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Gartner

IT NYSE IT Consulting & Other Services Financials FY2016–FY2025

Gartner's revenue rose 3.7% to $6.5 billion in fiscal 2025. Its operating margin was 15.8%, down from 18.4% a year earlier. Free cash flow was $1.2 billion, down 15.0%. It paid out $2.0 billion in dividends and buybacks, 169% of free cash flow. The diluted share count fell 3.5%.

Last close · Oct 23, 2026

$230.28

1.8%
Value it Compare
Revenue Total sales reported in the income statement.
$6.5B
3.7% vs prior year
Operating margin Operating income as a share of revenue.
15.8%
2.7 pts
Net income Profit after all expenses, interest and tax.
$729M
41.8%
Free cash flow Cash from operations minus capital spending.
$1.2B
15.0%
Return on capital After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
44.6%
11.8 pts
Market cap Last close times the latest diluted share count, so it is approximate.
$15.3B
Oct 23 close
P/E Last close divided by diluted earnings per share over the last four quarters.
20.8x
On $11.09 EPS (TTM)

What Gartner does

No business description yet.

Legal name
Gartner, Inc.
Fiscal year ends
December 31, 2025
Latest annual report
—
Accession · CIK
0000749251-26-000112
0000749251

Revenue and margins

Gartner had $6.5B of revenue in fiscal 2025, up 3.7% on the year before.

Revenue
Revenue
Margins, % of revenue
Gross Operating Net FCF
Margins, % of revenue
Gross Operating Net FCF

Net income and earnings per share

From fiscal 2016 to 2025, diluted EPS grew 17.2% a year. Loss periods are shown in red.

Net income
Net income
Diluted EPS
Diluted EPS

Returns on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

Return on capital, equity and assets (annual)
Return on capital Return on equity Return on assets

Cash flow

Free cash flow was $1.2B in fiscal 2025, 18.1% of revenue. Cash from operations minus capital spending.

Free cash flow
Free cash flow
Cash from operations vs capital spending
Cash from operations Capital spending
Cash from operations vs capital spending
Cash from operations Capital spending

Dividends, buybacks and share count

Gartner returned $2.0B to shareholders in fiscal 2025, 169% of free cash flow. The diluted share count fell 3.5%.

Dividends and buybacks
Dividends Buybacks
Dividends and buybacks
Dividends Buybacks
Diluted shares outstanding (annual)

Value Gartner yourself

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets — the answer depends entirely on what you put in.

Discounted cash flow

Value per share

—

Adds net cash of −$1.3B and divides by 75.6M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

—

Reference multiples: today 20.8x · peers 20.8x · sector 33.5x.

Balance sheet

Cash, debt and the ratios that show how comfortably Gartner can carry it.

Cash vs debt (incl. leases)
Cash Debt
Fiscal year endFY21FY22FY23FY24FY25
Cash and short-term investments $757M$698M$1.3B$1.9B$1.7B
Debt incl. finance leases $2.5B$2.5B$2.5B$2.5B$3.0B
Net debt / EBITDA 1.5x1.4x0.8x0.4x1.0x
Debt / equity 6.6x—3.6x1.8x—
Interest coverage 7.7x8.7x9.3x8.8x8.2x
Current ratio 0.8x0.8x0.9x1.1x1.0x
Quick ratio 0.8x0.8x0.9x1.1x1.0x
Total assets $7.4B$7.3B$7.8B$8.5B$8.1B
Total liabilities $7.0B$7.1B$7.2B$7.2B$7.8B
Shareholders' equity $371M$228M$681M$1.4B$320M
Net debt (− = net cash) $1.7B$1.8B$1.1B$527M$1.3B

Insider trades

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.

Bought, 12 months

$9.9M

2 insiders

Sold, 12 months

$1.5M

6 insiders

Of sales under plans

0%

$0.0M

DateInsiderTradeSharesPriceValueFiling
Aug 27, 2026 Robin B KranichEVP & CHRO Sold 3,278 $196.50 $0.6M Form 4
Aug 24, 2026 Akhil JainEVP, Consulting Sold 700 $201.73 $0.1M Form 4
Aug 10, 2026 Yvonne GenoveseEVP, Bus. & Tech. Insights Sold 1,205 $190.06 $0.2M Form 4
Aug 7, 2026 Anne Sutherland FuchsDirector Sold 860 $184.30 $0.2M Form 4
Aug 7, 2026 Claire HerkesEVP, Conferences Sold 1,039 $190.71 $0.2M Form 4
Feb 5, 2026 John J RinelloSVP, Global Business Sales Bought 50 $154.13 $0.0M Form 4
Dec 10, 2025 Stephen G PagliucaDirector Bought 43,300 $229.57 $9.9M Form 4
Dec 3, 2025 Claire HerkesEVP, Conferences Sold 367 $231.56 $0.1M Form 4
Dec 3, 2025 John J RinelloSVP, Global Business Sales Sold 220 $229.57 $0.1M Form 4

Piotroski F-score

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

TestFY23FY24FY25
Net income is positive ✓ ✓ ✓
Cash from operations is positive ✓ ✓ ✓
Return on assets rose ✓ ✓ ✕
Cash from operations exceeds net income ✓ ✓ ✓
Debt fell relative to assets ✓ ✓ ✕
Current ratio rose ✓ ✓ ✕
Share count didn't rise ✓ ✓ ✓
Gross margin rose ✕ ✕ ✓
Revenue rose relative to assets ✓ ✕ ✕
F-score 8 / 97 / 95 / 9
Accruals ratio −3.6%−2.8%−6.8%
Altman Z'' 2.843.573.60

Similar companies

Each company's latest fiscal year. Fiscal years end in different months, so periods don't line up exactly.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Gartner IT $15.3B 3.7% 15.8% 18.1% 44.6% 20.8x 5
DXC Technology DXC $2.7B −1.8% 7.7% 8.2% 9.2% 21.2x 7 Compare →
Kyndryl KD $3.3B 0.2% — 2.3% 7.8% 39.9x 6 Compare →
NCR Voyix VYX $1.2B −4.7% 1.0% −14.0% 1.3% 20.5x 3 Compare →
Cognizant CTSH $33.6B 7.0% 16.1% 12.3% 16.2% 15.3x 6 Compare →

10 years of figures

US$ millions unless stated. Hover a ratio's name for its definition.

Download CSV
Fiscal yearFY16FY17FY18FY19FY20FY21FY22FY23FY24FY25
Income statement
Revenue $2.4B $3.3B $4.0B $4.2B $4.1B $4.7B $5.5B $5.9B $6.3B $6.5B
Gross profit $1.5B $2.0B $2.5B $2.7B $2.8B $3.3B $3.8B $4.0B $4.3B $4.5B
Operating income $305M −$6.3M $260M $370M $490M $916M $1.1B $1.2B $1.2B $1.0B
Interest expense $27.6M $128M $127M $103M $116M $119M $126M $133M $131M $125M
Pretax income $288M −$128M $181M $276M $326M $970M $1.0B $1.1B $1.4B $968M
Income tax $94.8M −$131M $58.7M $42.4M $59.4M $176M $219M $265M $134M $239M
Net income $194M $3.3M $123M $233M $267M $794M $808M $883M $1.3B $729M
Diluted EPS $2.31 $0.04 $1.33 $2.56 $2.96 $9.21 $9.96 $11.08 $16.00 $9.65
Diluted shares 0.08B 0.09B 0.09B 0.09B 0.09B 0.09B 0.08B 0.08B 0.08B 0.08B
Cash flow
Cash from operations $366M $255M $471M $565M $903M $1.3B $1.1B $1.2B $1.5B $1.3B
Capital expenditure $49.9M $111M $127M $149M $83.9M $59.8M $108M $103M $102M $115M
Free cash flow $316M $144M $344M $416M $819M $1.3B $993M $1.1B $1.4B $1.2B
Depreciation and amortization $62.0M $240M $256M $212M $219M $212M $192M $191M $202M $200M
Stock-based compensation $46.7M $78.9M $66.2M $69.0M $62.5M $98.6M $90.6M $130M $155M $156M
Acquisitions $48.2M $2.6B $15.9M $26.0M $0.0M $22.9M $9.5M $3.8M $2.0M $0.0M
Share buybacks $59.0M $41.3M $261M $199M $176M $1.7B $1.0B $606M $735M $2.0B
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $59.0M $41.3M $261M $199M $176M $1.7B $1.0B $606M $735M $2.0B
Balance sheet
Cash and short-term investments $474M $539M $156M $281M $713M $757M $698M $1.3B $1.9B $1.7B
Total debt $694M $3.3B $2.3B $2.2B $2.0B $2.5B $2.5B $2.5B $2.5B $3.0B
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets $1.3B $2.6B $1.8B $2.0B $2.3B $2.6B $2.8B $3.4B $4.2B $4.1B
Current liabilities $1.5B $2.8B $2.6B $2.9B $2.9B $3.4B $3.6B $3.8B $4.0B $4.1B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net $122M $222M $268M $345M $337M $274M $265M $263M $243M $214M
Total assets $2.4B $7.3B $6.2B $7.2B $7.3B $7.4B $7.3B $7.8B $8.5B $8.1B
Total liabilities $2.3B $6.3B $5.4B $6.2B $6.2B $7.0B $7.1B $7.2B $7.2B $7.8B
Shareholders' equity $60.9M $984M $851M $939M $1.1B $371M $228M $681M $1.4B $320M
Margins
Gross margin 61.3% 60.1% 63.1% 63.5% 67.2% 69.5% 69.7% 68.3% 68.3% 68.8%
Operating margin 12.5% −0.2% 6.5% 8.7% 12.0% 19.3% 20.1% 20.9% 18.5% 15.8%
EBITDA margin 15.0% 7.1% 13.0% 13.7% 17.3% 23.8% 23.6% 24.2% 21.7% 18.9%
Net margin 7.9% 0.1% 3.1% 5.5% 6.5% 16.8% 14.8% 14.9% 20.0% 11.2%
FCF margin 12.9% 4.3% 8.7% 9.8% 20.0% 26.5% 18.1% 17.8% 22.1% 18.1%
Returns
Return on capital 68.9% −0.3% 5.2% 10.8% 15.4% 33.8% 42.5% 49.9% 56.4% 44.6%
Return on capital employed 34.8% −0.2% 6.5% 9.4% 11.3% 21.8% 28.4% 31.9% 26.8% 23.9%
Return on equity — 0.6% 13.4% 26.1% 26.3% 108.6% — 194.3% 122.9% 86.9%
Return on assets 8.5% 0.1% 1.8% 3.5% 3.7% 10.8% 11.0% 11.7% 15.3% 8.8%
Growth
Revenue growth 13.0% 35.5% 20.1% 6.8% −3.4% 15.5% 15.7% 7.9% 6.1% 3.7%
Net income growth 10.2% −98.3% 3,634.6% 90.5% 14.3% 197.5% 1.8% 9.2% 42.1% −41.8%
EPS growth 12.1% −98.3% 3,225.0% 92.5% 15.6% 211.2% 8.1% 11.2% 44.4% −39.7%
FCF growth 5.5% −54.5% 139.5% 21.0% 96.8% 52.9% −20.7% 6.0% 31.4% −15.0%
Share count change −1.5% 7.1% 2.6% −1.3% −1.1% −4.3% −5.9% −1.7% −1.7% −3.5%
Financial health
Net debt / EBITDA 0.6x 11.7x 4.1x 3.3x 1.8x 1.5x 1.4x 0.8x 0.4x 1.0x
Debt / equity — 3.3x 2.7x 2.3x 1.8x 6.6x — 3.6x 1.8x —
Interest coverage 11.1x −0.1x 2.1x 3.6x 4.2x 7.7x 8.7x 9.3x 8.8x 8.2x
Current ratio 0.9x 0.9x 0.7x 0.7x 0.8x 0.8x 0.8x 0.9x 1.1x 1.0x
Quick ratio 0.9x 0.9x 0.7x 0.7x 0.8x 0.8x 0.8x 0.9x 1.1x 1.0x
Capital allocation
Capex / revenue 2.0% 3.3% 3.2% 3.5% 2.1% 1.3% 2.0% 1.8% 1.6% 1.8%
Stock comp / revenue 1.9% 2.4% 1.7% 1.6% 1.5% 2.1% 1.7% 2.2% 2.5% 2.4%
Payouts / FCF 18.7% 28.7% 75.8% 47.8% 21.5% 132.2% 105.1% 57.6% 53.2% 169.4%
Quality scores
Piotroski F-score 7.0 4.0 6.0 9.0 7.0 7.0 7.0 8.0 7.0 5.0
Altman Z'' 2.8 0.7 0.5 0.6 1.1 1.6 2.0 2.8 3.6 3.6
Accruals ratio −7.6% −5.2% −5.2% −5.0% −8.8% −7.0% −4.0% −3.6% −2.8% −6.8%

Source: SEC EDGAR XBRL filings (CIK 0000749251). Data updated October 9, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.

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