Gartner (IT) Financials

$140.88 -3.58 (-2.48%)

Closing price 03:59 PM Eastern

Extended Trading

$140.64 -0.25 (-0.18%)

As of 04:56 PM Eastern

Annual Income Statements for Gartner

This table shows Gartner's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	176	194	3.28	122	233	267	794	808	882	1,254	729
Consolidated Net Income / (Loss)	176	194	3.28	122	233	267	794	808	882	1,254	729
Net Income / (Loss) Continuing Operations	176	194	3.28	122	233	267	794	808	882	1,254	729
Total Pre-Tax Income	272	288	-128	181	276	326	970	1,027	1,147	1,387	968
Total Operating Income	288	305	-6.33	260	370	490	916	1,100	1,237	1,156	1,026
Total Gross Profit	1,324	1,499	1,991	2,507	2,695	2,754	3,290	3,782	4,004	4,244	4,444
Total Revenue	2,163	2,445	3,311	3,975	4,245	4,099	4,734	5,476	5,907	6,267	6,497
Operating Revenue	2,163	2,445	3,311	3,975	4,245	4,099	4,734	5,476	5,907	6,267	6,497
Total Cost of Revenue	839	946	1,320	1,469	1,551	1,345	1,444	1,694	1,903	2,023	2,054
Operating Cost of Revenue	839	946	1,320	1,469	1,551	1,345	1,444	1,694	1,903	2,023	2,054
Total Operating Expenses	1,036	1,194	1,998	2,247	2,325	2,264	2,374	2,682	2,767	3,088	3,418
Selling, General & Admin Expense	963	1,089	1,599	1,884	2,103	2,039	2,156	2,481	2,702	2,885	3,068
Depreciation Expense	34	37	64	69	82	94	103	93	99	112	118
Amortization Expense	13	25	176	187	130	125	110	99	92	90	82
Other Operating Expenses / (Income)	-	-	-	-	-	-	0.00	0.00	-135	0.00	0.00
Impairment Charge	-	-	-	-	-	-	-	-	0.00	0.00	150
Restructuring Charge	26	43	158	107	9.46	6.28	6.06	9.08	9.59	0.97	0.00
Total Other Income / (Expense), net	-16	-17	-121	-79	-94	-164	54	-73	-90	231	-58
Interest Expense	23	28	128	127	103	160	119	126	133	131	125
Interest & Investment Income	1.77	2.45	3.01	2.57	3.03	2.09	1.89	4.88	39	62	65
Other Income / (Expense), net	5.00	8.41	3.45	46	5.46	-5.65	171	48	4.48	301	2.97
Income Tax Expense	97	95	-131	59	42	59	176	219	265	134	239
Basic Earnings per Share	$2.09	$2.34	$0.04	$1.35	$2.60	$2.99	$9.33	$10.08	$11.17	$16.12	$9.68
Weighted Average Basic Shares Outstanding	83.85M	82.57M	88.47M	90.83M	89.82M	89.32M	85.03M	80.18M	79.00M	77.79M	75.36M
Diluted Earnings per Share	$2.06	$2.31	$0.04	$1.33	$2.56	$2.96	$9.21	$9.96	$11.08	$16.00	$9.65
Weighted Average Diluted Shares Outstanding	85.06M	83.82M	89.79M	92.12M	90.97M	90.02M	86.18M	81.07M	79.68M	78.34M	75.61M
Weighted Average Basic & Diluted Shares Outstanding	84M	82.70M	82M	90.70M	89.10M	88.72M	82.29M	79.06M	77.97M	76.82M	70.45M

This table shows Gartner's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	180	209	211	230	415	399	211	241	35	242	222
Consolidated Net Income / (Loss)	180	209	211	230	415	399	211	241	35	242	222
Net Income / (Loss) Continuing Operations	180	209	211	230	415	399	211	241	35	242	222
Total Pre-Tax Income	224	277	260	299	527	302	267	318	69	314	292
Total Operating Income	244	301	274	319	246	318	278	327	86	334	316
Total Gross Profit	958	1,056	1,013	1,082	1,009	1,140	1,059	1,155	1,050	1,180	1,082
Total Revenue	1,409	1,586	1,473	1,595	1,484	1,715	1,534	1,686	1,524	1,753	1,511
Operating Revenue	1,409	1,586	1,473	1,595	1,484	1,715	1,534	1,686	1,524	1,753	1,511
Total Cost of Revenue	451	530	459	513	475	575	475	532	474	573	429
Operating Cost of Revenue	451	530	459	513	475	575	475	532	474	573	429
Total Operating Expenses	714	755	740	763	763	822	781	828	964	846	766
Selling, General & Admin Expense	661	704	690	712	712	771	730	777	763	798	726
Depreciation Expense	25	26	26	28	29	29	29	31	31	28	25
Amortization Expense	24	23	23	23	22	22	22	20	20	20	20
Other Operating Expenses / (Income)	0.00	-	-	-	-	-	0.00	-	-	-	-6.14
Total Other Income / (Expense), net	-20	-24	-14	-19	281	-16	-11	-9.30	-17	-20	-24
Interest Expense	22	59	19	20	18	74	13	12	16	84	21
Other Income / (Expense), net	1.88	-3.68	4.89	0.50	299	-3.83	2.39	2.50	-0.58	-1.34	-2.63
Income Tax Expense	44	69	49	70	112	-97	56	77	34	72	70
Basic Earnings per Share	$2.28	$2.67	$2.69	$2.95	$5.36	$5.12	$2.73	$3.12	$0.47	$3.36	$3.19
Weighted Average Basic Shares Outstanding	78.92M	79.00M	78.34M	77.82M	77.48M	77.79M	77.36M	77.16M	74.88M	75.36M	69.80M
Diluted Earnings per Share	$2.26	$2.66	$2.67	$2.93	$5.32	$5.08	$2.71	$3.11	$0.47	$3.36	$3.18
Weighted Average Diluted Shares Outstanding	79.52M	79.68M	78.96M	78.29M	77.97M	78.34M	77.79M	77.36M	74.99M	75.61M	69.97M
Weighted Average Basic & Diluted Shares Outstanding	77.95M	77.97M	77.63M	77.06M	77.13M	76.82M	76.97M	75.74M	72.08M	70.45M	66.95M

This table details how cash moves in and out of Gartner's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	36	93	42	-402	119	403	74	-44	621	671	-264
Net Cash From Operating Activities	346	366	255	471	565	903	1,312	1,101	1,156	1,485	1,290
Net Cash From Continuing Operating Activities	346	366	255	471	565	903	1,312	1,101	1,156	1,485	1,290
Net Income / (Loss) Continuing Operations	176	194	3.28	122	233	267	794	808	882	1,254	729
Consolidated Net Income / (Loss)	176	194	3.28	122	233	267	794	808	882	1,254	729
Depreciation Expense	47	62	240	256	212	219	212	192	191	202	200
Amortization Expense	1.51	3.08	15	14	6.50	19	4.16	4.57	4.69	4.59	4.29
Non-Cash Adjustments To Reconcile Net Income	32	44	79	21	158	187	203	162	81	228	374
Changes in Operating Assets and Liabilities, net	89	63	-83	59	-44	212	99	-65	-3.60	-203	-18
Net Cash From Investing Activities	-242	-98	-2,753	384	-161	-84	-80	-118	54	-104	-115
Net Cash From Continuing Investing Activities	-242	-98	-2,753	384	-161	-84	-80	-118	54	-104	-115
Purchase of Property, Plant & Equipment	-46	-50	-111	-127	-149	-84	-60	-108	-103	-102	-115
Acquisitions	-196	-48	-2,642	-16	-26	0.00	-23	-9.51	-3.80	-2.00	0.00
Divestitures	-	0.00	0.00	527	14	-	0.00	0.00	161	0.00	0.00
Net Cash From Financing Activities	-68	-175	2,540	-1,257	-286	-416	-1,158	-1,027	-589	-710	-1,440
Net Cash From Continuing Financing Activities	-68	-175	2,540	-1,257	-286	-416	-1,158	-1,027	-589	-710	-1,440
Repayment of Debt	-20	-840	-456	-1,259	-419	-2,590	-120	-5.93	-7.80	-277	-281
Repurchase of Common Equity	-509	-59	-41	-261	-199	-176	-1,656	-1,044	-606	-735	-1,991
Issuance of Debt	440	715	3,025	248	314	2,332	600	0.00	0.00	274	800
Issuance of Common Equity	7.50	9.25	12	15	18	18	18	22	25	28	32
Cash Interest Paid	21	23	99	118	102	112	102	113	119	100	100
Cash Income Taxes Paid	84	86	76	96	119	34	253	175	307	313	210

This table details how cash moves in and out of Gartner's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	93	47	-56	7.05	503	217	135	81	-779	298	-52
Net Cash From Operating Activities	331	224	189	370	591	335	314	384	299	295	391
Net Cash From Continuing Operating Activities	331	224	189	370	591	335	314	384	299	295	391
Net Income / (Loss) Continuing Operations	180	209	211	230	415	399	211	241	35	242	222
Consolidated Net Income / (Loss)	180	209	211	230	415	399	211	241	35	242	222
Depreciation Expense	49	49	49	51	51	51	51	51	51	48	45
Amortization Expense	1.18	1.18	1.54	1.01	1.02	1.03	1.03	1.04	1.05	1.16	1.30
Non-Cash Adjustments To Reconcile Net Income	42	48	63	55	56	54	68	60	199	47	55
Changes in Operating Assets and Liabilities, net	59	-83	-135	34	68	-169	-17	31	12	-44	67
Net Cash From Investing Activities	-32	-23	-25	-29	-26	-24	-26	-36	-29	-24	84
Net Cash From Continuing Investing Activities	-32	-23	-25	-29	-26	-24	-26	-36	-29	-24	84
Purchase of Property, Plant & Equipment	-28	-28	-23	-29	-26	-24	-26	-36	-29	-24	-20
Divestitures	-	5.02	-	-	-	-	0.00	-	-	-	105
Net Cash From Financing Activities	-205	-155	-220	-334	-62	-95	-153	-267	-1,048	28	-527
Net Cash From Continuing Financing Activities	-205	-155	-220	-334	-62	-95	-153	-267	-1,048	28	-527
Repayment of Debt	-1.80	-2.40	-277	-0.37	-	-	0.00	-	-	-281	-1.51
Repurchase of Common Equity	-209	-158	-225	-340	-69	-102	-163	-274	-1,056	-498	-535
Issuance of Common Equity	5.88	5.99	8.05	6.41	6.33	7.40	9.74	7.73	7.74	7.25	8.66

This table presents Gartner's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	2,169	2,367	7,283	6,201	7,151	7,316	7,416	7,300	7,836	8,535	8,085
Total Current Assets	1,141	1,343	2,589	1,812	2,019	2,323	2,620	2,786	3,428	4,197	4,066
Cash & Equivalents	373	474	539	156	281	713	756	698	1,319	1,933	1,723
Accounts Receivable	581	643	1,177	1,255	1,326	1,242	1,365	1,557	1,601	1,696	1,685
Prepaid Expenses	62	85	125	165	146	109	118	119	127	153	152
Other Current Assets	125	141	205	235	266	260	381	363	380	414	401
Other Current Nonoperating Assets	-	0.00	543	-	-	-	0.00	49	-	0.00	106
Plant, Property, & Equipment, net	109	122	222	268	345	337	274	265	263	243	214
Total Noncurrent Assets	919	903	4,473	4,122	4,788	4,656	4,523	4,249	4,145	4,095	3,805
Goodwill	715	738	2,987	2,923	2,938	2,946	2,951	2,930	2,937	2,930	2,741
Intangible Assets	97	77	1,292	1,043	925	807	714	585	502	410	336
Other Noncurrent Operating Assets	107	87	194	156	925	904	857	734	706	755	728
Total Liabilities & Shareholders' Equity	2,169	2,367	7,283	6,201	7,151	7,316	7,416	7,300	7,836	8,535	8,085
Total Liabilities	2,301	2,306	6,300	5,351	6,213	6,226	7,045	7,072	7,155	7,176	7,765
Total Current Liabilities	1,323	1,460	2,823	2,621	2,857	2,947	3,379	3,598	3,778	3,969	4,072
Short-Term Debt	35	30	380	166	140	21	5.93	7.80	9.60	0.00	5.00
Accounts Payable	388	441	667	710	789	952	1,135	1,115	1,128	1,206	1,237
Current Deferred Revenue	901	989	1,630	1,745	1,928	1,975	2,238	2,444	2,641	2,763	2,810
Other Current Nonoperating Liabilities	-	0.00	146	-	-	-	0.00	31	-	0.00	21
Total Noncurrent Liabilities	977	846	3,477	2,730	3,356	3,278	3,666	3,474	3,378	3,206	3,693
Long-Term Debt	784	664	2,899	2,116	2,044	1,958	2,457	2,454	2,449	2,460	2,977
Other Noncurrent Operating Liabilities	194	182	578	614	1,312	1,320	1,210	1,021	929	747	717
Total Equity & Noncontrolling Interests	-132	61	983	851	939	1,090	371	228	681	1,359	320
Total Preferred & Common Equity	-132	61	983	851	939	1,090	371	228	681	1,359	320
Preferred Stock	-	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	-132	61	983	851	939	1,090	371	228	681	1,359	320
Common Stock	819	863	1,761	1,824	1,899	1,969	2,075	2,180	2,320	2,497	2,679
Retained Earnings	1,451	1,644	1,647	1,755	1,989	2,255	3,049	3,857	4,739	5,993	6,722
Treasury Stock	-2,357	-2,397	-2,427	-2,689	-2,872	-3,035	-4,672	-5,707	-6,303	-7,043	-9,040
Accumulated Other Comprehensive Income / (Loss)	-44	-50	1.51	-40	-78	-99	-81	-102	-76	-88	-41

This table presents Gartner's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2023	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	6/30/2023	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	7,356	7,244	7,836	7,710	7,431	7,845	8,535	8,480	8,328	7,249	7,655
Total Current Assets	2,899	2,838	3,428	3,326	3,109	3,552	4,197	4,132	3,974	3,063	3,648
Cash & Equivalents	1,173	1,249	1,319	1,236	1,236	1,768	1,933	2,091	2,198	1,431	1,667
Accounts Receivable	1,272	1,141	1,601	1,566	1,404	1,306	1,696	1,504	1,263	1,120	1,411
Prepaid Expenses	143	162	127	174	148	173	153	160	176	210	190
Other Current Assets	311	285	380	351	321	304	414	377	337	302	379
Other Current Nonoperating Assets	0.00	0.00	-	-	-	-	-	-	-	-	0.00
Plant, Property, & Equipment, net	259	260	263	257	258	254	243	249	254	249	205
Total Noncurrent Assets	4,198	4,147	4,145	4,127	4,064	4,040	4,095	4,098	4,100	3,937	3,802
Goodwill	2,932	2,933	2,937	2,934	2,934	2,938	2,930	2,933	2,938	2,790	2,740
Intangible Assets	548	519	502	478	455	440	410	392	376	357	316
Other Noncurrent Operating Assets	719	695	706	715	674	662	755	773	786	790	746
Total Liabilities & Shareholders' Equity	7,356	7,244	7,836	7,710	7,431	7,845	8,535	8,480	8,328	7,249	7,655
Total Liabilities	6,769	6,678	7,155	6,992	6,784	6,781	7,176	6,982	6,795	6,693	7,592
Total Current Liabilities	3,337	3,313	3,778	3,640	3,462	3,472	3,969	3,792	3,594	3,490	3,886
Short-Term Debt	9.00	9.60	9.60	0.00	0.00	0.00	0.00	-	0.36	0.73	5.00
Accounts Payable	829	909	1,128	844	835	910	1,206	869	902	958	862
Current Deferred Revenue	2,499	2,395	2,641	2,796	2,627	2,562	2,763	2,923	2,691	2,532	3,019
Other Current Nonoperating Liabilities	0.00	0.00	-	-	-	-	-	-	-	-	0.00
Total Noncurrent Liabilities	3,432	3,365	3,378	3,351	3,322	3,309	3,206	3,190	3,201	3,202	3,706
Long-Term Debt	2,451	2,450	2,449	2,457	2,458	2,459	2,460	2,461	2,462	2,462	2,978
Other Noncurrent Operating Liabilities	981	915	929	894	864	850	747	729	740	740	728
Total Equity & Noncontrolling Interests	587	567	681	718	647	1,065	1,359	1,498	1,533	557	63
Total Preferred & Common Equity	587	567	681	718	647	1,065	1,359	1,498	1,533	557	63
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	587	567	681	718	647	1,065	1,359	1,498	1,533	557	63
Common Stock	2,259	2,291	2,320	2,374	2,422	2,461	2,497	2,553	2,603	2,641	2,729
Retained Earnings	4,351	4,531	4,739	4,950	5,179	5,594	5,993	6,204	6,445	6,480	6,945
Treasury Stock	-5,938	-6,161	-6,303	-6,523	-6,873	-6,935	-7,043	-7,191	-7,469	-8,528	-9,566
Accumulated Other Comprehensive Income / (Loss)	-85	-95	-76	-82	-82	-56	-88	-68	-47	-36	-45

This table displays calculated financial ratios and metrics derived from Gartner's official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	7.01%	13.01%	35.46%	20.05%	6.79%	-3.44%	15.48%	15.67%	7.87%	6.10%	3.67%
EBITDA Growth	4.28%	10.82%	-33.35%	127.76%	3.32%	21.62%	80.42%	3.22%	6.85%	15.77%	-25.87%
EBIT Growth	2.60%	7.02%	-100.92%	10,698.02%	23.00%	29.01%	124.25%	5.71%	8.08%	17.36%	-29.39%
NOPAT Growth	-2.94%	10.21%	-102.16%	4,063.47%	78.32%	28.04%	86.90%	15.46%	9.98%	9.81%	-26.06%
Net Income Growth	-4.42%	10.22%	-98.31%	3,634.55%	90.51%	14.34%	197.50%	1.79%	9.24%	42.07%	-41.83%
EPS Growth	1.48%	12.14%	-98.27%	3,225.00%	92.48%	15.63%	211.15%	8.14%	11.25%	44.40%	-39.69%
Operating Cash Flow Growth	-0.35%	5.81%	-30.39%	85.12%	20.01%	59.75%	45.30%	-16.08%	4.93%	28.48%	-13.10%
Free Cash Flow Firm Growth	-44.90%	223.91%	-1,385.61%	117.24%	-14.83%	97.76%	16.15%	-5.75%	13.94%	-11.38%	19.05%
Invested Capital Growth	56.05%	-10.34%	1,083.58%	-10.53%	-4.53%	-17.06%	-11.85%	-5.02%	-7.76%	3.63%	-20.82%
Revenue Q/Q Growth	2.84%	2.49%	10.38%	1.91%	2.77%	-2.17%	4.26%	3.76%	1.40%	2.10%	0.58%
EBITDA Q/Q Growth	2.96%	3.11%	3.95%	9.86%	0.40%	7.09%	1.68%	10.02%	-2.42%	1.09%	1.29%
EBIT Q/Q Growth	2.48%	3.07%	-106.48%	30.19%	0.33%	10.44%	2.46%	12.26%	-2.84%	1.13%	1.88%
NOPAT Q/Q Growth	4.34%	-0.64%	-116.04%	-38.51%	-4.72%	16.82%	11.20%	7.45%	-5.32%	17.45%	-17.37%
Net Income Q/Q Growth	3.92%	0.37%	108.73%	-15.98%	-6.54%	24.16%	12.75%	6.24%	-5.18%	17.86%	-17.66%
EPS Q/Q Growth	5.10%	0.87%	111.76%	-15.82%	-6.57%	24.89%	14.27%	7.56%	-4.48%	17.82%	-15.13%
Operating Cash Flow Q/Q Growth	2.40%	1.14%	-19.36%	5.11%	7.14%	24.48%	-1.92%	-2.80%	1.87%	8.08%	-3.07%
Free Cash Flow Firm Q/Q Growth	45.80%	-7.01%	7.23%	-45.20%	2.93%	30.95%	-6.80%	0.10%	0.71%	7.43%	5.80%
Invested Capital Q/Q Growth	1.39%	8.02%	-6.96%	2.58%	1.66%	-4.27%	2.23%	5.59%	2.43%	7.44%	-6.02%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.21%	61.32%	60.13%	63.05%	63.48%	67.19%	69.50%	69.07%	67.78%	67.72%	68.39%
EBITDA Margin	15.79%	15.49%	7.62%	14.46%	13.99%	17.62%	27.53%	24.56%	24.33%	26.55%	18.98%
Operating Margin	13.31%	12.48%	-0.19%	6.53%	8.72%	11.96%	19.34%	20.09%	20.94%	18.45%	15.79%
EBIT Margin	13.55%	12.83%	-0.09%	7.68%	8.85%	11.82%	22.95%	20.97%	21.02%	23.25%	15.83%
Profit (Net Income) Margin	8.12%	7.92%	0.10%	3.08%	5.50%	6.51%	16.76%	14.75%	14.94%	20.00%	11.22%
Tax Burden Percent	64.52%	67.12%	-2.57%	67.61%	84.61%	81.79%	81.82%	78.64%	76.93%	90.37%	75.32%
Interest Burden Percent	92.91%	91.99%	4,436.55%	59.32%	73.42%	67.31%	89.27%	89.44%	92.41%	95.23%	94.11%
Effective Tax Rate	35.48%	32.88%	0.00%	32.39%	15.39%	18.21%	18.18%	21.36%	23.07%	9.63%	24.68%
Return on Invested Capital (ROIC)	72.26%	68.90%	-0.25%	5.57%	10.76%	15.42%	33.80%	42.72%	50.17%	56.39%	45.73%
ROIC Less NNEP Spread (ROIC-NNEP)	68.06%	65.53%	0.36%	3.19%	6.80%	6.96%	36.78%	39.40%	45.39%	81.46%	40.62%
Return on Net Nonoperating Assets (RNNOA)	1,148.66%	-610.22%	0.87%	7.78%	15.31%	10.87%	74.80%	227.06%	144.11%	66.53%	41.13%
Return on Equity (ROE)	1,220.92%	-541.32%	0.63%	13.35%	26.08%	26.29%	108.60%	269.78%	194.28%	122.93%	86.86%
Cash Return on Invested Capital (CROIC)	28.48%	79.80%	-169.08%	16.69%	15.40%	34.08%	46.40%	47.87%	58.25%	52.83%	68.97%
Operating Return on Assets (OROA)	14.39%	13.83%	-0.06%	4.53%	5.63%	6.70%	14.75%	15.61%	16.40%	17.80%	12.38%
Return on Assets (ROA)	8.62%	8.54%	0.07%	1.82%	3.49%	3.69%	10.77%	10.98%	11.66%	15.32%	8.78%
Return on Common Equity (ROCE)	1,220.92%	-541.32%	0.63%	13.35%	26.08%	26.29%	108.60%	269.78%	194.28%	122.93%	86.86%
Return on Equity Simple (ROE_SIMPLE)	-132.65%	317.98%	0.33%	14.39%	24.86%	24.46%	213.86%	354.61%	129.65%	92.24%	0.00%
Net Operating Profit after Tax (NOPAT)	186	205	-4.43	176	313	401	749	865	952	1,045	773
NOPAT Margin	8.59%	8.38%	-0.13%	4.42%	7.38%	9.78%	15.83%	15.80%	16.11%	16.67%	11.89%
Net Nonoperating Expense Percent (NNEP)	4.20%	3.37%	-0.60%	2.38%	3.96%	8.47%	-2.98%	3.32%	4.79%	-25.07%	5.10%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	32.17%	30.31%	27.36%	23.40%
Cost of Revenue to Revenue	38.79%	38.68%	39.87%	36.95%	36.52%	32.81%	30.51%	30.93%	32.22%	32.28%	31.61%
SG&A Expenses to Revenue	44.51%	44.56%	48.29%	47.39%	49.55%	49.74%	45.54%	45.31%	45.73%	46.03%	47.21%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	47.89%	48.83%	60.32%	56.52%	54.76%	55.23%	50.15%	48.98%	46.84%	49.27%	52.61%
Earnings before Interest and Taxes (EBIT)	293	314	-2.88	305	376	484	1,086	1,149	1,241	1,457	1,029
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	342	379	252	575	594	722	1,303	1,345	1,437	1,664	1,233
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	137.15	11.35	13.66	14.69	13.12	74.10	116.61	51.66	27.49	56.84
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	3.47	3.42	3.37	2.92	3.25	3.49	5.81	4.85	5.95	5.96	2.80
Price to Earnings (P/E)	42.79	43.13	3,404.61	94.89	59.09	53.62	34.65	32.88	39.85	29.81	24.94
Dividend Yield	0.21%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	2.34%	2.32%	0.03%	1.05%	1.69%	1.87%	2.89%	3.04%	2.51%	3.35%	4.01%
Enterprise Value to Invested Capital (EV/IC)	25.40	30.49	4.18	4.62	5.52	6.61	14.06	14.36	19.95	20.09	13.02
Enterprise Value to Revenue (EV/Rev)	3.68	3.51	4.20	3.46	3.70	3.80	6.17	5.17	6.15	6.05	2.99
Enterprise Value to EBITDA (EV/EBITDA)	23.30	22.63	55.10	23.92	26.42	21.56	22.41	21.06	25.26	22.78	15.77
Enterprise Value to EBIT (EV/EBIT)	27.17	27.33	0.00	45.02	41.77	32.13	26.88	24.66	29.24	26.01	18.90
Enterprise Value to NOPAT (EV/NOPAT)	42.84	41.84	0.00	78.28	50.10	38.84	38.97	32.74	38.15	36.27	25.17
Enterprise Value to Operating Cash Flow (EV/OCF)	23.04	23.44	54.63	29.17	27.74	17.24	22.25	25.72	31.41	25.52	15.07
Enterprise Value to Free Cash Flow (EV/FCFF)	108.71	36.13	0.00	26.14	35.03	17.58	28.39	29.22	32.87	38.71	16.68
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	-6.18	11.41	3.33	2.68	2.33	1.81	6.64	10.81	3.61	1.81	9.32
Long-Term Debt to Equity	-5.92	10.91	2.95	2.49	2.18	1.80	6.62	10.77	3.60	1.81	9.30
Financial Leverage	16.88	-9.31	2.45	2.44	2.25	1.56	2.03	5.76	3.18	0.82	1.01
Leverage Ratio	141.56	-63.42	9.24	7.35	7.46	7.13	10.08	24.57	16.66	8.03	9.90
Compound Leverage Factor	131.52	-58.34	409.97	4.36	5.48	4.80	9.00	21.98	15.40	7.64	9.32
Debt to Total Capital	119.29%	91.94%	76.93%	72.84%	69.94%	64.47%	86.91%	91.53%	78.32%	64.41%	90.31%
Short-Term Debt to Total Capital	5.10%	3.97%	8.91%	5.29%	4.48%	0.67%	0.21%	0.29%	0.31%	0.00%	0.15%
Long-Term Debt to Total Capital	114.19%	87.97%	68.02%	67.55%	65.46%	63.80%	86.70%	91.24%	78.01%	64.41%	90.16%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	-19.29%	8.06%	23.07%	27.16%	30.06%	35.53%	13.09%	8.47%	21.68%	35.59%	9.69%
Debt to EBITDA	2.40	1.83	12.99	3.97	3.68	2.74	1.89	1.83	1.71	1.48	2.42
Net Debt to EBITDA	1.31	0.58	10.86	3.70	3.20	1.75	1.31	1.31	0.79	0.32	1.02
Long-Term Debt to EBITDA	2.29	1.75	11.49	3.68	3.44	2.71	1.89	1.82	1.70	1.48	2.41
Debt to NOPAT	4.41	3.39	-740.10	12.99	6.97	4.94	3.29	2.85	2.58	2.35	3.86
Net Debt to NOPAT	2.40	1.08	-618.45	12.10	6.08	3.16	2.28	2.04	1.20	0.50	1.63
Long-Term Debt to NOPAT	4.22	3.24	-654.39	12.05	6.53	4.88	3.28	2.84	2.57	2.35	3.85
Altman Z-Score	4.24	4.55	1.79	2.35	2.35	2.49	3.92	4.13	5.02	5.44	3.79
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.86	0.92	0.92	0.69	0.71	0.79	0.78	0.77	0.91	1.06	1.00
Quick Ratio	0.72	0.77	0.61	0.54	0.56	0.66	0.63	0.63	0.77	0.91	0.84
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	73	237	-3,050	526	448	886	1,029	969	1,105	979	1,165
Operating Cash Flow to CapEx	749.14%	733.27%	229.78%	371.36%	379.45%	1,076.77%	2,193.52%	1,019.36%	1,120.73%	1,459.57%	1,120.67%
Free Cash Flow to Firm to Interest Expense	3.25	8.61	-23.84	4.15	4.36	5.52	8.68	7.68	8.32	7.47	9.30
Operating Cash Flow to Interest Expense	15.33	13.26	1.99	3.72	5.50	5.63	11.07	8.73	8.70	11.33	10.30
Operating Cash Flow Less CapEx to Interest Expense	13.28	11.46	1.12	2.72	4.05	5.11	10.57	7.87	7.93	10.56	9.38
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.06	1.08	0.69	0.59	0.64	0.57	0.64	0.74	0.78	0.77	0.78
Accounts Receivable Turnover	3.82	4.00	3.64	3.27	3.29	3.19	3.63	3.75	3.74	3.80	3.84
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	20.93	21.23	19.30	16.25	13.87	12.03	15.51	20.35	22.40	24.79	28.42
Accounts Payable Turnover	2.26	2.28	2.38	2.13	2.07	1.54	1.38	1.51	1.70	1.73	1.68
Days Sales Outstanding (DSO)	95.58	91.36	100.29	111.64	110.96	114.30	100.49	97.38	97.57	96.02	94.96
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	161.27	159.88	153.11	171.09	176.42	236.26	263.78	242.43	215.06	210.53	217.07
Cash Conversion Cycle (CCC)	-65.68	-68.52	-52.82	-59.44	-65.46	-121.96	-163.29	-145.05	-117.49	-114.51	-122.11
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	313	281	3,326	2,976	2,841	2,357	2,077	1,973	1,820	1,886	1,493
Invested Capital Turnover	8.41	8.22	1.84	1.26	1.46	1.58	2.14	2.70	3.11	3.38	3.85
Increase / (Decrease) in Invested Capital	113	-32	3,045	-350	-135	-485	-279	-104	-153	66	-393
Enterprise Value (EV)	7,961	8,570	13,904	13,745	15,687	15,569	29,200	28,327	36,303	37,896	19,443
Market Capitalization	7,515	8,349	11,164	11,620	13,785	14,303	27,494	26,563	35,163	37,369	18,184
Book Value per Share	($1.60)	$0.74	$10.85	$9.36	$10.49	$12.21	$4.51	$2.88	$8.73	$17.62	$4.44
Tangible Book Value per Share	($11.40)	($9.13)	($36.36)	($34.27)	($32.69)	($29.82)	($40.06)	($41.60)	($35.39)	($25.68)	($38.25)
Total Capital	686	755	4,262	3,132	3,122	3,069	2,834	2,689	3,139	3,819	3,302
Total Debt	819	694	3,279	2,282	2,184	1,979	2,463	2,461	2,458	2,460	2,982
Total Long-Term Debt	784	664	2,899	2,116	2,044	1,958	2,457	2,454	2,449	2,460	2,977
Net Debt	446	220	2,740	2,125	1,903	1,266	1,706	1,763	1,139	527	1,259
Capital Expenditures (CapEx)	46	50	111	127	149	84	60	108	103	102	115
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-520	-561	-393	-800	-979	-1,317	-1,509	-1,502	-1,659	-1,706	-1,723
Debt-free Net Working Capital (DFNWC)	-147	-87	146	-644	-698	-604	-753	-804	-340	228	-0.76
Net Working Capital (NWC)	-182	-117	-234	-809	-838	-624	-759	-811	-350	228	-5.76
Net Nonoperating Expense (NNE)	10	11	-7.71	53	80	134	-44	57	69	-209	43
Net Nonoperating Obligations (NNO)	446	220	2,343	2,125	1,903	1,266	1,706	1,745	1,139	527	1,173
Total Depreciation and Amortization (D&A)	49	65	255	269	218	238	217	197	196	207	205
Debt-free, Cash-free Net Working Capital to Revenue	-24.06%	-22.96%	-11.87%	-20.12%	-23.06%	-32.11%	-31.88%	-27.42%	-28.09%	-27.21%	-26.52%
Debt-free Net Working Capital to Revenue	-6.82%	-3.56%	4.40%	-16.19%	-16.44%	-14.73%	-15.90%	-14.68%	-5.76%	3.63%	-0.01%
Net Working Capital to Revenue	-8.44%	-4.79%	-7.07%	-20.35%	-19.73%	-15.23%	-16.03%	-14.82%	-5.92%	3.63%	-0.09%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.09	$2.34	$0.04	$1.35	$2.60	$2.99	$9.33	$10.08	$11.17	$16.12	$9.68
Adjusted Weighted Average Basic Shares Outstanding	83.85M	82.57M	88.47M	90.83M	89.82M	89.32M	85.03M	80.18M	79.00M	77.79M	75.36M
Adjusted Diluted Earnings per Share	$2.06	$2.31	$0.04	$1.33	$2.56	$2.96	$9.21	$9.96	$11.08	$16.00	$9.65
Adjusted Weighted Average Diluted Shares Outstanding	85.06M	83.82M	89.79M	92.12M	90.97M	90.02M	86.18M	81.07M	79.68M	78.34M	75.61M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	82.34M	82.65M	90.83M	89.71M	89.10M	88.72M	82.29M	79.06M	77.97M	76.82M	70.45M
Normalized Net Operating Profit after Tax (NOPAT)	203	233	106	248	321	406	754	872	959	1,046	886
Normalized NOPAT Margin	9.37%	9.55%	3.22%	6.24%	7.56%	9.90%	15.93%	15.93%	16.23%	16.69%	13.63%
Pre Tax Income Margin	12.58%	11.80%	-3.86%	4.56%	6.50%	7.96%	20.49%	18.76%	19.42%	22.14%	14.90%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	12.99	11.37	-0.02	2.41	3.65	3.02	9.17	9.10	9.35	11.12	8.21
NOPAT to Interest Expense	8.24	7.43	-0.03	1.39	3.04	2.50	6.32	6.86	7.17	7.97	6.17
EBIT Less CapEx to Interest Expense	10.95	9.57	-0.89	1.41	2.20	2.50	8.66	8.24	8.57	10.34	7.29
NOPAT Less CapEx to Interest Expense	6.20	5.62	-0.90	0.38	1.60	1.98	5.82	6.00	6.39	7.20	5.25
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	289.83%	30.46%	1,258.68%	213.00%	85.32%	66.09%	208.62%	129.21%	68.69%	58.65%	273.05%

This table displays calculated financial ratios and metrics derived from Gartner's official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	70,450,294.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	70,450,294.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	3.16
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	5.78%	5.41%	4.55%	6.11%	5.36%	8.13%	4.16%	5.73%	2.68%	2.18%	-1.51%
EBITDA Growth	-4.74%	-9.29%	-27.79%	10.21%	101.72%	5.16%	0.79%	2.84%	-76.93%	4.29%	8.42%
EBIT Growth	-6.12%	-10.87%	-31.78%	10.60%	121.21%	5.45%	0.59%	3.23%	-84.26%	6.03%	11.78%
NOPAT Growth	3.42%	-19.18%	-29.80%	15.18%	-1.20%	85.14%	-1.13%	1.37%	-77.31%	-38.58%	9.42%
Net Income Growth	3.72%	-18.76%	-28.82%	15.91%	130.57%	91.04%	0.19%	4.89%	-91.48%	-39.25%	5.41%
EPS Growth	4.15%	-16.35%	-27.45%	18.15%	135.40%	90.98%	1.50%	6.14%	-91.17%	-33.86%	17.34%
Operating Cash Flow Growth	5.09%	10.45%	14.67%	-15.10%	78.51%	49.49%	66.02%	3.68%	-49.43%	-12.17%	24.73%
Free Cash Flow Firm Growth	-18.45%	-1.31%	-19.43%	-16.11%	-25.23%	-6.84%	-9.87%	28.02%	-2.24%	83.84%	150.29%
Invested Capital Growth	-4.91%	-7.76%	-4.94%	-0.27%	-1.21%	3.63%	-3.69%	-3.84%	-9.48%	-20.82%	-26.15%
Revenue Q/Q Growth	-6.28%	12.59%	-7.14%	8.29%	-6.94%	15.55%	-10.55%	9.93%	-9.63%	14.99%	-13.78%
EBITDA Q/Q Growth	-12.02%	17.65%	-5.35%	12.50%	61.02%	-38.67%	-9.28%	14.80%	-63.88%	177.23%	-5.69%
EBIT Q/Q Growth	-14.68%	20.88%	-6.37%	14.53%	70.64%	-42.37%	-10.68%	17.54%	-73.98%	288.18%	-5.84%
NOPAT Q/Q Growth	-7.67%	15.72%	-2.05%	10.05%	-20.80%	116.84%	-47.69%	12.83%	-82.27%	486.96%	-6.80%
Net Income Q/Q Growth	-9.11%	15.90%	0.92%	9.03%	80.81%	-3.97%	-47.08%	14.15%	-85.32%	584.88%	-8.18%
EPS Q/Q Growth	-8.87%	17.70%	0.38%	9.74%	81.57%	-4.51%	-46.65%	14.76%	-84.89%	614.89%	-5.36%
Operating Cash Flow Q/Q Growth	-24.06%	-32.22%	-15.82%	95.92%	59.68%	-43.23%	-6.51%	22.34%	-22.11%	-1.41%	32.76%
Free Cash Flow Firm Q/Q Growth	-3.27%	32.01%	-14.97%	-22.74%	-13.78%	64.48%	-17.73%	9.74%	-34.16%	209.30%	12.00%
Invested Capital Q/Q Growth	-5.18%	2.43%	6.56%	-3.64%	-6.07%	7.44%	-0.96%	-3.78%	-11.59%	-6.02%	-7.62%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	68.00%	66.60%	68.81%	67.82%	67.98%	66.48%	69.04%	68.47%	68.88%	67.33%	71.59%
EBITDA Margin	21.01%	21.96%	22.38%	23.25%	40.23%	21.35%	21.65%	22.61%	9.04%	21.79%	23.84%
Operating Margin	17.35%	19.00%	18.59%	19.99%	16.56%	18.53%	18.12%	19.40%	5.67%	19.07%	20.92%
EBIT Margin	17.48%	18.77%	18.93%	20.02%	36.71%	18.31%	18.28%	19.54%	5.63%	19.00%	20.74%
Profit (Net Income) Margin	12.78%	13.15%	14.29%	14.39%	27.96%	23.24%	13.75%	14.28%	2.32%	13.82%	14.71%
Tax Burden Percent	80.19%	75.25%	81.12%	76.70%	78.78%	132.13%	79.00%	75.77%	50.89%	77.16%	76.04%
Interest Burden Percent	91.14%	93.12%	93.11%	93.74%	96.70%	96.08%	95.22%	96.42%	81.02%	94.27%	93.29%
Effective Tax Rate	19.81%	24.75%	18.88%	23.30%	21.22%	-32.13%	21.00%	24.23%	49.11%	22.84%	23.96%
Return on Invested Capital (ROIC)	44.47%	44.54%	45.27%	49.66%	45.35%	82.81%	47.60%	51.47%	11.14%	56.59%	63.43%
ROIC Less NNEP Spread (ROIC-NNEP)	43.45%	43.28%	44.43%	48.47%	68.64%	80.25%	46.51%	50.52%	10.14%	54.74%	61.29%
Return on Net Nonoperating Assets (RNNOA)	272.25%	137.42%	104.02%	98.64%	79.98%	65.55%	33.39%	34.46%	10.78%	55.42%	66.19%
Return on Equity (ROE)	316.72%	181.96%	149.28%	148.30%	125.33%	148.36%	80.99%	85.94%	21.92%	112.01%	129.61%
Cash Return on Invested Capital (CROIC)	60.17%	58.25%	48.16%	47.81%	51.59%	52.83%	58.57%	61.00%	65.88%	68.97%	78.92%
Operating Return on Assets (OROA)	14.79%	14.65%	14.98%	16.42%	29.86%	14.02%	14.29%	15.92%	4.82%	14.85%	16.65%
Return on Assets (ROA)	10.81%	10.27%	11.31%	11.80%	22.75%	17.79%	10.75%	11.63%	1.99%	10.80%	11.81%
Return on Common Equity (ROCE)	316.72%	181.96%	149.28%	148.30%	125.33%	148.36%	80.99%	85.94%	21.92%	112.01%	129.61%
Return on Equity Simple (ROE_SIMPLE)	164.24%	0.00%	111.01%	128.16%	99.91%	0.00%	83.73%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	196	227	222	244	194	420	220	248	44	258	240
NOPAT Margin	13.91%	14.30%	15.08%	15.33%	13.05%	24.48%	14.32%	14.70%	2.88%	14.72%	15.91%
Net Nonoperating Expense Percent (NNEP)	1.02%	1.26%	0.83%	1.19%	-23.30%	2.56%	1.09%	0.95%	1.00%	1.85%	2.14%
Return On Investment Capital (ROIC_SIMPLE)	-	7.23%	-	-	-	11.00%	5.55%	6.20%	1.46%	7.81%	7.89%
Cost of Revenue to Revenue	32.00%	33.41%	31.19%	32.18%	32.02%	33.52%	30.96%	31.53%	31.12%	32.67%	28.41%
SG&A Expenses to Revenue	46.89%	44.37%	46.83%	44.64%	47.95%	44.96%	47.60%	46.07%	50.03%	45.53%	48.07%
R&D to Revenue	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Expenses to Revenue	50.65%	47.59%	50.21%	47.83%	51.41%	47.95%	50.91%	49.08%	63.22%	48.26%	50.67%
Earnings before Interest and Taxes (EBIT)	246	298	279	319	545	314	280	330	86	333	313
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	296	348	330	371	597	366	332	381	138	382	360
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	47.80	51.66	51.74	53.91	36.68	27.49	21.53	20.30	35.77	56.84	175.99
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Price to Revenue (P/Rev)	4.65	5.95	6.22	5.75	6.36	5.96	5.09	4.85	3.08	2.80	1.72
Price to Earnings (P/E)	29.10	39.85	46.61	42.07	36.71	29.81	25.71	24.59	22.48	24.94	15.06
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.44%	2.51%	2.15%	2.38%	2.72%	3.35%	3.89%	4.07%	4.45%	4.01%	6.64%
Enterprise Value to Invested Capital (EV/IC)	15.92	19.95	19.79	19.31	22.64	20.09	17.46	17.46	13.18	13.02	9.04
Enterprise Value to Revenue (EV/Rev)	4.86	6.15	6.43	5.95	6.47	6.05	5.15	4.89	3.24	2.99	1.93
Enterprise Value to EBITDA (EV/EBITDA)	19.21	25.26	29.29	26.83	24.15	22.78	19.57	18.71	17.20	15.77	9.89
Enterprise Value to EBIT (EV/EBIT)	22.15	29.24	34.53	31.59	27.59	26.01	22.36	21.36	20.74	18.90	11.75
Enterprise Value to NOPAT (EV/NOPAT)	28.15	38.15	44.76	40.56	44.67	36.27	31.26	29.99	22.40	25.17	15.73
Enterprise Value to Operating Cash Flow (EV/OCF)	24.94	31.41	32.53	32.39	28.93	25.52	20.26	19.33	15.73	15.07	9.12
Enterprise Value to Free Cash Flow (EV/FCFF)	25.80	32.87	40.05	40.33	43.61	38.71	29.25	28.06	19.01	16.68	9.73
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	4.34	3.61	3.42	3.80	2.31	1.81	1.64	1.61	4.43	9.32	47.06
Long-Term Debt to Equity	4.32	3.60	3.42	3.80	2.31	1.81	1.64	1.61	4.42	9.30	46.98
Financial Leverage	6.27	3.18	2.34	2.03	1.17	0.82	0.72	0.68	1.06	1.01	1.08
Leverage Ratio	27.45	16.66	12.67	11.99	9.25	8.03	7.31	7.23	9.31	9.90	10.33
Compound Leverage Factor	25.02	15.52	11.80	11.24	8.95	7.71	6.96	6.97	7.54	9.33	9.64
Debt to Total Capital	81.28%	78.32%	77.38%	79.17%	69.78%	64.41%	62.16%	61.63%	81.57%	90.31%	97.92%
Short-Term Debt to Total Capital	0.32%	0.31%	0.00%	0.00%	0.00%	0.00%	0.00%	0.01%	0.02%	0.15%	0.16%
Long-Term Debt to Total Capital	80.96%	78.01%	77.38%	79.17%	69.78%	64.41%	62.16%	61.62%	81.54%	90.16%	97.76%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	18.72%	21.68%	22.62%	20.83%	30.22%	35.59%	37.84%	38.37%	18.43%	9.69%	2.08%
Debt to EBITDA	1.67	1.71	1.88	1.83	1.49	1.48	1.48	1.47	2.02	2.42	2.37
Net Debt to EBITDA	0.82	0.79	0.93	0.91	0.42	0.32	0.22	0.16	0.85	1.02	1.04
Long-Term Debt to EBITDA	1.66	1.70	1.88	1.83	1.49	1.48	1.48	1.47	2.02	2.41	2.36
Debt to NOPAT	2.45	2.58	2.87	2.76	2.76	2.35	2.36	2.35	2.63	3.86	3.76
Net Debt to NOPAT	1.20	1.20	1.42	1.37	0.78	0.50	0.35	0.25	1.10	1.63	1.66
Long-Term Debt to NOPAT	2.44	2.57	2.87	2.76	2.76	2.35	2.36	2.35	2.63	3.85	3.76
Altman Z-Score	4.15	4.62	4.93	4.96	5.48	5.00	4.70	4.79	3.90	3.51	3.10
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	0.86	0.91	0.91	0.90	1.02	1.06	1.09	1.11	0.88	1.00	0.94
Quick Ratio	0.72	0.77	0.77	0.76	0.89	0.91	0.95	0.96	0.73	0.84	0.79
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	288	380	323	250	215	354	291	319	210	651	729
Operating Cash Flow to CapEx	1,163.21%	801.78%	833.35%	1,259.80%	2,292.55%	1,400.76%	1,226.14%	1,058.17%	1,012.93%	1,235.92%	1,914.70%
Free Cash Flow to Firm to Interest Expense	13.19	6.44	16.81	12.48	11.98	4.79	21.71	27.07	12.92	7.77	34.62
Operating Cash Flow to Interest Expense	15.17	3.80	9.83	18.51	32.89	4.54	23.37	32.50	18.35	3.52	18.58
Operating Cash Flow Less CapEx to Interest Expense	13.86	3.33	8.65	17.04	31.46	4.22	21.47	29.43	16.54	3.23	17.61
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.85	0.78	0.79	0.82	0.81	0.77	0.78	0.81	0.86	0.78	0.80
Accounts Receivable Turnover	5.33	3.74	3.87	4.53	5.02	3.80	4.12	4.81	5.32	3.84	4.44
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	22.58	22.40	23.26	23.45	23.89	24.79	25.01	25.06	25.68	28.42	28.50
Accounts Payable Turnover	2.10	1.70	2.29	2.35	2.18	1.73	2.38	2.37	2.20	1.68	2.32
Days Sales Outstanding (DSO)	68.54	97.57	94.43	80.55	72.73	96.02	88.52	75.83	68.55	94.96	82.17
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	173.49	215.06	159.35	155.47	167.78	210.53	153.39	154.13	165.80	217.07	157.39
Cash Conversion Cycle (CCC)	-104.95	-117.49	-64.93	-74.92	-95.05	-114.51	-64.87	-78.30	-97.25	-122.11	-75.22
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,777	1,820	1,939	1,869	1,755	1,886	1,868	1,797	1,589	1,493	1,379
Invested Capital Turnover	3.20	3.11	3.00	3.24	3.48	3.38	3.32	3.50	3.86	3.85	3.99
Increase / (Decrease) in Invested Capital	-92	-153	-101	-5.07	-22	66	-71	-72	-166	-393	-488
Enterprise Value (EV)	28,295	36,303	38,377	36,083	39,741	37,896	32,614	31,376	20,941	19,443	12,471
Market Capitalization	27,085	35,163	37,156	34,861	39,051	37,369	32,244	31,112	19,909	18,184	11,155
Book Value per Share	$7.19	$8.73	$9.17	$8.33	$13.82	$17.62	$19.50	$19.91	$7.35	$4.44	$0.90
Tangible Book Value per Share	($36.61)	($35.39)	($34.39)	($35.33)	($30.02)	($25.68)	($23.78)	($23.14)	($34.20)	($38.25)	($42.48)
Total Capital	3,026	3,139	3,175	3,105	3,524	3,819	3,959	3,995	3,020	3,302	3,046
Total Debt	2,460	2,458	2,457	2,458	2,459	2,460	2,461	2,462	2,463	2,982	2,983
Total Long-Term Debt	2,450	2,449	2,457	2,458	2,459	2,460	2,461	2,462	2,462	2,977	2,978
Net Debt	1,210	1,139	1,221	1,222	691	527	370	264	1,032	1,259	1,316
Capital Expenditures (CapEx)	28	28	23	29	26	24	26	36	29	24	20
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,715	-1,659	-1,550	-1,589	-1,689	-1,706	-1,751	-1,817	-1,857	-1,723	-1,900
Debt-free Net Working Capital (DFNWC)	-466	-340	-314	-353	80	228	340	381	-427	-0.76	-233
Net Working Capital (NWC)	-475	-350	-314	-353	80	228	340	380	-427	-5.76	-238
Net Nonoperating Expense (NNE)	16	18	12	15	-221	21	8.71	7.05	8.58	16	18
Net Nonoperating Obligations (NNO)	1,210	1,139	1,221	1,222	691	527	370	264	1,032	1,173	1,316
Total Depreciation and Amortization (D&A)	50	51	51	52	52	52	52	52	52	49	47
Debt-free, Cash-free Net Working Capital to Revenue	-29.44%	-28.09%	-25.96%	-26.21%	-27.51%	-27.21%	-27.66%	-28.30%	-28.75%	-26.52%	-29.35%
Debt-free Net Working Capital to Revenue	-7.99%	-5.76%	-5.26%	-5.82%	1.30%	3.63%	5.38%	5.93%	-6.61%	-0.01%	-3.60%
Net Working Capital to Revenue	-8.16%	-5.92%	-5.26%	-5.82%	1.30%	3.63%	5.38%	5.92%	-6.62%	-0.09%	-3.68%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.28	$2.67	$2.69	$2.95	$5.36	$5.12	$2.73	$3.12	$0.47	$3.36	$3.19
Adjusted Weighted Average Basic Shares Outstanding	78.92M	79.00M	78.34M	77.82M	77.48M	77.79M	77.36M	77.16M	74.88M	75.36M	69.80M
Adjusted Diluted Earnings per Share	$2.26	$2.66	$2.67	$2.93	$5.32	$5.08	$2.71	$3.11	$0.47	$3.36	$3.18
Adjusted Weighted Average Diluted Shares Outstanding	79.52M	79.68M	78.96M	78.29M	77.97M	78.34M	77.79M	77.36M	74.99M	75.61M	69.97M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	77.95M	77.97M	77.63M	77.06M	77.13M	76.82M	76.97M	75.74M	72.08M	70.45M	66.95M
Normalized Net Operating Profit after Tax (NOPAT)	200	228	223	245	194	222	220	248	120	258	240
Normalized NOPAT Margin	14.17%	14.38%	15.11%	15.35%	13.06%	12.97%	14.32%	14.70%	7.89%	14.72%	15.91%
Pre Tax Income Margin	15.93%	17.48%	17.62%	18.76%	35.50%	17.59%	17.40%	18.84%	4.56%	17.91%	19.35%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	11.29	5.05	14.51	15.97	30.33	4.25	20.91	27.93	5.27	3.97	14.89
NOPAT to Interest Expense	8.98	3.84	11.56	12.23	10.78	5.68	16.38	21.00	2.70	3.08	11.42
EBIT Less CapEx to Interest Expense	9.98	4.57	13.33	14.50	28.90	3.93	19.00	24.86	3.46	3.69	13.92
NOPAT Less CapEx to Interest Expense	7.68	3.37	10.38	10.76	9.35	5.36	14.47	17.93	0.89	2.79	10.45
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	49.97%	68.69%	90.87%	112.53%	74.44%	58.65%	53.66%	48.03%	180.05%	273.05%	319.07%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways for Gartner Inc (NYSE: IT) based on the last four years of quarterly results, with a focus on the latest four quarters through Q4 2025. The analysis highlights trends in revenue, profitability, cash flow, and balance-sheet positioning that may matter for retail investors.

Gross margin remains solid and stable. Across Q1–Q4 2025, Gartner’s gross margin sits in the roughly 67%–69% range, indicating consistent profitability on revenue before operating expenses.
Operating income was positive in all four 2025 quarters, rising notably in Q4. Q4 2025 operating income was about $334 million, up significantly from Q3 2025’s roughly $86 million, showing improving operating execution.
Diluted earnings per share (EPS) improved in Q4 2025. Diluted EPS reached about $3.36 in Q4 2025 (vs. much lower levels in prior quarters), driven by higher net income for the quarter.
Operating cash flow remained robust in 2025. Net cash from continuing operating activities hovered around $300 million per quarter (e.g., ~$313.5M in Q1, ~$383.6M in Q2, ~$298.7M in Q3, and ~$294.5M in Q4 2025), supporting capital deployment and debt service.
Revenue shows seasonality with a strong Q4 finish in 2025. Q4 2025 revenue was about $1.75 billion, building on earlier 2025 quarters but reflecting typical quarterly volatility and seasonality in Gartner’s mix of services and research offerings.
Financing activities are volatile and can swing cash flow. Large share repurchases in Q3 2025 and various debt actions caused notable fluctuations in net cash from financing activities and overall cash change.
Liquidity remains solid, with a healthy cash cushion. Cash and cash equivalents ranged roughly from $1.4B to $2.2B across 2025 quarters, providing liquidity against near-term liabilities and ongoing capex.
Leverage remains high relative to equity. Total liabilities around $6.7B versus total equity near $1.6B (as of mid-2025 quarters) indicate a substantial debt load and potential sensitivity to interest costs.
Impairment-related charges weighed on profitability in Q3 2025. A notable impairment expense (~$150M) hit operating results in Q3 2025, contributing to softer quarterly profitability.
Financing outflows intensified in certain quarters. Q3 2025 saw meaningful net cash outflows from financing activities (partly due to share repurchases and debt actions), affecting overall cash movement despite strong operating cash flow.

05/14/26 03:50 PM ETAI Generated. May Contain Errors.

Gartner Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Gartner's financial year ends in December. Their financial year 2025 ended on December 31, 2025.

Gartner's net income appears to be on an upward trend, with a most recent value of $729.23 million in 2025, rising from $175.64 million in 2015. The previous period was $1.25 billion in 2024. View Gartner's forecast to see where analysts expect Gartner to go next.

Gartner's total operating income in 2025 was $1.03 billion, based on the following breakdown:

Total Gross Profit: $4.44 billion
Total Operating Expenses: $3.42 billion

Over the last 10 years, Gartner's total revenue changed from $2.16 billion in 2015 to $6.50 billion in 2025, a change of 200.4%.

Gartner's total liabilities were at $7.77 billion at the end of 2025, a 8.2% increase from 2024, and a 237.5% increase since 2015.

In the past 10 years, Gartner's cash and equivalents has ranged from $156.37 million in 2018 to $1.93 billion in 2024, and is currently $1.72 billion as of their latest financial filing in 2025.

Over the last 10 years, Gartner's book value per share changed from -1.60 in 2015 to 4.44 in 2025, a change of -377.8%.

Related Companies

Financial statements for NYSE:IT last updated on 5/8/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Gartner (IT) Financials

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