ServiceTitan
TTAN on Nasdaq. ServiceTitan sells software to plumbing, heating and electrical contractors to run their businesses. Market value $6.0bn.
Price checks use the past 12 months to July 2026. Quality checks use five annual reports, the latest for the year to January 2026.
Should I look at this?
Not a fit for our list right now
Why it could be worth it
See Technology stocks that passed both tests
This is not advice. Check the numbers below.
For every $100 of what the whole company costs, it produced $1.84 of spare cash in the past 12 months. A savings account pays about $4.
The filings do not give us enough to work this out.
The filings do not give us enough to work this out.
Quality score: not known. Price score: 10 of 100. Our list needs 70 on quality and 60 on price.
$68.67 a share, 30% above its 1-year low
Over the past year the price has ranged from $53.00 to $111.36.
Pays no dividend
Prices from Tuesday’s close (6 October).
Five years of cash, in billions
| Revenue | ||
| Revenue | $772m | $961m |
| Operating margin | ||
| Operating margin | -29.8% | -17.6% |
| Debt to equity | ||
| Debt to equity | 0.07 | 0.00 |
| Shares outstanding | ||
| Shares outstanding | 0.04bn | 0.09bn |
Health checks
- Free cash flow positive2 of 2 years
- Accounting looks honest (Beneish)Nothing unusual
- Financial strength (Piotroski)5 of 8 checks we could run
- Profit backed by cash (accruals)No
- Debt0.00× equity
- Revenue growth, five yearsUnknown
- Buying back its own sharesNo, 119% more shares since 2025
The quarter to July 2026
How the business did, compared with the same quarter a year earlier.
- Sales: $293 million last quarter, up 21% on a year ago.
- A loss of $25 million, compared with a loss of $32 million a year ago.
- It loses 13 cents on each $1 of sales, compared with 26 cents a year earlier.
- Spare cash over the past 12 months: $117 million, up from $33 million.
- 5% more shares than a year ago. Each share owns a bit less of the company.
- Sales grew on a year ago in each of the last 4 quarters.
| Quarter to | Amount |
|---|---|
| October 2024 | $199m |
| January 2025 | $209m |
| April 2025 | $216m |
| July 2025 | $242m |
| October 2025 | $249m |
| January 2026 | $254m |
| April 2026 | $269m |
| July 2026 | $293m |
| Quarter to | Amount |
|---|---|
| October 2024 | -$46m |
| January 2025 | -$101m |
| April 2025 | -$46m |
| July 2025 | -$32m |
| October 2025 | -$40m |
| January 2026 | -$42m |
| April 2026 | -$23m |
| July 2026 | -$25m |
From the company's quarterly reports to the SEC.
Dates
- Next results (estimated)
- n/a
- Last annual report (10-K)
- 25 March 2026
- Next quarterly (estimated, 10-Q)
- 8 December 2026
Who owns it
2 long-term investors we follow own it, up from 1 last quarter. 372 funds in all.
| Fund | Value | Share of that fund | Change |
|---|---|---|---|
| Royce & AssociatesChuck Royce | $6m | <0.1% | New |
| Gotham Asset ManagementJoel Greenblatt | $1m | <0.1% | Cut |
Largest holders overall
- ICONIQ Capital$808m
- BlackRock$367mAdded
- FMR$359mAdded
- Kayne Anderson Rudnick Investment Management$265mCut
- Millennium Management$222mAdded
- Vanguard Capital Management$195mAdded
- Vanguard Portfolio Management$190mAdded
- Battery Management$183mCut
- Citadel Advisors$139mAdded
- Jericho Capital Asset Management L.P.$137mNew
From 13F filings for the quarter ended 30 June 2026.
Big holders and activists
8 investors own more than 5%.
- Divesh MakanPassive investorat least 14.9%−3.3 pts(filed with 21 related holders)Since 30 September 2025
- Vahe KuzoyanPassive investor9.8%Since 31 December 2024
- Ara MahdessianPassive investor8.6%Since 31 December 2024
- Deer VIII & Co. Ltd.Passive investorat least 7.2%−4.6 pts(filed with 5 related holders)Since 31 December 2025
- FMR LLCPassive investorat least 6.1%(filed with 1 related holder)Since 30 June 2026
- BlackRock, Inc.Passive investor6.1%Since 30 June 2026
- Michael M. BrownPassive investorat least 4.2%−0.9 pts(filed with 19 related holders)Since 31 December 2025
- Millennium Management LLCPassive investorat least 3.8%−1.5 pts(filed with 2 related holders)Since 30 June 2026
- Kayne Anderson Rudnick Investment Management, LLCPassive investorSold down below 5%Since 30 June 2026
- The Vanguard GroupPassive investorSold down below 5%Since 13 March 2026
- TPG GP A, LLCPassive investorSold down below 5%Since 30 June 2025
| Holder | Stake | Since | |
|---|---|---|---|
Divesh Makan Passive investor | at least 14.9%−3.3 pts (filed with 21 related holders) | 30 September 2025 | |
Vahe Kuzoyan Passive investor | 9.8% | 31 December 2024 | |
Ara Mahdessian Passive investor | 8.6% | 31 December 2024 | |
Deer VIII & Co. Ltd. Passive investor | at least 7.2%−4.6 pts (filed with 5 related holders) | 31 December 2025 | |
FMR LLC Passive investor | at least 6.1% (filed with 1 related holder) | 30 June 2026 | |
BlackRock, Inc. Passive investor | 6.1% | 30 June 2026 | |
Michael M. Brown Passive investor | at least 4.2%−0.9 pts (filed with 19 related holders) | 31 December 2025 | |
Millennium Management LLC Passive investor | at least 3.8%−1.5 pts (filed with 2 related holders) | 30 June 2026 | |
Kayne Anderson Rudnick Investment Management, LLC Passive investor | Sold down below 5% | 30 June 2026 | |
The Vanguard Group Passive investor | Sold down below 5% | 13 March 2026 | |
TPG GP A, LLC Passive investor | Sold down below 5% | 30 June 2025 |
From Schedule 13D and 13G filings: anyone owning more than 5% must file one.
What insiders did
No insider bought shares on the open market in the last 12 months. 6 sold $87m, $70m of it under preset trading plans.
- O'Connor MicheleChief Accounting OfficerSold
- Date
- 23 September 2026
- Shares
- 4,380
- Price
- $61.35
- Value
- $268,713
- Sherry DavidChief Financial OfficerSold
- Date
- 17 September 2026
- Shares
- 23,246
- Price
- $57.07
- Value
- $1m
- O'Connor MicheleChief Accounting OfficerSold
- Date
- 17 September 2026
- Shares
- 5,581
- Price
- $57.07
- Value
- $318,522
- Kuzoyan VahePresident, DirectorSold
- Date
- 17 September 2026
- Shares
- 3,148
- Price
- $57.07
- Value
- $179,642
- Mahdessian AraChief Executive Officer, DirectorSold
- Date
- 17 September 2026
- Shares
- 3,148
- Price
- $57.07
- Value
- $179,642
- Sherry DavidChief Financial OfficerSoldunder a preset trading plan
- Date
- 14 August 2026
- Shares
- 9,000
- Price
- $90.83
- Value
- $817,470
- Kuzoyan VahePresident, DirectorSoldunder a preset trading plan
- Date
- 12 August 2026
- Shares
- 16,388
- Price
- $88.95
- Value
- $1m
- Kuzoyan VahePresident, DirectorSoldunder a preset trading plan
- Date
- 11 August 2026
- Shares
- 114,732
- Price
- $88.84
- Value
- $10m
- Mahdessian AraChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 4 August 2026
- Shares
- 38,287
- Price
- $84.89
- Value
- $3m
- Mahdessian AraChief Executive Officer, DirectorSoldunder a preset trading plan
- Date
- 3 August 2026
- Shares
- 49,766
- Price
- $84.75
- Value
- $4m
| Date | Who | Did | Shares | Price | Value |
|---|---|---|---|---|---|
| 23 September 2026 | O'Connor Michele Chief Accounting Officer | Sold | 4,380 | $61.35 | $268,713 |
| 17 September 2026 | Sherry David Chief Financial Officer | Sold | 23,246 | $57.07 | $1m |
| 17 September 2026 | O'Connor Michele Chief Accounting Officer | Sold | 5,581 | $57.07 | $318,522 |
| 17 September 2026 | Kuzoyan Vahe President, Director | Sold | 3,148 | $57.07 | $179,642 |
| 17 September 2026 | Mahdessian Ara Chief Executive Officer, Director | Sold | 3,148 | $57.07 | $179,642 |
| 14 August 2026 | Sherry David Chief Financial Officer | Sold under a preset trading plan | 9,000 | $90.83 | $817,470 |
| 12 August 2026 | Kuzoyan Vahe President, Director | Sold under a preset trading plan | 16,388 | $88.95 | $1m |
| 11 August 2026 | Kuzoyan Vahe President, Director | Sold under a preset trading plan | 114,732 | $88.84 | $10m |
| 4 August 2026 | Mahdessian Ara Chief Executive Officer, Director | Sold under a preset trading plan | 38,287 | $84.89 | $3m |
| 3 August 2026 | Mahdessian Ara Chief Executive Officer, Director | Sold under a preset trading plan | 49,766 | $84.75 | $4m |
From Form 4 filings: insiders must report trades in their own company's shares within two days.
What could go wrong
Cheap for a reason is the question the numbers cannot answer.
Whether the price already reflects the risks is what the deep dive is for.
The deep dive
Everything above is arithmetic on public filings. The deep dive reads the last ten years of annual reports, the proxy statements, and the earnings calls, then argues the case the way Buffett, Klarman, and Hohn would, and checks every claim against the source.
- What the business is worth, as a range, and the margin of safety at today’s price
- Prices to start buying, buy, and buy hard
- The three things that would make this a mistake
- Every number footnoted to the filing it came from
Your first deep dive is free.
Not advice. Numbers on this page come from SEC filings and are updated each night; prices are updated again after the US market closes. The five-year figures are rounded.