Gartner, Inc. IT

Information TechnologySoftware & IT ServicesUnited States of America

Last close 228.79 USD on Nov 1, 2026, −9.3% year to date

Quant rating

Quant rating A Rank 33 of 389 in Information Technology

Growth C 232 of 389
Valuation B 68 of 389
Quality A 29 of 389
Revisions B 140 of 389
Momentum B 100 of 389

Wall Street consensus Hold (2.75)Average target 201.92 USD −11.7%

Historical valuation

Multiples use consensus estimates for the next twelve months. The dashed line is the 5-year average.

Key data

Market cap: 14.4B
Enterprise value: 15.9B
52-week range: 124.85 – 256.81
3-year range: 124.85 – 551.80
Dividend yield: –
Beta (5 years): 0.96
Shares outstanding: 63.1M
Next earnings: Nov 3, 2026

About the company

Gartner, Inc. delivers actionable, objective business and technology insights. Its segments include Business and Technology Insights (Insights), Conferences, and Consulting. The Insights segment delivers independent, objective insight to leaders across an enterprise through subscription services that include on-demand access to published research content, data and benchmarks, and direct access to a network of research experts located around the globe. The Conferences segment is designed for information technology (IT) and business executives as well as decision-makers looking to adapt and evolve their organizations through disruption and uncertainty, navigate risks and prioritize investments. The Consulting segment serves chief information officers and other senior executives to optimize technology investments and drive business impact. It also provides solutions for a range of IT-related priorities, including IT cost optimization, digital transformation, and IT sourcing optimization.

Growth and profitability fiscal year ends December 31

Growth and profitability by fiscal year
	2025	2024	2023	2022	2021	5Y avg
Revenue (mil)	6,497	6,267	5,907	5,476	4,734	–
Revenue growth	3.7%	6.1%	7.9%	15.7%	15.5%	9.6%
EPS (basic, normalized)	13.17	14.09	11.33	11.27	9.22	–
EPS growth	−6.5%	24.4%	0.5%	22.2%	–	–
Gross margin	68.4%	67.7%	67.8%	69.1%	69.5%	68.5%
Net margin	11.2%	20.0%	14.9%	14.8%	16.8%	15.5%
ROE	86.9%	122.9%	194.3%	269.8%	108.6%	156.5%

Balance sheet, last quarter
Cash & short-term investments (mil)	1,489
Current ratio	0.88x
Long-term debt (mil)	2,979
Net debt (mil)	1,491
Total equity (mil)	−167
Net debt / equity	−8.91x
Net debt / EBITDA	0.93x

Estimates and valuation

Consensus estimates and implied multiples
	Sales (mil)			EBITDA (mil)			EPS
Fiscal year	Mean est.	Growth	EV/Sales	Mean est.	Growth	EV/EBITDA	Mean est.	Growth	P/E
2025 actual	6,497	+3.7%	2.5x	1,611	+5.1%	9.9x	13.17	−6.5%	17.4x
2026	6,414	−1.3%	2.5x	1,601	−0.6%	10.0x	14.45	+9.7%	15.8x
2027	6,667	+3.9%	2.4x	1,669	+4.2%	9.6x	16.39	+13.4%	14.0x
2028	6,967	+4.5%	2.3x	1,759	+5.4%	9.1x	18.69	+14.1%	12.2x

Estimate revisions

Change in consensus estimates over 1, 3 and 6 months
	Sales				EPS
Fiscal year	Estimate (mil)	1M	3M	6M	Estimate	1M	3M	6M
2026	6,414	0.0%	−0.3%	−1.6%	14.45	0.0%	+5.7%	+9.8%
2027	6,667	0.0%	−0.6%	−2.5%	16.39	+0.6%	+7.2%	+11.5%
2028	6,967	0.0%	−1.6%	−3.7%	18.69	−0.7%	+6.4%	+11.6%

Earnings surprises EPS beat in 4 of the last 4 quarters

Reported results versus consensus, last 10 fiscal quarters
Quarter ended	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
Sales reported (mil)	1,473	1,595	1,484	1,715	1,534	1,686	1,524	1,753	1,511	1,676
Sales mean (mil)	1,473	1,585	1,475	1,690	1,535	1,674	1,521	1,749	1,519	1,650
Surprise	0.0%	+0.7%	+0.6%	+1.5%	0.0%	+0.7%	+0.2%	+0.2%	−0.6%	+1.6%
EPS reported	2.93	3.22	2.50	5.45	2.98	3.53	2.76	3.94	3.32	4.37
EPS mean	2.53	3.02	2.39	3.25	2.72	3.30	2.43	3.51	2.91	3.75
Surprise	+15.8%	+6.5%	+4.8%	+67.6%	+9.7%	+6.8%	+13.7%	+12.4%	+14.0%	+16.5%

Peer comparison Software & IT Services

Peers in the same industry group, by market capitalization
Company	Market cap	Net debt/EBITDA	Net margin	P/B	FY1 P/E	FY2 P/E	FY1 EV/EBITDA	FY2 EV/EBITDA
IT Gartner, Inc.	14.4B	0.93x	11.2%	−88.05x	15.8x	14.0x	10.0x	9.6x
MSFT Microsoft Corporation	3.88T	0.22x	40.3%	8.24x	26.2x	21.9x	16.2x	13.1x
ORCL Oracle Corporation	396.1B	2.81x	26.6%	5.92x	16.0x	11.9x	9.4x	6.6x
IBM International Business Machines Corp	243.7B	2.78x	17.4%	6.86x	20.8x	19.4x	14.6x	13.7x
CRM Salesforce, Inc.	188.6B	1.57x	18.0%	4.91x	13.7x	14.3x	11.1x	10.3x
ACN Accenture PLC	152.6B	−0.07x	11.3%	4.87x	17.6x	16.2x	10.1x	9.6x
Mean		1.37x	20.8%	−9.54x	18.4x	16.3x	11.9x	10.5x
Median		1.25x	17.7%	5.42x	16.8x	15.3x	10.6x	9.9x

Technical analysis

1M+23.2%
3M+46.8%
1Y−9.5%
3Y−29.8%

Financial statements in millions of USD

Income statement in millions of USD, fiscal years

Income statement, Gartner, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Total revenue	6,497	6,267	5,907	5,476	4,734	4,099
Cost of revenue	2,054	2,023	1,903	1,694	1,444	1,345
Gross profit	4,444	4,244	4,004	3,782	3,290	2,754
Selling, general & administrative expenses	3,063	2,874	2,681	2,427	2,156	2,039
Research & development	–	–	–	–	–	–
Depreciation/amortization	200	202	191	192	212	219
Interest expense (income), operating	–	–	–	–	–	–
Unusual expense (income)	155	11.9	−105	63.1	6.1	51.1
Other operating expenses	0	0	0	0	0	0
Operating income	1,026	1,156	1,237	1,100	916	445
Net interest income (expense)	−57.5	−70.0	−94.2	−121	−96.4	−114
Gain (loss) on sale of assets	–	–	–	–	–	–
Other non-operating income (expense)	−0.1	301	4.5	48.4	151	−5.7
Net income before taxes	968	1,387	1,147	1,027	970	326
Provision for taxes	239	134	265	219	176	59.4
Minority interest	–	–	–	–	–	–
Equity in affiliates	–	–	–	–	–	–
U.S. GAAP adjustment	–	–	–	–	–	–
Net income before extraordinary items	729	1,254	882	808	794	267
Extraordinary items	–	–	–	–	–	–
Net income	729	1,254	882	808	794	267
EBIT, normalized	1,181	1,168	1,131	1,163	922	496
EBITDA, normalized	1,381	1,370	1,323	1,355	1,134	715
Basic EPS, normalized	13.17	14.09	11.33	11.27	9.22	–

Balance sheet in millions of USD, fiscal years

Balance sheet, Gartner, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Assets
Cash & short-term investments	1,723	1,933	1,319	698	756	713
Receivables	1,725	1,727	1,630	1,578	1,385	1,256
Total inventory	–	–	–	–	–	–
Prepaid expenses	112	122	97.8	98.0	97.8	94.8
Other current assets	507	415	381	412	381	260
Total current assets	4,066	4,197	3,428	2,786	2,620	2,323
Property, plant & equipment	428	500	630	701	822	984
Goodwill	2,741	2,930	2,937	2,930	2,951	2,946
Intangibles	336	410	502	585	714	807
Long-term investments	–	–	–	–	–	–
Note receivable	–	–	–	–	–	–
Other long-term assets	514	498	339	298	309	256
Total assets	8,085	8,535	7,836	7,300	7,416	7,316
Liabilities
Accounts payable	49.8	55.8	63.1	83.2	49.3	38.6
Payable/accrued	–	–	–	–	–	–
Accrued expenses	956	862	766	744	817	695
Short-term debt	0	0	0	0	0	0
Current portion of long-term debt	5.0	0	9.6	7.8	5.9	20.5
Other current liabilities	3,061	3,051	2,939	2,762	2,507	2,193
Total current liabilities	4,072	3,969	3,778	3,598	3,379	2,947
Long-term debt	2,977	2,460	2,449	2,454	2,457	1,958
Minority interest	–	–	–	–	–	–
Other liabilities	717	747	929	1,021	1,210	1,320
Total liabilities	7,765	7,176	7,155	7,072	7,045	6,226
Shareholders' equity
Preferred stock	0	0	–	0	0	0
Common stock	0.1	0.1	0.1	0.1	0.1	0.1
Additional paid-in capital	2,679	2,497	2,320	2,180	2,075	1,969
Retained earnings (accumulated deficit)	6,722	5,993	4,739	3,857	3,049	2,255
Treasury stock	−9,040	−7,043	−6,303	−5,707	−4,672	−3,035
Other equity	−41.0	−88.3	−76.3	−102	−81.4	−99.2
Total equity	320	1,359	681	228	371	1,090
Total liabilities & shareholders' equity	8,085	8,535	7,836	7,300	7,416	7,316

Cash flow statement in millions of USD, fiscal years

Cash flow statement, Gartner, Inc., fiscal years, most recent first
	2025	2024	2023	2022	2021	2020
Operating activities
Net income	729	1,254	882	808	794	267
Depreciation, depletion & amortization	200	202	191	192	212	219
Deferred taxes	0.8	−162	−64.2	−30.7	−41.6	−53.2
Non-cash items	379	232	85.8	167	207	206
Changes in working capital	−18.6	−41.2	60.6	−34.5	141	265
Cash from operations	1,290	1,485	1,156	1,101	1,312	903
Investing activities
Capital expenditures	−115	−102	−103	−108	−59.8	−83.9
Other investing cash flows	0	−2.0	157	−9.5	−20.6	0
Cash from investing	−115	−104	54.2	−118	−80.5	−83.9
Financing activities
Financing cash flow items	−6.5	−3.0	0	0	−7.3	−56.5
Cash dividends paid	–	–	–	–	–	–
Issuance (retirement) of debt, net	–	–	–	–	–	–
Other financing cash flows	−1,433	−707	−589	−1,027	−1,150	−360
Cash from financing	−1,440	−710	−589	−1,027	−1,158	−416
Foreign exchange effects	53.9	−57.5	0	−18.4	−26.4	28.6
Net change in cash	−211	614	621	−62.0	48.0	432
Free cash flow	1,175	1,383	1,053	993	1,253	819

Disclaimer

The financial data presented in this report is delayed and obtained from sources QDD Research believes to be reliable, including stock exchanges, SEDAR, and EDGAR. However, no representation or warranty is made as to the accuracy, completeness, or timeliness of the information. QDD Research accepts no liability for any errors, omissions, or financial losses arising from the use of this data.

This report is generated using a fully systematic and quantitative approach. All factor scores and the overall quant rating (ranging from D to A+) are derived from algorithmic models and are based solely on objective financial metrics. These scores are intended for informational purposes only and should not be interpreted as investment advice or a recommendation to buy, sell, or hold any securities.

QDD Research is not a registered investment advisor or broker-dealer and does not provide personalized financial advice. The content is not tailored to the specific investment goals, financial situation, or risk profile of any individual investor. We strongly encourage readers to consult with a licensed broker or investment advisor before making any investment decisions based on the information contained in this report.

Live quote provided by TradingView. Report data updated Nov 1, 2026 after market close.