Name: Fair Isaac Corp. (NYSE:FICO) | Liabilities and Stockholders’ Equity
Creator: Stock Analysis on Net

Balance Sheet: Liabilities and Stockholders’ Equity

The balance sheet provides creditors, investors, and analysts with information on company resources (assets) and its sources of capital (its equity and liabilities). It normally also provides information about the future earnings capacity of a company assets as well as an indication of cash flows that may come from receivables and inventories.

Liabilities represents obligations of a company arising from past events, the settlement of which is expected to result in an outflow of economic benefits from the entity.

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

US$ in thousands

	Sep 30, 2024	Sep 30, 2023	Sep 30, 2022	Sep 30, 2021	Sep 30, 2020	Sep 30, 2019
Accounts payable	22,473)	19,009)	17,273)	20,749)	23,033)	23,118)
Accrued compensation and employee benefits	106,103)	102,471)	97,893)	103,506)	117,952)	106,240)
Interest payable	21,663)	20,770)	21,314)	12,241)	—)	—)
Current finance lease liabilities	3,144)	—)	—)	—)	2,186)	1,935)
Other	55,005)	38,708)	44,934)	67,294)	61,181)	30,519)
Other accrued liabilities	79,812)	59,478)	66,248)	79,535)	63,367)	32,454)
Deferred revenue	156,897)	136,730)	120,045)	105,417)	115,159)	111,016)
Current maturities on debt	15,000)	50,000)	30,000)	250,000)	95,000)	218,000)
Current liabilities	380,285)	367,688)	331,459)	559,207)	414,511)	490,828)
Long-term debt, excluding current maturities	2,194,021)	1,811,658)	1,823,669)	1,009,018)	739,435)	606,790)
Non-current operating lease liabilities	21,963)	23,903)	39,192)	53,670)	73,207)	—)
Non-current finance lease liabilities	7,263)	—)	—)	—)	3,076)	3,489)
Other liabilities	77,031)	60,022)	49,661)	56,823)	44,929)	42,574)
Non-current liabilities	2,300,278)	1,895,583)	1,912,522)	1,119,511)	860,647)	652,853)
Total liabilities	2,680,563)	2,263,271)	2,243,981)	1,678,718)	1,275,158)	1,143,681)
Preferred stock, $0.01 par value; none issued and outstanding	—)	—)	—)	—)	—)	—)
Common stock, $0.01 par value	244)	248)	252)	276)	291)	289)
Additional paid-in-capital	1,366,572)	1,350,713)	1,299,588)	1,237,348)	1,218,583)	1,225,365)
Treasury stock, at cost	(6,138,736)	(5,324,865)	(4,935,769)	(3,857,855)	(2,997,856)	(2,802,450)
Retained earnings	3,900,870)	3,388,059)	2,958,684)	2,585,143)	2,193,059)	1,956,648)
Accumulated other comprehensive loss	(91,629)	(102,145)	(124,702)	(75,854)	(82,995)	(90,085)
Stockholders’ equity (deficit)	(962,679)	(687,990)	(801,947)	(110,942)	331,082)	289,767)
Total liabilities and stockholders’ equity (deficit)	1,717,884)	1,575,281)	1,442,034)	1,567,776)	1,606,240)	1,433,448)

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).

An analysis of the balance sheet from 2019 to 2024 reveals a strategic shift toward a highly leveraged capital structure, characterized by a significant increase in long-term debt and an aggressive share repurchase program that has resulted in a substantial stockholders' equity deficit.

Liability Growth and Debt Profile: Total liabilities have more than doubled over the analyzed period, rising from 1,143,681 thousand US dollars in 2019 to 2,680,563 thousand US dollars in 2024. This increase is primarily driven by long-term debt, excluding current maturities, which grew from 606,790 thousand US dollars in 2019 to 2,194,021 thousand US dollars in 2024. The most rapid acceleration in debt occurred between 2021 and 2022, where long-term debt increased by approximately 80% in a single fiscal year.
Current Liabilities and Operational Obligations: Current liabilities exhibited volatility, peaking in 2021 at 559,207 thousand US dollars before stabilizing at 380,285 thousand US dollars by 2024. Deferred revenue has shown a consistent upward trend, increasing from 111,016 thousand US dollars in 2019 to 156,897 thousand US dollars in 2024, suggesting growth in contracted future services or prepayments. Current maturities on debt have fluctuated significantly, reaching a low of 15,000 thousand US dollars in 2024, indicating a strategic pushing back of debt maturity dates.
Equity Deficit and Share Repurchase Activity: The company has transitioned from a positive equity position of 289,767 thousand US dollars in 2019 to a deficit of 962,679 thousand US dollars in 2024. This deficit is fundamentally driven by the treasury stock account, which expanded from a cost of 2,802,450 thousand US dollars in 2019 to 6,138,736 thousand US dollars in 2024. This indicates an aggressive and sustained program of share buybacks that has exceeded the growth of other equity components.
Retained Earnings and Profitability Trends: Despite the equity deficit, retained earnings have grown steadily and linearly, increasing from 1,956,648 thousand US dollars in 2019 to 3,900,870 thousand US dollars in 2024. This consistent growth demonstrates strong underlying profitability and internal cash generation, which has partially offset the impact of the treasury stock acquisitions on total equity.
Overall Capitalization Summary: The financial data indicates a deliberate capital management strategy where increased debt issuance is utilized to fund share repurchases. The resulting negative stockholders' equity is a byproduct of returning capital to shareholders at a rate faster than the accumulation of retained earnings and the growth of the asset base, shifting the company toward a debt-heavy financing model.

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