ServiceNow Inc (NOW) is slightly undervalued and Uber Technologies Inc (UBER) is undervalued.
Against our estimates of intrinsic value, UBER trades at the wider discount: a margin of safety of +70%, against +9% for NOW.
Values as of the 22 Sept 2026 close.
A 10.4x revenue multiple, adjusted for growth and margin, values the shares at $150.34; the price of $137.00 is 9% below that value.
Leak Score 58/100 on 10 of 12 signals
A 8.8x revenue multiple, adjusted for growth and margin, values the shares at $236.26; the price of $69.89 is 70% below that value.
Leak Score 75/100 on 10 of 12 signals
| Metric | NOW | UBER |
|---|---|---|
| Verdict | Slightly undervalued | Undervalued |
| Price | $137.00 | $69.89 |
| Intrinsic value | $150.34 | $236.26 |
| Margin of safety | +9% | +70% |
| Leak Score | 58/100 (10/12) | 75/100 (10/12) |
| Market cap | $141.7B | $142.8B |
| Revenue growth, 5 years | 24.1% | 36.1% |
| Operating margin | 13.6% | 13.3% |
| Net margin | 11.3% | 17.3% |
| Return on equity | 14.2% | 38.4% |
| Debt to equity | 0.68 | 0.54 |
| P/E | 85.6x | 15.4x |
| Forward P/E | 27.3x | 15.8x |
| P/B | 11.3x | 5.2x |