Pricing Log in Create free account
Friday 6 November 2026 Export NOW’s income statement to Excel — free account

ServiceNow, Inc.

NOW Technology Software Application

ServiceNow, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $13.3 billion, up 20.9% from fiscal 2024.

Revenue
+20.5%
EPS
−44.2%
Free cash flow
+31.5%
Total debt
+404.6%

Quarter to September 2026, against a year earlier

102.19 0.17 −0.17%
Market cap
$106.3B
P/E
73.1×
Fwd P/E
73.2×
Dividend yield
—
F-score
4/9
Altman Z
8.31
Beneish M
−2.90
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by products and services Fiscal 2025

  • Subscription
  • Professional services and other

Every year since 2011 →

Insider Decisions last twelve months

Bought, $m 3.00
Sold, $m 6.69
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — 1 — — — — — — — — —
Sell 1 — 4 — 1 5 — — 4 — — —
Insider Ownership 0.48%

Capital & Financial Ratios $m

Size
Market Cap 106,250.00
Revenue ttm 15,431.00
Net income ttm 1,445.00
Free cash flow ttm 4,750.00
Net debt Q 2,917.00
Valuation
P/E 73.14 (above 35: high)
Forward P/E 73.20 (above 35: high)
Price / sales 6.87
Forward P/S Powerpack
Price / FCF 22.52
Price / book 8.09 (above 6: high)
Financial health
Current ratio Q 0.72 (below 1: weak)
Debt / equity Q 0.57
Interest coverage Q 4.75
Growth
Revenue growth Q +20.52% (above 0%: growing)
Operating income growth Q −32.69% (below 0%: shrinking)
EPS, this year +12.43%
EPS, next year A +21.59% (at or above 15%: strong)
Revenue, next year A +22.26% (at or above 10%: strong)
EPS, past 5 yrs +69.89% (at or above 15%: strong)
EPS, next 5 yrs A +18.65% (at or above 15%: strong)

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 7.1×, against a ten-year median of 14.4×; over the ten years it ranged from 6.3× in 2026 to 24.8× in 2021.
P/E against its own 10 years 8.44%
10-year low 10-year high
P/S against its own 10 years 0.84%
10-year low 10-year high
P/B against its own 10 years 0.92%
10-year low 10-year high
EV/Sales against its own 10 years 1.32%
10-year low 10-year high
EV/FCF against its own 10 years 2.60%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2023 2024 2025 Q'26
Cash 4,877 5,762 6,284 4,607
Receivables 2,036 2,240 2,627 2,222
Inventory — — — —
Other — — — —
7,777 9,187 10,471 8,477
2023 2024 2025 Q'26
Payables 126 68 204 231
ST’ Debt — — — 2,086
Other — — — —
7,365 8,358 10,443 11,795

Compound Annual Growth %

10y 5y 3y
Sales 29.44% 24.06% 22.38%
Cash Flow 32.86% 24.97% 25.98%
Earnings 0.00% 71.16% 75.21%
Book Value 36.75% 35.54% 37.09%

Earnings Trends EPS, adjusted, against the consensus

Q3 FY26 Estimate 1.02 Actual 1.00

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q4 FY25 0.87 0.92 Beat by 0.05
Q1 FY26 0.95 0.97 Beat by 0.02
Q2 FY26 0.86 0.90 Beat by 0.04
Q3 FY26 1.02 1.00 Miss by 0.02
Q4 FY26 1.15 — Reports 27 January 2027

EPS $

Mar Jun Sep Dec Year
’26 0.45 0.29 0.27 — —
’25 0.44 0.37 0.48 0.38 1.67
’24 0.33 0.25 0.41 0.37 1.37
’23 0.15 1.02 0.23 0.29 1.68
’22 0.07 0.02 0.08 0.15 0.32
’21 0.08 0.06 0.06 0.03 0.23
’20 0.05 0.04 0.01 0.02 0.12
Fiscal quarters ending in the months shown.

Revenue $m

Mar Jun Sep Dec Year
’26 3,770 3,987 4,106 — —
’25 3,088 3,215 3,407 3,568 13,278
’24 2,603 2,627 2,797 2,957 10,984
’23 2,096 2,150 2,288 2,437 8,971
’22 1,722 1,752 1,831 1,940 7,245
’21 1,360 1,409 1,512 1,615 5,896
’20 1,046 1,071 1,152 1,250 4,519
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Mar Jun Sep Dec Year
’26 1,670 587 839 — —
’25 1,677 716 813 2,238 5,444
’24 1,341 620 671 1,635 4,267
’23 902 580 311 1,605 3,398
’22 863 433 265 1,162 2,723
’21 727 300 320 844 2,191
’20 492 368 241 685 1,786
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Mar Jun Sep Dec Year
’26 1,529 473 748 — —
’25 1,438 526 569 2,000 4,533
’24 1,185 349 469 1,372 3,375
’23 737 448 172 1,344 2,701
’22 770 282 103 1,018 2,173
’21 620 209 226 737 1,792
’20 409 257 150 538 1,354
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 16.4% a year for ten years.

Implied
16.4%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.4
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to December

Ten-year view Analyst estimates Powerpack
Group Line 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 TTM Sep ’26 Trend 10 yrs 2026e 2027e 2028e Next 3/yr
Income, $m
Income, $m Revenue 1,391 1,918 2,609 3,460 4,519 5,896 7,245 8,971 10,984 13,278 15,431 +28.5% 16,234 19,265 22,780 +19.7%
Gross margin, % 71.32 73.95 76.13 76.99 78.16 77.05 78.29 78.59 79.18 77.53 73.08 +6.2 pt
EBT (410) (113) (39) 67 150 249 399 1,008 1,738 2,261 2,022 n/m
EBT margin, % (29.51) (5.91) (1.50) 1.94 3.32 4.22 5.51 11.24 15.82 17.03 13.10 +46.5 pt
Net income (414) (117) (27) 627 119 230 325 1,731 1,425 1,748 1,445 n/m
Per share, $
Per share, $ Revenue 1.69 2.24 2.93 3.71 4.68 5.95 7.19 8.79 10.67 12.81 14.91 +25.2%
Earnings (0.55) (0.14) (0.03) 0.67 0.12 0.23 0.32 1.70 1.38 1.69 1.40 n/m
Cash flow 0.19 0.75 0.91 1.33 1.85 2.21 2.70 3.33 4.15 5.25 5.15 +44.3%
Capex (0.15) (0.18) (0.28) (0.36) (0.45) (0.40) (0.55) (0.68) (0.87) (0.88) (0.56) +21.6%
Free cash flow 0.04 0.57 0.63 0.96 1.40 1.81 2.16 2.65 3.28 4.37 4.59 +67.4%
Book value 0.47 0.91 1.25 2.28 2.94 3.73 5.00 7.47 9.34 12.50 12.65 +44.0%
Shares, m 823 856 889 932 965 990 1,007 1,021 1,029 1,037 1,035 +2.6%
Valuation, ×
Valuation, × P/E 0.00 0.00 0.00 85.03 887.82 554.79 239.44 81.07 153.42 90.65 73.14 209.2
P/S 8.95 11.76 12.14 15.21 23.52 21.81 10.72 15.64 19.87 11.96 6.87 15.2
P/B 32.17 28.96 28.50 24.74 37.51 34.80 15.43 18.40 22.71 12.25 8.09 25.5
EV/Sales 8.67 11.44 11.88 14.94 23.22 21.52 10.35 15.28 19.48 11.61 7.06 14.8
EV/FCF 346.73 45.94 55.12 58.27 81.90 72.81 35.42 51.12 63.41 34.00 23.13 84.5
Cash, $m
Cash, $m Operating cash flow 159 643 811 1,236 1,786 2,191 2,723 3,398 4,267 5,444 5,334 +48.1%
Capex (124) (157) (249) (338) (432) (399) (550) (697) (892) (911) (584) +24.8%
Free cash flow 35 486 562 898 1,354 1,792 2,173 2,701 3,375 4,533 4,750 +71.8%
Balance, $m
Balance, $m Working capital 271 382 332 74 785 271 649 412 829 28 (3,318) (22.3%)
Net debt (392) (606) (836) (943) (1,380) (1,728) (2,794) (3,389) (4,273) (4,793) 2,917 +32.1%
Shareholders’ equity 387 779 1,111 2,128 2,834 3,695 5,032 7,628 9,609 12,964 13,096 +47.7%
Returns, %
Returns, % ROA (21.57) (4.19) (0.72) 12.66 1.61 2.36 2.70 11.28 7.55 7.53 5.39 +29.1 pt
ROIC 0.00 (23.28) (9.64) 2.22 8.55 8.17 9.91 11.23 15.98 13.95 5.83 +14.0 pt
ROE (86.87) (20.05) (2.83) 38.71 4.80 7.05 7.45 27.35 16.53 15.49 11.85 +102.4 pt
People
People Employees 4,801 6,222 8,154 10,371 13,000 16,881 20,433 22,668 26,293 29,187 — +22.2%
Revenue/emp, $m 0.29 0.31 0.32 0.33 0.35 0.35 0.35 0.40 0.42 0.45 — +5.1%
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Dec 2025 · latest quarter Sep 2026 · fundamentals updated 5 Nov 2026

Business profile

Updated

ServiceNow sells cloud-based software that helps organizations coordinate work across departments and computer systems. Its customers include private enterprises and public-sector organizations. The company was founded in 2004 and is headquartered in Santa Clara. William R. McDermott is chairman and chief executive officer.

The ServiceNow AI Platform connects people, processes and data. Its applications help customers manage IT services and security, handle customer requests, support employees and build their own workflows. For example, a customer can use the platform to coordinate employee onboarding across IT provisioning, payroll, compliance and facilities. The platform can connect to outside data sources without moving or copying the underlying data.

Where the money comes from and where it goes Fiscal 2025

Fiscal 2025: revenue by products and services, and margins
Subscription 12,883 97.03%
Professional services and other 395 2.97%
Gross margin 77.53%
Operating margin 13.74%
Pre-tax margin 17.03%

Revenue by segment since 2011

ServiceNow, Inc. vs peers in Software Application (Q) = latest quarter vs a year earlier

Company Market cap P/E Fwd P/E Revenue growth (Q) EPS growth (Q) FCF growth (Q) Gross margin (Q) EBIT margin (Q) Compare
CRM Salesforce, Inc. $183.0B 20.2× 21.9× +10.83% (above 0%: growing) +118.27% (above 0%: growing) +81.49% (above 0%: growing) 76.65% 20.55% Compare
UBER Uber Technologies, Inc. $140.5B 39.7× 20.5× +9.65% (above 0%: growing) −91.22% (below 0%: shrinking) +13.68% (above 0%: growing) 43.46% 9.80% Compare
ADP Automatic Data Processing, Inc. $121.3B 27.1× 23.8× +6.10% (above 0%: growing) +13.51% (above 0%: growing) −4.05% (below 0%: shrinking) 46.00% 26.64% Compare
NOW ServiceNow, Inc. $106.3B 73.1× 73.2× +20.52% (above 0%: growing) −44.21% (below 0%: shrinking) +31.46% (above 0%: growing) 70.51% 9.38%
ADBE Adobe Inc. $95.9B 13.7× 13.7× +12.89% (above 0%: growing) +10.77% (above 0%: growing) +14.68% (above 0%: growing) 88.71% 34.82% Compare
SNOW Snowflake Inc. $95.1B — (loss-making) — (loss-making) +35.09% (above 0%: growing) n/m +47.23% (above 0%: growing) 67.02% (17.00%) Compare
INTU Intuit Inc. $94.8B 21.4× 16.8× +13.65% (above 0%: growing) −1.47% (below 0%: shrinking) +253.37% (above 0%: growing) 78.11% 10.91% Compare
CDNS Cadence Design Systems, Inc. $85.5B 61.7× 67.7× +21.99% (above 0%: growing) −0.15% (below 0%: shrinking) +30.67% (above 0%: growing) 85.57% 26.25% Compare
DDOG Datadog, Inc. $62.7B 237× 431× +35.16% (above 0%: growing) +229.90% (above 0%: growing) +17.14% (above 0%: growing) 80.19% 6.24% Compare
Median of peers $95.5B 27.1× 21.9× +13.27% +10.77% +23.90% 77.38% 15.73%

All 230 Software Application stocks →

From the latest earnings call

Updated

  • CEO William McDermott said AI net new annual contract value grew year over year in Q3, while customers increasingly used agentic AI in production.
  • CFO Gina Mastantuono said ServiceNow is including deployment expertise in select large AI deals and recording its value as professional services rather than subscription revenue.

Analyst rating changes each firm’s latest, last six months

Firm Date Action Rating Target
UBS Nov 3, 2026 Target cut — 150.00 → 140.00
Wells Fargo Nov 3, 2026 Target cut — 190.00 → 175.00
Morgan Stanley Nov 3, 2026 Target cut — 180.00 → 160.00
Bernstein Oct 28, 2026 Target raised Outperform 248.00 → 266.00
Bank of America Oct 26, 2026 Target raised Buy 180.00
Guggenheim Oct 24, 2026 Target raised — 125.00 → 175.00
Citi Oct 22, 2026 Target raised — —
Oppenheimer Oct 22, 2026 Target raised — —
Barclays Oct 22, 2026 Target raised — —
BMO Oct 20, 2026 Reiterated Outperform —

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 81.68%
Held by the ten largest 36.30%
Holder Shares Stake Change
Vanguard 103.42m 10.00% −563.98k
BlackRock 96.06m 9.29% −1.44m
State Street 49.04m 4.74% +979.73k
Morgan Stanley 26.63m 2.58% +3.28m
Geode Capital Management 24.27m 2.35% −149.31k
UBS 21.96m 2.12% +3.22m
T. Rowe Price 16.07m 1.55% −18.04m
JPMorgan Chase 13.95m 1.35% −17.05m
Norges Bank 12.46m 1.21% +12.46m
Fidelity (FMR) 11.40m 1.10% −889.12k
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.

Pay and ownership Proxy statement filed 6 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2025 51.55m (83.29m) 139.00
2024 37.56m 201.99m 193.00
2023 37.61m 184.78m 128.00
2022 38.50m (76.35m) 71.00
2021 165.80m 136.18m 118.00

Ownership

Directors and executive officers, together less than 1%
BlackRock, Inc. 8.80%
The Vanguard Group, Inc. 8.70%
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s shares at the start of the earliest year shown was worth at each year’s end. Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more. Read the proxy statement

ServiceNow, Inc. (NOW) Latest News

6 Nov

Impact 3 · · TIKR

4 Nov

Impact 3 · · Zacks

3 Nov

Impact 3 · · TIKR
Impact 3 · · Simply Wall St.
Impact 3 · · Barchart

2 Nov

Impact 3 · · Simply Wall St.
Impact 3 · · StockStory
Impact 3 · · 24/7 Wall St.

30 Oct

Impact 3 · · TheStreet
Impact 3 · · Trefis
Impact 3 · · The Motley Fool
Impact 3 · · Trefis

29 Oct

Impact 4 · · StockStory
Impact 4 ·
Impact 4 · · The Motley Fool earnings
Impact 4 · · Fortune
Impact 4 · · The Motley Fool
Impact 4 · · TIKR
Impact 4 · · Zacks earnings
Impact 4 · · Stocktwits
Impact 4 · · TIKR
Impact 4 · · Zacks
Impact 4 · · 24/7 Wall St.
Impact 4 · · InvestorsHub
Impact 4 · · TIKR earnings
Impact 3 · · The Motley Fool
Impact 3 · · Moby
Impact 3 ·
Impact 3 · · Trefis
Impact 3 · · 24/7 Wall St.

NOW metrics, ten years each

stockrow.com/NOW · Data as of Nov 5, 2026 · For information only; not investment advice. · © 2026 stockrow.com