Gartner
IT · NYSEServices-Management Services · Fiscal year ends Dec 31
Gartner reported revenue of $6.5B in the fiscal year ended Dec 2025, up 3.7% from the year before. Operating income was $1B, an operating margin of 15.8%, and net income was $729M. Net debt was $1.3B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue | $4.7B | $5.5B | $5.9B | $6.3B | $6.5B |
| Cost of revenue | $1.4B | $1.7B | $1.9B | $2B | $2.1B |
| Gross profit | $3.3B | $3.8B | $4B | $4.3B | $4.5B |
| Selling, general & admin | $2.2B | $2.5B | $2.7B | $2.9B | $3.1B |
| Operating income | $916M | $1.1B | $1.2B | $1.2B | $1B |
| Interest expense | $119M | $126M | $133M | $131M | $125M |
| Pre-tax income | $970M | $1B | $1.1B | $1.4B | $968M |
| Income tax | $176M | $219M | $265M | $134M | $239M |
| Net income | $794M | $808M | $882M | $1.3B | $729M |
| Diluted EPS | 9.21 | 9.96 | 11.08 | 16.00 | 9.65 |
| Diluted shares | 86M | 81M | 80M | 78M | 76M |
Balance sheet
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Cash & equivalents | $756M | $698M | $1.3B | $1.9B | $1.7B |
| Receivables | $1.4B | $1.6B | $1.6B | $1.7B | $1.7B |
| Current assets | $2.6B | $2.8B | $3.4B | $4.2B | $4.1B |
| Net PP&E | $274M | $265M | $263M | $243M | $214M |
| Goodwill | $3B | $2.9B | $2.9B | $2.9B | $2.7B |
| Total assets | $7.4B | $7.3B | $7.8B | $8.5B | $8.1B |
| Payables | $49M | $83M | $63M | $56M | $50M |
| Deferred revenue | $2.2B | $2.4B | $2.6B | $2.8B | $2.8B |
| Current liabilities | $3.4B | $3.6B | $3.8B | $4B | $4.1B |
| Short-term debt | $6M | $8M | $10M | $0 | $5M |
| Long-term debt | $2.5B | $2.5B | $2.4B | $2.5B | $3B |
| Total liabilities | $7B | $7.1B | $7.2B | $7.2B | $7.8B |
| Shareholders' equity | $371M | $228M | $681M | $1.4B | $320M |
| Backlog (remaining obligations) | $4.4B | $5.2B | $5.6B | $6.4B | $6.4B |
Cash flow
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Operating cash flow | $1.3B | $1.1B | $1.2B | $1.5B | $1.3B |
| Depreciation & amortisation | $212M | $192M | $191M | $202M | $200M |
| Stock-based compensation | $99M | $91M | $130M | $155M | $156M |
| Acquisitions | $23M | $10M | $4M | $2M | $0 |
| Share buybacks | $1.7B | $1B | $606M | $735M | $2B |
Key ratios
| Fiscal year | Dec 2021 | Dec 2022 | Dec 2023 | Dec 2024 | Dec 2025 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 15.7% | 7.9% | 6.1% | 3.7% |
| Operating income growth (YoY) | – | 20.1% | 12.4% | −6.5% | −11.3% |
| EPS growth (YoY) | – | 8.1% | 11.2% | 44.4% | −39.7% |
| Gross margin | 69.5% | 69.7% | 68.3% | 68.3% | 68.8% |
| Operating margin | 19.3% | 20.1% | 20.9% | 18.4% | 15.8% |
| Net margin | 16.8% | 14.8% | 14.9% | 20.0% | 11.2% |
| Return on equityBlank when equity is negative | 213.9% | 354.6% | 129.7% | 92.2% | 228.0% |
| ROCEEBIT ÷ (assets − current liabilities) | 22.7% | 29.7% | 30.5% | 25.3% | 25.6% |
| Cash conversion (CFO ÷ net income) | 1.65x | 1.36x | 1.31x | 1.18x | 1.77x |
| Receivable days | 105 | 104 | 99 | 99 | 95 |
| Payable days | 12 | 18 | 12 | 10 | 9 |
| Interest cover | 7.73x | 8.72x | 9.32x | 8.82x | 8.19x |
| Debt ÷ equity | 6.64x | 10.8x | 3.61x | 1.81x | 9.32x |
| Net debtDebt − cash & equivalents; excludes investments; negative = net cash | $1.7B | $1.8B | $1.1B | $527M | $1.3B |
| Current ratio | 0.78x | 0.77x | 0.91x | 1.06x | 1.00x |
Recent filings
Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.