Enterprise Value (EV)
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ServiceNow Inc. pages available for free this week:
- 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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Current Enterprise Value (EV)
ServiceNow Inc., current enterprise value calculation
| Current share price (P) | |
| No. shares of common stock outstanding | |
| US$ in millions | |
| Common equity (market value)1 | |
| Add: Preferred stock, $0.001 par value; no shares issued or outstanding (per books) | |
| Total equity | |
| Add: Current debt, net (per books) | |
| Add: Long-term debt, net, less current portion (per books) | |
| Total equity and debt | |
| Less: Cash and cash equivalents | |
| Less: Short-term investments | |
| Enterprise value (EV) | |
Based on: 10-K (reporting date: 2024-12-31).
1 Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
Historical Enterprise Value (EV)
ServiceNow Inc., EV calculation
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).
1 Data adjusted for splits and stock dividends.
2 Closing price as at the filing date of ServiceNow Inc. Annual Report.
3 2024 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= ×
- Equity and Market Value Trends
- The common equity (market value) and total equity demonstrate a declining trend from 2020 to 2022, dropping from approximately $115.95 billion to $92.39 billion. This decrease represents a reduction in market valuation and equity base during this period. However, from 2022 onward, a marked recovery is observed, with equity rising substantially to $157.17 billion in 2023 and further increasing to $208.63 billion in 2024. This rebound suggests improving market confidence and strengthening financial position in the later years.
- Total Equity and Debt
- Total equity and debt closely mirrors the equity trend, starting at roughly $115.95 billion in 2020 and declining to $92.39 billion in 2022. It then shows significant growth to $157.17 billion in 2023 and $208.63 billion in 2024. The parallel movement with total equity indicates that debt levels may have remained relatively stable or changed in proportion to equity, as the combined figure tracks very closely with equity values alone.
- Enterprise Value (EV)
- The enterprise value follows a similar pattern to equity, with a decline from $114.5 billion in 2020 to $89.6 billion in 2022. Subsequently, it rises sharply to $153.78 billion in 2023, and further to $204.35 billion in 2024. This pattern reinforces the observation of recovery and growth in the company's overall valuation and market perception after the dip experienced in the earlier period.
- Overall Financial Position
- The period from 2020 to 2022 reflects a contraction phase with decreases across equity, total equity and debt, and enterprise value. From 2023 forward, there is a strong upward trajectory in all major financial metrics, suggesting increased investor confidence, potential expansion, or improved operating performance. The alignment of trends between equity-related measures and enterprise value implies consistency in market and financial valuations.