NOW earnings

Analysis, not advice

This is a Technology sector Fast Grower generating ~$14B in trailing revenue with a 22% three-year revenue CAGR and operating margins around 13.4%, recently upgraded from Neutral to Buy by an analyst. The setup pits a premium valuation (~91x trailing earnings) against an accelerating growth and margin expansion story.

This print

28 Oct 2026reported — not yet graded

cons 1.02 EPS / 4.09B rev

Next scheduled print 27 Jan 2027. Nothing on this page is about that print yet.

What the desk tested

Explicit conditions that would change the desk’s view — grading follows the transcript.

Bull condition (test): Look for durable subscription demand, separately measurable Now Assist monetization and improving GAAP/cash economics together; these are this brief’s proposed tests, not new ap…

Bear condition (test): Assess customer expansion, subscription growth and competitive displacement against their exact multi-period rules below, rather than interpreting one weak quarter as every cond…

From the desk's pre-read · 28 Oct 2026

NOW reports on 2026-10-28; supplied FMP consensus is 1.02 EPS / 4.09B rev, with the EPS accounting basis unspecified.

＋1 more — the full pre-read is on the desksign up free

The desk's graded verdict

The 28 Oct 2026 print is not graded yet. It lands here once the desk has published against the transcript.

Bull case

A sustained 20%+ revenue CAGR with gradually expanding operating margins could justify the premium multiple if the company continues to scale its earnings base.

Bear case

At ~91x trailing earnings, there is little room for error — any deceleration in growth or margin pressure could compress the multiple significantly.

This page shows one print. The desk has published work on 1 earlier print of NOW.

Educational analysis, not a personalised recommendation. See all covered names on the earnings calendar · part of our public track record.