ServiceNow (NOW) FY2019 results: revenue $3.5 billion, up 32.6% on the year
ServiceNow, Inc. (NOW) reported revenue of $3.5 billion for fiscal 2019, the year ended 31 December 2019, up 32.6% on the year before. Net income was $627 million, and diluted earnings per share $0.64. The figures are the company's own, from the 10-K it filed with the SEC on 20 February 2020.
Revenue
$3.5 billion
+32.6% on the year
FY2012FY2019
Operating margin
1.2%
-1.6% a year earlier
FY2012FY2019
Net income
$627 million
FY2012FY2019
Diluted EPS
$0.64
FY2012FY2019
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Revenue
3,460
2,609
1,918
+32.6%
Cost of revenue
797
623
500
+27.9%
Gross profit
2,664
1,986
1,419
+34.1%
Gross margin
77.0%
76.1%
73.9%
Research and development
748
530
378
+41.3%
Operating income
42.0
-42.4
-64.4
Operating margin
1.2%
-1.6%
-3.4%
Interest expense
33.0
52.7
53.4
-37.4%
Pre-tax income
67.0
-39.0
-113
Income tax
-560
-12.3
3.4
Effective tax rate
-835.1%
n/a
n/a
Net income
627
-26.7
-117
Net margin
18.1%
-1.0%
-6.1%
Diluted EPS
$0.64
-$0.03
-$0.14
$ million except per share. Read moreFree 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
FY2019
FY2018
FY2017
On the year
Last 8 years
Operating cash flow
1,236
811
643
+52.4%
Capital expenditure
265
224
151
+18.0%
Free cash flow
971
587
492
+65.5%
Free cash flow margin
28.1%
22.5%
25.7%
Cash from investing
-724
-347
-884
Cash from financing
-302
-607
539
Depreciation and amortisation
252
150
114
+68.5%
Share-based compensation
662
544
394
+21.7%
Buybacks
0.0
0.0
55.0
Diluted shares, weighted
986m
889m
856m
+10.9%
Shares outstanding at period end
947m
901m
871m
+5.2%
Balance sheet
$ million
FY2019
FY2018
FY2017
On the year
Last 8 years
Shareholders' equity
2,128
1,111
779
+91.5%
Debt
695
662
1,173
+5.0%
Operating lease liabilities
383
0.0
n/a
Other liabilities
2,816
2,106
1,598
+33.7%
Total liabilities and equity
6,022
3,879
3,550
+55.3%
Fixed assets
468
347
245
+34.8%
Goodwill
157
149
129
+5.3%
Intangible assets
144
101
86.9
+43.0%
Investments
1,929
1,514
1,444
+27.4%
Cash and equivalents
776
566
726
+37.0%
Receivables
835
575
437
+45.3%
Other assets
1,714
628
482
+173.0%
Total assets
6,022
3,879
3,550
+55.3%
10-K for the year ended 31 December 2019, filed 20 February 2020: the filing.