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. In the quarter to June 2026, revenue grew 43.6%, EPS grew 150.0%, free cash flow grew 70.0% and total debt was flat, each against the same quarter a year earlier. Revenue growth for five consecutive years, operating cash flow growth for five.
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Zeta Global Holdings Corp. (ZETA) Altman Z-score
Zeta Global Holdings Corp.'s Altman Z-score for fiscal 2025 is 3.95, in the safe zone (above 2.99).
Altman Z-score, annual
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Annual newest first
| Period | Altman Z-score | Change (points) |
|---|---|---|
| FY2025 | 3.95 | (0.52) |
| FY2024 | 4.48 | 4.07 |
| FY2023 | 0.41 | 1.00 |
| FY2022 | −0.59 | 0.35 |
| FY2021 | −0.94 | — |
How fiscal 2025’s score is made up
| Component | This year | Year before | Result | Points |
|---|---|---|---|---|
| Working capital / total assets | 0.17 | — | 0.20 | |
| Retained earnings / total assets | (0.70) | — | −0.99 | |
| EBIT / total assets | 0.00 | — | 0.01 | |
| Market value of equity / total liabilities | 6.43 | — | 3.86 | |
| Sales / total assets | 0.87 | — | 0.87 | |
| Altman Z-score | Safe zone | 3.95 | ||
| Z″ Variant for non-manufacturing and asset-light companies (drops the sales/assets term, uses book equity) | Distress zone | 0.05 | ||
Z and Z″ put Zeta Global Holdings Corp. in different zones: safe zone by Z, distress zone by Z″.
How the Altman Z-score works
Z = 1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets (Altman, 1968). The market value of equity is the close on the last trading day of the fiscal year times weighted basic shares.
Z″ = 6.56 × working capital ÷ total assets + 3.26 × retained earnings ÷ total assets + 6.72 × EBIT ÷ total assets + 1.05 × book equity ÷ total liabilities (Altman, Hartzell and Peck, 1995), the variant for non-manufacturing and asset-light companies.
| Zone | Z | Z″ |
|---|---|---|
| Safe zone | above 2.99 | above 2.60 |
| Grey zone | 1.81–2.99 | 1.10–2.60 |
| Distress zone | below 1.81 | below 1.10 |
Not worked out for banks, insurers and REITs, whose balance sheets the model does not describe, nor when a figure is missing or there is no share price in the week to the fiscal year end.
Altman Z-score against peers
| Company | Altman Z-score |
|---|---|
| SAIL SailPoint, Inc. compare | 6.8× |
| QLYS Qualys, Inc. compare | 6.7× |
| GTLB GitLab Inc. compare | 5.2× |
| DOX Amdocs Limited compare | 4.7× |
| PATH UiPath, Inc. compare | 4.0× |
| ZETA Zeta Global Holdings Corp. | 4.0× |
| S SentinelOne, Inc. compare | 1.7× |
| DBX Dropbox, Inc. compare | 0.5× |
| NTSK Netskope Inc. compare | −1.2× |
What Altman Z-score is
The Altman Z-Score weighs working capital, retained earnings, operating profit, market value and sales against assets and debts to gauge the risk of distress.
1.2 × working capital ÷ total assets + 1.4 × retained earnings ÷ total assets + 3.3 × EBIT ÷ total assets + 0.6 × market value of equity ÷ total liabilities + 1.0 × revenue ÷ total assets