Analysis of Debt
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- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Common Stock Valuation Ratios
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- Net Profit Margin since 2012
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- Price to Book Value (P/BV) since 2012
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- Aggregate Accruals
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Total Debt (Carrying Amount)
ServiceNow Inc., balance sheet: debt
US$ in millions
| Dec 31, 2025 | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | ||
|---|---|---|---|---|---|---|
| Current debt, net | ||||||
| Long-term debt, net, less current portion | ||||||
| Total long-term debt (carrying amount) |
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).
The company’s total debt, specifically the carrying amount, demonstrates a generally stable pattern over the observed period. While there was an initial decrease, the figures subsequently exhibit minimal fluctuation.
- Total Long-Term Debt
- In 2021, total long-term debt was reported at US$1,576 million. This value decreased to US$1,486 million in 2022. From 2022 through 2025, total long-term debt remained remarkably consistent, increasing incrementally to US$1,488 million in 2023, US$1,489 million in 2024, and US$1,491 million in 2025. This suggests a period of stable long-term financing.
Current debt, net, was reported at US$92 million in 2021, with no subsequent values available for comparison. The absence of current debt figures for 2022-2025 limits a comprehensive assessment of short-term debt management.
- Debt Composition
- Long-term debt consistently represents the vast majority of the company’s total debt. The difference between total long-term debt and current debt, net, is substantial in 2021, and the consistent values for long-term debt suggest this composition remained relatively stable despite the initial decrease in total debt.
The limited volatility in total long-term debt from 2022 to 2025 indicates a conservative approach to debt management during this period. The initial decrease in 2022 warrants further investigation to understand the underlying reasons, such as debt repayment or refinancing.
Total Debt (Fair Value)
| Dec 31, 2025 | |
|---|---|
| Selected Financial Data (US$ in millions) | |
| 2030 Notes | |
| 2022 Notes | |
| Total long-term debt (fair value) | |
| Financial Ratio | |
| Debt, fair value to carrying amount ratio | |
Based on: 10-K (reporting date: 2025-12-31).
Weighted-average Interest Rate on Debt
Weighted-average effective interest rate on debt:
| Interest rate | Debt amount1 | Interest rate × Debt amount | Weighted-average interest rate2 |
|---|---|---|---|
| Total | |||
Based on: 10-K (reporting date: 2025-12-31).
1 US$ in millions
2 Weighted-average interest rate = 100 × ÷ =