ServiceNow, Inc.

NOW · NYSE · USD

Financials

Annual

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Valuation and market statistics · USD millions unless noted · ratios on the twelve months ending at each period

Line item	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Valuation
Market cap	$159,071	$218,721	$144,869	$78,431	$129,173	$109,536	$56,182	$35,432	$25,948	$14,794	$17,225	$9,862	$7,583	$3,813	–	–	–	–	–
Enterprise value	$155,190	$215,237	$142,276	$76,383	$128,083	$108,579	$55,621	$34,596	$25,342	$14,402	$16,899	$9,637	$7,364	$3,498	–	–	–	–	–
P/E (TTM) at period end	91.00×	153.49×	83.69×	241.32×	561.62×	920.47×	89.60×	–	–	–	–	–	–	–	–	–	–	–	–
P/S (TTM) at period end	11.98×	19.91×	16.15×	10.83×	21.91×	24.24×	16.24×	13.58×	13.42×	10.64×	17.13×	14.45×	17.86×	15.65×	–	–	–	–	–
P/B at period end	12.27×	22.76×	18.99×	15.59×	34.96×	38.65×	26.41×	31.92×	33.32×	27.34×	30.39×	23.01×	19.23×	15.67×	–	–	–	–	–
EV / EBITDA (TTM)	60.57×	111.64×	107.46×	96.93×	175.70×	202.95×	189.19×	322.79×	512.17×	–	–	–	–	–	–	–	–	–	–
EV / Sales (TTM)	11.69×	19.60×	15.86×	10.54×	21.72×	24.03×	16.08×	13.26×	13.11×	10.36×	16.81×	14.12×	17.34×	14.35×	–	–	–	–	–
Returns
Return on equity	13.5%	14.8%	22.7%	6.5%	6.2%	4.2%	29.5%	(2.4%)	(15.0%)	(76.6%)	(35.0%)	(41.8%)	(18.7%)	(15.5%)	–	–	–	–	–
Return on invested capital	12.1%	11.7%	9.5%	5.0%	5.7%	4.8%	1.7%	(2.4%)	(5.3%)	(59.0%)	(26.4%)	(24.5%)	(15.0%)	(30.2%)	–	–	–	–	–
Dividend yield	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–	–
Financial health
Current ratio	1.00×	1.10×	1.06×	1.11×	1.05×	1.21×	1.03×	1.17×	1.19×	1.25×	1.48×	1.79×	2.43×	1.99×	1.10×	1.04×	–	–	–
Debt / equity	0.12×	0.15×	0.20×	0.30×	0.43×	0.58×	0.33×	0.60×	1.51×	0.94×	0.84×	1.03×	1.05×	–	–	–	–	–	–
Effective tax rate	22.7%	18.0%	(71.7%)	18.5%	7.6%	20.8%	(833.5%)	31.6%	(3.0%)	(0.9%)	(2.8%)	(2.2%)	(3.5%)	(3.8%)	12.0%	(1.0%)	(0.8%)	–	7.5%
Share count
Diluted shares outstanding	1,047	1,042	1,028	1,018	1,016	1,012	986	889	856	823	779	727	677	370	140	116	602	602	602

StatisticsIncome statementBalance sheetCash flowDividendsSegments

Income statement · USD millions

Line item	TTM	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018	FY2017	FY2016	FY2015	FY2014	FY2013	FY2012	FY2011	FY2010	FY2009	FY2008	FY2007
Revenue and gross profit
Revenue	$14,732	$13,278	$10,984	$8,971	$7,245	$5,896	$4,519	$3,460	$2,609	$1,933	$1,391	$1,005	$683	$425	$244	$93	$43	$19	$9	$2
Cost of revenue	($3,717)	($2,983)	($2,287)	($1,921)	($1,573)	($1,353)	($987)	($796)	($623)	($500)	($399)	($329)	($249)	($155)	($104)	($32)	($16)	($8)	($5)	($1)
Gross profit	$11,015	$10,295	$8,697	$7,050	$5,672	$4,543	$3,532	$2,664	$1,986	$1,419	$992	$676	$434	$269	$140	$61	$27	$11	$4	$1
Operating expenses
Research and development	($3,261)	($2,960)	($2,543)	($2,124)	($1,768)	($1,397)	($1,024)	($749)	($530)	($378)	($285)	($217)	($148)	($79)	($39)	($7)	($7)	($2)	($2)	($3)
Selling, general and administrative	($1,280)	($1,123)	($936)	($863)	($735)	($597)	($454)	($339)	($296)	($211)	($159)	($127)	($96)	($62)	($34)	($9)	($29)	($6)	($8)	($3)
Total operating expenses	($9,335)	($8,471)	($7,333)	($6,288)	($5,317)	($4,286)	($3,333)	($2,622)	($2,029)	($1,483)	($1,374)	($842)	($586)	($336)	($177)	($51)	($55)	($17)	($10)	($5)
Total costs and expenses	($13,052)	($11,454)	($9,620)	($8,209)	($6,890)	($5,639)	($4,320)	($3,418)	($2,651)	($1,997)	($1,773)	($1,172)	($834)	($491)	($281)	($82)	($72)	($25)	($15)	($6)
Operating income	$1,680	$1,824	$1,364	$762	$355	$257	$199	$42	($42)	($64)	($382)	($166)	($152)	($66)	($38)	$11	($28)	($6)	($6)	($4)
Earnings
EBITDA	$2,751	$2,562	$1,928	$1,324	$788	$729	$535	$294	$107	$49	($299)	($106)	($110)	($42)	($24)	$12	($28)	($6)	–	–
Interest income	$378	$451	$419	$302	$82	$20	$39	$55	$56	$6	$9	$4	$3	$1	$0	–	$1	–	–	–
Interest expense	($83)	($23)	($23)	($24)	($27)	($28)	($33)	($33)	($53)	($53)	($33)	($31)	($29)	($3)	–	–	–	($1)	–	($0)
Pre-tax income	$2,346	$2,261	$1,738	$1,008	$399	$249	$149	$67	($39)	($113)	($410)	($193)	($176)	($71)	($36)	$11	($29)	($6)	($6)	($4)
Income tax expense	($676)	($513)	($313)	$723	($74)	($19)	($31)	$560	$12	($3)	($4)	($5)	($4)	($3)	($1)	($1)	($0)	($0)	–	$0
Net income	$1,670	$1,748	$1,425	$1,731	$325	$230	$119	$627	($27)	($117)	($414)	($198)	($179)	($74)	($37)	$10	($30)	($6)	($6)	($4)
Per share
Diluted EPS (GAAP)	$1.60	$1.67	$1.37	$1.68	$0.32	$0.226	$0.118	$0.636	($0.03)	($0.136)	($0.504)	($0.254)	($0.246)	($0.108)	($0.102)	$0.016	($0.262)	($0.0098)	($0.0098)	($0.00616)
Basic EPS (GAAP)	$1.61	$1.69	$1.38	$1.70	$0.322	$0.232	$0.122	$0.672	($0.03)	($0.136)	($0.504)	($0.254)	($0.246)	($0.108)	($0.102)	$0.018	($0.262)	($0.0098)	($0.0098)	($0.00616)
Basic shares outstanding	1,036	1,037	1,029	1,021	1,007	990	965	932	889	856	823	779	727	677	370	91	116	602	602	602
Margins
Gross margin	74.8%	77.5%	79.2%	78.6%	78.3%	77.1%	78.2%	77.0%	76.1%	73.4%	71.3%	67.2%	63.6%	63.4%	57.3%	65.9%	62.6%	59.4%	47.7%	63.2%
Operating margin	11.4%	13.7%	12.4%	8.5%	4.9%	4.4%	4.4%	1.2%	(1.6%)	(3.3%)	(27.5%)	(16.5%)	(22.2%)	(15.6%)	(15.4%)	11.4%	(65.1%)	(30.2%)	(67.0%)	(215.8%)
Net margin	11.3%	13.2%	13.0%	19.3%	4.5%	3.9%	2.6%	18.1%	(1.0%)	(6.0%)	(29.8%)	(19.7%)	(26.3%)	(17.4%)	(15.3%)	10.6%	(68.6%)	(30.6%)	(67.0%)	(194.7%)

Analyst consensus

Buy70 analysts

Bearish · 1 · Hold · 8 · Bullish · 61

Earnings history

	EPS	Estimate
Q3 2024	$0.42	$0.69	Miss
Q4 2024	$0.73	$0.73	Match
Q1 2025	$0.81	$0.77	Beat
Q2 2025	$0.82	$0.71	Beat
Q3 2025	$0.96	$0.85	Beat
Q4 2025	$0.92	$0.89	Beat
Q1 2026	$0.97	$0.97	Match
Q2 2026	$0.90	$0.86	Beat

Peers

Company overview

IPO dateJun 29, 2012

CEOWilliam R. McDermott

Employees29,187

SectorTechnology

IndustrySoftware - Application

CountryUS

ExchangeNew York Stock Exchange

Websitewww.servicenow.com

ServiceNow, Inc. specializes in delivering cloud-based solutions designed to streamline and automate critical business services for organizations across the globe. Its flagship "Now Platform" serves as the foundation, leveraging technologies such as workflow automation, artificial intelligence (AI), machine learning (ML), and robotic process automation (RPA). This platform also incorporates robust features like performance analytics, electronic service catalogs, configuration management systems, data benchmarking, encryption capabilities, and various collaboration and development tools. ServiceNow offers a comprehensive suite of applications built on this platform, catering to diverse enterprise needs. Key offerings include IT Service Management (ITSM), which streamlines support for employees, customers, and partners; IT Business Management (ITBM); IT Operations Management (ITOM), designed to integrate and manage both physical and cloud-based IT infrastructure; and IT Asset Management (ITAM) for automating asset lifecycles. Its Security Operations solution facilitates seamless integration between internal systems and third-party security tools. Beyond IT, the company provides solutions for Governance, Risk, and Compliance (GRC) to enhance organizational resilience, along with tools for Human Resources, Legal, and general workplace service delivery, including dedicated safe workplace applications. Other specialized applications cover Customer Service Management (CSM) and Field Service Management (FSM). To further extend functionality, ServiceNow offers App Engine for custom development and IntegrationHub to connect workflows across various applications. The company also provides a range of professional services, industry-specific solutions, and comprehensive customer support. ServiceNow's diverse client base spans critical sectors such as government, financial services, healthcare, telecommunications, manufacturing, and education, alongside various IT services, technology, oil and gas, and consumer product industries. The company reaches these customers through a combination of its direct sales force and a network of resale partners. Notably, a strategic alliance with Celonis assists clients in pinpointing and prioritizing business processes ripe for automation. Established in 2004 and headquartered in Santa Clara, California, the company originally operated as Service-now.com before rebranding to ServiceNow, Inc. in May 2012.

Athenic provides research and information tools for educational purposes only and is not a registered investment adviser or broker-dealer. Nothing on this page is investment advice or a recommendation to buy or sell any security. Market data may be delayed. Past performance is not indicative of future results. Investing involves risk, including the possible loss of principal.