Gartner Inc. (IT) intrinsic value & 10-year financials
Gartner Inc. (IT) has a Graham intrinsic value of $320.53 per share. At $205.35 on Oct 17, 2026, the stock trades 36% below that value. Over the last 10 fiscal years revenue grew 11.5% a year to $6.5B, with an average return on invested capital of 27.0%.
- Graham intrinsic value
- $320.53
- Share price (Oct 17, 2026)
- $205.35
- Price vs Graham value
- 36% below
- Market cap
- $15.5B
- Revenue (FY2025)
- $6.5B
- Revenue growth (10-yr CAGR)
- 11.5%
- ROIC (10-yr avg)
- 27.0%
- Free cash flow (FY2025)
- —
IT 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $6.5B | $729.2M | $9.65 | — | 15.8% | 37.9% |
| FY2024 | $6.3B | $1.3B | $16.00 | — | 18.4% | 45.8% |
| FY2023 | $5.9B | $882.5M | $11.08 | — | 20.9% | 38.7% |
| FY2022 | $5.5B | $807.8M | $9.96 | — | 20.1% | 32.3% |
| FY2021 | $4.7B | $793.6M | $9.21 | — | 19.3% | 25.3% |
| FY2020 | $4.1B | $266.7M | $2.96 | — | 12.0% | 11.8% |
| FY2019 | $4.2B | $233.3M | $2.56 | — | 8.7% | 9.2% |
| FY2018 | $4.0B | $122.5M | $1.33 | — | 6.5% | 5.0% |
| FY2017 | $3.3B | $3.3M | $0.04 | — | -0.2% | -0.2% |
| FY2016 | $2.4B | $193.6M | $2.31 | — | 12.5% | 64.2% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Gartner is a consistent compounder, expanding top-line revenue at 11.5% annually over the past decade.
Gartner has earned high returns on invested capital, averaging 27.0% ROIC over the available history. High ROIC is consistent with a durable franchise, but it is not by itself proof of an economic moat.
Over the decade, Gartner shows that the company has leveraged its balance sheet to sustain operations.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Gartner is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $320.53 per share.