ServiceNow, Inc. (NOW) Key Metrics
NOW valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $146.78B
- Enterprise value
- $149.34B
- P/E (TTM)
- 88.7 10-yr median 155.1
- Forward P/E
- 27.8
- PEG ratio
- 1.01
- Price / sales
- 10.0 10-yr median 14.1
- Price / book
- 11.6 10-yr median 27.3
- EV / EBITDA
- 42.7 10-yr median 156.4
- Dividend yield
- —
- Beta
- 0.99
NOW key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsNOW valuation Price multiples at each fiscal year-end price.
NOW returns How much profit the business earns on the capital it uses.
NOW per-share figures Results divided by the shares outstanding at year-end.
NOW financial health Debt, liquidity and how easily interest is covered.
NOW efficiency & capital use Working capital cycle and where the cash goes.
NOW valuation history
NOW returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
NOW debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
NOW cash returned to shareholders
NOW price vs earnings per share
NOW key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $160.39B | $220.95B | $145.25B | $79.03B | $131.88B | $111.45B | $55.68B | $31.67B | $22.32B | $12.23B |
| Enterprise value | $156.51B | $217.47B | $142.65B | $76.98B | $130.79B | $110.49B | $55.12B | $31.08B | $21.71B | $11.99B |
| P/E ratio | 91.8 | 155.1 | 83.9 | 243.2 | 573.4 | 936.6 | 88.8 | — | — | — |
| Price / sales | 12.1 | 20.1 | 16.2 | 10.9 | 22.4 | 24.7 | 16.1 | 12.1 | 11.5 | 8.8 |
| Price / book | 12.4 | 23.0 | 19.0 | 15.7 | 35.7 | 39.3 | 26.2 | 28.5 | 28.7 | 31.6 |
| Price / free cash flow | 35.1 | 64.7 | 53.7 | 36.4 | 73.6 | 82.3 | 62.0 | 56.3 | 46.0 | 388.2 |
| Price / operating cash flow | 29.5 | 51.8 | 42.7 | 29.0 | 60.2 | 62.4 | 45.0 | 39.0 | 34.7 | 76.5 |
| EV / sales | 11.8 | 19.8 | 15.9 | 10.6 | 22.2 | 24.4 | 15.9 | 11.9 | 11.2 | 8.6 |
| EV / EBITDA | 52.2 | 93.5 | 110.8 | 89.6 | 174.6 | 212.9 | 156.4 | 190.3 | 425.0 | — |
| EV / free cash flow | 34.2 | 63.7 | 52.8 | 35.4 | 73.0 | 81.6 | 61.4 | 55.3 | 44.7 | 380.4 |
| Earnings yield | 1.1% | 0.6% | 1.2% | 0.4% | 0.2% | 0.1% | 1.1% | −0.1% | −0.7% | −3.7% |
| Free cash flow yield | 2.9% | 1.5% | 1.9% | 2.7% | 1.4% | 1.2% | 1.6% | 1.8% | 2.2% | 0.3% |
| Dividend yield | — | — | — | 0.3% | 0.3% | 0.3% | 0.5% | — | — | — |
| Shareholder yield (dividends + buybacks) | 1.1% | 0.3% | 0.4% | 0.9% | 0.8% | 0.8% | 1.3% | 0.9% | 0.2% | 1.0% |
| Share price at fiscal year-end | $153.19 | $212.02 | $141.30 | $77.65 | $129.82 | $110.09 | $56.46 | $35.61 | $26.08 | $14.87 |
| Per share | ||||||||||
| Revenue per share | $12.68 | $10.54 | $8.73 | $7.12 | $5.80 | $4.46 | $3.51 | $2.93 | $2.26 | $1.69 |
| Earnings per share | $1.67 | $1.37 | $1.68 | $0.32 | $0.23 | $0.12 | $0.64 | −$0.03 | −$0.17 | −$0.55 |
| Operating cash flow per share | $5.20 | $4.09 | $3.31 | $2.68 | $2.16 | $1.76 | $1.25 | $0.91 | $0.75 | $0.19 |
| Free cash flow per share | $4.37 | $3.28 | $2.63 | $2.14 | $1.76 | $1.34 | $0.91 | $0.63 | $0.57 | $0.04 |
| Cash per share | $6.00 | $5.53 | $4.74 | $4.21 | $3.25 | $3.05 | $1.71 | $1.68 | $2.08 | $1.09 |
| Book value per share | $12.38 | $9.22 | $7.42 | $4.94 | $3.64 | $2.80 | $2.16 | $1.25 | $0.91 | $0.47 |
| Tangible book value per share | $7.89 | $7.80 | $6.01 | $3.91 | $2.59 | $2.41 | $1.85 | $0.97 | $0.66 | $0.29 |
| Dividends per share | — | — | — | $0.25 | $0.44 | $0.36 | $0.31 | — | — | — |
| Capex per share | $0.83 | $0.82 | $0.68 | $0.54 | $0.39 | $0.43 | $0.34 | $0.28 | $0.18 | $0.16 |
| Debt per share | $2.30 | $2.19 | $2.22 | $2.19 | $2.18 | $2.11 | $1.15 | $1.03 | $1.37 | $0.80 |
| Shares outstanding | 1.05B | 1.04B | 1.03B | 1.02B | 1.02B | 1.01B | 986.1M | 889.2M | 855.9M | 822.7M |
| Change in shares outstanding | +0.5% | +1.4% | +1.0% | +0.2% | +0.3% | +2.7% | +10.9% | +3.9% | +4.0% | +5.7% |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 15.5% | 16.5% | 27.3% | 7.4% | 7.0% | 4.8% | 38.7% | −2.8% | −25.6% | −94.7% |
| Return on invested capital (ROIC) | 18.5% | 20.0% | 19.0% | 10.3% | 10.6% | 9.2% | 4.0% | −9.6% | −50.9% | −144.4% |
| Return on assets (ROA) | 7.5% | 7.5% | 11.3% | 2.7% | 2.4% | 1.6% | 12.7% | −0.7% | −5.3% | −23.5% |
| Return on tangible assets | 8.2% | 7.5% | 10.9% | 2.7% | 2.4% | 1.4% | 11.0% | −0.7% | −4.5% | −24.0% |
| Free cash flow margin | 34.5% | 31.1% | 30.1% | 30.0% | 30.4% | 30.0% | 26.0% | 21.6% | 25.1% | 2.3% |
| Income quality (OCF / net income) | 3.11 | 2.99 | 1.96 | 8.38 | 9.53 | 15.01 | 1.97 | — | — | — |
| Financial health | ||||||||||
| Total debt | $2.40B | $2.28B | $2.28B | $2.23B | $2.21B | $2.13B | $1.13B | $915.7M | $1.17B | $654.2M |
| Cash & short-term investments | $6.28B | $5.76B | $4.88B | $4.28B | $3.30B | $3.09B | $1.69B | $1.50B | $1.78B | $899.4M |
| Net debt | −$3.88B | −$3.48B | −$2.59B | −$2.05B | −$1.09B | −$957.0M | −$560.2M | −$582.2M | −$605.9M | −$245.2M |
| Debt / equity | 0.19 | 0.24 | 0.30 | 0.44 | 0.60 | 0.75 | 0.53 | 0.82 | 1.51 | 1.69 |
| Debt / assets | 0.09 | 0.11 | 0.13 | 0.17 | 0.21 | 0.24 | 0.19 | 0.24 | 0.33 | 0.32 |
| Net debt / EBITDA | −1.29 | −1.50 | −2.01 | −2.38 | −1.46 | −1.84 | −1.59 | −3.56 | −11.86 | — |
| Current ratio | 0.95 | 1.10 | 1.06 | 1.11 | 1.05 | 1.21 | 1.03 | 1.17 | 1.19 | 1.25 |
| Quick ratio | 0.95 | 1.10 | 1.10 | 1.05 | 0.99 | 1.15 | 0.96 | 1.10 | 1.13 | 1.18 |
| Interest coverage | 79.3 | 59.3 | 30.5 | 13.1 | 9.2 | 6.0 | 1.3 | -0.8 | -1.9 | -12.7 |
| Working capital | −$562.0M | $829.0M | $412.0M | $649.0M | $271.0M | $785.0M | $74.1M | $332.1M | $382.5M | $267.9M |
| Invested capital | $9.08B | $6.12B | $5.04B | $2.98B | $2.60B | $1.88B | $1.57B | $529.0M | $172.9M | $141.8M |
| Tangible asset value | $8.27B | $8.13B | $6.17B | $3.98B | $2.63B | $2.44B | $1.83B | $861.8M | $563.1M | $238.6M |
| Net current asset value | −$3.19B | −$1.59B | −$1.98B | −$1.61B | −$1.88B | −$1.36B | −$1.07B | −$423.2M | −$349.6M | −$304.3M |
| Graham number | $21.57 | $16.84 | $16.77 | $5.96 | $4.30 | $2.72 | $5.55 | — | — | — |
| Graham net-net per share | −$4.60 | −$3.20 | −$3.43 | −$2.47 | −$2.56 | −$1.89 | −$1.51 | −$0.86 | −$0.71 | −$0.57 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | $250.0M | $445.0M | $363.2M | $302.1M | — | — | — |
| Share buybacks (net) | $1.84B | $696.0M | $538.0M | $427.0M | $612.0M | $509.0M | $410.0M | $281.0M | $55.0M | $119.9M |
| Dividend payout ratio | — | — | — | 76.9% | 193.5% | 305.2% | 48.2% | — | — | — |
| Dividends + buybacks / free cash flow | 40.2% | 20.4% | 19.9% | 31.2% | 59.0% | 64.4% | 79.3% | 50.0% | 11.3% | 380.5% |
| Capex / revenue | 6.5% | 7.8% | 7.7% | 7.6% | 6.8% | 9.6% | 9.8% | 9.5% | 8.1% | 9.2% |
| Capex / operating cash flow | 15.9% | 20.0% | 20.4% | 20.2% | 18.2% | 24.2% | 27.3% | 30.7% | 24.5% | 80.3% |
| Capex / depreciation | 1.18 | 1.51 | 1.23 | 1.27 | 0.85 | 1.29 | 1.34 | 1.66 | 1.38 | 1.55 |
| Stock-based compensation / revenue | 14.7% | 15.9% | 17.9% | 19.3% | 19.2% | 19.2% | 19.1% | 20.9% | 20.4% | 22.8% |
| R&D / revenue | 22.3% | 23.2% | 23.7% | 24.4% | 23.7% | 22.7% | 21.6% | 20.3% | 19.5% | 20.5% |
| SG&A / revenue | 41.5% | 43.6% | 46.4% | 49.0% | 49.0% | 51.1% | 54.1% | 57.5% | 59.9% | 61.8% |
| Efficiency | ||||||||||
| Days sales outstanding | 66.9 | 71.0 | 76.5 | 78.5 | 74.3 | 74.5 | 74.4 | 70.8 | 71.7 | 69.0 |
| Days of inventory on hand | — | — | 2.3 | 78.0 | 71.7 | 74.7 | 72.1 | 75.8 | 71.4 | 58.9 |
| Days payables outstanding | 16.6 | 15.5 | 38.0 | 42.1 | 16.6 | 16.1 | 19.2 | 18.4 | 25.6 | 34.5 |
| Cash conversion cycle (days) | 50.3 | 55.6 | 40.8 | 114.3 | 129.4 | 133.1 | 127.3 | 128.2 | 117.5 | 93.4 |
| Receivables turnover | 5.46 | 5.14 | 4.77 | 4.65 | 4.92 | 4.90 | 4.91 | 5.16 | 5.09 | 5.29 |
| Payables turnover | 21.93 | 23.58 | 9.61 | 8.67 | 22.00 | 22.70 | 19.04 | 19.82 | 14.24 | 10.57 |
| Inventory turnover | — | — | — | 4.68 | 5.09 | 4.89 | 5.06 | 4.82 | 5.11 | 6.19 |
| Asset turnover | 0.57 | 0.58 | 0.58 | 0.60 | 0.60 | 0.61 | 0.70 | 0.70 | 0.69 | 0.72 |
| Average receivables | $2.43B | $2.14B | $1.88B | $1.56B | $1.20B | $922.1M | $705.0M | $505.9M | $379.9M | $263.0M |
| Average payables | $136.0M | $97.0M | $200.0M | $181.5M | $61.5M | $43.5M | $41.8M | $31.4M | $35.1M | $37.7M |
| Average inventory | — | — | $12.0M | $336.0M | $266.0M | $202.0M | $157.5M | $129.3M | $97.7M | $64.4M |
| Intangibles / total assets | 18.0% | 7.3% | 8.4% | 7.9% | 9.9% | 4.5% | 5.0% | 6.4% | 6.1% | 7.3% |
Computed from NOW's annual financial statements (latest annual report filed January 29, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
NOW valuation and financial ratios
At the end of fiscal 2025 (December 31, 2025), ServiceNow traded at 91.8 times earnings, against a 10-year median of 155.1. Based on the latest twelve months, the trailing P/E is 88.7 and the forward P/E is 27.8. ServiceNow earned a return on equity of 15.5% and a return on invested capital of 18.5% in fiscal 2025. It ended the year with $2.4 billion of debt and $6.3 billion in cash and short-term investments, a net cash position of $3.9 billion. It returned $1.8 billion to shareholders: $0 in dividends and $1.8 billion in share buybacks, 40% of free cash flow. The share count rose 27.3% from 822.7M to 1.05B over 9 years.
See the NOW income statement, the NOW chart for price history, or the NOW stock overview for the latest quote and news.
NOW key metrics FAQ
What is ServiceNow's P/E ratio?
ServiceNow's trailing P/E ratio is 88.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 27.8. At the end of fiscal 2025 it was 91.8, compared with a 10-year median of 155.1.
What is ServiceNow's EV/EBITDA?
ServiceNow's enterprise value was 52.2 times EBITDA at the end of fiscal 2025 (enterprise value $156.5 billion, EBITDA $3.0 billion); the current EV/EBITDA is 42.7.
What is ServiceNow's return on equity?
ServiceNow's return on equity (ROE) was 15.5% in fiscal 2025: net income of $1.7 billion on average shareholders' equity of $11.3 billion.
What is ServiceNow's ROIC?
ServiceNow's return on invested capital was 18.5% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does ServiceNow have?
ServiceNow had total debt of $2.4 billion at the end of fiscal 2025, a debt-to-equity ratio of 0.19 and more cash than debt.
Does ServiceNow buy back its shares?
Yes. ServiceNow spent $1.8 billion on net share repurchases in fiscal 2025 Shares outstanding changed +0.5% over the year, to 1.05B..
What is ServiceNow's free cash flow yield?
ServiceNow generated $4.6 billion of free cash flow in fiscal 2025, a free cash flow yield of 2.9% on its market value at year-end ($160.4 billion).
What is ServiceNow's current ratio?
ServiceNow's current ratio was 0.95 at the end of fiscal 2025: current assets were 0.95 times current liabilities.