Cloud & Enterprise Software

The Cloud & Enterprise Software sector encompasses 23 tracked companies carrying $74.2B in combined long-term debt. Across the sector, $14.8B (8% of maturities) is due within the next 12 months. The majority of obligations ($116.6B) extend beyond five years, providing longer-term refinancing runway. Microsoft accounts for 54% of sector debt at $40.3B.

Companies in Sector
23
Total Sector Debt
$74.2B
High Risk
0
Avg Risk Score
1.7
Company Risk Score Total Debt 12mo Due Interest Coverage Data
Salesforce
CRM 		4/10 Medium Risk $14.4B $4.0B N/A Partial
Fortinet
FTNT 		4/10 Medium Risk N/A $500M 103.7x Complete
Cloudflare
NET 		3/10 Low Risk N/A N/A Loss Partial
Oracle
ORCL 		3/10 Low Risk $0 $7.3B 4.9x Complete
Snowflake
SNOW 		3/10 Low Risk N/A N/A N/A Limited
Microsoft
MSFT 		2/10 Low Risk $40.3B $3.0B 43.8x Complete
Atlassian
TEAM 		2/10 Low Risk N/A $0 -4.3x Partial
Workday
WDAY 		2/10 Low Risk $3.0B $0 6.3x Partial
Zscaler
ZS 		2/10 Low Risk $1.1B N/A Loss Partial
Adobe
ADBE 		1/10 Low Risk $5.4B $0 77.0x Partial
BILL Holdings
BILL 		1/10 Low Risk $1.8B N/A -5.3x Partial
CrowdStrike
CRWD 		1/10 Low Risk N/A N/A Loss Partial
Datadog
DDOG 		1/10 Low Risk N/A N/A -7.0x Partial
HubSpot
HUBS 		1/10 Low Risk N/A N/A N/A Limited
Intuit
INTU 		1/10 Low Risk $6.2B $0 N/A Partial
MongoDB
MDB 		1/10 Low Risk N/A N/A N/A Limited
ServiceNow
NOW 		1/10 Low Risk N/A $0 N/A Limited
Okta
OKTA 		1/10 Low Risk N/A N/A N/A Limited
Palo Alto Networks
PANW 		1/10 Low Risk $2.0B N/A 149.8x Partial
UiPath
PATH 		1/10 Low Risk N/A N/A N/A Limited
Palantir Technologies
PLTR 		1/10 Low Risk N/A N/A N/A Limited
Shopify
SHOP 		1/10 Low Risk N/A N/A N/A Limited
Veeva Systems
VEEV 		1/10 Low Risk N/A N/A N/A Limited