Latest Ratios: P/E Ratio 14.6x · EV/EBITDA 9.2x · ROE 86.9%. (1996–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $9.4B | $18.2B | $38.0B | $35.9B | $27.2B | $28.8B | $14.4B | $14.0B | $11.8B | $11.1B | $8.5B |
| Enterprise Value | $11.3B | $20.1B | $38.9B | $37.7B | $29.7B | $31.3B | $16.6B | $16.8B | $13.9B | $13.8B | $8.7B |
| P/E Ratio → | 14.59 | 26.14 | 30.28 | 40.71 | 33.75 | 36.30 | 54.12 | 60.20 | 96.12 | 3078.75 | 43.75 |
| P/S Ratio | 1.45 | 2.80 | 6.06 | 6.09 | 4.98 | 6.09 | 3.52 | 3.30 | 2.96 | 3.34 | 3.47 |
| P/B Ratio | 31.73 | 56.86 | 27.92 | 52.81 | 119.62 | 77.64 | 13.22 | 14.94 | 13.84 | 11.24 | 139.16 |
| P/FCF | 8.02 | 15.48 | 27.44 | 34.15 | 27.43 | 23.00 | 17.60 | 33.66 | 34.21 | 76.92 | 26.83 |
| P/OCF | 7.31 | 14.10 | 25.56 | 31.10 | 24.74 | 21.95 | 15.96 | 24.79 | 25.00 | 43.45 | 23.17 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 3.09 | 6.21 | 6.38 | 5.43 | 6.61 | 4.04 | 3.96 | 3.50 | 4.17 | 3.56 |
| EV / EBITDA | 9.24 | 16.38 | 28.65 | 26.40 | 22.99 | 27.74 | 23.34 | 28.92 | 26.97 | 59.00 | 23.68 |
| EV / EBIT | 11.04 | 19.53 | 25.63 | 29.45 | 25.76 | 28.76 | 37.46 | 44.46 | 45.14 | 106135.20 | 27.51 |
| EV / FCF | — | 17.09 | 28.14 | 35.81 | 29.91 | 24.99 | 20.20 | 40.42 | 40.37 | 95.98 | 27.53 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 67.7% | 67.7% | 67.7% | 67.8% | 69.1% | 69.5% | 67.2% | 63.5% | 63.1% | 60.1% | 61.3% |
| Operating Margin | 15.8% | 15.8% | 18.4% | 20.9% | 20.1% | 19.3% | 12.0% | 8.7% | 6.5% | -0.2% | 12.5% |
| Net Profit Margin | 11.2% | 11.2% | 20.0% | 14.9% | 14.8% | 16.8% | 6.5% | 5.5% | 3.1% | 0.1% | 7.9% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 86.9% | 86.9% | 122.9% | 194.3% | 269.8% | 108.6% | 26.3% | 26.1% | 13.4% | 0.6% | 318.0% |
| ROA | 8.8% | 8.8% | 15.3% | 11.7% | 11.0% | 10.8% | 3.7% | 3.5% | 1.8% | 0.1% | 8.5% |
| ROIC | 33.9% | 33.9% | 36.5% | 36.2% | 29.7% | 22.6% | 10.5% | 8.3% | 5.8% | -0.2% | 77.0% |
| ROCE | 23.9% | 23.9% | 26.8% | 31.9% | 28.4% | 21.8% | 11.3% | 9.4% | 6.5% | -0.2% | 34.7% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 11.31 | 11.31 | 2.13 | 4.51 | 13.86 | 8.76 | 2.61 | 3.29 | 2.68 | 3.33 | 11.41 |
| Debt / EBITDA | 2.95 | 2.95 | 2.13 | 2.15 | 2.44 | 2.88 | 4.01 | 5.32 | 4.43 | 14.02 | 1.89 |
| Net Debt / Equity | — | 5.93 | 0.71 | 2.57 | 10.80 | 6.71 | 1.95 | 3.00 | 2.50 | 2.79 | 3.62 |
| Net Debt / EBITDA | 1.55 | 1.55 | 0.71 | 1.23 | 1.90 | 2.21 | 3.00 | 4.83 | 4.12 | 11.72 | 0.60 |
| Debt / FCF | — | 1.61 | 0.70 | 1.66 | 2.48 | 1.99 | 2.60 | 6.75 | 6.17 | 19.06 | 0.70 |
| Interest Coverage | 9.18 | 9.18 | 11.59 | 9.64 | 9.14 | 9.18 | 3.82 | 3.68 | 2.43 | 0.00 | 11.46 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.00 | 1.00 | 1.06 | 0.91 | 0.77 | 0.78 | 0.79 | 0.71 | 0.69 | 0.92 | 0.92 |
| Quick Ratio | 1.00 | 1.00 | 1.06 | 0.91 | 0.77 | 0.78 | 0.79 | 0.71 | 0.69 | 0.92 | 0.92 |
| Cash Ratio | 0.42 | 0.42 | 0.49 | 0.35 | 0.19 | 0.22 | 0.24 | 0.10 | 0.06 | 0.19 | 0.32 |
| Asset Turnover | — | 0.80 | 0.73 | 0.75 | 0.75 | 0.64 | 0.56 | 0.59 | 0.64 | 0.45 | 1.03 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 94.63 | 98.78 | 98.94 | 103.77 | 105.26 | 110.54 | 114.01 | 115.24 | 129.71 | 96.01 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | — | — | — | — |
| Payout Ratio | — | — | — | — | — | — | — | — | — | — | — |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 6.9% | 3.8% | 3.3% | 2.5% | 3.0% | 2.8% | 1.8% | 1.7% | 1.0% | 0.0% | 2.3% |
| FCF Yield | 12.5% | 6.5% | 3.6% | 2.9% | 3.6% | 4.3% | 5.7% | 3.0% | 2.9% | 1.3% | 3.7% |
| Buyback Yield | 21.1% | 10.9% | 1.9% | 1.7% | 3.8% | 5.7% | 1.2% | 1.4% | 2.2% | 0.4% | 0.7% |
| Total Shareholder Yield | 21.1% | 10.9% | 1.9% | 1.7% | 3.8% | 5.7% | 1.2% | 1.4% | 2.2% | 0.4% | 0.7% |
| Shares Outstanding | — | $72M | $78M | $80M | $81M | $86M | $90M | $91M | $92M | $90M | $84M |
Excessive debt-to-equity leverage
Based on reported figures, Gartner's forward P/E of 9.84 suggests the market is pricing in significant growth deceleration, a valuation discount that contrasts sharply with the premium multiples commanded by information services peers like S&P Global and Moody's, which trade at significantly higher earnings multiples.
The current PEG ratio of 0.52 indicates that the market may be undervaluing the company's earnings potential relative to its historical growth, or alternatively, that investors are heavily discounting the sustainability of its subscription model. This valuation gap warrants further investigation into whether the market views the firm as a high-quality data provider or a cyclical consulting entity.
According to recent financial statements, the company's ROIC has fluctuated between 3.2% and 13.2% over the last ten quarters, a trend that appears heavily influenced by the aggressive reduction of the equity base through persistent share repurchases rather than purely organic improvements in operational capital efficiency.
While the ROE spike to 116% in 2026Q1 is mathematically driven by the erosion of book equity, it does not reflect a genuine improvement in the firm's ability to generate returns on invested capital. Investors should monitor the underlying ROIC trend, which suggests a more modest and stable performance that is currently obscured by the company's capital allocation strategy.
As reported in quarterly filings, the company's asset turnover has remained stagnant near 0.20, reflecting a capital-intensive service model where the ability to convert research assets into revenue is constrained by the high fixed costs associated with maintaining a specialized global analyst workforce.
The variability in DSO, which reached 93 days in 2026Q1, suggests potential friction in the collection cycle that may be exacerbated by the firm's reliance on large enterprise contracts. This lack of improvement in working capital efficiency indicates that the company has limited leverage over its customer payment terms in the current environment.
Based on the provided balance sheet data, the debt-to-equity ratio has escalated to 51.41 in 2026Q1, a level that appears increasingly unsustainable and suggests that the company's reliance on debt to fund share repurchases has significantly diminished its financial flexibility compared to historical norms.
While interest coverage remains adequate at 15.14x, the sheer magnitude of the debt load relative to the shrinking equity base creates a vulnerable balance sheet profile. This leverage profile may limit the company's ability to navigate future economic downturns or pursue strategic acquisitions without further straining its credit position.
As reported in financial statements, the P/B ratio of 30.42 is a misleading metric for this business model, as it fails to account for the massive erosion of book equity caused by aggressive share repurchases rather than a fundamental decline in the company's underlying enterprise value.
Analysts should prioritize EV/EBITDA or P/FCF over P/B, as the latter is severely distorted by the company's capital allocation policy. Relying on book value for a service-oriented firm with significant intangible assets and a history of buybacks obscures the true economic health of the business.
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Quick answers to the most common questions about buying IT stock.
Gartner, Inc.'s current P/E ratio is 14.6x. The historical average is 45.1x.
Gartner, Inc.'s current EV/EBITDA is 9.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 20.8x.
Gartner, Inc.'s return on equity (ROE) is 86.9%. This is above the typical threshold of 15-20% considered good for most companies. The historical average is 69.3%.
Based on historical data, Gartner, Inc. is trading at a P/E of 14.6x. Compare with industry peers and growth rates for a complete picture.
Gartner, Inc. has 67.7% gross margin and 15.8% operating margin. Operating margin between 10-20% is typical for established companies.
Gartner, Inc.'s Debt/EBITDA ratio is 3.0x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.