IT vs PATH: How Gartner and UiPath Compare (2026)

Same yardstick, side by side (as of August 2026). Valuation lined up like this is most meaningful for two names in the same corner of the market, which these are. Figures are approximate; verify before investing.

Reading it: IT is the cheaper of the two on forward earnings, but cheaper is not the same as better. Pair the valuation with growth (how far the forward P/E sits below the trailing P/E) and risk (beta) before you decide.

The metrics above tell you which is the marginally better business. The bigger risk for most people is not picking the slightly worse stock, it is over-concentrating. IT and PATH share themes, so owning both, or adding either to what you already hold, can quietly push a large share of your portfolio into one bet.

This is the part a generic comparison page cannot answer, because it depends on what you own. Connect your brokerage and Walnut shows your real, combined IT and PATH exposure, flags overlap with your existing positions, and tells you if adding one would tip you past a concentration you are comfortable with, read-only by default, with your login staying at your broker. Walnut is not an investment adviser.

Gartner, Inc. is the world's largest independent technology research and advisory firm, selling syndicated research, analyst access, benchmarking, and advisory relationships to IT, finance, HR, supply-chain, and other corporate leaders. It operates through three segments: Business and Technology Insights (formerly Research), which is nearly 100% subscription-based and is the profit engine; Conferences, the in-person events business that ran 53 conferences with over 83,000 attendees in 2025; and Consulting, a smaller project-based advisory arm. The economics are attractive because Insights carries high gross margins, high renewal rates, and predictable recurring revenue tied to contract value (the annualized value of subscription contracts), which management watches as the core growth metric.

Full IT guide

UiPath builds and sells an integrated enterprise automation platform that combines traditional robotic process automation (RPA) with AI-powered capabilities including agentic automation, process orchestration, intelligent document processing, and governance tooling. Its core product, the UiPath Platform, enables AI agents, software robots, and human workers to collaborate in coordinated workflows across industries including financial services, healthcare, manufacturing, retail, and the public sector. The company makes money primarily through subscription and cloud software licenses, which generate high gross margins in the 83-85 percent range, supplemented by professional services revenue. ARR, the annualized value of active subscription contracts, is its primary business-health metric and stood at $1.853 billion as of January 31, 2026.

Full PATH guide

Both fit overlapping themes, but they are not interchangeable. The useful comparison is which set of drivers and risks you want exposure to.

• IT drivers: Subscription research and contract value; Cash generation and buybacks.
• PATH drivers: Agentic Automation as the Next Growth Layer; Re-accelerating Revenue Growth with a Maturing Margin Profile.

A faster-growing, richer-valued name usually swings harder, so it suits a longer horizon and a higher tolerance for volatility; a steadier, more cash-generative business suits a more conservative or income-minded investor. The honest test is which set of risks you could hold through a drawdown: The dominant risk is generative AI disintermediation: if free or cheaper AI tools can approximate the research and advice clients pay Gartner for, subscription demand and pricing power could erode, which is the primary reason the stock derated so sharply in 2026. For PATH, the central bear case is platform displacement: generative AI and agentic tools embedded into Microsoft 365, ServiceNow, and cloud hyperscaler platforms could allow enterprises to automate complex workflows without a dedicated RPA layer, gradually eroding UiPath's core value proposition.

Growth-minded investors who believe the theme has years to run tend to accept the richer multiple for more upside; value-minded investors lean toward the cheaper forward earnings and steadier profile. Pick IT if you believe its drivers more; PATH if you believe its. Many investors hold both, but since they share themes, that is a concentrated bet, not diversification. Decide deliberately and check overlap. For the full detail, see the IT and PATH guides.

IT. Gartner traded around $140 in early-to-mid July 2026, down roughly two-thirds from a 52-week high above $400, which pushed the trailing P/E down near 13 against a five-year median above 30. The compression reflects fear that AI erodes the research franchise plus slowing contract-value growth, not a collapse in current profits, since cash flow and EPS actually rose. Analyst price targets clustered around the mid-$160s, implying the Street sees the selloff as partly overdone but keeps a cautious consensus.

PATH. UiPath's trailing P/E of roughly 17x sits well below the broader US software sector average of approximately 26x, reflecting the market's uncertainty about whether agentic AI tailwinds will translate into sustained double-digit ARR growth. The company's strong gross margin profile of 83 percent and $372 million in FY2026 free cash flow indicate a fundamentally healthy software business, but the stock has declined significantly from its post-IPO highs as growth decelerated and competition intensified. The forward P/E of roughly 12x implies the market is pricing in limited earnings growth, creating a potential valuation gap if the re-acceleration seen in recent quarters proves durable.

Headline figures (approximate, JULY 2026): IT shows revenue (ttm) ~$6.5B, q1 2026 revenue ~$1.51B (-1.5% YoY), q1 2026 diluted eps ~$3.18 (+17% YoY), q1 2026 free cash flow ~$371M (+29% YoY); PATH shows revenue (fy2026, ended jan 31, 2026) ~$1.61 billion, revenue growth (fy2026 yoy) ~13%, arr (as of jan 31, 2026) ~$1.85 billion, gaap gross margin (fy2026) ~83%.

IT and PATH are related but distinct: same themes, different businesses and risks. Neither wins in the abstract; the right pick is whichever thesis you actually believe, sized so you are not over-concentrated in one theme. Walnut can show your combined IT and PATH exposure against your real portfolio. It is not an investment adviser.