ServiceNow (NOW) stock
Information Technology · Systems Software
ServiceNow (NOW) is a Systems Software company in the Information Technology sector, headquartered in Santa Clara, California. As of October 23, 2026, NOW closed at $158.96, a market capitalization of $164.34 billion, the 75th largest company in the S&P 500. Over the last twelve months it generated $14.73 billion in revenue (+24% year over year) and $4.57 billion in free cash flow. The stock trades at 99.4x trailing earnings and 31.8x forward earnings.
- 1-year total return: -15.4% (dividends reinvested)
- 5-year return: +3.0% a year
- 52-week range: $81.24 – $192.97
- Gross margin 74.8%, operating margin 4.1%
- FI Handbook report card: C+ across 10 metrics
- 26th largest of 75 Information Technology stocks in the S&P 500
NOW price chart
1Y price change: -15.4% (price only; total returns below include dividends)
| Total return | 1M | YTD | 1Y | 3Y | 5Y | 10Y | MAX |
|---|---|---|---|---|---|---|---|
| NOW | +12.9% | +3.8% | -15.4% | +13.7% | +3.0% | +25.8% | +27.5% |
Dividends reinvested. 3Y and longer are annualized; MAX is annualized since 2012.
NOW key statistics
- Market cap
- $164.3B
- #75 in S&P 500
- P/E (TTM)
- 99.4x
- Forward P/E
- 31.8x
- EPS (TTM)
- $1.60
- Revenue (TTM)
- $14.7B
- +24%
- Free cash flow
- $4.6B
- Gross margin
- 74.8%
- Operating margin
- 4.1%
- Return on equity
- 14.2%
- Dividend yield
- None
- 52-week range
- $81.24 – $192.97
- Beta
- 0.99
- Price / sales
- 11.2x
- EV / EBITDA
- 58.0x
- Debt / equity
- 0.68x
- Employees
- 29,187
NOW report card
C+Ten fundamentals graded A to F against fixed thresholds. Not a buy or sell rating.
- Revenue growth24.0%A
- Gross margin74.8%A
- Operating margin4.1%D
- FCF margin31.0%A
- Return on equity14.2%C
- Net debt / EBITDA1.3xC
- Forward P/E31.8xD
- PEG ratio1.1xB
- Shareholder yield1.1%D
- Share count change / yr0.7%D
ServiceNow financials
Revenue went from $1.4B in fiscal 2016 to $13.3B in fiscal 2025, growing 28.5% a year.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.4B | $1.9B | $2.6B | $3.5B | $4.5B | $5.9B | $7.2B | $9.0B | $11.0B | $13.3B |
| Gross profit | $992.0M | $1.4B | $2.0B | $2.7B | $3.5B | $4.5B | $5.7B | $7.0B | $8.7B | $10.3B |
| Operating income | -$382.2M | -$64.4M | -$42.4M | $42.0M | $199.0M | $257.0M | $355.0M | $762.0M | $1.4B | $1.8B |
| Net income | -$414.2M | -$116.8M | -$26.7M | $626.7M | $119.0M | $230.0M | $325.0M | $1.7B | $1.4B | $1.7B |
| EPS (diluted) | — | $-0.14 | $-0.03 | $0.64 | $0.12 | $0.23 | $0.32 | $1.68 | $1.37 | $1.67 |
| Free cash flow | $53.5M | $492.4M | $586.6M | $971.0M | $1.4B | $1.8B | $2.2B | $2.7B | $3.4B | $4.6B |
| Buybacks | $0 | $55.0M | $0 | $0 | — | $0 | $0 | $538.0M | $696.0M | $1.8B |
| Diluted shares | — | 855.9M | 889.2M | 986.1M | 1.0B | 1.0B | 1.0B | 1.0B | 1.0B | 1.0B |
Source: SEC filings (10-K XBRL). EPS and share counts are split-adjusted.
What's priced into NOW?
A reverse DCF asks what growth the current price requires. With an enterprise value of $168.1B and $4.6B of trailing free cash flow, ServiceNow needs to grow free cash flow about 26.2% a year for ten years (fading to 3.0% terminal growth) to earn a 10% annual return. For context, free cash flow grew 27.3% a year over the last five years.
P/E ratio history
Current 95.2x vs. median 173.1x (10th–90th percentile 84.8x–872.9x).
A model, not a forecast or advice. Small changes in assumptions move the answer a lot.
NOW earnings
Next report: October 28, 2026. ServiceNow has beaten EPS estimates 8 quarters in a row. Last quarter's revenue was $4.0B (+24% year over year).
| Report date | EPS estimate | EPS actual | Surprise |
|---|---|---|---|
| Jul 22, 2026 | $0.86 | $0.90 | +5.0% |
| Apr 22, 2026 | $0.97 | $0.97 | +0.4% |
| Jan 28, 2026 | $0.89 | $0.92 | +4.0% |
| Oct 29, 2025 | $0.85 | $0.96 | +13.0% |
| Jul 23, 2025 | $0.71 | $0.82 | +14.6% |
| Apr 23, 2025 | $0.77 | $0.81 | +5.4% |
| Jan 29, 2025 | $0.73 | $0.73 | +0.2% |
| Oct 23, 2024 | $0.69 | $0.74 | +7.8% |
Stocks like NOW
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|---|---|---|---|---|---|
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NOW news
- The Enterprise Agent Price Nobody Will Show You · Oct 25, 2026
- ServiceNow Wants to Be No. 1 in Security. Here’s What Its $7.75 Billion Armis Bet Must Show on October 28 · Oct 24, 2026
- ServiceNow’s Moment of Truth: Can Agentic AI Growth Justify a Premium 80x Earnings Multiple on Oct. 28? · Oct 24, 2026
- The AI Trade Is Shifting From Chip Stocks to Cybersecurity · Oct 24, 2026
- ServiceNow (NOW) Advances While Market Declines: Some Information for Investors · Oct 23, 2026
NOW stock FAQ
What is NOW's market cap?
ServiceNow's market capitalization is $164.34 billion as of October 23, 2026, ranking 75th in the S&P 500.
What is NOW's P/E ratio?
NOW trades at a trailing price-to-earnings ratio of 99.4x and a forward P/E of 31.8x. Its median P/E over the period we track is 173.1x.
Does NOW pay a dividend?
No. ServiceNow does not currently pay a regular cash dividend.
How much has NOW stock returned?
Including reinvested dividends, NOW returned -15.4% over one year, +3.0% a year over five years, +25.8% a year over ten years through October 23, 2026.
Is NOW stock overvalued?
At today's price, a reverse discounted cash flow model (10% discount rate, 3% terminal growth) implies ServiceNow must grow free cash flow about 26% a year for the next decade. Its free cash flow grew 27% a year over the last five years. Whether that is achievable decides if the stock is cheap or expensive. This is a model, not advice.
When does NOW report earnings?
ServiceNow is expected to report earnings on October 28, 2026. It has beaten EPS estimates 8 quarters in a row.
How many employees does ServiceNow have?
ServiceNow has about 29,187 full-time employees, or $504,745 of revenue per employee.
Sources: SEC EDGAR filings, Yahoo Finance market data (delayed), FI Handbook calculations. Last close October 23, 2026. Methodology