NOW ServiceNow, Inc. Common Stock
$129.67
Price · Aug 21, 2026
Fundamentals as of Jul 23, 2026
52W Range
$81–$195
43% of range
Analyst Rating
BUY
55 analysts
Price Target
$142
+10% upside
P/E (TTM)
77.6
ROE
14.6%
Net Profit Margin
13.2%
About ServiceNow, Inc. Common Stock Company overview from Wikipedia
ServiceNow, Inc. is an American software company that supplies cloud computing platforms for the creation and management of automated business workflows. The company was founded in Santa Clara, California, United States, in 2003 by Fred Luddy. It is listed on the New York Stock Exchange and is a constituent of the S&P 100 and S&P 500 indices.
Read more
ServiceNow, Inc. is an American software company that supplies cloud computing platforms for the creation and management of automated business workflows. The company was founded in Santa Clara, California, United States, in 2003 by Fred Luddy. It is listed on the New York Stock Exchange and is a constituent of the S&P 100 and S&P 500 indices.
History
ServiceNow was founded as Glidesoft, Inc. in 2003 by Fred Luddy, and later incorporated in California in 2004. Luddy had previously served as chief technology officer (CTO) for Peregrine Systems, an enterprise software company based in San Diego, until 2002. In founding the company, Luddy intended to provide the same services previously available from the then defunct Peregrine Systems.
Luddy was the only employee until mid-2005 when US$2.5 million in venture financing from JMI Equity allowed Glidesoft to hire five additional people. In 2006, the company changed its name to Service-Now.com. In 2007, ServiceNow reported an annual revenue of US$13 million and opened its first Silicon Valley office, in San Jose. 2007 was also the first year that the company "went cash flow positive".
As of January 2011, the company had 275 employees in its San Diego, Chicago, New York, Atlanta, London and Frankfurt offices, as well as a partnership with Accenture who had more than 100 ServiceNow consultants. At this time, the company was sometimes known as "Service-now". By April 2011, the company had named Frank Slootman as chief executive officer.
In June 2012, ServiceNow became a publicly traded company following a US$210 million IPO. Shortly thereafter, the company relocated its headquarters from San Diego to Santa Clara, California. It was taken public by Morgan Stanley one month after it took Facebook public.
In October 2019, the company announced that CEO John Donahoe would be succeeded by Bill McDermott, formerly CEO of SAP SE at the end of the calendar year. In January 2020, Bill appointed Gina Mastantuono as Chief Financial Officer. Under her leadership, ServiceNow crossed $10 billion in revenue in 2024 and grew its subscription revenue at a 26% compound annual growth rate from 2020 to 2024, earning the company a spot on the Fortune 500 list. Mastantuono was named President while continuing as CFO in 2025.
In May 2023, Nvidia announced a partnership with ServiceNow to include AI services in help desk software for corporations. As of December 2023, the number of employees in ServiceNow was estimated to be around 23,000.
In 2024, the platform was reported to have leaked potentially highly confidential data from the "knowledge base" module of over a thousand corporate users due to a misconfiguration of its access control settings. In October 2024, the company announced its plans to invest $1.5 billion in the UK. Its data centers there are located in the cities of London and Newport, Wales. In September 2025, ServiceNow announced that it was opening a new office in West Palm Beach, Florida. In January 2026, the company announced partnerships with Anthropic and OpenAI to add those companies' large language models into its AI platform to add agentic AI features.
Acquisitions
July 2013: Mirror42, an Amsterdam-based software developer
July 2014: Neebula Systems, an Israeli cloud computing tools company
February 2015: Intréis
June 2016: Brightpoint Security
January 2017: Machine learning startup DxContinuum
October 2017: San Diego human-centered design firm Telepathy; the acquisition doubled the size of ServiceNow's internal design agency, the Design Experience Organization
October 2017: SkyGiraffe, an enterprise mobility company backed by Microsoft Ventures. SkyGiraffe formed the basis for ServiceNow's Mobile Platform, released in March 2019.
April 2018: VendorHawk, a software-as-a-service management company
May 2018: AI startup Parlo
October 2018: Data analytics company, FriendlyData
May 2019: Appsee Ltd., an in-app mobile analytics startup
November 2019: Fairchild Resiliency Systems
January 2020: Loom Systems, Passage AI, and Attivio
June 2020: Sweagle
November 2020: Element AI
March 2021: Intellibot
May 2021: Lightstep
August 2021: Swarm64 and Mapwize
October 2021: Gekkobrain
June 2022: Hitch
October 2022: Era Software
July 2023: AI-powered platform G2K
December 2023: UltimateSuite
March 2024: 4Industry
July 2024: Raytion GmbH
November 2024: Mission Secure
January 2025: Cuein AI
February 2025: Quality 360°
March 2025: Moveworks
April 2025: Logik
May 2025: Data.World
December 2025: Veza
December 2025: Armis
February 2026: Pyramid Analytics
March 2025: Traceloop
April 2026: Armis
July 2026: Ai.Work
Platform
ServiceNow is a platform-as-a-service, that is designed to support IT service management and help desk functionality with automated workflows. Their fee model was based on a cost per user (seat) per month, with that cost ranging down from US$100.
The platform is packaged into different suites of applications called "modules", which are tailored to various business processes. Some of these areas include governance, risk management, and compliance, audit, business continuity planning, disaster recovery, vendor management, and environmental, social, and corporate governance. A commonly referred to benefit of the platform is that many of these modules are interconnected, such as the IRM suite (Integrated Risk Management), which will automatically create issues and assign tickets based on various risk and audit findings, findings that can be found through the manual or automated performance of different activities such as evidence requests. There is also a data and information visualization report creator called Performance Analytics.
The ServiceNow script is written in JavaScript, with database queries being made using a proprietary object-oriented API called Glide. In July 2023, the company released generative AI summarization and text-to-code features.
Source: Wikipedia, CC BY-SA 4.0 · View on Wikipedia ↗
NOW Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$129.67
Market Cap
$135.80B
P/E (TTM)
77.6
EPS (TTM)
$1.67
Revenue (TTM)
$13.28B
Div Yield
—
ROE
14.6%
Debt/Equity
—
52W Range
$81 – $195
NOW Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
Configure
10-Year Performance Revenue, net income, margins and EPS trends
Revenue & Net Income
$13.28B
2016-12-31
→
2025-12-31
EPS
$1.67
2017-12-31
→
2025-12-31
Free Cash Flow
$4.58B
2016-12-31
→
2025-12-31
Margins
13.2%
2016-12-31
→
2025-12-31
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
Metric
5Y trend
NOW
Peer Median
P/E (TTM)
77.6
32.4
P/S (TTM)
10.2
9.4
P/B
10.5
8.5
Price / FCF
29.7
—
Profitability Gross, operating and net margins; ROE, ROA, ROIC
Metric
5Y trend
NOW
Peer Median
Gross Margin
77.5%
78.4%
Operating Margin
13.7%
—
Net Profit Margin
13.2%
12.7%
ROA
7.5%
5.5%
ROE
14.6%
15.0%
ROIC
10.9%
—
Financial Health Debt, liquidity, solvency — balance sheet strength
Metric
5Y trend
NOW
Peer Median
Current Ratio
1.0
1.4
Quick Ratio
0.6
—
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
Metric
5Y trend
NOW
Peer Median
Revenue YoY
20.9%
—
Revenue CAGR 3Y
22.4%
—
Revenue CAGR 5Y
24.1%
—
EPS YoY
21.9%
—
Net Income YoY
22.7%
—
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
Metric
5Y trend
NOW
Peer Median
NOW Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
BUY
55 analysts
- Strong Buy 16 29.1%
- Buy 33 60.0%
- Hold 4 7.3%
- Sell 2 3.6%
- Strong Sell 0 0.0%
12-Month Price Target
46 analysts · 2026-08-22
Median
$140.00
Now
$129.67
Low
$72.00
High
$248.00
Median target
$140.00
+8.0%
Mean target
$142.23
+9.7%
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
0.05%
| Period | EPS Actual | EPS Est | Surprise |
|---|---|---|---|
| June 30, 2026 | $0.90 | $0.86 | 0.04% |
| March 31, 2026 | $0.97 | $0.97 | -0.00% |
| Dec. 31, 2025 | $0.92 | $0.89 | 0.03% |
| Sept. 30, 2025 | $0.96 | $0.86 | 0.10% |
| June 30, 2025 | $0.82 | $0.72 | 0.10% |
| March 31, 2025 | $0.81 | $0.77 | 0.03% |
Peer comparison (GICS sub-industry) Key metrics vs sector peers
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| NOW | $160.43B | 91.7 | 20.9% | 13.2% | 14.6% | 77.5% |
| MSFT | $2.77T | 20.8 | 17.8% | 40.3% | 34.0% | 67.9% |
| ORCL | $650.25B | 38.7 | 17.3% | 25.4% | 54.3% | — |
| PANW | $115.95B | 108.5 | 14.9% | 12.3% | 16.0% | 73.4% |
| CRWD | — | -685.9 | 21.7% | -3.4% | -4.2% | 74.7% |
| FTNT | $59.00B | 32.8 | 14.2% | 27.3% | 135.7% | 80.5% |
| ZS | $45.20B | -1057.6 | 23.3% | -1.6% | -2.4% | 76.9% |
| RBRK | $11.32B | -31.4 | 48.5% | -26.5% | 64.4% | 80.1% |
| GEN | $11.30B | 12.0 | 27.1% | 19.5% | 38.4% | 78.5% |
| FROG | $7.47B | -100.7 | 24.1% | -13.5% | -8.4% | 76.8% |
| PATH | — | 24.2 | 12.7% | 17.5% | 15.1% | 83.2% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $13.28B | $10.98B | $8.97B | $7.25B | $5.90B | $4.52B | $3.46B | $2.61B | $1.92B | $1.39B | $1.01B | |
| Cost of Revenue | $2.98B | $2.29B | $1.92B | $1.57B | $1.35B | $987M | $796M | $623M | $500M | $399M | $329M | |
| Gross Profit | $10.29B | $8.70B | $7.05B | $5.67B | $4.54B | $3.53B | $2.66B | $1.99B | $1.42B | $992M | $676M | |
| R&D Expense | $2.96B | $2.54B | $2.12B | $1.77B | $1.40B | $1.02B | $749M | $530M | $378M | $285M | $217M | |
| SG&A Expense | $1.12B | $936M | $863M | $735M | $597M | $454M | $339M | $296M | $211M | $159M | $127M | |
| Operating Expenses | $8.47B | $7.33B | $6.29B | $5.32B | $4.29B | $3.33B | $2.62B | $2.03B | $1.48B | $1.37B | $842M | |
| Operating Income | $1.82B | $1.36B | $762M | $355M | $257M | $199M | $42M | $-42M | $-64M | $-382M | $-166M | |
| Interest Expense | · | · | · | $27M | $28M | $33M | $33M | $53M | $53M | $33M | $31M | |
| Other Non-op | $-14M | $-45M | $-56M | $-38M | $-28M | $-16M | $58M | $56M | $4M | $5M | $4M | |
| Pretax Income | $2.26B | $1.74B | $1.01B | $399M | $249M | $150M | $67M | $-39M | $-113M | $-410M | $-193M | |
| Income Tax | $513M | $313M | $-723M | $74M | $19M | $31M | $-560M | $-12M | $3M | $4M | $5M | |
| Net Income | $1.75B | $1.43B | $1.73B | $325M | $230M | $119M | $627M | $-27M | $-117M | $-414M | $-198M | |
| EPS (Basic) | $1.69 | $1.38 | $1.70 | $1.61 | $1.16 | $0.61 | $3.36 | $-0.15 | $-0.68 | · | · | |
| EPS (Diluted) | $1.67 | $1.37 | $1.68 | $1.60 | $1.13 | $0.59 | $3.18 | $-0.15 | $-0.68 | · | · | |
| Shares (Basic) | 1,036,740,000 | 1,029,169,000 | 1,020,685,000 | 201,430,000 | 198,094,000 | 193,096,000 | 186,466,000 | 177,846,000 | 171,176,000 | · | · | |
| Shares (Diluted) | 1,046,691,000 | 1,042,113,000 | 1,027,953,000 | 203,535,000 | 203,167,000 | 202,478,000 | 197,223,000 | 177,846,000 | 171,176,000 | · | · | |
| EBITDA | $2.56B | $1.93B | $1.32B | $788M | $729M | $535M | $294M | $107M | · | $-340M | $-106M |
Balance Sheet 28
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $3.73B | $2.30B | $1.90B | $1.47B | $1.73B | $1.68B | $776M | $566M | $726M | $401M | $412M | |
| Short-term Investments | · | · | · | · | · | · | · | · | $1.05B | $498M | $389M | |
| Receivables | $2.63B | $2.24B | $2.04B | $1.73B | $1.39B | $1.01B | $835M | $575M | $437M | $323M | $203M | |
| Prepaid Expense | $970M | $668M | $403M | $280M | $223M | $192M | $125M | $132M | $96M | $44M | $29M | |
| Current Assets | $10.47B | $9.19B | $7.78B | $6.65B | $5.22B | $4.52B | $2.83B | $2.34B | $2.42B | $1.34B | $1.09B | |
| PP&E (Net) | $2.29B | $1.76B | $1.36B | $1.05B | $766M | $660M | $468M | $347M | $245M | $182M | $145M | |
| PP&E (Gross) | $4.12B | $3.27B | $2.64B | $2.05B | $1.59B | $1.29B | $925M | $686M | $480M | $332M | $246M | |
| Accum. Depreciation | $1.84B | $1.51B | $1.28B | $995M | $825M | $632M | $457M | $339M | $235M | $151M | $101M | |
| Goodwill | $3.58B | $1.27B | $1.23B | $824M | $777M | $241M | $157M | $149M | $129M | $83M | $56M | |
| Intangibles | $1.12B | $209M | $224M | $232M | $287M | $153M | $144M | $101M | $87M | $66M | $43M | |
| Other Non-current Assets | $290M | $291M | $452M | $359M | $212M | $100M | $78M | $53M | $52M | $37M | $22M | |
| Total Assets | $26.04B | $20.38B | $17.39B | $13.30B | $10.80B | $8.71B | $6.02B | $3.88B | $3.55B | $2.03B | $1.81B | |
| Accounts Payable | $204M | $68M | $126M | $274M | $89M | $34M | $53M | $31M | $32M | $38M | $37M | |
| Accrued Liabilities | $1.81B | $1.37B | $1.36B | $975M | $850M | $668M | $461M | $330M | $253M | $172M | $101M | |
| Short-term Debt | $0 | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $10.44B | $8.36B | $7.37B | $6.00B | $4.95B | $3.74B | $2.75B | $2.01B | $2.04B | $1.07B | $732M | |
| Capital Leases | $800M | $687M | $707M | $650M | $556M | $423M | $383M | $0 | · | · | · | |
| Other Non-current Liabilities | $220M | $145M | $118M | $56M | $51M | $36M | $23M | $55M | $66M | $34M | $23M | |
| Total Liabilities | $13.07B | $10.77B | $9.76B | $8.27B | $7.10B | $5.88B | $3.89B | $2.77B | $2.77B | $1.65B | $1.24B | |
| Long-term Debt | $1.49B | · | · | · | · | $1.64B | · | · | · | · | · | |
| Total Debt | · | · | · | $0 | $92M | · | · | · | · | · | · | |
| Common Stock | $1M | $1M | $0 | $0 | $0 | $0 | $189.0K | $180.0K | $174.0K | $167.0K | $160.0K | |
| Retained Earnings | $5.24B | $3.49B | $2.07B | $338M | $-4M | $-234M | $-352M | $-979M | $-959M | $-997M | $-557M | |
| Treasury Stock | $3.04B | $1.22B | $535M | $0 | · | · | · | · | · | · | · | |
| AOCI | $19M | $-68M | $-37M | $-102M | $34M | $94M | $25M | $-4M | $6M | $-21M | $-17M | |
| Stockholders' Equity | $12.96B | $9.61B | $7.63B | $5.03B | $3.69B | $2.83B | $2.13B | $1.11B | $779M | $541M | $567M | |
| Liabilities + Equity | $26.04B | $20.38B | $17.39B | $13.30B | $10.80B | $8.71B | $6.02B | $3.88B | $3.55B | $2.03B | $1.81B | |
| Shares Outstanding | 1,047,278,000 | 1,032,437,000 | 204,724,000 | 202,882,000 | 199,608,000 | 195,845,000 | 189,461,000 | 180,175,000 | 174,275,864 | 167,430,773 | 160,785,764 |
Cash Flow 17
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $738M | $564M | $562M | $433M | $472M | $336M | $252M | $150M | $114M | $83M | $60M | |
| Stock-based Comp | $1.96B | $1.75B | $1.60B | $1.40B | $1.13B | $870M | $662M | $544M | $394M | $318M | $258M | |
| Deferred Tax | $251M | $98M | $-857M | $15M | $-34M | $-22M | $-576M | $-34M | $-6M | $-1M | $-2M | |
| Amort. of Intangibles | $120M | $94M | $85M | $81M | $76M | $46M | $35M | $25M | $20M | $15M | $12M | |
| Other Non-cash | $752M | $434M | $358M | $549M | $392M | $484M | $271M | $179M | · | $214M | $197M | |
| Operating Cash Flow | $5.44B | $4.27B | $3.40B | $2.72B | $2.19B | $1.79B | $1.24B | $811M | $643M | $159M | $318M | |
| CapEx | $868M | $852M | $694M | $550M | $392M | $419M | $265M | $224M | $151M | $106M | $87M | |
| Investing Cash Flow | $-1.69B | $-2.50B | $-2.17B | $-2.58B | $-1.61B | $-1.51B | $-725M | $-347M | $-884M | $-108M | $-232M | |
| Debt Issued | · | · | · | $0 | $0 | $1.48B | $0 | $0 | · | · | · | |
| Net Debt Issued | · | · | · | $0 | $0 | $1.48B | · | · | · | · | · | |
| Stock Repurchased | $1.84B | $696M | $538M | $0 | $0 | · | $0 | $0 | $55M | $0 | $0 | |
| Net Stock Activity | $-1.84B | $-696M | $-538M | · | · | · | $0 | $0 | · | · | · | |
| Financing Cash Flow | $-2.34B | $-1.34B | $-803M | $-344M | $-506M | $597M | $-302M | $-607M | $539M | $-56M | $80M | |
| Net Change in Cash | $1.42B | $406M | $429M | $-257M | $53M | $901M | $209M | $-159M | $326M | $-11M | $160M | |
| Taxes Paid | $283M | $230M | $127M | $45M | $36M | $39M | $20M | $18M | $8M | $4M | $4M | |
| Free Cash Flow | $4.58B | $3.42B | $2.70B | $2.17B | $1.80B | $1.37B | $971M | $587M | · | $54M | $228M | |
| Levered FCF | · | · | · | $2.15B | $1.77B | $1.34B | $661M | $551M | · | $21M | $196M |
Profitability 8
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 77.5% | 79.2% | 78.6% | 78.3% | 77.0% | 78.2% | 77.0% | 76.1% | · | 71.3% | 67.2% | |
| Operating Margin | 13.7% | 12.4% | 8.5% | 4.9% | 4.4% | 4.4% | 1.2% | -1.6% | · | -30.4% | -16.6% | |
| Net Margin | 13.2% | 13.0% | 19.3% | 4.5% | 3.9% | 2.6% | 18.1% | -1.0% | · | -32.5% | -19.7% | |
| Pretax Margin | 17.0% | 15.8% | 11.2% | 5.5% | 4.2% | 3.3% | 1.9% | -1.5% | · | -32.4% | -19.2% | |
| EBITDA Margin | 19.3% | 17.5% | 14.8% | 10.9% | 12.4% | 11.8% | 8.5% | 4.1% | · | -24.4% | -10.5% | |
| ROA | 7.5% | 7.5% | 11.3% | 2.7% | 2.4% | 1.6% | 12.7% | -0.72% | · | -23.5% | -12.3% | |
| ROE | 14.6% | 15.1% | 23.4% | 6.8% | 6.4% | 4.3% | 35.2% | -2.5% | · | -94.7% | -39.9% | |
| ROIC | 10.9% | 11.6% | 17.2% | 5.8% | 6.3% | 5.6% | 18.5% | -2.6% | · | -109.7% | -30.2% |
Liquidity & Solvency 4
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.0 | 1.1 | 1.1 | 1.1 | 1.1 | 1.2 | 1.0 | 1.2 | · | 1.3 | 1.5 | |
| Quick Ratio | 0.6 | 0.5 | 0.5 | 0.5 | 0.6 | 0.7 | 0.6 | 0.6 | · | 1.1 | 1.4 | |
| Debt / Equity | · | · | · | 0.0 | 0.0 | · | · | · | · | · | · | |
| Interest Coverage | · | · | · | 13.1 | 9.2 | 6.1 | 1.3 | -0.8 | · | -12.7 | -5.3 |
Efficiency 2
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.6 | 0.7 | 0.7 | · | 0.7 | 0.6 | |
| Receivables Turnover | 5.5 | 5.1 | 4.8 | 4.7 | 4.9 | 4.9 | 4.9 | 5.2 | · | 5.3 | 5.5 |
Growth Rates 9
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 20.9% | 22.4% | 23.8% | 22.9% | 30.5% | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 22.4% | 23.1% | 25.7% | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 24.1% | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 21.9% | -18.4% | 5.0% | 41.6% | 91.5% | · | · | · | · | · | · | |
| EPS CAGR 3Y | 1.4% | 6.6% | 41.7% | · | · | · | · | · | · | · | · | |
| EPS CAGR 5Y | 23.1% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 22.7% | -17.7% | 432.6% | 41.3% | 93.3% | · | · | · | · | · | · | |
| Net Income CAGR 3Y | 75.2% | 83.7% | 144.1% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 5Y | 71.2% | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM) 14
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $13.28B | $10.98B | $8.97B | $7.25B | $5.90B | $4.52B | $3.46B | $2.61B | · | $1.39B | $1.01B | |
| Net Income TTM | $1.75B | $1.43B | $1.73B | $325M | $230M | $119M | $627M | $-27M | · | $-414M | $-198M | |
| Market Cap | $160.43B | $43.78B | $28.93B | $15.75B | $25.91B | $21.56B | $10.70B | $6.42B | · | $2.49B | $2.78B | |
| Enterprise Value | · | · | · | $14.28B | $24.28B | · | · | · | · | · | · | |
| P/E | 91.7 | 154.8 | 84.1 | 48.5 | 114.9 | 186.6 | 17.8 | -237.4 | · | -31.0 | -36.1 | |
| P/S | 12.1 | 4.0 | 3.2 | 2.2 | 4.4 | 4.8 | 3.1 | 2.5 | · | 1.8 | 2.8 | |
| P/B | 12.4 | 4.6 | 3.8 | 3.1 | 7.0 | 7.6 | 5.0 | 5.8 | · | 6.4 | 4.9 | |
| P / Tangible Book | 19.4 | 5.4 | 4.7 | 4.0 | 9.8 | 8.8 | · | · | · | · | · | |
| P / Cash Flow | 29.5 | 10.3 | 8.5 | 5.8 | 11.8 | 12.1 | 8.7 | 7.9 | · | 15.6 | 8.8 | |
| P / FCF | 35.1 | 12.8 | 10.7 | 7.3 | 14.4 | 15.8 | 11.0 | 10.9 | · | 45.8 | 12.2 | |
| EV / EBITDA | · | · | · | 18.1 | 33.3 | · | · | · | · | · | · | |
| EV / FCF | · | · | · | 6.6 | 13.5 | · | · | · | · | · | · | |
| EV / Revenue | · | · | · | 2.0 | 4.1 | · | · | · | · | · | · | |
| Earnings Yield | 1.1% | 0.65% | 1.2% | 2.1% | 0.87% | 0.54% | 5.6% | -0.42% | · | -3.2% | -2.8% |
Income Statement 17
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $3.99B | $3.77B | $3.57B | $3.41B | $3.21B | $3.09B | $2.96B | $2.80B | $2.63B | $2.60B | $2.44B | $2.29B | $2.15B | $2.10B | $1.94B | $1.83B | |
| Cost of Revenue | $1.17B | $940M | $834M | $774M | $724M | $651M | $631M | $584M | $552M | $520M | $516M | $496M | $471M | $438M | $415M | $400M | |
| Gross Profit | $2.82B | $2.83B | $2.73B | $2.63B | $2.49B | $2.44B | $2.33B | $2.21B | $2.08B | $2.08B | $1.92B | $1.79B | $1.68B | $1.66B | $1.52B | $1.43B | |
| R&D Expense | $915M | $823M | $773M | $750M | $734M | $703M | $668M | $626M | $643M | $606M | $562M | $549M | $521M | $492M | $454M | $456M | |
| SG&A Expense | $369M | $288M | $368M | $255M | $271M | $229M | $257M | $225M | $232M | $222M | $242M | $213M | $209M | $199M | $194M | $187M | |
| Operating Expenses | $2.66B | $2.33B | $2.29B | $2.06B | $2.13B | $1.99B | $1.95B | $1.79B | $1.83B | $1.75B | $1.65B | $1.56B | $1.56B | $1.51B | $1.37B | $1.34B | |
| Operating Income | $162M | $503M | $443M | $572M | $358M | $451M | $374M | $418M | $240M | $332M | $270M | $231M | $117M | $144M | $155M | $91M | |
| Interest Expense | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $8M | |
| Other Non-op | $206M | $82M | $-7M | $7M | $-3M | $-11M | $-17M | $-10M | $-10M | $-8M | $-9M | $-14M | $-17M | $-16M | $-10M | $-15M | |
| Pretax Income | $438M | $673M | $541M | $694M | $471M | $555M | $463M | $516M | $334M | $425M | $347M | $299M | $174M | $188M | $183M | $102M | |
| Income Tax | $140M | $204M | $140M | $192M | $86M | $95M | $79M | $84M | $72M | $78M | $52M | $57M | $-870M | $38M | $33M | $22M | |
| Net Income | $298M | $469M | $401M | $502M | $385M | $460M | $384M | $432M | $262M | $347M | $295M | $242M | $1.04B | $150M | $150M | $80M | |
| EPS (Basic) | $0.29 | $0.45 | $-3.03 | $2.42 | $0.37 | $0.44 | $-3.67 | $2.09 | $1.27 | $1.69 | $-5.34 | $1.18 | $5.12 | $0.74 | $0.74 | $0.39 | |
| EPS (Diluted) | $0.29 | $0.45 | $-3.01 | $2.40 | $0.37 | $0.44 | $-3.63 | $2.07 | $1.26 | $1.67 | $-5.30 | $1.17 | $5.08 | $0.73 | $0.74 | $0.39 | |
| Shares (Basic) | 1,031,351,000 | 1,035,138,000 | -412,152,000 | 207,630,000 | 1,035,819,000 | 1,034,098,000 | 412,259,000 | 206,158,000 | 205,644,000 | 205,108,000 | 408,815,000 | 204,464,000 | 204,021,000 | 203,385,000 | -401,658,000 | 202,045,000 | |
| Shares (Diluted) | 1,034,334,000 | 1,039,884,000 | -418,988,000 | 209,505,000 | 1,046,608,000 | 1,046,852,000 | 418,078,000 | 208,552,000 | 207,799,000 | 207,684,000 | 412,062,000 | 206,277,000 | 205,351,000 | 204,263,000 | -405,404,000 | 203,121,000 | |
| EBITDA | $162M | $761M | · | $572M | $358M | $611M | · | $418M | $240M | $462M | · | $231M | $117M | $270M | · | $91M |
Balance Sheet 27
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $2.50B | $2.70B | $3.73B | $2.73B | $3.12B | $3.37B | $2.30B | $1.89B | $2.16B | $2.06B | $1.90B | $1.11B | $1.66B | $1.85B | $1.47B | $1.25B | |
| Receivables | $2.20B | $1.71B | $2.63B | $1.55B | $1.70B | $1.36B | $2.24B | $1.31B | $1.52B | $1.31B | · | $1.17B | $1.09B | $1.11B | · | $898M | |
| Prepaid Expense | $1.05B | $949M | $970M | $846M | $896M | $781M | $668M | $591M | $608M | $482M | · | $394M | $362M | $319M | · | $292M | |
| Current Assets | $8.51B | $8.44B | $10.47B | $8.36B | $9.28B | $9.27B | $9.19B | $7.70B | $8.02B | $7.37B | · | $6.05B | $6.60B | $6.73B | · | $5.48B | |
| PP&E (Net) | $2.18B | $2.25B | $2.29B | $2.13B | $1.99B | $1.89B | $1.76B | $1.72B | $1.61B | $1.45B | · | $1.20B | $1.15B | $1.12B | · | $914M | |
| PP&E (Gross) | $4.26B | $4.21B | $4.12B | $3.90B | $3.68B | $3.46B | $3.27B | $3.20B | $2.98B | $2.77B | · | $2.38B | $2.27B | $2.18B | · | $1.85B | |
| Accum. Depreciation | $2.09B | $1.96B | $1.84B | $1.78B | $1.70B | $1.57B | $1.51B | $1.48B | $1.37B | $1.32B | · | $1.18B | $1.12B | $1.06B | · | $936M | |
| Goodwill | $9.84B | $4.54B | $3.58B | $1.82B | $1.78B | $1.30B | $1.27B | $1.29B | $1.24B | $1.22B | $1.23B | $1.20B | $821M | $823M | $824M | $794M | |
| Intangibles | $3.78B | $1.48B | $1.12B | $391M | $319M | $230M | $209M | $214M | $220M | $224M | · | $242M | $191M | $212M | · | $234M | |
| Other Non-current Assets | $379M | $335M | $290M | $272M | $864M | $764M | $291M | $635M | $599M | $502M | · | $450M | $436M | $390M | · | $336M | |
| Total Assets | $31.67B | $24.38B | $26.04B | $21.79B | $22.05B | $20.97B | $20.38B | $18.43B | $18.21B | $17.54B | · | $15.09B | $14.92B | $13.61B | · | $11.11B | |
| Accounts Payable | $162M | $427M | $204M | $146M | $211M | $309M | $68M | $165M | $296M | $223M | · | $69M | $171M | $228M | · | $195M | |
| Accrued Liabilities | $1.74B | $1.41B | $1.81B | $1.27B | $1.38B | $1.11B | $1.37B | $1.06B | $1.16B | $1.02B | · | $1.00B | $893M | $694M | · | $657M | |
| Short-term Debt | $2.08B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Current Liabilities | $12.15B | $9.98B | $10.44B | $7.87B | $8.49B | $8.26B | $8.36B | $6.79B | $7.17B | $7.03B | · | $5.60B | $5.77B | $5.76B | · | $4.43B | |
| Capital Leases | $822M | $822M | $800M | $804M | $815M | $806M | $687M | $650M | $669M | $693M | · | $682M | $635M | $655M | · | $551M | |
| Other Non-current Liabilities | $605M | $258M | $220M | $211M | $209M | $162M | $145M | $142M | $127M | $123M | · | $93M | $63M | $59M | · | $52M | |
| Total Liabilities | $19.15B | $12.65B | $13.07B | $10.49B | $11.12B | $10.83B | $10.77B | $9.14B | $9.54B | $9.44B | · | $7.91B | $8.00B | $8.01B | · | $6.58B | |
| Long-term Debt | $5.43B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Total Debt | $2.08B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0 | |
| Common Stock | $1M | $1M | $1M | $0 | $0 | $0 | $1M | $0 | $0 | $0 | · | $0 | $0 | $0 | · | $0 | |
| Retained Earnings | $6.01B | $5.71B | $5.24B | $4.84B | $4.34B | $3.95B | $3.49B | $3.11B | $2.68B | $2.42B | · | $1.77B | $1.53B | $488M | · | $188M | |
| Treasury Stock | $5.37B | $5.38B | $3.04B | $2.45B | $1.87B | $1.51B | $1.22B | $926M | $704M | $707M | · | $282M | · | · | · | · | |
| AOCI | $-44M | $7M | $19M | $-17M | $-49M | $-70M | $-68M | $-20M | $-78M | $-68M | · | $-157M | $-91M | $-70M | · | $-172M | |
| Stockholders' Equity | $12.52B | $11.73B | $12.96B | $11.30B | $10.93B | $10.14B | $9.61B | $9.29B | $8.67B | $8.11B | $7.63B | $7.18B | $6.93B | $5.60B | $5.03B | $4.52B | |
| Liabilities + Equity | $31.67B | $24.38B | $26.04B | $21.79B | $22.05B | $20.97B | $20.38B | $18.43B | $18.21B | $17.54B | · | $15.09B | $14.92B | $13.61B | · | $11.11B | |
| Shares Outstanding | 1,033,862,000 | 1,031,308,000 | 1,047,278,000 | 207,564,000 | 207,519,000 | 206,979,000 | 1,032,437,000 | 206,317,000 | 205,857,000 | 205,382,000 | · | 204,600,000 | · | · | · | · |
Cash Flow 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $407M | $258M | $212M | $194M | $172M | $160M | $154M | $144M | $136M | $130M | $154M | $146M | $136M | $126M | $118M | $109M | |
| Stock-based Comp | $652M | $547M | $494M | $492M | $499M | $470M | $454M | $426M | $444M | $422M | $413M | $413M | $397M | $381M | $363M | $361M | |
| Amort. of Intangibles | $219M | $77M | $41M | $33M | $25M | $21M | $23M | $23M | $24M | $24M | $22M | $21M | $22M | $20M | $21M | $20M | |
| Other Non-cash | · | $396M | · | · | · | $587M | · | · | · | $442M | · | · | · | $245M | · | · | |
| Operating Cash Flow | $587M | $1.67B | $2.24B | $813M | $716M | $1.68B | $1.64B | $671M | $620M | $1.34B | $1.60B | $311M | $580M | $902M | $1.16B | $265M | |
| CapEx | $114M | $141M | $238M | $235M | $190M | $205M | $253M | $202M | $262M | $135M | $261M | $136M | $132M | $165M | $144M | $162M | |
| Investing Cash Flow | $-6.65B | $-451M | $-498M | $-551M | $-423M | $-217M | $-738M | $-658M | $-187M | $-734M | $-444M | $-525M | $-674M | $-524M | $-874M | $-629M | |
| Stock Repurchased | $0 | $2.23B | $597M | $584M | $361M | $298M | $296M | $225M | $0 | $175M | $256M | $282M | $0 | $0 | $0 | · | |
| Net Stock Activity | · | $-2.23B | · | · | · | $-298M | · | · | · | $-175M | · | · | · | · | · | · | |
| Financing Cash Flow | $5.87B | $-2.24B | $-739M | $-657M | $-546M | $-398M | $-471M | $-292M | $-321M | $-443M | $-381M | $-333M | $-94M | $5M | $-75M | $-40M | |
| Net Change in Cash | $-193M | $-1.02B | $998M | $-399M | $-244M | $1.07B | $417M | $-274M | $103M | $160M | $785M | $-551M | $-189M | $384M | $221M | $-416M | |
| Taxes Paid | $92M | $38M | $102M | $52M | $93M | $36M | $47M | $71M | $91M | $21M | $24M | $40M | $41M | $22M | $12M | $12M | |
| Free Cash Flow | · | $1.53B | · | · | · | $1.47B | · | · | · | $1.21B | · | · | · | $737M | · | · |
Profitability 8
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.7% | 75.1% | · | 77.3% | 77.5% | 78.9% | · | 79.1% | 79.0% | 80.0% | · | 78.3% | 78.1% | 79.1% | · | 78.1% | |
| Operating Margin | 4.1% | 13.3% | · | 16.8% | 11.1% | 14.6% | · | 14.9% | 9.1% | 12.8% | · | 10.1% | 5.4% | 6.9% | · | 5.0% | |
| Net Margin | 7.5% | 12.4% | · | 14.7% | 12.0% | 14.9% | · | 15.4% | 10.0% | 13.3% | · | 10.6% | 48.6% | 7.2% | · | 4.4% | |
| Pretax Margin | 11.0% | 17.8% | · | 20.4% | 14.6% | 18.0% | · | 18.4% | 12.7% | 16.3% | · | 13.1% | 8.1% | 9.0% | · | 5.6% | |
| EBITDA Margin | 4.1% | 20.2% | · | 16.8% | 11.1% | 19.8% | · | 14.9% | 9.1% | 17.8% | · | 10.1% | 5.4% | 12.9% | · | 5.0% | |
| ROA | 1.1% | 2.1% | · | 2.5% | 1.9% | 2.4% | · | 2.6% | 1.6% | 2.2% | · | 1.8% | 8.0% | 1.2% | · | 0.78% | |
| ROE | 2.5% | 4.3% | · | 4.9% | 3.9% | 5.0% | · | 5.2% | 3.4% | 5.1% | · | 4.1% | 18.8% | 3.1% | · | 2.0% | |
| ROIC | 0.76% | 3.0% | · | 3.7% | 2.7% | 3.7% | · | 3.8% | 2.2% | 3.3% | · | 2.6% | 10.1% | 2.1% | · | 1.6% |
Liquidity & Solvency 4
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 0.7 | 0.8 | · | 1.1 | 1.1 | 1.1 | · | 1.1 | 1.1 | 1.0 | · | 1.1 | 1.1 | 1.2 | · | 1.2 | |
| Quick Ratio | 0.4 | 0.4 | · | 0.5 | 0.6 | 0.6 | · | 0.5 | 0.5 | 0.5 | · | 0.4 | 0.5 | 0.5 | · | 0.5 | |
| Debt / Equity | 0.2 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 0.0 | |
| Interest Coverage | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | 11.4 |
Efficiency 2
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | 0.2 | 0.2 | · | 0.2 | |
| Receivables Turnover | 2.0 | 2.5 | · | 2.4 | 2.0 | 2.3 | · | 2.3 | 2.0 | 2.2 | · | 2.2 | 2.2 | 2.2 | · | 2.2 |
Valuation (TTM) 13
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $14.38B | $13.48B | · | $12.51B | $11.73B | $11.12B | · | $10.31B | $9.67B | $9.14B | · | $8.37B | $7.83B | $7.40B | · | $6.82B | |
| Net Income TTM | $1.65B | $1.82B | · | $1.78B | $1.54B | $1.50B | · | $1.28B | $1.90B | $1.78B | · | $1.52B | $1.29B | $325M | · | $238M | |
| Market Cap | $102.64B | $107.82B | · | $38.20B | $42.67B | $32.96B | · | $36.91B | $32.39B | $31.32B | · | $22.87B | · | · | · | · | |
| Enterprise Value | $102.22B | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| P/E | 28.3 | 20.4 | · | 27.3 | 36.7 | 29.3 | · | 29.0 | 17.1 | 17.6 | · | 15.2 | 17.8 | 58.5 | · | 64.5 | |
| P/S | 7.1 | 8.0 | · | 3.1 | 3.6 | 3.0 | · | 3.6 | 3.4 | 3.4 | · | 2.7 | · | · | · | · | |
| P/B | 8.2 | 9.2 | · | 3.4 | 3.9 | 3.3 | · | 4.0 | 3.7 | 3.9 | · | 3.2 | · | · | · | · | |
| P / Tangible Book | · | 18.9 | · | 4.2 | 4.8 | 3.8 | · | 4.7 | 4.5 | 4.7 | · | 4.0 | · | · | · | · | |
| P / Cash Flow | · | 64.6 | · | · | · | 19.7 | · | · | · | 23.4 | · | · | · | · | · | · | |
| P / FCF | · | 70.5 | · | · | · | 22.4 | · | · | · | 26.0 | · | · | · | · | · | · | |
| EV / EBITDA | 631.0 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| EV / Revenue | 7.1 | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Earnings Yield | 3.5% | 4.9% | · | 3.7% | 2.7% | 3.4% | · | 3.5% | 5.8% | 5.7% | · | 6.6% | 5.6% | 1.7% | · | 1.6% |
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
Income Statement
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Revenue | $13.28B | $10.98B | $8.97B | $7.25B | $5.90B |
| Gross Margin % | 77.5% | 79.2% | 78.6% | 78.3% | 77.0% |
| Operating Margin % | 13.7% | 12.4% | 8.5% | 4.9% | 4.4% |
| Net Income | $1.75B | $1.43B | $1.73B | $325M | $230M |
| Diluted EPS | $1.67 | $1.37 | $1.68 | $1.60 | $1.13 |
Balance Sheet
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Debt / Equity | — | — | — | 0.0 | 0.0 |
| Current Ratio | 1.0 | 1.1 | 1.1 | 1.1 | 1.1 |
| Quick Ratio | 0.6 | 0.5 | 0.5 | 0.5 | 0.6 |
Cash Flow
| 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 | |
|---|---|---|---|---|---|
| Free Cash Flow | $4.58B | $3.42B | $2.70B | $2.17B | $1.80B |
Latest News Recent headlines mentioning this company
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Institutional owners (13F) 2,570 filers · $54.6B total · As of June 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 379 (+23 vs prior Q) | 253 (-97 vs prior Q) | 971 (-92 vs prior Q) | 808 (+82 vs prior Q) | +29.3M |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| VANGUARD CAPITAL MANAGEMENT LLC | $6,686,690,478 | 67,351,838 | 12.26% | Shares |
| STATE STREET CORP | $4,868,514,283 | 49,038,218 | 8.92% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $2,500,341,285 | 25,184,743 | 4.58% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $2,080,460,383 | 20,979,539 | 3.81% | Shares |
| NORGES BANK | $1,236,839,274 | 12,458,091 | 2.27% | Shares |
| JANE STREET GROUP, LLC | $881,427,696 | 8,878,200 | 1.62% | Put option |
| Fisher Asset Management, LLC | $796,058,737 | 8,018,318 | 1.46% | Shares |
| FMR LLC | $728,582,712 | 7,338,665 | 1.34% | Shares |
| Pictet Asset Management Holding SA | $713,165,084 | 7,183,047 | 1.31% | Shares |
| VICTORY CAPITAL MANAGEMENT INC | $711,214,536 | 7,163,661 | 1.30% | Shares |
| JANE STREET GROUP, LLC | $644,198,136 | 6,488,700 | 1.18% | Call option |
| VANGUARD FIDUCIARY TRUST CO | $588,256,139 | 5,925,223 | 1.08% | Shares |
| POLEN CAPITAL MANAGEMENT LLC | $533,150,641 | 5,370,172 | 0.98% | Shares |
| GOLDMAN SACHS GROUP INC | $529,056,847 | 5,328,937 | 0.97% | Shares |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | $514,237,538 | 5,179,669 | 0.94% | Shares |
| GOLDMAN SACHS GROUP INC | $506,735,048 | 5,104,100 | 0.93% | Put option |
| AMERIPRISE FINANCIAL INC | $490,150,987 | 4,935,774 | 0.90% | Shares |
| BARCLAYS PLC | $463,976,640 | 4,673,415 | 0.85% | Shares |
| TWO SIGMA ADVISERS, LP | $460,149,058 | 3,003,780 | 0.84% | Shares |
| Employees Provident Fund Board | $414,200,528 | 4,172,044 | 0.76% | Shares |
| CITADEL ADVISORS LLC | $388,605,648 | 3,914,239 | 0.71% | Shares |
| BNP PARIBAS FINANCIAL MARKETS | $347,681,538 | 3,502,030 | 0.64% | Shares |
| AMERICAN CENTURY COMPANIES INC | $342,393,091 | 3,448,762 | 0.63% | Shares |
| Clearbridge Investments, LLC | $314,324,134 | 3,166,037 | 0.58% | Shares |
| Swiss National Bank | $292,889,899 | 2,950,140 | 0.54% | Shares |
| Mitsubishi UFJ Asset Management Co., Ltd. | $291,802,783 | 2,939,190 | 0.53% | Shares |
| MILLENNIUM MANAGEMENT LLC | $279,799,037 | 2,818,282 | 0.51% | Shares |
| National Pension Service | $268,576,227 | 2,705,240 | 0.49% | Shares |
| WOLVERINE TRADING, LLC | $261,085,875 | 277,500 | 0.48% | Call option |
| VANGUARD GROUP INC | $256,565,523 | 1,674,819 | 0.47% | Shares |
| NORDEA INVESTMENT MANAGEMENT AB | $251,562,407 | 2,581,716 | 0.46% | Shares |
| Capital International Investors | $245,607,361 | 2,473,884 | 0.45% | Shares |
| BlackRock, Inc. | $238,956,833 | 2,406,898 | 0.44% | Shares |
| WESTFIELD CAPITAL MANAGEMENT CO LP | $235,661,989 | 2,373,711 | 0.43% | Shares |
| Sumitomo Mitsui Trust Group, Inc. | $227,855,542 | 2,295,080 | 0.42% | Shares |
| WELLCOME TRUST LTD (THE) as trustee of the WELLCOME TRUST | $223,380,000 | 2,250,000 | 0.41% | Shares |
| BLAIR WILLIAM & CO/IL | $222,079,629 | 2,236,902 | 0.41% | Shares |
| Vanguard Global Advisers, LLC | $220,973,453 | 2,225,760 | 0.41% | Shares |
| Balyasny Asset Management L.P. | $220,775,290 | 2,223,764 | 0.40% | Shares |
| ALLIANCEBERNSTEIN L.P. | $219,964,941 | 2,103,921 | 0.40% | Shares |
| CANADA PENSION PLAN INVESTMENT BOARD | $213,215,614 | 2,147,619 | 0.39% | Shares |
| Legal & General Group Plc | $212,638,599 | 2,141,807 | 0.39% | Shares |
| ENVESTNET ASSET MANAGEMENT INC | $211,989,488 | 2,135,278 | 0.39% | Shares |
| BANK OF NOVA SCOTIA | $209,071,077 | 2,105,880 | 0.38% | Shares |
| LPL Financial LLC | $207,280,165 | 2,087,834 | 0.38% | Shares |
| BANK OF AMERICA CORP /DE/ | $201,533,635 | 2,029,952 | 0.37% | Shares |
| VANGUARD ASSET MANAGEMENT, Ltd | $200,676,352 | 2,021,317 | 0.37% | Shares |
| Eurizon Capital SGR S.p.A. | $188,218,615 | 1,893,020 | 0.35% | Shares |
| DNB Asset Management AS | $186,286,014 | 1,876,370 | 0.34% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $183,171,699 | 1,845,001 | 0.34% | Shares |
| NOMURA ASSET MANAGEMENT INTERNATIONAL INC. | $183,168,000 | 1,844,968 | 0.34% | Shares |
| SATURNA CAPITAL CORP | $180,681,485 | 1,626,465 | 0.33% | Shares |
| CANTOR FITZGERALD, L. P. | $180,585,654 | 1,818,953 | 0.33% | Shares |
| California Public Employees Retirement System | $180,280,566 | 1,815,880 | 0.33% | Shares |
| Assenagon Asset Management S.A. | $179,871,533 | 1,811,760 | 0.33% | Shares |
| RHUMBLINE ADVISERS | $176,332,668 | 1,776,116 | 0.32% | Shares |
| WOLVERINE TRADING, LLC | $175,468,525 | 186,500 | 0.32% | Put option |
| LORING WOLCOTT & COOLIDGE FIDUCIARY ADVISORS LLP/MA | $172,658,589 | 1,739,105 | 0.32% | Shares |
| Squarepoint Ops LLC | $171,362,443 | 1,726,052 | 0.31% | Shares |
| Polar Capital Holdings Plc | $168,237,207 | 1,694,573 | 0.31% | Shares |
| RGM Capital, LLC | $167,864,836 | 1,095,795 | 0.31% | Shares |
| JANE STREET GROUP, LLC | $166,160,071 | 1,673,651 | 0.30% | Shares |
| CANTOR FITZGERALD, L. P. | $163,812,000 | 1,650,000 | 0.30% | Put option |
| JONES FINANCIAL COMPANIES LLLP | $162,642,047 | 1,653,875 | 0.30% | Shares |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM | $160,229,880 | 1,532,567 | 0.29% | Shares |
| UBS Group AG | $158,820,996 | 1,599,728 | 0.29% | Shares |
| MENORA MIVTACHIM HOLDINGS LTD. | $154,241,408 | 1,553,600 | 0.28% | Shares |
| WILLIAM BLAIR INVESTMENT MANAGEMENT, LLC | $154,002,342 | 1,551,192 | 0.28% | Shares |
| Alecta Tjanstepension Omsesidigt | $144,874,638 | 1,459,400 | 0.27% | Shares |
| Universal- Beteiligungs- und Servicegesellschaft mbH | $144,129,400 | 1,444,157 | 0.26% | Shares |
| Standard Investments LLC | $142,466,800 | 1,435,000 | 0.26% | Shares |
| Alyeska Investment Group, L.P. | $141,965,734 | 1,429,953 | 0.26% | Shares |
| CITIGROUP INC | $141,523,640 | 1,425,500 | 0.26% | Call option |
| Ensign Peak Advisors, Inc | $140,395,918 | 1,414,141 | 0.26% | Shares |
| AVIVA PLC | $138,468,199 | 1,394,724 | 0.25% | Shares |
| MILLENNIUM MANAGEMENT LLC | $132,012,616 | 1,329,700 | 0.24% | Put option |
| Sustainable Growth Advisers, LP | $131,872,532 | 1,328,289 | 0.24% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $130,713,115 | 1,250,245 | 0.24% | Shares |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. | $130,235,504 | 1,311,800 | 0.24% | Shares |
| TUDOR INVESTMENT CORP ET AL | $128,239,976 | 1,291,700 | 0.24% | Put option |
| SUSQUEHANNA ADVISORS GROUP, INC. | $128,100,984 | 1,290,300 | 0.23% | Shares |
| SUSQUEHANNA ADVISORS GROUP, INC. | $128,100,984 | 1,290,300 | 0.23% | Put option |
| DIMENSIONAL FUND ADVISORS LP | $127,683,697 | 1,286,098 | 0.23% | Shares |
| AKRE CAPITAL MANAGEMENT LLC | $123,712,709 | 1,246,099 | 0.23% | Shares |
| Candriam S.C.A. | $123,669,458 | 1,246,863 | 0.23% | Shares |
| Artisan Partners Limited Partnership | $122,286,055 | 1,231,729 | 0.22% | Shares |
| Zurcher Kantonalbank (Zurich Cantonalbank) | $116,445,413 | 1,172,899 | 0.21% | Shares |
| Freestone Grove Partners LP | $115,893,614 | 1,167,341 | 0.21% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $115,471,079 | 1,163,085 | 0.21% | Shares |
| BAIN CAPITAL VENTURE INVESTORS, LLC | $113,656,737 | 1,144,810 | 0.21% | Shares |
| SCGE MANAGEMENT, L.P. | $112,682,800 | 1,135,000 | 0.21% | Shares |
| RAYMOND JAMES FINANCIAL INC | $106,351,317 | 1,071,226 | 0.19% | Shares |
| Fayez Sarofim & Co | $104,540,549 | 1,052,987 | 0.19% | Shares |
| Retirement Systems of Alabama | $103,787,709 | 1,045,404 | 0.19% | Shares |
| CI INVESTMENTS INC. | $103,190,937 | 1,039,393 | 0.19% | Shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | $100,858,552 | 1,015,900 | 0.18% | Call option |
| MANNING & NAPIER ADVISORS LLC | $99,660,893 | 996,908 | 0.18% | Shares |
| Focus Partners Wealth | $97,754,592 | 984,634 | 0.18% | Shares |
| FIRST TRUST ADVISORS LP | $97,383,165 | 980,894 | 0.18% | Shares |
| DAVENPORT & Co LLC | $97,104,302 | 976,685 | 0.18% | Shares |
Company insiders 45 insiders · 7 officers · 7 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| William R Mcdermott | Chairman & CEO | Aug. 17, 2026 M | 184,199 | 2 | 20 | $-2,339,217 |
| Gina Mastantuono | President and CFO | Aug. 17, 2026 M | 109,256 | 0 | 0 | $0 |
| Paul Fipps | President, Global Customer Ops | Aug. 17, 2026 M | 20,339 | 0 | 0 | $0 |
| Amit Zavery | President, CPO and COO | Aug. 14, 2026 M | 86,065 | 0 | 0 | $0 |
| Danielle Fontaine | Principal Accounting Officer | Aug. 17, 2026 M | 10,887 | 0 | 0 | $0 |
| Jacqueline P Canney | Chief People & AI Enblmt. Off. | Aug. 17, 2026 M | 37,889 | 0 | 0 | $0 |
| Hossein Nowbar | Pres. & Chief Legal Officer | Aug. 14, 2026 M | 8,514 | 0 | 0 | $0 |
| Eric S. Yuan | Director | June 15, 2026 A | 2,747 | 0 | 0 | $0 |
| Teresa Briggs | Director | May 28, 2026 S | 11,010 | 0 | 1 | $-173,376 |
| Susan L Bostrom | Director | May 21, 2026 A | 21,685 | 0 | 0 | $0 |
| Paul V Barber | Director | June 8, 2016 A | 1,930 | 0 | 0 | $0 |
| Charles Noell III | Director | Feb. 19, 2014 S | 563,255 | 0 | 0 | $0 |
| John J Moores | Director | March 18, 2013 S | 3,283,620 | 0 | 0 | $0 |
| Paul Edward Chamberlain | — | Aug. 13, 2026 S | 46,690 | 0 | 1 | $-188,400 |
| Frederic B Luddy | — | May 21, 2026 A | 4,855 | 0 | 0 | $0 |
| Russell S Elmer | — | Feb. 9, 2026 A | 28,819 | 0 | 4 | $-377,999 |
| Anita M Sands | — | July 3, 2025 S | 10,404 | 0 | 0 | $0 |
| Kevin Thomas Mcbride | — | June 3, 2025 S | 4,484 | 0 | 0 | $0 |
| Nicholas Tzitzon | — | May 30, 2025 S | 3,000 | 0 | 0 | $0 |
| Larry Quinlan | — | May 22, 2025 A | 1,641 | 0 | 0 | $0 |
| Lawrence Jackson | — | May 22, 2025 A | 1,345 | 0 | 0 | $0 |
| Jonathan Chadwick | — | May 22, 2025 A | 3,524 | 0 | 0 | $0 |
| Deborah Black | — | April 25, 2025 S | 428 | 0 | 0 | $0 |
| Paul John Smith | — | Feb. 19, 2025 S | 5,224 | 0 | 0 | $0 |
| Jeffrey A Miller | — | Feb. 7, 2025 S | 40,638 | 0 | 0 | $0 |
| Christopher Bedi | — | June 5, 2024 S | 15,892 | 0 | 0 | $0 |
| Chirantan Jitendra Desai | — | May 17, 2024 M | 47,145 | 0 | 0 | $0 |
| Lara Caimi | — | May 22, 2023 S | 98 | 0 | 0 | $0 |
| Sukumar Rathnam | — | June 9, 2022 A | 1,075 | 0 | 0 | $0 |
| Dennis Woodside | — | June 9, 2022 A | 2,944 | 0 | 0 | $0 |
| Kevin Haverty | — | Jan. 24, 2022 A | 17,640 | 0 | 0 | $0 |
| Fay Sien Goon | — | Aug. 20, 2021 S | 4,498 | 0 | 0 | $0 |
| Gabrielle B Toledano | — | Feb. 8, 2021 A | — | 0 | 0 | $0 |
| Patricia L Wadors | — | Aug. 17, 2020 M | 0 | 0 | 0 | $0 |
| Tamar Yehoshua | — | June 17, 2020 A | 2,356 | 0 | 0 | $0 |
| David Schneider | — | May 15, 2020 M | 36,858 | 0 | 0 | $0 |
| John J Donahoe | — | May 12, 2020 M | 43,826 | 0 | 0 | $0 |
| Michael Scarpelli | — | Aug. 12, 2019 M | 0 | 0 | 0 | $0 |
| Ronald E F Codd | — | Feb. 1, 2019 M | 28,428 | 0 | 0 | $0 |
| Frank Slootman | — | June 1, 2018 M | 95,076 | 0 | 0 | $0 |
| Charles H Giancarlo | — | June 13, 2017 A | 19,237 | 0 | 0 | $0 |
| William L Strauss | — | June 8, 2017 M | 9,279 | 0 | 0 | $0 |
| Daniel Mcgee | — | Nov. 11, 2016 M | 10,103 | 0 | 0 | $0 |
| DOUGLAS LEONE ("DL") | — | Aug. 6, 2015 M | 488,787 | 0 | 0 | $0 |
| Arne Josefsberg | — | June 3, 2013 M | 34,656 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 258 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| CLOU · Global X Funds | 4.77% | 103,113 NS | May 31, 2026 | N-PORT |
| IGV · iShares Trust | 4.57% | 4,950,201 SH | Aug. 21, 2026 | Daily |
| AGIQ · Tidal Trust I | 4.12% | 3,755 NS | May 31, 2026 | N-PORT |
| NITE · Capitol Series Trust | 3.72% | 12,853 NS | April 30, 2026 | N-PORT |
| AIPI · ETF Opportunities Trust | 3.43% | 120,303 NS | May 31, 2026 | N-PORT |
| PABU · iShares Trust | 2.63% | 510,186 SH | Aug. 21, 2026 | Daily |
| SXQG · EXCHANGE TRADED CONCEPTS TRUST | 2.49% | 13,544 NS | May 31, 2026 | N-PORT |
| LGRO · ALPS ETF Trust | 2.39% | 25,936 NS | May 31, 2026 | N-PORT |
| RUNN · Strategic Trust | 2.36% | 65,720 NS | May 31, 2026 | N-PORT |
| FTCE · First Trust Exchange-Traded Fund VI | 2.28% | 18,651 NS | June 30, 2026 | N-PORT |
| IVES · Wedbush Series Trust | 2.10% | 237,587 NS | April 30, 2026 | N-PORT |
| FTGS · First Trust Exchange-Traded Fund | 2.04% | 256,766 NS | June 30, 2026 | N-PORT |
| FGSI · First Trust Exchange-Traded Fund IV | 1.86% | 630 NS | April 30, 2026 | N-PORT |
| FAI · First Trust Exchange-Traded Fund II | 1.83% | 17,929 NS | June 30, 2026 | N-PORT |
| CARK · Advisors' Inner Circle Fund II | 1.82% | 63,615 NS | April 30, 2026 | N-PORT |
| SEMG · EA Series Trust | 1.77% | 12,112 NS | April 30, 2026 | N-PORT |
| ESMV · iShares Trust | 1.74% | 1,065 SH | Aug. 21, 2026 | Daily |
| XPND · First Trust Exchange-Traded Fund VI… | 1.66% | 5,495 NS | May 31, 2026 | N-PORT |
| OGIG · ALPS ETF Trust | 1.61% | 14,931 NS | May 31, 2026 | N-PORT |
| RSPT · Invesco Exchange-Traded Fund Trust | 1.60% | 716,113 SH | Aug. 21, 2026 | Daily |
| ILDR · First Trust Exchange-Traded Fund VI… | 1.57% | 36,204 NS | May 31, 2026 | N-PORT |
| SKYY · First Trust Exchange-Traded Fund II | 1.57% | 428,748 NS | June 30, 2026 | N-PORT |
| ABOT · Abacus FCF ETF Trust | 1.40% | 701 NS | April 30, 2026 | N-PORT |
| TMFE · RBB Fund, Inc. | 1.39% | 9,500 NS | May 31, 2026 | N-PORT |
| AGRW · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 1.36% | 16,436 NS | April 30, 2026 | N-PORT |
| RILA · Spinnaker ETF Series | 1.34% | 6,347 NS | April 30, 2026 | N-PORT |
| NULG · Nushares ETF Trust | 1.25% | 369,687 NS | April 30, 2026 | N-PORT |
| CAML · Professionally Managed Portfolios | 1.25% | 53,020 NS | April 30, 2026 | N-PORT |
| ACGR · AMERICAN CENTURY ETF TRUST | 1.24% | 1,141 NS | May 31, 2026 | N-PORT |
| LCAP · Principal Exchange-Traded Funds | 1.20% | 220,138 NS | June 30, 2026 | N-PORT |
| ROBT · First Trust Exchange-Traded Fund VI | 1.19% | 87,787 NS | June 30, 2026 | N-PORT |
| EQWL · Invesco Exchange-Traded Fund Trust | 1.15% | 249,564 SH | Aug. 21, 2026 | Daily |
| GPTY · Tidal Trust II | 1.14% | 11,855 NS | April 30, 2026 | N-PORT |
| LOWV · AB Active ETFs, Inc. | 1.08% | 17,784 NS | May 31, 2026 | N-PORT |
| BKCG · BNY Mellon ETF Trust II | 1.07% | 14,326 NS | April 30, 2026 | N-PORT |
| TECB · iShares Trust | 1.04% | 39,167 SH | Aug. 21, 2026 | Daily |
| DTEC · ALPS ETF Trust | 0.99% | 5,896 NS | May 31, 2026 | N-PORT |
| EGUS · iShares Trust | 0.97% | 2,085 SH | Aug. 21, 2026 | Daily |
| USMV · iShares Trust | 0.96% | 1,791,643 SH | Aug. 21, 2026 | Daily |
| AIQ · Global X Funds | 0.94% | 823,291 NS | May 31, 2026 | N-PORT |
| SKYU · ProShares Trust | 0.92% | 266 NS | May 31, 2026 | N-PORT |
| ESLG · Strategy Shares | 0.89% | 1,964 NS | April 30, 2026 | N-PORT |
| SNPV · DBX ETF Trust | 0.89% | 16,457 NS | May 29, 2026 | N-PORT |
| IETC · iShares U.S. ETF Trust | 0.85% | 45,800 SH | Aug. 21, 2026 | Daily |
| TMFG · RBB Fund, Inc. | 0.84% | 24,064 NS | May 31, 2026 | N-PORT |
| AOTG · EA Series Trust | 0.78% | 6,540 NS | May 29, 2026 | N-PORT |
| ALRG · ALLSPRING EXCHANGE-TRADED FUNDS TRU… | 0.76% | 640 NS | April 30, 2026 | N-PORT |
| LCOW · Pacer Funds Trust | 0.76% | 1,966 NS | April 30, 2026 | N-PORT |
| HAPI · Harbor ETF Trust | 0.73% | 38,811 NS | April 30, 2026 | N-PORT |
| KRMA · Global X Funds | 0.72% | 6,969 NS | May 31, 2026 | N-PORT |