Stock Analysis on Net
Stock Analysis on Net
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ServiceNow Inc. (NYSE:NOW)

Enterprise Value (EV)

Intermediate level

Current Enterprise Value (EV)

ServiceNow Inc., current enterprise value calculation

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Current share price (P) $514.01
No. shares of common stock outstanding 191,800,000
US$ in thousands
Common equity (market value)1 98,587,118 
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (per books) — 
Total equity 98,587,118 
Add: Current portion of convertible senior notes, net (per books) — 
Add: Convertible senior notes, net (per books) 694,981 
Total equity and debt 99,282,099 
Less: Cash and cash equivalents 775,778 
Less: Short-term investments 915,317 
Enterprise value (EV) 97,591,004 

Based on: 10-K (filing date: 2020-02-20).

1 Common equity (market value) = Share price × No. shares of common stock outstanding
= 514.01 × 191,800,000


Historical Enterprise Value (EV)

ServiceNow Inc., EV calculation

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Dec 31, 2019 Dec 31, 2018 Dec 31, 2017 Dec 31, 2016 Dec 31, 2015
Share price1, 2 $352.94 $240.31 $161.01 $86.92 $54.16
No. shares of common stock outstanding1 189,800,000 180,500,000 174,700,000 168,000,000 161,400,000
US$ in thousands
Common equity (market value)3 66,988,012  43,375,955  28,128,447  14,602,560  8,741,424 
Add: Preferred stock, $0.001 par value; no shares issued or outstanding (book value) —  —  —  —  — 
Total equity 66,988,012  43,375,955  28,128,447  14,602,560  8,741,424 
Add: Current portion of convertible senior notes, net (book value) —  —  543,418  —  — 
Add: Convertible senior notes, net (book value) 694,981  661,707  630,018  507,812  474,534 
Total equity and debt 67,682,993  44,037,662  29,301,883  15,110,372  9,215,958 
Less: Cash and cash equivalents 775,778  566,204  726,495  401,238  412,305 
Less: Short-term investments 915,317  931,718  1,052,803  498,124  388,945 
Enterprise value (EV) 65,991,898  42,539,740  27,522,585  14,211,010  8,414,708 

Based on: 10-K (filing date: 2020-02-20), 10-K (filing date: 2019-02-27), 10-K (filing date: 2018-02-28), 10-K (filing date: 2017-02-28), 10-K (filing date: 2016-02-25).

1 Data adjusted for splits and stock dividends.

2 Closing price as at the filing date of ServiceNow Inc.’s Annual Report.

3 2019 Calculation
Common equity (market value) = Share price × No. shares of common stock outstanding
= 352.94 × 189,800,000

Item Description The company
EV Enterprise value is total company value (the market value of common equity, debt, and preferred equity) minus the value of cash and short-term investments. ServiceNow Inc.’s EV increased from 2017 to 2018 and from 2018 to 2019.