Stock Analysis on Net

ServiceNow Inc. (NYSE:NOW)

$24.99

Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
Quarterly Data

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ServiceNow Inc., common-size consolidated balance sheet: liabilities and stockholders’ equity (quarterly data)

Microsoft Excel
Mar 31, 2026 Dec 31, 2025 Sep 30, 2025 Jun 30, 2025 Mar 31, 2025 Dec 31, 2024 Sep 30, 2024 Jun 30, 2024 Mar 31, 2024 Dec 31, 2023 Sep 30, 2023 Jun 30, 2023 Mar 31, 2023 Dec 31, 2022 Sep 30, 2022 Jun 30, 2022 Mar 31, 2022 Dec 31, 2021 Sep 30, 2021 Jun 30, 2021 Mar 31, 2021
Accounts payable
Accrued expenses and other current liabilities
Current portion of deferred revenue
Current portion of operating lease liabilities
Current debt, net
Current liabilities
Deferred revenue, less current portion
Operating lease liabilities, less current portion
Long-term debt, net, less current portion
Other long-term liabilities
Long-term liabilities
Total liabilities
Preferred stock, $0.001 par value; no shares issued or outstanding
Common stock, $0.001 par value
Treasury stock, at cost
Additional paid-in capital
Accumulated other comprehensive income (loss)
Retained earnings (accumulated deficit)
Stockholders’ equity
Total liabilities and stockholders’ equity

Based on: 10-Q (reporting date: 2026-03-31), 10-K (reporting date: 2025-12-31), 10-Q (reporting date: 2025-09-30), 10-Q (reporting date: 2025-06-30), 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31).


The overall capital structure exhibits a strategic shift from liability-based funding toward equity-based funding over the analyzed period. Total liabilities decreased from 65.57% of total liabilities and stockholders' equity in March 2021 to 51.90% by March 2026, while stockholders' equity increased from 34.43% to 48.10% during the same timeframe.

Debt and Liability Management
A consistent reduction in long-term debt is observed, falling from 18.26% in March 2021 to 6.12% in March 2026. This indicates a deliberate deleveraging process. Current liabilities remained more volatile, fluctuating between 36% and 46%, though they generally trended downward toward the end of the period. Operating lease liabilities also showed a gradual decline, moving from 4.76% to 3.37% of the total balance sheet.
Operational Liability Patterns
The current portion of deferred revenue represents the most significant component of current liabilities, consistently remaining between 29% and 35%. This pattern is characteristic of a subscription-based business model where payments are received in advance of service delivery. Other current liabilities, such as accrued expenses, maintained a relatively stable range between 5% and 8%.
Equity and Profitability Trends
A significant transition in profitability is evident through the movement of retained earnings. The company moved from an accumulated deficit of -1.72% in March 2021 to a substantial positive balance of 23.42% by March 2026. This trend reflects a shift toward sustained net income generation. Additional paid-in capital also grew, ending at 46.69% in March 2026.
Shareholder Capital Returns
There is a marked increase in the proportion of treasury stock, which evolved from zero or negligible levels to -22.05% by March 2026. This suggests an aggressive share repurchase program, which serves to reduce the number of outstanding shares and offset the growth in equity from retained earnings.

In summary, the balance sheet reflects a maturing financial profile characterized by significant debt reduction, a transition from accumulated deficits to strong retained earnings, and an increasing commitment to shareholder returns through buybacks, all while maintaining a stable operational liability structure driven by deferred revenue.