The company's financial position remains constrained by a $416.5 million accumulated deficit and a debt-to-equity ratio of 1.81 as of 2027Q1.
| Total Current Assets | 559.03M | 612.24M | 691.93M | 703.2M | 600.34M | 645.08M | 638.31M | 404.99M | 172.84M | 69.81M |
| Cash & Short-Term Investments | 443.96M | 469.84M | 570.83M | 571.19M | 476.97M | 543.36M | 560.28M | 351.4M | 127.88M | 44M |
| Cash Only | 208.88M | 237.4M | 346.46M | 363.01M | 274.02M | 349.79M | 339.17M | 124.02M | 127.88M | 44M |
| Short-Term Investments | 235.08M | 232.44M | 224.37M | 208.18M | 202.95M | 193.57M | 221.11M | 227.38M | 0 | 0 |
| Accounts Receivable | 76.03M | 108.43M | 107.35M | 100.41M | 91.34M | 75.28M | 55.12M | 37.13M | 33.54M | 18.89M |
| Days Sales Outstanding | 61.68 | 80.35 | 83.81 | 85.1 | 89.92 | 97.64 | 94.21 | 81.46 | 103.9 | 86.58 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 39.05M | 33.97M | 13.76M | 19.5M | 32.02M | 16.67M | 12.33M | 9.3M | 6M | 3.02M |
| Total Non-Current Assets | 377.56M | 378.28M | 235.33M | 222.11M | 217.54M | 161.36M | 157.13M | 30.41M | 24.4M | 11.56M |
| Property, Plant & Equipment | 43.45M | 41.7M | 28.14M | 21.42M | 32.37M | 38.46M | 37.33M | 12.37M | 5.77M | 3.27M |
| Fixed Asset Turnover | 12.81x | 11.81x | 16.61x | 20.11x | 11.45x | 7.32x | 5.72x | 13.45x | 20.41x | 24.34x |
| Goodwill | 137.4M | 137.4M | 137.4M | 137.4M | 118.86M | 72.13M | 72.13M | 0 | 0 | 0 |
| Intangible Assets | 14.71M | 15.64M | 20.86M | 32.62M | 37.22M | 23.13M | 26.63M | 0 | 0 | 0 |
| Long-Term Investments | 2.16M | 1.08M | 0 | 0 | 0 | 193.57M | 0 | 0 | 2.45M | 2.45M |
| Other Non-Current Assets | 28.34M | 28.79M | 48.93M | 30.67M | 29.08M | -165.92M | 21.04M | 18.04M | 16.18M | 5.83M |
| Total Assets | 936.59M | 990.51M | 927.27M | 925.31M | 817.87M | 806.45M | 795.44M | 435.4M | 197.23M | 81.37M |
| Asset Turnover | 0.51x | 0.50x | 0.50x | 0.47x | 0.45x | 0.35x | 0.27x | 0.38x | 0.60x | 0.98x |
| Asset Growth % | 23.78% | 6.82% | 0.21% | 13.14% | 1.42% | 1.38% | 82.69% | 120.75% | 142.4% | - |
| Total Current Liabilities | 287.01M | 303.89M | 369.16M | 281.65M | 271.08M | 226.99M | 172.69M | 115.03M | 88.81M | 50.83M |
| Accounts Payable | 4.44M | 6.72M | 7.33M | 6.24M | 7.4M | 9.51M | 5.75M | 6.43M | 5.6M | 4.19M |
| Days Payables Outstanding | 30.71 | 33.07 | 33.58 | 29.27 | 38.34 | 71.74 | 68.36 | 95.55 | 118.52 | 120.35 |
| Short-Term Debt | 0 | 5M | 60.73M | 6.18M | 5.9M | 5.64M | 5.26M | 0 | 0 | 0 |
| Deferred Revenue (Current) | 935.89M | 246.45M | 243.27M | 223.52M | 204.14M | 162.88M | 123.69M | 87.49M | 63.96M | 36.95M |
| Other Current Liabilities | 36.7M | 42.31M | 17.07M | 14.46M | 10.09M | 12.58M | 8.28M | 6.24M | 8.94M | 4.45M |
| Current Ratio | 1.95x | 2.01x | 1.87x | 2.50x | 2.21x | 2.84x | 3.70x | 3.52x | 1.95x | 1.37x |
| Quick Ratio | 1.95x | 2.01x | 1.87x | 2.50x | 2.21x | 2.84x | 3.70x | 3.52x | 1.95x | 1.37x |
| Cash Conversion Cycle | 30.97 | - | - | - | - | - | - | - | - | - |
| Total Non-Current Liabilities | 421.09M | 415.96M | 410.06M | 464.76M | 304.71M | 312.48M | 256.02M | 12.43M | 4.33M | 86.9M |
| Long-Term Debt | 396.33M | 395.73M | 393.28M | 448.03M | 282.91M | 281.07M | 217.53M | 0 | 0 | 0 |
| Capital Lease Obligations | 43.25M | 12.6M | 9.64M | 6.81M | 12.7M | 20.91M | 26.54M | 0 | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 10.85M | 5.15M | 4.66M | 5.28M | 4.18M | 3.16M | 5.67M | 7.35M | 4.18M | 85.69M |
| Total Liabilities | 708.11M | 719.85M | 779.22M | 746.41M | 575.79M | 539.47M | 428.72M | 127.46M | 93.14M | 137.73M |
| Total Debt | 412.75M | 413.33M | 463.65M | 461.02M | 301.52M | 307.62M | 249.33M | 0 | 0 | 0 |
| Net Debt | 203.87M | 175.93M | 117.19M | 98.01M | 27.5M | -42.17M | -89.83M | -124.02M | -127.88M | -44M |
| Debt / Equity | 1.81x | 1.53x | 3.13x | 2.58x | 1.25x | 1.15x | 0.68x | - | - | - |
| Debt / EBITDA | 10.99x | 21.80x | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | 5.43x | 9.28x | - | - | - | - | - | - | - | - |
| Interest Coverage | 5.83x | 0.66x | -5.30x | -11.22x | -23.28x | -19.14x | -6.38x | - | - | -53.08x |
| Total Equity | 228.49M | 270.67M | 148.04M | 178.89M | 242.09M | 266.98M | 366.73M | 307.94M | 104.09M | -56.37M |
| Equity Growth % | 297.29% | 82.83% | -17.24% | -26.1% | -9.32% | -27.2% | 19.09% | 195.83% | 284.68% | - |
| Book Value per Share | 2.88 | 2.91 | 1.61 | 1.94 | 2.73 | 3.16 | 4.61 | 4.70 | 1.41 | -0.94 |
| Total Shareholders' Equity | 216.53M | 253.59M | 129.83M | 171.6M | 240.98M | 266.98M | 366.73M | 307.94M | 104.09M | -56.37M |
| Common Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Retained Earnings | -416.51M | -421.8M | -595.17M | -552.43M | -477.25M | -348.82M | -248.11M | -179.21M | -128.87M | -88.13M |
| Treasury Stock | 0 | -3.84M | 0 | -50M | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -715K | -183K | -485K | -733K | -1.59M | -669K | 343K | 137K | 0 | -3.73M |
| Minority Interest | 11.96M | 17.07M | 18.22M | 7.29M | 1.11M | 0 | 0 | 0 | 0 | 0 |
Persistent negative retained earnings
As reported in financial statements, PagerDuty's equity base has contracted from $253.6 million in 2026Q4 to $216.5 million in 2027Q1, reflecting a trend where capital accumulation is hindered by persistent negative retained earnings and aggressive capital return strategies despite the company's established market position.
The decline in total equity suggests that the company is prioritizing shareholder returns over balance sheet fortification during a period of slowing top-line growth. Investors should monitor whether this trajectory limits future strategic flexibility, particularly if the current pace of share repurchases continues to outstrip organic capital generation.
Based on recent SEC filings, PagerDuty maintains a debt-to-equity ratio of 1.81 as of 2027Q1, a figure that has fluctuated significantly from a peak of 3.59 in 2025Q3, indicating a strategic, albeit volatile, approach to managing long-term liabilities relative to the company's shrinking equity base.
The debt load appears relatively stable in absolute terms, yet the rising D/E ratio highlights the sensitivity of the balance sheet to equity volatility. This leverage profile warrants further investigation into the maturity schedule of these obligations and the company's ability to service them if cash flow generation were to face unexpected headwinds.
According to the latest quarterly data, PagerDuty's current ratio stands at 1.95, providing a stable liquidity buffer that, while down from the 2.52 observed in 2025Q1, remains adequate to cover short-term operational requirements and potential fluctuations in working capital needs.
The liquidity position appears robust enough to support ongoing operations, though the decline in cash reserves from $371.8 million in 2026Q1 to $208.9 million in 2027Q1 suggests that cash is being deployed rapidly. This trend may indicate that the company is relying on its liquidity cushion to fund share buybacks rather than reinvesting in growth initiatives.
As evidenced by the company's financial disclosures, PagerDuty carries a substantial accumulated deficit with retained earnings reaching -$416.5 million in 2027Q1, a persistent structural distortion that suggests the business has yet to achieve the cumulative profitability required to sustain its capital structure without external financing or equity dilution.
This deep negative retained earnings balance is a critical risk factor that may be masked by headline net income figures. Investors should consider that this deficit effectively limits the company's ability to pay dividends or absorb significant operational shocks without further impacting the already thin equity base.
Quick answers to the most common questions about buying PD stock.
As of 2026, PagerDuty, Inc. (PD) had total assets of $990.5M including $612.2M in current assets.
PagerDuty, Inc. (PD) carries total debt of $413.3M, offset by $469.8M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
PagerDuty, Inc. (PD) has total shareholders' equity (book value) of $253.6M ($2.91 book value per share). Book value represents the net worth of the company belonging to common stock holders.
PagerDuty, Inc. (PD) reported a current ratio of 2.01x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.