Information Technology · IT Consulting & Other Services · US stock · price as of 22 Oct 2026
Key indicators
Price
$234.44
52-week range
$124.25 – $257.69
Market cap
$15.6B
P/E (trailing)
21.7×
EV / EBITDA
13.1×
Free-cash-flow yield
8.9%
Dividend yield
–
Revenue (last 12 months)
$6.5B
Revenue growth (3y a year)
5.9%
Operating margin
17.3%
Return on invested capital
50.1%
Net debt / EBITDA
1.4×
Fair value
Fair value (average of valid models)$279.95 middle half of models $269 – $298
Versus priceUndervalued+19% to fair value
P/E multiple
$251.31
P/S multiple
$325.95
EV/EBITDA multiple
$274.68
EV/EBIT multiple
$316.84
EV/revenue multiple
$300.32
10-year DCF, EBITDA exit
$294.22
5-year DCF, EBITDA exit
$289.09
10-year DCF, revenue exit
$297.18
5-year DCF, revenue exit
$294.55
10-year DCF, growth exit
$229.61
5-year DCF, growth exit
$209.76
Earnings power value
$275.85
Model uncertainty
Low
X-Ray Score
59/ 100 · Medium confidence · ahead of 75% of sector peers
Valuation86
Growth28
Profitability74
Financial health36
Dividends–
Five-year price chart navy: price · brown: 200-day average · blue band: fair value range
Executive summary
Gartner is a research and advisory company that sells insights, benchmarks and advice to executives in technology, supply chain, finance, marketing and other functions. Clients pay for subscriptions to its research and for access to analysts. The company also runs conferences and offers consulting services. Most revenue comes from recurring research subscriptions, which depend on clients renewing their contracts, while events and consulting add further income.
Over the latest twelve months the company reported revenue of $6.5 billion, and annual revenue rose by 5.9% on average across three years. Profitability at the operating level stands at 17.3%, and return on invested capital came to 50%. The company carries net debt of 1.4 times its EBITDA. No dividend is paid.
StocksXray gives Gartner Inc an X-Ray Score of 59 out of 100 (medium confidence), ahead of 75% of the S&P 500 stocks in its sector. Its strongest lens is valuation (86) and its weakest is growth (28).
Our fair value (the average of the valid models) is $279.95 (range $268.84 to $297.97). At $234.44 the stock trades 16% below that value, so the label is "Undervalued" with low model uncertainty. Fair value is a range, not a price target.
XStocksXray
Gartner Inc (IT)
Valuation history multiples at each fiscal year-end price; the last column uses today's price and the last twelve months
FY2021
FY2022
FY2023
FY2024
FY2025
Now
Price
$334.32
$336.14
$451.11
$484.47
$252.28
$234.44
Market cap
$28.8B
$27.2B
$35.9B
$38.0B
$19.1B
$15.6B
P/E
36.3×
33.7×
40.7×
30.3×
26.1×
21.7×
EV / revenue
6.4×
5.3×
6.3×
6.1×
3.1×
2.6×
EV / EBITDA
27.1×
22.5×
26.0×
28.3×
16.6×
13.1×
Price / free cash flow
22.0×
24.7×
31.1×
25.6×
14.8×
11.3×
Free-cash-flow yield
4.6%
4.0%
3.2%
3.9%
6.8%
8.9%
Price / book
77.6×
119.6×
52.8×
27.9×
59.6×
–
Dividend yield
–
–
–
–
–
–
Fundamentals checklist ● 5 Good · ● 6 Average · ● 3 Bad · each check graded against the sector
Cash quality
Earnings backed by cash−8.4%Good
Risk models
Altman Z score3.9×Average
Piotroski F-Score6 of 9Average
Growth
EPS growth (3y)−1.0%Average
Revenue growth (3y)5.9%Average
Growth consistency80%Bad
Balance sheet
Current ratio0.9×Bad
Net debt / EBITDA1.4×Average
Interest cover7.8×Bad
Valuation
Fair value vs price1.2×Good
EBIT / EV yield6.4%Good
Profitability
Return on invested capital50.1%Good
Operating margin17.3%Average
Gross profitability63.0%Good
Red flags
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
Negative equity — Book equity is negative
XStocksXray
Gartner Inc (IT)
Financials US$ millions, from SEC filings; last column is the last twelve months
Income statement
FY21
FY22
FY23
FY24
FY25
LTM
Revenue
4,734
5,476
5,907
6,267
6,497
6,464
Gross profit
3,290
3,815
4,035
4,278
4,468
4,530
Operating income
916
1,100
1,237
1,156
1,026
1,115
Net income
794
808
882
1,254
729
775
Diluted EPS ($)
9.21
9.96
11.08
16.00
9.65
10.80
Free cash flow
1,312
1,101
1,156
1,485
1,290
1,383
Gross margin
69.5%
69.7%
68.3%
68.3%
68.8%
70.1%
Operating margin
19.3%
20.1%
20.9%
18.4%
15.8%
17.3%
Net margin
16.8%
14.8%
14.9%
20.0%
11.2%
12.0%
Balance sheet
FY21
FY22
FY23
FY24
FY25
LTM
Total assets
7,416
7,300
7,836
8,535
8,085
7,194
Cash
756
698
1,319
1,933
1,723
1,489
Total debt
2,463
2,461
2,458
2,460
2,982
2,979
Equity
371
228
681
1,359
320
-167
Dividend per share ($)
–
–
–
–
–
–
Revenue and net income US$ billions: navy revenue, teal net income
Every number comes from SEC filings, end-of-day prices and the StocksXray models described on the methodology page. The X-Ray Score ranks each metric against the company's own sector. Fair value is the average of up to 15 valuation models, most of them anchored to the company's own multiples, so it stays near the price and should be read as a range, not a point. Analyst ratings, price targets and earnings-call summaries are not part of this report. Educational research, not financial advice; read the disclaimer.
