Earnings quality
Compare earnings and operating cash flow for earnings quality.
ServiceNow, Inc.
Ticker NOW · 🇺🇸 United States · Consolidated US GAAP · amounts in dollars
Filed 2026-01-29 · Period end 2025-12-31
Takeaway
Worth trackingSales and operating profit both moved in a healthier direction.
operating margin is 13.7%; equity ratio is 49.8%.
Sales and operating profit moved together — keep watching margins and whether the trend persists next period.
ActionWorth tracking
OP margin13.7%
Equity ratio49.8%
Last price—
Trailing P/E—
Look at next
- Compare operating cash flow to reported profit across the last two years.
- Open English IR for management commentary on outlook and capital allocation.
- Overlay peers on Compare before judging relative momentum.
About the company
ServiceNow, Inc. is a US-listed company with consolidated financial statements filed on SEC EDGAR.
Compare trends
Tel 408-501-8550 · As of filing date 2026-01-29
Financial statements
Income statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Revenue | $11.0B | $13.3B |
| Cost of sales* | $2.3B | $3.0B |
| Gross profit | $8.7B | $10.3B |
| Operating profit | $1.4B | $1.8B |
| Income tax | $313.0M | $513.0M |
| Net income | $1.4B | $1.7B |
| Basic EPS | 1.38 | 1.69 |
Balance sheet
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Cash & equivalents | $2.3B | $3.7B |
| Current assets | $9.2B | $10.5B |
| Non-current assets* | $11.2B | $15.6B |
| Total assets | $20.4B | $26.0B |
| Current liabilities | $8.4B | $10.4B |
| Non-current liabilities* | $2.4B | $2.6B |
| Total liabilities | $10.8B | $13.1B |
| Stockholders’ equity | $9.6B | $13.0B |
Cash flow statement
| Account | FY2024 (ended Dec 31, 2024) | FY2025 (ended Dec 31, 2025) |
|---|---|---|
| Operating cash flow | $4.3B | $5.4B |
| Investing cash flow | -$2.5B | -$1.7B |
| Financing cash flow | -$1.3B | -$2.3B |
| Cash at end of period | $2.3B | $3.7B |
Five-year trends
Key metrics
| Metric | Trend | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|
| Revenue | $5.9B | $7.2B | $9.0B | $11.0B | $13.3B | |
| Operating profit | $257.0M | $355.0M | $762.0M | $1.4B | $1.8B | |
| Net income | $230.0M | $325.0M | $1.7B | $1.4B | $1.7B | |
| Total assets | $10.8B | $13.3B | $17.4B | $20.4B | $26.0B | |
| Cash & equivalents | $1.7B | $1.5B | $1.9B | $2.3B | $3.7B | |
| Stockholders’ equity | $3.7B | $5.0B | $7.6B | $9.6B | $13.0B |
How we read these numbers
From the notes
No material one-offs extracted from this filing.
Constructive
Sales and operating profit both moved in a healthier direction.
On the income statement, revenue moved from $11.0B to $13.3B (▲ +20.9%). Operating profit went from $1.4B to $1.8B (▲ +33.7%).
Operating cash flow was $5.4B (prior $4.3B), with cash on the balance sheet at $3.7B versus $2.3B.
Liquidity & leverage
Cash moved from $2.3B to $3.7B; current liabilities $10.4B.
Capital buffer
Stockholders’ equity moved from $9.6B to $13.0B.
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Source: SEC EDGAR 0001373715-26-000007
(ServiceNow, Inc.), period end 2025-12-31.