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Friday 6 November 2026
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Zeta Global Holdings Corp.
ZETA Technology Software Infrastructure
Zeta Global Holdings Corp.’s revenue for fiscal 2025 (year ended December 2025) was $1.3 billion, up 29.7% from fiscal 2024.
- Revenue
- +43.6%
- EPS
- +150.0%
- Free cash flow
- +70.0%
- Total debt
- +0.40%
Quarter to June 2026, against a year earlier
29.65
2.13
−6.70%
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Target Price Range
Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | 306 | 368 | 458 | 591 | 729 | 1,006 | 1,305 | 1,571 | +27.3% | 1,820 | 2,113 | 2,442 | +23.2% | |
| Gross margin, % | — | — | — | 63.93 | 59.56 | 61.88 | 63.54 | 62.33 | 60.27 | 60.63 | 59.48 | (3.3) pt | ||||||
| EBT | — | — | — | (37) | (52) | (250) | (281) | (186) | (75) | (33) | (10) | (2.0%) | ||||||
| EBT margin, % | — | — | — | (12.24) | (14.21) | (54.58) | (47.50) | (25.59) | (7.45) | (2.54) | (0.61) | +9.7 pt | ||||||
| Net income | — | 0 | — | (38) | (53) | (250) | (279) | (187) | (70) | (32) | (2) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | 9.69 | 11.30 | 5.27 | 4.25 | 4.65 | 5.41 | 5.91 | 6.40 | (7.9%) | |||||
| Earnings | — | — | — | (1.77) | (2.23) | (2.95) | (2.01) | (1.20) | (0.38) | (0.14) | (0.02) | (34.5%) | ||||||
| Cash flow | — | — | — | 0.97 | 1.09 | 0.51 | 0.56 | 0.58 | 0.72 | 0.90 | 0.98 | (1.2%) | ||||||
| Capex | — | — | — | (0.72) | (0.77) | (0.31) | (0.28) | (0.23) | (0.22) | (0.15) | (0.16) | (22.7%) | ||||||
| Free cash flow | — | — | — | 0.25 | 0.32 | 0.20 | 0.28 | 0.35 | 0.50 | 0.75 | 0.82 | +19.9% | ||||||
| Book value | — | — | — | (1.02) | (2.61) | 1.04 | 0.92 | 1.15 | 3.64 | 3.65 | 3.78 | n/m | ||||||
| Shares, m | — | — | — | 32 | 33 | 87 | 139 | 157 | 186 | 221 | 232 | +38.3% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.0 | |||||
| P/S | — | — | — | 0.82 | 0.82 | 1.60 | 1.96 | 1.81 | 3.33 | 3.44 | 4.63 | 2.0 | ||||||
| P/B | — | — | — | 0.00 | 0.00 | 8.09 | 9.05 | 7.29 | 4.94 | 5.58 | 7.85 | 5.0 | ||||||
| EV/Sales | — | — | — | 1.22 | 1.22 | 1.77 | 2.07 | 1.88 | 3.16 | 3.35 | 4.56 | 2.1 | ||||||
| EV/FCF | — | — | — | 67.96 | 67.96 | 46.29 | 31.13 | 25.09 | 34.49 | 26.48 | 35.46 | 42.8 | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | 31 | 36 | 44 | 78 | 91 | 134 | 199 | 241 | +36.6% | |||||
| Capex | — | — | — | (23) | (25) | (27) | (39) | (36) | (42) | (34) | (39) | +6.9% | ||||||
| Free cash flow | — | — | — | 8 | 10 | 18 | 39 | 55 | 92 | 165 | 202 | +65.9% | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | 41 | 37 | 90 | 108 | 133 | 417 | 256 | 393 | +35.9% | |||||
| Net debt | — | — | — | 146 | 139 | 80 | 63 | 52 | (170) | (123) | (112) | n/m | ||||||
| Shareholders’ equity | — | — | — | (32) | (85) | 90 | 128 | 181 | 677 | 805 | 926 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | (35.58) | (24.28) | (75.09) | (64.66) | (36.86) | (8.40) | (2.41) | (0.17) | +33.2 pt | |||||
| ROIC | — | — | — | (9.65) | (9.35) | (91.20) | (84.82) | (44.99) | (8.37) | 0.49 | 1.89 | +10.1 pt | ||||||
| ROE | — | — | — | 26.20 | 34.21 | 345.08 | (255.58) | (121.52) | (16.28) | (4.25) | (0.27) | (30.4) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 1,296 | 1,434 | 1,604 | 1,783 | 2,191 | 3,300 | — | +20.6% | |||||
| Revenue/emp, $m | — | — | — | 0.00 | 0.28 | 0.32 | 0.37 | 0.41 | 0.46 | 0.40 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 25 Oct 2026
Business profile
Zeta Global Holdings Corp. vs peers in Software Infrastructure (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| NTSK Netskope Inc. | $8.9B | — (loss-making) | — (loss-making) | +29.15% (above 0%: growing) | n/m | −51.62% (below 0%: shrinking) | 73.92% | (40.72%) | Compare |
| DOCN DigitalOcean Holdings, Inc. | $8.3B | 171× | 175× | +39.87% (above 0%: growing) | n/m | +85.62% (above 0%: growing) | 50.15% | 10.28% | Compare |
| GTLB GitLab Inc. | $8.2B | — (loss-making) | — (loss-making) | +21.31% (above 0%: growing) | n/m | −107.11% (below 0%: shrinking) | 84.06% | (19.89%) | Compare |
| DBX Dropbox, Inc. | $7.8B | 19.7× | 20.7× | +0.93% (above 0%: growing) | −6.52% (below 0%: shrinking) | −10.29% (below 0%: shrinking) | 80.21% | 26.10% | Compare |
| S SentinelOne, Inc. | $7.5B | — (loss-making) | — (loss-making) | +20.56% (above 0%: growing) | n/m | −83.92% (below 0%: shrinking) | 72.07% | (31.08%) | Compare |
| ZETA Zeta Global Holdings Corp. | $7.4B | — (loss-making) | 299× | +43.55% (above 0%: growing) | n/m | +69.99% (above 0%: growing) | 59.12% | 3.82% | |
| QLYS Qualys, Inc. | $6.9B | 34.7× | 38.3× | +11.04% (above 0%: growing) | +15.38% (above 0%: growing) | +72.34% (above 0%: growing) | 83.40% | 33.98% | Compare |
| PATH UiPath, Inc. | $6.8B | 19.5× | 35.1× | +13.42% (above 0%: growing) | +2,233.33% (above 0%: growing) | −29.52% (below 0%: shrinking) | 80.36% | 7.70% | Compare |
| BOX Box, Inc. | $6.0B | 60.7× | 109× | +9.23% (above 0%: growing) | +66.67% (above 0%: growing) | +65.84% (above 0%: growing) | 79.08% | 10.16% | Compare |
| Median of peers | $7.6B | 34.7× | 38.3× | +16.99% | +41.03% | −19.90% | 79.65% | 8.93% |
From the latest earnings call
- CFO Chris Greiner said customers that comprehensively adopted Zeta’s AI tools accounted for roughly 70.0% of revenue, while CEO David Steinberg described Athena as a conversational interface.
- Greiner said Zeta raised its revenue and earnings outlook, while Steinberg said the company’s data cloud had been integrated with Palantir’s Foundry.
Largest institutional holders 13F, quarter to 30 June 2026
Held by institutions
37.43%
Held by the ten largest
19.79%
| Holder | Shares | Stake | Change |
|---|---|---|---|
| Vanguard | 26.99m | 5.38% | +3.38m |
| BlackRock | 19.82m | 3.95% | +1.84m |
| Greenvale Capital LLP | 9.26m | 1.84% | −1.14m |
| Capital Group | 8.19m | 1.63% | +136.35k |
| Goldman Sachs | 6.85m | 1.36% | +1.36m |
| DISCIPLINED GROWTH INVESTORS INC /MN | 6.76m | 1.35% | +607.69k |
| Neuberger Berman | 6.26m | 1.25% | +391.95k |
| Geode Capital Management | 5.66m | 1.13% | +517.88k |
| State Street | 5.38m | 1.07% | +495.12k |
| Contour Asset Management LLC | 4.21m | 0.84% | −854.54k |
13F filings for the quarter to 30 June 2026: long positions in US-listed shares reported by managers with $100m or more, ~45 days after the quarter.
Pay and ownership Proxy statement filed 24 April 2026
Chief executive’s pay
| Year | Total pay | Actually paid | $100 invested |
|---|---|---|---|
| 2025 | 6.08m | 7.80m | 228.91 |
| 2024 | 26.16m | 227.22m | 202.36 |
| 2023 | 18.87m | 32.58m | 99.21 |
| 2022 | 20.73m | 7.34m | 91.90 |
| 2021 | 216.45m | 191.67m | 94.71 |
Ownership
Directors and executive officers, together
51.80% of the votes
David A. Steinberg
51.40% of the votes
ACI Investment Partners XXVII LLC
20.70% of the votes
ACI Investment Partners, LLC
19.10% of the votes
BlackRock, Inc.
3.20% of the votes
Total pay is as the Summary Compensation Table states it; actually paid revalues the year’s share awards
at its end, as the SEC’s pay-versus-performance rule asks. $100 invested is what $100 in the company’s
shares at the start of the earliest year shown was worth at each year’s end.
Ownership is the proxy’s own table: the directors and officers as a group, and every holder of 5% or more.
Read the proxy statement
Zeta Global Holdings Corp. (ZETA) Latest News
9 Oct
8 Oct
7 Oct
6 Oct
25 Aug
12 Aug
11 Aug
7 Aug
ZETA metrics, ten years each
- Revenue
- Net income
- EPS (diluted)
- EBITDA
- Free cash flow
- Operating cash flow
- Gross margin
- Operating margin
- Net margin
- Free cash flow margin
- P/E ratio
- P/S ratio
- P/B ratio
- Price to free cash flow
- EV/EBITDA
- EV/Sales
- EV/FCF
- Return on equity
- Return on assets
- Return on invested capital
- Debt to equity
- Current ratio
- Total debt
- Shares outstanding
- Book value per share
- Revenue growth
- Piotroski F-score
- Altman Z-score
- Beneish M-score
Zeta Global sells consumer intelligence and marketing automation software to enterprises. Its Zeta Marketing Platform combines data about consumers with artificial intelligence to help customers identify audiences, create campaigns and engage people across email, websites, social media, connected TV and other digital channels.
The platform has products for messaging, managing customer data and buying digital advertising. Customers can use them individually or together. Zeta also offers an intelligence suite that combines its own data with information from customers to identify audiences and opportunities for marketing campaigns.