58 | 7.65 | 5.58 | 3.52 | 3.35 | 4.61 | 3.10 | 2.45 | 1.13 | 1.20 | 0.90 | 1.08 | 1.45 | 1.30 | ||||||||
| Salesforce Inc. | 0.20 | 0.20 | 0.21 | 0.21 | 0.22 | 0.22 | 0.23 | 0.24 | 0.24 | 0.23 | 0.24 | 0.24 | 0.25 | 0.30 | 0.14 | 0.15 | 0.14 | 0.15 | 0.17 | 0.17 | 0.18 | 0.35 | 0.38 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.24 | 0.24 | 0.24 | 0.26 | 0.28 | 0.30 | 0.31 | 0.32 | 0.40 | 0.44 | 0.47 | 0.51 | 0.55 | 0.60 | 0.63 | 0.64 | 0.69 | 0.75 | 0.82 | 0.48 | 0.53 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 1.08 | 0.07 | 0.08 | 0.09 | 0.09 | 0.10 | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.12 | 0.11 | 0.13 | 0.13 | 0.14 | 0.13 | 0.14 | 0.15 | 0.18 | 0.21 | 0.03 | 0.04 | 0.07 | 0.14 | ||||||||
| Workday Inc. | 0.39 | 0.40 | 0.41 | 0.41 | 0.49 | 0.52 | 0.55 | 0.58 | 0.60 | 0.86 | 0.92 | 0.46 | 0.51 | 0.56 | 0.63 | 0.68 | 0.72 | 0.75 | 0.81 | 0.63 | 0.67 | 0.70 | 0.75 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to equity (including operating lease liability) = Total debt (including operating lease liability) ÷ Total Accenture plc shareholders’ equity
= 8,165,258 ÷ 30,554,725 = 0.27
2 Click competitor name to see calculations.
- Total debt (including operating lease liability)
- The total debt exhibited a stable, low level from November 2018 through August 2019. A sharp increase occurred starting November 2019, with debt rising dramatically to over 3.3 billion USD. From that point through early 2024, total debt fluctuated moderately around a level slightly above 3 billion USD, showing some tendency toward gradual reduction by mid-2023. However, a significant spike was observed in the period from February 2024 to May 2025, where total debt surged sharply, peaking above 8 billion USD. This suggests a recent expansion in leverage or increased liabilities.
- Total Accenture plc shareholders’ equity
- Shareholders’ equity showed consistent growth throughout the entire period under review. Beginning at approximately 12.7 billion USD in late 2018, equity increased steadily each quarter, reaching over 30.5 billion USD by May 2025. This upward trend indicates positive retained earnings accumulation or capital issuance, reflecting an overall strengthening of the company’s equity base.
- Debt to equity (including operating lease liability)
- The debt-to-equity ratio remained at zero during the initial four quarters. With the rise in debt starting in late 2019, this ratio stabilized around 0.22, then gradually declined over the subsequent quarters, reaching roughly 0.12 by mid-2023. This decline signals that equity growth outpaced debt increases, improving the company’s leverage profile. However, after mid-2023, the ratio increased again, rising to approximately 0.28 by mid-2025. This change corresponds with the sharp debt increase and signals a higher leverage risk during this recent period.
- Overall Financial Trends and Insights
- The data reflects two main phases: a low-debt, steadily growing equity phase lasting until late 2019, followed by a period marked by elevated debt levels with eventual significant debt accumulation after early 2024. While equity consistently grew, indicating financial strength and retained earnings, the recent substantial increase in debt and corresponding rise in leverage ratio suggest potential strategic financing moves or investment activities that warrant further detailed investigation. The improved leverage ratio over several years before 2023 denotes prudent balance sheet management that was later altered by aggressive debt escalation.
Debt to Capital
Accenture PLC, debt to capital calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total Accenture plc shareholders’ equity | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | 19,529,454) | 19,342,845) | 18,308,027) | 17,906,501) | 17,000,536) | 16,014,606) | 15,474,589) | 15,167,138) | 14,409,008) | 13,737,324) | 13,337,033) | 12,678,856) | ||||||||
| Total capital | 35,705,764) | 34,403,343) | 34,344,276) | 29,313,503) | 29,423,392) | 27,305,629) | 26,823,879) | 25,840,742) | 25,386,685) | 23,818,589) | 23,029,163) | 22,161,165) | 21,449,408) | 20,621,267) | 20,418,172) | 19,595,007) | 19,413,631) | 18,376,390) | 17,975,307) | 17,062,408) | 16,083,645) | 15,494,469) | 15,186,771) | 14,431,666) | 13,761,316) | 13,361,151) | 12,703,479) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to capital1 | 0.14 | 0.15 | 0.15 | 0.03 | 0.06 | 0.01 | 0.01 | 0.01 | 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 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Capital, Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.35 | 0.32 | 0.29 | 0.28 | 0.27 | 0.19 | 0.18 | 0.19 | 0.20 | 0.20 | 0.23 | 0.22 | 0.23 | 0.23 | 0.22 | 0.22 | 0.23 | 0.23 | 0.24 | 0.26 | 0.27 | 0.28 | 0.28 | 0.29 | 0.29 | 0.29 | ||||||||
| Cadence Design Systems Inc. | — | — | 0.34 | 0.35 | 0.38 | 0.24 | 0.15 | 0.16 | 0.17 | 0.18 | 0.19 | 0.21 | 0.23 | 0.12 | 0.11 | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.23 | 0.24 | 0.24 | — | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 0.20 | 0.21 | 0.23 | 0.24 | 0.27 | 0.29 | 0.32 | 0.34 | 0.36 | 0.38 | 0.40 | 0.42 | 0.44 | 0.45 | 0.47 | 0.46 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | 1.80 | 1.89 | 1.77 | 1.64 | 1.56 | 1.59 | 1.59 | 1.57 | 1.67 | 1.72 | 1.76 | 1.76 | 1.59 | 1.49 | 1.10 | 0.89 | 0.81 | 0.73 | 0.72 | 0.79 | 0.82 | 0.79 | 0.74 | 0.75 | 0.77 | 0.79 | ||||||||
| International Business Machines Corp. | — | — | 0.70 | 0.67 | 0.70 | 0.70 | 0.72 | 0.72 | 0.71 | 0.72 | 0.73 | 0.70 | 0.72 | 0.72 | 0.74 | 0.73 | 0.71 | 0.72 | 0.73 | 0.75 | 0.76 | 0.76 | 0.76 | — | — | — | — | ||||||||
| Intuit Inc. | 0.24 | 0.26 | 0.25 | 0.25 | 0.24 | 0.26 | 0.26 | 0.26 | 0.27 | 0.31 | 0.30 | 0.30 | 0.29 | 0.30 | 0.17 | 0.17 | 0.17 | 0.21 | 0.31 | 0.40 | 0.08 | 0.10 | 0.10 | 0.10 | 0.10 | 0.13 | 0.13 | ||||||||
| Microsoft Corp. | 0.12 | 0.13 | 0.14 | 0.16 | 0.21 | 0.24 | 0.24 | 0.19 | 0.20 | 0.21 | 0.22 | 0.23 | 0.23 | 0.25 | 0.26 | 0.29 | 0.30 | 0.32 | 0.34 | 0.35 | 0.37 | 0.39 | 0.40 | 0.41 | 0.44 | 0.44 | 0.47 | ||||||||
| Oracle Corp. | 0.85 | 0.87 | 0.89 | 0.91 | 0.94 | 0.96 | 0.97 | 0.99 | 1.03 | 1.05 | 1.07 | 1.09 | 1.12 | 1.15 | 1.02 | 0.94 | 0.89 | 0.90 | 0.88 | 0.86 | 0.78 | 0.77 | 0.75 | — | — | — | — | ||||||||
| Palantir Technologies 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 | 0.10 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.05 | 0.08 | 0.10 | 0.16 | 0.21 | 0.29 | 0.47 | 0.53 | 0.75 | 0.83 | 0.88 | 0.95 | 0.92 | 0.97 | 0.88 | 0.84 | 0.76 | 0.75 | 0.81 | 0.74 | 0.66 | 0.48 | 0.49 | 0.47 | 0.52 | 0.59 | 0.56 | ||||||||
| Salesforce Inc. | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.19 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.15 | 0.16 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.13 | 0.13 | 0.14 | 0.15 | 0.16 | 0.16 | 0.17 | 0.18 | 0.21 | 0.23 | 0.25 | 0.26 | 0.28 | 0.30 | 0.31 | 0.33 | 0.35 | 0.37 | 0.39 | 0.22 | 0.24 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 0.50 | 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 | 0.02 | 0.02 | 0.02 | 0.02 | 0.03 | 0.03 | 0.05 | 0.07 | 0.03 | 0.03 | 0.07 | 0.13 | ||||||||
| Workday Inc. | 0.26 | 0.26 | 0.27 | 0.27 | 0.31 | 0.32 | 0.33 | 0.35 | 0.35 | 0.45 | 0.46 | 0.29 | 0.30 | 0.32 | 0.35 | 0.35 | 0.37 | 0.39 | 0.41 | 0.34 | 0.35 | 0.36 | 0.37 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to capital = Total debt ÷ Total capital
= 5,151,039 ÷ 35,705,764 = 0.14
2 Click competitor name to see calculations.
- Total Debt
-
The total debt remained relatively stable from November 2018 to August 2020, fluctuating around the range of approximately 19,600 to 69,000 thousand US dollars, with a notable peak in May 2020. From November 2020 to November 2022, total debt showed a slight declining tendency, oscillating between roughly 54,000 and 65,000 thousand US dollars. Beginning in February 2023, total debt experienced a substantial increase, surging dramatically to over 1.4 million thousand US dollars by November 2023, and further to approximately 5.15 million thousand US dollars by May 2025, indicating a significant rise in leverage over this period.
- Total Capital
-
Total capital demonstrated consistent growth throughout the entire period, beginning at around 12.7 million thousand US dollars in November 2018 and increasing steadily to approximately 34.4 million thousand US dollars by May 2025. The growth was relatively linear with no abrupt declines, reflecting ongoing capitalization and presumably retained earnings or new equity influx. The gradual upward trend signifies expanding resource base or investment in capital assets.
- Debt to Capital Ratio
-
For much of the period up to August 2023, the debt to capital ratio remained minimal, essentially zero, indicating either no debt or negligible debt relative to total capital. Starting in November 2023, the ratio rose sharply to 0.06 and increased further to a peak of 0.15 by May 2025. This reflects the marked escalation in debt relative to capital that emerged concurrently with the total debt increase. Despite this rise, the debt to capital ratio remains below 20%, suggesting that while leverage has increased significantly, the company still maintains a moderate capital structure.
- Summary
-
Overall, the data reveals a company with steadily expanding total capital over the years, paralleled initially by very low levels of debt. A pronounced shift occurred in early 2023 with a sharp increase in total debt, leading to a corresponding rise in the debt to capital ratio. This suggests a strategic change in financing approach, possibly indicative of increased borrowing to fund growth, acquisitions, or operational needs. Although leverage has increased substantially, the debt still constitutes a relatively small proportion of overall capital, implying a cautious balance between equity and debt financing.
Debt to Capital (including Operating Lease Liability)
Accenture PLC, debt to capital (including operating lease liability) calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Current operating lease liabilities | 724,278) | 691,158) | 709,964) | 726,202) | 680,484) | 682,553) | 683,628) | 690,417) | 690,584) | 700,570) | 707,863) | 707,598) | 733,805) | 728,381) | 738,285) | 744,164) | 733,571) | 733,082) | 732,878) | 756,057) | 738,642) | 737,781) | 710,787) | —) | —) | —) | —) | ||||||||
| Non-current operating lease liabilities | 2,289,941) | 2,211,882) | 2,282,652) | 2,369,490) | 2,242,156) | 2,293,252) | 2,249,466) | 2,310,714) | 2,351,375) | 2,451,961) | 2,537,632) | 2,563,090) | 2,694,489) | 2,763,519) | 2,674,020) | 2,696,917) | 2,643,509) | 2,672,945) | 2,627,185) | 2,667,584) | 2,704,540) | 2,652,548) | 2,651,651) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 8,165,258) | 8,060,330) | 8,146,397) | 4,120,549) | 4,601,543) | 3,158,581) | 3,080,222) | 3,149,034) | 3,096,213) | 3,208,501) | 3,300,047) | 3,325,756) | 3,488,608) | 3,553,144) | 3,477,278) | 3,506,634) | 3,447,866) | 3,474,390) | 3,428,869) | 3,485,513) | 3,512,221) | 3,410,209) | 3,382,071) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total Accenture plc shareholders’ equity | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | 19,529,454) | 19,342,845) | 18,308,027) | 17,906,501) | 17,000,536) | 16,014,606) | 15,474,589) | 15,167,138) | 14,409,008) | 13,737,324) | 13,337,033) | 12,678,856) | ||||||||
| Total capital (including operating lease liability) | 38,719,983) | 37,306,383) | 37,336,892) | 32,409,195) | 32,346,032) | 30,281,434) | 29,756,973) | 28,841,873) | 28,428,644) | 26,971,120) | 26,274,658) | 25,431,853) | 24,877,702) | 24,113,167) | 23,830,477) | 23,036,088) | 22,790,711) | 21,782,417) | 21,335,370) | 20,486,049) | 19,526,827) | 18,884,798) | 18,549,209) | 14,431,666) | 13,761,316) | 13,361,151) | 12,703,479) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to capital (including operating lease liability)1 | 0.21 | 0.22 | 0.22 | 0.13 | 0.14 | 0.10 | 0.10 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.16 | 0.17 | 0.18 | 0.18 | 0.18 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Capital (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.36 | 0.33 | 0.30 | 0.29 | 0.29 | 0.21 | 0.20 | 0.21 | 0.22 | 0.23 | 0.25 | 0.24 | 0.25 | 0.25 | 0.24 | 0.25 | 0.25 | 0.26 | 0.26 | 0.29 | 0.30 | 0.31 | 0.28 | 0.29 | 0.29 | 0.29 | ||||||||
| CrowdStrike Holdings Inc. | 0.21 | 0.22 | 0.24 | 0.26 | 0.28 | 0.30 | 0.33 | 0.35 | 0.37 | 0.39 | 0.41 | 0.43 | 0.45 | 0.46 | 0.48 | 0.47 | 0.05 | 0.05 | 0.05 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | 1.79 | 1.87 | 1.76 | 1.63 | 1.55 | 1.58 | 1.57 | 1.56 | 1.65 | 1.70 | 1.74 | 1.74 | 1.56 | 1.47 | 1.09 | 0.90 | 0.82 | 0.74 | 0.73 | 0.80 | 0.83 | 0.81 | 0.74 | 0.75 | 0.77 | 0.79 | ||||||||
| International Business Machines Corp. | — | — | 0.71 | 0.68 | 0.71 | 0.71 | 0.73 | 0.73 | 0.72 | 0.73 | 0.74 | 0.71 | 0.73 | 0.73 | 0.75 | 0.74 | 0.73 | 0.73 | 0.74 | 0.76 | 0.77 | 0.77 | 0.78 | — | — | — | — | ||||||||
| Intuit Inc. | 0.26 | 0.28 | 0.27 | 0.26 | 0.25 | 0.28 | 0.27 | 0.28 | 0.29 | 0.32 | 0.32 | 0.31 | 0.30 | 0.31 | 0.20 | 0.20 | 0.19 | 0.24 | 0.33 | 0.41 | 0.11 | 0.16 | 0.17 | 0.10 | 0.10 | 0.13 | 0.13 | ||||||||
| Microsoft Corp. | 0.16 | 0.17 | 0.18 | 0.20 | 0.24 | 0.27 | 0.28 | 0.23 | 0.24 | 0.25 | 0.26 | 0.27 | 0.27 | 0.29 | 0.29 | 0.32 | 0.33 | 0.35 | 0.37 | 0.38 | 0.39 | 0.41 | 0.42 | 0.43 | 0.45 | 0.46 | 0.49 | ||||||||
| Palantir Technologies Inc. | — | — | 0.04 | 0.05 | 0.05 | 0.06 | 0.05 | 0.06 | 0.07 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.10 | 0.11 | 0.20 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.09 | 0.12 | 0.15 | 0.21 | 0.26 | 0.33 | 0.51 | 0.56 | 0.76 | 0.84 | 0.89 | 0.95 | 0.92 | 0.97 | 0.88 | 0.85 | 0.78 | 0.77 | 0.82 | 0.76 | 0.71 | 0.53 | 0.55 | 0.47 | 0.52 | 0.59 | 0.56 | ||||||||
| Salesforce Inc. | 0.16 | 0.17 | 0.17 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.19 | 0.20 | 0.23 | 0.13 | 0.13 | 0.13 | 0.13 | 0.14 | 0.15 | 0.15 | 0.26 | 0.27 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.19 | 0.19 | 0.19 | 0.21 | 0.22 | 0.23 | 0.24 | 0.24 | 0.29 | 0.31 | 0.32 | 0.34 | 0.36 | 0.37 | 0.39 | 0.39 | 0.41 | 0.43 | 0.45 | 0.33 | 0.35 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 0.52 | 0.07 | 0.07 | 0.08 | 0.08 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.11 | 0.11 | 0.11 | 0.10 | 0.11 | 0.12 | 0.12 | 0.12 | 0.12 | 0.13 | 0.15 | 0.17 | 0.03 | 0.03 | 0.07 | 0.13 | ||||||||
| Workday Inc. | 0.28 | 0.29 | 0.29 | 0.29 | 0.33 | 0.34 | 0.35 | 0.37 | 0.38 | 0.46 | 0.48 | 0.32 | 0.34 | 0.36 | 0.39 | 0.41 | 0.42 | 0.43 | 0.45 | 0.39 | 0.40 | 0.41 | 0.43 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to capital (including operating lease liability) = Total debt (including operating lease liability) ÷ Total capital (including operating lease liability)
= 8,165,258 ÷ 38,719,983 = 0.21
2 Click competitor name to see calculations.
The analysis of the quarterly financial data reveals notable trends in debt levels, total capital, and the debt-to-capital ratio over the observed periods.
- Total Debt (Including Operating Lease Liability)
- The total debt experienced a significant increase beginning in November 2019, surging from levels around 24,000 thousand USD to values exceeding 3,300,000 thousand USD. From this point forward, debt levels largely stabilized with minor fluctuations, except for a marked rise toward the end of the period, where the figure exceeded 8,100,000 thousand USD by May 2025. This suggests episodes of increased borrowing or financial obligations in the latter part of the timeframe.
- Total Capital (Including Operating Lease Liability)
- Total capital steadily increased throughout the entire period. Starting from approximately 12,700,000 thousand USD in late 2018, it grew consistently, albeit with some periods of accelerated growth. By May 2025, total capital reached nearly 38,700,000 thousand USD. This trend indicates consistent expansion in the company's overall capital base.
- Debt to Capital Ratio (Including Operating Lease Liability)
- The debt-to-capital ratio was negligible or recorded as zero until November 2019, reflecting very low debt relative to capital. Beginning in November 2019, the ratio rose sharply to about 0.18 and then generally declined, reaching a low near 0.10 during early 2024. This trend reflects an initial increase in leverage followed by debt being reduced in proportion to total capital. However, toward the end of the timeframe, the ratio increased again to over 0.20, indicating a renewed increase in leverage relative to the capital base.
In summary, the company initially maintained low leverage with modest debt levels relative to capital. A pronounced increase in debt occurred in late 2019, significantly changing the capital structure. Subsequently, total capital expanded continuously while the debt-to-capital ratio decreased gradually before rising again near the end. These patterns suggest phases of strategic financing changes, adjustments in debt management, and capital growth over the multi-year period.
Debt to Assets
Accenture PLC, debt to assets calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total assets | 63,362,028) | 59,869,756) | 59,868,070) | 55,932,363) | 54,141,319) | 51,307,471) | 51,531,354) | 51,245,305) | 50,128,275) | 47,727,289) | 47,115,774) | 47,263,390) | 46,095,198) | 44,317,837) | 43,674,743) | 43,175,843) | 42,124,884) | 39,985,401) | 38,268,311) | 37,078,593) | 35,057,319) | 33,503,430) | 33,170,712) | 29,789,880) | 28,156,360) | 27,390,208) | 26,706,412) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to assets1 | 0.08 | 0.09 | 0.09 | 0.02 | 0.03 | 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 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Assets, Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.22 | 0.21 | 0.19 | 0.19 | 0.19 | 0.13 | 0.12 | 0.12 | 0.13 | 0.14 | 0.15 | 0.15 | 0.16 | 0.16 | 0.15 | 0.16 | 0.16 | 0.16 | 0.17 | 0.18 | 0.19 | 0.19 | 0.20 | 0.21 | 0.21 | 0.21 | ||||||||
| Cadence Design Systems Inc. | — | — | 0.27 | 0.28 | 0.31 | 0.19 | 0.11 | 0.11 | 0.12 | 0.13 | 0.13 | 0.15 | 0.16 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.17 | 0.17 | 0.18 | — | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.13 | 0.14 | 0.15 | 0.17 | 0.18 | 0.19 | 0.20 | 0.22 | 0.24 | 0.26 | 0.27 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | 1.38 | 1.42 | 1.29 | 1.24 | 1.20 | 1.23 | 1.18 | 1.22 | 1.28 | 1.32 | 1.29 | 1.34 | 1.21 | 1.12 | 0.80 | 0.66 | 0.61 | 0.55 | 0.52 | 0.59 | 0.61 | 0.59 | 0.58 | 0.60 | 0.62 | 0.64 | ||||||||
| International Business Machines Corp. | — | — | 0.43 | 0.40 | 0.42 | 0.42 | 0.43 | 0.42 | 0.43 | 0.43 | 0.44 | 0.40 | 0.40 | 0.39 | 0.41 | 0.39 | 0.38 | 0.38 | 0.38 | 0.39 | 0.42 | 0.42 | 0.42 | — | — | — | — | ||||||||
| Intuit Inc. | 0.18 | 0.20 | 0.18 | 0.19 | 0.19 | 0.20 | 0.21 | 0.22 | 0.23 | 0.26 | 0.26 | 0.25 | 0.24 | 0.26 | 0.14 | 0.13 | 0.13 | 0.16 | 0.24 | 0.31 | 0.05 | 0.06 | 0.07 | 0.07 | 0.06 | 0.08 | 0.09 | ||||||||
| Microsoft Corp. | 0.08 | 0.08 | 0.09 | 0.10 | 0.14 | 0.16 | 0.16 | 0.11 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.16 | 0.16 | 0.17 | 0.19 | 0.20 | 0.21 | 0.21 | 0.23 | 0.25 | 0.25 | 0.25 | 0.28 | 0.28 | 0.30 | ||||||||
| Oracle Corp. | 0.60 | 0.60 | 0.59 | 0.62 | 0.64 | 0.66 | 0.65 | 0.67 | 0.70 | 0.71 | 0.70 | 0.69 | 0.72 | 0.73 | 0.67 | 0.64 | 0.59 | 0.64 | 0.62 | 0.62 | 0.53 | 0.52 | 0.51 | — | — | — | — | ||||||||
| Palantir Technologies 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 | 0.07 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.02 | 0.03 | 0.03 | 0.05 | 0.06 | 0.10 | 0.13 | 0.14 | 0.26 | 0.28 | 0.29 | 0.30 | 0.33 | 0.35 | 0.35 | 0.31 | 0.33 | 0.33 | 0.36 | 0.34 | 0.23 | 0.20 | 0.21 | 0.22 | 0.25 | 0.27 | 0.28 | ||||||||
| Salesforce Inc. | 0.09 | 0.09 | 0.10 | 0.09 | 0.10 | 0.10 | 0.10 | 0.11 | 0.12 | 0.11 | 0.11 | 0.11 | 0.12 | 0.15 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.05 | 0.06 | 0.09 | 0.10 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.13 | 0.13 | 0.14 | 0.15 | 0.17 | 0.17 | 0.18 | 0.19 | 0.22 | 0.11 | 0.11 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 0.42 | 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 | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.02 | 0.03 | 0.05 | 0.02 | 0.02 | 0.05 | 0.09 | ||||||||
| Workday Inc. | 0.18 | 0.18 | 0.19 | 0.18 | 0.21 | 0.22 | 0.22 | 0.22 | 0.24 | 0.31 | 0.32 | 0.18 | 0.20 | 0.20 | 0.22 | 0.21 | 0.23 | 0.24 | 0.25 | 0.19 | 0.20 | 0.21 | 0.21 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to assets = Total debt ÷ Total assets
= 5,151,039 ÷ 63,362,028 = 0.08
2 Click competitor name to see calculations.
- Total Debt
-
Total debt values show a relatively stable range from November 2018 through August 2023, generally fluctuating between approximately 19,633 and 70,786 thousand US dollars. Notably, starting from November 2023, there is a significant and sharp increase in total debt, rising dramatically from 147,903 thousand US dollars to over 5 million US dollars by May 2025. This sudden spike represents a substantial change in the company’s debt profile.
Prior to the November 2023 increase, total debt appeared to oscillate within a narrow range without substantial growth or decline, suggesting consistent financing strategy or debt management over the earlier periods.
- Total Assets
-
Total assets exhibit a steady upward trend over the entire period from November 2018 to May 2025. The asset base grows from approximately 26.7 billion US dollars to more than 63 billion US dollars, reflecting continuous expansion or asset accumulation over time.
The growth appears consistent with minor fluctuations, showing no abrupt decreases or volatility. The general trend supports a strong asset position and increasing operational or investment scale.
- Debt to Assets Ratio
-
The debt to assets ratio remains at zero or negligible values through much of the early periods, indicating minimal leverage relative to assets or possibly rounding effects in reporting.
However, a notable increase occurs beginning November 2023, where the ratio rises to 0.03 and subsequently fluctuates around 0.08 to 0.09. This correlated with the sharp increase in total debt while total assets continue their steady rise.
Though the ratio remains below 0.1, this change suggests a shift toward greater leverage and reliance on debt financing compared to prior years where leverage was essentially absent.
- Overall Insights
-
The financial data indicates a long period of stable debt levels paired with consistent asset growth. The company’s financial structure demonstrates a conservative leverage approach during the earlier years analyzed.
Beginning in the last year covered, the company undertakes a significant increase in borrowings, which results in increased leverage. Despite this, the debt to assets ratio remains modest, reflecting that asset growth accompanies the rise in debt, though the magnitude of borrowing relative to historical levels is substantially greater.
This pattern may indicate strategic financing decisions possibly related to expansion, acquisition, or other investment activities. The timing and scale of debt increase merit further investigation to understand the purpose, cost, and impact on financial risk.
Debt to Assets (including Operating Lease Liability)
Accenture PLC, debt to assets (including operating lease liability) calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Current portion of long-term debt and bank borrowings | 115,064) | 115,179) | 114,321) | 946,229) | 1,610,025) | 111,141) | 104,819) | 104,810) | 10,389) | 10,815) | 9,430) | 9,175) | 8,768) | 9,092) | 9,089) | 12,080) | 9,157) | 9,040) | 8,925) | 7,820) | 8,697) | 6,697) | 3,698) | 6,411) | 4,137) | 4,365) | 4,727) | ||||||||
| Long-term debt, excluding current portion | 5,035,975) | 5,042,111) | 5,039,460) | 78,628) | 68,878) | 71,635) | 42,309) | 43,093) | 43,865) | 45,155) | 45,122) | 45,893) | 51,546) | 52,152) | 55,884) | 53,473) | 61,629) | 59,323) | 59,881) | 54,052) | 60,342) | 13,183) | 15,935) | 16,247) | 19,855) | 19,753) | 19,896) | ||||||||
| Total debt | 5,151,039) | 5,157,290) | 5,153,781) | 1,024,857) | 1,678,903) | 182,776) | 147,128) | 147,903) | 54,254) | 55,970) | 54,552) | 55,068) | 60,314) | 61,244) | 64,973) | 65,553) | 70,786) | 68,363) | 68,806) | 61,872) | 69,039) | 19,880) | 19,633) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Current operating lease liabilities | 724,278) | 691,158) | 709,964) | 726,202) | 680,484) | 682,553) | 683,628) | 690,417) | 690,584) | 700,570) | 707,863) | 707,598) | 733,805) | 728,381) | 738,285) | 744,164) | 733,571) | 733,082) | 732,878) | 756,057) | 738,642) | 737,781) | 710,787) | —) | —) | —) | —) | ||||||||
| Non-current operating lease liabilities | 2,289,941) | 2,211,882) | 2,282,652) | 2,369,490) | 2,242,156) | 2,293,252) | 2,249,466) | 2,310,714) | 2,351,375) | 2,451,961) | 2,537,632) | 2,563,090) | 2,694,489) | 2,763,519) | 2,674,020) | 2,696,917) | 2,643,509) | 2,672,945) | 2,627,185) | 2,667,584) | 2,704,540) | 2,652,548) | 2,651,651) | —) | —) | —) | —) | ||||||||
| Total debt (including operating lease liability) | 8,165,258) | 8,060,330) | 8,146,397) | 4,120,549) | 4,601,543) | 3,158,581) | 3,080,222) | 3,149,034) | 3,096,213) | 3,208,501) | 3,300,047) | 3,325,756) | 3,488,608) | 3,553,144) | 3,477,278) | 3,506,634) | 3,447,866) | 3,474,390) | 3,428,869) | 3,485,513) | 3,512,221) | 3,410,209) | 3,382,071) | 22,658) | 23,992) | 24,118) | 24,623) | ||||||||
| Total assets | 63,362,028) | 59,869,756) | 59,868,070) | 55,932,363) | 54,141,319) | 51,307,471) | 51,531,354) | 51,245,305) | 50,128,275) | 47,727,289) | 47,115,774) | 47,263,390) | 46,095,198) | 44,317,837) | 43,674,743) | 43,175,843) | 42,124,884) | 39,985,401) | 38,268,311) | 37,078,593) | 35,057,319) | 33,503,430) | 33,170,712) | 29,789,880) | 28,156,360) | 27,390,208) | 26,706,412) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Debt to assets (including operating lease liability)1 | 0.13 | 0.13 | 0.14 | 0.07 | 0.08 | 0.06 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.09 | 0.09 | 0.10 | 0.10 | 0.10 | 0.00 | 0.00 | 0.00 | 0.00 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Debt to Assets (including Operating Lease Liability), Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 0.23 | 0.22 | 0.20 | 0.20 | 0.20 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.17 | 0.17 | 0.18 | 0.18 | 0.17 | 0.18 | 0.18 | 0.19 | 0.19 | 0.21 | 0.22 | 0.22 | 0.20 | 0.21 | 0.21 | 0.21 | ||||||||
| CrowdStrike Holdings Inc. | 0.10 | 0.11 | 0.12 | 0.12 | 0.14 | 0.14 | 0.15 | 0.16 | 0.17 | 0.19 | 0.20 | 0.21 | 0.24 | 0.25 | 0.27 | 0.29 | 0.02 | 0.03 | 0.03 | 0.00 | 0.00 | 0.00 | 0.00 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | 1.39 | 1.43 | 1.30 | 1.25 | 1.21 | 1.24 | 1.20 | 1.23 | 1.30 | 1.34 | 1.31 | 1.37 | 1.24 | 1.15 | 0.84 | 0.70 | 0.65 | 0.60 | 0.57 | 0.64 | 0.66 | 0.65 | 0.58 | 0.60 | 0.62 | 0.64 | ||||||||
| International Business Machines Corp. | — | — | 0.46 | 0.43 | 0.45 | 0.45 | 0.46 | 0.44 | 0.45 | 0.46 | 0.46 | 0.42 | 0.43 | 0.42 | 0.43 | 0.42 | 0.41 | 0.41 | 0.41 | 0.43 | 0.46 | 0.45 | 0.45 | — | — | — | — | ||||||||
| Intuit Inc. | 0.19 | 0.22 | 0.20 | 0.20 | 0.20 | 0.22 | 0.22 | 0.24 | 0.25 | 0.28 | 0.28 | 0.27 | 0.25 | 0.27 | 0.16 | 0.16 | 0.15 | 0.19 | 0.27 | 0.33 | 0.08 | 0.10 | 0.12 | 0.07 | 0.06 | 0.08 | 0.09 | ||||||||
| Microsoft Corp. | 0.11 | 0.12 | 0.12 | 0.13 | 0.17 | 0.19 | 0.19 | 0.15 | 0.16 | 0.16 | 0.17 | 0.17 | 0.18 | 0.19 | 0.19 | 0.20 | 0.22 | 0.23 | 0.24 | 0.24 | 0.26 | 0.27 | 0.27 | 0.27 | 0.30 | 0.30 | 0.32 | ||||||||
| Palantir Technologies Inc. | — | — | 0.04 | 0.04 | 0.04 | 0.05 | 0.05 | 0.05 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.15 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 0.03 | 0.04 | 0.05 | 0.07 | 0.09 | 0.12 | 0.15 | 0.16 | 0.28 | 0.30 | 0.32 | 0.32 | 0.36 | 0.38 | 0.38 | 0.35 | 0.37 | 0.37 | 0.39 | 0.38 | 0.28 | 0.25 | 0.27 | 0.22 | 0.25 | 0.27 | 0.28 | ||||||||
| Salesforce Inc. | 0.12 | 0.12 | 0.13 | 0.13 | 0.14 | 0.14 | 0.14 | 0.14 | 0.15 | 0.15 | 0.15 | 0.15 | 0.16 | 0.19 | 0.09 | 0.09 | 0.10 | 0.10 | 0.11 | 0.11 | 0.12 | 0.18 | 0.19 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 0.11 | 0.11 | 0.12 | 0.12 | 0.13 | 0.13 | 0.15 | 0.15 | 0.16 | 0.17 | 0.19 | 0.19 | 0.20 | 0.21 | 0.23 | 0.23 | 0.24 | 0.24 | 0.29 | 0.18 | 0.19 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 0.45 | 0.05 | 0.05 | 0.06 | 0.06 | 0.06 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.07 | 0.08 | 0.08 | 0.08 | 0.08 | 0.08 | 0.09 | 0.11 | 0.12 | 0.02 | 0.02 | 0.05 | 0.09 | ||||||||
| Workday Inc. | 0.20 | 0.21 | 0.21 | 0.20 | 0.24 | 0.24 | 0.25 | 0.24 | 0.26 | 0.33 | 0.34 | 0.20 | 0.23 | 0.24 | 0.25 | 0.26 | 0.28 | 0.28 | 0.29 | 0.23 | 0.25 | 0.26 | 0.26 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Debt to assets (including operating lease liability) = Total debt (including operating lease liability) ÷ Total assets
= 8,165,258 ÷ 63,362,028 = 0.13
2 Click competitor name to see calculations.
The financial data reveals several notable trends over the examined periods. Total debt, inclusive of operating lease liabilities, demonstrates significant fluctuations. Initially, from November 2018 through August 2019, total debt remains relatively low and stable, but starting November 2019, a sharp increase is observed, with values rising from approximately 3.38 million to over 8 million US dollars by May 2025. There is an especially pronounced jump between February 2024 and May 2024.
Total assets show a persistent upward trend throughout the time frame. Beginning at approximately 26.7 million US dollars in November 2018, total assets steadily increase, reaching nearly 63.4 million US dollars by May 2025. This growth appears relatively consistent, with no significant declines or volatility, indicating expansion in asset base over time.
The ratio of debt to assets, which includes operating lease liabilities, highlights the relationship between debt and asset base. In the initial periods (up to August 2019), this ratio is effectively zero, reflecting minimal debt in relation to assets. From November 2019 onwards, the ratio increases to approximately 0.1, suggesting a moderate rise in leverage. Over subsequent quarters, the ratio gradually declines, reaching a low around 0.06 between November 2020 and May 2024, implying improved asset coverage of debt or reduced leverage. However, at February 2024 and thereafter, the ratio again rises sharply to approximately 0.13–0.14 by May 2025, consistent with the earlier observed increase in total debt.
- Total debt trend
- Relatively low and stable through mid-2019; sharp increase from late 2019 onward with marked peaks in 2024 and 2025.
- Total assets trend
- Consistent growth throughout the time frame, nearly doubling from late 2018 to mid-2025 without significant setbacks.
- Debt to assets ratio
- Near zero at first, moderate rise at late 2019, gradual decline through 2020–2023 indicating improving leverage, followed by a notable increase in 2024–2025, reflecting rising debt levels relative to assets.
Overall, the data points toward a strategy involving increased leverage starting late 2019, reduced leverage during 2020–2023 indicating possible debt management or asset growth outpacing debt, and a renewed increase in leverage in 2024–2025. The steady asset growth supports an expanding operational base, while the periodic fluctuations in debt and debt-to-asset ratio suggest shifts in financing approach or capital structure decisions across the periods.
Financial Leverage
Accenture PLC, financial leverage calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Total assets | 63,362,028) | 59,869,756) | 59,868,070) | 55,932,363) | 54,141,319) | 51,307,471) | 51,531,354) | 51,245,305) | 50,128,275) | 47,727,289) | 47,115,774) | 47,263,390) | 46,095,198) | 44,317,837) | 43,674,743) | 43,175,843) | 42,124,884) | 39,985,401) | 38,268,311) | 37,078,593) | 35,057,319) | 33,503,430) | 33,170,712) | 29,789,880) | 28,156,360) | 27,390,208) | 26,706,412) | ||||||||
| Total Accenture plc shareholders’ equity | 30,554,725) | 29,246,053) | 29,190,495) | 28,288,646) | 27,744,489) | 27,122,853) | 26,676,751) | 25,692,839) | 25,332,431) | 23,762,619) | 22,974,611) | 22,106,097) | 21,389,094) | 20,560,023) | 20,353,199) | 19,529,454) | 19,342,845) | 18,308,027) | 17,906,501) | 17,000,536) | 16,014,606) | 15,474,589) | 15,167,138) | 14,409,008) | 13,737,324) | 13,337,033) | 12,678,856) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Financial leverage1 | 2.07 | 2.05 | 2.05 | 1.98 | 1.95 | 1.89 | 1.93 | 1.99 | 1.98 | 2.01 | 2.05 | 2.14 | 2.16 | 2.16 | 2.15 | 2.21 | 2.18 | 2.18 | 2.14 | 2.18 | 2.19 | 2.17 | 2.19 | 2.07 | 2.05 | 2.05 | 2.11 | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Financial Leverage, Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 2.46 | 2.29 | 2.14 | 2.05 | 2.02 | 1.86 | 1.80 | 1.84 | 1.88 | 1.88 | 1.93 | 1.86 | 1.88 | 1.89 | 1.84 | 1.81 | 1.85 | 1.84 | 1.83 | 1.91 | 1.99 | 2.03 | 1.97 | 1.96 | 1.98 | 1.98 | ||||||||
| Cadence Design Systems Inc. | — | — | 1.89 | 1.92 | 2.01 | 1.70 | 1.60 | 1.67 | 1.74 | 1.77 | 1.76 | 1.87 | 1.83 | 1.66 | 1.59 | 1.60 | 1.60 | 1.64 | 1.57 | 1.58 | 1.73 | 1.77 | 1.75 | — | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 2.55 | 2.52 | 2.70 | 2.88 | 2.87 | 3.00 | 3.20 | 3.43 | 3.40 | 3.39 | 3.48 | 3.53 | 3.48 | 3.47 | 3.39 | 3.14 | 2.15 | 2.04 | 2.02 | 1.89 | 1.75 | 1.61 | 6.29 | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | 12.73 | 7.07 | 4.87 | 4.85 | 6.33 | 7.25 | 6.41 | 4.95 | 5.12 | 5.37 | 5.73 | ||||||||
| International Business Machines Corp. | — | — | 5.42 | 5.02 | 5.49 | 5.57 | 5.90 | 6.00 | 5.60 | 5.96 | 6.19 | 5.80 | 6.27 | 6.57 | 7.00 | 6.98 | 6.49 | 6.69 | 6.95 | 7.57 | 7.27 | 7.50 | 7.67 | — | — | — | — | ||||||||
| Intuit Inc. | 1.82 | 1.77 | 1.83 | 1.74 | 1.68 | 1.76 | 1.68 | 1.61 | 1.64 | 1.72 | 1.69 | 1.69 | 1.68 | 1.69 | 1.53 | 1.57 | 1.58 | 1.65 | 1.85 | 2.14 | 1.64 | 1.80 | 1.70 | 1.68 | 1.70 | 1.91 | 1.77 | ||||||||
| Microsoft Corp. | 1.75 | 1.76 | 1.82 | 1.91 | 1.91 | 1.97 | 2.02 | 2.00 | 1.95 | 1.99 | 2.07 | 2.19 | 2.12 | 2.13 | 2.21 | 2.35 | 2.30 | 2.34 | 2.44 | 2.55 | 2.49 | 2.57 | 2.63 | 2.80 | 2.78 | 2.81 | 3.00 | ||||||||
| Oracle Corp. | 9.65 | 10.80 | 13.33 | 16.20 | 24.38 | 34.74 | 57.66 | 125.24 | — | — | — | — | — | — | — | 25.03 | 13.27 | 13.90 | 11.96 | 9.56 | 6.79 | 6.33 | 5.76 | — | — | — | — | ||||||||
| Palantir Technologies Inc. | — | — | 1.24 | 1.27 | 1.28 | 1.28 | 1.27 | 1.30 | 1.31 | 1.35 | 1.35 | 1.35 | 1.39 | 1.40 | 1.40 | 1.42 | 1.43 | 1.49 | 1.67 | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 3.04 | 3.29 | 3.45 | 3.87 | 4.01 | 4.20 | 6.82 | 8.29 | 11.50 | 18.06 | 24.69 | 58.35 | 32.88 | 88.29 | 20.09 | 16.14 | 9.59 | 9.15 | 11.68 | 8.23 | 8.73 | 4.47 | 4.50 | 4.16 | 4.31 | 5.33 | 4.63 | ||||||||
| Salesforce Inc. | 1.56 | 1.60 | 1.61 | 1.67 | 1.57 | 1.59 | 1.63 | 1.69 | 1.55 | 1.57 | 1.58 | 1.64 | 1.53 | 1.60 | 1.52 | 1.60 | 1.47 | 1.50 | 1.55 | 1.63 | 1.50 | 1.94 | 2.02 | — | — | — | — | ||||||||
| ServiceNow Inc. | — | — | 2.07 | 2.12 | 1.98 | 2.10 | 2.16 | 2.28 | 2.10 | 2.15 | 2.43 | 2.64 | 2.46 | 2.65 | 2.75 | 2.92 | 2.68 | 2.81 | 2.90 | 3.07 | 2.88 | 2.63 | 2.73 | — | — | — | — | ||||||||
| Synopsys Inc. | — | 2.40 | 1.40 | 1.45 | 1.51 | 1.54 | 1.58 | 1.68 | 1.67 | 1.68 | 1.70 | 1.71 | 1.66 | 1.66 | 1.65 | 1.65 | 1.65 | 1.64 | 1.64 | 1.64 | 1.67 | 1.71 | 1.74 | 1.57 | 1.56 | 1.58 | 1.68 | ||||||||
| Workday Inc. | 1.90 | 1.95 | 1.95 | 2.04 | 2.10 | 2.19 | 2.23 | 2.41 | 2.29 | 2.58 | 2.68 | 2.31 | 2.24 | 2.36 | 2.53 | 2.66 | 2.55 | 2.64 | 2.78 | 2.74 | 2.65 | 2.71 | 2.85 | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
1 Q3 2025 Calculation
Financial leverage = Total assets ÷ Total Accenture plc shareholders’ equity
= 63,362,028 ÷ 30,554,725 = 2.07
2 Click competitor name to see calculations.
The financial data reveals several noteworthy trends in the company’s asset base, equity, and leverage ratios over the analyzed periods.
- Total assets
- Total assets show a consistent upward trend from November 2018 through to the forecasted period ending November 2025. Starting at approximately $26.7 billion, assets grow steadily each quarter, reaching close to $63.4 billion by the end of the timeline. This indicates persistent asset accumulation, reflecting ongoing investments, expansions, or retained earnings.
- Total shareholders’ equity
- Shareholders’ equity also exhibits a steady increase throughout the periods, rising from about $12.7 billion to approximately $30.6 billion by November 2025. The growth in equity is consistent, suggesting sustained profitability and/or capital contributions over time. The equity growth aligns proportionally with the asset base growth, indicating balanced financial management and reinvestment strategies.
- Financial leverage
- The financial leverage ratio remains relatively stable, fluctuating slightly around the range of 2.0 to 2.2. Initially, leverage is above 2.1, experiences minor variations including a gradual decline trend starting in early 2022 to about 1.89 by February 2024, and then returns near to previous levels by November 2025. This pattern suggests cautious debt management relative to equity, maintaining a consistent capital structure without excessive leveraging despite asset growth.
In summary, the data indicates a healthy and steady growth trajectory for the company’s asset and equity bases, accompanied by prudent leverage levels. The stable financial leverage ratio implies the company is managing its liabilities in proportion to equity effectively, supporting sustainable long-term growth.
Interest Coverage
Accenture PLC, interest coverage calculation (quarterly data)
| May 31, 2025 | Feb 28, 2025 | Nov 30, 2024 | Aug 31, 2024 | May 31, 2024 | Feb 29, 2024 | Nov 30, 2023 | Aug 31, 2023 | May 31, 2023 | Feb 28, 2023 | Nov 30, 2022 | Aug 31, 2022 | May 31, 2022 | Feb 28, 2022 | Nov 30, 2021 | Aug 31, 2021 | May 31, 2021 | Feb 28, 2021 | Nov 30, 2020 | Aug 31, 2020 | May 31, 2020 | Feb 29, 2020 | Nov 30, 2019 | Aug 31, 2019 | May 31, 2019 | Feb 28, 2019 | Nov 30, 2018 | |||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Selected Financial Data (US$ in thousands) | |||||||||||||||||||||||||||||||||||
| Net income attributable to Accenture plc | 2,197,501) | 1,788,075) | 2,278,894) | 1,684,301) | 1,932,183) | 1,674,859) | 1,973,444) | 1,372,963) | 2,009,996) | 1,523,648) | 1,964,950) | 1,665,128) | 1,786,075) | 1,634,942) | 1,791,024) | 1,416,248) | 1,549,426) | 1,440,859) | 1,500,276) | 1,287,929) | 1,228,202) | 1,234,740) | 1,356,968) | 1,130,427) | 1,249,516) | 1,124,449) | 1,274,720) | ||||||||
| Add: Net income attributable to noncontrolling interest | 46,462) | 34,366) | 37,296) | 34,365) | 49,165) | 34,343) | 36,537) | 35,249) | 38,339) | 27,035) | 31,350) | 27,257) | 33,241) | 22,587) | 28,706) | 21,175) | 20,146) | 20,634) | 21,781) | 17,495) | 24,437) | 17,342) | 18,200) | 15,121) | 19,133) | 16,271) | 16,604) | ||||||||
| Add: Income tax expense | 707,176) | 466,333) | 639,055) | 613,895) | 673,022) | 386,537) | 606,672) | 550,915) | 583,346) | 396,223) | 605,318) | 552,576) | 675,308) | 392,921) | 586,402) | 480,382) | 524,429) | 300,950) | 464,810) | 477,931) | 428,134) | 257,474) | 425,479) | 415,204) | 435,658) | 235,534) | 319,160) | ||||||||
| Add: Interest expense | 67,601) | 64,669) | 30,042) | 22,835) | 11,334) | 10,305) | 14,495) | 17,403) | 11,208) | 11,634) | 7,280) | 12,871) | 12,050) | 11,216) | 11,183) | 12,977) | 28,739) | 8,922) | 8,854) | 14,069) | 4,961) | 8,567) | 5,474) | 7,491) | 5,348) | 5,619) | 4,505) | ||||||||
| Earnings before interest and tax (EBIT) | 3,018,740) | 2,353,443) | 2,985,287) | 2,355,396) | 2,665,704) | 2,106,044) | 2,631,148) | 1,976,530) | 2,642,889) | 1,958,540) | 2,608,898) | 2,257,832) | 2,506,674) | 2,061,666) | 2,417,315) | 1,930,782) | 2,122,740) | 1,771,365) | 1,995,721) | 1,797,424) | 1,685,734) | 1,518,123) | 1,806,121) | 1,568,243) | 1,709,655) | 1,381,873) | 1,614,989) | ||||||||
| Solvency Ratio | |||||||||||||||||||||||||||||||||||
| Interest coverage1 | 57.86 | 80.38 | 135.71 | 165.48 | 175.20 | 175.18 | 168.23 | 193.31 | 220.23 | 212.89 | 217.31 | 195.34 | 188.01 | 133.08 | 133.32 | 131.46 | 126.89 | 196.99 | 191.96 | 205.84 | 248.30 | 245.62 | 270.18 | 273.26 | — | — | — | ||||||||
| Benchmarks | |||||||||||||||||||||||||||||||||||
| Interest Coverage, Competitors2 | |||||||||||||||||||||||||||||||||||
| Adobe Inc. | — | 37.00 | 40.93 | 42.01 | 46.90 | 53.43 | 58.12 | 61.17 | 58.59 | 55.57 | 53.27 | 54.64 | 54.21 | 54.34 | 53.39 | 51.49 | 49.52 | 45.92 | 42.50 | 37.00 | 32.36 | 28.08 | 23.87 | 21.38 | — | — | — | ||||||||
| Cadence Design Systems Inc. | — | — | 15.95 | 19.37 | 24.99 | 33.48 | 36.67 | 36.43 | 32.16 | 34.13 | 38.63 | 46.58 | 57.84 | 58.34 | 52.92 | 46.26 | 44.21 | 40.38 | 35.68 | 31.50 | — | — | — | — | — | — | — | ||||||||
| CrowdStrike Holdings Inc. | 7.50 | 9.33 | 7.64 | 5.77 | 1.41 | -1.80 | -4.04 | -5.31 | -4.72 | -4.71 | -5.09 | -5.34 | -6.41 | -8.16 | -12.40 | -55.36 | -151.33 | -185.47 | -226.03 | -315.25 | — | — | — | — | — | — | — | ||||||||
| Fair Isaac Corp. | — | 7.04 | 6.96 | 7.08 | 7.03 | 7.07 | 6.84 | 6.79 | 6.72 | 6.67 | 7.09 | 7.83 | 8.91 | 11.63 | 12.49 | 12.80 | 12.23 | 9.16 | 8.21 | 7.09 | 6.72 | 6.92 | 6.54 | 6.44 | — | — | — | ||||||||
| International Business Machines Corp. | — | — | 4.39 | 4.39 | 4.69 | 6.33 | 6.21 | 6.41 | 6.44 | 2.34 | 2.25 | 1.95 | 1.59 | 6.01 | 5.40 | 5.19 | 3.79 | 4.56 | 4.97 | 4.60 | — | — | — | — | — | — | — | ||||||||
| Intuit Inc. | 18.45 | 16.48 | 15.76 | 15.67 | 15.74 | 14.07 | 13.20 | 13.05 | 14.66 | 16.17 | 19.99 | 32.38 | 55.36 | 62.71 | 93.29 | 89.14 | 92.00 | 89.58 | 120.30 | 158.00 | 158.50 | 164.67 | 148.46 | 126.40 | — | — | — | ||||||||
| Oracle Corp. | 4.96 | 4.81 | 4.60 | 4.34 | 4.08 | 3.88 | 3.74 | 3.60 | 3.96 | 4.41 | 3.33 | 3.78 | 3.98 | 4.23 | 6.06 | 6.21 | 6.27 | 6.48 | 6.76 | 7.05 | — | — | — | — | — | — | — | ||||||||
| Palantir Technologies Inc. | — | — | — | — | 3,786.90 | 499.52 | 149.97 | 69.33 | 34.43 | -5.32 | -49.82 | -87.97 | -176.15 | -201.09 | -194.27 | -133.20 | — | — | — | — | — | — | — | — | — | — | — | ||||||||
| Palo Alto Networks Inc. | 427.74 | 269.85 | 163.77 | 120.07 | 72.96 | 46.08 | 35.96 | 21.82 | 10.40 | 4.05 | -1.99 | -6.56 | -4.28 | -3.42 | -2.65 | -1.85 | -1.68 | -1.49 | -1.36 | -1.61 | -1.55 | -0.92 | -0.09 | 0.11 | — | — | — | ||||||||
| Synopsys Inc. | — | 15.86 | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | ||||||||
Based on: 10-Q (reporting date: 2025-05-31), 10-Q (reporting date: 2025-02-28), 10-Q (reporting date: 2024-11-30), 10-K (reporting date: 2024-08-31), 10-Q (reporting date: 2024-05-31), 10-Q (reporting date: 2024-02-29), 10-Q (reporting date: 2023-11-30), 10-K (reporting date: 2023-08-31), 10-Q (reporting date: 2023-05-31), 10-Q (reporting date: 2023-02-28), 10-Q (reporting date: 2022-11-30), 10-K (reporting date: 2022-08-31), 10-Q (reporting date: 2022-05-31), 10-Q (reporting date: 2022-02-28), 10-Q (reporting date: 2021-11-30), 10-K (reporting date: 2021-08-31), 10-Q (reporting date: 2021-05-31), 10-Q (reporting date: 2021-02-28), 10-Q (reporting date: 2020-11-30), 10-K (reporting date: 2020-08-31), 10-Q (reporting date: 2020-05-31), 10-Q (reporting date: 2020-02-29), 10-Q (reporting date: 2019-11-30), 10-K (reporting date: 2019-08-31), 10-Q (reporting date: 2019-05-31), 10-Q (reporting date: 2019-02-28), 10-Q (reporting date: 2018-11-30).
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)
= (3,018,740 + 2,353,443 + 2,985,287 + 2,355,396)
÷ (67,601 + 64,669 + 30,042 + 22,835)
= 57.86
2 Click competitor name to see calculations.
The analysis of the earnings before interest and tax (EBIT) over the reported periods reveals an overall upward trend with noticeable fluctuations. Starting from approximately 1.61 billion US dollars in late 2018, EBIT experienced some volatility but generally increased, reaching peaks above 2.6 billion US dollars in late 2022 and mid-2024. The largest values were observed in the periods Nov 30, 2024, and May 31, 2025, indicating significant growth relative to the earlier years. Despite some declines in certain quarters, the overall trajectory of EBIT suggests sustained operational profitability expansion.
Interest expense shows a different pattern, with values fluctuating but exhibiting an upward tendency over the observed timeframe. Initial interest costs were relatively low, around 4,500 to 8,500 thousand US dollars, but by mid-2024 and later periods, expenses rose markedly, reaching over 60 thousand US dollars by May 31, 2025. This increase in interest expense could suggest a higher cost of debt or increased borrowing, which may represent a growing financial burden or changes in the company's capital structure.
The interest coverage ratio, which measures the ability to cover interest expenses with EBIT, demonstrates a declining trend over the reporting periods. Early data suggest very high coverage ratios above 200 in some quarters of 2019 and 2020, signifying strong ability to meet interest obligations from operating profits. However, this ratio decreased progressively, with sharper declines observed from 2023 onward, dropping to levels below 60 by mid-2025. The decreasing interest coverage ratio, paired with rising interest expenses, indicates a reduction in financial flexibility and potentially increased risk related to debt servicing capacity, despite growing EBIT.
- Earnings Before Interest and Tax (EBIT)
- Displayed consistent growth with fluctuations. Peaked near 3 billion US dollars in late periods. Indicates strengthening operational profitability.
- Interest Expense
- Initially stable, followed by a significant upward shift, especially from 2023 onward. Reflects increased financial costs and possibly higher leverage.
- Interest Coverage Ratio
- Started very high, implying comfortable interest payments, but steadily declined to below 60 by mid-2025, suggesting decreased ability to cover interest expenses despite increased EBIT.