ServiceNow, Inc. (NOW) financials

NYSE · Technology · Software - Application · 29,187 employees · CEO William R. McDermott

Price: $105.12 -4.15%
Market cap: $109B
Enterprise value: $115B
Last report: Q3 '26 filed 2026-10-28
Next report: 2027-01-27 EPS est. $1.07

Revenue (TTM)$15.4B+21.8% vs a year agoLast 4 quarters; bars = each quarter

Operating margin (TTM)9.7%-4.2 pp vs a year agoOperating income $1.49B

Net income (TTM)$1.45B-16.5% vs a year agoAfter tax, incl. non-operating gains

Free cash flow (TTM)$4.75B+20.0% vs a year agoCapex $584M

Diluted EPS (TTM)$1.39-16.3% vs a year agoSum of the last 4 quarters

Net cash-$3.81B-226.6% vs a year agoCash + short-term investments - debt

Valuation & key figures

Market cap: $109B
Revenue: $15.4B
Revenue growth: +22%
Profit margin: 9.4%
P/E: 75.1×
P/S: 7.1×
EV / EBITDA: 33.5×
Free cash flow: $4.75B
Net income: $1.45B
Revenue estimate: $16.2B
Earnings: 2027-01-27
Dividend: –

Key takeaways

Computed from the reported numbers - every statement carries the figure it rests on.

Last report (2026-10-28): revenue in line, EPS missed by 2.0%Revenue $4.11B vs $4.09B expected (+0.3%); EPS $1.00 vs $1.02 (-2.0%).
Revenue growth slowing: 20.5% year on yearQ3 '26 revenue $4.11B, against an average of 22.1% over the four quarters before.
Operating margin 9.7% (TTM), -4.2 pp on a year agoOperating income grew -14.9% while revenue grew 21.8%.
26.2% of pre-tax profit is non-operatingPre-tax income $2.02B vs operating income $1.49B (TTM). Gains on equity stakes and other one-off items lift net income and EPS - operating income is the cleaner measure of the business.
Capex 3.8% of revenue (a year ago 7.0%)$584M invested in the last 4 quarters (-33.9% on a year earlier). Free cash flow $4.75B = 328.7% of net income.
Returned $2.82B to shareholders = 59.4% of free cash flowBuybacks $2.82B (a year earlier $1.54B), dividends $0, stock-based pay $2.32B (TTM).
Diluted share count down 0.7% in a year1.04B diluted shares in Q3 '26, 1.05B a year earlier.
Net debt $3.81BCash + short-term investments $4.61B, debt incl. leases $8.42B; a year ago net cash $3.01B.

Last quarter: Q3 '26

Quarter ended 2026-09-30. Compared with the same quarter a year earlier and with the analyst consensus before the report.

Quarter vs a year ago

	Q3 '26	Year ago	Change
Revenue	$4.11B	$3.41B	+20.5%
Gross margin	70.5%	77.3%	-6.8 pp
Operating income	$385M	$572M	-32.7%
Operating margin	9.4%	16.8%	-7.4 pp
Net income	$277M	$502M	-44.8%
Diluted EPS	$0.27	$0.48	-43.7%
Operating cash flow	$839M	$813M	+3.2%
Capex	$91M	$235M	-61.3%
Free cash flow	$748M	$578M	+29.4%
R&D	$956M	$750M	+27.5%
Stock-based compensation	$630M	$492M	+28.0%

Reported vs consensus

2026-10-28

	Actual	Consensus	vs consensus
Revenue	$4.11B	$4.09B	+0.3%
EPS (as estimated)	$1.00	$1.02	-2.0%

From the report of 2026-10-28 for Q3 '26: revenue and the EPS analysts estimate (often adjusted), so it can differ from the EPS of the statements above.

EPS vs consensus

last 8 reports

Revenue

Where the money comes from - by business line and by region, quarter by quarter.

Revenue, operating income and growth

quarterly

Revenue by business line

stacked, quarterly

Segment	Q3 '26	y/y	Share	TTM	TTM y/y	12 quarters
License and Service	$3.99B	+20.9%	97.1%	$15B	–
Technology Service	$118M	+9.3%	2.9%	$429M	+11.7%

Revenue by region

share of total

Segment	Q3 '26	y/y	Share	TTM	TTM y/y
North America	$2.57B	+20.7%	62.7%	$9.7B	+22.3%
EMEA	$1.03B	+17.6%	25.0%	$3.92B	+19.2%
Asia Pacific And Other	$505M	+25.9%	12.3%	$1.81B	+25.1%

Margins & cost structure

How much of each unit of revenue is left at each level - and where the costs go.

Margins

quarterly

Costs as % of revenue

quarterly

Cash flow & capital allocation

Cash generated, what it is spent on, and what reaches shareholders.

Operating cash flow, capex, free cash flow

quarterly

Uses of cash vs operating cash flow

fiscal years

Last 4 quarters

cash flow statement

Operating cash flow: $5.33B
Capex: -$584M
Buybacks: -$2.82B
Dividends: $0
Acquisitions: -$10B
Net debt issued: $5.98B
Stock-based compensation: $2.32B
Free cash flow: $4.75B
Returned to shareholders / FCF: 59.4%

Share count and EPS

quarterly, diluted

Balance sheet

Liquidity, investments and debt at each quarter end.

Cash, investments and debt

quarter ends

Valuation & returns

Today's multiples against the company's own last five fiscal years; analyst targets and ratings.

Multiples and returns

TTM vs 5 fiscal years

	Now	5y average	Where today sits in the 5-year range
P/E (TTM)	75.1×	226.9×	83.1× – 564.4×
EV / EBITDA	33.5×	100.3×	52.5× – 172.3×
EV / Sales	7.5×	16.1×	10.9× – 21.9×
Price / FCF	23.0×	51.9×	34.7× – 71.8×
Price / Book	8.3×	20.8×	12.3× – 34.8×
FCF yield	4.4%	2.1%	1.4% – 2.9%
Return on invested capital	4.8%	6.7%	3.9% – 9.2%
Return on equity	11.5%	12.7%	6.2% – 22.7%

Analysts

Consensus target $163.78 (+55.8%)
range $110.00 – $266.00 · rating Buy

Strong buy0

Buy61

Hold8

Sell1

Strong sell0

Outlook

Analyst consensus for the coming fiscal years and what it implies at today's price.

Consensus estimates

Fiscal year	Revenue	Growth	EPS	Growth	P/E at today's price	Analysts (EPS)
FY2026	$16.2B	+22.2%	$3.95	+136.8%	26.6×	31
FY2027	$19.2B	+18.5%	$4.80	+21.5%	21.9×	26
FY2028	$22.7B	+18.1%	$5.87	+22.1%	17.9×	13
FY2029	$26.6B	+17.2%	$6.94	+18.4%	15.1×	10
FY2030	$31.3B	+17.7%	$8.49	+22.2%	12.4×	5

Financial statements

Every line of the income statement, balance sheet and cash flow statement - 12 quarters and 10 fiscal years, as values, as % of revenue or as growth.

Income statementRevenue, costs, operating income, net income and EPSOpen Balance sheetCash, investments, assets, debt, liabilities and equityOpen Cash flowOperating cash flow, capex, free cash flow, buybacks and dividendsOpen

Every reported line

All 273 figures ServiceNow, Inc. tagged in its recent 10-Q / 10-K filings, with the official SEC label and definition - including the notes (leases, taxes, buybacks, employees, ...).

Line (SEC label)	Latest quarter	Year ago	y/y	Latest FY	Prior FY	y/y
	$81M	$6M	+1,250.0%	–	–	–
Accounts Payable, Current	$231M	$146M	+58.2%	$204M	$68M	+200.0%
Accounts Receivable, after Allowance for Credit Loss, Current	$2.22B	$1.55B	+43.5%	$2.63B	$2.24B	+17.3%
Accrued Income Taxes	$114M2025-12-31	$68M	+67.6%	$114M	$68M	+67.6%
Accrued Liabilities, Current	$1.76B	$1.27B	+38.9%	$1.81B	$1.37B	+32.4%
Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment	$2.25B	$1.78B	+26.5%	$1.84B	$1.51B	+21.8%
Accumulated Other Comprehensive Income (Loss), Net of Tax	-$276M	-$17M	-1,523.5%	$19M	-$68M	+127.9%
Additional Paid in Capital, Common Stock	$12.5B	$8.93B	+39.5%	$10.7B	$7.4B	+45.2%
Advertising Expense	–	–	–	$348M	$295M	+18.0%
Amortization of Deferred Sales Commissions	$179M	$161M	+11.2%	$621M	$550M	+12.9%
Amortization of Intangible Assets	$198M	$33M	+500.0%	$120M	$94M	+27.7%
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	19.7M	11.9M	+65.4%	10.8M	3.56M	+203.4%
APIC, Share-based Payment Arrangement, Increase for Cost Recognition	$630M	$492M	+28.0%	$1.96B	$1.75B	+12.0%
Assets	$31.8B	$21.8B	+46.1%	$26B	$20.4B	+27.7%
Assets, Current	$8.48B	$8.36B	+1.4%	$10.5B	$9.19B	+14.0%
Assets, Fair Value Disclosure	$5.98B	$8.96B	-33.2%	$9.26B	$9.36B	-1.0%
Business Combination, Acquisition Related Costs	–	–	–	$96M	$0	–
Business Combination, Separately Recognized Transactions, Additional Disclosures, Acquisition Cost Expensed	$0	$0	–	–	–	–
Capital Expenditures Incurred but Not yet Paid	$26M	$26M	0.0%	$154M	$55M	+180.0%
Capitalized Contract Cost, Impairment Loss	–	–	–	$0	$0	–
Cash and Cash Equivalents, at Carrying Value	$2.39B	$2.73B	-12.2%	$3.73B	$2.3B	+61.7%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents	$2.41B	$2.73B	-12.0%	$3.73B	$2.31B	+61.6%
Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect	-$112M	-$399M	+71.9%	$1.42B	$406M	+250.2%
Commercial Paper	$2.1B	–	–	–	–	–
Common Stock, Capital Shares Reserved for Future Issuance	139M	21.8M	+539.0%	107M	24.4M	+340.8%
Common Stock, Par or Stated Value Per Share	$0.00	$0.00	0.0%	$0.00	$0.00	0.0%
Common Stock, Shares Authorized	3B	600M	+400.0%	3B	3B	0.0%
Common Stock, Shares, Issued	1.08B	211M	+411.3%	1.07B	1.04B	+2.4%
Common Stock, Shares, Outstanding	1.04B	208M	+400.0%	1.05B	1.03B	+1.4%
Common Stock, Value, Issued	$1M	$0	–	$1M	$1M	0.0%
Comprehensive Income (Loss), Net of Tax, Attributable to Parent	$45M	$534M	-91.6%	$1.84B	$1.39B	+31.6%
Contract with Customer, Asset, after Allowance for Credit Loss, Current	$606M	$559M	+8.4%	$590M	$517M	+14.1%
Contract with Customer, Asset, after Allowance for Credit Loss, Noncurrent	$1.16B	$1.02B	+13.9%	$1.11B	$999M	+11.5%
Contract with Customer, Liability, Current	$7.6B	$6.35B	+19.7%	$8.31B	$6.82B	+21.9%
Contract with Customer, Liability, Noncurrent	$133M	$115M	+15.7%	$120M	$95M	+26.3%
Contract with Customer, Liability, Revenue Recognized	$3.6B	$3B	+20.0%	$6.9B	$5.7B	+21.1%
Convertible Notes Payable, Noncurrent	$1.49B2026-03-31	$1.49B	+0.1%	$1.49B	$1.49B	+0.1%
Cost of Revenue	$1.21B	$774M	+56.5%	$2.98B	$2.29B	+30.4%
Current Federal Tax Expense (Benefit)	–	–	–	$36M	$36M	0.0%
Current Foreign Tax Expense (Benefit)	–	–	–	$183M	$130M	+40.8%
Current Income Tax Expense (Benefit)	–	–	–	$262M	$215M	+21.9%
Current State and Local Tax Expense (Benefit)	–	–	–	$43M	$49M	-12.2%
Debt Instrument, Unamortized Discount (Premium) and Debt Issuance Costs, Net	$62M	–	–	–	–	–
Debt Instrument, Unamortized Discount, Current	$14M	–	–	–	–	–
Debt Securities, Available-for-sale	$4.57B	$6.95B	-34.3%	$6.33B	$7.57B	-16.4%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax	$1M	$41M	-97.6%	$40M	$18M	+122.2%
Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax	$40M	$15M	+166.7%	$14M	$25M	-44.0%
Debt Securities, Available-for-sale, Amortized Cost	$4.61B	$6.93B	-33.5%	$6.3B	$7.58B	-16.8%
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer	$17M	$15M	+13.3%	$14M	$18M	-22.2%
Debt Securities, Available-for-sale, Current	$2.21B	$2.69B	-17.6%	$2.56B	$3.46B	-26.0%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, after Year One Through Five	$2.26B	$4.18B	-45.8%	$3.68B	$4.03B	-8.5%
Debt Securities, Available-for-Sale, Fair Value, Maturity, Allocated and Single Maturity Date, Year One	$2.21B	$2.69B	-17.6%	$2.56B	$3.46B	-26.1%
Debt Securities, Available-for-sale, Maturity, without Single Maturity Date, Fair Value	$92M	$90M	+2.2%	$89M	$86M	+3.5%
Debt Securities, Available-for-sale, Noncurrent	$2.35B	$4.27B	-44.8%	$3.77B	$4.11B	-8.3%
Debt Securities, Available-for-sale, Unrealized Loss Position	$3.49B	$362M	+863.5%	$171M	$2.42B	-92.9%
Deferred Federal Income Tax Expense (Benefit)	–	–	–	$169M	$51M	+231.4%
Deferred Foreign Income Tax Expense (Benefit)	–	–	–	$57M	$52M	+9.6%
Deferred Income Tax Assets, Net	$804M	$1.22B	-33.9%	$1.06B	$1.39B	-23.8%
Deferred Income Tax Expense (Benefit)	–	–	–	$251M	$98M	+156.1%
Deferred State and Local Income Tax Expense (Benefit)	–	–	–	$25M	-$5M	+600.0%

Source: SEC companyfacts (XBRL of every 10-Q / 10-K). Cash-flow quarters are derived from the year-to-date figures the 10-Q tags. Segment breakdowns are tagged with dimensions and are shown in the segment section instead.

Sources

Statements, segment revenue, metrics, estimates: Financial Modeling Prep. Segment profits and every reported line: SEC EDGAR (XBRL). Filings read: 10-Q 2026-09-30, 10-Q 2026-06-30, 10-Q 2026-03-31, 10-K 2025-12-31, 10-Q 2025-09-30, 10-Q 2025-06-30, 10-Q 2025-03-31, 10-K 2024-12-31, 10-Q 2024-09-30

Data as of 2026-11-01