Price to FCFE (P/FCFE)
Free Cash Flow to Equity (FCFE)
ServiceNow Inc., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
| Item | Description | The company |
|---|---|---|
| FCFE | Free cash flow to equity is the cash flow available to ServiceNow Inc. equity holders after all operating expenses, interest, and principal payments have been paid and necessary investments in working and fixed capital have been made. | ServiceNow Inc. FCFE increased from 2021 to 2022 and from 2022 to 2023. |
Price to FCFE Ratio, Current
ServiceNow Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | 205,000,000 |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | 2,704) |
| FCFE per share | 13.19 |
| Current share price (P) | 695.72 |
| Valuation Ratio | |
| P/FCFE | 52.75 |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Accenture PLC | 20.79 |
| Adobe Inc. | 33.14 |
| International Business Machines Corp. | 8.93 |
| Intuit Inc. | 43.24 |
| Microsoft Corp. | 52.13 |
| Oracle Corp. | 14.76 |
| Palo Alto Networks Inc. | 101.59 |
| Salesforce Inc. | 34.34 |
| Synopsys Inc. | 52.84 |
| P/FCFE, Sector | |
| Software & Services | 36.46 |
| P/FCFE, Industry | |
| Information Technology | 41.04 |
Based on: 10-K (reporting date: 2023-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
ServiceNow Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | Dec 31, 2019 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | 205,000,000 | 203,000,000 | 200,000,000 | 196,100,000 | 189,800,000 | |
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | 2,704) | 2,079) | 1,738) | 2,327) | 971) | |
| FCFE per share3 | 13.19 | 10.24 | 8.69 | 11.87 | 5.12 | |
| Share price1, 4 | 766.69 | 455.13 | 560.85 | 591.29 | 352.94 | |
| Valuation Ratio | ||||||
| P/FCFE5 | 58.13 | 44.44 | 64.54 | 49.83 | 68.98 | |
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Accenture PLC | 21.03 | 17.91 | 25.76 | 19.01 | 19.50 | |
| Adobe Inc. | 41.83 | 21.32 | 34.26 | 41.36 | 41.90 | |
| International Business Machines Corp. | 9.97 | 11.97 | 48.45 | 9.43 | 4.39 | |
| Intuit Inc. | 38.74 | 13.86 | 86.74 | 17.36 | 34.61 | |
| Microsoft Corp. | 43.32 | 36.73 | 42.54 | 42.74 | 30.77 | |
| Oracle Corp. | 15.47 | — | 8.36 | 6.27 | 22.31 | |
| Palo Alto Networks Inc. | 79.75 | 29.54 | 32.91 | 8.11 | 46.20 | |
| Salesforce Inc. | 31.06 | 16.56 | 49.52 | 50.40 | 29.09 | |
| Synopsys Inc. | 57.04 | 33.41 | 40.55 | 45.07 | 77.64 | |
| P/FCFE, Sector | ||||||
| Software & Services | 32.42 | 30.43 | 33.49 | 25.65 | 21.90 | |
| P/FCFE, Industry | ||||||
| Information Technology | 33.34 | 26.56 | 27.30 | 23.29 | 18.92 | |
Based on: 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31), 10-K (reporting date: 2019-12-31).
1 Data adjusted for splits and stock dividends.
3 2023 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= 2,704,000,000 ÷ 205,000,000 = 13.19
4 Closing price as at the filing date of ServiceNow Inc. Annual Report.
5 2023 Calculation
P/FCFE = Share price ÷ FCFE per share
= 766.69 ÷ 13.19 = 58.13
6 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| P/FCFE | Price to free cash flow to equity is cash valuation indicator of stockholders’ equity. | ServiceNow Inc. P/FCFE ratio decreased from 2021 to 2022 but then increased from 2022 to 2023 not reaching 2021 level. |