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ServiceTitan, Inc. Class A
(NASDAQ:TTAN)
Select Model
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Rating:75Outperform
Price Target:
$91.00
▼(-0.95% Downside)
Action:Upgraded
Date:10/21/26
TTAN’s score is driven primarily by improving financial quality (strong growth, expanding gross margins, and now solid positive operating/free cash flow supported by a very low-leverage balance sheet) and a constructive technical uptrend. The main offsets are weak valuation optics from continued net losses (negative P/E) and some near-term business headwinds discussed on the earnings call (softer GTV/lead trends and Max-related revenue recognition headwinds), though management’s guidance and sentiment remain notably strong.
Positive Factors
Growth and margin expansion
Revenue growth alongside expanding gross and operating margins indicates improving platform economics and operating leverage. If sustained, this combination can support reinvestment in product development while allowing a greater share of future revenue to convert into operating earnings.
Negative Factors
Persistent net losses
ServiceTitan has improved materially but has not yet reached sustainable accounting profitability. Continued net losses can limit internally generated earnings available for reinvestment and leave the business more dependent on maintaining strong revenue growth and cash conversion.
Read all positive and negative factors
Positive Factors
Negative Factors
Growth and margin expansion
Revenue growth alongside expanding gross and operating margins indicates improving platform economics and operating leverage. If sustained, this combination can support reinvestment in product development while allowing a greater share of future revenue to convert into operating earnings.
Read all positive factors
ServiceTitan, Inc. Class A Key Performance Indicators (KPIs)
Any
Revenue by Segment
Breaks revenue into the company’s business lines (for example software subscriptions, services, or payments), showing which areas drive growth, which have higher margins, and how diversified the business is — useful for assessing where future profit and risk are concentrated.
Breaks revenue into the company’s business lines (for example software subscriptions, services, or payments), showing which areas drive growth, which have higher margins, and how diversified the business is — useful for assessing where future profit and risk are concentrated.
Data provided by:
The Fly
The FlyServiceTitan, Inc. Class A (TTAN) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$7.79B
Dividend YieldN/A
Average Volume (3M)3.54M
Price to Earnings (P/E)―
Beta (1Y)0.96
Revenue Growth22.90%
EPS Growth61.40%
CountryUS
Employees3,414
SectorGeneral
Sector StrengthN/A
IndustrySoftware - Application
Share Statistics
EPS (TTM)-1.37
Shares Outstanding84,082,060
10 Day Avg. Volume1,798,361
30 Day Avg. Volume3,542,605
Financial Highlights & Ratios
PEG Ratio0.57
Price to Book (P/B)4.83
Price to Sales (P/S)7.67
P/FCF Ratio86.66
Enterprise Value/Market Cap0.97
Enterprise Value/Revenue7.07
Enterprise Value/Gross Profit9.95
Enterprise Value/Ebitda-196.30
Forecast
1Y Price Target
$98.54Price Target Upside7.26% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering14
EPS Forecast (FY)1.36
Revenue Forecast (FY)$1.14B
ServiceTitan, Inc. Class A Business Overview & Revenue Model
Company Description
ServiceTitan, Inc. specializes in providing solutions for managing various field service operations. These activities are essential for the installation, ongoing maintenance, and repair of critical infrastructure and systems within both residentia...
How the Company Makes Money
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ServiceTitan, Inc. Class A Earnings Call Summary
Earnings Call Date:Sep 08, 2026
(Q2-2027)
| % Change Since: |
Next Earnings Date:Jan 19, 2027
Earnings Call Sentiment Positive
The call was strongly optimistic, with management emphasizing 21% revenue growth, record free cash flow, improved margins, rapid Max adoption, strong customer outcomes, virtual-agent momentum, and expanded investment in AI and the software factory. The main challenges were softer GTV and lead-volume growth, especially in HVAC, plus near-term revenue headwinds from the Max mix shift, lower professional services revenue, and delayed expansion into new trades. Highlights significantly outweighed the lowlights.Positive Updates
Revenue Growth and Record Free Cash Flow
Q2 revenue grew 21% year-over-year, supported by momentum in delivering the Agentic operating system, and the company generated record free cash flow for the quarter.
Negative Updates
Moderation in GTV Growth
Q2 gross transaction volume was $26.8 billion, up 17% year-over-year, approximately 200 basis points below recent quarters after normalization for business days and weather. Management attributed the moderation primarily to lower job growth by existing customers.
Read all updates
Q2-2027 Updates
Positive
Negative
Revenue Growth and Record Free Cash Flow
Q2 revenue grew 21% year-over-year, supported by momentum in delivering the Agentic operating system, and the company generated record free cash flow for the quarter.
Read all positive updates
Company Guidance
For the third quarter, ServiceTitan expects total revenue in the range of $285 million to $287 million and operating income in the range of $29 million to $30 million; for the full fiscal year 2027, it expects total revenue in the range of $1.139 billion to $1.144 billion and operating income in the range of $152 million to $154 million. It now expects incremental margins of 33% in FY '27, with 25% incremental margins representing a floor each year, and expects free cash flow conversion will remain consistently high again during this fiscal year. ServiceTitan now expects to end this fiscal year with over 700 enrolled Max locations, while the change in composition and timing difference of revenue recognition is expected to be between a $2 million and $3 million subscription revenue headwind over the remainder of the fiscal year, with the mix shift to Max lowering professional services revenue by roughly an additional $2 million and creating an approximately $4 million to $5 million near-term headwind across both subscription revenue and professional services.ServiceTitan, Inc. Class A Financial Statement Overview
Summary
Income Statement
58
Neutral
Balance Sheet
84
Very Positive
Cash Flow
77
Positive
| Breakdown | TTM | Jan 2026 | Jan 2025 | Jan 2024 | Jan 2023 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.06B | 960.97M | 771.88M | 614.34M | 467.73M |
| Gross Profit | 756.85M | 673.74M | 500.93M | 376.63M | 266.02M |
| EBITDA | -38.36M | -66.69M | -141.04M | -93.58M | -170.38M |
| Net Income | -129.00M | -159.85M | -239.09M | -195.15M | -269.52M |
Balance Sheet | |||||
| Total Assets | 1.80B | 1.75B | 1.77B | 1.52B | 1.60B |
| Cash, Cash Equivalents and Short-Term Investments | 479.54M | 428.77M | 441.80M | 146.71M | 202.49M |
| Total Debt | 47.76M | 51.37M | 165.41M | 245.96M | 253.12M |
| Total Liabilities | 198.48M | 219.82M | 314.06M | 366.11M | 385.85M |
| Stockholders Equity | 1.61B | 1.53B | 1.45B | 1.15B | 1.21B |
Cash Flow | |||||
| Free Cash Flow | 127.83M | 85.07M | 15.45M | -84.32M | -212.72M |
| Operating Cash Flow | 140.78M | 110.13M | 37.05M | -39.70M | -120.75M |
| Investing Cash Flow | -46.58M | -44.84M | -22.78M | -40.35M | -681.18M |
| Financing Cash Flow | -86.36M | -78.79M | 279.71M | 24.27M | 889.03M |
ServiceTitan, Inc. Class A Technical Analysis
Positive
91.87
Price Trends
76.04
Positive
75.71
Positive
72.95
Positive
Market Momentum
2.99
Negative
69.63
Neutral
92.43
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TTAN, the sentiment is Positive. The current price of 91.87 is above the 20-day moving average (MA) of 71.71, above the 50-day MA of 76.04, and above the 200-day MA of 72.95, indicating a bullish trend. The MACD of 2.99 indicates Negative momentum. The RSI at 69.63 is Neutral, neither overbought nor oversold. The STOCH value of 92.43 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for TTAN.
ServiceTitan, Inc. Class A Risk Analysis
ServiceTitan, Inc. Class A disclosed 61 risk factors in its most recent earnings report. ServiceTitan, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
ServiceTitan, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | $7.92B | 49.25 | 32.03% | ― | 20.66% | -21.24% | |
79 Outperform | $10.47B | 27.34 | 35.31% | ― | 16.18% | ― | |
77 Outperform | $4.11B | 44.87 | 14.49% | ― | 13.90% | 1906.95% | |
76 Outperform | $8.98B | 33.93 | 23.44% | ― | 11.04% | 22.52% | |
75 Outperform | $7.79B | -60.09 | -8.33% | ― | 22.90% | 61.40% | |
73 Outperform | $4.26B | 41.92 | 12.46% | ― | 24.21% | 206.42% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
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ServiceTitan, Inc. Class A
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-13.43%
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Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.