회사 개요
Gartner, Inc. operates as a premier provider of business and technology insights designed to support organizational decision-making regarding mission-critical priorities across the United States, Canada, Europe, the Middle East, Africa, and international markets. The company functions within the Technology sector, specifically specializing in Information Technology Services, where it delivers essential intelligence through three distinct operational segments: Insights, Conferences, and Consulting. This global enterprise commands a substantial market capitalization of $10.67B and generates annual revenue of $6.50B, supported by a workforce of 20,244 employees. The combination of a $10.67B market cap and $6.50B in revenue indicates that Gartner holds a significant position within the specialized technology services landscape, reflecting strong market confidence in its ability to generate consistent cash flows and maintain operational scale across diverse geographic regions.
재무 건전성
The company reported a trailing twelve-month revenue of $6.50B and a corresponding net income of $729.23M, while EBITDA reached $1.31B, revealing a cost structure where operating expenses consume a significant portion of gross profit before taxes and interest. Specifically, the gap between the $6.50B revenue and $729.23M net income highlights an effective tax rate and operational overhead that results in a final profit margin of 11.2%, though the pre-tax profitability is bolstered by the $1.31B EBITDA figure. The business generated $922.79M in free cash flow, which provides substantial financial flexibility for capital allocation, debt repayment, or potential strategic acquisitions without relying on external financing. Profitability efficiency is evident in the margins, with a gross margin of 68.4% indicating high pricing power or low direct costs, an operating margin of 19.0% reflecting efficient management of overhead, and the aforementioned profit margin of 11.2% representing the final bottom-line return after all expenses. On the balance sheet, the firm holds $1.72B in cash against $3.35B in total debt, resulting in a debt-to-equity ratio of 1046.54% which suggests a highly leveraged capital structure relative to its equity base. Despite the high leverage, the current ratio stands at 1.00, indicating that the company's current assets are sufficient to cover its current liabilities, though with minimal cushion for short-term liquidity shocks. Management effectiveness is underscored by a return on equity of 86.9% and a return on assets of 8.9%, demonstrating an exceptionally high ability to generate shareholder value from the capital invested in the business.
밸류에이션 평가
Valuation multiples show a trailing P/E ratio of 15.34 and a forward P/E of 10.22, implying that the market expects earnings to grow significantly in the coming year to justify the lower forward multiple compared to the current earnings yield. The price-to-book ratio is elevated at 32.78, indicating that the stock trades at a substantial premium over its book value, which is typical for technology service firms with intangible assets and strong brand equity. Alternative valuation metrics such as the price-to-sales ratio of 1.64 and an EV/EBITDA of 9.20 provide additional context, suggesting the company is valued moderately relative to its revenue stream and enterprise cash generation capabilities. In terms of price range, the stock has traded between a 52-week low of $139.18 and a 52-week high of $451.73, meaning the current valuation sits well below the yearly peak but represents a recovery from the yearly trough. The beta of 1.04 indicates that the stock price volatility is slightly higher than the broader market, suggesting the company reacts with moderate sensitivity to general market fluctuations.
Growth & Income
Growth metrics display a revenue growth rate of 2.2% year-over-year alongside an earnings growth rate of -34.2% year-over-year, indicating that earnings are contracting at a much faster rate than revenue, which often points to one-time charges, restructuring costs, or margin compression affecting the bottom line more severely than top-line sales. As a non-dividend payer, the company reports a dividend yield of N/A and a payout ratio of 0.0%, meaning it does not distribute cash to shareholders but instead retains earnings to fund operations, research, and expansion initiatives. The absence of dividend payments combined with the high return on equity suggests a strategy focused on reinvesting capital internally to fuel long-term growth rather than providing immediate income to investors. Overall, the growth and income profile is characterized by stable revenue expansion coupled with significant earnings volatility and a strict policy of retaining all earnings for internal deployment rather than income distribution.