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Zoom Communications, Inc.

ZM Technology Software Application

Zoom Communications, Inc.’s revenue for fiscal 2026 (year ended January 2026) was $4.9 billion, up 4.36% from fiscal 2025.

Revenue
+4.93%
EPS
+342.9%
Free cash flow
−7.02%

Quarter to July 2026, against a year earlier

89.34 0.52 +0.59%
Market cap
$25.9B
P/E
8.1×
Fwd P/E
11.5×
Dividend yield
—
F-score
7/9
Altman Z
9.77
Beneish M
−2.34
Dividend safety
n/a
Overview Business Profile Earnings & Analysis
Financials
Income Statement Balance Sheet Cash Flow Metrics & Ratios
Segments Valuation Filings

Revenue by segment Fiscal 2026

  • Reportable Segment

Every year since 2018 →

Insider Decisions last twelve months

Sold, $m 73.96
Trades a month
Jan 26 Apr 26 Jul 26 Oct 26
Buy — — — — — — — — — — — —
Sell 5 5 2 1 5 2 3 5 2 3 9 1
Insider Ownership 10.30%

Capital & Financial Ratios $m

Size
Market Cap 25,920.00
Revenue ttm 4,993.05
Net income ttm 3,255.08
Free cash flow ttm 1,924.63
Net debt Q (7,249.72)
Valuation
P/E 8.07
Forward P/E 11.50
Price / sales 5.22
Forward P/S Powerpack
Price / FCF 13.55
Price / book 2.31
Financial health
Current ratio Q 3.83 (at or above 1.5: strong)
Debt / equity Q 0.00 (at or below 0.5: strong)
Interest coverage Q 145.43
Growth
Revenue growth Q +4.93% (above 0%: growing)
Operating income growth Q −2.31% (below 0%: shrinking)
EPS, this year +3.88%
EPS, next year A +3.42%
Revenue, next year A +4.61%
EPS, past 5 yrs +22.39% (at or above 15%: strong)
EPS, next 5 yrs A +4.54%

Green and red mark values outside typical ranges; (Q) is the latest quarter, (A) analysts’ estimates. How we judge →

Valuation vs history

EV/Sales, ten years
EV/Sales is 3.8×, against a ten-year median of 4.2×; over the ten years it ranged from 2.4× in 2024 to 97.7× in 2020.
P/E against its own 10 years 0.22%
10-year low 10-year high
P/S against its own 10 years 36.65%
10-year low 10-year high
P/B against its own 10 years 4.28%
10-year low 10-year high
EV/Sales against its own 10 years 39.81%
10-year low 10-year high
EV/FCF against its own 10 years 25.96%
10-year low 10-year high

Dividends

Yield
—
Annual rate
—
Payout ratio
—

Assets vs Liabilities $m

2024 2025 2026 Q'26
Cash 6,962 7,792 7,817 7,250
Receivables 536 495 497 533
Inventory — — — —
Other — — — —
7,926 8,676 8,658 8,115
2024 2025 2026 Q'26
Payables 10 8 6 14
ST’ Debt — — — —
Other — — — —
1,762 1,903 1,999 2,121

Compound Annual Growth %

10y 5y 3y
Sales — 12.92% 3.49%
Cash Flow — 6.22% 15.52%
Earnings — 23.12% 163.63%
Book Value — 20.50% 16.48%

Earnings Trends EPS, adjusted, against the consensus

Q2 FY27 Estimate 1.50 Actual 1.55

Earnings per share against the consensus, by quarter
Quarter Estimate Reported Result
Q3 FY26 1.43 1.52 Beat by 0.09
Q4 FY26 1.48 1.44 Miss by 0.04
Q1 FY27 1.41 1.55 Beat by 0.14
Q2 FY27 1.50 1.55 Beat by 0.05
Q3 FY27 1.49 — Reports 23 November 2026

EPS $

Apr Jul Oct Jan Year
’26 1.42 5.15 — — —
’26 0.81 1.16 2.01 2.22 6.18
’25 0.69 0.70 0.66 1.16 3.21
’24 0.05 0.59 0.45 0.95 2.07
’23 0.37 0.15 0.16 (0.36) 0.34
’22 0.74 1.04 1.11 1.60 4.50
’21 0.09 0.63 0.66 0.87 2.25
Fiscal quarters ending in the months shown.

Revenue $m

Apr Jul Oct Jan Year
’26 1,239 1,277 — — —
’26 1,175 1,217 1,230 1,247 4,869
’25 1,141 1,163 1,178 1,184 4,665
’24 1,105 1,139 1,137 1,146 4,527
’23 1,074 1,099 1,102 1,118 4,393
’22 956 1,021 1,051 1,071 4,100
’21 328 664 777 882 2,651
Fiscal quarters ending in the months shown.

Operating Cash Flow $m

Apr Jul Oct Jan Year
’26 522 495 — — —
’26 489 516 629 355 1,989
’25 588 449 483 425 1,945
’24 418 336 493 351 1,599
’23 526 257 295 212 1,290
’22 533 468 395 209 1,605
’21 259 401 411 399 1,471
Fiscal quarters ending in the months shown.

Free Cash Flow $m

Apr Jul Oct Jan Year
’26 500 472 — — —
’26 463 507 614 338 1,924
’25 570 365 458 416 1,809
’24 397 289 453 333 1,472
’23 498 229 265 183 1,175
’22 454 455 365 185 1,460
’21 252 372 385 376 1,385
Fiscal quarters ending in the months shown.

Valuation

The price implies free cash flow after share-based pay growing 3.1% a year for ten years.

Implied
3.1%
Open the model

Target Price Range

Analyst price targets

Recommendation Rating

1.9
1Buy 2 3Hold 4 5Sell

Ten years at a glance Fiscal years to January

Ten-year view Analyst estimates Powerpack
Group Line 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 TTM Jul ’26 Trend 10 yrs 2027e 2028e 2029e Next 3/yr
Income, $m
Income, $m Revenue 61 151 331 623 2,651 4,100 4,393 4,527 4,665 4,869 4,993 +62.7% 5,093 5,317 5,573 +4.6%
Gross margin, % 73.77 79.68 81.54 81.47 69.00 74.28 74.95 76.19 75.79 77.02 77.30 +3.2 pt
EBT 0 (4) 8 26 678 1,102 249 832 1,316 2,422 4,185 n/m
EBT margin, % 0.00 (2.32) 2.53 4.23 25.57 26.87 5.67 18.38 28.20 49.75 83.82 +49.8 pt
Net income (14) (4) 8 25 672 1,376 104 637 1,010 1,900 3,255 n/m
Per share, $
Per share, $ Revenue 0.23 1.94 3.91 2.67 9.34 13.84 14.81 15.05 15.15 16.20 17.05 +60.1%
Earnings (0.06) (0.11) 0.09 0.09 2.37 4.64 0.35 2.12 3.28 6.32 11.04 n/m
Cash flow 0.03 0.25 0.61 0.65 5.18 5.42 4.35 5.32 6.32 6.62 6.83 +79.3%
Capex 0.00 (0.12) (0.36) (0.16) (0.30) (0.49) (0.39) (0.42) (0.44) (0.22) (0.26) n/m
Free cash flow 0.03 0.12 0.25 0.49 4.88 4.93 3.96 4.89 5.87 6.40 6.57 +78.6%
Book value 0.00 0.00 (0.09) 3.57 13.60 19.51 20.93 26.66 29.01 32.64 38.59 n/m
Shares, m 260 78 84 234 284 296 297 301 308 301 297 +1.6%
Valuation, ×
Valuation, × P/E 690.42 690.42 690.42 847.78 161.15 33.39 227.27 30.62 26.51 14.63 8.07 341.3
P/S 15.85 15.85 15.85 28.63 40.89 11.15 5.06 4.29 5.74 5.73 5.22 14.9
P/B 0.00 0.00 0.00 21.38 28.08 7.91 3.58 2.42 3.00 2.85 2.31 6.9
EV/Sales 15.31 15.31 15.31 27.26 39.29 9.83 3.83 2.75 4.07 4.13 3.77 13.7
EV/FCF 221.03 221.03 221.03 149.13 75.19 27.64 14.32 8.52 10.54 10.44 9.78 95.9
Cash, $m
Cash, $m Operating cash flow 9 19 51 152 1,471 1,605 1,290 1,599 1,945 1,989 2,000 +82.2%
Capex (5) (10) (30) (38) (86) (146) (115) (127) (137) (65) (76) +33.1%
Free cash flow 9 10 21 114 1,385 1,460 1,175 1,472 1,809 1,924 1,925 +81.5%
Balance, $m
Balance, $m Working capital — 100 124 762 3,533 4,604 4,618 6,164 6,773 6,659 5,994 +69.0%
Net debt — (139) (176) (855) (4,245) (5,419) (5,413) (6,962) (7,792) (7,817) (7,250) +65.5%
Shareholders’ equity — — (7) 834 3,861 5,780 6,207 8,019 8,935 9,808 11,304 n/m
Returns, %
Returns, % ROA 0.00 (2.89) 0.00 2.65 20.39 21.40 1.32 7.06 9.66 16.56 26.43 +16.6 pt
ROIC — 0.00 0.00 0.00 0.00 184.27 19.32 31.06 44.46 35.27 18.27 +35.3 pt
ROE 0.00 48.39 0.00 5.26 28.61 28.53 1.73 8.96 11.92 20.28 32.14 +20.3 pt
People
People Employees — — 1,702 2,532 4,422 6,787 8,484 7,420 7,412 7,438 — +23.5%
Revenue/emp, $m 0.00 0.00 0.19 0.25 0.60 0.60 0.52 0.61 0.63 0.65 — n/m
Negative figures in brackets.
estimates

All 10 years →

Fiscal years to Jan 2026 · latest quarter Jul 2026 · fundamentals updated 26 Oct 2026

Business profile

Updated

Zoom Communications sells software that helps people communicate, collaborate and serve customers. Founded in 2011 and headquartered in San Jose, the company is led by President and Chief Executive Officer Eric S. Yuan. Its customers range from individuals and entrepreneurs to global enterprises.

Zoom Workplace brings together tools for video meetings, business phone calls, team chat, documents and digital whiteboards. For example, Zoom Meetings lets people share video, voice, chat and content across devices, while Zoom Phone provides businesses with calling and voicemail features. Zoom Rooms connects meeting-room equipment with the company’s meeting software.

Where the money comes from and where it goes Fiscal 2026

Fiscal 2026: revenue by segment, and margins
Reportable Segment 4,869 100.00%
Gross margin 77.02%
Operating margin 23.08%
Pre-tax margin 49.75%

Revenue by segment since 2018

Zoom Communications, Inc. vs peers in Software Application (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
PAYX Paychex, Inc. $42.5B 23.6× 20.4× +5.88% (above 0%: growing) +13.08% (above 0%: growing) −46.05% (below 0%: shrinking) 73.62% 37.98% Compare
BSP Bending Spoons S.p.A. $29.6B 165× 68.9× — — — 65.84% 34.12% Compare
ZM Zoom Communications, Inc. $25.9B 8.1× 11.5× +4.93% (above 0%: growing) +342.86% (above 0%: growing) −7.02% (below 0%: shrinking) 77.16% 24.61%
U Unity Software Inc. $21.5B — (loss-making) — (loss-making) +32.19% (above 0%: growing) n/m +45.22% (above 0%: growing) 81.92% 16.18% Compare
PTC PTC Inc. $21.1B 18.7× 21.9× −6.82% (below 0%: shrinking) −11.86% (below 0%: shrinking) +3.02% (above 0%: growing) 81.74% 27.75% Compare
SSNC SS&C Technologies Holdings, Inc. $18.4B 21.8× 20.6× +10.34% (above 0%: growing) +33.78% (above 0%: growing) +14.94% (above 0%: growing) 48.26% 24.60% Compare
TYL Tyler Technologies, Inc. $17.1B 53.6× 45.9× +8.67% (above 0%: growing) +19.80% (above 0%: growing) +11.88% (above 0%: growing) 49.14% 18.07% Compare
FICO Fair Isaac Corporation $15.3B 20.4× 19.2× +25.68% (above 0%: growing) +39.65% (above 0%: growing) +34.07% (above 0%: growing) 87.09% 53.79% Compare
MANH Manhattan Associates, Inc. $14.8B 71.0× 68.4× +11.02% (above 0%: growing) +8.25% (above 0%: growing) −22.46% (below 0%: shrinking) 56.93% 26.45% Compare
Median of peers $19.8B 23.6× 21.9× +10.34% +16.44% +11.88% 69.73% 27.10%

All 230 Software Application stocks →

Largest institutional holders 13F, quarter to 30 June 2026

Held by institutions 69.19%
Held by the ten largest 33.35%
Holder Shares Stake Change
Vanguard 27.11m 9.29% −169.60k
BlackRock 18.02m 6.17% +239.70k
JPMorgan Chase 8.56m 2.93% −514.09k
Norges Bank 7.97m 2.73% +7.97m
State Street 7.56m 2.59% −266.14k
Fidelity (FMR) 7.20m 2.47% −462.01k
AQR Capital Management 6.48m 2.22% −1.84m
Geode Capital Management 6.15m 2.11% +883.55k
T. Rowe Price 4.15m 1.42% −375.65k
UBS 4.09m 1.40% +9.42k
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 30 April 2026

Chief executive’s pay

Year Total pay Actually paid $100 invested
2026 1.28m (680.33k) 24.75
2025 3.43m 13.70m 23.37
2024 28.08m 21.17m 17.37
2023 75.96m 43.84m 20.16
2022 1.12m (26.70m) 41.47

Ownership

Directors and executive officers, together 46.10% of the votes
Eric S. Yuan 37.70% of the votes
Entities affiliated with Emergence Capital Partners 5.30% of the votes
Santiago Subotovsky 5.30% of the votes
The Vanguard Group 4.90% of the votes
BlackRock, Inc 3.20% of the votes
Dan Scheinman 3.00% 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

Zoom Communications, Inc. (ZM) Latest News

4 Nov

Impact 3 · · Trefis

29 Oct

Impact 3 · · GlobeNewswire

28 Oct

Impact 3 · · Zacks

26 Oct

Impact 3 · · Zacks
Impact 3 · · PR Newswire

22 Oct

Impact 4 · · Simply Wall St.
Impact 4 · · Simply Wall St.
Impact 4 · · Business Wire
Impact 3 · · Zacks
Impact 3 · · Zacks

21 Oct

Impact 4 · · MT Newswires
Impact 4 · · Trefis
Impact 4 · · Investing.com
Impact 4 · · MarketBeat

20 Oct

Impact 4 · · GlobeNewswire
Impact 4 · · PR Newswire
Impact 3 · · Insider Monkey
Impact 3 · · StockStory

19 Oct

Impact 4 · · PR Newswire
Impact 3 · · StockStory
Impact 3 · · Zacks

16 Oct

Impact 3 · · Zacks
Impact 3 · · Zacks

15 Oct

Impact 3 · · StockStory

14 Oct

Impact 3 · · Trefis
Impact 3 · · Zacks

13 Oct

Impact 4 · · PR Newswire

6 Oct

Impact 4 · · PR Newswire
Impact 3 · · PR Newswire

2 Oct

Impact 3 · · Zacks

ZM metrics, ten years each

stockrow.com/ZM · Data as of Oct 26, 2026 · For information only; not investment advice. · © 2026 stockrow.com