As of Q4'25, ServiceNow (NOW) reported Cash & Short-term Investments of $6.28B and Debt of $3.20B. This marks a notable increase in both cash reserves and debt compared to previous quarters, with cash reaching its highest level in the period and debt also showing a significant uptick. From Q1'23 to Q4'25, the company's cash position generally trended upward, rising from $4.91B to $6.28B, despite some fluctuations, particularly a dip in Q3'23 and Q3'25. Debt remained relatively stable around $2.2B–$2.4B until Q4'25, when it spiked to $3.20B, indicating a recent increase in leverage. Overall, the chart reflects ServiceNow's strengthening liquidity position alongside a late-period rise in debt, suggesting potential strategic investments or financing activities.