NOW
ServiceNow, Inc.

ServiceNow, Inc.NOW

Technology · Software - Application
101.97USD
-0.38%
Nov 08, 2026
NOW overview ready
Enterprise Workflow Platform Enabling Security Operations Automation
ServiceNow is an enterprise workflow-platform enabler for security operations: it links security, IT, risk, asset, identity, and remediation workflows, increasingly adding autonomous AI assistance rather than selling a single-point security sensor.
Theme not measured
Workflow Automation & Low-Code has no leadership state this session.
Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
Attractive valuation
Current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.
Solid fundamentals
Free cash flow yield is strong.
Primary risk
Competition from other enterprise software and cloud workflow providers.
Market Nov 6Filing Sep 30Price action Nov 7Research Oct 8

Conviction Level

Theme Momentum has no canonical measurement for this company — a research-profile dimension, not an input to this score.

PriceAction3.4BusinessPerformance5.0BusinessQuality8.2Valuation9.8ThemeMomentum—Mixed — Revenue is growing at a steady pace (+21% year over year). Diluted EPS fell 44% year over year to $0.27. — From filed financial statements. Describes the recent trajectory of the business, not the stock. 20 of the 100 Conviction points.

Conviction uses Price Action, Business Performance, Business Quality, Valuation. Theme Momentum is research context, not an input.

Theme momentumPrimary theme · group context, not entry timing
Workflow Automation & Low-Code — Workflow Automation & Low-Code is tracked (3–4 priced members) — too few for a leadership state
Its economic family, Software, reads Weakening (+6.0pp vs SPY) — the family’s reading, not this theme’s.
Price
Loading price history…

Price Action

Price trend is broken
Longer-term context reads damaged structure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery

The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.

Key Financials

Market Cap
$105.8B
Avg Volume (60D)
15.2M
60 sessions
Revenue Growth YoY
+20.9%
FY2025 vs FY2024
Gross Margin
+73.1%
Trailing twelve months
Operating Margin
+9.7%
Trailing twelve months
Free Cash Flow Yield
+4.5%
Distance from 200DMA
-10.9%
Next Earnings
2027-01-27
P/E
73.2x
EV / EBITDA
38.7x
EV / Sales
6.9x
Market metrics as of Nov 6, 2026
Financial results for the period ended Sep 30, 2026
Filed balance-sheet data as of Sep 30, 2026

Business Performance

Mixed

Revenue is growing at a steady pace (+21% year over year). Diluted EPS fell 44% year over year to $0.27.

Latest reported: Q3 FY2026, ended Sep 30
Revenue growthGrowing
+21%
$4.11B in Q3 FY2026 · YoY
YoY growth, last 4 quarters
  1. +21%
  2. +22%
  3. +24%
  4. +21%
Earnings growthDeclining
-44%
Diluted EPS $0.27 vs $0.48 a year earlier · GAAP
Diluted EPS YoY (GAAP), last 4 quarters
  1. +2.7%
  2. +2.3%
  3. -22%
  4. -44%
Operating marginContracting
9.4%
-7.4 pp YoY · gross margin 70.5% (-6.8 pp)

Business Quality

8.2 / 10

How well the business earns on its assets, converts earnings to cash and funds itself — read from its SEC filings.

Fundamentals & Valuation

The available comparisons disagreed; the intrinsic comparison is the more reliable method for this business and the others are published as dissent.
ServiceNow, Inc. has a Cheap valuation stance because current market expectations look undemanding relative to how much growth and cash flow it delivers per turn of revenue multiple.

What changed

  • NOW fell 26.9% in one session
    NOW closed -26.9% while the broad market was close to flat (-0.4%).
    2026-10-29
  • Price structure deteriorated
    NOW: behavior moved from early trend to distribution.
    2026-10-28
  • ServiceNow, Inc. — 8-K/A (items 2.02, 9.01)
    Reported on 8-K/A, dated 2026-10-28.
    2026-10-28 · source

Company Research

Thesis
ServiceNow is an enterprise workflow-platform enabler for security operations: it links security, IT, risk, asset, identity, and remediation workflows, increasingly adding autonomous AI assistance rather than selling a single-point security sensor.
Opportunity
Moderate opportunity
Enterprise demand for platforms that connect security telemetry, incident handling, vulnerability remediation, risk workflows, and IT execution to reduce response time and operate security programs at greater scale.
Key risk
Competition from other enterprise software and cloud workflow providers.

Economic classification

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Business & Markets

Technology · Software - Application
What they do

ServiceNow provides cloud-based digital workflow solutions that integrate IT, security, risk, asset, and business operations to improve enterprise efficiency and automation globally.

How it earns

The company primarily generates revenue through subscription-based licensing of its cloud software platform and related services.

Products & services
IT service management
Security operations
Asset management
Customer service management
Field service management
Human resources delivery
Legal and contract operations
Strategic portfolio management
Customers & end markets
Large enterprises (Fortune 2000)
IT and security operations teams
Risk and compliance departments
Market position

Leader in enterprise workflow platforms for security and IT operations with expanding AI-enabled capabilities.

Demand drivers
Low cyclicality

Driven by recurring subscription revenue and essential enterprise IT and security needs that are less sensitive to economic cycles.