Analysis of Revenues
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- Balance Sheet: Liabilities and Stockholders’ Equity
- Cash Flow Statement
- Common-Size Income Statement
- Analysis of Profitability Ratios
- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- Common Stock Valuation Ratios
- Enterprise Value to EBITDA (EV/EBITDA)
- Price to Earnings (P/E) since 2012
- Analysis of Debt
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Revenues as Reported
ServiceNow Inc., income statement, revenues
US$ in millions
| 12 months ended: | Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| Digital workflow products | |||||||||||
| ITOM products | |||||||||||
| Subscription | |||||||||||
| Professional services and other | |||||||||||
| Revenues |
Based on: 10-K (reporting date: 2024-12-31), 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).
- Overview of Revenue Growth
- Revenues exhibited consistent growth over the five-year period, increasing from $4,519 million in 2020 to $10,984 million in 2024. This represents a strong upward trend with the annual revenue more than doubling during this timeframe.
- Digital Workflow Products
- The revenue from digital workflow products showed a steady and pronounced rise, growing from $3,749 million in 2020 to $9,422 million in 2024. This segment consistently contributed the largest portion to total revenues and reflected a compound growth pattern, with increases each year ranging between approximately 25% and 23%. This indicates expanding demand and a successful product strategy in this category.
- ITOM Products
- Revenue from ITOM products also increased steadily from $537 million in 2020 to $1,224 million in 2024. Although smaller in absolute terms compared to the digital workflow segment, ITOM products more than doubled over the five years, demonstrating a positive growth trend and potential for further expansion.
- Subscription Revenue
- Subscription revenue, which likely includes recurring revenues, increased consistently from $4,286 million in 2020 to $10,646 million in 2024. This growth aligns closely with the overall revenue increases, representing a significant portion of total revenues and highlighting a stable, recurring income stream essential for ongoing business sustainability.
- Professional Services and Other Revenue
- Revenues from professional services and other sources were comparatively smaller and more variable. Starting at $234 million in 2020, this category increased to $354 million by 2022 but then declined to $291 million in 2023 before rising again to $338 million in 2024. The fluctuations suggest less predictability and potentially varying demand for these services over the years.
- Insights
- The data reveal a healthy and expanding revenue structure predominantly driven by digital workflow products and subscription-based revenues. Steady growth in both ITOM products and subscription categories indicates successful diversification and scaling of product offerings. The variability in professional services suggests this is a less stable contributor to total revenues. Overall, the upward trends across most categories highlight strong business momentum and effective market penetration.