ServiceNow, Inc. (NOW) Stock

ServiceNow, Inc. (NOW) is a Technology stock trading at $103.07 (as of 2026-07-17), with a market capitalization of $106.30B and a trailing P/E of 60.5. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

ServiceNow, Inc. delivers enterprise cloud software through its Now platform to define, structure, manage, and automate services, including workflow automation, AI/ML, robotic process automation, analytics, service catalogs/portals, configuration management, and collaboration tools. The company provides IT service management and related business and operational applications for enterprises, including offerings for employees, customers, and partners.

Understand ServiceNow, Inc.: how it makes money

ServiceNow provides enterprise cloud software that structures and automates enterprise services and workflows, and it makes money primarily from subscription revenues for the Now platform, with a smaller contribution from professional services and other revenues.

ServiceNow’s profit model is driven by subscription revenues, which are the clear majority of total revenue (subscription revenue 3.67B out of 3.8B), feeding into a high gross margin (75.1%) and resulting in an operating margin of 13.3%.

Revenue by segment (latest quarter)
Subs$3.7B
ProServOther$0.1B

Business quality (Solid): The provided segment view is limited to broad categories (subscription, and professional services and other). Operational KPI coverage available here centers on subscription revenues, including non-GAAP and Q4 figures.

Bull case

  • Subscriptions are the core revenue engine: Subscription revenue (3.67B) is the dominant component of total revenue (3.8B), indicating the company’s commercial activity is primarily tied to its subscription model.
  • High gross margin supports operating profitability: ServiceNow reports gross margin of 75.1%, which aligns with a reported operating margin of 13.3% for the period shown.

Bear case

  • Foreign currency can materially impact reported subscription revenue: The company separately discloses “Effects of Foreign Currency Rate Fluctuations (Subscription Revenues)” (35.0B in the provided facts), signaling that FX can be a moving part in how subscription revenues are presented.
  • Limited diversification outside subscriptions in the provided breakdown: In the provided segment categories, professional services and other revenues are small versus subscription revenue, so results appear more dependent on the subscription line.
Valuation — source: SEC EDGAR (first-party)
Price$103.07
Market Cap$106.30B
P/E Ratio60.5
EV / EBITDA38.2
Price / Book9.06
Price / Sales7.61
FCF Yield4.4%
DCF Value (model)$134.12
DCF Upside vs Price30.1%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$13.28B
Net Margin13.2%
Revenue Growth (YoY)22.1%
EPS Growth (YoY)-79.7%
FCF Growth (YoY)3.9%
Financial Health — source: SEC EDGAR
Altman Z-Score5.97 (safe)
Valuation vs Sector & Industry
Stock P/E60.5
Sector P/E (Technology)34.7
Industry P/E (Business Services)30.7
vs Sector74.5%
vs Industry96.9%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Insider Sells (12mo)8
Top Institutional HolderVANGUARD GROUP INC ($15.62B)
Institutional Holders Tracked10
Congressional Trades (recent)10
Company
SectorTechnology
IndustryBusiness Services
CEOWilliam R. McDermott
Employees26,293
CountryUS
IPO Date2012-06-29

Related Companies (Business model: SaaS / Subscription Software (Enterprise); 8 closest by market cap; US-domiciled)

  • Salesforce, Inc. (CRM)
  • Cloudflare, Inc. (NET)
  • Adobe Inc. (ADBE)
  • Datadog, Inc. (DDOG)
  • Snowflake Inc. (SNOW)
  • Cadence Design Systems, Inc. (CDNS)
  • Intuit Inc. (INTU)
  • Synopsys, Inc. (SNPS)
NOW earnings history · NOW institutional & insider holders · NOW KPIs & operating metrics · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-07-17.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.