Fundamentals · 2026-09-09S&P 500ANNUAL BASIS

Gartner

IT stock analysis · Information Technology · IT Consulting & Other Services

FY 2025-12-31ANNUAL FILINGS
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These are research estimates based on annual filings. Valuation uses a cash-flow proxy and explicit assumptions; prices are not live. Published valuations use annual periods first filed by the price date, with later restatements retained.
Reference share price · USD
$129.62HISTORICAL SNAPSHOT

As of · fund-implied per-share value

Fund holding value ÷ shares held. Not a live quote; not adjusted for later stock splits.

View SEC fund filing ↗
Estimated issuer market cap
$8.7B

Price × SEC outstanding shares. Shares measured 2026-05-01. Approximate; share and price dates can differ.

View share-count filing ↗
Valuation

DCF value

$266.61

Equity cash-flow scenario · SEC outstanding shares at 2026-05-01 · 105.7% versus input cap

How this is calculated ↗
Valuation

Reverse DCF

-11.4%

Annual basis · read assumptions below

How this is calculated ↗
Valuation

Relative valuation

274.9%

65 sector peers · median 44.6×

How this is calculated ↗
Valuation

Historical multiples

42.3×

7 annual observations · snapshot P/E 11.9× · -71.9% versus history

How this is calculated ↗
Valuation

Free cash flow yield

13.5%

Annual basis · read assumptions below

How this is calculated ↗
Quality

ROIC / quality

46.8%

Normalized tax · financing-capital proxy · parent-equity fallback (scope limitation) · short-term borrowing coverage incomplete

How this is calculated ↗
Valuation

Value composite

70/100

Annual basis · read assumptions below

How this is calculated ↗
Momentum

12–1 price momentum

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

Split and corporate-action verification is incomplete for these fund observations. Verified adjusted endpoints are required for 12–1 momentum.

How this is calculated ↗
Investment

Asset growth

-5.3%

Annual basis · read assumptions below

How this is calculated ↗
Investment

Net payout yield

Requires reported dividends, repurchases and issuance; missing values are not zero.

Requires reported dividends, repurchases and issuance; missing values are not zero.

How this is calculated ↗
Quality

Accrual quality

-6.8%

Parent-earnings fallback versus consolidated cash flow · scope limitation

How this is calculated ↗
Momentum

Fundamental momentum

-0.9%

Annual basis · read assumptions below

How this is calculated ↗

Follow the cash

ANNUAL · USD

Operating cash flow and reinvestment over time

USD · bar maximum 1.5B2020-12-31: cfo $903,278,000.002020-12-31: capex $83,888,000.0020202021-12-31: cfo $1,312,470,000.002021-12-31: capex $59,834,000.0020212022-12-31: cfo $1,101,422,000.002022-12-31: capex $108,050,000.0020222023-12-31: cfo $1,155,737,000.002023-12-31: capex $103,124,000.0020232024-12-31: cfo $1,484,922,000.002024-12-31: capex $101,737,000.0020242025-12-31: cfo $1,290,365,000.002025-12-31: capex $115,142,000.002025
Operating cash flowCapital expenditure

Annual USD. Negative bars use a compressed lower scale. Hover or inspect the financial history table for exact values.

Make the assumptions yours

Personal inputs stay in this browser. Blank fields retain published inputs. Five-year forecast; zero net borrowing. Required return must exceed terminal growth.

How sensitive is the valuation?

DCF per-share sensitivity · includes reviewed preferred and minority-owner claims · rows: required return · columns: growth
Return / Growth3.0%5.0%7.0%
8.0%$334.40$364.87$397.62
10.0%$245.05$266.61$289.76
12.0%$193.32$209.77$227.41

Annual financial history

Open SEC filings ↗
Fiscal year-endRevenueNet incomeOperating cash flowCapital expenditureAssets
2025-12-316.5B729.2M1.3B115.1M8.1B
2024-12-316.3B1.3B1.5B101.7M8.5B
2023-12-315.9B882.5M1.2B103.1M7.8B
2022-12-315.5B807.8M1.1B108.1M7.3B
2021-12-314.7B793.6M1.3B59.8M7.4B
2020-12-314.1B266.7M903.3M83.9M7.3B
2019-12-314.2B233.3M565.4M149M7.2B
2018-12-314B122.5M471.2M126.9M6.2B

USD, abbreviated. Restated annual history; not a point-in-time backtest. Missing values appear as dashes.

Trace the inputs

MODEL ANNUAL PERIOD
InputValueSEC tag / sourceFiled
revenue6.5BRevenueFromContractWithCustomerExcludingAssessedTax2026-02-12
netIncome729.2MNetIncomeLoss
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent/common earnings proxy729.2MNetIncomeLoss2026-02-12
cfo1.3BNetCashProvidedByUsedInOperatingActivities2026-02-12
capex115.1MPaymentsForCapitalImprovements2026-02-12
operatingIncome1BOperatingIncomeLoss2026-02-12
assets8.1BAssets2026-02-12
equity319.9MStockholdersEquity
Parent-attributable fallback: a verified consolidated total is unavailable in the supported tags. Noncontrolling interests have not been assumed to be zero; this may differ in scope from consolidated cash flow or operating income.
2026-02-12
Parent book equity proxy319.9MStockholdersEquity2026-02-12
debt3BLongTermDebtCurrent + LongTermDebtNoncurrent2026-02-12
shortDebtNot reported under a supported tag
cash1.7BCashAndCashEquivalentsAtCarryingValue2026-02-12
shares75.6MWeightedAverageNumberOfDilutedSharesOutstanding2026-02-12
dividendsNot reported under a supported tag
buybacks2BPaymentsForRepurchaseOfCommonStock2026-02-12
issuance32.5MReviewed manual correction
Bounded FY2025-12-31 consolidated financing-statement extraction. Proceeds from employee stock purchase plan: 32450000 USD [us-gaap:ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlansIncludingStockOptions]. All 7 financing lines reconcile exactly to reported financing cash flow -1439718000 USD. Cash inflows from common shares, employee plans and option exercises are summed once as displayed on the statement; noncash compensation, withholding payments, preferred and noncontrolling interests are excluded. This review applies only to this issuer and fiscal period. Source limitation: issuance follows the separately reported common cash-inflow lines; it is not an independent verification of every gross equity transaction.
2026-02-12