Gartner (IT) Q4 FY2025 earnings: revenue $1.8 billion, up 2.2% on the year

Gartner Inc. (IT) reported revenue of $1.8 billion for Q4 FY2025, the quarter ended 31 December 2025, up 2.2% on the same quarter a year earlier. Net income was $242 million, down 39.2% on the year, and diluted earnings per share $3.36. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2026.

Revenue

$1.8 billion

+2.2% on the year · +15.0% on the quarter

Q1 FY2024Q4 FY2025

Operating margin

19.1%

18.5% a year earlier

Q1 FY2024Q4 FY2025

Net income

$242 million

-39.2% on the year · +584.9% on the quarter

Q1 FY2024Q4 FY2025

Diluted EPS

$3.36

-34.2% on the year · +614.9% on the quarter

Q1 FY2024Q4 FY2025

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Fourth-quarter revenue rose 2 percent: Revenues were $1,753 million, up 2% as reported and unchanged on a foreign-currency-neutral basis.
Net income fell; adjusted EBITDA rose: Net income was $242 million, down 39%. Adjusted EBITDA was $436 million, up 5% as reported and up 1% FX neutral.
Contract value grew 1 percent: Total contract value was $5.2 billion, up 1% year on year on an FX neutral basis.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Revenue	1,753	1,524	1,715	+15.0%	+2.2%
Cost of revenue	573	474	575	+20.7%	-0.4%
Gross profit	1,188	1,057	1,145	+12.4%	+3.8%
Gross margin	67.8%	69.3%	66.8%
Selling, general and administrative	798	763	771	+4.6%	+3.5%
Operating income	334	86.3	318	+287.1%	+5.2%
Operating margin	19.1%	5.7%	18.5%
Interest expense	83.8	16.3	73.9	+414.7%	+13.4%
Pre-tax income	314	69.5	302	+351.7%	+4.0%
Income tax	71.7	34.1	-96.9	+110.1%
Effective tax rate	22.8%	49.1%	-32.1%
Net income	242	35.4	399	+584.9%	-39.2%
Net margin	13.8%	2.3%	23.2%
Diluted EPS	$3.36	$0.47	$5.11	+614.9%	-34.2%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Operating cash flow	295	299	335	-1.4%	-12.2%
Capital expenditure	23.8	29.5	23.9	-19.2%	-0.5%
Free cash flow	271	269	311	+0.5%	-13.1%
Free cash flow margin	15.4%	17.7%	18.2%
Cash from investing	-23.8	-29.5	-23.9
Cash from financing	27.8	-1,048	-94.6
Depreciation and amortisation	47.9	51.0	51.2	-6.1%	-6.6%
Share-based compensation	32.2	30.5	30.2	+5.6%	+6.7%
Buybacks	498	1,056	102	-52.8%	+388.8%
Diluted shares, weighted	72m	75m	78m	-3.9%	-7.6%
Shares outstanding at period end	70m	72m	77m	-2.3%	-8.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q4 FY2025	Q3 FY2025	Q4 FY2024	On the quarter	On the year
Shareholders' equity	320	557	1,359	-42.5%	-76.5%
Debt	2,982	2,463	2,460	+21.1%	+21.2%
Operating lease liabilities	270	294	340	-7.9%	-20.5%
Other liabilities	4,514	3,936	4,376	+14.7%	+3.1%
Total liabilities and equity	8,085	7,249	8,535	+11.5%	-5.3%
Fixed assets	214	249	243	-14.0%	-11.8%
Goodwill	2,741	2,790	2,930	-1.8%	-6.5%
Intangible assets	336	357	410	-5.8%	-17.9%
Cash and equivalents	1,723	1,431	1,933	+20.4%	-10.9%
Receivables	1,685	1,120	1,696	+50.3%	-0.7%
Other assets	1,387	1,302	1,322	+6.5%	+4.9%
Total assets	8,085	7,249	8,535	+11.5%	-5.3%

Questions

What was Gartner's revenue in Q4 FY2025?

Gartner (IT) reported revenue of $1.8 billion for Q4 FY2025, the quarter ended 31 December 2025, up 2.2% on the same quarter a year earlier.

How much did Gartner earn in Q4 FY2025?

Net income for Q4 FY2025 was $242 million, down 39.2% on the year, and diluted earnings per share $3.36.

When did Gartner report Q4 FY2025 results?

Gartner filed its 10-K for the year that ended with the quarter on 12 February 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	1,306	1,263	1,377	1,332	1,505	1,409	1,503	1,409	1,586	1,473	1,595	1,484	1,715	1,534	1,686	1,524	1,753	1,511	1,676	1,505
Cost of revenue	400	377	425	417	475	435	487	451	530	459	513	475	575	475	532	474	573	429	487	433
Gross profit	907	886	952	915	1,029	974	1,016	958	1,056	1,022	1,095	1,015	1,145	1,065	1,158	1,057	1,188	1,086	1,198	1,076
Gross margin	69%	70%	69%	69%	68%	69%	68%	68%	67%	69%	69%	68%	67%	69%	69%	69%	68%	72%	72%	71%
SG&A	667	618	605	613	645	657	680	661	704	690	712	712	771	730	777	763	798	726	765	747
Operating income	185	217	297	253	332	408	283	244	301	274	319	246	318	278	327	86.3	334	316	379	281
Operating margin	14%	17%	22%	19%	22%	29%	19%	17%	19%	19%	20%	17%	19%	18%	19%	6%	19%	21%	23%	19%
Interest expense	33.4	31.4	29.7	30.3	34.8	27.4	24.6	21.8	59.0	19.2	20.0	18.0	73.9	13.4	11.8	16.3	83.8	21.0	22.3	23.6
Pre-tax income	177	215	276	232	304	381	264	224	277	260	299	527	302	267	318	69.5	314	292	355	256
Tax rate	-18%	20%	26%	25%	16%	22%	25%	20%	25%	19%	23%	21%	-32%	21%	24%	49%	23%	24%	22%	16%
Net income	209	173	205	174	257	296	198	180	209	211	230	415	399	211	241	35.4	242	222	275	214
Net margin	16%	14%	15%	13%	17%	21%	13%	13%	13%	14%	14%	28%	23%	14%	14%	2%	14%	15%	16%	14%
Diluted EPS	$2.48	$2.08	$2.53	$2.17	$3.21	$3.68	$2.48	$2.26	$2.64	$2.67	$2.93	$5.32	$5.11	$2.71	$3.11	$0.47	$3.36	$3.18	$4.14	$3.35
Operating cash flow	235	168	416	315	203	165	436	331	224	189	370	591	335	314	384	299	295	391	398	294
Capital expenditure	21.2	17.3	21.1	32.1	37.6	21.1	25.6	28.5	28.0	22.7	29.4	25.8	23.9	25.6	36.2	29.5	23.8	20.4	19.9	19.3
Free cash flow	214	150	395	283	166	144	410	302	196	166	341	565	311	288	347	269	271	371	378	275
Buybacks	217	451	479	96.5	17.3	107	132	209	158	225	340	68.7	102	163	274	1,056	498	535	547	138
Shares outstanding	82m	81m	79m	79m	79m	79m	79m	78m	78m	78m	77m	77m	77m	77m	76m	72m	70m	67m	63m	63m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-K for the period ended 31 December 2025, filed 12 February 2026: the filing.