Cloud & Enterprise Software

The Cloud & Enterprise Software sector encompasses 23 tracked companies carrying $77.6B 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 56% of sector debt at $43.2B.

Companies in Sector

Total Sector Debt

$77.6B

High Risk

Avg Risk Score

1.6

Company	Risk Score	Total Debt	12mo Due	Interest Coverage	Data
BILL Holdings BILL	5/10 Medium Risk	$1.7B	N/A	-5.3x	Partial
Salesforce CRM	4/10 Medium Risk	$14.4B	$4.0B	N/A	Partial
Oracle ORCL	3/10 Low Risk	$0	$7.3B	4.9x	Complete
Zscaler ZS	3/10 Low Risk	$1.1B	N/A	Loss	Limited
Adobe ADBE	2/10 Low Risk	$6.2B	$0	77.0x	Partial
Microsoft MSFT	2/10 Low Risk	$43.2B	$3.0B	43.8x	Complete
Workday WDAY	2/10 Low Risk	$3.0B	$0	6.3x	Partial
CrowdStrike CRWD	1/10 Low Risk	N/A	N/A	N/A	Limited
Datadog DDOG	1/10 Low Risk	N/A	N/A	N/A	Limited
Fortinet FTNT	1/10 Low Risk	N/A	$500M	N/A	Limited
HubSpot HUBS	1/10 Low Risk	N/A	N/A	N/A	Limited
Intuit INTU	1/10 Low Risk	$6.0B	$0	N/A	Partial
MongoDB MDB	1/10 Low Risk	N/A	N/A	N/A	Limited
Cloudflare NET	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
Snowflake SNOW	1/10 Low Risk	N/A	N/A	N/A	Limited
Atlassian TEAM	1/10 Low Risk	N/A	$0	N/A	Limited
Veeva Systems VEEV	1/10 Low Risk	N/A	N/A	N/A	Limited