Name: Fair Isaac Corp. (NYSE:FICO) | Common-Size Assets
Creator: Stock Analysis on Net

Common-Size Balance Sheet: Assets

Fair Isaac Corp., common-size consolidated balance sheet: assets

	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Cash and cash equivalents	8.77%	8.68%	9.24%	12.46%	9.80%	7.42%
Accounts receivable, net	24.84%	24.63%	22.36%	19.91%	20.81%	20.75%
Prepaid expenses and other current assets	2.33%	2.01%	2.02%	2.78%	2.65%	3.62%
Current assets	35.94%	35.32%	33.61%	35.14%	33.25%	31.79%
Marketable securities	2.64%	2.10%	1.70%	2.03%	1.59%	1.41%
Property and equipment, net	2.24%	0.70%	1.22%	1.78%	2.89%	3.70%
Operating lease right-of-use assets	1.72%	1.63%	2.54%	3.02%	3.59%	0.00%
Goodwill	45.56%	49.09%	52.78%	50.27%	50.58%	56.06%
Intangible assets, net	0.00%	0.06%	0.14%	0.26%	0.58%	0.99%
Deferred income taxes	5.04%	3.75%	0.82%	1.31%	0.91%	0.42%
Other assets	6.86%	7.35%	7.19%	6.18%	6.62%	5.64%
Non-current assets	64.06%	64.68%	66.39%	64.86%	66.75%	68.21%
Total assets	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%

Based on: 10-K (reporting date: 2024-09-30), 10-K (reporting date: 2023-09-30), 10-K (reporting date: 2022-09-30), 10-K (reporting date: 2021-09-30), 10-K (reporting date: 2020-09-30), 10-K (reporting date: 2019-09-30).

The asset composition of the balance sheet reveals a gradual shift toward increased liquidity, with current assets growing from 31.79% of total assets in 2019 to 35.94% by 2024. Conversely, non-current assets have experienced a proportional decline, moving from 68.21% to 64.06% over the same period. This trend indicates a strategic migration toward a more liquid asset base.

Liquidity and Current Asset Trends: Accounts receivable represent the most significant growth area within current assets, increasing steadily from 20.75% in 2019 to 24.84% in 2024. This suggests a higher concentration of capital tied up in credit extended to customers. Cash and cash equivalents peaked in 2021 at 12.46% before stabilizing between 8.68% and 8.77% in the most recent two fiscal years. Marketable securities have remained a minor component but showed a slight upward trajectory, reaching 2.64% by 2024.
Intangible Assets and Goodwill: Goodwill is the dominant component of the total asset base, although its relative weight has declined from a high of 56.06% in 2019 to 45.56% in 2024. Net intangible assets have seen a precipitous decline, falling from 0.99% in 2019 to negligible levels by 2023 and 2024, indicating the systematic amortization or impairment of these assets over time.
Fixed and Other Non-Current Assets: Property and equipment, net, have generally trended downward from 3.70% in 2019 to 2.24% in 2024, reflecting an asset-light operational model. A notable increase is observed in deferred income taxes, which rose from 0.42% in 2019 to 5.04% in 2024, marking a significant shift in the composition of non-current assets. Operating lease right-of-use assets, introduced in 2020 at 3.59%, have since declined to 1.72% by 2024.

Overall, the balance sheet is characterized by a diminishing reliance on long-term intangible assets and goodwill, complemented by an increase in receivables and deferred tax assets. The overall trajectory suggests a transition toward a more fluid asset structure while maintaining a high proportion of acquired intangible value.

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