Mission Statement, Vision, & Core Values (2024) of Gartner, Inc. (IT).

An Overview of Gartner, Inc. (IT)

General Summary of Gartner, Inc. (IT)

Gartner, Inc. is a leading research and advisory company that provides insights, advice, and tools for leaders in IT, finance, marketing, operations, and other business functions. Founded in 1979, Gartner has established itself as a premier source of information and analysis in the technology sector. The company operates through three primary segments: Research, Conferences, and Consulting.

As of 2024, Gartner's sales are primarily driven by its Research segment, which recorded revenues of $3.8 billion for the nine months ended September 30, 2024, representing a 5% increase from the previous year. The Conferences segment generated revenues of $331.9 million for the same period, marking a 14% increase year-over-year. The Consulting segment's revenues were $405.3 million, a 5% increase compared to the previous year.

Company's Financial Performance in the Latest Financial Reports

In the third quarter of 2024, Gartner reported total revenues of $1.5 billion, an increase of 5% compared to $1.4 billion in Q3 2023. The net income for the three months ended September 30, 2024, was $415.0 million, up from $180.0 million in the same quarter of the previous year, resulting in a diluted income per share of $5.32 compared to $2.26.

For the nine months ended September 30, 2024, Gartner's net income reached $855.1 million, a 27% increase from $673.8 million in the prior year. The increase in net income was attributed to a $300 million gain from event cancellation insurance claims.

Operating income for the three months ended September 30, 2024, was $245.8 million, slightly higher than $244.4 million in the previous year. However, for the nine months ended September 30, 2024, operating income decreased to $838.5 million from $935.5 million in 2023, primarily due to increased operating expenses.

Introduction to Gartner as a Leader in the Industry

Gartner is recognized as one of the foremost leaders in research and advisory services, particularly in the IT sector. The company has built a robust reputation for providing data-driven insights that help organizations make informed decisions. Gartner's extensive research capabilities and deep understanding of technology trends position it as a trusted partner for businesses seeking to navigate complex environments.

In 2024, Gartner's contract value reached $5.0 billion, reflecting a 7% increase compared to the previous year. This growth is supported by high client retention rates, with Global Technology Sales client retention at 83% and Global Business Sales client retention at 87%.

Gartner's success can be attributed to its commitment to delivering actionable insights and maintaining strong client relationships, ensuring that it remains at the forefront of the industry.

Mission Statement of Gartner, Inc. (IT)

Mission Statement of Gartner, Inc. (IT)

The mission statement of Gartner, Inc. emphasizes the company's commitment to delivering actionable insights, objective guidance, and tools that empower executives and their teams across various industries. This mission is pivotal as it guides Gartner's long-term goals, shaping strategic decisions and operational focus.

Core Component 1: Delivering Actionable Insights

Gartner’s mission encompasses the delivery of actionable insights that help organizations make informed decisions. In 2024, Gartner's total revenues reached $4.6 billion, reflecting a 5% increase compared to the previous year. This growth is primarily driven by the Research segment, where revenues increased by 5% to $3.8 billion for the nine months ended September 30, 2024.

Core Component 2: Objective Guidance

Gartner's mission also highlights the importance of providing objective guidance to its clients. The company reported a net income of $855.1 million for the nine months ended September 30, 2024, which is a 27% increase from $673.8 million in the previous year. This increase is attributed to improved operational efficiency and a higher client retention rate of 83% for Global Technology Sales.

Core Component 3: Empowering Teams Across Industries

The mission statement underscores Gartner's commitment to empowering teams across various industries. The company has seen a significant increase in its client base, with contract value reaching $5.0 billion as of September 30, 2024, marking a 7% increase from the previous year. This growth is particularly pronounced in sectors such as healthcare and manufacturing, showcasing Gartner's broad industry impact.

Gartner's mission statement is a reflection of its dedication to providing high-quality products and services, which is evidenced by its robust financial performance and strategic focus on delivering value to its clients in an increasingly competitive market.

Vision Statement of Gartner, Inc. (IT)

Vision Statement Overview

The vision statement of Gartner, Inc. emphasizes its commitment to being the leading research and advisory company that helps clients make informed decisions in the technology sector. As of 2024, Gartner's vision is centered around three key components: innovation, customer-centricity, and global impact.

Innovation

Gartner's vision of innovation focuses on leveraging cutting-edge research methodologies and advanced technologies to provide actionable insights. The company invests significantly in its research capabilities, with total revenues reaching $4.55 billion for the nine months ended September 30, 2024, representing a 5% increase from the previous year. In 2024, Gartner's Research segment alone generated $3.81 billion in revenue, reflecting a growth rate of 5% year-over-year.

Customer-Centricity

Gartner’s vision underscores a strong focus on understanding and anticipating customer needs. The company achieved a client retention rate of 83% for Global Technology Sales and 87% for Global Business Sales as of September 30, 2024. This commitment is further evidenced by the increase in contract values, with the total contract value reaching $5.04 billion, a 7% increase year-over-year.

Global Impact

Gartner aims to have a significant global impact by driving technology improvements across various industries. The company held 38 in-person destination conferences in 2024, up from 36 in 2023, illustrating its commitment to fostering industry collaboration and knowledge sharing. The increase in conference revenue, amounting to $161.9 million for the nine months ended September 30, 2024, reflects a 14% growth compared to the previous year.

Core Values of Gartner, Inc. (IT)

Integrity

Integrity is a fundamental value at Gartner, Inc. It emphasizes the importance of honesty, transparency, and ethical behavior in all business dealings. Gartner demonstrates its commitment to integrity through various initiatives that promote ethical conduct among its employees and stakeholders.

For example, Gartner has implemented a comprehensive code of ethics that guides employee behavior and decision-making. The company conducts regular training sessions to ensure that all employees understand and adhere to these ethical standards.

Client Focus

Client focus is central to Gartner's operations. This value underscores the company's dedication to understanding and meeting the needs of its clients. Gartner actively seeks feedback from clients to refine its services and improve client satisfaction.

As of September 30, 2024, Gartner achieved a client retention rate of 83% in its Global Technology Sales segment and 87% in Global Business Sales. The company also reported a wallet retention rate of 101% and 106%, respectively, indicating that existing clients are increasing their spending.

Innovation

Innovation is a core value that drives Gartner's growth and adaptability in the rapidly changing IT landscape. The company invests significantly in research and development to create cutting-edge solutions that provide value to its clients.

In 2024, Gartner's total revenues reached $4.6 billion, with a notable increase in research revenues, which grew by 5% compared to the previous year. This growth can be attributed to the company’s focus on innovative research methodologies and technology-driven insights.

Collaboration

Collaboration fosters teamwork and partnerships within Gartner and with its clients. The company promotes a culture of collaboration through various programs and initiatives designed to enhance teamwork across different departments and regions.

In 2024, Gartner held 38 destination conferences, attracting over 52,000 attendees, which reflects the company’s commitment to fostering collaboration among industry leaders and professionals. These conferences serve as platforms for sharing insights and networking, further solidifying Gartner’s role as a collaborative partner in the IT sector.

Excellence

Excellence is a core value that drives Gartner to deliver high-quality services and products consistently. The company sets high standards for performance and continually seeks ways to enhance its offerings and operational efficiency.

Gartner's gross contribution margin was reported at 74% for the nine months ended September 30, 2024, reflecting the company's focus on maintaining high-quality standards while managing costs effectively.

Updated on 16 Nov 2024

Resources:

1. Gartner, Inc. (IT) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Gartner, Inc. (IT)' financial performance, including balance sheets, income statements, and cash flow statements.
2. SEC Filings – View Gartner, Inc. (IT)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.