ServiceNow Inc (NOW)

Financial leverage ratio

		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	Dec 31, 2020	Sep 30, 2020	Jun 30, 2020	Mar 31, 2020	Dec 31, 2019	Sep 30, 2019	Jun 30, 2019	Mar 31, 2019
Total assets	US$ in thousands	17,387,000	15,091,000	14,923,000	13,614,000	13,299,000	11,106,000	11,102,000	10,993,000	10,798,000	9,478,000	9,187,000	8,822,000	8,715,000	7,705,460	6,521,310	6,197,420	6,022,430	4,756,810	4,602,700	4,398,900
Total stockholders’ equity	US$ in thousands	7,628,000	7,182,000	6,926,000	5,600,000	5,032,000	4,523,000	4,194,000	3,997,000	3,695,000	3,534,000	3,275,000	3,037,000	2,834,000	2,674,000	2,479,000	2,266,000	2,127,000	1,429,470	1,260,950	1,194,950
Financial leverage ratio		2.28	2.10	2.15	2.43	2.64	2.46	2.65	2.75	2.92	2.68	2.81	2.90	3.08	2.88	2.63	2.73	2.83	3.33	3.65	3.68

December 31, 2023 calculation

Financial leverage ratio = Total assets ÷ Total stockholders’ equity
= $17,387,000K ÷ $7,628,000K
= 2.28

The financial leverage ratio of ServiceNow Inc has shown some fluctuation over the past several quarters, indicating changes in the company's capital structure and debt levels. The ratio decreased from 2.75 in March 2022 to 2.10 in September 2023, suggesting a reduction in financial leverage and potential increased stability. However, the ratio increased to 2.43 in March 2023, signifying a higher reliance on debt financing. Overall, these fluctuations may indicate shifts in the company's financing strategy and its ability to manage debt levels effectively.