The Descartes Systems Group Inc. (DSGX) Balance Sheet
DSGX balance sheet, FY2026
January 31, 2026 · U.S. dollars$1.88B assets = $275.0M liabilities + $1.61B equity
Both columns are drawn to the same scale: what DSGX owns equals what it owes plus shareholders’ equity. Hover a block for its value.
DSGX financial health
Descriptive bands, not a rating. Fiscal FY2026.
DSGX balance sheet trends, FY2017–FY2026
| Metric | Trend | Then | Latest | Change |
|---|---|---|---|---|
| Total assets | $500.5MFY2017 | $1.88BFY2026 | +15.9%/yr | |
| Total liabilities | $69.9MFY2017 | $275.0MFY2026 | +16.4%/yr | |
| Shareholders’ equity | $430.6MFY2017 | $1.61BFY2026 | +15.8%/yr | |
| Cash & short-term investments | $38.1MFY2017 | $354.3MFY2026 | +28.1%/yr | |
| Total debt | $2.2MFY2017 | $8.3MFY2026 | +16.1%/yr | |
| Net cash (debt) | $36.0MFY2017 | $346.0MFY2026 | +$310.0M | |
| Working capital | $18.7MFY2017 | $257.2MFY2026 | +$238.5M | |
| Book value per share | $5.63FY2017 | $18.37FY2026 | +14.0%/yr | |
| Current ratio | 1.35FY2017 | 2.16FY2026 | +0.81 | |
| Debt / equity | 0.01FY2017 | 0.01FY2026 | 0.00 | |
| Shares outstanding | 76.5MFY2017 | 87.6MFY2026 | +1.5%/yr |
Change is the average annual growth (CAGR) or the difference between the first and latest year.
DSGX assets
DSGX liabilities and equity
DSGX debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease obligations.
DSGX balance sheet
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||
| Cash & short-term investments | $354.3M | $236.1M | $321.0M | $276.4M | $213.4M | $133.7M | $44.4M | $27.3M | $35.1M | $38.1M |
| Cash & equivalents | $354.3M | $236.1M | $321.0M | $276.4M | $213.4M | $133.7M | $44.4M | $27.3M | $35.1M | $38.1M |
| Short-term investments | — | — | −$2.0M | — | — | — | — | — | — | $0 |
| Receivables | $90.7M | $70.9M | $51.6M | $45.2M | $41.7M | $52.0M | $42.4M | $35.8M | $32.0M | $29.1M |
| Inventory | $100,374 | $712,464 | $353,000 | $759,000 | $868,000 | $429,000 | $411,000 | $95,000 | $123,000 | $167,000 |
| Other current assets | $34.0M | $44.8M | $45.3M | $36.3M | $36.0M | $16.9M | $13.0M | $9.0M | $7.6M | $5.1M |
| Total current assets | $479.1M | $352.6M | $418.2M | $358.7M | $292.1M | $203.1M | $100.2M | $72.2M | $74.9M | $72.6M |
| Property, plant & equipment (net) | $21.5M | $20.1M | $17.8M | $18.2M | $21.4M | $24.3M | $26.6M | $12.6M | $12.8M | $10.4M |
| Goodwill & intangible assets | $1.35B | $1.25B | $1.01B | $905.5M | $838.4M | $805.2M | $780.6M | $554.4M | $528.1M | $408.6M |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $33.9M | $28.7M | $26.8M | $33.7M | $33.6M | $30.8M | $35.1M | $14.1M | $9.1M | $9.0M |
| Total assets | $1.88B | $1.65B | $1.47B | $1.32B | $1.19B | $1.06B | $942.6M | $653.3M | $624.9M | $500.5M |
| Liabilities | ||||||||||
| Accounts payable | $20.7M | $20.6M | $17.5M | $10.6M | $10.6M | $8.0M | $7.7M | $5.1M | $7.9M | $4.7M |
| Short-term debt | $3.5M | $3.5M | $3.1M | $3.4M | $4.0M | $4.2M | $3.9M | $34.2M | $3.3M | $2.2M |
| Deferred revenue | $117.9M | $103.9M | $84.0M | $67.8M | $56.8M | $49.9M | $41.1M | $34.2M | $31.0M | $23.7M |
| Total current liabilities | $221.8M | $217.0M | $203.6M | $169.6M | $133.4M | $104.3M | $88.9M | $70.4M | $67.7M | $53.8M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $25.5M | $37.0M | $0 |
| Lease obligations | $8.4M | $7.9M | $7.0M | $7.3M | $11.4M | $13.1M | $13.4M | — | — | — |
| Other long-term liabilities | $53.2M | $45.4M | $32.6M | $47.1M | $52.2M | $47.9M | $31.9M | $24.0M | $21.4M | $16.1M |
| Total liabilities | $275.0M | $262.4M | $236.3M | $216.7M | $185.6M | $152.2M | $120.9M | $119.8M | $126.1M | $69.9M |
| Shareholders' equity | ||||||||||
| Common stock & paid-in capital | $587.1M | $568.3M | $551.2M | $538.4M | $536.3M | $531.8M | $524.2M | $276.8M | $274.5M | $253.2M |
| Retained earnings (deficit) | $523.7M | $364.0M | $220.8M | $104.8M | $2.6M | −$83.7M | −$135.8M | −$172.8M | −$211.6M | −$238.5M |
| Accumulated other comprehensive income | −$7.9M | −$50.5M | −$28.6M | −$30.5M | −$12.4M | −$1.2M | −$25.9M | −$25.2M | −$15.3M | −$32.8M |
| Total shareholders' equity | $1.61B | $1.39B | $1.24B | $1.10B | $999.8M | $911.1M | $821.7M | $533.5M | $498.8M | $430.6M |
| Key figures | ||||||||||
| Total debt | $8.3M | $8.3M | $7.0M | $7.3M | $11.4M | $13.1M | $13.4M | $59.7M | $40.3M | $2.2M |
| Net cash (debt) | $346.0M | $227.9M | $314.0M | $269.1M | $202.0M | $120.6M | $31.0M | −$32.4M | −$5.1M | $36.0M |
| Working capital | $257.2M | $135.5M | $214.6M | $189.1M | $158.6M | $98.8M | $11.3M | $1.9M | $7.2M | $18.7M |
| Tangible book value | $259.4M | $139.0M | $226.6M | $193.9M | $161.4M | $105.9M | $41.1M | −$20.9M | −$29.3M | $22.0M |
| Book value per share | $18.37 | $15.86 | $14.26 | $12.72 | $11.60 | $10.62 | $9.92 | $6.86 | $6.47 | $5.63 |
| Shares outstanding | 87.6M | 87.3M | 86.8M | 86.5M | 86.2M | 85.8M | 82.9M | 77.8M | 77.1M | 76.5M |
| Current ratio | 2.16 | 1.62 | 2.05 | 2.11 | 2.19 | 1.95 | 1.13 | 1.03 | 1.11 | 1.35 |
| Quick ratio | 2.01 | 1.41 | 1.83 | 1.90 | 1.91 | 1.78 | 0.98 | 0.90 | 0.99 | 1.25 |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.11 | 0.08 | 0.01 |
| Equity / assets | 85.4% | 84.1% | 84.0% | 83.5% | 84.3% | 85.7% | 87.2% | 81.7% | 79.8% | 86.0% |
| Jul '26 | Apr '26 | Jan '26 | Oct '25 | Jul '25 | Apr '25 | Jan '25 | Oct '24 | Jul '24 | Apr '24 | Jan '24 | Oct '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Assets | ||||||||||||
| Cash & short-term investments | $401.1M | $377.0M | $356.5M | $278.7M | $240.6M | $176.4M | $236.1M | $181.3M | $252.7M | $238.9M | $321.0M | $279.6M |
| Cash & equivalents | $401.1M | $377.0M | $356.5M | $278.7M | $240.6M | $176.4M | $236.1M | $181.3M | $252.7M | $238.9M | $321.0M | $279.6M |
| Short-term investments | — | — | — | — | — | — | — | — | $105,725 | — | — | — |
| Receivables | $89.2M | $91.0M | $91.2M | $87.5M | $61.3M | $76.1M | $70.9M | $71.6M | $73.5M | $65.6M | $51.6M | $67.3M |
| Inventory | $411,037 | $251,000 | $101,000 | $206,913 | $534,000 | $475,448 | $715,000 | $0 | $1 | $1 | $353,000 | $897,000 |
| Other current assets | $33.2M | $34.2M | $34.2M | $34.5M | $58.2M | $42.6M | $44.8M | $40.7M | $39.0M | $37.1M | $45.3M | $26.3M |
| Total current assets | $523.9M | $502.5M | $482.1M | $400.9M | $360.7M | $295.6M | $352.6M | $293.6M | $365.2M | $341.7M | $418.2M | $374.1M |
| Property, plant & equipment (net) | $21.5M | $22.3M | $21.7M | $20.0M | $20.9M | $21.7M | $20.1M | $18.6M | $18.8M | $18.4M | $17.7M | $17.0M |
| Goodwill & intangible assets | $1.38B | $1.36B | $1.36B | $1.37B | $1.34B | $1.36B | $1.25B | $1.28B | $1.15B | $1.16B | $1.01B | $1.01B |
| Long-term investments | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Other non-current assets | $34.0M | $34.0M | $34.1M | $32.4M | $31.9M | $32.2M | $28.7M | $27.7M | $27.6M | $27.5M | $22.6M | $26.8M |
| Total assets | $1.96B | $1.92B | $1.90B | $1.82B | $1.76B | $1.71B | $1.65B | $1.62B | $1.57B | $1.54B | $1.47B | $1.43B |
| Liabilities | ||||||||||||
| Accounts payable | $16.4M | $18.5M | $20.9M | $15.9M | $16.1M | $23.2M | $20.6M | $20.6M | $21.3M | $19.1M | $17.5M | $14.2M |
| Short-term debt | $3.3M | $3.4M | $3.5M | $3.2M | $3.3M | $3.4M | $3.5M | $2.8M | $2.9M | $3.1M | $3.1M | $3.1M |
| Deferred revenue | $123.9M | $125.9M | $117.9M | $117.0M | $116.9M | $109.6M | $103.9M | $101.1M | $103.7M | $96.3M | $84.5M | $81.2M |
| Total current liabilities | $259.6M | $245.2M | $223.2M | $218.6M | $211.9M | $218.8M | $217.0M | $218.9M | $203.7M | $228.7M | $203.6M | $209.0M |
| Long-term debt | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 | $0 |
| Lease obligations | $7.5M | $8.1M | $8.4M | $7.6M | $8.0M | $7.9M | $7.9M | $6.9M | $7.2M | $7.4M | $7.0M | $5.9M |
| Other long-term liabilities | $52.7M | $45.7M | $53.5M | $50.4M | $44.2M | $39.1M | $45.4M | $44.1M | $49.9M | $48.0M | $32.6M | $36.7M |
| Total liabilities | $312.3M | $290.9M | $276.8M | $269.0M | $256.1M | $258.0M | $262.4M | $263.0M | $253.7M | $276.7M | $236.3M | $245.7M |
| Shareholders' equity | ||||||||||||
| Common stock & paid-in capital | $593.0M | $594.9M | $590.7M | $586.9M | $583.4M | $574.8M | $568.3M | $564.8M | $561.9M | $557.7M | $547.8M | $547.5M |
| Retained earnings (deficit) | $557.2M | $536.8M | $527.0M | $482.0M | $438.3M | $400.3M | $364.0M | $326.7M | $290.1M | $255.4M | $219.4M | $188.9M |
| Accumulated other comprehensive income | −$40.1M | −$10.8M | −$8.0M | −$21.6M | −$20.6M | −$21.3M | −$50.5M | −$34.0M | −$34.2M | −$36.0M | −$28.4M | −$40.4M |
| Total shareholders' equity | $1.65B | $1.63B | $1.62B | $1.55B | $1.50B | $1.45B | $1.39B | $1.36B | $1.31B | $1.27B | $1.23B | $1.19B |
| Key figures | ||||||||||||
| Total debt | $7.5M | $8.1M | $8.4M | $12.0M | $8.0M | $7.9M | $8.3M | $6.9M | $7.2M | $7.4M | $7.0M | $5.9M |
| Net cash (debt) | $393.6M | $368.9M | $348.2M | $266.7M | $232.7M | $168.5M | $227.9M | $174.3M | $245.4M | $231.5M | $314.0M | $273.7M |
| Working capital | $264.3M | $257.3M | $258.8M | $182.4M | $148.8M | $76.8M | $135.5M | $74.7M | $161.4M | $113.0M | $214.6M | $165.0M |
| Tangible book value | $267.0M | $267.8M | $261.1M | $184.3M | $157.4M | $91.6M | $139.0M | $77.0M | $157.9M | $110.9M | $223.7M | $172.1M |
| Book value per share | $18.92 | $18.65 | $18.49 | $17.70 | $17.12 | $16.58 | $15.81 | $15.53 | $15.04 | $14.54 | $14.15 | $13.68 |
| Shares outstanding | 87.1M | 87.4M | 87.6M | 87.6M | 87.6M | 87.6M | 87.6M | 87.3M | 87.2M | 87.1M | 86.9M | 86.8M |
| Current ratio | 2.02 | 2.05 | 2.16 | 1.83 | 1.70 | 1.35 | 1.62 | 1.34 | 1.79 | 1.49 | 2.05 | 1.79 |
| Quick ratio | 1.89 | 1.91 | 2.01 | 1.68 | 1.43 | 1.15 | 1.41 | 1.16 | 1.60 | 1.33 | 1.83 | 1.66 |
| Debt / equity | 0.00 | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 |
| Equity / assets | 84.1% | 84.9% | 85.4% | 85.2% | 85.4% | 84.9% | 84.1% | 83.8% | 83.8% | 82.1% | 84.0% | 82.8% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported (latest annual report filed March 11, 2026); data from EODHD.
DSGX financial position
At the end of fiscal 2026 (January 31, 2026), Descartes Systems had total assets of $1.9 billion (up 14.4% from a year earlier), total liabilities of $275.0 million and shareholders' equity of $1.6 billion. It held $354.3 million in cash and short-term investments against $8.3 million of debt, a net cash position of $346.0 million. Its current ratio was 2.16. In the latest quarter (ended July 31, 2026) total assets were $2.0 billion and equity $1.6 billion.
Related: DSGX income statement, DSGX cash flow statement, DSGX key metrics. See the DSGX stock overview for the latest quote and news.
DSGX balance sheet FAQ
What are Descartes Systems's total assets?
Descartes Systems reported total assets of $1.9 billion at the end of fiscal 2026 (January 31, 2026), compared with $1.6 billion a year earlier.
How much debt does Descartes Systems have?
Descartes Systems had $8.3 million of total debt at the end of fiscal 2026, including short-term borrowings and lease obligations. Its debt-to-equity ratio was 0.01.
How much cash does Descartes Systems have?
Descartes Systems held $354.3 million in cash and short-term investments at the end of fiscal 2026; with $8.3 million of debt that is net cash of $346.0 million.
What is Descartes Systems's book value?
Descartes Systems's shareholders' equity (book value) was $1.6 billion at the end of fiscal 2026, or $18.37 per share.
What is Descartes Systems's current ratio?
Descartes Systems had current assets of $479.1 million and current liabilities of $221.8 million, a current ratio of 2.16 (it can cover its short-term obligations).
How much goodwill does Descartes Systems have?
Descartes Systems carried $1.3 billion of goodwill and intangible assets, 71.6% of total assets, at the end of fiscal 2026.