Common Stock Valuation Ratios (Price Multiples)
Quarterly Data
Valuation ratios measure the quantity of an asset or flaw (e.g., earnings) associated with ownership of a specified claim (e.g., a share of ownership of the enterprise).
Paying user area
Try for free
ServiceNow Inc. pages available for free this week:
- Common-Size Balance Sheet: Assets
- Common-Size Balance Sheet: Liabilities and Stockholders’ Equity
- Enterprise Value (EV)
- Enterprise Value to FCFF (EV/FCFF)
- Net Profit Margin since 2012
- Return on Equity (ROE) since 2012
- Price to Sales (P/S) since 2012
- Analysis of Revenues
- Analysis of Debt
- Aggregate Accruals
The data is hidden behind: . Unhide it.
Get full access to the entire website from $10.42/mo, or
get 1-month access to ServiceNow Inc. for $24.99.
This is a one-time payment. There is no automatic renewal.
We accept:
Historical Valuation Ratios (Summary)
ServiceNow Inc., historical price multiples (quarterly data)
Based on: 10-Q (reporting date: 2025-06-30), 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).
- Price to Earnings (P/E) Ratio
- The P/E ratio, initially unknown until March 31, 2020, showed extremely high values throughout the observed periods, starting at 978.47 and remaining elevated above 400 for the first several quarters. A clear downward trend is observed from March 31, 2023, where the ratio decreases from 284.28 to a low of 71.21 by June 30, 2023. However, it experienced some fluctuations thereafter, rising to 90.8 by September 30, 2023, and then varying modestly in subsequent quarters. Despite this volatility, the ratios from 2023 onward are significantly lower than the initial figures, indicating a normalization or improved earnings relative to price.
- Price to Operating Profit (P/OP) Ratio
- The P/OP ratio experienced a similar high-level trend, starting around 583.07 in early 2021 and declining progressively through the subsequent quarters. The ratio decreased to around 260.26 by March 31, 2023, continuing the downward trajectory to a trough of 113.44 by June 30, 2025. Some fluctuations were noted, with a temporary increase to 174.57 near the end of 2022 and a subsequent dip and recovery in 2024 and 2025. The general trend suggests improving operating profitability relative to price over time.
- Price to Sales (P/S) Ratio
- The P/S ratio started at a higher level of 25.66 and experienced a steady decline across the timeline, reaching a low of 12.13 by December 31, 2022. After this, there was an upward trend with intermediate peaks, such as 18.99 in June 30, 2025, showing improved price levels relative to sales. Despite some volatility, the ratio remained considerably lower than its early figures, indicating that stock price appreciation has not outpaced sales growth to the same extent as in earlier years.
- Price to Book Value (P/BV) Ratio
- The P/BV ratio showed a peak of 40.91 at December 31, 2020, followed by an overall gradual decline to a level near 16.55 by March 31, 2023. After a brief increase to 20.6 in December 31, 2023, the ratio fluctuated moderately around the high teens to low twenties until June 30, 2025, when it settled near 18.95. The trend shows some compression in valuation relative to book value after an initial surge, but with stabilization in recent periods.
- Overall Observations
- All valuation multiples started at notably high levels in early 2020 and early 2021 periods, indicating elevated investor expectations or premium valuations. Over time, these multiples generally declined, suggesting market reassessment or improved financial performance, especially in earnings and operating profits. Despite some periods of volatility and intermittent recoveries, the ratios toward the end of the dataset are substantially lower than their peak values, signifying a partial normalization of valuation metrics. The relative stabilization of these ratios in recent quarters indicates a consolidation phase in market valuation after earlier fluctuations.
Price to Earnings (P/E)
ServiceNow Inc., historical P/E calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Net income (in millions) | |||||||||||||||||||||||||||||
| Earnings per share (EPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/E ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/E Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
EPS
= (Net incomeQ2 2025
+ Net incomeQ1 2025
+ Net incomeQ4 2024
+ Net incomeQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ServiceNow Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/E ratio = Share price ÷ EPS
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price shows a general upward trend from March 31, 2020, through June 30, 2025, with some fluctuations. Starting at $351.54, the price peaks at $956.58 on September 30, 2024, and reaches its highest point at $1,012.75 on December 31, 2024. However, there is a notable decline to $812.7 by March 31, 2025, followed by recovery to $996.18 by June 30, 2025. Significant increases are observed especially after December 31, 2022, suggesting enhanced market confidence or improved company performance during this period.
- Earnings Per Share (EPS) Evolution
- EPS values are initially absent but start being reported from December 31, 2020, with a value of $0.60. Over the subsequent quarters, EPS generally increases, hitting $1.15 on March 31, 2021, and showing a steady rise to $1.96 by September 30, 2023. A substantial jump occurs at December 31, 2023, when EPS reaches $6.98, maintaining higher values thereafter, peaking at $9.40 on September 30, 2024. This sharp increase implies improved profitability or one-time gains impacting earnings during this timeframe. The EPS slightly dips afterward but remains strong through mid-2025.
- Price-to-Earnings (P/E) Ratio Analysis
- P/E ratios appear from December 31, 2020, with an initially very high value of 978.47, indicating either high market expectations or low earnings at that time. The ratio gradually declines over the next quarters, reducing to 284.28 by March 31, 2023, and sharply falling to 80.21 on September 30, 2023. This decreasing trend continues, with minor fluctuations, reaching a low of 71.21 on December 31, 2023, followed by slight rises and falls. The reduction in the P/E ratio particularly after mid-2023 aligns with the significant EPS growth, suggesting that earnings growth has outpaced the share price increase, improving relative valuation.
- Overall Insights
- The financial data reveals a company experiencing strong earnings growth starting late 2022, with EPS surging markedly from that point onward. Despite the share price increasing substantially, especially from late 2022 to late 2024, the P/E ratio declines, indicating that market valuations have adjusted to reflect higher profitability rather than overvaluation. The high initial P/E ratio and subsequent drop highlight a transition from market optimism to valuation grounded in improved financial results. The slight correction in share price in early 2025, with maintained EPS strength, signals consolidation or market recalibration. Overall, the trends point toward enhanced financial performance and more balanced market valuation over this period.
Price to Operating Profit (P/OP)
ServiceNow Inc., historical P/OP calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Income from operations (in millions) | |||||||||||||||||||||||||||||
| Operating profit per share2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/OP ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/OP Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Operating profit per share
= (Income from operationsQ2 2025
+ Income from operationsQ1 2025
+ Income from operationsQ4 2024
+ Income from operationsQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ServiceNow Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/OP ratio = Share price ÷ Operating profit per share
= ÷ =
5 Click competitor name to see calculations.
The analyzed data reveals several notable trends related to the share price, operating profit per share, and the price-to-operating-profit (P/OP) ratio over the observed time frame.
- Share Price
- The share price exhibited a general upward trajectory from March 2020 through June 2025, with some fluctuations along the way. Initially, the value increased from approximately 351.54 US$ in March 2020 to a peak exceeding 950 US$ by the end of 2024 and early 2025. Despite some periods of decline, particularly around late 2021 and mid-2022, the overall trend indicates strong appreciation, reaching as high as 1012.75 US$ in March 2025 before a slight dip and a recovery.
- Operating Profit per Share
- Operating profit per share data becomes available starting from March 2021. From this point, it shows a consistent upward trend across all subsequent quarters. Beginning at 1.01 US$, it rose steadily to 7.7 US$ per share by June 2025. This rise demonstrates continuous improvement in profitability at the per-share level over the period.
- Price-to-Operating-Profit (P/OP) Ratio
- The P/OP ratio shows a declining trend over time, suggesting that the market valuation relative to operating profit per share has become more conservative or that profitability growth has outpaced share price increases in proportional terms. From a high ratio of about 583 in early 2021, it dropped consistently to roughly 129 by mid-2025. This indicates improving operating profit metrics relative to the share price, signifying a potential increase in valuation attractiveness based on operating profits.
In summary, the data indicates that operating profitability on a per-share basis has grown significantly, while the share price has appreciated overall but with some periods of volatility. The decreasing P/OP ratio suggests improving fundamentals relative to market valuation, potentially reflecting enhanced efficiency, profitability, or market re-rating over the periods examined.
Price to Sales (P/S)
ServiceNow Inc., historical P/S calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Revenues (in millions) | |||||||||||||||||||||||||||||
| Sales per share2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/S ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/S Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
Sales per share
= (RevenuesQ2 2025
+ RevenuesQ1 2025
+ RevenuesQ4 2024
+ RevenuesQ3 2024)
÷ No. shares of common stock outstanding
= ( + + + )
÷ =
3 Closing price as at the filing date of ServiceNow Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/S ratio = Share price ÷ Sales per share
= ÷ =
5 Click competitor name to see calculations.
- Share Price Trend
- The share price exhibited a general upward trend from March 2020 to December 2021, starting at 351.54 US$ and reaching a peak of 687.7 US$ in September 2021. This was followed by a decline towards the end of 2022, with the price reaching a low of 415.67 US$ in September 2022. After this dip, the price recovered strongly in 2023 and into 2024, surpassing previous peaks and attaining a new high of 1012.75 US$ in March 2025, though some volatility was observed within this recovery period.
- Sales per Share Development
- Sales per share data begins from March 2021, showing consistent growth across all subsequent quarters. Starting at 23.05 US$ in March 2021, sales per share rose steadily each quarter, reaching 57.97 US$ by March 2025. This demonstrates a strong and continuous improvement in the company's revenue generation on a per-share basis, indicating effective sales growth and possibly expanding market demand or pricing power.
- Price-to-Sales (P/S) Ratio Evolution
- The P/S ratio showed notable fluctuations over the period with higher values around the early quarters in 2021, for example peaking at 25.66 in March 2021. Subsequently, the P/S ratio trended downward, reaching lows below 13 in late 2022, reflecting either a relative decrease in valuation compared to sales or adjustments in share price relative to growing sales. In 2023 and 2024, the P/S ratio rose again, with levels fluctuating between approximately 12 and 19, indicating changes in market sentiment, valuation expectations, or earnings momentum. The recent values suggest a comparatively more moderate valuation relative to the initial period despite higher sales per share and share prices.
- Overall Financial Insights
- The data indicates a company experiencing robust growth in sales per share, which is a positive indicator of operational expansion. The share price movement, while somewhat volatile, reflects increased investor confidence over the long term, especially given the new highs in 2024 and 2025. The variation in the P/S ratio suggests times when market valuation adjusted to changes in underlying sales dynamics and investor expectations. The upward sales trajectory combined with price recovery points to strengthening fundamentals, although valuation multiples have experienced corrections, indicating periodic reassessments of growth prospects or risk.
Price to Book Value (P/BV)
ServiceNow Inc., historical P/BV calculation (quarterly data)
| Jun 30, 2025 | Mar 31, 2025 | Dec 31, 2024 | Sep 30, 2024 | Jun 30, 2024 | Mar 31, 2024 | Dec 31, 2023 | Sep 30, 2023 | Jun 30, 2023 | Mar 31, 2023 | Dec 31, 2022 | Sep 30, 2022 | Jun 30, 2022 | Mar 31, 2022 | Dec 31, 2021 | Sep 30, 2021 | Jun 30, 2021 | Mar 31, 2021 | Dec 31, 2020 | Sep 30, 2020 | Jun 30, 2020 | Mar 31, 2020 | ||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | |||||||||||||||||||||||||||||
| Selected Financial Data (US$) | |||||||||||||||||||||||||||||
| Stockholders’ equity (in millions) | |||||||||||||||||||||||||||||
| Book value per share (BVPS)2 | |||||||||||||||||||||||||||||
| Share price1, 3 | |||||||||||||||||||||||||||||
| Valuation Ratio | |||||||||||||||||||||||||||||
| P/BV ratio4 | |||||||||||||||||||||||||||||
| Benchmarks | |||||||||||||||||||||||||||||
| P/BV Ratio, Competitors5 | |||||||||||||||||||||||||||||
| Accenture PLC | |||||||||||||||||||||||||||||
| Adobe Inc. | |||||||||||||||||||||||||||||
| Cadence Design Systems Inc. | |||||||||||||||||||||||||||||
| CrowdStrike Holdings Inc. | |||||||||||||||||||||||||||||
| Datadog Inc. | |||||||||||||||||||||||||||||
| Fair Isaac Corp. | |||||||||||||||||||||||||||||
| International Business Machines Corp. | |||||||||||||||||||||||||||||
| Intuit Inc. | |||||||||||||||||||||||||||||
| Microsoft Corp. | |||||||||||||||||||||||||||||
| Oracle Corp. | |||||||||||||||||||||||||||||
| Palantir Technologies Inc. | |||||||||||||||||||||||||||||
| Palo Alto Networks Inc. | |||||||||||||||||||||||||||||
| Salesforce Inc. | |||||||||||||||||||||||||||||
| Synopsys Inc. | |||||||||||||||||||||||||||||
| Workday Inc. | |||||||||||||||||||||||||||||
Based on: 10-Q (reporting date: 2025-06-30), 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).
1 Data adjusted for splits and stock dividends.
2 Q2 2025 Calculation
BVPS = Stockholders’ equity ÷ No. shares of common stock outstanding
= ÷ =
3 Closing price as at the filing date of ServiceNow Inc. Quarterly or Annual Report.
4 Q2 2025 Calculation
P/BV ratio = Share price ÷ BVPS
= ÷ =
5 Click competitor name to see calculations.
The share price of the company exhibited a generally upward trend over the entire period, despite some fluctuations. Starting from a value of approximately $351.54 at the end of March 2020, the price increased steadily until peaking near $687.70 in September 2021. Following this peak, there was a notable decline through mid-2022, with the share price reaching a low point of about $415.67 in September 2022. After this downturn, the share price recovered significantly, culminating in a peak of approximately $1,012.75 in March 2025, with intermittent fluctuations observed throughout late 2023 and early 2024.
Book value per share (BVPS) demonstrated a consistent and steady increase throughout the period, rising from $11.88 at the end of March 2020 to $52.56 by June 2025. This steady growth indicates ongoing accumulation of net assets or equity per share over time, reflecting an enhancement in the company's intrinsic value.
The price-to-book value (P/BV) ratio showed significant volatility during the period. Initially, the ratio increased from 29.58 in March 2020, reaching a peak of 40.91 by December 2020, which suggests that the market price was growing at a rate substantially faster than the book value per share. Subsequently, the P/BV ratio declined markedly from early 2021 through late 2022, hitting a low of 15.73 in September 2023. This trend indicates a relative market price adjustment, potentially reflecting more conservative valuation or market corrections. In the most recent periods up to June 2025, the P/BV ratio rose and fluctuated between approximately 16.59 and 21.71, displaying some recovery and stabilization at a lower level compared to earlier peaks.
Overall, the analysis reflects that while the company's intrinsic value as measured by book value per share has strengthened consistently, market valuation as represented by the share price and P/BV ratio has experienced cyclical fluctuations, with periods of both premium and discount relative to book value. This pattern suggests variable investor sentiment and market dynamics influencing valuation independently from the linear increase in book value per share.