In the latest release of the
Deloitte CFO Signals™ report for Q4 2025, findings from a recent survey among chief financial officers (CFOs) in North America indicate remarkable levels of optimism regarding current and future economic conditions. This quarterly report serves as a significant gauge for corporate financial leaders, shedding light on their perspectives and anticipated strategic moves as they approach the year 2026.
The confidence score reported by CFOs stands at
6.6 out of 10, marking the highest level recorded in a span of four years, an increase from
5.7 in the previous quarter. This uptick in confidence can be attributed to a noticeable improvement in the overall economic outlook, with
36% of CFOs rating the current North American economy as "very good" or "good", nearly double the
19% reported last quarter. Furthermore, an impressive
56% anticipate that economic conditions will significantly improve within the coming year.
A remarkable rebound in risk appetite was also noted, with
59% of CFOs proclaiming that it is an opportune time to embrace greater risks, a stark increase from the
36% who felt the same way in the last quarter. This rising willingness to take risks is crucial as it could facilitate various investments and expansions across numerous sectors.
Despite the overwhelming optimism, there are signs of caution as growth expectations have seen a decline. Forecasts for critical metrics such as revenue and earnings have all dipped since Q4, highlighting a more nuanced outlook amid the optimistic sentiment.
When assessing external risks, CFOs pointed to economic factors as foremost concerns.
56% indicated the economy as a top external risk, followed closely by
53% citing inflation, and
48% had concerns about fluctuating interest rates and cybersecurity threats, respectively. Internally, CFOs expressed worries about
cost management (53%),
efficiency and productivity (52%), and
talent acquisition and retention (47%).
Interestingly, interest in debt financing among CFOs is on the rise, flipping the paradigm in which such methods may have been viewed with skepticism not long ago. Over half (54%) of the respondents deemed debt financing as either "very attractive" or "attractive," illustrating a shift that could impact strategic funding decisions moving forward.
What does this heightened optimism signal for the broader market? It may suggest a renaissance in corporate confidence, potentially driving growth and innovation across industries. The CFO Signals report acts not just as a reflection of current sentiments but also as a predictive insight into how corporate strategies may evolve.
Deloitte's extensive reach as a consultancy firm allows it to gather and analyze data on a grand scale, contributing valuable insight to the economic discourse. With nearly
90% of Fortune 500 companies among its clients, the implications of the findings can be far-reaching. As the economic landscape continues to shift, these insights afford companies the clarity needed to navigate complexities and remain competitive.
As we transition into a new year, Deloitte’s CFO Signals report serves as a vital tool for CFOs to gauge both the economic climate and their organizations' standing within it, thereby equipping them to tackle future challenges with informed strategies.
The Q4 results will be available on the CFO Signals dashboard for those looking to dive deeper into these insights and analyses. Understanding the pulse of CFO sentiments serves as a critical compass for business leaders in today's fluctuating economic environment.