System1 (SST) Debt Ratio (2021 - 2026)
System1's Debt Ratio came in at 1.00 for Q2 2026, up 63.2% from 0.61 a year earlier and up 7.5% from the prior quarter.
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Analysis
System1 (SST) Debt Ratio (2021 - 2026) Analysis & Trends
For FY2025, System1's Debt Ratio was 0.75, up 27.4% from FY2024.
- Debt Ratio has increased in each of the last three years.
- Going back by year, Debt Ratio was 0.59 in FY2024 (+2.5%), 0.58 in FY2023 (+61.6%), 0.36 in FY2022 (-73.1%) and 1.33 in FY2021.
- The Q2 2026 figure represents the highest quarterly Debt Ratio since Q4 2021.
- Year-over-year, Debt Ratio has increased for 14 consecutive quarters, with growth averaging 27.2% over the last eight quarters.
- The fastest year-over-year change in Debt Ratio over five years came in Q2 2026 (growth of 63.2%), and the weakest in Q4 2022 (a decline of 73.1%).
- Business Quant data shows SST's Debt Ratio at 0.93 (Q1 2026), 0.75 (Q4 2025) and 0.67 (Q3 2025) in the three quarters before Q2 2026.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Debt Ratio (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 0.11 |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 0.19 |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 0.24 |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | 0.09 |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | - |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 0.19 |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 0.68 |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | - |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 0.43 |
| 10 | System1 | 27.60 Mn | -232.22 Mn | 24.27 Mn | 1.00 |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.00 |
| Mar 31, 2026 | 0.93 |
| Dec 31, 2025 | 0.75 |
| Sep 30, 2025 | 0.67 |
| Jun 30, 2025 | 0.61 |
| Mar 31, 2025 | 0.64 |
| Dec 31, 2024 | 0.59 |
| Sep 30, 2024 | 0.57 |
| Jun 30, 2024 | 0.55 |
| Mar 31, 2024 | 0.55 |
| Dec 31, 2023 | 0.58 |
| Sep 30, 2023 | 0.43 |
| Jun 30, 2023 | 0.38 |
| Mar 31, 2023 | 0.37 |
| Dec 31, 2022 | 0.36 |
| Sep 30, 2022 | 0.34 |
| Jun 30, 2022 | 0.26 |
| Mar 31, 2022 | 0.26 |
| Dec 31, 2021 | 1.33 |
| Sep 30, 2021 | 0.00 |
API Access
System1 Debt Ratio API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=debt-ratio&ticker=SST&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "debt-ratio", "ticker": "SST", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=debt-ratio&ticker=SST&period=max&api_key=YOUR_API_KEY");
const data = await res.json();