GARTNER INC financial statements

Income statement, balance sheet and cash flow statement for the last 10 fiscal years, taken from the XBRL data GARTNER INC files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Revenue	2,445	3,311	3,975	4,245	4,099	4,734	5,476	5,907	6,267	6,497
Cost of revenue	946	1,320	1,469	1,551	1,345	1,444	1,694	1,903	2,023	2,054
Gross profit	1,499	1,991	2,507	2,695	2,754	3,290	3,815	4,035	4,278	4,468
Selling, general and administrative	1,089	1,599	1,884	2,103	2,039	2,156	2,481	2,702	2,885	3,068
Operating income	305	-6.33	260	370	490	916	1,100	1,237	1,156	1,026
Interest expense	27.6	128	127	103	116	119	126	133	131	125
Interest income							4.88	38.5	61.6	64.7
Other non-operating income	8.41	3.45	0.17	7.53	-5.65	18.4	48.4	1.4	0.58	2.97
Pre-tax income	288	-128	181	276	326	970	1,027	1,147	1,387	968
Income tax	94.8	-131	58.7	42.4	59.4	176	219	265	134	239
Net income	194	3.28	122	233	267	794	808	882	1,254	729
EBITDA	367	234	515	582	709	1,128	1,292	1,428	1,359	1,226
EPS, basic	2.34	0.04	1.35	2.60	2.99	9.33	10.08	11.17	16.12	9.68
EPS, diluted	2.31	0.04	1.33	2.56	2.96	9.21	9.96	11.08	16.00	9.65
Shares, basic (weighted)	82.6	88.5	90.8	89.8	89.3	85	80.2	79	77.8	75.4
Shares, diluted (weighted)	83.8	89.8	92.1	91	90	86.2	81.1	79.7	78.3	75.6

Balance sheet

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Cash and equivalents	474	539	156	281	713	756	698	1,319	1,933	1,723
Receivables	643	1,177	1,255	1,326	1,242	1,365	1,557	1,601	1,696	1,685
Other current assets	84.5	125	165	146	109	118	119	127	153	152
Total current assets	1,343	2,589	1,812	2,019	2,323	2,620	2,786	3,428	4,197	4,066
Property, plant and equipment	122	222	268	345	337	274	265	263	243	214
Lease right-of-use assets				703	647	548	437	367	257	214
Goodwill	738	2,987	2,923	2,938	2,946	2,951	2,930	2,937	2,930	2,741
Intangible assets	76.8	1,292	1,043	925	807	714	585	502	410	336
Other non-current assets	87.3	194	156	222	256	309	298	339	498	514
Total assets	2,367	7,283	6,201	7,151	7,316	7,416	7,300	7,836	8,535	8,085
Accounts payable	41	49	37.5	33	38.6	49.3	83.2	63.1	55.8	49.8
Accrued liabilities	87.8	120	144	165	216	234	221	243	247	284
Deferred revenue	989	1,630	1,745	1,928	1,975	2,238	2,444	2,641	2,763	2,810
Short-term debt	30	380	166	140	20.5	5.93	7.8	9.6	0	5
Total current liabilities	1,460	2,823	2,621	2,857	2,947	3,379	3,598	3,778	3,969	4,072
Long-term debt	664	2,899	2,116	2,044	1,958	2,457	2,454	2,449	2,460	2,977
Lease liabilities	38	116	165	833	780	698	597	513	340	270
Other non-current liabilities	182	578	614	480	540	512	423	415	407	447
Total liabilities	2,306	6,300	5,351	6,213	6,226	7,045	7,072	7,155	7,176	7,765
Total debt	694	3,279	2,282	2,184	1,979	2,463	2,461	2,458	2,460	2,982
Paid-in capital	863	1,761	1,824	1,899	1,969	2,075	2,180	2,320	2,497	2,679
Retained earnings	1,644	1,647	1,755	1,989	2,255	3,049	3,857	4,739	5,993	6,722
Treasury stock	-2,397	-2,427	-2,689	-2,872	-3,035	-4,672	-5,707	-6,303	-7,043	-9,040
Other comprehensive income	-49.7	1.51	-39.9	-77.9	-99.2	-81.4	-102	-76.3	-88.3	-41
Shareholders' equity	60.9	983	851	939	1,090	371	228	681	1,359	320
Total equity	60.9	983	851	939	1,090	371	228	681	1,359	320
Total liabilities and equity	2,367	7,283	6,201	7,151	7,316	7,416	7,300	7,836	8,535	8,085

Cash flow statement

	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Net income	194	3.28	122	233	267	794	808	882	1,254	729
Depreciation and amortization	62	240	256	212	219	212	192	191	202	200
Stock-based compensation	46.7	78.9	66.2	69	62.5	98.6	90.6	130	155	156
Deferred income tax	-2.04	-216	-0.08	-71.5	-43	-34.9	-35.7	-61.8	-159	5.97
Change in receivables	-68.7	-369	-115	-66.7	99.4	-145	-241	-24.7	-138	38
Change in payables	56.4	187	55.2	-54.6	112	121	-102	-28.5	29.4	-10.8
Cash from operations	366	255	471	565	903	1,312	1,101	1,156	1,485	1,290
Capital expenditures	-49.9	-111	-127	-149	-83.9	-59.8	-108	-103	-102	-115
Acquisitions	-48.2	-2,642	-15.9	-26	0	-22.9	-9.51	-3.8	-2	0
Cash from investing	-98.1	-2,753	384	-161	-83.9	-80.5	-118	54.2	-104	-115
Debt issued	715	3,025	0	5	2,000	600	0	0	0	800
Debt repaid	-835	-404	-571	-103	-2,058	-108	-5.93	-7.8	-274	0
Share buybacks	-59	-41.3	-261	-199	-176	-1,656	-1,044	-606	-735	-1,991
Cash from financing	-175	2,540	-1,257	-286	-416	-1,158	-1,027	-589	-710	-1,440
Exchange rate effect	-5.64	25.9	-6.49	3.61	28.6	-26.4	-18.4	-0.01	-57.5	53.9
Net change in cash	92.9	41.8	-402	119	403	74.4	-43.6	621	671	-264
Free cash flow	316	144	344	416	819	1,253	993	1,053	1,383	1,175
Interest paid	23.4	98.5	118	102	112	102	113	119	100	99.5
Income taxes paid	86.3	76.1	95.8	119	33.9	253	175	307	313	210

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $187.90 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	70.1%	Gross profit / revenue.
Operating margin	17.3%	Operating income / revenue.
EBITDA margin	20.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	15.9%	Pre-tax income / revenue.
Net margin	12.0%	Net income / revenue.
FCF margin	19.9%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	21.4%	Cash from operations / revenue.
Effective tax rate	24.7%	Income tax / pre-tax income, when pre-tax income is positive.
Return on assets (ROA)	10.8%	Net income / average total assets.
Return on invested capital (ROIC)	63.4%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue	47.2%	Selling, general and administrative expense / revenue.
Stock-based pay / revenue	2.3%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.4%	Capital expenditures / revenue.
D&A / revenue	2.9%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	3.7%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	5.9%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	9.6%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	4.5%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	5.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	10.2%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	-11.3%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	-2.3%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	15.9%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	-9.8%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	-1.7%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	11.6%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	-41.8%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	-3.4%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	22.3%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	-39.7%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	-1.0%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	26.7%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	-13.1%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	5.4%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	7.4%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	-15.0%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	5.8%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	7.5%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	-76.5%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	12.0%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	-21.7%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	-5.3%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	3.5%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	2.0%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-3.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	-2.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	-3.4%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	0.88x	Current assets / current liabilities.
Quick ratio	0.73x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	0.41x	(Cash + short-term investments) / current liabilities.
Debt / assets	41.4%	Total debt / total assets.
Liabilities / assets	102.3%	Total liabilities / total assets.
Net debt	$1.49B	Total debt - cash - short-term investments. Negative means more cash than debt.
Net debt / EBITDA	1.14x	Net debt / EBITDA (twelve months), when EBITDA is positive.
Interest coverage	7.78x	Operating income / interest expense.
Working capital	-$439.0M	Current assets - current liabilities.
Goodwill and intangibles / assets	42.2%	(Goodwill + intangible assets) / total assets.
Tangible book value	-$3.20B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.90x	Revenue / average total assets.
Fixed asset turnover	32.4x	Revenue / average property, plant and equipment.
Receivables turnover	5.38x	Revenue / average receivables.
Days sales outstanding	68 days	365 x average receivables / revenue.
Days payables	169 days	365 x average accounts payable / cost of revenue.
FCF conversion	166.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	6.8%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$11.65	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$97.08	Revenue / diluted weighted shares.
FCF per share	$19.36	Free cash flow / diluted weighted shares.
Operating cash flow per share	$20.77	Cash from operations / diluted weighted shares.
Book value per share	-$2.51	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	-$48.07	Tangible book value / shares outstanding.
Cash per share	$22.36	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	204.5%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$11.87B	Share price x shares outstanding.
Enterprise value	$13.36B	Market cap + total debt - cash - short-term investments.
P/E	15.3x	Market cap / net income. Only when net income is positive.
P/S	1.84x	Market cap / revenue.
P/FCF	9.21x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	8.58x	Market cap / cash from operations, when positive.
EV/Sales	2.07x	Enterprise value / revenue.
EV/EBIT	12.0x	Enterprise value / operating income, when both are positive.
EV/EBITDA	10.2x	Enterprise value / EBITDA, when both are positive.
EV/FCF	10.4x	Enterprise value / free cash flow, when both are positive.
FCF yield	10.9%	Free cash flow / market cap.
Earnings yield	6.5%	Net income / market cap (the inverse of P/E).
Shareholder yield	22.2%	(Dividends paid + share buybacks) / market cap.

What was GARTNER INC's revenue in fiscal 2025?

GARTNER INC reported revenue of $6.50B for fiscal 2025, 3.7% higher than the year before.

Was GARTNER INC profitable in fiscal 2025?

Yes. Net income was $729.2M, a net margin of 11.2%.

How much free cash flow did GARTNER INC generate in fiscal 2025?

Cash from operations of $1.29B minus capital expenditures of $115.1M left free cash flow of $1.18B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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