Zoom Communications (ZM) Financials

$85.20 +0.57 (+0.67%)

Closing price 04:00 PM Eastern

Extended Trading

$85.11 -0.09 (-0.11%)

As of 06:46 PM Eastern

Annual Income Statements for Zoom Communications

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-8.23	0.00	22	672	1,375	104	637	1,010
Consolidated Net Income / (Loss)	-3.82	7.58	25	672	1,376	104	637	1,010
Net Income / (Loss) Continuing Operations	-3.82	7.58	25	672	1,376	104	637	1,010
Total Pre-Tax Income	-3.52	8.35	26	678	1,102	249	832	1,316
Total Operating Income	-4.83	6.17	13	660	1,064	245	525	813
Total Gross Profit	121	270	507	1,829	3,045	3,293	3,449	3,536
Total Revenue	151	331	623	2,651	4,100	4,393	4,527	4,665
Operating Revenue	151	331	623	2,651	4,100	4,393	4,527	4,665
Total Cost of Revenue	31	61	115	822	1,055	1,100	1,078	1,130
Operating Cost of Revenue	31	61	115	822	1,055	1,100	1,078	1,130
Total Operating Expenses	126	263	495	1,170	1,982	3,047	2,924	2,723
Selling, General & Admin Expense	27	45	87	321	483	576	580	443
Marketing Expense	83	186	341	685	1,136	1,697	1,541	1,427
Research & Development Expense	16	33	67	164	363	774	803	852
Total Other Income / (Expense), net	1.32	2.18	14	18	38	3.85	307	502
Interest & Investment Income	1.32	2.18	14	18	38	3.85	307	502
Income Tax Expense	0.30	0.77	1.06	5.72	-274	146	195	305
Net Income / (Loss) Attributable to Noncontrolling Interest	0.00	7.58	3.56	0.79	0.58	0.01	0.00	0.00
Basic Earnings per Share	($0.11)	$0.00	$0.09	$2.37	$4.64	$0.35	$2.12	$3.28
Weighted Average Basic Shares Outstanding	78.12M	84.48M	233.64M	283.85M	296.33M	296.56M	300.75M	307.98M
Diluted Earnings per Share	($0.11)	$0.00	$0.09	$2.25	$4.50	$0.34	$2.07	$3.21
Weighted Average Diluted Shares Outstanding	78.12M	116.01M	254.30M	298.13M	305.83M	304.23M	308.52M	315.07M
Weighted Average Basic & Diluted Shares Outstanding	-	0.00	241.70M	293.71M	299.12M	293.84M	307.56M	305.23M

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025
Net Income / (Loss) Attributable to Common Shareholders	-104	15	182	141	299	216	219	207	368	255	359
Consolidated Net Income / (Loss)	-104	15	182	141	299	216	219	207	368	255	359
Net Income / (Loss) Continuing Operations	-104	15	182	141	299	216	219	207	368	255	359
Total Pre-Tax Income	-40	43	250	186	353	292	293	280	450	316	448
Total Operating Income	-130	9.74	178	169	169	203	202	183	225	242	322
Total Gross Profit	823	841	872	866	870	868	877	894	897	896	944
Total Revenue	1,118	1,105	1,139	1,137	1,146	1,141	1,163	1,178	1,184	1,175	1,217
Operating Revenue	1,118	1,105	1,139	1,137	1,146	1,141	1,163	1,178	1,184	1,175	1,217
Total Cost of Revenue	294	264	267	271	276	273	285	284	287	278	273
Operating Cost of Revenue	294	264	267	271	276	273	285	284	287	278	273
Total Operating Expenses	953	832	694	696	702	665	675	711	672	655	622
Selling, General & Admin Expense	186	200	129	125	125	111	110	126	96	102	77
Marketing Expense	506	423	373	374	371	348	359	362	359	347	339
Research & Development Expense	261	209	192	197	205	206	207	223	217	205	206
Total Other Income / (Expense), net	90	33	73	16	184	89	91	98	225	74	126
Interest & Investment Income	90	33	73	16	184	89	91	98	225	74	126
Income Tax Expense	65	28	68	45	54	76	74	73	82	61	90
Basic Earnings per Share	($0.34)	$0.05	$0.61	$0.47	$0.99	$0.70	$0.71	$0.67	$1.20	$0.84	$1.19
Weighted Average Basic Shares Outstanding	296.56M	295.41M	299.09M	302.49M	300.75M	308.70M	309.14M	307.53M	307.98M	304.91M	301.78M
Diluted Earnings per Share	($0.34)	$0.05	$0.59	$0.45	$0.98	$0.69	$0.70	$0.66	$1.16	$0.81	$1.16
Weighted Average Diluted Shares Outstanding	304.23M	304.12M	305.93M	310.39M	308.52M	315.36M	314.03M	314.19M	315.07M	312.78M	308.22M
Weighted Average Basic & Diluted Shares Outstanding	293.84M	297.54M	300.96M	304.42M	307.56M	309.28M	307.79M	306.49M	305.23M	302.55M	299.29M

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

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Net Change in Cash & Equivalents	-98	29	268	1,959	-1,220	27	465	-204
Net Cash From Operating Activities	19	51	152	1,471	1,605	1,290	1,599	1,945
Net Cash From Continuing Operating Activities	19	51	152	1,471	1,605	1,290	1,599	1,945
Net Income / (Loss) Continuing Operations	-3.82	7.58	25	672	1,376	104	637	1,010
Consolidated Net Income / (Loss)	-3.82	7.58	25	672	1,376	104	637	1,010
Depreciation Expense	2.79	7.01	16	29	48	82	104	123
Amortization Expense	9.02	21	37	110	203	261	220	210
Non-Cash Adjustments To Reconcile Net Income	11	-35	85	340	165	1,416	1,016	815
Changes in Operating Assets and Liabilities, net	0.38	51	-12	320	-186	-572	-379	-213
Net Cash From Investing Activities	-113	-40	-499	-1,562	-2,859	-318	-1,184	-1,106
Net Cash From Continuing Investing Activities	-113	-40	-499	-1,562	-2,859	-318	-1,184	-1,106
Purchase of Property, Plant & Equipment	-9.74	-28	-38	-80	-133	-104	-127	-137
Acquisitions	0.00	-2.02	-0.14	-32	-17	-132	-205	0.00
Purchase of Investments	-143	-78	-803	-2,069	-4,740	-2,918	-4,154	-4,641
Sale and/or Maturity of Investments	40	69	344	618	2,030	2,835	3,133	3,658
Other Investing Activities, net	0.00	0.00	-1.57	1.66	0.00	0.30	170	13
Net Cash From Financing Activities	-4.00	18	616	2,050	34	-937	60	-1,028
Net Cash From Continuing Financing Activities	-4.00	18	616	2,050	34	-937	60	-1,028
Repurchase of Common Equity	-	-	-	0.00	0.00	-1,000	0.00	-1,094
Issuance of Common Equity	0.00	0.00	15	38	59	54	54	54
Other Financing Activities, net	0.73	3.57	58	33	-26	9.35	6.09	12
Effect of Exchange Rate Changes	-	-	-	0.00	0.00	-8.11	-10	-15
Cash Income Taxes Paid	0.13	0.21	1.07	3.18	39	309	348	395

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

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025
Net Change in Cash & Equivalents	-5.85	-58	350	106	67	331	-347	-266	79	-115	-38
Net Cash From Operating Activities	212	418	336	493	351	588	449	483	425	489	516
Net Cash From Continuing Operating Activities	212	418	336	493	351	588	449	483	425	489	516
Net Income / (Loss) Continuing Operations	-104	15	182	141	299	216	219	207	368	255	359
Consolidated Net Income / (Loss)	-104	15	182	141	299	216	219	207	368	255	359
Depreciation Expense	24	24	26	27	27	27	29	32	35	35	32
Amortization Expense	70	66	54	50	49	50	54	52	54	57	61
Non-Cash Adjustments To Reconcile Net Income	473	320	227	315	153	231	255	243	94	220	104
Changes in Operating Assets and Liabilities, net	-251	-7.74	-154	-40	-178	63	-107	-51	-126	-77	-40
Net Cash From Investing Activities	-258	-481	-19	-364	-319	-108	-541	-452	-4.89	-125	-61
Net Cash From Continuing Investing Activities	-258	-481	-19	-364	-319	-108	-541	-452	-4.89	-125	-61
Purchase of Property, Plant & Equipment	-28	-22	-47	-40	-19	-19	-84	-25	-8.33	-26	-7.97
Purchase of Investments	-926	-819	-1,058	-1,139	-1,138	-871	-1,324	-1,521	-925	-1,135	-1,120
Sale and/or Maturity of Investments	697	560	983	815	775	777	867	1,094	920	1,036	1,065
Other Investing Activities, net	-	0.00	107	-	63	4.65	-	0.20	8.53	0.00	2.51
Net Cash From Financing Activities	12	7.02	34	-5.51	24	-142	-256	-300	-329	-491	-495
Net Cash From Continuing Financing Activities	12	7.02	34	-5.51	24	-142	-256	-300	-329	-491	-495
Repurchase of Common Equity	-9.23	0.00	-	-	-	-150	-288	-302	-355	-418	-465
Other Financing Activities, net	1.87	7.02	1.93	-5.51	2.65	7.60	-2.88	1.23	5.85	-73	-66
Effect of Exchange Rate Changes	29	-2.55	-1.23	-17	11	-6.85	0.71	3.13	-12	12	1.42

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Total Assets	355	1,290	5,298	7,551	8,128	9,930	10,988
Total Current Assets	277	1,096	4,793	6,184	6,356	7,926	8,676
Cash & Equivalents	64	283	2,240	1,063	1,087	1,558	1,349
Short-Term Investments	113	572	2,004	4,356	4,326	5,404	6,442
Accounts Receivable	64	120	295	420	557	536	495
Prepaid Expenses	10	75	117	146	163	219	201
Other Current Assets	26	45	137	199	223	208	188
Plant, Property, & Equipment, net	37	57	150	222	253	294	330
Total Noncurrent Assets	41	137	355	1,145	1,519	1,710	1,982
Long-Term Investments	-	-	19	368	399	409	591
Goodwill	-	0.00	24	28	123	307	307
Noncurrent Deferred & Refundable Income Taxes	-	-	1.52	382	558	662	750
Other Noncurrent Operating Assets	41	137	311	367	439	331	333
Total Liabilities & Shareholders' Equity	355	1,290	5,298	7,551	8,128	9,930	10,988
Total Liabilities	202	456	1,437	1,771	1,921	1,910	2,053
Total Current Liabilities	152	334	1,260	1,580	1,739	1,762	1,903
Accounts Payable	4.96	1.60	8.66	7.84	14	10	8.35
Accrued Expenses	32	123	393	430	458	500	559
Current Deferred Revenue	115	210	858	1,141	1,267	1,252	1,336
Total Noncurrent Liabilities	50	122	177	192	183	148	150
Noncurrent Deferred Revenue	11	21	25	38	42	19	17
Other Noncurrent Operating Liabilities	39	101	152	153	141	130	133
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-7.44	834	3,861	5,780	6,207	8,019	8,935
Total Preferred & Common Equity	-7.44	834	3,861	5,780	6,207	8,019	8,935
Total Common Equity	-7.44	834	3,861	5,780	6,207	8,019	8,935
Common Stock	18	833	3,187	3,750	4,105	5,229	5,131
Retained Earnings	-25	0.15	672	2,048	2,152	2,789	3,800
Accumulated Other Comprehensive Income / (Loss)	-0.14	0.81	0.84	-18	-50	1.06	4.99

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

Metric	Q1 2023	Q2 2023	Q3 2023	Q1 2024	Q2 2024	Q3 2024	Q1 2025	Q2 2025	Q3 2025	Q1 2026	Q2 2026
Period end date	4/30/2022	7/31/2022	10/31/2022	4/30/2023	7/31/2023	10/31/2023	4/30/2024	7/31/2024	10/31/2024	4/30/2025	7/31/2025
Total Assets	7,957	8,048	7,837	8,536	8,923	9,317	10,297	10,507	10,680	10,952	11,044
Total Current Assets	6,564	6,414	6,142	6,568	7,051	7,485	8,282	8,395	8,532	8,667	8,663
Cash & Equivalents	1,407	937	1,096	1,030	1,380	1,493	1,886	1,539	1,274	1,229	1,199
Short-Term Investments	4,319	4,583	4,069	4,567	4,648	5,002	5,489	5,981	6,428	6,564	6,580
Accounts Receivable	484	510	590	591	571	514	528	528	458	477	517
Prepaid Expenses	143	159	166	171	244	271	182	149	182	221	190
Other Current Assets	212	225	222	210	207	205	198	198	190	176	177
Plant, Property, & Equipment, net	241	239	251	255	276	292	305	348	341	312	301
Total Noncurrent Assets	1,152	1,394	1,444	1,713	1,596	1,541	1,710	1,764	1,807	1,973	2,079
Long-Term Investments	343	358	355	452	377	353	425	439	445	576	648
Goodwill	28	123	123	304	307	307	307	307	307	307	307
Noncurrent Deferred & Refundable Income Taxes	420	494	551	533	541	532	674	718	731	769	805
Other Noncurrent Operating Assets	361	419	417	424	371	349	304	300	324	320	319
Total Liabilities & Shareholders' Equity	7,957	8,048	7,837	8,536	8,923	9,317	10,297	10,507	10,680	10,952	11,044
Total Liabilities	2,009	2,057	2,081	2,012	1,921	1,904	1,998	1,982	2,000	2,050	2,094
Total Current Liabilities	1,809	1,867	1,896	1,844	1,767	1,753	1,856	1,841	1,853	1,897	1,948
Accounts Payable	23	23	27	17	21	14	18	11	8.54	14	12
Accrued Expenses	500	498	561	490	397	441	502	439	481	474	471
Current Deferred Revenue	1,286	1,346	1,308	1,338	1,349	1,297	1,336	1,391	1,363	1,409	1,465
Total Noncurrent Liabilities	200	190	185	168	153	151	142	141	147	152	146
Noncurrent Deferred Revenue	45	56	46	29	20	19	16	15	16	16	14
Other Noncurrent Operating Liabilities	155	135	139	140	133	132	85	89	93	136	132
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	5,948	5,990	5,756	6,524	7,002	7,413	8,299	8,525	8,680	8,902	8,950
Total Preferred & Common Equity	5,948	5,990	5,756	6,524	7,002	7,413	8,299	8,525	8,680	8,902	8,950
Total Common Equity	5,948	5,990	5,756	6,524	7,002	7,413	8,299	8,525	8,680	8,902	8,950
Common Stock	3,831	3,831	3,573	4,392	4,690	4,950	5,311	5,298	5,241	4,833	4,538
Retained Earnings	2,162	2,208	2,256	2,167	2,349	2,490	3,006	3,225	3,432	4,054	4,413
Accumulated Other Comprehensive Income / (Loss)	-45	-48	-73	-35	-37	-27	-17	2.19	6.79	15	-0.48

This table displays calculated financial ratios and metrics derived from Zoom Communications' official financial filings.

Metric	2018	2019	2020	2021	2022	2023	2024	2025
Period end date	1/31/2018	1/31/2019	1/31/2020	1/31/2021	1/31/2022	1/31/2023	1/31/2024	1/31/2025
Growth Metrics	-	-	-	-	-	-	-	-
Revenue Growth	0.00%	118.19%	88.39%	325.81%	54.63%	7.15%	3.06%	3.05%
EBITDA Growth	0.00%	387.59%	94.76%	1,105.27%	64.62%	-55.24%	44.42%	34.92%
EBIT Growth	0.00%	227.60%	105.87%	5,097.29%	61.19%	-76.92%	114.02%	54.83%
NOPAT Growth	0.00%	265.59%	117.55%	5,268.72%	102.99%	-92.31%	293.99%	55.24%
Net Income Growth	0.00%	298.43%	233.66%	2,556.85%	104.61%	-92.46%	514.65%	58.48%
EPS Growth	0.00%	100.00%	0.00%	2,400.00%	100.00%	-92.44%	508.82%	55.07%
Operating Cash Flow Growth	0.00%	164.24%	195.90%	868.57%	9.11%	-19.62%	23.92%	21.67%
Free Cash Flow Firm Growth	0.00%	0.00%	-69.39%	11,218.61%	-9.95%	-132.16%	149.87%	381.64%
Invested Capital Growth	0.00%	0.00%	12.50%	-1,794.57%	98.25%	5,692.59%	64.00%	-14.79%
Revenue Q/Q Growth	0.00%	0.00%	15.26%	35.47%	4.83%	1.07%	0.64%	0.81%
EBITDA Q/Q Growth	0.00%	0.00%	12.23%	54.69%	1.39%	-37.82%	49.37%	6.38%
EBIT Q/Q Growth	0.00%	0.00%	66.29%	59.27%	-0.40%	-60.87%	131.54%	7.47%
NOPAT Q/Q Growth	0.00%	0.00%	82.43%	58.26%	33.29%	-90.04%	232.54%	6.81%
Net Income Q/Q Growth	0.00%	0.00%	61.56%	57.43%	20.08%	-85.15%	171.75%	7.33%
EPS Q/Q Growth	0.00%	0.00%	50.00%	56.25%	19.68%	-85.15%	176.00%	5.94%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	15.66%	32.74%	-10.58%	0.17%	9.57%	3.92%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	38.72%	-24.08%	-262.46%	171.66%	24.21%
Invested Capital Q/Q Growth	0.00%	0.00%	45.35%	-8.23%	98.83%	67.16%	14.44%	-3.30%
Profitability Metrics	-	-	-	-	-	-	-	-
Gross Margin	79.68%	81.54%	81.47%	69.00%	74.28%	74.95%	76.19%	75.79%
EBITDA Margin	4.61%	10.29%	10.64%	30.11%	32.06%	13.39%	18.77%	24.57%
Operating Margin	-3.19%	1.87%	2.04%	24.89%	25.94%	5.59%	11.60%	17.43%
EBIT Margin	-3.19%	1.87%	2.04%	24.89%	25.94%	5.59%	11.60%	17.43%
Profit (Net Income) Margin	-2.52%	2.29%	4.06%	25.36%	33.55%	2.36%	14.08%	21.65%
Tax Burden Percent	108.64%	90.84%	95.99%	99.16%	124.87%	41.60%	76.59%	76.79%
Interest Burden Percent	72.79%	135.38%	207.64%	102.76%	103.58%	101.57%	158.45%	161.76%
Effective Tax Rate	0.00%	9.16%	4.01%	0.84%	-24.87%	58.40%	23.41%	23.21%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	52.65%	77.17%	104.12%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	52.62%	73.60%	99.23%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	-50.92%	-68.21%	-92.21%
Return on Equity (ROE)	0.00%	4.99%	5.13%	28.64%	28.54%	1.73%	8.96%	11.92%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	-75.93%	28.69%	120.10%
Operating Return on Assets (OROA)	0.00%	1.74%	1.54%	20.03%	16.55%	3.13%	5.82%	7.78%
Return on Assets (ROA)	0.00%	2.14%	3.08%	20.41%	21.41%	1.32%	7.06%	9.66%
Return on Common Equity (ROCE)	0.00%	-0.24%	4.30%	28.64%	28.54%	1.73%	8.96%	11.92%
Return on Equity Simple (ROE_SIMPLE)	0.00%	-101.95%	3.03%	17.41%	23.80%	1.67%	7.95%	11.31%
Net Operating Profit after Tax (NOPAT)	-3.38	5.60	12	654	1,328	102	402	625
NOPAT Margin	-2.23%	1.69%	1.96%	24.68%	32.39%	2.32%	8.89%	13.39%
Net Nonoperating Expense Percent (NNEP)	0.00%	2.25%	2.54%	0.70%	0.95%	0.03%	3.57%	4.90%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-	-	1.65%	5.02%	6.99%
Cost of Revenue to Revenue	20.32%	18.46%	18.53%	31.00%	25.72%	25.05%	23.81%	24.21%
SG&A Expenses to Revenue	17.88%	13.47%	13.95%	12.09%	11.78%	13.12%	12.80%	9.49%
R&D to Revenue	10.39%	9.99%	10.77%	6.19%	8.85%	17.62%	17.74%	18.27%
Operating Expenses to Revenue	82.87%	79.68%	79.43%	44.11%	48.34%	69.36%	64.59%	58.35%
Earnings before Interest and Taxes (EBIT)	-4.83	6.17	13	660	1,064	245	525	813
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	6.98	34	66	798	1,314	588	850	1,146
Valuation Ratios	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	25.29	27.56	7.95	3.53	2.45	2.98
Price to Tangible Book Value (P/TBV)	0.00	0.00	25.29	27.74	7.99	3.60	2.55	3.09
Price to Revenue (P/Rev)	4.96	2.27	33.87	40.14	11.21	4.99	4.34	5.71
Price to Earnings (P/E)	0.00	0.00	969.63	158.47	33.43	211.41	30.85	26.38
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.10%	0.63%	2.99%	0.47%	3.24%	3.79%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	0.00	0.00	0.00	40.80	18.99	33.09
Enterprise Value to Revenue (EV/Rev)	0.00	2.22	32.50	38.53	9.80	3.67	2.72	3.91
Enterprise Value to EBITDA (EV/EBITDA)	0.00	21.59	305.44	127.94	30.58	27.39	14.47	15.93
Enterprise Value to EBIT (EV/EBIT)	0.00	119.09	1,593.75	154.81	37.78	65.65	23.41	22.46
Enterprise Value to NOPAT (EV/NOPAT)	0.00	131.11	1,660.32	156.13	30.26	157.79	30.57	29.24
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	14.31	133.21	69.44	25.03	12.49	7.69	9.39
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	24.57	2,211.41	98.64	43.09	0.00	82.22	25.35
Leverage & Solvency	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	0.00	-1.16	-1.05	-1.09	-1.04	-0.97	-0.93	-0.93
Leverage Ratio	0.00	2.33	1.67	1.40	1.33	1.31	1.27	1.23
Compound Leverage Factor	0.00	3.16	3.46	1.44	1.38	1.33	2.01	2.00
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	104.89%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-4.89%	100.00%	100.00%	100.00%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Altman Z-Score	0.00	3.54	28.98	46.31	17.69	8.54	7.95	9.68
Noncontrolling Interest Sharing Ratio	0.00%	104.89%	16.18%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-
Current Ratio	0.00	1.82	3.28	3.80	3.91	3.66	4.50	4.56
Quick Ratio	0.00	1.58	2.92	3.60	3.70	3.43	4.26	4.35
Cash Flow Metrics	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	30	9.15	1,036	933	-300	150	720
Operating Cash Flow to CapEx	199.49%	180.54%	398.83%	1,839.62%	1,210.70%	1,242.72%	1,259.39%	1,424.51%
Free Cash Flow to Firm to Interest Expense	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
Operating Cash Flow Less CapEx to Interest Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-
Asset Turnover	0.00	0.93	0.76	0.80	0.64	0.56	0.50	0.45
Accounts Receivable Turnover	0.00	5.20	6.77	12.77	11.48	8.99	8.28	9.05
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	8.87	13.19	25.61	22.03	18.49	16.57	14.95
Accounts Payable Turnover	0.00	12.29	35.19	160.23	127.79	98.89	87.67	121.99
Days Sales Outstanding (DSO)	0.00	70.25	53.94	28.57	31.80	40.59	44.08	40.34
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	29.70	10.37	2.28	2.86	3.69	4.16	2.99
Cash Conversion Cycle (CCC)	0.00	40.55	43.57	26.30	28.94	36.90	39.92	37.35
Capital & Investment Metrics	-	-	-	-	-	-	-	-
Invested Capital	0.00	-24	-21	-403	-7.06	395	648	552
Invested Capital Turnover	0.00	-27.22	-27.35	-12.51	-20.02	22.65	8.68	7.78
Increase / (Decrease) in Invested Capital	0.00	-24	3.04	-381	396	402	253	-96
Enterprise Value (EV)	0.00	734	20,234	102,151	40,188	16,113	12,297	18,263
Market Capitalization	751	751	21,089	106,415	45,975	21,924	19,669	26,647
Book Value per Share	$0.00	($0.09)	$3.02	$13.50	$19.40	$21.23	$26.34	$29.15
Tangible Book Value per Share	$0.00	($0.09)	$3.02	$13.41	$19.30	$20.81	$25.33	$28.15
Total Capital	0.00	152	834	3,861	5,780	6,207	8,019	8,935
Total Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Net Debt	0.00	-176	-855	-4,263	-5,787	-5,812	-7,372	-8,383
Capital Expenditures (CapEx)	9.74	28	38	80	133	104	127	137
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-52	-94	-712	-815	-795	-798	-1,019
Debt-free Net Working Capital (DFNWC)	0.00	124	762	3,533	4,604	4,618	6,164	6,773
Net Working Capital (NWC)	0.00	124	762	3,533	4,604	4,618	6,164	6,773
Net Nonoperating Expense (NNE)	0.44	-1.98	-13	-18	-48	-1.60	-235	-386
Net Nonoperating Obligations (NNO)	0.00	-176	-855	-4,263	-5,787	-5,812	-7,372	-8,383
Total Depreciation and Amortization (D&A)	12	28	54	139	251	343	324	333
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-15.74%	-15.02%	-26.85%	-19.88%	-18.09%	-17.64%	-21.84%
Debt-free Net Working Capital to Revenue	0.00%	37.63%	122.33%	133.25%	112.30%	105.12%	136.15%	145.17%
Net Working Capital to Revenue	0.00%	37.63%	122.33%	133.25%	112.30%	105.12%	136.15%	145.17%
Earnings Adjustments	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.11)	$0.00	$0.09	$2.37	$4.64	$0.35	$2.12	$3.28
Adjusted Weighted Average Basic Shares Outstanding	78.12M	84.48M	233.64M	283.85M	296.33M	296.56M	300.75M	307.98M
Adjusted Diluted Earnings per Share	($0.11)	$0.00	$0.09	$2.25	$4.50	$0.34	$2.07	$3.21
Adjusted Weighted Average Diluted Shares Outstanding	78.12M	116.01M	254.30M	298.13M	305.83M	304.23M	308.52M	315.07M
Adjusted Basic & Diluted Earnings per Share	($0.11)	$0.00	$0.09	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	279.00M	293.71M	299.12M	293.84M	307.56M	305.23M
Normalized Net Operating Profit after Tax (NOPAT)	-3.38	5.60	12	654	745	172	402	625
Normalized NOPAT Margin	-2.23%	1.69%	1.96%	24.68%	18.16%	3.91%	8.89%	13.39%
Pre Tax Income Margin	-2.32%	2.53%	4.23%	25.57%	26.87%	5.67%	18.38%	28.20%
Debt Service Ratios	-	-	-	-	-	-	-	-
EBIT to Interest Expense	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
EBIT Less CapEx to Interest Expense	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
Payout Ratios	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	964.22%	0.00%	108.28%

This table displays calculated financial ratios and metrics derived from Zoom Communications' official financial filings.

Metric	Q4 2023	Q1 2024	Q2 2024	Q3 2024	Q4 2024	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Period end date	1/31/2023	4/30/2023	7/31/2023	10/31/2023	1/31/2024	4/30/2024	7/31/2024	10/31/2024	1/31/2025	4/30/2025	7/31/2025
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	4.33%	2.94%	3.57%	3.16%	2.56%	3.25%	2.09%	3.59%	3.29%	2.93%	4.71%
EBITDA Growth	-111.08%	-61.83%	24.91%	59.14%	786.74%	179.36%	10.45%	8.61%	28.03%	19.09%	45.67%
EBIT Growth	-151.58%	-94.79%	45.90%	154.69%	229.75%	1,983.99%	13.94%	7.94%	33.54%	19.00%	58.98%
NOPAT Growth	-110.19%	-97.65%	109.53%	119.14%	256.97%	4,221.79%	17.22%	4.88%	28.82%	29.51%	70.12%
Net Income Growth	-121.21%	-86.41%	297.76%	192.04%	387.20%	1,300.60%	20.36%	46.62%	23.10%	17.70%	63.73%
EPS Growth	-121.12%	-86.49%	293.33%	181.25%	388.24%	1,280.00%	18.64%	46.67%	18.37%	17.39%	65.71%
Operating Cash Flow Growth	1.05%	-20.46%	30.62%	66.99%	65.99%	40.55%	33.74%	-2.01%	20.88%	-16.82%	14.82%
Free Cash Flow Firm Growth	-199.32%	-161.11%	44.00%	74.29%	77.68%	114.49%	140.93%	164.80%	354.16%	133.95%	131.00%
Invested Capital Growth	5,692.59%	491.15%	433.17%	139.54%	64.00%	13.54%	0.94%	0.84%	-14.79%	-1.19%	-13.14%
Revenue Q/Q Growth	1.44%	-1.11%	3.01%	-0.17%	0.86%	-0.46%	1.87%	1.29%	0.56%	-0.80%	3.62%
EBITDA Q/Q Growth	-123.07%	380.94%	157.28%	-4.56%	-0.45%	14.28%	1.72%	-6.15%	17.36%	6.30%	24.43%
EBIT Q/Q Growth	-295.30%	107.50%	1,723.22%	-4.63%	-0.51%	20.47%	-0.32%	-9.65%	23.09%	7.34%	33.17%
NOPAT Q/Q Growth	-254.79%	103.83%	3,609.25%	-0.29%	10.87%	5.39%	0.61%	-10.79%	36.18%	5.95%	32.15%
Net Income Q/Q Growth	-315.19%	114.84%	1,078.28%	-22.40%	111.62%	-27.62%	1.25%	-5.46%	77.67%	-30.79%	40.84%
EPS Q/Q Growth	-312.50%	114.71%	1,080.00%	-23.73%	117.78%	-29.59%	1.45%	-5.71%	75.76%	-30.17%	43.21%
Operating Cash Flow Q/Q Growth	-28.35%	97.78%	-19.72%	46.78%	-28.78%	67.47%	-23.61%	7.54%	-12.14%	15.24%	5.45%
Free Cash Flow Firm Q/Q Growth	36.93%	-20.41%	40.01%	43.56%	45.25%	154.32%	69.42%	-10.64%	114.74%	-28.04%	67.29%
Invested Capital Q/Q Growth	67.16%	20.38%	25.60%	-5.22%	14.44%	-22.44%	11.65%	-5.31%	-3.30%	-3.35%	-1.85%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	73.67%	76.12%	76.59%	76.16%	75.90%	76.05%	75.48%	75.89%	75.73%	76.30%	77.56%
EBITDA Margin	-3.19%	9.07%	22.66%	21.66%	21.38%	24.55%	24.51%	22.71%	26.50%	28.40%	34.10%
Operating Margin	-11.62%	0.88%	15.60%	14.90%	14.70%	17.79%	17.41%	15.53%	19.01%	20.57%	26.43%
EBIT Margin	-11.62%	0.88%	15.60%	14.90%	14.70%	17.79%	17.41%	15.53%	19.01%	20.57%	26.43%
Profit (Net Income) Margin	-9.31%	1.40%	15.98%	12.42%	26.07%	18.95%	18.84%	17.58%	31.07%	21.67%	29.46%
Tax Burden Percent	263.12%	35.73%	72.68%	75.99%	84.68%	74.09%	74.78%	73.84%	81.69%	80.63%	80.01%
Interest Burden Percent	30.44%	443.75%	140.96%	109.70%	209.39%	143.81%	144.73%	153.36%	200.09%	130.70%	139.30%
Effective Tax Rate	0.00%	64.27%	27.32%	24.01%	15.32%	25.91%	25.22%	26.16%	18.31%	19.37%	19.99%
Return on Invested Capital (ROIC)	-184.24%	7.87%	142.73%	127.00%	108.10%	118.47%	99.52%	93.35%	120.77%	145.20%	178.53%
ROIC Less NNEP Spread (ROIC-NNEP)	-184.01%	7.68%	141.87%	126.80%	105.74%	117.52%	98.58%	92.39%	118.43%	144.46%	177.29%
Return on Net Nonoperating Assets (RNNOA)	178.06%	-7.46%	-134.12%	-119.07%	-97.99%	-109.47%	-90.96%	-85.86%	-110.05%	-135.45%	-165.87%
Return on Equity (ROE)	-6.18%	0.42%	8.60%	7.93%	10.12%	9.00%	8.56%	7.49%	10.72%	9.76%	12.66%
Cash Return on Invested Capital (CROIC)	-75.93%	-125.04%	-120.78%	-52.03%	28.69%	97.08%	95.60%	102.04%	120.10%	125.47%	151.16%
Operating Return on Assets (OROA)	-6.51%	0.47%	8.21%	7.82%	7.37%	8.62%	8.22%	7.19%	8.48%	9.10%	11.66%
Return on Assets (ROA)	-5.22%	0.75%	8.41%	6.52%	13.07%	9.18%	8.90%	8.14%	13.86%	9.59%	13.00%
Return on Common Equity (ROCE)	-6.18%	0.42%	8.60%	7.93%	10.12%	9.00%	8.56%	7.49%	10.72%	9.76%	12.66%
Return on Equity Simple (ROE_SIMPLE)	0.00%	0.08%	2.02%	3.16%	0.00%	10.10%	10.27%	10.84%	0.00%	11.78%	0.00%
Net Operating Profit after Tax (NOPAT)	-91	3.48	129	129	143	150	151	135	184	195	257
NOPAT Margin	-8.13%	0.31%	11.34%	11.32%	12.45%	13.18%	13.02%	11.47%	15.53%	16.58%	21.15%
Net Nonoperating Expense Percent (NNEP)	-0.23%	0.20%	0.86%	0.20%	2.37%	0.95%	0.94%	0.96%	2.34%	0.74%	1.24%
Return On Investment Capital (ROIC_SIMPLE)	-1.46%	-	-	-	1.78%	-	-	-	2.06%	2.19%	2.88%
Cost of Revenue to Revenue	26.33%	23.88%	23.41%	23.84%	24.10%	23.95%	24.52%	24.11%	24.27%	23.70%	22.44%
SG&A Expenses to Revenue	16.68%	18.08%	11.36%	11.01%	10.93%	9.76%	9.42%	10.71%	8.08%	8.71%	6.32%
R&D to Revenue	23.37%	18.93%	16.84%	17.32%	17.91%	18.01%	17.79%	18.94%	18.34%	17.49%	16.96%
Operating Expenses to Revenue	85.29%	75.24%	60.99%	61.26%	61.20%	58.26%	58.07%	60.36%	56.73%	55.73%	51.13%
Earnings before Interest and Taxes (EBIT)	-130	9.74	178	169	169	203	202	183	225	242	322
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-36	100	258	246	245	280	285	267	314	334	415
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	3.53	2.77	3.12	2.44	2.45	2.26	2.19	2.65	2.98	2.66	2.50
Price to Tangible Book Value (P/TBV)	3.60	2.90	3.26	2.54	2.55	2.35	2.27	2.75	3.09	2.75	2.59
Price to Revenue (P/Rev)	4.99	4.08	4.89	4.01	4.34	4.12	4.07	4.97	5.71	5.04	4.71
Price to Earnings (P/E)	211.41	3,277.12	153.98	76.95	30.85	22.42	21.34	24.44	26.38	22.57	18.86
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	0.47%	0.03%	0.65%	1.30%	3.24%	4.46%	4.69%	4.09%	3.79%	4.43%	5.30%
Enterprise Value to Invested Capital (EV/IC)	40.80	25.24	25.82	19.80	18.99	20.44	17.85	26.10	33.09	28.68	26.70
Enterprise Value to Revenue (EV/Rev)	3.67	2.71	3.45	2.49	2.72	2.42	2.35	3.22	3.91	3.26	2.94
Enterprise Value to EBITDA (EV/EBITDA)	27.39	28.18	32.30	19.70	14.47	10.72	10.18	13.82	15.93	12.75	10.51
Enterprise Value to EBIT (EV/EBIT)	65.65	176.22	124.37	49.39	23.41	15.35	14.47	19.68	22.46	17.96	14.39
Enterprise Value to NOPAT (EV/NOPAT)	157.79	4,771.27	271.00	92.61	30.57	19.80	18.58	25.47	29.24	22.94	18.10
Enterprise Value to Operating Cash Flow (EV/OCF)	12.49	10.15	12.22	7.68	7.69	6.24	5.72	7.96	9.39	8.29	7.31
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	82.22	22.39	18.76	25.68	25.35	22.72	16.42
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Financial Leverage	-0.97	-0.97	-0.95	-0.94	-0.93	-0.93	-0.92	-0.93	-0.93	-0.94	-0.94
Leverage Ratio	1.31	1.32	1.31	1.30	1.27	1.27	1.25	1.24	1.23	1.24	1.23
Compound Leverage Factor	0.40	5.87	1.84	1.43	2.66	1.83	1.81	1.91	2.47	1.61	1.72
Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.48%	0.42%	0.43%	0.00%	0.00%	0.00%
Short-Term Debt 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%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.48%	0.42%	0.43%	0.00%	0.00%	0.00%
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	100.00%	100.00%	100.00%	100.00%	100.00%	99.52%	99.58%	99.57%	100.00%	100.00%	100.00%
Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.04	0.03	0.03	0.00	0.00	0.00
Net Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	-7.54	-7.50	-7.52	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	0.00	0.00	0.00	0.00	0.04	0.03	0.03	0.00	0.00	0.00
Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.07	0.06	0.06	0.00	0.00	0.00
Net Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	-13.92	-13.68	-13.87	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	0.00	0.00	0.00	0.00	0.07	0.06	0.06	0.00	0.00	0.00
Altman Z-Score	8.39	6.92	8.46	7.34	7.83	7.31	7.33	8.59	9.50	8.69	8.24
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	3.66	3.56	3.99	4.27	4.50	4.46	4.56	4.60	4.56	4.57	4.45
Quick Ratio	3.43	3.36	3.73	4.00	4.26	4.26	4.37	4.40	4.35	4.36	4.26
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-493	-594	-356	-201	-110	86	146	130	280	201	337
Operating Cash Flow to CapEx	748.77%	1,917.38%	720.97%	1,233.28%	1,894.42%	3,178.04%	533.44%	1,896.16%	5,094.38%	1,888.31%	6,476.78%
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	0.56	0.54	0.53	0.52	0.50	0.48	0.47	0.46	0.45	0.44	0.44
Accounts Receivable Turnover	8.99	8.23	8.26	8.15	8.28	8.16	8.35	9.52	9.05	9.35	9.10
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	18.49	17.85	17.34	16.58	16.57	16.30	14.71	14.63	14.95	15.23	14.65
Accounts Payable Turnover	98.89	56.50	49.97	52.59	87.67	62.42	70.28	97.38	121.99	69.79	101.02
Days Sales Outstanding (DSO)	40.59	44.32	44.18	44.77	44.08	44.72	43.74	38.33	40.34	39.02	40.12
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)	3.69	6.46	7.30	6.94	4.16	5.85	5.19	3.75	2.99	5.23	3.61
Cash Conversion Cycle (CCC)	36.90	37.86	36.88	37.83	39.92	38.87	38.54	34.59	37.35	33.79	36.51
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	395	475	597	566	648	540	603	571	552	533	524
Invested Capital Turnover	22.65	25.00	12.59	11.22	8.68	8.99	7.65	8.14	7.78	8.76	8.44
Increase / (Decrease) in Invested Capital	402	597	485	330	253	64	5.59	4.77	-96	-6.44	-79
Enterprise Value (EV)	16,113	12,002	15,420	11,204	12,297	11,033	10,758	14,895	18,263	15,299	13,977
Market Capitalization	21,924	18,050	21,825	18,051	19,669	18,792	18,680	23,004	26,647	23,668	22,404
Book Value per Share	$21.23	$22.20	$23.53	$24.63	$26.34	$26.98	$27.57	$28.20	$29.15	$29.17	$29.58
Tangible Book Value per Share	$20.81	$21.17	$22.50	$23.61	$25.33	$25.98	$26.57	$27.20	$28.15	$28.16	$28.57
Total Capital	6,207	6,524	7,002	7,413	8,019	8,339	8,561	8,717	8,935	8,902	8,950
Total Debt	0.00	0.00	0.00	0.00	0.00	40	36	38	0.00	0.00	0.00
Total Long-Term Debt	0.00	0.00	0.00	0.00	0.00	40	36	38	0.00	0.00	0.00
Net Debt	-5,812	-6,049	-6,405	-6,847	-7,372	-7,759	-7,923	-8,109	-8,383	-8,369	-8,427
Capital Expenditures (CapEx)	28	22	47	40	19	19	84	25	8.33	26	7.97
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-795	-873	-745	-763	-798	-948	-966	-1,023	-1,019	-1,023	-1,063
Debt-free Net Working Capital (DFNWC)	4,618	4,724	5,284	5,732	6,164	6,426	6,554	6,679	6,773	6,769	6,716
Net Working Capital (NWC)	4,618	4,724	5,284	5,732	6,164	6,426	6,554	6,679	6,773	6,769	6,716
Net Nonoperating Expense (NNE)	13	-12	-53	-12	-156	-66	-68	-72	-184	-60	-101
Net Nonoperating Obligations (NNO)	-5,812	-6,049	-6,405	-6,847	-7,372	-7,759	-7,923	-8,109	-8,383	-8,369	-8,427
Total Depreciation and Amortization (D&A)	94	91	80	77	77	77	83	85	89	92	93
Debt-free, Cash-free Net Working Capital to Revenue	-18.09%	-19.72%	-16.69%	-16.95%	-17.64%	-20.78%	-21.06%	-22.11%	-21.84%	-21.78%	-22.36%
Debt-free Net Working Capital to Revenue	105.12%	106.76%	118.37%	127.41%	136.15%	140.83%	142.88%	144.32%	145.17%	144.06%	141.27%
Net Working Capital to Revenue	105.12%	106.76%	118.37%	127.41%	136.15%	140.83%	142.88%	144.32%	145.17%	144.06%	141.27%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.34)	$0.05	$0.61	$0.47	$0.99	$0.70	$0.71	$0.67	$1.20	$0.84	$1.19
Adjusted Weighted Average Basic Shares Outstanding	296.56M	295.41M	299.09M	302.49M	300.75M	308.70M	309.14M	307.53M	307.98M	304.91M	301.78M
Adjusted Diluted Earnings per Share	($0.34)	$0.05	$0.59	$0.45	$0.98	$0.69	$0.70	$0.66	$1.16	$0.81	$1.16
Adjusted Weighted Average Diluted Shares Outstanding	304.23M	304.12M	305.93M	310.39M	308.52M	315.36M	314.03M	314.19M	315.07M	312.78M	308.22M
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	293.84M	297.54M	300.96M	304.42M	307.56M	309.28M	307.79M	306.49M	305.23M	302.55M	299.29M
Normalized Net Operating Profit after Tax (NOPAT)	-91	6.82	129	129	143	150	151	135	184	195	257
Normalized NOPAT Margin	-8.13%	0.62%	11.34%	11.32%	12.45%	13.18%	13.02%	11.47%	15.53%	16.58%	21.15%
Pre Tax Income Margin	-3.54%	3.91%	21.99%	16.35%	30.78%	25.58%	25.19%	23.81%	38.03%	26.88%	36.82%
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	964.22%	15,782.99%	405.06%	3.93%	0.00%	17.90%	50.00%	78.55%	108.28%	129.88%	129.57%

Key Financial Trends

Positive Trends:

Zoom Communications showed consistent revenue growth, with operating revenue increasing from approximately $1.07 billion in Q1 2023 to about $1.22 billion by Q2 2026.
Net income recovered strongly after a loss in Q4 2023, rising to $358.6 million in Q2 2026, indicating improved profitability.
Gross profit margins remain solid, with gross profit around $944 million in the latest quarter, showing effective cost management.
Operating cash flow increased over time, reaching $515.9 million in Q2 2026, reflecting healthy cash generation from core operations.
Strong balance sheet with total equity growing to $8.95 billion in Q2 2026 from $5.11 billion in Q1 2023, underpinning financial stability.
Low levels of liabilities relative to equity, with total liabilities roughly $2 billion against nearly $9 billion in equity, signaling sound leverage management.
The company actively managed its treasury with significant investment purchases and sales, maintaining liquidity with over $7.3 billion in cash and short-term investments combined as of Q2 2026.
Diluted EPS grew steadily from $0.37 in Q1 2023 to $1.16 in Q2 2026, indicating improved shareholder value per share.
Share repurchases remained consistent, with large buybacks (e.g., $465 million in Q2 2026), reducing share count and potentially supporting stock price.
Depreciation and amortization expenses are indicative of ongoing investments in technology and infrastructure, aligning with growth strategy.

Neutral Observations:

Sales, General & Administrative (SG&A) and marketing expenses remain high and sizable portions of revenue, reflecting ongoing investment in growth and customer acquisition.
Research & Development expenses fluctuate but remain significant, showing continuous focus on product innovation.
The company experiences regular changes in operating assets and liabilities affecting operating cash flow, common for expanding tech firms.
Fluctuations in exchange rate effects on cash flows have minimal net impact on financial results.
Capital expenditures vary by quarter but reflect steady investments in property, plant, and equipment.

Negative Trends:

Operating costs of revenue remain substantial, around $270 to $290 million per quarter, somewhat pressuring gross margin improvement.
Marketing expenses increased to a notable $338 million in Q2 2026 from about $293 million in mid-2022, indicating rising customer acquisition costs.
Despite improved net income, total operating expenses remain elevated, limiting operating income growth.
In Q4 2023, Zoom reported a net loss of $104 million, indicating a period of operational challenges or strategic repositioning.
Large and increasing investment purchase amounts lead to significant cash outflows in investing activities, which may impact liquidity if not managed well.
Significant share repurchases contribute to high financing cash outflows, potentially reducing cash reserves.
The accumulated other comprehensive income/loss has fluctuated negatively, affecting total equity by tens of millions of dollars.
Some quarters show negative total operating income (e.g., Q4 2023), highlighting earnings volatility.

09/16/25 06:55 PM ETAI Generated. May Contain Errors.

Financials Breakdown Chart

Frequently Asked Questions About Zoom Communications' Financials

When does Zoom Communications' financial year end?

According to the most recent income statement we have on file, Zoom Communications' fiscal year ends in January. Their fiscal year 2025 ended on January 31, 2025.

How has Zoom Communications' net income changed over the last 7 years?

Zoom Communications' net income appears to be on an upward trend, with a most recent value of $1.01 billion in 2025, falling from -$3.82 million in 2018. The previous period was $637.46 million in 2024. View Zoom Communications' forecast to see where analysts expect Zoom Communications to go next.

What is Zoom Communications' operating income?

Zoom Communications' total operating income in 2025 was $813.30 million, based on the following breakdown:

Total Gross Profit: $3.54 billion
Total Operating Expenses: $2.72 billion

How has Zoom Communications' revenue changed over the last 7 years?

Over the last 7 years, Zoom Communications' total revenue changed from $151.48 million in 2018 to $4.67 billion in 2025, a change of 2,979.9%.

How much debt does Zoom Communications have?

Zoom Communications' total liabilities were at $2.05 billion at the end of 2025, a 7.5% increase from 2024, and a 914.2% increase since 2019.

How much cash does Zoom Communications have?

In the past 6 years, Zoom Communications' cash and equivalents has ranged from $63.62 million in 2019 to $2.24 billion in 2021, and is currently $1.35 billion as of their latest financial filing in 2025.

How has Zoom Communications' book value per share changed over the last 7 years?

Over the last 7 years, Zoom Communications' book value per share changed from 0.00 in 2018 to 29.15 in 2025, a change of 2,915.3%.

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This page (NASDAQ:ZM) was last updated on 9/16/2025 by MarketBeat.com Staff

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Zoom Communications (ZM) Financials

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Zoom Communications (ZM) Financials

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