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DCF valuation

What is Gartner Inc worth?

With the base-case assumptions below, a discounted cash flow model on Gartner Inc's reported free cash flow gives $352.30 per share. The share price was $188.92 on November 10, 2026, 46% below that value.

Inputs from the filings

Free cash flow, fiscal 2025
$1.18B
Average free cash flow, last 5 years
$1.17B
Cash
$1.63B
balance sheet of September 30, 2026
Debt
$2.98B
balance sheet of September 30, 2026
Diluted shares, fiscal 2025
75,605,000
Revenue growth per year, last 5 years
9.6%

Three sets of assumptions

CaseGrowth yrs 1-5Growth yrs 6-10After year 10Discount rateValue per shareValue vs price
Bear4.5%3.5%2.0%10.0%$212.36+12%
Base9.5%6.0%2.5%9.0%$352.30+86%
Bull14.5%9.0%3.0%8.0%$631.25+234%

Sensitivity: base case value per share

Discount rate down the side, growth after year 10 across the top. Everything else as in the base case.

1.5%2.0%2.5%3.0%3.5%
7.0%$457.55$489.93$529.52$579.00$642.61
8.0%$378.81$399.81$424.63$454.42$490.82
9.0%$321.37$335.73$352.30$371.63$394.47
10.0%$277.68$287.89$299.47$312.69$327.95
11.0%$243.39$250.88$259.25$268.66$279.33

Where the presets come from

Base: years 1 to 5 grow at Gartner Inc's revenue growth rate over the last 5 fiscal years (9.6% a year), held between -5% and 15%. Years 6 to 10 grow halfway between that and the long-run rate of 2.5%. Future cash is discounted at 9% a year.

Bear: 5 points less growth, 2% long-run growth, 10% discount rate. Bull: 5 points more growth (at most 25%), 3% long-run growth, 8% discount rate.

Value per share = (present value of 10 years of free cash flow + present value of everything after + cash - debt) / diluted shares.

This is a model run on assumptions, not a recommendation or a price target. Small changes in the discount rate or growth move the result a lot, as the table above shows. Change them yourself in the calculator.

Adjust the assumptions

Move the sliders for growth, long-run growth and discount rate, or switch to average free cash flow, and see the value per share change.

Adjust the assumptions

Gartner Inc company page