ServiceNow (NOW) FY2023 results: revenue $9.0 billion, up 23.8% on the year
ServiceNow, Inc. (NOW) reported revenue of $9.0 billion for fiscal 2023, the year ended 31 December 2023, up 23.8% on the year before. Net income was $1.7 billion, up 432.6%, and diluted earnings per share $1.68. The figures are the company's own, from the 10-K it filed with the SEC on 25 January 2024.
Revenue
$9.0 billion
+23.8% on the year
FY2016FY2023
Operating margin
8.5%
4.9% a year earlier
FY2016FY2023
Net income
$1.7 billion
+432.6% on the year
FY2016FY2023
Diluted EPS
$1.68
+426.2% on the year
FY2016FY2023
this yearthe year beforeHover a bar for its figure.
$ 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
FY2023
FY2022
FY2021
On the year
Last 8 years
Operating cash flow
3,398
2,723
2,191
+24.8%
Capital expenditure
694
550
392
+26.2%
Free cash flow
2,704
2,173
1,799
+24.4%
Free cash flow margin
30.1%
30.0%
30.5%
Cash from investing
-2,167
-2,583
-1,607
Cash from financing
-803
-344
-506
Depreciation and amortisation
562
433
472
+29.8%
Share-based compensation
1,604
1,401
1,131
+14.5%
Buybacks
538
0.0
0.0
Diluted shares, weighted
1,028m
1,018m
1,016m
+1.0%
Shares outstanding at period end
1,024m
1,014m
998m
+0.9%
Balance sheet
$ million
FY2023
FY2022
FY2021
On the year
Last 8 years
Shareholders' equity
7,628
5,032
3,695
+51.6%
Debt
1,488
1,486
1,576
+0.1%
Operating lease liabilities
707
650
556
+8.8%
Other liabilities
7,564
6,131
4,971
+23.4%
Total liabilities and equity
17,387
13,299
10,798
+30.7%
Fixed assets
1,358
1,053
766
+29.0%
Goodwill
1,231
824
777
+49.4%
Intangible assets
224
232
287
-3.4%
Investments
6,183
4,927
3,206
+25.5%
Cash and equivalents
1,897
1,470
1,728
+29.0%
Receivables
2,036
1,725
1,390
+18.0%
Other assets
4,458
3,068
2,644
+45.3%
Total assets
17,387
13,299
10,798
+30.7%
10-K for the year ended 31 December 2023, filed 25 January 2024: the filing.