ServiceNow, Inc.NOW
NYSE•Technology•Software - Application
ServiceNow, Inc. provides cloud-based solution for digital workflows in the North America, Europe, the Middle East and Africa, Asia Pacific, and internationally. The company provides asset management, integrated risk management, IT service management, Operational Technology management, Security Operations, strategic portfolio management, IT operations management products; customer service management product; field service management applications; and sales and order management services. It also offers human resources delivery; legal and contract operations; workplace service delivery products; app engine product; automation engine; platform privacy and security product; and source-to-pay operations. In addition, the company provides RaptorDB, a database built to manage workloads at scale; ServiceNow Impact that provides customers with software tools, guided plans, and AI-driven recommendations; customer support; and workflow data fabric. It serves government, financial services, healthcare and life science, manufacturing, Public Sector, retail, technology, and Telecom sectors through service providers and resale partners. The company has a strategic collaboration with Cohesity, Inc. to develop, operate, and safeguard autonomous AI agents and data with enterprise-grade reliability. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012. ServiceNow, Inc. was founded in 2004 and is headquartered in Santa Clara, California.
ServiceNow, Inc. (NOW) reported trailing twelve months revenue of $13.96B as of March 2026, a 21.7% increase year-over-year. Quarterly revenue reached $3.77B, reflecting continued top-line momentum.
ServiceNow, Inc. generated $1.76B in TTM net income, with quarterly EBITDA of $761.00M. The operating margin contracted from 14.6% to 13.3%, suggesting rising cost pressures or pricing headwinds.
The spread between operating margin (13.3%) and net margin (12.4%) indicates tight cost control with minimal non-operating drag. Net margin has narrowed from 14.9% a year ago, reflecting increased costs or interest expense.
NOW trades at a P/E of 62.1x (a premium multiple) and a P/S of 7.8x. The price-to-book ratio of 9.3x indicates a significant premium over book value.
The company generated $1.53B in free cash flow over the trailing twelve months, a 3.9% increase year-over-year, indicating strong cash generation ability. The balance sheet shows $24.38B in total assets with $1.49B in long-term debt against $11.73B in stockholders equity for a debt-to-equity ratio of 0.1, a conservative capital structure. Data based on the most recent quarterly reports.
Competitive analysis based on 21 quarters of fundamental data
Operating margins are expanding at ~13.1%, suggesting durable pricing power and cost discipline.
ROE is positive at ~14.6% on average, adequate but below the threshold typically associated with wide moats.
Free cash flow is consistently positive and growing — a hallmark of a capital-light business that can self-fund growth.
TTM revenue has grown consistently (7 of 7 quarters up), with ~40.2% growth over the period. Strong demand durability.
Data-driven red flags and warnings across 21 quarters
Margins are stable or improving at ~13.4% — no sign of cost or pricing stress.
FCF covers net income by 2.5x on average — earnings are well-supported by cash generation.
D/E ratio is 0.1 — conservative capital structure with low financial risk.
Revenue is stable or growing over recent quarters — demand appears durable.
Free cash flow is consistently positive — the business self-funds without external capital reliance.
Share count is stable — no significant dilution or buyback activity.
Quarterly standardized metrics.
Stock price and market valuation
Revenue and earnings growth across quarters
Assets, cash, debt, and leverage
Price multiples and return ratios
Operating efficiency and return metrics
Free cash flow, earnings quality, and capital allocation