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Overview of Deloitte's Q3 2025 CFO Signals Report

On October 1, 2025, Deloitte released its latest CFO Signals Report for Q3 2025, providing insights from North America's premier chief financial officers (CFOs). The report, spearheaded by Steve Gallucci, national leader of Deloitte's CFO Program, highlights a significant trend: while apprehension looms over the global economy, CFOs express a notable increase in confidence regarding their respective firms.

Key Findings

The report's CFO confidence score saw a rise to 5.7, up from the previous quarter's score of 5.4. This increase is a sign that some executives are becoming more optimistic about their individual company outlooks in comparison to the broader economic landscape. Notably, only 19% of CFOs currently assess North America’s economic situation as “good,” which reflects a slight decline from 23% last quarter, underlining the cautious sentiment prevailing among financial leaders.

Growth Expectations

Despite the prevailing uncertainties, CFOs have adjusted their forecasts upward for several business metrics, including revenue, earnings, dividends, capital spending, and domestic hiring. This optimistic outlook is juxtaposed against a backdrop of ongoing fears, particularly concerning external risks such as inflation, which is a concern for 50% of CFOs surveyed. Additionally, issues surrounding cybersecurity and fluctuating interest rates contribute to their cautious approach.

Internal Challenges

CFOs also highlighted several internal factors that they believe could hinder their organizations' performance. An overwhelming 51% deemed talent acquisition and retention to be significant risks. Simultaneously, both productivity and cost management were flagged as areas requiring focused attention by 50% and 47% of CFOs, respectively.

Risk Appetite

The sentiment among CFOs regarding risk-taking remains tempered. Approximately 65% of respondents indicated that now is not an ideal time for increased risk exposure. This general hesitation showcases a keen awareness of the complexities facing businesses today as they navigate both market opportunities and challenges.

Capital Markets Position

Interestingly, views on capital markets appear divided. Approximately 20% of CFOs characterize equity markets as “extremely undervalued,” while about 22% hold the reverse opinion, suggesting they are “extremely overvalued.” This disparity further illustrates the mixed feelings CFOs harbor about market trends and their ramifications on strategic decision-making.

Significance of the Report

Deloitte's quarterly CFO Signals Report serves as a crucial indicator of sentiment and forward-thinking strategies among corporate financial leaders. As businesses contend with both risks and opportunities in the current economic environment, these insights shine a light on where CFOs are choosing to invest resources and how they plan for future challenges.

Deloitte’s commitment to fostering corporate strategy amidst economic uncertainties underscores its role as a leader in professional services, dedicated to impacting client success positively while navigating today’s complex challenges.

Conclusion

As we dissect the sentiments captured through the Q3 2025 CFO Signals Report, it becomes evident that while caution persists about the overall economic landscape, the renewed optimism among CFOs regarding their businesses may pave the way for more strategic investments and organizational growth. Deloitte continues to provide valuable insights, making it a vital partner for businesses looking to navigate financial complexities effectively.