What is Asana's debt-to-equity?

Asana (ASAN) reported debt-to-equity of 2.1× in Q1 2026.

How has Asana's debt-to-equity changed year-over-year?

Asana's debt-to-equity increased by 65.4% year-over-year, from 1.3× to 2.1×.

What is the long-term trend for Asana's debt-to-equity?

Over 4 years (2022 to 2026), Asana's debt-to-equity has grown at a 6.6% compound annual growth rate (CAGR), from 1.3× to 1.6×.

What does debt-to-equity mean?

Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.

Asana ASAN Debt-to-equity

Debt-to-equity at other companies

MicrosoftMSFT

0.3×0.0×

AtlassianTEAM

1.4×+0.5×

Zoom Video Communications, Inc.ZM

0×0.0×

Workday, Inc.WDAY

0.6×+0.2×

Alphabet Inc.GOOGL

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Other financials

Income statement

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Revenue$205.1M+9.5%

Gross profit$179.7M+6.9%

Operating income-$15.2M+65.3%

Net income-$14.4M+64.0%

EPS (diluted)-$0.06+64.7%

Balance sheet

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Cash & equivalents$194.4M+0.1%

Total debt$286.4M-4.1%

Total equity$137.0M-42.0%

Total assets$805.5M-8.2%

Cash flow

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Operating cash flow$40.2M+495%

CapEx$2.8M+340%

Free cash flow$37.4M+511%

Valuation

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Market cap$1.54B-59.7%

Enterprise value$1.63B-58.4%

P/S1.9×-3.3×

Profitability

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Gross margin88.5%-0.9pp

Operating margin-20.9%-5.6pp

Net margin-20.2%-5.3pp

FCF margin14.6%+12.1pp

Returns & leverage

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Return on equity-87.6%+4.6pp

Current ratio1.1×-0.3×

Where this comes from

Calculated from Asana’s reported figures.

total debt/total stockholders equity=2.1×

Based on the most recent quarter.

The official record: Asana’s 10-Q, filed May 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Asana's debt-to-equity?: Asana (ASAN) reported debt-to-equity of 2.1× in Q1 2026.
How has Asana's debt-to-equity changed year-over-year?: Asana's debt-to-equity increased by 65.4% year-over-year, from 1.3× to 2.1×.
What is the long-term trend for Asana's debt-to-equity?: Over 4 years (2022 to 2026), Asana's debt-to-equity has grown at a 6.6% compound annual growth rate (CAGR), from 1.3× to 1.6×.
What does debt-to-equity mean?: Total debt (including capitalized leases and financing obligations) divided by shareholders' equity at the quarter end. Measures how much the company is financed by debt relative to equity.