Stock Analysis on Net
Stock Analysis on Net

Fair Isaac Corp. (NYSE:FICO)

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Common-Size Balance Sheet: Liabilities and Stockholders’ Equity

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Fair Isaac Corp., common-size consolidated balance sheet: liabilities and stockholders’ equity

Microsoft Excel
Sep 30, 2024 Sep 30, 2023 Sep 30, 2022 Sep 30, 2021 Sep 30, 2020 Sep 30, 2019
Accounts payable
Accrued compensation and employee benefits
Interest payable
Current finance lease liabilities
Other
Other accrued liabilities
Deferred revenue
Current maturities on debt
Current liabilities
Long-term debt, excluding current maturities
Non-current operating lease liabilities
Non-current finance lease liabilities
Other liabilities
Non-current liabilities
Total liabilities
Preferred stock, $0.01 par value; none issued and outstanding
Common stock, $0.01 par value
Additional paid-in-capital
Treasury stock, at cost
Retained earnings
Accumulated other comprehensive loss
Stockholders’ equity (deficit)
Total liabilities and stockholders’ equity (deficit)

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).

Liabilities Composition Trends
Current liabilities as a percentage of total liabilities and stockholders’ equity showed a notable decline from 34.24% in 2019 to 22.14% in 2024, reflecting a reduction in short-term obligations relative to the company's capital structure. Within current liabilities, the category of current maturities on debt fluctuated significantly, initially dropping from 15.21% in 2019 to 5.91% in 2020, then spiking back to 15.95% in 2021, before steadily decreasing to 0.87% by 2024. This suggests a variable schedule of debt repayments coming due in the near term.
Long-term debt, excluding current maturities, demonstrated a sharp increase over the period, climbing from 42.33% in 2019 to 127.72% in 2024. This dramatic rise indicates a considerable accumulation of long-term borrowing relative to the company’s total liabilities and equity, possibly to finance strategic investments or operations. Correspondingly, non-current liabilities surged from 45.54% in 2019 to 133.9% in 2024, reinforcing the observation of increased long-term financial obligations.
Other liability categories, such as accounts payable and accrued compensation, generally trended downward or remained stable, with accounts payable declining from 1.61% to 1.31% and accrued compensation decreasing from 7.41% to 6.18%. This suggests relative stability or efficiency in managing short-term operational liabilities.
Deferred revenue increased moderately from 7.74% to 9.13%, potentially indicating enhanced prepayments or unearned revenue streams, reflecting customer cash received in advance for goods or services yet to be delivered.
Stockholders’ Equity Dynamics
Stockholders’ equity as a percentage of total liabilities and equity experienced a significant deterioration, moving from a positive 20.21% in 2019 to negative values starting in 2021 and reaching -56.04% in 2024. This negative equity position signals that total liabilities exceeded total assets, which may raise concerns regarding the company’s financial stability and solvency.
Retained earnings consistently increased from 136.5% to 227.07%, indicating profit accumulation over time. However, this positive trend was insufficient to offset the liabilities growth and treasury stock impact.
Treasury stock showed a substantial increase in its negative effect, moving from -195.5% to -357.34%. This large negative balance implies aggressive repurchases or stock cancellations, which reduce total equity and contribute significantly to the negative equity scenario.
Additional paid-in capital declined from 85.48% in 2019 to 79.55% in 2024, reflecting a modest reduction in funds contributed by shareholders above the par value of stock. Common stock value remained almost unchanged and negligible in proportion.
The accumulated other comprehensive loss decreased (became less negative) slightly, from -6.28% to -5.33%, indicating some reduction in unrealized losses included in equity.
Observations on Lease and Payable Items
Interest payable as a percentage of total liabilities and equity, reported from 2021 onward, increased to 1.48% in 2022 but declined thereafter to 1.26%, indicating fluctuating but generally moderate accrued interest obligations.
Operating lease liabilities demonstrated a reduction in non-current operating lease liabilities from 4.56% in 2020 to 1.28% in 2024, consistent with diminished lease commitments or reclassifications.
Finance lease liabilities showed limited occurrence but a slight increase in current and non-current portions by 2024, pointing to some leasing activity.
Summary of Capital Structure and Risk
The overall pattern suggests a shift towards increased leverage, primarily driven by a large rise in long-term debt relative to total capital. The consistent decline in stockholders’ equity into negative territory coupled with growing liabilities highlights elevated financial risk and potential concerns for creditors and investors about the company's long-term solvency.
While some operational liabilities and deferred revenues exhibit modest stability or growth, the dominant factor shaping the financial structure is the company's increasing indebtedness and corresponding erosion of equity base.