Dollar Amounts
USD (Millions)
Balance sheet data in USD (millions)
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Over the five-year period SERVICENOW’s total assets rose sharply from $10,798m in 2021 to $26,038m in 2025 (+141%), while total liabilities increased more moderately from $7,103m to $13,074m (+84%). Stockholders’ equity expanded fastest, from $3,695m to $12,964m (+251%), so the company’s equity share of the balance sheet rose from 34% to about 50% and the liabilities/assets ratio fell from ~66% to ~50%. Liabilities-to-equity (a simple leverage proxy) dropped from ~1.92x in 2021 to ~1.01x in 2025, indicating substantially lower financial leverage and improved solvency over the period. The largest year-over-year asset jumps occurred 2022→2023 and 2024→2025, while equity growth was particularly pronounced in 2022→2023 and 2024→2025 as well. Taken together these moves point to a strengthening balance sheet: assets are growing rapidly (likely reflecting business expansion and higher working capital or cash balances) but retained earnings/equity are rising even faster, shrinking relative leverage and giving the company more financial flexibility. For a SaaS enterprise like ServiceNow, part of the liability base may be subscription deferred revenue (which rises with strong sales) rather than interest-bearing debt, so an increasing absolute liability level is not necessarily negative—especially since equity growth outpaced it. Without a breakdown of cash, short-term debt and deferred revenue there is some detail missing, but the headline trend is favorable: stronger capitalization, lower leverage, and more room for investment or M&A.
This analysis is for informational purposes only and does not constitute financial advice or recommendations for any investment decisions. Please consult with a qualified financial professional for personalized guidance.