NOW
ServiceNow, Inc.
NOW
137.00USD
-0.49%
Sep 23, 2026
Price
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Price Action
Constructive pullback in an uptrend
Longer-term context reads early recovery, with a near-term setup of constructive pullback.
EntryConstructive
Structure is constructive on both timeframes without excessive extension — a reasonable entry location.
Key Financials
- Market Cap
- $141.7B
- Avg Volume (60D)
- 19.4M
- Revenue Growth YoY
- +20.9%
- Gross Margin
- +74.8%
- Operating Margin
- +11.4%
- Free Cash Flow Yield
- +3.2%
- Distance from 200DMA
- +17.0%
- Next Earnings
- 2026-10-28
- P/E
- 84.8x
- EV / EBITDA
- 51.8x
- EV / Sales
- 9.7x
60 sessions
FY2025 vs FY2024
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Jun 30, 2026
Fundamentals & Valuation
Two of the three valuation perspectives say expensive; intrinsic is the dissenting view.
ServiceNow, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of what comparable businesses command. It trades at a 3.2% free-cash-flow yield and 51.8x EBITDA, which require sustained delivery to be justified.
What changed
- AI Alliances And Raised Targets Could Be A Game Changer For ServiceNow (NOW)Dated 2026-09-22.2026-09-22 · source
- Adobe Pulls Back, Then Recovers as CEO Handoff Meets Soft Q4 Outlook; Intuit and ServiceNow Hold SteadyDated 2026-09-11.2026-09-11 · source
- NOW rose 10.0% in one sessionNOW closed +10.0% while the broad market was close to flat (+0.7%).2026-08-27
- Intuit Sinks 12% as AI Disruption Fears Spread From TurboTax to QuickBooks, Adobe and ServiceNow Drop 3%Dated 2026-08-26.2026-08-26 · source
Company Research
Thesis
ServiceNow is an enterprise workflow-platform enabler that is embedding AI assistants and autonomous agents into IT, employee, customer, security, risk, and operations workflows. NOW has a real, direct exposure to the emerging enterprise-agentic-AI spend cycle, rather than merely generic AI adjacency.
Opportunity
Moderate opportunity
Enterprise adoption of AI agents that can execute multi-step business work across systems, with workflow controls, identity permissions, data context, auditability, and human oversight.
Key risk
Intense competition from other enterprise software providers.
Narrative & Theme
Enterprise Agentic AI Adoption
Part of Governed AI Workflow Orchestration, with moderate fit.
NOW has a real, direct exposure to the emerging enterprise-agentic-AI spend cycle, rather than merely generic AI adjacency.
Narrative HeatHeating up7.8 / 10
Theme HeatHeating up7.4 / 10
This is the company’s own research reading. The canonical heat measurement for this story has not run.
Business & Markets
Technology · Software - Application
What they do
ServiceNow provides cloud-based digital workflow solutions that help organizations automate and manage IT, customer service, security, and other enterprise operations globally.
How it earns
The company primarily generates revenue through subscription-based licensing of its cloud software products.
Products & services
IT service management
Security operations
Customer service management
Field service management
Asset management
Integrated risk management
Human resources delivery
Legal and contract operations
Strategic portfolio management
Customers & end markets
Large enterprises including Fortune 2000 companies
Organizations across North America, EMEA, Asia Pacific, Brazil, and internationally
Market position
ServiceNow is a market leader in cloud-based enterprise workflow software.
Demand drivers
Low cyclicality
Demand for digital workflow automation is relatively stable and driven by ongoing enterprise IT modernization.