Tearsheet

ServiceNow (NOW)


Market Price (9/15/2025): $929.89 | Market Cap: $192.6 Bil
Sector: Information Technology | Industry: Systems Software

ServiceNow (NOW)


Market Price (9/15/2025): $929.89
Market Cap: $192.6 Bil
Sector: Information Technology
Industry: Systems Software

Investment Highlights

0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
  Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 95x, P/EPrice/Earnings or Price/(Net Income) is 116x
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%, CFO LTM is 4.7 Bil, FCF LTM is 3.8 Bil
  Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7%
2 Low stock price volatility
Vol 12M is 40%
  
0 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 21%
1 Attractive cash flow generation
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is 39%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is 32%, CFO LTM is 4.7 Bil, FCF LTM is 3.8 Bil
2 Low stock price volatility
Vol 12M is 40%
3 Expensive valuation multiples
P/EBITPrice/EBIT or Price/(Operating Income) ratio is 95x, P/EPrice/Earnings or Price/(Net Income) is 116x
4 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -3.7%

Market Valuation

 9/15/252024202320222021
Share Price CYE$929.89$1,060.12$706.49$388.27$649.11
Market Cap CYE ($ Bil)192.6218.8144.678.7129.4
Total Debt ($ Bil)2.42.32.32.22.2
Total Cash ($ Bil)6.15.84.94.33.3
Enterprise Value ($ Bil)188.9221.1146.980.9131.6
Valuation Ratios     
P/S TTM16.019.916.110.821.8
P/EBIT TTM95.0123.9139.8220.3500.3
P/E TTM116.0153.183.3240.6559.1
Sector Ratios     
P/S TTM (Sector)3.23.12.82.55.0
P/EBIT TTM (Sector)4.0-0.0-0.1-0.51.9
P/E TTM (Sector)-0.4-0.3-0.4-0.50.1
 9/15/2520242023
Share Price CYE$929.89$1,060.12$706.49
Market Cap CYE ($ Bil)192.6218.8144.6
Total Debt ($ Bil)2.42.32.3
Total Cash ($ Bil)6.15.84.9
Enterprise Value ($ Bil)188.9221.1146.9
Valuation Ratios   
P/S TTM16.019.916.1
P/EBIT TTM95.0123.9139.8
P/E TTM116.0153.183.3
Sector Ratios   
P/S TTM (Sector)3.23.12.8
P/EBIT TTM (Sector)4.0-0.0-0.1
P/E TTM (Sector)-0.4-0.3-0.4

Business Description

ServiceNow, Inc. provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide. It operates the Now platform for workflow automation, artificial intelligence, machine learning, robotic process automation, performance analytics, electronic service catalogs and portals, configuration management systems, data benchmarking, encryption, and collaboration and development tools. Show more

Price Returns Compared

Expand for Detailed View

 202020212022202320242025Total [1]
Returns
NOW Return95%18%-40%82%50%-12%229%
Peers Return132%1%-57%50%8%-11%46%
S&P 500 Return16%27%-19%24%23%12%104%

[1] Cumulative total returns since the beginning of 2020
[2] Peers: TEAM, PEGA, ALRM, VRNT, FSLY. See NOW Returns vs. Peers.
[3] 2025 data is for the year up to 9/12/2025 (YTD)

Latest Trefis Analyses

Recent Active Movers

Recent Active Movers

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Peer Comparisons for ServiceNow

Financials

NOWTEAMPEGAALRMVRNTFSLYMedian
NameServiceN.AtlassianPegasyst.Alarm.comVerint S.Fastly  
Mkt Price928.96174.8758.0755.6820.337.7356.88
Mkt Cap192.446.09.92.81.21.16.3
Rev LTM12,0575,2151,6769768945711,326
Op Inc LTM1,601-13027912677-139101
FCF LTM3,8051,41640616111312284
FCF 3Y Avg3,0541,224277131120-35204
CFO LTM4,6991,46041618013853298
CFO 3Y Avg3,8281,2592941451497221

Growth & Margins

NOWTEAMPEGAALRMVRNTFSLYMedian
NameServiceN.AtlassianPegasyst.Alarm.comVerint S.Fastly  
Rev Chg LTM21.1%19.7%12.5%7.8%-2.3%7.4%10.1%
Rev Chg 3Y Avg22.3%23.0%11.2%6.6%-0.2%13.7%12.4%
Rev Chg Q22.4%22.3%9.5%8.8%-1.0%12.3%10.9%
QoQ Delta Rev Chg LTM5.1%5.1%2.0%2.1%-0.2%2.9%2.5%
Op Mgn LTM13.3%-2.5%16.7%12.9%8.6%-24.3%10.7%
Op Mgn 3Y Avg10.1%-5.0%7.7%9.6%8.9%-34.8%8.3%
QoQ Delta Op Mgn LTM0.3%0.9%-0.1%0.4%-1.2%2.0%0.4%
CFO/Rev LTM39.0%28.0%24.8%18.5%15.5%9.3%21.7%
CFO/Rev 3Y Avg38.1%28.6%19.2%15.7%16.6%0.8%17.9%
FCF/Rev LTM31.6%27.1%24.2%16.5%12.6%2.1%20.4%
FCF/Rev 3Y Avg30.3%27.8%17.9%14.2%13.4%-7.3%16.0%

Valuation

NOWTEAMPEGAALRMVRNTFSLYMedian
NameServiceN.AtlassianPegasyst.Alarm.comVerint S.Fastly  
Mkt Cap192.446.09.92.81.21.16.3
P/S16.08.85.92.81.42.04.4
P/EBIT94.9-672.633.215.915.2-8.215.6
P/E115.9-179.145.021.420.0-7.620.7
P/CFO41.031.523.815.48.921.122.5
Total Yield0.9%-0.6%2.3%4.7%5.0%-13.1%1.6%
Dividend Yield0.0%0.0%0.1%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg1.9%2.6%4.4%4.5%7.1%-2.2%3.5%
D/E0.00.00.00.40.40.40.2
Net D/E-0.0-0.0-0.00.00.20.1-0.0

Returns

NOWTEAMPEGAALRMVRNTFSLYMedian
NameServiceN.AtlassianPegasyst.Alarm.comVerint S.Fastly  
1M Rtn7.1%4.7%10.3%-0.2%4.3%11.2%5.9%
3M Rtn-6.0%-11.2%17.6%-1.7%18.4%10.1%4.2%
6M Rtn10.0%-19.9%61.5%-4.8%-6.5%12.8%2.6%
12M Rtn5.7%6.8%72.9%0.8%-22.9%15.4%6.2%
3Y Rtn113.3%-30.9%190.7%-18.0%-45.9%-21.6%-19.8%
1M Excs Rtn5.8%4.8%8.0%-5.0%-2.7%4.9%4.9%
3M Excs Rtn-16.7%-21.2%5.9%-12.0%2.1%-9.8%-10.9%
6M Excs Rtn-4.8%-35.2%51.4%-23.3%-21.7%-2.1%-13.2%
12M Excs Rtn-11.8%-12.0%60.1%-17.2%-41.3%13.7%-11.9%
3Y Excs Rtn43.7%-91.2%159.4%-85.6%-120.7%-80.0%-82.8%

Financials

Segment Financials

Revenue by Segment

$ Mil20242023202220212020
Digital workflow products7,6796,0774,8823,7492,811
Information Technology Operations Management (ITOM) products1,001814691537444
Professional services and other291354323233205
Total8,9717,2455,8964,5193,460


Price Behavior

Short Interest

Short Interest: As Of Date8292025
Short Interest: Shares Quantity3,385,267
Short Interest: % Change Since 81520254.0%
Average Daily Volume1,861,770
Days-to-Cover Short Interest1.82
Basic Shares Quantity207,164,000
Short % of Basic Shares1.6%

Earnings Returns History

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 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
7/23/20254.2%2.2%-8.3%
4/23/202515.5%17.5%25.0%
1/29/2025-11.4%-10.2%-18.7%
10/23/20245.4%4.7%15.4%
7/24/202413.4%11.4%12.3%
4/24/2024-4.0%-8.1%1.6%
1/24/20240.4%0.3%1.0%
10/25/20233.9%11.9%27.1%
...
SUMMARY STATS   
# Positive171817
# Negative767
Median Positive5.5%6.6%11.1%
Median Negative-3.6%-5.9%-5.2%
Max Positive15.5%20.0%27.1%
Max Negative-11.4%-13.9%-18.7%

Insider Activity

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 OwnerTitleFiling DateActionPriceSharesTransacted
Value
Value of
Held Shares
Form
0Fipps PaulPresident, Global Customer Ops8212025Sell895.051,4521,299,999408,661Form
1McDermott William RChairman & CEO8212025Sell900.001,5851,426,50211,195,112Form
2ELMER RUSSELL SGeneral Counsel8212025Sell884.261,6981,501,4733,830,614Form
3McBride Kevin ThomasPrincipal Accounting Officer8192025Sell851.77280238,4963,964,138Form
4Chamberlain Paul Edward 8182025Sell860.00300258,0008,501,960Form