Cash Flow Statement
Quarterly Data
The cash flow statement provides information about a company cash receipts and cash payments during an accounting period, showing how these cash flows link the ending cash balance to the beginning balance shown on the company balance sheet.
The cash flow statement consists of three parts: cash flows provided by (used in) operating activities, cash flows provided by (used in) investing activities, and cash flows provided by (used in) financing activities.
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- Analysis of Liquidity Ratios
- Analysis of Long-term (Investment) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Enterprise Value to FCFF (EV/FCFF)
- Price to FCFE (P/FCFE)
- Present Value of Free Cash Flow to Equity (FCFE)
- Total Asset Turnover since 2012
- Price to Earnings (P/E) since 2012
- Price to Operating Profit (P/OP) since 2012
- Analysis of Debt
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ServiceNow Inc., consolidated cash flow statement (quarterly data)
US$ in millions
Based on: 10-Q (reporting date: 2025-03-31), 10-K (reporting date: 2024-12-31), 10-Q (reporting date: 2024-09-30), 10-Q (reporting date: 2024-06-30), 10-Q (reporting date: 2024-03-31), 10-K (reporting date: 2023-12-31), 10-Q (reporting date: 2023-09-30), 10-Q (reporting date: 2023-06-30), 10-Q (reporting date: 2023-03-31), 10-K (reporting date: 2022-12-31), 10-Q (reporting date: 2022-09-30), 10-Q (reporting date: 2022-06-30), 10-Q (reporting date: 2022-03-31), 10-K (reporting date: 2021-12-31), 10-Q (reporting date: 2021-09-30), 10-Q (reporting date: 2021-06-30), 10-Q (reporting date: 2021-03-31), 10-K (reporting date: 2020-12-31), 10-Q (reporting date: 2020-09-30), 10-Q (reporting date: 2020-06-30), 10-Q (reporting date: 2020-03-31).
- Net Income
- The net income displays significant volatility across the periods, starting at $48 million in March 2020, dipping through 2020 with some lows in December 2021 ($26 million) and June 2022 ($20 million), then rising sharply to a peak of $1044 million in June 2023. Thereafter, it fluctuates but remains elevated relative to earlier periods, ending at $460 million in March 2025.
- Depreciation and Amortization
- Depreciation and amortization steadily increase throughout the periods from $76 million in March 2020 to $160 million by December 2024, showing a consistent upward trend, suggesting growing capital expenditures or acquisitions.
- Amortization of Deferred Commissions
- This item shows a rising trend from $49 million at the start to $145 million by March 2025, indicating increased upfront sales costs being recognized as expenses over time, consistent with business growth.
- Stock-Based Compensation
- Stock-based compensation expenses increase persistently, from $188 million in early 2020 to $470 million by the first quarter of 2025. This steady rise suggests an increasing use of equity incentives, which could affect profitability and cash flow.
- Deferred Income Taxes
- Deferred income taxes fluctuate markedly, with some negative spikes such as -$911 million in March 2023, showing episodic significant tax effects which impact net income and cash flow calculations. Values vary between positive and negative, reflecting tax timing differences.
- Accounts Receivable
- Accounts receivable values are highly erratic, showing large positive and negative swings between quarters, with values ranging from -$981 million to $715 million. This reflects variations in revenue recognition or collection patterns, potentially impacting working capital management.
- Deferred Commissions
- Deferred commissions are generally negative, fluctuating between -$264 million and -$71 million, indicating the weighted recognition of commission expenses over periods consistent with revenue trends.
- Prepaid Expenses and Other Assets
- These assets show variable negative balances with no clear trend, ranging from -$146 million to positive $34 million, possibly indicating fluctuating prepayments or other asset adjustments.
- Accounts Payable
- Accounts payable values oscillate without a strong trend, with notable negative values observed in several quarters and a peak at $234 million in March 2025, which may indicate changes in payment timing or vendor credit.
- Deferred Revenue
- Deferred revenue shows pronounced fluctuations, peaking significantly at $1534 million in March 2025 and also notable high values in December quarters of 2021 and 2022. This pattern reflects seasonality in revenue recognition and customer billing cycles.
- Accrued Expenses and Other Liabilities
- This item shows alternating positive and negative values, ranging from -$287 million to $375 million, indicating variability in accrued liabilities and other short-term obligations, which affect operating cash flows and working capital.
- Changes in Operating Assets and Liabilities
- These changes are volatile, ranging between -$624 million to $587 million, showing substantial fluctuations impacting operating cash flows, suggestive of dynamic working capital adjustments aligned with business activities.
- Adjustments to Reconcile Net Income to Net Cash Provided by Operating Activities
- Adjustments vary widely, peaking at $1310 million in December 2023, aligning with the notable net income increase, and demonstrating the non-cash components and other reconciliations impacting cash flow reporting.
- Net Cash Provided by Operating Activities
- Operating cash flow generally trends upwards, reaching a high of $1677 million in March 2025, despite intermittent declines, reflecting overall business growth and improving cash conversion despite income volatility.
- Purchases of Property and Equipment
- Capital expenditures fluctuate but generally increase from around $83 million in March 2020 to peaks above $260 million in multiple later quarters, indicating sustained investment in physical assets.
- Business Combinations
- Cash outflows for business combinations show sporadic large negative amounts, such as -$513 million in June 2021 and -$279 million in December 2023, reflecting continued acquisitions contributing to growth.
- Purchases of Other Intangibles
- These purchases are relatively small but increase in frequency in later periods, indicating investments in intangible assets possibly related to technology or intellectual property.
- Purchases and Sales of Investments
- Purchases of investments remain substantial and volatile, generally exceeding sales and maturities, reflecting aggressive investment activities. Sales and maturities show somewhat steadier positive inflows, but net investing cash flows remain negative.
- Net Cash Used in Investing Activities
- Investing cash flows are consistently negative, often in several hundred million dollars per quarter, illustrating significant ongoing investment and acquisition activity which absorbs considerable cash.
- Net Cash Provided by (Used in) Financing Activities
- Financing activities alternate between negative and some positive spikes, such as $963 million in September 2020, associated with debt issuance. Recent periods show consistent net cash outflows due to stock repurchases and other financing activities, indicative of capital return strategies.
- Net Change in Cash, Cash Equivalents and Restricted Cash
- Cash levels exhibit volatility influenced by the combination of operating, investing, and financing activities, with large positive changes in quarters such as September 2020 and March 2025, and significant negative dips indicating episodes of liquidity use and replenishment.