ServiceNow’s growth is slowing. That’s the headline investors focus on. But beneath the surface something unusual is happening. The business is getting stronger as the market becomes more cautious.
Thanks for adding this: TTD is another great example that shows slowing or normalizing sales growth, margin expansion, improving balance sheet strength and rising capital efficiency while the stock dropped (even more than NOW). But there is a subtle difference: TDD sales slow more drastically and cash generation is weaker and less predictable as capex increases notably. Recently, net debt rose again – all nothing alarming but it adds uncertainty.
Have you taken a look at TTD? It seems like what you're describing but at half the valuation.
Thanks for adding this: TTD is another great example that shows slowing or normalizing sales growth, margin expansion, improving balance sheet strength and rising capital efficiency while the stock dropped (even more than NOW). But there is a subtle difference: TDD sales slow more drastically and cash generation is weaker and less predictable as capex increases notably. Recently, net debt rose again – all nothing alarming but it adds uncertainty.