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ServiceNow, Inc.
NOW · NYSESoftware
The economic chain
Follow the chain left → right, from inputs to end demand. Tap any company to trace its links.
Raw inputs
Equipment
Foundry
Chip design
Software
AI demand
Cloud &computewhere the software runsData & talentinputstelemetry, threat intel,…AI modelsthe generative enginesBuild & AIplatformengineering + model layerVendorplatformsthe clouds vendors buildProduct linesmodules & familiesChannel &deliveryresellers, MSSPs, integra…Customerswho pays the subscriptionNVDANVIDIAMSFTMicrosoftEQIXEquinixDCServiceNow data centersENGEngineering talentOAIOpenAIANTAnthropicAIServiceNow AI PlatformNOWServiceNowCRMSalesforceSAPSAPITWIT & Security WorkflowsCSMCustomer & Industry WorkflowsHREmployee & Creator WorkflowsSISystem integratorsPTRResellers & partnersENTEnterprisesGOVGovernments & public sectorTAT&TDTEDeutsche Telekom
Company details
Market cap
$111B
P/E ratio
65×
Div yield
EPS (TTM)
$1.68
Profit margin
13%
Rev. growth
+21%
Revenue
$13.3B
Free cash flow
$4.6B
In plain English
ServiceNow sells the Now Platform — a single cloud system of record for how work gets done, spanning IT, security, customer service, HR and app-building. ~97% of its $13.3B revenue is recurring subscription, sold to ~8,700 large enterprises and governments, and it is racing to wire agentic AI (Now Assist) through every workflow via a $10B+ 2025 acquisition spree (Moveworks, Armis).
In simple terms
What ServiceNow, Inc. really sells
ServiceNow sells the Now Platform — a single cloud system of record for how work gets done, spanning IT, security, customer service, HR and app-building. ~97% of its $13.3B revenue is recurring subscription, sold to ~8,700 large enterprises and governments, and it is racing to wire agentic AI (Now Assist) through every workflow via a $10B+ 2025 acquisition spree (Moveworks, Armis).
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Risk read
Moderate
SteadierMore speculative
Why this rating?