Gartner Cash Flow Statement

Financials in millions USD. Fiscal year is January - December.

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	729.23	1,254	882.47	807.8	793.56
Depreciation & Amortization	200.31	202.32	191.1	191.95	212.41
Stock-Based Compensation	155.88	154.78	129.84	90.57	98.57
Other Adjustments	223.59	-84.71	-108.24	45.62	67.05
Change in Receivables	38.03	-137.77	-24.66	-240.7	-145.35
Changes in Accounts Payable	-10.8	29.4	-28.55	-101.91	121.24
Changes in Unearned Revenue	-41.94	181.18	169.92	297.12	324.06
Changes in Other Operating Activities	-3.93	-113.99	-56.14	10.98	-159.07
Operating Cash Flow	1,290	1,485	1,156	1,101	1,312
Operating Cash Flow Growth	-13.10%	28.48%	4.93%	-16.08%	45.30%
Capital Expenditures	-115.14	-101.74	-103.12	-108.05	-59.83
Payments for Business Acquisitions	-	-2	-3.8	-9.51	-22.94
Proceeds from Business Divestments	-	-	161.08	-	-
Other Investing Activities	-	-	-	-	2.31
Investing Cash Flow	-115.14	-103.74	54.16	-117.56	-80.47
Short-Term Debt Issued	-	274.4	-	-	-
Short-Term Debt Repaid	-274.4	-	-	-	-5
Net Short-Term Debt Issued (Repaid)	-274.4	274.4	-	-	-5
Long-Term Debt Issued	799.86	-	-	-	600
Long-Term Debt Repaid	-	-274.4	-7.8	-5.93	-107.92
Net Long-Term Debt Issued (Repaid)	799.86	-274.4	-7.8	-5.93	492.09
Issuance of Common Stock	32.45	28.19	25.11	22.23	18.17
Repurchase of Common Stock	-1,991	-735.36	-606.19	-1,044	-1,656
Net Common Stock Issued (Repurchased)	-1,959	-707.17	-581.08	-1,022	-1,637
Other Financing Activities	-6.48	-2.97	-	-	-7.32
Financing Cash Flow	-1,440	-710.14	-588.88	-1,027	-1,158
Effect of Exchange Rate Changes on Cash and Cash Equivalents	53.87	-57.49	-0.01	-18.43	-26.38
Net Cash Flow	-264.5	671.04	621.01	-43.58	74.39
Free Cash Flow	1,175	1,383	1,053	993.37	1,253
Free Cash Flow Growth	-15.04%	31.41%	5.96%	-20.70%	52.87%
FCF Margin	18.09%	22.07%	17.82%	18.14%	26.46%
Free Cash Flow Per Share	15.54	17.66	13.21	12.25	14.54
Levered Free Cash Flow	1,283	1,451	1,048	1,092	1,719
Unlevered Free Cash Flow	801.11	1,242	1,125	1,155	1,188

Updated Dec 31, 2025. Data Source: Fiscal.ai. Standard template. Financial Sources.