ServiceNow Financials

$498.2 M

Revenue Q3, 2017

$22.2 B

Mkt cap, 22-Dec-2017
Gross profit (Q3, 2017)370.9 M
Gross profit margin (Q3, 2017), %74%
Net income (Q3, 2017)(24.2 M)
EBIT (Q3, 2017)(7.1 M)
Cash, 30-Sep-20171.1 B
EV22.3 B

Financials

Market Value

Revenue/Financials

Income Statement

Annual

USDFY, 2014FY, 2015FY, 2016

Revenue

682.6 m1 b1.4 b

Revenue growth, %

61%47%38%

Cost of goods sold

248.8 m329.4 m398.7 m

Gross profit

433.8 m676.1 m991.8 m

Gross profit Margin, %

64%67%71%

Sales and marketing expense

341.1 m498.4 m700.5 m

R&D expense

148.3 m217.4 m285.2 m

General and administrative expense

96.2 m126.6 m158.9 m

Operating expense total

585.6 m842.4 m1.4 b

EBIT

(151.8 m)(166.4 m)(422.8 m)

EBIT margin, %

(22%)(17%)(30%)

Interest expense

29.1 m31.1 m33.3 m

Interest income

5.4 m4.5 m6 m

Pre tax profit

(175.5 m)(193 m)(450.1 m)

Income tax expense

3.8 m(5.4 m)(1.8 m)

Net Income

(179.4 m)(198.4 m)(451.8 m)

    Balance Sheet

    Annual

    USDFY, 2014FY, 2015FY, 2016

    Cash

    252.5 m412.3 m401.2 m

    Accounts Receivable

    159.2 m203.3 m322.8 m

    Prepaid Expenses

    35.8 m29.1 m43.6 m

    Current Assets

    907 m1.1 b1.3 b

    PP&E

    104.2 m144.7 m181.6 m

    Goodwill

    55 m55.7 m82.5 m

    Total Assets

    1.4 b1.8 b2 b

    Accounts Payable

    17.8 m37.4 m38.1 m

    Current Liabilities

    507 m731.6 m1.1 b

    Long-term debt

    443.8 m474.5 m507.8 m

    Total Debt

    443.8 m474.5 m507.8 m

    Total Liabilities

    996.4 m1.2 b1.6 b

    Common Stock

    150 k160 k167 k

    Additional Paid-in Capital

    799.2 m1.1 b1.4 b

    Retained Earnings

    (358.6 m)(557 m)(997.4 m)

    Total Equity

    428.7 m566.8 m387 m

    Debt to Equity Ratio

    1 x0.8 x1.3 x

    Debt to Assets Ratio

    0.3 x0.3 x0.2 x

    Financial Leverage

    3.3 x3.2 x5.3 x

    Quarterly

    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017

    Cash

    308 m325.4 m349.1 m453.5 m289.1 m325.1 m439.9 m1.2 b1.1 b

    Accounts Receivable

    142.7 m143.2 m159.8 m190.3 m197.3 m220.1 m278.1 m279.1 m291.9 m

    Prepaid Expenses

    53.9 m44 m45.3 m46.5 m36.6 m37.3 m64 m54.7 m66.9 m

    Current Assets

    983.9 m954.1 m981.6 m1.2 b1.1 b1.1 b1.4 b2.1 b2.1 b

    PP&E

    115.4 m124.9 m132.7 m154.2 m166.6 m176.1 m189.7 m213.5 m231.3 m

    Goodwill

    54.9 m57.4 m55.5 m57.4 m83.1 m84.4 m96.9 m104.4 m108.1 m

    Total Assets

    1.5 b1.6 b1.7 b1.9 b1.7 b1.8 b2.2 b2.9 b3.1 b

    Accounts Payable

    18.2 m21 m30.7 m39.6 m41.1 m30 m33.7 m24.5 m20.8 m

    Current Liabilities

    540.9 m591.6 m634.8 m1 b852.1 m898.3 m1.1 b1.2 b1.3 b

    Long-term debt

    451.3 m459 m466.8 m482.6 m490.9 m499.3 m516.5 m1.1 b1.2 b

    Total Debt

    451.3 m459 m466.8 m482.6 m490.9 m499.3 m516.5 m1.1 b1.2 b

    Total Liabilities

    1 b1.1 b1.1 b1.6 b1.4 b1.5 b1.7 b2.4 b2.5 b

    Common Stock

    153 k155 k157 k162 k164 k165 k170 k171 k173 k

    Additional Paid-in Capital

    887.1 m953.8 m1.1 b1.2 b1.3 b1.3 b1.5 b1.6 b1.7 b

    Retained Earnings

    (416.7 m)(478.6 m)(519.6 m)(890.3 m)(928.5 m)(964.8 m)(1 b)(1.1 b)(1.1 b)

    Total Equity

    454.9 m463.1 m516.9 m302.4 m324.3 m362.5 m427.3 m482.4 m551.4 m

    Debt to Equity Ratio

    1 x1 x0.9 x1.6 x1.5 x1.4 x1.2 x2.4 x2.1 x

    Debt to Assets Ratio

    0.3 x0.3 x0.3 x0.3 x0.3 x0.3 x0.2 x0.4 x0.4 x

    Financial Leverage

    3.3 x3.4 x3.2 x6.2 x5.3 x5 x5.1 x6.1 x5.6 x

    Cash Flow

    Annual

    USDFY, 2014FY, 2015FY, 2016

    Net Income

    (179.4 m)(198.4 m)(451.8 m)

    Depreciation and Amortization

    42.1 m60.4 m83.1 m

    Accounts Receivable

    (56.8 m)(50.9 m)(125.1 m)

    Accounts Payable

    10.2 m14.8 m(3.6 m)

    Cash From Operating Activities

    140.9 m317.8 m159.9 m

    Purchases of PP&E

    (54.4 m)(87.5 m)(105.6 m)

    Cash From Investing Activities

    (316.9 m)(231.7 m)(108.4 m)

    Cash From Financing Activities

    70.8 m80.3 m(55.8 m)

    Net Change in Cash

    (113.8 m)159.9 m(11.1 m)

    Income Taxes Paid

    12.6 m3.6 m4.3 m

    Quarterly

    USDQ1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017

    Net Income

    (58.1 m)(120 m)(161 m)(333.3 m)(383 m)(419.2 m)(40.7 m)

    Depreciation and Amortization

    13.8 m28.9 m44 m17.5 m37.5 m59.7 m25.2 m

    Accounts Receivable

    10.4 m11.3 m(5.3 m)15.8 m7 m(15.8 m)47 m

    Accounts Payable

    6 k1.6 m8.3 m3.4 m(272 k)(8.6 m)675 k

    Cash From Operating Activities

    67.4 m147.6 m211.2 m78.7 m(69.5 m)27.2 m187.4 m

    Purchases of PP&E

    (26.7 m)(41.8 m)(62.6 m)(29.1 m)(52.9 m)(84.1 m)(33.2 m)

    Cash From Investing Activities

    (34.3 m)(99.3 m)(171 m)(31.4 m)(321.6 m)(83.2 m)(128.5 m)

    Cash From Financing Activities

    29.7 m29.2 m60.6 m(8.7 m)(21.8 m)(30.8 m)(19.6 m)

    Net Change in Cash

    55.5 m72.9 m96.6 m41.1 m(123.2 m)(87.2 m)38.7 m

    Ratios

    USDY, 2017

    EV/EBIT

    -3.2 k x

    EV/CFO

    118.8 x

    Revenue/Employee

    84.5 k

    Debt/Equity

    2.1 x

    Debt/Assets

    0.4 x

    Financial Leverage

    5.6 x

    Operating Metrics

    ServiceNow's Enterprise Customers was reported to be 3.6 k in FY, 2016, which is a 20% increase from the previous period. ServiceNow's Backlog was reported to be $1.9 b in FY, 2016, which is a 46% increase from the previous period
    Q4, 2014FY, 2014Q1, 2015Q2, 2015Q3, 2015Q4, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016Q4, 2016FY, 2016Q1, 2017Q2, 2017Q3, 2017Dec, 2017

    Customers (G2K)

    535533558577607636633657682706737735763790815

    Backlog

    $1 b$1.3 b$1.9 b

    Billings

    $850.96 m$267.83 m$281.41 m$286.41 m$1.2 b$376.68 m$374.91 m$404.28 m$1.69 b$529.23 m$374.91 m$504.92 m

    Enterprise Customers

    2.73 k3 k3.6 k

    Monthly Transactions

    8 b

    Licensed Users

    17 m