Debt to Equity
since 2005
Calculation
Fair Isaac Corp., debt to equity, long-term trends, calculation
| Debt to equity | = | Total debt1 | ÷ | Stockholders’ equity (deficit)1 | |
|---|---|---|---|---|---|
| Sep 30, 2024 | — | = | 2,209,021) | ÷ | (962,679) |
| Sep 30, 2023 | — | = | 1,861,658) | ÷ | (687,990) |
| Sep 30, 2022 | — | = | 1,853,669) | ÷ | (801,947) |
| Sep 30, 2021 | — | = | 1,259,018) | ÷ | (110,942) |
| Sep 30, 2020 | 2.52 | = | 834,435) | ÷ | 331,082) |
| Sep 30, 2019 | 2.85 | = | 824,790) | ÷ | 289,767) |
| Sep 30, 2018 | 2.90 | = | 763,944) | ÷ | 263,737) |
| Sep 30, 2017 | 1.42 | = | 604,801) | ÷ | 426,537) |
| Sep 30, 2016 | 1.28 | = | 571,000) | ÷ | 446,828) |
| Sep 30, 2015 | 1.39 | = | 608,000) | ÷ | 436,998) |
| Sep 30, 2014 | 1.20 | = | 546,000) | ÷ | 454,614) |
| Sep 30, 2013 | 0.89 | = | 470,000) | ÷ | 530,677) |
| Sep 30, 2012 | 1.06 | = | 504,000) | ÷ | 474,406) |
| Sep 30, 2011 | 1.10 | = | 512,000) | ÷ | 465,494) |
| Sep 30, 2010 | 1.09 | = | 520,000) | ÷ | 474,914) |
| Sep 30, 2009 | 0.95 | = | 570,000) | ÷ | 600,269) |
| Sep 30, 2008 | 1.01 | = | 570,000) | ÷ | 561,941) |
| Sep 30, 2007 | 0.99 | = | 560,963) | ÷ | 566,314) |
| Sep 30, 2006 | 0.52 | = | 400,000) | ÷ | 770,028) |
| Sep 30, 2005 | 0.50 | = | 400,000) | ÷ | 805,094) |
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), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
1 US$ in thousands
The capital structure from 2005 to 2024 exhibits a significant shift from a balanced leverage position to a state of negative stockholders' equity. Over this twenty-year period, total debt increased substantially while equity experienced a steady decline, eventually transitioning into a deficit.
- Total Debt Progression
- Total debt remained relatively stable between 2005 and 2013, fluctuating primarily between 470 million and 570 million US dollars. Starting in 2014, a consistent upward trend emerged, with debt rising to 834 million US dollars by 2019. This growth accelerated sharply after 2020, with debt levels climbing from 1.26 billion US dollars in 2020 to 2.21 billion US dollars by September 30, 2024.
- Stockholders' Equity Trends
- Equity began at 805 million US dollars in 2005 and entered a long-term downward trajectory. By 2018, equity had dropped significantly to 263 million US dollars. A critical transition occurred in 2021 when stockholders' equity became negative, recording a deficit of 110 million US dollars. This deficit widened substantially over the following years, reaching 962 million US dollars by 2024.
- Debt-to-Equity Ratio Interpretation
- The debt-to-equity ratio reflects the increasing reliance on borrowed funds relative to equity. From 2005 to 2006, the ratio was low at approximately 0.50. It rose to hover around 1.00 between 2007 and 2013, indicating equal proportions of debt and equity. Between 2014 and 2020, the ratio climbed steeply, peaking at 2.90 in 2018 before settling at 2.52 in 2020. For the period from 2021 to 2024, the ratio is not applicable due to the presence of negative stockholders' equity.
The convergence of rapidly increasing total debt and a diminishing equity base culminated in a total equity deficit by 2021. This pattern suggests an aggressive financing strategy or significant capital returns to shareholders that exceeded retained earnings, resulting in a highly leveraged balance sheet.
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Comparison to Competitors
Fair Isaac Corp., debt to equity, long-term trends, comparison to competitors
| Fair Isaac Corp. | Accenture PLC | Adobe Inc. | AppLovin Corp. | Cadence Design Systems Inc. | Datadog Inc. | International Business Machines Corp. | Intuit Inc. | Microsoft Corp. | Oracle Corp. | Palantir Technologies Inc. | Palo Alto Networks Inc. | Salesforce Inc. | ServiceNow Inc. | Synopsys Inc. | Workday Inc. | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Sep 30, 2024 | — | 0.04 | 0.40 | 3.22 | 0.53 | 0.59 | 2.01 | 0.33 | 0.29 | 9.98 | 0.00 | 0.19 | 0.17 | 0.15 | 0.00 | 0.37 |
| Sep 30, 2023 | — | 0.01 | 0.22 | 2.48 | 0.19 | 0.37 | 2.51 | 0.35 | 0.31 | 84.33 | 0.00 | 1.14 | 0.20 | 0.20 | 0.00 | 0.53 |
| Sep 30, 2022 | — | 0.00 | 0.29 | 1.69 | 0.27 | 0.52 | 2.32 | 0.42 | 0.39 | — | 0.00 | 17.51 | 0.19 | 0.30 | 0.00 | 0.41 |
| Sep 30, 2021 | — | 0.00 | 0.28 | 1.51 | 0.13 | 0.71 | 2.74 | 0.21 | 0.50 | 16.08 | 0.00 | 5.08 | 0.07 | 0.43 | 0.02 | 0.55 |
| Sep 30, 2020 | 2.52 | 0.00 | 0.31 | — | 0.14 | 0.60 | 2.99 | 0.66 | 0.62 | 5.93 | 0.13 | 2.80 | 0.09 | 0.58 | 0.03 | 0.51 |
| Sep 30, 2019 | 2.85 | 0.00 | 0.39 | — | 0.16 | 0.00 | 3.02 | 0.12 | 0.77 | 2.58 | — | 0.90 | 0.22 | 0.33 | 0.03 | 0.62 |
| Sep 30, 2018 | 2.90 | 0.00 | 0.44 | — | 0.35 | — | 2.73 | 0.19 | 0.97 | 1.33 | — | 1.99 | 0.21 | 0.60 | 0.13 | 0.94 |
| Sep 30, 2017 | 1.42 | 0.00 | 0.22 | — | 0.74 | — | 2.66 | 0.36 | 1.23 | 1.08 | — | 0.69 | 0.32 | 2.01 | 0.04 | 0.46 |
| Sep 30, 2016 | 1.28 | 0.00 | 0.26 | — | 0.93 | — | 2.31 | 0.86 | 0.76 | 0.93 | — | 0.64 | 0.36 | 1.31 | 0.06 | 0.45 |
| Sep 30, 2015 | 1.39 | 0.00 | 0.27 | — | 0.25 | — | 2.80 | 0.21 | 0.44 | 0.86 | — | 1.00 | 0.49 | 0.84 | 0.07 | 0.44 |
| Sep 30, 2014 | 1.20 | 0.00 | 0.22 | — | 0.52 | — | 3.44 | 0.16 | 0.25 | 0.52 | — | 1.00 | 0.79 | 1.04 | 0.02 | 0.41 |
| Sep 30, 2013 | 0.89 | 0.01 | 0.23 | — | 0.28 | — | 1.74 | 0.14 | 0.20 | 0.41 | — | 0.00 | 0.25 | 1.05 | 0.04 | 0.04 |
| Sep 30, 2012 | 1.06 | 0.00 | 0.23 | — | 0.49 | — | 1.76 | 0.18 | 0.18 | 0.38 | — | 0.00 | 0.35 | 0.00 | 0.05 | — |
| Sep 30, 2011 | 1.10 | 0.00 | 0.26 | — | 1.04 | — | 1.56 | 0.38 | 0.21 | 0.40 | — | — | 0.38 | — | 0.00 | — |
| Sep 30, 2010 | 1.09 | 0.00 | 0.29 | — | 1.99 | — | 1.24 | 0.35 | 0.13 | 0.48 | — | — | 0.45 | — | 0.00 | — |
| Sep 30, 2009 | 0.95 | 0.00 | 0.20 | — | 4.02 | — | 1.15 | 0.39 | 0.15 | 0.41 | — | — | 0.01 | — | 0.00 | — |
| Sep 30, 2008 | 1.01 | 0.00 | 0.08 | — | 4.91 | — | 2.52 | 0.48 | 0.00 | 0.49 | — | — | 0.00 | — | 0.00 | — |
| Sep 30, 2007 | 0.99 | 0.01 | 0.00 | — | 0.35 | — | 1.24 | 0.49 | 0.00 | 0.45 | — | — | 0.00 | — | 0.00 | — |
| Sep 30, 2006 | 0.52 | 0.03 | 0.00 | — | 0.45 | — | 0.80 | 0.00 | 0.00 | 0.39 | — | — | 0.00 | — | 0.00 | — |
| Sep 30, 2005 | 0.50 | 0.04 | 0.00 | — | 0.31 | — | 0.68 | 0.00 | 0.00 | 0.26 | — | — | 0.01 | — | 0.00 | — |
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), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Sector (Software & Services)
Fair Isaac Corp., debt to equity, long-term trends, comparison to sector (software & services)
| Fair Isaac Corp. | Software & Services | |
|---|---|---|
| Sep 30, 2024 | — | 0.55 |
| Sep 30, 2023 | — | 0.64 |
| Sep 30, 2022 | — | 0.71 |
| Sep 30, 2021 | — | 0.83 |
| Sep 30, 2020 | 2.52 | 0.95 |
| Sep 30, 2019 | 2.85 | 1.04 |
| Sep 30, 2018 | 2.90 | 1.07 |
| Sep 30, 2017 | 1.42 | 1.14 |
| Sep 30, 2016 | 1.28 | 0.90 |
| Sep 30, 2015 | 1.39 | 0.73 |
| Sep 30, 2014 | 1.20 | 0.54 |
| Sep 30, 2013 | 0.89 | 0.46 |
| Sep 30, 2012 | 1.06 | 0.44 |
| Sep 30, 2011 | 1.10 | 0.47 |
| Sep 30, 2010 | 1.09 | 0.46 |
| Sep 30, 2009 | 0.95 | 0.44 |
| Sep 30, 2008 | 1.01 | 0.56 |
| Sep 30, 2007 | 0.99 | 0.50 |
| Sep 30, 2006 | 0.52 | 0.31 |
| Sep 30, 2005 | 0.50 | 0.26 |
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), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).
Comparison to Industry (Information Technology)
Fair Isaac Corp., debt to equity, long-term trends, comparison to industry (information technology)
| Fair Isaac Corp. | Information Technology | |
|---|---|---|
| Sep 30, 2024 | — | 0.61 |
| Sep 30, 2023 | — | 0.65 |
| Sep 30, 2022 | — | 0.70 |
| Sep 30, 2021 | — | 0.82 |
| Sep 30, 2020 | 2.52 | 0.95 |
| Sep 30, 2019 | 2.85 | 0.97 |
| Sep 30, 2018 | 2.90 | 0.82 |
| Sep 30, 2017 | 1.42 | 0.80 |
| Sep 30, 2016 | 1.28 | 0.65 |
| Sep 30, 2015 | 1.39 | 0.56 |
| Sep 30, 2014 | 1.20 | 0.38 |
| Sep 30, 2013 | 0.89 | 0.28 |
| Sep 30, 2012 | 1.06 | 0.24 |
| Sep 30, 2011 | 1.10 | 0.27 |
| Sep 30, 2010 | 1.09 | 0.24 |
| Sep 30, 2009 | 0.95 | 0.25 |
| Sep 30, 2008 | 1.01 | 0.28 |
| Sep 30, 2007 | 0.99 | 0.26 |
| Sep 30, 2006 | 0.52 | 0.19 |
| Sep 30, 2005 | 0.50 | 0.15 |
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), 10-K (reporting date: 2018-09-30), 10-K (reporting date: 2017-09-30), 10-K (reporting date: 2016-09-30), 10-K (reporting date: 2015-09-30), 10-K (reporting date: 2014-09-30), 10-K (reporting date: 2013-09-30), 10-K (reporting date: 2012-09-30), 10-K (reporting date: 2011-09-30), 10-K (reporting date: 2010-09-30), 10-K (reporting date: 2009-09-30), 10-K (reporting date: 2008-09-30), 10-K (reporting date: 2007-09-30), 10-K (reporting date: 2006-09-30), 10-K (reporting date: 2005-09-30).