Gartner Inc
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Gartner Inc AI Insights
Informational only. Not investment advice.Snapshot
- Goodwill of 2.8B is 501% of equity (556M) - tangible book value is -2.6B, creating material impairment risk from any acquisition writedown.[Goodwill]
- ROE TTM of 109% driven by 5.0x debt/equity leverage - equity base of just 557M supports 6.5B revenue, amplifying returns but also risk.[Return on Equity TTM]
- FCF TTM of 1.2B (19% margin) funds 1.1B buybacks annually - shares declining while debt/equity at 5x limits further leverage capacity.[Free Cash Flow TTM]
Watch Triggers
- Goodwill: Impairment charge >5% of goodwill (>140M) — Would eliminate ~25% of annual net income and signal overpayment for acquisitions
- Free Cash Flow TTM: FCF margin falls below 15% — Would force choice between buybacks and debt reduction given 5x leverage
- Debt to Equity: Rises above 6.0x — Approaching levels that could trigger covenant concerns or rating downgrades
Bull Case
Operating margin 18% TTM vs industry median of 0% - pricing power in research/advisory creates durable competitive moat with 68% gross margins.
ROIC of 24% TTM vs industry median -22% demonstrates exceptional capital efficiency; generates 1.2B FCF on just 3B invested capital.
Bear Case
Negative tangible equity (-2.6B) with goodwill at 501% of book value - any impairment directly hits already thin equity cushion of 557M.
168M asset impairment charge TTM signals acquisition integration challenges; 150M special charges add to earnings quality concerns.
Bull vs Bear Balance
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Forward Thesis
Capital return machine will sustain 10%+ annual share count reduction through FCF-funded buybacks
- 1.2B FCF vs 1.1B buybacks TTM is sustainable
- Low capex (1.8% of revenue) preserves cash
- Subscription model provides visibility
Leverage ratio constrains future M&A optionality despite strong cash generation
- Debt/equity already at 5.0x
- 2.8B debt vs 557M equity
- Interest expense 115M (10% of operating income)
Valuation Context
Caveats
Public Strategies Rankings
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IT Fundamentals
| Metric | Value | YoY Growth | Industry Percentile |
|---|---|---|---|
$11.39B | — | ||
$13.01B | — | ||
16 | — | ||
$6.5B | +3.7% | — | |
$9.65 | -11.2% | — | |
18.1% | -0.4% | — | |
11.2% | -8.8% | — | |
$1.18B | -15.0% | — | |
86.9% | -36.1% | — | |
Beta 5Y (Monthly) | unknown | — |
IT Dividend History
IT Stock Splits
IT SEC Filings
| Filing Date | Report Date | Report Type | Filing Link |
|---|---|---|---|
02/12/26 | 12/31/25 | 10-K | |
11/04/25 | 09/30/25 | 10-Q | |
08/05/25 | 06/30/25 | 10-Q | |
05/06/25 | 03/31/25 | 10-Q | |
02/13/25 | 12/31/24 | 10-K | |
11/05/24 | 09/30/24 | 10-Q | |
07/30/24 | 06/30/24 | 10-Q | |
04/30/24 | 03/31/24 | 10-Q | |
02/15/24 | 12/31/23 | 10-K | |
11/03/23 | 09/30/23 | 10-Q | |
08/01/23 | 06/30/23 | 10-Q | |
05/02/23 | 03/31/23 | 10-Q | |
02/16/23 | 12/31/22 | 10-K | |
11/01/22 | 09/30/22 | 10-Q | |
08/02/22 | 06/30/22 | 10-Q | |
05/03/22 | 03/31/22 | 10-Q | |
02/23/22 | 12/31/21 | 10-K | |
11/02/21 | 09/30/21 | 10-Q | |
08/03/21 | 06/30/21 | 10-Q | |
05/04/21 | 03/31/21 | 10-Q | |
02/24/21 | 12/31/20 | 10-K | |
11/03/20 | 09/30/20 | 10-Q | |
08/04/20 | 06/30/20 | 10-Q | |
05/07/20 | 03/31/20 | 10-Q | |
02/19/20 | 12/31/19 | 10-K | |
10/31/19 | 09/30/19 | 10-Q | |
07/30/19 | 06/30/19 | 10-Q | |
05/07/19 | 03/31/19 | 10-Q | |
02/22/19 | 12/31/18 | 10-K | |
11/01/18 | 09/30/18 | 10-Q | |
08/01/18 | 06/30/18 | 10-Q | |
05/08/18 | 03/31/18 | 10-Q | |
02/22/18 | 12/31/17 | 10-K | |
11/02/17 | 09/30/17 | 10-Q | |
08/08/17 | 06/30/17 | 10-Q | |
05/04/17 | 03/31/17 | 10-Q | |
02/22/17 | 12/31/16 | 10-K | |
11/03/16 | 09/30/16 | 10-Q | |
08/04/16 | 06/30/16 | 10-Q | |
05/05/16 | 03/31/16 | 10-Q | |
02/24/16 | 12/31/15 | 10-K | |
11/05/15 | 09/30/15 | 10-Q | |
07/30/15 | 06/30/15 | 10-Q | |
05/07/15 | 03/31/15 | 10-Q | |
02/27/15 | 12/31/14 | 10-K | |
11/06/14 | 09/30/14 | 10-Q | |
08/05/14 | 06/30/14 | 10-Q | |
05/01/14 | 03/31/14 | 10-Q | |
02/26/14 | 12/31/13 | 10-K | |
11/07/13 | 09/30/13 | 10-Q | |
08/02/13 | 06/30/13 | 10-Q | |
05/02/13 | 03/31/13 | 10-Q | |
02/22/13 | 12/31/12 | 10-K | |
11/06/12 | 09/30/12 | 10-Q | |
08/03/12 | 06/30/12 | 10-Q | |
05/03/12 | 03/31/12 | 10-Q | |
02/23/12 | 12/31/11 | 10-K | |
11/01/11 | 09/30/11 | 10-Q | |
08/02/11 | 06/30/11 | 10-Q | |
05/05/11 | 03/31/11 | 10-Q | |
02/15/11 | 12/31/10 | 10-K | |
11/03/10 | 09/30/10 | 10-Q | |
08/09/10 | 06/30/10 | 10-Q | |
05/05/10 | 03/31/10 | 10-Q | |
02/19/10 | 12/31/09 | 10-K | |
10/30/09 | 09/30/09 | 10-Q | |
08/04/09 | 06/30/09 | 10-Q | |
05/08/09 | 03/30/09 | 10-Q | |
02/20/09 | 12/31/08 | 10-K | |
10/30/08 | 09/30/08 | 10-Q | |
07/30/08 | 06/30/08 | 10-Q | |
05/08/08 | 03/30/08 | Unknown | -- |
02/28/08 | 12/31/07 | 10-K | |
10/30/07 | 09/30/07 | 10-Q | |
07/31/07 | 06/30/07 | 10-Q | |
05/03/07 | 03/30/07 | Unknown | -- |
03/01/07 | 12/31/06 | 10-K | |
10/31/06 | 09/30/06 | 10-Q | |
08/01/06 | 06/30/06 | 10-Q | |
05/03/06 | 03/30/06 | Unknown | -- |
03/13/06 | 12/31/05 | 10-K | |
11/09/05 | 09/30/05 | 10-Q | |
08/09/05 | 06/30/05 | 10-Q | |
05/10/05 | 03/30/05 | Unknown | -- |
03/16/05 | 12/31/04 | 10-K | |
11/08/04 | 09/30/04 | 10-Q | |
08/03/04 | 06/30/04 | DEF 14A | |
05/04/04 | 03/30/04 | Unknown | -- |
03/12/04 | 12/31/03 | 5 | |
11/14/03 | 09/30/03 | 4 | |
08/14/03 | 06/30/03 | 10-Q | |
05/15/03 | 03/30/03 | Unknown | -- |
03/31/03 | 12/31/02 | 10-KT | |
12/27/02 | 09/30/02 | 10-K | |
08/09/02 | 06/30/02 | 10-Q | |
05/14/02 | 03/30/02 | Unknown | -- |
02/13/02 | 12/31/01 | 10-Q | |
12/28/01 | 09/30/01 | 10-K | |
08/13/01 | 06/30/01 | 10-Q | |
05/15/01 | 03/30/01 | Unknown | -- |
02/14/01 | 12/31/00 | 10-Q | |
12/29/00 | 09/30/00 | 10-K | |
08/14/00 | 06/30/00 | 10-Q | |
05/12/00 | 03/30/00 | Unknown | -- |