ServiceNow (NOW) FY2020 results: revenue $4.5 billion, up 30.6% on the year
ServiceNow, Inc. (NOW) reported revenue of $4.5 billion for fiscal 2020, the year ended 31 December 2020, up 30.6% on the year before. Net income was $119 million, down 81.0%, and diluted earnings per share $0.12. The figures are the company's own, from the 10-K it filed with the SEC on 12 February 2021.
Revenue
$4.5 billion
+30.6% on the year
FY2013FY2020
Operating margin
4.4%
1.2% a year earlier
FY2013FY2020
Net income
$119 million
-81.0% on the year
FY2013FY2020
Diluted EPS
$0.12
-81.4% on the year
FY2013FY2020
this yearthe year beforeHover a bar for its figure.
The year in brief
Income statement (profit and loss)
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Revenue
4,519
3,460
2,609
+30.6%
Cost of revenue
987
797
623
+23.9%
Gross profit
3,532
2,664
1,986
+32.6%
Gross margin
78.2%
77.0%
76.1%
Research and development
1,024
748
530
+36.9%
Operating income
199
42.0
-42.4
+373.5%
Operating margin
4.4%
1.2%
-1.6%
Interest expense
33.0
33.0
52.7
0.0%
Pre-tax income
150
67.0
-39.0
+123.9%
Income tax
31.0
-560
-12.3
Effective tax rate
20.7%
-835.1%
n/a
Net income
119
627
-26.7
-81.0%
Net margin
2.6%
18.1%
-1.0%
Diluted EPS
$0.12
$0.64
-$0.03
-81.4%
$ 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
FY2020
FY2019
FY2018
On the year
Last 8 years
Operating cash flow
1,787
1,236
811
+44.6%
Capital expenditure
419
265
224
+58.3%
Free cash flow
1,367
971
587
+40.8%
Free cash flow margin
30.3%
28.1%
22.5%
Cash from investing
-1,507
-724
-347
Cash from financing
597
-302
-607
Depreciation and amortisation
336
252
150
+33.4%
Share-based compensation
870
662
544
+31.4%
Buybacks
n/a
0.0
0.0
Diluted shares, weighted
1,012m
986m
889m
+2.7%
Shares outstanding at period end
979m
947m
901m
+3.4%
Balance sheet
$ million
FY2020
FY2019
FY2018
On the year
Last 8 years
Shareholders' equity
2,834
2,128
1,111
+33.2%
Debt
1,640
695
662
+136.0%
Operating lease liabilities
423
383
0.0
+10.3%
Other liabilities
3,818
2,816
2,106
+35.6%
Total liabilities and equity
8,715
6,022
3,879
+44.7%
Fixed assets
660
468
347
+40.9%
Goodwill
241
157
149
+53.6%
Intangible assets
153
144
101
+6.4%
Investments
2,883
1,929
1,514
+49.5%
Cash and equivalents
1,677
776
566
+116.1%
Receivables
1,009
835
575
+20.8%
Other assets
2,092
1,714
628
+22.1%
Total assets
8,715
6,022
3,879
+44.7%
10-K for the year ended 31 December 2020, filed 12 February 2021: the filing.