Aug. 8 at 7:02 PM
$NOW $SAP $MSFT
So to put things in perspective
Here is an overview of BILL as CEO of SAP from 2010-2019
* 2010 Revenue:
$16 Billion
* 2019 Revenue:
$32 Billion
* Revenue nearly doubled during his tenure
*MC grew from roughly
$40B to
$160B from 2009-2019
What’s particularly interesting is that SAP’s MC increased roughly 4X while revenue increased about 1.8x–1.9x. That says investors were rewarding the cloud transformation and future growth prospects, not just current revenue. The valuation multiple expanded significantly during McDermott’s leadership.
For ServiceNow investors, the comparison is interesting because NOW has already grown from roughly
$3.5 billion revenue in 2019 to well over
$15 billion annual revenue today, which is a faster growth trajectory than SAP achieved during much of the McDermott era
The question is whether he can continue scaling NOW toward the
$30B+ revenue range over the next decade.
I say yes!
