Ziff Davis (ZD) Financials

$41.16 +0.65 (+1.60%)

Closing price 05/18/2026 04:00 PM Eastern

Extended Trading

$41.16 0.00 (0.00%)

As of 05:43 AM Eastern

Annual Income Statements for Ziff Davis

This table shows Ziff Davis' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Income / (Loss) Attributable to Common Shareholders	134	152	139	129	219	151	497	64	42	63	47
Consolidated Net Income / (Loss)	134	152	139	129	219	151	497	64	42	63	47
Net Income / (Loss) Continuing Operations	134	152	139	129	41	29	401	65	42	63	47
Total Pre-Tax Income	157	211	200	178	55	78	351	131	75	93	81
Total Operating Income	199	243	246	244	88	138	167	199	133	114	183
Total Gross Profit	598	727	946	1,006	863	980	1,229	1,206	1,178	1,201	1,227
Total Revenue	721	874	1,118	1,207	1,050	1,159	1,417	1,391	1,364	1,402	1,451
Operating Revenue	721	874	1,118	1,207	1,050	1,159	1,417	1,391	1,364	1,402	1,451
Total Cost of Revenue	123	147	172	201	187	178	188	185	186	200	224
Operating Cost of Revenue	123	147	172	201	187	178	188	185	186	200	207
Other Cost of Revenue	-	-	-	-	-	-	-	-	0.00	0.00	18
Total Operating Expenses	398	485	700	762	775	842	1,061	1,008	1,046	1,088	1,062
Selling, General & Admin Expense	205	240	324	375	403	419	457	182	196	203	210
Marketing Expense	159	207	330	338	328	366	493	491	487	520	543
Research & Development Expense	34	38	46	48	45	57	79	74	69	67	62
Depreciation Expense	-	-	-	-	-	-	-	233	237	212	229
Impairment Charge	-	-	-	-	0.00	0.00	33	27	57	85	18
Total Other Income / (Expense), net	-42	-31	-46	-67	-33	-60	184	-68	-58	-20	-85
Interest & Investment Income	-	-	-	-0.07	-4.21	-21	-17	-88	-48	-22	-21
Other Income / (Expense), net	-0.01	10	22	-4.63	-2.31	17	278	8.44	-9.47	1.19	-64
Income Tax Expense	23	59	61	45	14	38	-14	58	24	41	25
Other Gains / (Losses), net	-	0.00	0.00	-4.14	-0.17	-11	36	-7.73	-9.33	11	-7.95
Basic Earnings per Share	$2.76	$3.15	$2.89	$2.64	$4.52	$3.24	$10.81	$1.36	$0.89	$1.42	$1.16
Weighted Average Basic Shares Outstanding	47.63M	47.67M	47.59M	47.95M	47.65M	46.31M	45.89M	46.95M	46.40M	44.46M	40.98M
Diluted Earnings per Share	$2.73	$3.13	$2.83	$2.59	$4.39	$3.18	$10.37	$1.36	$0.89	$1.42	$1.15
Weighted Average Diluted Shares Outstanding	48.09M	47.96M	48.67M	48.93M	49.03M	47.12M	47.86M	47.03M	46.46M	44.52M	41.10M
Weighted Average Basic & Diluted Shares Outstanding	48.40M	48.40M	48.20M	48.70M	48.71M	45.17M	47.27M	47.26M	46.07M	42.85M	37.65M

This table shows Ziff Davis' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Income / (Loss) Attributable to Common Shareholders	-31	63	11	37	-49	64	24	26	14	-17	22
Consolidated Net Income / (Loss)	-31	63	11	37	-49	64	24	26	-3.60	0.37	22
Net Income / (Loss) Continuing Operations	-31	63	11	37	-49	64	9.81	26	14	-17	-0.78
Total Pre-Tax Income	-26	76	20	35	-36	75	6.80	26	9.14	20	-3.28
Total Operating Income	-13	81	36	29	-29	79	14	33	28	86	2.93
Total Gross Profit	285	353	269	271	302	365	232	303	293	349	223
Total Revenue	341	390	314	321	354	413	273	352	364	407	268
Operating Revenue	341	390	314	321	354	413	273	352	364	407	268
Total Cost of Revenue	56	37	46	50	51	47	40	49	71	57	44
Operating Cost of Revenue	56	37	46	50	51	47	40	49	53	57	44
Total Operating Expenses	299	272	233	242	332	287	218	270	265	281	220
Selling, General & Admin Expense	99	-107	50	49	52	-93	43	54	54	55	47
Marketing Expense	125	126	117	125	127	151	112	142	138	136	115
Research & Development Expense	18	16	18	17	15	18	14	16	15	14	14
Depreciation Expense	-	-	48	52	51	-	48	58	57	58	45
Total Other Income / (Expense), net	-12	-4.67	-16	6.51	-6.66	-3.95	-7.67	-7.97	-1.72	-66	-6.21
Interest & Investment Income	-8.84	-29	-12	1.25	-4.02	-16	-6.19	-2.18	-5.82	-6.76	-6.90
Other Income / (Expense), net	-3.57	20	-3.88	5.27	-2.63	10	-1.48	-5.79	4.10	-59	0.69
Income Tax Expense	5.34	13	8.23	6.99	13	14	3.62	4.29	13	-0.20	2.64
Other Gains / (Losses), net	0.09	0.34	-0.65	8.82	-0.08	3.13	6.63	5.12	0.04	-20	5.14
Net Income / (Loss) Discontinued Operations	-	-	-	-	-	-	14	-	-	-	23
Basic Earnings per Share	($0.67)	$1.37	$0.23	$0.81	($1.11)	$1.49	$0.57	$0.63	($0.09)	$0.05	$0.59
Weighted Average Basic Shares Outstanding	46.06M	46.40M	45.86M	45.49M	43.92M	44.46M	42.56M	41.73M	40.56M	40.98M	37.60M
Diluted Earnings per Share	($0.67)	$1.37	$0.23	$0.77	($1.11)	$1.53	$0.57	$0.62	($0.09)	$0.06	$0.59
Weighted Average Diluted Shares Outstanding	46.06M	46.46M	45.96M	50.67M	43.92M	44.52M	42.77M	43.15M	40.56M	41.10M	37.60M
Weighted Average Basic & Diluted Shares Outstanding	45.98M	46.07M	46.13M	44.74M	42.74M	42.85M	42.09M	41.00M	39.50M	37.65M	36.84M

This table details how cash moves in and out of Ziff Davis' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Net Change in Cash & Equivalents	-178	-132	227	-141	366	-333	452	-42	85	-232	101
Net Cash From Operating Activities	229	282	264	401	413	480	517	336	320	390	407
Net Cash From Continuing Operating Activities	229	282	264	401	413	480	517	336	320	390	407
Net Income / (Loss) Continuing Operations	134	152	139	129	219	151	497	64	42	63	47
Consolidated Net Income / (Loss)	134	152	139	129	219	151	497	64	42	63	47
Depreciation Expense	93	122	162	187	232	229	258	233	237	212	229
Non-Cash Adjustments To Reconcile Net Income	18	19	16	56	63	117	-214	117	140	140	154
Changes in Operating Assets and Liabilities, net	-25	-21	-65	18	-115	-45	-25	-78	-99	-25	-23
Net Cash From Investing Activities	-336	-449	-158	-407	-505	-586	59	-221	-127	-297	-146
Net Cash From Continuing Investing Activities	-336	-449	-158	-407	-505	-586	59	-221	-127	-297	-146
Purchase of Property, Plant & Equipment	-17	-25	-40	-56	-71	-93	-114	-106	-109	-107	-119
Acquisitions	-304	-585	-177	-350	-445	-517	-164	-104	-21	-218	-67
Divestitures	0.00	0.00	58	0.00	0.00	25	308	0.00	0.00	7.86	4.44
Sale and/or Maturity of Investments	122	242	0.00	0.00	10	0.00	30	4.53	3.17	19	36
Other Investing Activities, net	-	-	-	-	-	-	-	-0.05	-0.50	-0.57	0.34
Net Cash From Financing Activities	-67	41	112	-131	457	-235	-113	-141	-115	-321	-170
Net Cash From Continuing Financing Activities	-67	41	112	-131	457	-235	-113	-141	-115	-321	-170
Repayment of Debt	4.19	1.78	-494	-1.75	-204	-689	-518	-168	0.25	-136	-1.70
Repurchase of Common Equity	-3.67	-56	-9.85	-47	-21	-276	-78	-78	-109	-185	-174
Issuance of Common Equity	0.26	0.25	0.26	2.08	4.51	7.38	9.23	9.43	8.73	8.37	6.54
Other Financing Activities, net	-9.31	-17	-6.53	-2.02	-14	-28	-11	-16	-15	-7.84	-1.34
Effect of Exchange Rate Changes	-4.13	-6.26	9.24	-4.82	2.18	7.81	-10	-17	7.06	-3.60	10

This table details how cash moves in and out of Ziff Davis' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
Net Change in Cash & Equivalents	-18	77	-2.83	-48	-301	120	-75	26	46	104	-61
Net Cash From Operating Activities	73	92	76	51	106	158	21	57	138	191	30
Net Cash From Continuing Operating Activities	73	92	76	51	106	158	21	57	138	191	30
Net Income / (Loss) Continuing Operations	-31	63	11	37	-49	64	24	26	-3.60	0.37	22
Consolidated Net Income / (Loss)	-31	63	11	37	-49	64	24	26	-3.60	0.37	22
Depreciation Expense	56	70	48	52	51	60	56	58	57	58	50
Non-Cash Adjustments To Reconcile Net Income	71	11	27	3.79	99	10	5.32	5.42	49	94	8.94
Changes in Operating Assets and Liabilities, net	-23	-51	-10	-42	3.87	24	-65	-32	35	39	-51
Net Cash From Investing Activities	-39	-23	-71	-12	-181	-33	-65	-6.77	-45	-29	-33
Net Cash From Continuing Investing Activities	-39	-23	-71	-12	-181	-33	-65	-6.77	-45	-29	-33
Purchase of Property, Plant & Equipment	-27	-26	-28	-26	-26	-27	-26	-30	-30	-33	-33
Acquisitions	-12	-0.07	-45	-12	-155	-6.04	-39	-11	-17	-0.25	0.00
Other Investing Activities, net	-0.40	3.65	-0.07	-0.06	-0.76	0.32	-0.01	0.06	-0.31	0.60	-0.08
Net Cash From Financing Activities	-52	2.02	-6.31	-85	-231	2.10	-35	-32	-45	-59	-53
Net Cash From Continuing Financing Activities	-52	2.02	-6.31	-85	-231	2.10	-35	-32	-45	-59	-53
Repayment of Debt	-0.07	0.30	0.03	-0.97	-135	-0.14	-0.11	-1.49	-0.19	0.08	-1.90
Repurchase of Common Equity	-45	-1.19	-3.92	-84	-96	-1.20	-35	-34	-44	-61	-52
Effect of Exchange Rate Changes	0.34	5.52	-0.60	-1.00	5.70	-7.69	4.35	7.83	-2.84	0.77	-4.45

This table presents Ziff Davis' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	1,784	2,062	2,453	2,561	3,506	3,665	3,770	3,533	3,471	3,704	3,663
Total Current Assets	483	348	620	460	887	623	1,301	1,084	1,191	1,272	1,370
Cash & Equivalents	256	124	351	209	576	176	695	653	738	506	574
Accounts Receivable	115	200	234	222	262	310	316	305	338	660	623
Prepaid Expenses	26	24	35	29	49	52	60	68	89	106	82
Other Current Nonoperating Assets	-	-	-	-	-	84	-	-	-	-	91
Plant, Property, & Equipment, net	57	68	80	99	128	132	161	178	188	197	162
Total Noncurrent Assets	1,243	1,646	1,753	2,002	2,491	2,911	2,308	2,080	2,092	2,235	2,131
Long-Term Investments	79	0.00	58	84	100	97	123	128	141	158	93
Goodwill	808	1,123	1,197	1,380	1,633	1,525	1,531	1,591	1,546	1,580	1,347
Intangible Assets	353	512	486	526	557	697	573	272	325	426	338
Noncurrent Deferred & Refundable Income Taxes	0.00	5.29	-	0.00	60	12	5.92	8.52	8.73	7.49	5.11
Other Noncurrent Operating Assets	4.61	6.45	13	11	141	96	76	80	71	63	25
Other Noncurrent Nonoperating Assets	-	-	-	-	-	484	-	-	-	-	323
Total Liabilities & Shareholders' Equity	1,784	2,062	2,453	2,561	3,506	3,665	3,770	3,533	3,471	3,704	3,663
Total Liabilities	894	1,148	1,433	1,525	2,195	2,454	1,803	1,641	1,578	1,893	1,910
Total Current Liabilities	197	454	265	307	833	883	497	432	432	900	1,075
Short-Term Debt	0.21	179	-	0.00	386	397	55	-	-	0.00	149
Accounts Payable	114	178	170	167	238	198	131	121	217	671	697
Current Deferred Revenue	76	80	95	128	163	166	186	188	185	200	130
Current Deferred & Payable Income Tax Liabilities	5.95	17	0.00	13	18	30	3.15	20	14	20	7.35
Other Current Liabilities	-	0.06	0.01	0.32	29	30	27	22	16	9.50	16
Other Current Nonoperating Liabilities	-	-	-	-	-	61	-	-	-	-	76
Total Noncurrent Liabilities	697	694	1,168	1,218	1,362	1,572	1,305	1,208	1,146	994	835
Long-Term Debt	592	602	1,002	1,013	1,063	1,182	1,036	999	1,001	864	718
Noncurrent Deferred Revenue	6.54	1.59	44	25	24	26	27	21	17	5.50	6.52
Noncurrent Deferred & Payable Income Tax Liabilities	80	87	90	129	160	210	152	119	82	76	61
Other Noncurrent Operating Liabilities	18	3.48	31	51	114	115	91	69	47	48	33
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	38	-	-	-	-	17
Commitments & Contingencies	0.00	0.00	0.00	0.00	-	-	0.00	0.00	-	-	0.00
Total Equity & Noncontrolling Interests	890	915	1,020	1,036	1,311	1,211	1,968	1,893	1,893	1,811	1,754
Total Preferred & Common Equity	890	915	1,020	1,036	1,311	1,211	1,968	1,893	1,893	1,811	1,754
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00	0.00	0.00
Total Common Equity	890	915	1,020	1,036	1,311	1,211	1,968	1,893	1,893	1,811	1,754
Common Stock	293	309	326	355	466	457	510	440	473	492	473
Retained Earnings	627	660	723	770	892	809	1,515	1,538	1,492	1,401	1,338
Accumulated Other Comprehensive Income / (Loss)	-29	-55	-29	-46	-46	-55	-57	-85	-72	-82	-57

This table presents Ziff Davis' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q3 2022	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026
Period end date	9/30/2022	3/31/2023	6/30/2023	9/30/2023	3/31/2024	6/30/2024	9/30/2024	3/31/2025	6/30/2025	9/30/2025	3/31/2026
Total Assets	3,433	3,527	3,469	3,383	3,727	3,664	3,419	3,516	3,519	3,477	3,394
Total Current Assets	975	1,107	1,075	1,064	1,293	1,231	951	1,072	1,102	1,125	1,435
Cash & Equivalents	622	722	679	661	735	687	386	431	457	503	520
Accounts Receivable	232	278	286	291	447	450	471	518	523	473	397
Prepaid Expenses	66	68	74	82	95	94	94	123	122	148	83
Other Current Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	435
Plant, Property, & Equipment, net	171	187	192	186	191	192	197	198	204	208	167
Total Noncurrent Assets	2,287	2,233	2,202	2,133	2,243	2,240	2,271	2,245	2,213	2,145	1,792
Long-Term Investments	124	116	114	140	140	152	153	167	140	120	100
Goodwill	1,580	1,598	1,600	1,540	1,625	1,626	1,573	1,599	1,619	1,606	1,344
Intangible Assets	498	433	402	368	401	386	471	416	398	375	314
Noncurrent Deferred & Refundable Income Taxes	7.64	8.46	8.56	8.57	8.73	8.75	8.62	7.50	7.51	7.52	5.42
Other Noncurrent Operating Assets	76	78	78	77	69	67	66	56	48	36	28
Other Noncurrent Nonoperating Assets	-	-	-	-	-	-	-	-	-	-	0.00
Total Liabilities & Shareholders' Equity	3,433	3,527	3,469	3,383	3,727	3,664	3,419	3,516	3,519	3,477	3,394
Total Liabilities	1,639	1,632	1,607	1,579	1,825	1,794	1,667	1,695	1,677	1,678	1,673
Total Current Liabilities	416	441	436	419	663	644	667	705	693	698	864
Short-Term Debt	0.00	-	-	-	-	-	-	-	-	-	149
Accounts Payable	213	144	127	128	360	368	371	464	474	472	450
Current Deferred Revenue	180	201	189	183	200	198	204	218	209	203	132
Current Deferred & Payable Income Tax Liabilities	-	-	11	4.99	18	6.70	10	14	0.00	5.51	2.71
Other Current Liabilities	23	-	23	20	15	12	11	9.17	9.81	17	16
Other Current Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	114
Total Noncurrent Liabilities	1,223	1,191	1,171	1,160	1,162	1,150	1,000	990	984	980	809
Long-Term Debt	998	1,000	1,000	1,001	1,002	1,002	864	865	865	866	718
Noncurrent Deferred Revenue	20	8.86	17	16	16	6.82	7.51	5.65	5.52	5.62	6.11
Noncurrent Deferred & Payable Income Tax Liabilities	128	68	58	51	65	66	54	75	71	70	50
Other Noncurrent Operating Liabilities	76	115	95	91	79	74	75	44	42	39	34
Other Noncurrent Nonoperating Liabilities	-	-	-	-	-	-	-	-	-	-	0.00
Total Equity & Noncontrolling Interests	1,794	1,895	1,863	1,804	1,902	1,870	1,752	1,821	1,843	1,799	1,722
Total Preferred & Common Equity	1,794	1,895	1,863	1,804	1,902	1,870	1,752	1,821	1,843	1,799	1,722
Preferred Stock	0.00	-	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,794	1,895	1,863	1,804	1,902	1,870	1,752	1,821	1,843	1,799	1,722
Common Stock	433	445	449	463	476	477	481	485	485	483	455
Retained Earnings	1,470	1,531	1,493	1,427	1,504	1,472	1,335	1,407	1,409	1,375	1,332
Accumulated Other Comprehensive Income / (Loss)	-109	-81	-80	-86	-78	-78	-63	-71	-52	-59	-65
Other Equity Adjustments	-	-	-	0.00	0.00	0.00	0.00	0.00	-	0.00	0.00

This table displays calculated financial ratios and metrics derived from Ziff Davis' official financial filings.

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	20.33%	21.29%	27.86%	8.00%	-12.99%	10.32%	22.25%	-1.82%	-1.94%	2.76%	3.54%
EBITDA Growth	17.99%	27.52%	14.82%	-0.80%	-24.24%	24.32%	70.48%	-37.36%	-18.30%	-9.26%	6.47%
EBIT Growth	6.98%	26.80%	5.91%	-10.49%	-64.15%	81.02%	186.33%	-53.43%	-40.62%	-6.75%	3.80%
NOPAT Growth	12.90%	2.99%	-2.04%	6.65%	-63.83%	6.88%	146.52%	-36.23%	-19.02%	-29.71%	98.40%
Net Income Growth	6.63%	14.07%	-8.54%	-7.70%	70.03%	-31.14%	229.67%	-87.16%	-34.90%	51.91%	-24.89%
EPS Growth	5.81%	14.65%	-9.58%	-8.48%	70.03%	-31.14%	226.10%	-86.89%	-34.56%	59.55%	-19.01%
Operating Cash Flow Growth	29.24%	23.28%	-6.36%	51.78%	2.79%	16.37%	7.59%	-34.87%	-4.90%	21.99%	4.29%
Free Cash Flow Firm Growth	-262.18%	11.92%	139.37%	-68.41%	-744.16%	140.89%	95.49%	24.56%	-114.25%	209.59%	431.21%
Invested Capital Growth	102.68%	46.99%	2.70%	8.80%	18.71%	-1.76%	-1.74%	-7.46%	6.83%	1.13%	-4.54%
Revenue Q/Q Growth	5.52%	5.68%	6.13%	2.52%	-19.97%	4.93%	23.56%	-0.85%	-0.50%	1.66%	-0.42%
EBITDA Q/Q Growth	3.09%	5.55%	10.09%	0.00%	-32.09%	0.02%	164.69%	-39.34%	4.63%	2.08%	-13.94%
EBIT Q/Q Growth	0.11%	6.38%	12.77%	-4.28%	-65.96%	-3.40%	1,951.59%	-57.67%	4.08%	16.58%	-31.30%
NOPAT Q/Q Growth	2.16%	3.93%	-4.60%	11.43%	-66.97%	6.72%	1,608.11%	-35.65%	2.55%	-4.27%	0.58%
Net Income Q/Q Growth	2.07%	5.31%	5.06%	0.58%	49.46%	-30.12%	155.65%	-82.13%	-8.89%	1.07%	-57.37%
EPS Q/Q Growth	2.25%	6.10%	4.81%	0.39%	49.46%	-30.12%	149.28%	-82.13%	-10.10%	0.00%	-56.11%
Operating Cash Flow Q/Q Growth	18.27%	3.43%	-1.65%	5.74%	-0.95%	4.54%	-6.82%	-11.35%	18.04%	20.39%	8.78%
Free Cash Flow Firm Q/Q Growth	-102.56%	-396.56%	157.73%	151.07%	-48.60%	-18.24%	152.46%	-54.36%	-135.62%	210.81%	35.53%
Invested Capital Q/Q Growth	0.75%	40.44%	6.04%	5.17%	1.86%	3.35%	-15.86%	-6.51%	0.73%	-3.18%	-5.98%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	82.94%	83.17%	84.59%	83.35%	82.17%	84.60%	86.73%	86.73%	86.39%	85.71%	84.55%
EBITDA Margin	41.85%	44.01%	39.52%	36.30%	31.60%	35.62%	49.67%	31.69%	26.40%	23.31%	23.97%
Operating Margin	27.66%	27.75%	21.98%	20.23%	8.40%	11.94%	11.81%	14.30%	9.72%	8.11%	12.62%
EBIT Margin	27.66%	28.92%	23.95%	19.85%	8.18%	13.42%	31.43%	14.91%	9.03%	8.19%	8.21%
Profit (Net Income) Margin	18.54%	17.44%	12.47%	10.66%	20.83%	13.00%	35.06%	4.58%	3.04%	4.50%	3.26%
Tax Burden Percent	85.16%	72.10%	69.72%	72.46%	399.13%	192.31%	141.37%	48.61%	55.36%	67.65%	58.64%
Interest Burden Percent	78.70%	83.64%	74.69%	74.10%	63.81%	50.38%	78.90%	63.24%	60.88%	81.15%	67.74%
Effective Tax Rate	14.84%	27.90%	30.28%	25.20%	25.10%	48.95%	-4.04%	44.19%	32.20%	44.39%	31.51%
Return on Invested Capital (ROIC)	21.28%	13.25%	10.76%	10.85%	3.44%	3.42%	8.58%	5.73%	4.67%	3.16%	6.38%
ROIC Less NNEP Spread (ROIC-NNEP)	84.59%	7.88%	5.66%	2.62%	23.91%	13.37%	81.88%	-724.89%	-145.12%	3.06%	-36.21%
Return on Net Nonoperating Assets (RNNOA)	-5.65%	3.64%	3.65%	1.67%	15.20%	8.53%	22.67%	-2.43%	-2.48%	0.24%	-3.72%
Return on Equity (ROE)	15.63%	16.89%	14.41%	12.52%	18.65%	11.95%	31.25%	3.30%	2.19%	3.40%	2.66%
Cash Return on Invested Capital (CROIC)	-46.57%	-24.80%	8.09%	2.42%	-13.66%	5.19%	10.33%	13.49%	-1.93%	2.04%	11.02%
Operating Return on Assets (OROA)	11.43%	13.15%	11.86%	9.56%	2.83%	4.34%	11.98%	5.68%	3.52%	3.20%	3.24%
Return on Assets (ROA)	7.66%	7.93%	6.18%	5.13%	7.21%	4.20%	13.36%	1.75%	1.19%	1.76%	1.29%
Return on Common Equity (ROCE)	15.63%	16.89%	14.41%	12.52%	18.65%	11.95%	31.25%	3.30%	2.19%	3.40%	2.66%
Return on Equity Simple (ROE_SIMPLE)	15.01%	16.67%	13.67%	12.42%	16.69%	12.44%	25.24%	3.37%	2.19%	3.48%	0.00%
Net Operating Profit after Tax (NOPAT)	170	175	171	183	66	71	174	111	90	63	125
NOPAT Margin	23.56%	20.00%	15.33%	15.13%	6.29%	6.09%	12.29%	7.98%	6.59%	4.51%	8.64%
Net Nonoperating Expense Percent (NNEP)	-63.31%	5.37%	5.10%	8.23%	-20.46%	-9.95%	-73.30%	730.62%	149.79%	0.10%	42.59%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	-	-	3.84%	3.11%	2.36%	4.79%
Cost of Revenue to Revenue	17.06%	16.83%	15.41%	16.65%	17.83%	15.40%	13.27%	13.27%	13.61%	14.29%	15.45%
SG&A Expenses to Revenue	28.46%	27.41%	28.94%	31.08%	38.33%	36.12%	32.24%	13.07%	14.35%	14.52%	14.47%
R&D to Revenue	4.76%	4.35%	4.12%	4.01%	4.25%	4.93%	5.57%	5.33%	5.05%	4.81%	4.27%
Operating Expenses to Revenue	55.28%	55.43%	62.60%	63.11%	73.77%	72.67%	74.91%	72.43%	76.67%	77.60%	73.15%
Earnings before Interest and Taxes (EBIT)	199	253	268	240	86	156	445	207	123	115	119
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	302	385	442	438	332	413	704	441	360	327	348
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	4.18	4.08	3.45	3.27	3.48	3.68	2.72	1.97	1.63	1.28	0.79
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	127.22	143.53	0.00	0.00
Price to Revenue (P/Rev)	5.16	4.27	3.15	2.80	4.35	3.84	3.77	2.68	2.27	1.66	0.96
Price to Earnings (P/E)	27.85	24.50	25.24	26.30	20.87	29.56	10.76	58.55	74.45	36.84	29.32
Dividend Yield	1.58%	1.75%	2.09%	2.45%	1.88%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	3.59%	4.08%	3.96%	3.80%	4.79%	3.38%	9.29%	1.71%	1.34%	2.71%	3.41%
Enterprise Value to Invested Capital (EV/IC)	3.65	2.80	2.55	2.34	2.56	2.81	2.68	2.09	1.60	1.25	0.81
Enterprise Value to Revenue (EV/Rev)	5.41	5.02	3.68	3.40	5.08	4.97	3.80	2.80	2.34	1.80	1.07
Enterprise Value to EBITDA (EV/EBITDA)	12.93	11.42	9.31	9.37	16.08	13.95	7.66	8.83	8.85	7.72	4.47
Enterprise Value to EBIT (EV/EBIT)	19.56	17.37	15.36	17.12	62.14	37.02	12.10	18.77	25.87	21.97	13.04
Enterprise Value to NOPAT (EV/NOPAT)	22.97	25.11	24.00	22.46	80.80	81.53	30.96	35.06	35.43	39.92	12.40
Enterprise Value to Operating Cash Flow (EV/OCF)	17.03	15.55	15.55	10.23	12.94	11.99	10.43	11.57	9.96	6.46	3.82
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	31.90	100.78	0.00	53.68	25.70	14.90	0.00	61.86	7.18
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.67	0.85	0.98	0.98	1.10	1.30	0.55	0.53	0.53	0.48	0.49
Long-Term Debt to Equity	0.67	0.66	0.98	0.98	0.81	0.98	0.53	0.53	0.53	0.48	0.41
Financial Leverage	-0.07	0.46	0.65	0.64	0.64	0.64	0.28	0.00	0.02	0.08	0.10
Leverage Ratio	2.04	2.13	2.33	2.44	2.58	2.84	2.34	1.89	1.85	1.94	2.07
Compound Leverage Factor	1.61	1.78	1.74	1.81	1.65	1.43	1.85	1.20	1.13	1.57	1.40
Debt to Total Capital	39.96%	46.05%	49.55%	49.45%	52.49%	56.59%	35.66%	34.55%	34.60%	32.31%	33.07%
Short-Term Debt to Total Capital	0.01%	10.55%	0.00%	0.00%	13.97%	14.22%	1.79%	0.00%	0.00%	0.00%	5.67%
Long-Term Debt to Total Capital	39.94%	35.50%	49.55%	49.45%	38.52%	42.37%	33.88%	34.55%	34.60%	32.31%	27.40%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	60.04%	53.95%	50.45%	50.55%	47.51%	43.41%	64.34%	65.45%	65.40%	67.69%	66.93%
Debt to EBITDA	1.96	2.03	2.27	2.31	4.36	3.83	1.55	2.27	2.78	2.65	2.49
Net Debt to EBITDA	0.59	1.71	1.34	1.64	2.33	3.16	0.06	0.36	0.27	0.61	0.48
Long-Term Debt to EBITDA	1.96	1.56	2.27	2.31	3.20	2.86	1.47	2.27	2.78	2.65	2.06
Debt to NOPAT	3.49	4.46	5.85	5.55	21.92	22.36	6.26	9.00	11.14	13.68	6.91
Net Debt to NOPAT	1.05	3.75	3.46	3.94	11.69	18.47	0.25	1.44	1.06	3.17	1.33
Long-Term Debt to NOPAT	3.49	3.44	5.85	5.55	16.09	16.74	5.95	9.00	11.14	13.68	5.72
Altman Z-Score	3.96	3.17	2.88	2.60	2.00	1.77	3.36	2.78	2.55	1.87	1.55
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.46	0.77	2.34	1.50	1.06	0.71	2.62	2.51	2.76	1.41	1.27
Quick Ratio	2.29	0.71	2.21	1.40	1.01	0.55	2.49	2.35	2.55	1.30	1.19
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-372	-327	129	41	-262	107	210	261	-37	41	217
Operating Cash Flow to CapEx	1,324.28%	1,141.14%	667.81%	711.83%	584.43%	518.71%	454.14%	316.94%	294.27%	366.03%	341.51%
Free Cash Flow to Firm to Interest Expense	-8.75	-7.91	1.90	0.66	-9.76	1.91	2.71	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	5.40	6.83	3.90	6.47	15.34	8.54	6.68	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	4.99	6.23	3.32	5.56	12.72	6.90	5.21	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.41	0.45	0.50	0.48	0.35	0.32	0.38	0.38	0.39	0.39	0.39
Accounts Receivable Turnover	6.99	5.56	5.15	5.30	4.34	4.06	4.53	4.48	4.25	2.81	2.19
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	15.07	13.93	15.12	13.52	9.27	8.94	9.68	8.20	7.45	7.27	7.07
Accounts Payable Turnover	1.17	1.01	0.99	1.20	0.93	0.82	1.14	1.47	1.10	0.45	0.32
Days Sales Outstanding (DSO)	52.25	65.66	70.87	68.90	84.01	90.00	80.63	81.49	85.96	129.93	166.93
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	311.24	362.84	368.48	305.29	394.14	445.92	319.12	249.02	332.03	808.72	1,123.67
Cash Conversion Cycle (CCC)	-258.99	-297.17	-297.61	-236.39	-310.14	-355.92	-238.50	-167.53	-246.08	-678.79	-956.74
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,069	1,571	1,614	1,756	2,084	2,047	2,012	1,862	1,989	2,011	1,920
Invested Capital Turnover	0.90	0.66	0.70	0.72	0.55	0.56	0.70	0.72	0.71	0.70	0.74
Increase / (Decrease) in Invested Capital	542	502	42	142	328	-37	-36	-150	127	22	-91
Enterprise Value (EV)	3,900	4,392	4,112	4,104	5,339	5,758	5,390	3,893	3,185	2,523	1,555
Market Capitalization	3,721	3,735	3,519	3,384	4,567	4,454	5,346	3,733	3,090	2,323	1,389
Book Value per Share	$18.35	$19.03	$21.08	$21.01	$26.91	$26.56	$40.81	$40.10	$41.17	$42.37	$44.39
Tangible Book Value per Share	($5.57)	($14.98)	($13.68)	($17.67)	($18.03)	($22.17)	($2.83)	$0.62	$0.47	($4.57)	($5.02)
Total Capital	1,483	1,695	2,022	2,049	2,760	2,790	3,058	2,892	2,894	2,675	2,620
Total Debt	592	781	1,002	1,013	1,448	1,579	1,091	999	1,001	864	867
Total Long-Term Debt	592	602	1,002	1,013	1,063	1,182	1,036	999	1,001	864	718
Net Debt	179	657	593	720	773	1,304	44	160	96	200	166
Capital Expenditures (CapEx)	17	25	40	56	71	93	114	106	109	107	119
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-49	-51	4.38	-56	-136	-40	-66	-59	-5.56	-133	-163
Debt-free Net Working Capital (DFNWC)	286	73	355	153	439	137	858	652	759	372	444
Net Working Capital (NWC)	286	-106	355	153	54	-260	803	652	759	372	295
Net Nonoperating Expense (NNE)	36	22	32	54	-153	-80	-323	47	48	0.15	78
Net Nonoperating Obligations (NNO)	179	657	593	720	773	836	44	-31	96	200	166
Total Depreciation and Amortization (D&A)	102	132	174	199	246	257	258	233	237	212	229
Debt-free, Cash-free Net Working Capital to Revenue	-6.77%	-5.86%	0.39%	-4.68%	-12.97%	-3.45%	-4.66%	-4.27%	-0.41%	-9.52%	-11.22%
Debt-free Net Working Capital to Revenue	39.73%	8.32%	31.79%	12.67%	41.82%	11.83%	60.57%	46.86%	55.66%	26.57%	30.60%
Net Working Capital to Revenue	39.70%	-12.13%	31.79%	12.67%	5.12%	-22.41%	56.71%	46.86%	55.66%	26.57%	20.36%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$2.43	$2.77	$2.54	$2.32	$3.97	$2.85	$10.81	$1.36	$0.89	$1.42	$1.16
Adjusted Weighted Average Basic Shares Outstanding	54.21M	54.25M	54.16M	54.57M	54.23M	52.70M	45.89M	46.95M	46.40M	44.46M	40.98M
Adjusted Diluted Earnings per Share	$2.40	$2.75	$2.49	$2.28	$3.86	$2.79	$10.37	$1.36	$0.89	$1.42	$1.15
Adjusted Weighted Average Diluted Shares Outstanding	54.73M	54.59M	55.39M	55.69M	55.80M	53.63M	47.86M	47.03M	46.46M	44.52M	41.10M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	55.39M	54.82M	55.88M	55.49M	55.44M	51.41M	47.27M	47.26M	46.07M	42.85M	37.65M
Normalized Net Operating Profit after Tax (NOPAT)	170	175	171	183	66	71	140	126	128	111	137
Normalized NOPAT Margin	23.56%	20.00%	15.33%	15.13%	6.29%	6.09%	9.88%	9.08%	9.42%	7.89%	9.47%
Pre Tax Income Margin	21.77%	24.19%	17.89%	14.71%	5.22%	6.76%	24.80%	9.43%	5.50%	6.65%	5.56%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	4.70	6.11	3.95	3.87	3.20	2.77	5.76	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	4.00	4.23	2.53	2.95	2.46	1.26	2.25	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	4.29	5.51	3.37	2.96	0.57	1.12	4.29	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	3.59	3.63	1.94	2.04	-0.17	-0.39	0.78	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	44.02%	43.19%	52.69%	64.17%	20.07%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	46.77%	80.25%	59.76%	100.77%	29.58%	182.95%	15.77%	122.80%	261.49%	293.72%	367.01%

This table displays calculated financial ratios and metrics derived from Ziff Davis' official financial filings.

Metric	Q3 2023	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026
Period end date	9/30/2023	12/31/2023	3/31/2024	6/30/2024	9/30/2024	12/31/2024	3/31/2025	6/30/2025	9/30/2025	12/31/2025	3/31/2026
DEI Shares Outstanding	-	-	-	-	-	-	-	-	-	-	37,654,436.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	37,654,436.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	0.59
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	-0.26%	-1.72%	2.39%	-1.60%	3.69%	5.88%	4.50%	9.79%	2.87%	-1.48%	-1.90%
EBITDA Growth	-58.28%	5.44%	34.76%	-2.22%	-50.17%	-12.81%	9.61%	-0.78%	362.78%	-39.98%	-22.41%
EBIT Growth	-145.10%	-2.25%	531.71%	7.87%	-89.09%	-12.07%	1.09%	-18.14%	201.84%	-67.08%	-72.14%
NOPAT Growth	-159.30%	-1.84%	-52.44%	-19.16%	-120.02%	-4.14%	13.93%	21.78%	44.88%	35.42%	-69.69%
Net Income Growth	-270.31%	-6.00%	239.33%	121.30%	-56.85%	1.05%	128.09%	-28.63%	92.59%	-99.42%	-8.16%
EPS Growth	-271.79%	-4.86%	243.75%	113.89%	-65.67%	11.68%	143.48%	-19.48%	91.89%	-96.08%	3.51%
Operating Cash Flow Growth	-27.72%	113.12%	-34.47%	27.28%	45.53%	71.77%	-72.72%	12.87%	30.52%	20.76%	45.31%
Free Cash Flow Firm Growth	-98.20%	-127.55%	0.02%	-43.12%	-1,747.59%	169.44%	-301.54%	-311.99%	119.37%	326.53%	745.42%
Invested Capital Growth	-0.84%	6.83%	-0.24%	-0.04%	5.21%	1.13%	3.74%	3.85%	-1.69%	-4.54%	-21.08%
Revenue Q/Q Growth	4.59%	14.34%	-19.34%	2.01%	10.22%	16.76%	-20.39%	7.17%	3.27%	11.82%	-34.19%
EBITDA Q/Q Growth	-57.21%	337.35%	-52.80%	27.68%	-78.19%	665.35%	-40.67%	-3.24%	5.32%	-5.85%	-36.87%
EBIT Q/Q Growth	-149.39%	696.65%	-68.27%	73.41%	-186.58%	377.47%	-63.52%	-14.32%	17.44%	-18.05%	-86.42%
NOPAT Q/Q Growth	-132.95%	818.22%	-69.05%	10.38%	-189.67%	412.93%	-63.21%	17.97%	-140.59%	868.82%	-97.64%
Net Income Q/Q Growth	-285.69%	304.78%	-83.24%	247.32%	-231.61%	231.93%	-62.18%	8.68%	-113.66%	110.28%	5,916.49%
EPS Q/Q Growth	-286.11%	304.48%	-83.21%	234.78%	-244.16%	237.84%	-63.40%	10.71%	-114.52%	166.67%	883.33%
Operating Cash Flow Q/Q Growth	83.27%	26.52%	-17.98%	-33.08%	109.56%	49.33%	-86.97%	176.88%	142.32%	38.17%	-84.32%
Free Cash Flow Firm Q/Q Growth	-82.10%	-903.70%	142.61%	-7.22%	-618.58%	133.87%	-223.66%	2.41%	147.38%	645.98%	148.14%
Invested Capital Q/Q Growth	-2.92%	0.73%	1.21%	0.99%	2.19%	-3.18%	3.83%	1.10%	-3.27%	-5.98%	-14.16%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	83.72%	90.52%	85.41%	83.61%	84.94%	88.51%	85.64%	86.10%	80.56%	85.92%	83.44%
EBITDA Margin	11.43%	43.71%	25.58%	27.75%	5.49%	35.99%	26.83%	24.22%	24.70%	20.80%	19.95%
Operating Margin	-3.91%	20.70%	11.40%	8.91%	-8.29%	19.02%	10.69%	9.51%	7.82%	21.16%	1.10%
EBIT Margin	-4.95%	25.85%	10.17%	11.50%	-9.03%	21.47%	9.84%	7.86%	8.94%	6.55%	1.35%
Profit (Net Income) Margin	-9.08%	16.27%	3.38%	11.51%	-13.74%	15.52%	7.38%	7.48%	-0.99%	0.09%	8.32%
Tax Burden Percent	120.39%	83.40%	54.49%	105.21%	135.08%	85.94%	92.53%	103.25%	-39.36%	1.86%	-679.52%
Interest Burden Percent	152.32%	75.46%	60.99%	95.11%	112.60%	84.15%	81.03%	92.12%	28.11%	74.64%	-90.50%
Effective Tax Rate	0.00%	17.04%	42.20%	19.92%	0.00%	18.25%	32.78%	16.80%	139.77%	-1.03%	0.00%
Return on Invested Capital (ROIC)	-1.89%	12.17%	4.49%	4.79%	-3.95%	10.90%	4.96%	5.53%	-2.20%	15.78%	0.59%
ROIC Less NNEP Spread (ROIC-NNEP)	-13.67%	1.22%	-4.16%	13.20%	-15.29%	10.83%	5.29%	4.82%	0.52%	-31.46%	21.53%
Return on Net Nonoperating Assets (RNNOA)	-1.40%	0.02%	-0.26%	1.18%	-2.13%	0.87%	0.54%	0.56%	0.08%	-3.23%	1.17%
Return on Equity (ROE)	-3.29%	12.19%	4.23%	5.97%	-6.08%	11.76%	5.50%	6.09%	-2.12%	12.55%	1.77%
Cash Return on Invested Capital (CROIC)	5.27%	-1.93%	4.81%	4.46%	-1.82%	2.04%	-0.46%	-0.55%	7.76%	11.02%	29.56%
Operating Return on Assets (OROA)	-1.99%	10.07%	3.84%	4.40%	-3.66%	8.39%	3.85%	3.17%	3.78%	2.58%	0.57%
Return on Assets (ROA)	-3.65%	6.34%	1.28%	4.41%	-5.57%	6.07%	2.88%	3.01%	-0.42%	0.04%	3.48%
Return on Common Equity (ROCE)	-3.29%	12.19%	4.23%	5.97%	-6.08%	11.76%	5.50%	6.09%	-2.12%	12.55%	1.77%
Return on Equity Simple (ROE_SIMPLE)	2.52%	0.00%	3.14%	4.28%	3.56%	0.00%	4.21%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-9.32	67	21	23	-21	64	24	28	-11	87	2.05
NOPAT Margin	-2.73%	17.17%	6.59%	7.13%	-5.80%	15.55%	7.19%	7.91%	-3.11%	21.37%	0.77%
Net Nonoperating Expense Percent (NNEP)	11.78%	10.95%	8.64%	-8.41%	11.34%	0.07%	-0.33%	0.70%	-2.72%	47.24%	-20.93%
Return On Investment Capital (ROIC_SIMPLE)	-	2.31%	0.71%	-	-	2.40%	0.88%	1.03%	-0.42%	3.32%	0.08%
Cost of Revenue to Revenue	16.28%	9.48%	14.59%	16.39%	15.06%	11.49%	14.36%	13.90%	19.44%	14.08%	16.56%
SG&A Expenses to Revenue	29.11%	-27.38%	15.74%	30.57%	28.76%	-22.55%	14.27%	15.35%	14.85%	13.54%	17.43%
R&D to Revenue	5.16%	3.98%	5.65%	5.24%	4.31%	4.25%	4.83%	4.68%	4.23%	3.49%	5.10%
Operating Expenses to Revenue	87.62%	69.81%	74.01%	74.70%	93.23%	69.49%	74.95%	76.59%	72.74%	69.09%	82.35%
Earnings before Interest and Taxes (EBIT)	-17	101	32	37	-32	89	32	28	33	27	3.62
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	39	170	80	89	19	149	88	85	90	85	53
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	1.64	1.63	1.52	1.36	1.24	1.28	0.88	0.69	0.87	0.79	0.92
Price to Tangible Book Value (P/TBV)	0.00	143.53	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	24.86
Price to Revenue (P/Rev)	2.16	2.27	2.11	1.86	1.58	1.66	1.14	0.88	1.07	0.96	1.09
Price to Earnings (P/E)	64.99	74.45	48.51	31.75	34.90	36.84	21.00	19.28	12.14	29.32	34.82
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	1.54%	1.34%	2.06%	3.15%	2.87%	2.71%	4.76%	5.19%	8.23%	3.41%	2.87%
Enterprise Value to Invested Capital (EV/IC)	1.59	1.60	1.50	1.33	1.20	1.25	0.90	0.73	0.88	0.81	1.11
Enterprise Value to Revenue (EV/Rev)	2.28	2.34	2.19	1.98	1.81	1.80	1.33	1.07	1.24	1.07	1.26
Enterprise Value to EBITDA (EV/EBITDA)	9.10	8.85	7.90	7.96	7.82	7.72	5.61	4.62	4.47	4.47	5.50
Enterprise Value to EBIT (EV/EBIT)	26.46	25.87	20.06	23.80	25.40	21.97	16.29	14.14	10.40	13.04	16.64
Enterprise Value to NOPAT (EV/NOPAT)	35.71	35.43	32.71	30.12	37.90	39.92	28.55	23.05	14.48	12.40	16.29
Enterprise Value to Operating Cash Flow (EV/OCF)	11.55	9.96	10.74	9.28	7.72	6.46	5.60	4.51	4.82	3.82	4.39
Enterprise Value to Free Cash Flow (EV/FCFF)	29.96	0.00	31.05	29.82	0.00	61.86	0.00	0.00	11.29	7.18	3.31
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.55	0.53	0.53	0.54	0.49	0.48	0.47	0.47	0.48	0.49	0.50
Long-Term Debt to Equity	0.55	0.53	0.53	0.54	0.49	0.48	0.47	0.47	0.48	0.41	0.42
Financial Leverage	0.10	0.02	0.06	0.09	0.14	0.08	0.10	0.12	0.16	0.10	0.05
Leverage Ratio	1.89	1.85	1.91	1.91	1.91	1.94	1.95	1.93	1.94	2.07	1.95
Compound Leverage Factor	2.89	1.40	1.17	1.82	2.15	1.63	1.58	1.78	0.55	1.54	-1.77
Debt to Total Capital	35.68%	34.60%	34.50%	34.90%	33.02%	32.31%	32.20%	31.96%	32.49%	33.07%	33.50%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	5.67%	5.75%
Long-Term Debt to Total Capital	35.68%	34.60%	34.50%	34.90%	33.02%	32.31%	32.20%	31.96%	32.49%	27.40%	27.75%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	64.32%	65.40%	65.50%	65.10%	66.98%	67.69%	67.80%	68.04%	67.51%	66.93%	66.50%
Debt to EBITDA	2.91	2.78	2.63	2.95	2.70	2.65	2.59	2.59	2.14	2.49	2.61
Net Debt to EBITDA	0.49	0.27	0.29	0.48	1.01	0.61	0.80	0.80	0.60	0.48	0.74
Long-Term Debt to EBITDA	2.91	2.78	2.63	2.95	2.70	2.65	2.59	2.59	2.14	2.06	2.16
Debt to NOPAT	11.41	11.14	10.89	11.17	13.08	13.68	13.15	12.93	6.95	6.91	7.73
Net Debt to NOPAT	1.94	1.06	1.20	1.81	4.92	3.17	4.06	4.01	1.95	1.33	2.20
Long-Term Debt to NOPAT	11.41	11.14	10.89	11.17	13.08	13.68	13.15	12.93	6.95	5.72	6.40
Altman Z-Score	2.33	2.53	2.12	2.01	1.80	1.84	1.69	1.59	1.71	1.46	1.75
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	2.54	2.76	1.95	1.91	1.43	1.41	1.52	1.59	1.61	1.27	1.66
Quick Ratio	2.34	2.55	1.81	1.77	1.28	1.30	1.35	1.41	1.40	1.19	1.06
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	7.49	-60	26	24	-123	42	-52	-50	24	178	442
Operating Cash Flow to CapEx	267.42%	350.89%	268.61%	198.26%	410.01%	582.62%	80.46%	189.41%	458.92%	573.65%	90.42%
Free Cash Flow to Firm to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.40	0.39	0.38	0.38	0.41	0.39	0.39	0.40	0.42	0.39	0.42
Accounts Receivable Turnover	5.23	4.25	3.78	3.71	3.62	2.81	2.94	2.97	3.09	2.19	3.16
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	7.67	7.45	7.26	7.10	7.19	7.27	7.28	7.30	7.19	7.07	7.92
Accounts Payable Turnover	1.17	1.10	0.74	0.82	0.81	0.45	0.49	0.48	0.52	0.32	0.50
Days Sales Outstanding (DSO)	69.73	85.96	96.43	98.36	100.87	129.93	124.35	122.75	118.18	166.93	115.52
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	311.67	332.03	495.15	443.30	452.20	808.72	745.47	766.12	699.32	1,123.67	731.17
Cash Conversion Cycle (CCC)	-241.94	-246.08	-398.71	-344.94	-351.33	-678.79	-621.12	-643.37	-581.15	-956.74	-615.66
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	1,974	1,989	2,013	2,033	2,077	2,011	2,088	2,111	2,042	1,920	1,648
Invested Capital Turnover	0.69	0.71	0.68	0.67	0.68	0.70	0.69	0.70	0.71	0.74	0.77
Increase / (Decrease) in Invested Capital	-17	127	-4.91	-0.91	103	22	75	78	-35	-91	-440
Enterprise Value (EV)	3,131	3,185	3,010	2,702	2,502	2,523	1,877	1,542	1,805	1,555	1,827
Market Capitalization	2,960	3,090	2,899	2,539	2,177	2,323	1,610	1,274	1,562	1,389	1,580
Book Value per Share	$38.81	$41.17	$41.47	$40.54	$39.17	$42.37	$42.51	$43.78	$43.87	$44.39	$45.72
Tangible Book Value per Share	($2.23)	$0.47	($2.69)	($3.08)	($6.51)	($4.57)	($4.51)	($4.14)	($4.45)	($5.02)	$1.69
Total Capital	2,805	2,894	2,904	2,872	2,616	2,675	2,686	2,708	2,665	2,620	2,589
Total Debt	1,001	1,001	1,002	1,002	864	864	865	865	866	867	867
Total Long-Term Debt	1,001	1,001	1,002	1,002	864	864	865	865	866	718	718
Net Debt	170	96	111	163	325	200	267	268	243	166	247
Capital Expenditures (CapEx)	27	26	28	26	26	27	26	30	30	33	33
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-46	-5.56	-121	-100	-102	-133	-63	-48	-77	-163	201
Debt-free Net Working Capital (DFNWC)	644	759	630	587	284	372	368	410	427	444	721
Net Working Capital (NWC)	644	759	630	587	284	372	368	410	427	295	572
Net Nonoperating Expense (NNE)	22	3.54	10	-14	28	0.10	-0.62	1.52	-7.71	87	-20
Net Nonoperating Obligations (NNO)	170	96	111	163	325	200	267	268	243	166	-74
Total Depreciation and Amortization (D&A)	56	70	48	52	51	60	56	58	57	58	50
Debt-free, Cash-free Net Working Capital to Revenue	-3.37%	-0.41%	-8.85%	-7.31%	-7.43%	-9.52%	-4.48%	-3.29%	-5.27%	-11.22%	13.89%
Debt-free Net Working Capital to Revenue	46.99%	55.66%	45.92%	42.99%	20.57%	26.57%	25.96%	28.30%	29.27%	30.60%	49.83%
Net Working Capital to Revenue	46.99%	55.66%	45.92%	42.99%	20.57%	26.57%	25.96%	28.30%	29.27%	20.36%	39.54%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.67)	$1.37	$0.23	$0.81	($1.11)	$1.49	$0.57	$0.63	($0.09)	$0.05	$0.59
Adjusted Weighted Average Basic Shares Outstanding	46.06M	46.40M	45.86M	45.49M	43.92M	44.46M	42.56M	41.73M	40.56M	40.98M	37.60M
Adjusted Diluted Earnings per Share	($0.67)	$1.37	$0.23	$0.77	($1.11)	$1.53	$0.56	$0.62	($0.09)	$0.06	$0.59
Adjusted Weighted Average Diluted Shares Outstanding	46.06M	46.46M	45.96M	50.67M	43.92M	44.52M	44.17M	43.15M	40.56M	41.10M	37.60M
Adjusted Basic & Diluted Earnings per Share	$0.00	$1.37	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	45.98M	46.07M	46.13M	44.74M	42.74M	42.85M	42.09M	41.00M	39.50M	37.65M	36.84M
Normalized Net Operating Profit after Tax (NOPAT)	30	67	21	23	39	64	24	28	20	60	2.05
Normalized NOPAT Margin	8.94%	17.17%	6.59%	7.13%	11.08%	15.55%	7.19%	7.91%	5.47%	14.81%	0.77%
Pre Tax Income Margin	-7.54%	19.51%	6.20%	10.94%	-10.17%	18.06%	7.97%	7.24%	2.51%	4.89%	-1.22%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	239.48%	261.49%	183.37%	167.25%	296.83%	293.72%	281.97%	251.30%	103.02%	367.01%	419.79%

Financials Breakdown Chart

Key Financial Trends

Below is a concise, data-driven snapshot of Ziff Davis (ZD) using the last four years of quarterly statements provided. The focus is on trends that may matter to retail investors, including revenue, profitability, cash flow, and balance-sheet strength. Items are grouped with positive first, then neutral, then negative.

Revenue growth in 2025 across most quarters: Q1 2025 revenue $328.6M, Q2 2025 $352.2M, Q3 2025 $363.7M, vs. respective 2024 quarters (Q1 $314.5M, Q2 $320.8M, Q3 $353.6M). Q4 2025 revenue was $406.7M (slightly down vs Q4 2024 $412.8M). Overall, 2025 shows an uptrend in several quarters versus 2024, suggesting improving top-line momentum across much of the year.
High and stable gross margins: Total Gross Profit margins remained strong in the 80s–90s across recent quarters (e.g., Q4 2025 gross profit $349.4M on $406.7M revenue, roughly 86% gross margin), indicating good pricing power and cost discipline within the business.
Robust operating cash flow in 2025 (progressive growth through the year): Net cash from continuing operating activities was $57.1M (Q2 2025), $138.3M (Q3 2025), and $191.1M (Q4 2025). This shows strong cash generation from core operations in the latter part of 2025.
Solid liquidity and a growing equity base on the balance sheet: Cash & equivalents around $503M (Q3 2025), Total assets about $3.48B, and Total equity near $1.80B, suggesting ample liquidity and a stable capital base to support operations and potential growth activities.
Active capital return through share repurchases in 2025: Financing activity includes meaningful share repurchases (e.g., Q2 2025: $33.9M; Q3 2025: $44.4M; Q4 2025: $60.6M in repurchases), signaling a return of capital to shareholders and potential upside if the market prices these repurchases favorably.
Positive earnings per share in several 2025 quarters: Basic EPS of $0.57 (Q1 2025) and $0.63 (Q2 2025 and Q3 2025) with Diluted EPS also around $0.56–$0.63 in those quarters, suggesting improving profitability in the first three quarters of 2025.
Debt levels appear manageable with a stable long-term liability profile: Long-Term Debt around $865–$865.9M (and total liabilities around $1.68B in mid-2025), indicating a relatively balanced leverage position given the size of assets and equity.
Earnings volatility is present but range-bound: Net income to shareholders fluctuates (e.g., Q3 2025 +$13.97M; Q4 2025 at -$17.20M), reflecting quarterly variability in non-operating items and taxes, though core cash generation remains solid.
Near-term earnings softness in Q4 2025: Net income attributable to common shareholders turned negative in Q4 2025 (-$17.20M), signaling a softer quarter despite strong revenue and gross margin in the period.
Ongoing financing outflows from buybacks weigh on cash flow: Recurrent repurchases in 2025 (Q2–Q4) contributed to financing outflows, which may limit cash available for other opportunities such as debt reduction or acquisitions.

05/19/26 07:18 AM ETAI Generated. May Contain Errors.

Ziff Davis Financials - Frequently Asked Questions

According to the most recent income statement we have on file, Ziff Davis' fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

Ziff Davis' net income appears to be on a downward trend, with a most recent value of $47.35 million in 2025, falling from $133.64 million in 2015. The previous period was $63.05 million in 2024. Check out Ziff Davis' forecast to explore projected trends and price targets.

Ziff Davis' total operating income in 2025 was $183.09 million, based on the following breakdown:

Total Gross Profit: $1.23 billion
Total Operating Expenses: $1.06 billion

Over the last 10 years, Ziff Davis' total revenue changed from $720.82 million in 2015 to $1.45 billion in 2025, a change of 101.3%.

Ziff Davis' total liabilities were at $1.91 billion at the end of 2025, a 0.9% increase from 2024, and a 113.7% increase since 2015.

In the past 10 years, Ziff Davis' cash and equivalents has ranged from $123.95 million in 2016 to $737.61 million in 2023, and is currently $573.78 million as of their latest financial filing in 2025.

Over the last 10 years, Ziff Davis' book value per share changed from 18.35 in 2015 to 44.39 in 2025, a change of 142.0%.

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Financial statements for NASDAQ:ZD last updated on 5/12/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Ziff Davis (ZD) Financials

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