Gartner, Inc. (IT) Valuation

Valuation

Model-based estimates, not advice. The DCF is the discounted-cash-flow value per share; compare it with the price, not as a target.

DCF fair value

+46.3%

$346.81

vs $237.00 price

Levered DCF

$383.07

After debt service

Piotroski score

7 / 9

Strong

Altman Z-score

3.92

Safe zone

Rating

Overall 3 / 5

Ratios by fiscal year

Margins and yields are shares of revenue, equity or price; multiples are ×.

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
P/E	26.06×	30.05×	40.39×	33.35×	35.83×	53.58×	59.27×	94.7×
P/B	56.78×	27.73×	52.36×	118.31×	76.61×	13.12×	14.75×	13.65×
P/S	2.8×	6.01×	6.03×	4.92×	6×	3.49×	3.26×	2.92×
EV / EBITDA	16.32×	22.46×	25.42×	21.86×	23.77×	24.88×	28.21×	24.38×
Gross margin	67.7%	67.7%	67.8%	69.1%	69.5%	67.2%	63.5%	63.1%
Operating margin	15.8%	18.4%	20.9%	20.1%	19.3%	12.0%	8.7%	6.5%
Net margin	11.2%	20.0%	14.9%	14.8%	16.8%	6.5%	5.5%	3.1%
Current ratio	1×	1.06×	0.91×	0.77×	0.78×	0.79×	0.71×	0.69×
Debt / equity	11.31×	2.13×	4.51×	13.86×	8.76×	2.61×	3.29×	2.68×
Interest coverage	9.15×	8.82×	9.32×	8.72×	7.73×	4.24×	3.6×	2.05×
Dividend yield	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%
Payout ratio	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%	0.0%

Key metrics by fiscal year

Metric	FY2025	FY2024	FY2023	FY2022	FY2021	FY2020	FY2019	FY2018
Return on equity	227.9%	92.2%	129.7%	354.6%	213.9%	24.5%	24.9%	14.4%
Return on invested capital	18.8%	22.4%	22.8%	22.7%	18.1%	9.0%	6.9%	4.7%
Return on assets	9.0%	14.7%	11.3%	11.1%	10.7%	3.6%	3.3%	2.0%
Free cash flow yield	6.5%	3.7%	3.0%	3.7%	4.4%	5.7%	3.0%	3.0%
Earnings yield	4.0%	3.3%	2.5%	3.0%	2.8%	1.9%	1.7%	1.1%
Enterprise value	$20.1B	$38.7B	$37.4B	$29.4B	$30.9B	$16.4B	$16.7B	$13.7B
Net debt / EBITDA	1.54×	0.56×	1.19×	1.83×	1.92×	3.22×	4.76×	3.77×
Cash conversion cycle (days)	86	89	87	86	93	100	106	106