The company's financial resilience has weakened as the debt-to-equity ratio surged to 1.38 in 2026Q3, up from a stable 0.09 level observed in 2024Q3.
| Metric | TTM | Jun'25 | Jun'24 | Jun'23 | Jun'22 | Jun'21 | Jun'20 | Jun'19 | Jun'18 | Jun'17 | Jun'16 | Jun'15 | Jun'14 | Jun'13 |
|---|
| Total Current Assets | 260.44M | 281.85M | 267.62M | 346.67M | 328.18M | 189.69M | 187.45M | 136.88M | 68.09M | 65.79M | 44.48M | 37.7M | 32.87M | 19.23M |
| Cash & Short-Term Investments | 48.58M | 59.47M | 62.54M | 164.76M | 163.2M | 70.45M | 101.91M | 70.17M | 15.05M | 23.57M | 12.95M | 13.36M | 15.34M | 8.3M |
| Cash Only | 48.38M | 59.34M | 62.36M | 164.7M | 162.81M | 69.88M | 101.33M | 70.17M | 15.05M | 23.57M | 12.95M | 13.36M | 15.34M | 8.3M |
| Short-Term Investments | 199.01K | 121K | 183K | 56K | 392K | 563K | 584K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 211.86M | 211.18M | 193.58M | 172.34M | 156.12M | 113.09M | 61.06M | 60.97M | 26M | 30.24M | 22.38M | 17.91M | 13.04M | 8M |
| Days Sales Outstanding | 104.34 | 99.81 | 95.38 | 79.15 | 87.03 | 92.49 | 63.5 | 77.29 | 43.62 | 69.25 | 70.75 | 77.73 | 74.47 | 68.55 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | -6.78M | 0 | 16K | 62K | 134K | 9K | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | 0.04 | 0.21 | 0.65 | 0.06 | - | - |
| Other Current Assets | 0 | 0 | 0 | -1.48M | 0 | 0 | 24.48M | 0 | 22.77M | 9.82M | 6.73M | 6.42M | 4.49M | 2.92M |
| Total Non-Current Assets | 278.43M | 653.92M | 746.27M | 423.46M | 293.68M | 283.52M | 173.5M | 85.8M | 82.92M | 40.59M | 28.42M | 19.3M | 4.42M | 4.58M |
| Property, Plant & Equipment | 52.01M | 55.69M | 73.93M | 91.02M | 72.08M | 70.52M | 63.88M | 10.58M | 8.58M | 7.49M | 4.74M | 3.37M | 2.75M | 2.71M |
| Fixed Asset Turnover | 13.15x | 13.87x | 10.02x | 8.73x | 9.08x | 6.33x | 5.49x | 27.22x | 25.35x | 21.29x | 24.38x | 24.95x | 23.26x | 15.70x |
| Goodwill | 113.01M | 473.3M | 515.72M | 240.82M | 145.92M | 124.42M | 56.88M | 36.76M | 41.06M | 16.2M | 11.32M | 5.1M | 1.45M | 1.42M |
| Intangible Assets | 102.8M | 100.89M | 127.8M | 66.22M | 56.19M | 69.55M | 38.75M | 28.91M | 30.79M | 16.03M | 11.23M | 10M | 0 | 0 |
| Long-Term Investments | 14.35M | 5.01M | 10.5M | 5.24M | 2.28M | 363K | 639K | 76.25M | -2.49M | 14K | 27K | 0 | 0 | 0 |
| Other Non-Current Assets | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -76.25M | 2.49M | 0 | 0 | 828K | 219K | 441K |
| Total Assets | 538.86M | 935.77M | 1.01B | 770.12M | 621.86M | 473.21M | 360.94M | 222.68M | 151.01M | 106.38M | 72.9M | 57M | 37.28M | 23.81M |
| Asset Turnover | 0.87x | 0.83x | 0.73x | 1.03x | 1.05x | 0.94x | 0.97x | 1.29x | 1.44x | 1.50x | 1.58x | 1.48x | 1.71x | 1.79x |
| Asset Growth % | -60.68% | -7.7% | 31.65% | 23.84% | 31.41% | 31.1% | 62.09% | 47.46% | 41.95% | 45.93% | 27.89% | 52.89% | 56.61% | - |
| Total Current Liabilities | 126.09M | 121.72M | 153.86M | 120.59M | 128.41M | 102.81M | 76.39M | 54.2M | 71.14M | 54.76M | 41.3M | 25.67M | 20.07M | 12.24M |
| Accounts Payable | 104.97M | 22.66M | 10.98M | 5.48M | 8.21M | 7M | 58.6M | 4.22M | 4.5M | 3.72M | 1.52M | 2.03M | 1.43M | 1.28M |
| Days Payables Outstanding | 49.68 | 14.4 | 7.26 | 3.77 | 6.86 | 8.74 | 85.36 | 8.15 | 11.3 | 12.49 | 7.41 | 14.16 | 12.41 | 16.55 |
| Short-Term Debt | 13.74M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 19.7M | 29.31M | 15.31M | 3.21M | 307K | 1.16M |
| Deferred Revenue (Current) | 4.18M | 4.18M | 6.15M | 0 | 4.44M | 3.89M | 3.2M | 2.34M | 2.41M | 1.6M | 3.6M | 0 | 0 | 0 |
| Other Current Liabilities | 192.01K | 8.5M | 20.51M | -663K | 19.32M | 10.04M | 2M | 5.75M | 10.84M | 3.87M | 8.52M | 20.43M | 18.33M | 9.8M |
| Current Ratio | 2.07x | 2.32x | 1.74x | 2.87x | 2.56x | 1.84x | 2.45x | 2.53x | 0.96x | 1.20x | 1.08x | 1.47x | 1.64x | 1.57x |
| Quick Ratio | 2.07x | 2.32x | 1.74x | 2.87x | 2.56x | 1.84x | 2.54x | 2.53x | 0.96x | 1.20x | 1.07x | 1.47x | 1.64x | 1.57x |
| Cash Conversion Cycle | 54.66 | - | - | - | - | - | - | - | 32.35 | 56.97 | 63.99 | 63.64 | - | - |
| Total Non-Current Liabilities | 240.12M | 231.11M | 220.58M | 78.23M | 60.72M | 69.73M | 48.23M | 2.15M | 10.38M | 2.9M | 1.81M | 5.35M | 401K | 932.63K |
| Long-Term Debt | 195.79M | 180.94M | 144.75M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 26K | 431K | 164K | 695.57K |
| Capital Lease Obligations | 130.34M | 33.45M | 43.56M | 54.44M | 44M | 50.14M | 42.23M | 0 | 20K | 63K | 12K | 0 | 0 | 0 |
| Deferred Tax Liabilities | 43.2M | 15.18M | 30.81M | 0 | 10.83M | 0 | 5.86M | 2.03M | 2.83M | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.4M | 1.54M | 509K | 18.95M | 5.89M | 10.21M | 136K | 113K | 7.53M | 2.81M | 1.77M | 4.92M | 237K | 237.06K |
| Total Liabilities | 366.22M | 352.83M | 374.44M | 198.81M | 189.13M | 172.54M | 124.62M | 56.35M | 81.52M | 57.66M | 43.1M | 31.01M | 20.47M | 13.17M |
| Total Debt | 238.62M | 228.05M | 202.76M | 69.01M | 55.9M | 63.69M | 53.37M | 21K | 19.76M | 29.46M | 15.44M | 3.64M | 471K | 1.85M |
| Net Debt | 190.24M | 168.71M | 140.4M | -95.69M | -106.91M | -6.2M | -47.96M | -70.15M | 4.72M | 5.89M | 2.5M | -9.72M | -14.87M | -6.45M |
| Debt / Equity | 1.38x | 0.39x | 0.32x | 0.12x | 0.13x | 0.21x | 0.23x | 0.00x | 0.28x | 0.60x | 0.52x | 0.14x | 0.03x | 0.17x |
| Debt / EBITDA | 7.13x | 3.68x | 4.46x | 0.52x | 0.49x | 0.84x | 1.40x | 0.00x | 0.62x | 1.08x | 0.68x | 0.21x | 0.04x | 0.30x |
| Net Debt / EBITDA | 5.69x | 2.72x | 3.09x | -0.71x | -0.94x | -0.08x | -1.25x | -1.71x | 0.15x | 0.22x | 0.11x | -0.56x | -1.35x | -1.05x |
| Interest Coverage | -0.49x | 3.46x | 5.47x | 33.00x | 31.33x | 27.23x | 13.36x | 88.25x | 44.09x | 57.86x | 123.54x | - | - | - |
| Total Equity | 172.65M | 582.94M | 639.46M | 571.31M | 432.72M | 300.67M | 236.33M | 166.33M | 69.5M | 48.72M | 29.79M | 25.99M | 16.81M | 10.63M |
| Equity Growth % | -105.09% | -8.84% | 11.93% | 32.03% | 43.92% | 27.23% | 42.08% | 139.33% | 42.65% | 63.53% | 14.65% | 54.57% | 58.09% | - |
| Book Value per Share | 3.31 | 9.90 | 10.88 | 9.84 | 7.46 | 5.27 | 4.22 | 3.02 | 1.40 | 0.92 | 0.56 | 0.56 | 0.34 | 0.27 |
| Total Shareholders' Equity | 172.65M | 582.94M | 639.46M | 571.31M | 432.72M | 300.67M | 236.33M | 166.33M | 69.5M | 48.72M | 29.79M | 25.99M | 16.81M | 10.63M |
| Common Stock | 1.04M | 1.12M | 1.18M | 1.16M | 1.14M | 1.11M | 1.1M | 1.09M | 996K | 996K | 996K | 990K | 830K | 876.94K |
| Retained Earnings | 205.66M | 575.43M | 573.64M | 522.93M | 398.1M | 283.06M | 214.64M | 146.96M | 59.26M | 38.07M | 20.43M | 20.26M | 14.18M | 8.42M |
| Treasury Stock | -5K | -17.96M | -26K | -27K | -155K | -155K | -1.34M | -1.85M | -2.27M | -2.27M | -1.03M | -972K | -714K | 0 |
| Accumulated OCI | 0 | 3.07M | 43.38M | 32.63M | 24.49M | 16.4M | 21.71M | 20M | 8.84M | 9.25M | 6.73M | 3.35M | 1.03M | 597.47K |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Rising leverage and liquidity
As reported in recent financial statements, Endava's balance sheet has shifted from a net cash position to a leveraged state, with total debt rising to $238.6 million by 2026Q3, signaling a fundamental weakening in the company's financial resilience amidst ongoing operational challenges.
The transition from a net cash position in 2024 to a debt-heavy structure suggests that the company is increasingly relying on external financing to fund operations or acquisitions. This trajectory warrants caution, as the erosion of equity and rising debt levels may limit management's flexibility during the current period of revenue contraction.
Based on the latest quarterly filings, Endava's debt-to-equity ratio has surged to 1.38 in 2026Q3, a significant increase from the 0.09 level observed in 2024Q3, indicating that the company is assuming higher financial risk to navigate its current period of negative profitability.
The rapid accumulation of debt appears to be a reactive measure rather than a strategic capital allocation choice. Investors should monitor whether this leverage becomes a burden on future cash flows, particularly if the company remains unable to return to consistent profitability.
According to the 2026Q3 balance sheet, Endava's cash reserves have dwindled to $48.4 million, down from $198.6 million in 2024Q2, which suggests a tightening liquidity profile that may leave the firm with limited protection against further operational shocks or unforeseen capital requirements.
While the current ratio of 2.07 remains above critical thresholds, the absolute decline in cash balances is concerning given the company's recent negative free cash flow. This trend suggests that the company is burning through its liquidity buffer to sustain operations, which may necessitate future financing if the cash burn persists.
As evidenced by the company's reported figures, goodwill remains a substantial component of total assets at $113.0 million, which may pose a risk of future impairment charges if the underlying acquired businesses fail to meet performance expectations in the current downturn.
The presence of significant goodwill on the balance sheet, despite the recent contraction in revenue and profitability, suggests that the carrying value of past acquisitions may be overstated. Investors should consider the potential for non-cash write-downs, which would further erode the company's equity base and complicate its financial recovery.
Quick answers to the most common questions about buying DAVA stock.
As of 2025, Endava plc (DAVA) had total assets of $935.8M including $281.9M in current assets.
Endava plc (DAVA) carries total debt of $228.1M, offset by $59.5M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Endava plc (DAVA) has total shareholders' equity (book value) of $582.9M ($9.90 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Endava plc (DAVA) reported a current ratio of 2.32x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.