Balance Sheet: Assets
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.
Assets are resources controlled by the company as a result of past events and from which future economic benefits are expected to flow to the entity.
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- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
- Dividend Discount Model (DDM)
- Present Value of Free Cash Flow to Equity (FCFE)
- Net Profit Margin since 2012
- Current Ratio since 2012
- Price to Operating Profit (P/OP) since 2012
- Price to Book Value (P/BV) since 2012
- Price to Sales (P/S) since 2012
- Aggregate Accruals
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ServiceNow Inc., consolidated balance sheet: assets
US$ in millions
Based on: 10-K (reporting date: 2025-12-31), 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31).
Total assets experienced consistent growth over the five-year period, increasing from US$10,798 million in 2021 to US$26,038 million in 2025. This growth was driven by increases in both current and long-term assets. A notable acceleration in asset growth is observed between 2023 and 2025.
- Liquidity and Current Assets
- Current assets demonstrated a strong upward trend, rising from US$5,220 million in 2021 to US$10,471 million in 2025. The most significant contributors to this growth were accounts receivable, prepaid expenses and other current assets, and the current portion of deferred commissions. Cash and cash equivalents fluctuated, decreasing initially before increasing substantially in 2024 and 2025. Marketable securities also showed growth, though with some volatility.
- Long-Term Assets
- Long-term assets also exhibited substantial growth, increasing from US$5,578 million in 2021 to US$15,567 million in 2025. Goodwill and deferred tax assets experienced particularly significant increases over the period. Strategic investments were not present in the earlier years but grew substantially in 2025. Property and equipment, net, also showed consistent growth, albeit at a more moderate pace. Long-term marketable securities increased steadily. Operating lease right-of-use assets remained relatively stable.
- Intangible Assets and Goodwill
- Intangible assets, net, initially decreased but experienced a considerable increase in 2025. Goodwill increased significantly throughout the period, particularly between 2022 and 2025, suggesting potential acquisitions or internal value creation. The substantial increase in both intangible assets and goodwill in 2025 warrants further investigation.
- Deferred Commissions
- Both the current and long-term portions of deferred commissions increased consistently throughout the period. This suggests a growing reliance on subscription-based revenue models or longer-term contracts. The growth rate appears to be accelerating in later years.
- Other Assets and Deferred Tax Assets
- Other assets showed moderate growth, with some fluctuation. Deferred tax assets increased significantly in 2023, then decreased slightly in 2024 and 2025, but remained substantially higher than in 2021 and 2022. This could be related to changes in tax regulations or the utilization of tax loss carryforwards.
Overall, the asset base expanded considerably during the analyzed period, indicating growth and investment. The increasing proportion of long-term assets, particularly goodwill and intangible assets, suggests a shift towards a more asset-intensive business model or a series of strategic acquisitions. The substantial increases in 2024 and 2025 across multiple asset categories indicate accelerated growth in the latter part of the period.