Zeta Global (ZETA) Financials

$17.94 -0.40 (-2.19%)

As of 03:24 PM Eastern

Annual Income Statements for Zeta Global

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	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	-56	-73	-257	-279	-187	-70	-32
Consolidated Net Income / (Loss)	-38	-53	-250	-279	-187	-70	-32
Net Income / (Loss) Continuing Operations	-38	-53	-250	-279	-187	-70	-32
Total Pre-Tax Income	-37	-52	-250	-281	-186	-75	-33
Total Operating Income	-18	-8.08	-248	-259	-168	-68	5.37
Total Gross Profit	196	219	284	375	454	606	791
Total Revenue	306	368	458	591	729	1,006	1,305
Operating Revenue	306	368	458	591	729	1,006	1,305
Total Cost of Revenue	110	149	175	215	274	400	514
Operating Cost of Revenue	110	149	175	215	274	400	514
Total Operating Expenses	213	227	532	635	622	674	786
Selling, General & Admin Expense	73	71	190	214	205	205	233
Marketing Expense	70	77	229	299	288	315	340
Research & Development Expense	29	32	64	69	74	91	117
Depreciation Expense	34	40	46	52	51	56	72
Restructuring Charge	7.30	7.49	2.68	0.34	3.05	8.23	23
Total Other Income / (Expense), net	-20	-44	-2.03	-22	-19	-7.15	-38
Interest Expense	15	16	-2.97	7.30	11	7.15	0.37
Other Income / (Expense), net	-4.44	-28	-5.00	-14	-7.82	0.00	-38
Income Tax Expense	1.01	0.92	-0.60	-1.49	1.04	-5.18	-1.58
Basic Earnings per Share	($1.77)	($2.23)	($2.95)	($2.01)	($1.20)	($0.38)	($0.14)
Weighted Average Basic Shares Outstanding	31.58M	32.59M	86.93M	138.99M	156.70M	185.98M	220.72M
Diluted Earnings per Share	($1.77)	($2.23)	($2.95)	($2.01)	($1.20)	($0.38)	($0.14)
Weighted Average Diluted Shares Outstanding	31.58M	32.59M	86.93M	138.99M	156.70M	185.98M	220.72M
Weighted Average Basic & Diluted Shares Outstanding	-	-	199.20M	207.42M	218.42M	475.44M	488.25M

This table shows Zeta Global's 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	-43	-35	-40	-28	-17	15	-22	-13	-3.63	6.54	-13
Consolidated Net Income / (Loss)	-43	-35	-40	-28	-17	15	-22	-13	-3.63	6.54	-13
Net Income / (Loss) Continuing Operations	-43	-35	-40	-28	-17	15	-22	-13	-3.63	6.54	-13
Total Pre-Tax Income	-42	-35	-39	-28	-17	8.98	-20	-12	-2.79	1.29	-16
Total Operating Income	-37	-32	-36	-27	-12	6.92	-16	-5.11	8.75	18	-19
Total Gross Profit	116	126	118	137	163	189	161	191	204	235	234
Total Revenue	189	210	195	228	268	315	264	308	337	395	396
Operating Revenue	189	210	195	228	268	315	264	308	337	395	396
Total Cost of Revenue	73	85	77	91	106	126	103	117	133	160	162
Operating Cost of Revenue	73	85	77	91	106	126	103	117	133	160	162
Total Operating Expenses	153	158	154	163	175	182	177	197	195	217	253
Selling, General & Admin Expense	51	51	49	51	50	54	54	62	56	60	73
Marketing Expense	71	73	71	76	85	83	75	86	85	93	102
Research & Development Expense	18	20	20	24	23	24	27	31	30	30	45
Depreciation Expense	13	13	14	13	13	17	18	17	17	20	24
Restructuring Charge	0.00	-	0.00	0.00	4.58	3.65	3.15	0.00	6.48	14	8.42
Total Other Income / (Expense), net	-5.33	-3.48	-3.30	-1.00	-4.80	1.94	-3.84	-6.52	-12	-17	3.02
Interest Expense	2.89	2.80	2.63	2.56	1.95	0.02	0.33	0.17	-0.18	0.05	0.76
Other Income / (Expense), net	-2.44	-0.68	-0.67	1.56	-2.85	1.96	-3.51	-6.35	-12	-16	3.78
Income Tax Expense	0.59	-0.06	0.40	0.49	0.20	-6.26	1.64	1.19	0.84	-5.25	-2.58
Basic Earnings per Share	($0.27)	($0.21)	($0.23)	($0.16)	($0.09)	$0.10	($0.10)	($0.06)	($0.02)	$0.04	($0.06)
Weighted Average Basic Shares Outstanding	158.06M	156.70M	171.23M	177.87M	187.91M	185.98M	212.56M	217.25M	222.44M	220.72M	238.55M
Diluted Earnings per Share	($0.27)	($0.21)	($0.23)	($0.16)	($0.09)	$0.10	($0.10)	($0.06)	($0.02)	$0.04	($0.06)
Weighted Average Diluted Shares Outstanding	158.06M	156.70M	171.23M	177.87M	187.91M	185.98M	212.56M	217.25M	222.44M	220.72M	238.55M
Weighted Average Basic & Diluted Shares Outstanding	214.28M	218.42M	218.79M	219.95M	237.45M	475.44M	471.09M	-	481.17M	488.25M	498.52M

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

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	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	-3.11	13	53	17	11	234	-46
Net Cash From Operating Activities	31	36	44	78	91	134	199
Net Cash From Continuing Operating Activities	31	36	44	78	91	134	199
Net Income / (Loss) Continuing Operations	-38	-53	-250	-279	-187	-70	-32
Consolidated Net Income / (Loss)	-38	-53	-250	-279	-187	-70	-32
Depreciation Expense	34	40	46	52	51	56	72
Non-Cash Adjustments To Reconcile Net Income	6.80	32	254	312	252	194	211
Changes in Operating Assets and Liabilities, net	28	16	-6.27	-5.95	-25	-46	-53
Net Cash From Investing Activities	-62	-25	-47	-48	-54	-98	-124
Net Cash From Continuing Investing Activities	-62	-25	-47	-48	-54	-98	-124
Purchase of Property, Plant & Equipment	-23	-25	-27	-39	-36	-42	-34
Acquisitions	-39	0.00	-20	-9.21	-18	-56	-90
Net Cash From Financing Activities	28	2.78	56	-13	-26	198	-121
Net Cash From Continuing Financing Activities	28	2.78	56	-13	-26	198	-121
Repayment of Debt	-1.70	-6.50	-181	-5.63	-11	-198	-6.25
Repurchase of Common Equity	-	0.00	-64	-9.61	-13	-42	-121
Payment of Dividends	-1.77	-0.72	-9.85	-5.96	-16	-7.03	-6.33
Issuance of Debt	32	0.00	183	5.63	11	209	6.25
Issuance of Common Equity	0.00	0.00	127	2.74	3.06	232	4.25
Other Financing Activities, net	0.00	10	0.14	0.20	0.24	3.18	2.24
Effect of Exchange Rate Changes	-0.08	-0.21	-0.04	-0.17	-0.03	0.23	-0.27
Cash Interest Paid	12	13	7.00	5.67	10	7.35	0.91
Cash Income Taxes Paid	0.78	1.30	1.76	1.61	1.90	1.89	3.06

This table details how cash moves in and out of Zeta Global's 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	3.73	11	9.92	13	264	-52	-1.76	0.92	20	-65	-31
Net Cash From Operating Activities	23	27	25	31	34	44	35	42	58	64	50
Net Cash From Continuing Operating Activities	23	27	25	31	34	44	35	42	58	64	50
Net Income / (Loss) Continuing Operations	-43	-35	-40	-28	-17	15	-22	-13	-3.63	6.54	-13
Consolidated Net Income / (Loss)	-43	-35	-40	-28	-17	15	-22	-13	-3.63	6.54	-13
Depreciation Expense	13	13	14	13	13	17	18	17	17	20	24
Non-Cash Adjustments To Reconcile Net Income	60	64	53	51	49	41	45	55	59	52	48
Changes in Operating Assets and Liabilities, net	-7.63	-16	-2.61	-4.67	-10	-29	-6.22	-18	-14	-14	-8.68
Net Cash From Investing Activities	-9.37	-8.74	-9.45	-11	-8.79	-68	-7.42	-8.82	-11	-97	-56
Net Cash From Continuing Investing Activities	-9.37	-8.74	-9.45	-11	-8.79	-68	-7.42	-8.82	-11	-97	-56
Purchase of Property, Plant & Equipment	-9.37	-8.74	-9.45	-11	-8.79	-12	-6.89	-8.15	-11	-8.24	-8.55
Acquisitions	-	0.00	0.00	-	-	-56	-0.53	-0.67	-	-89	-47
Net Cash From Financing Activities	-9.63	-7.25	-5.18	-6.77	238	-28	-29	-32	-27	-32	-26
Net Cash From Continuing Financing Activities	-9.63	-7.25	-5.18	-6.77	238	-28	-29	-32	-27	-32	-26
Repayment of Debt	-	-	-11	-	-185	-1.25	-6.25	-	-	-	-10
Repurchase of Common Equity	-3.55	-1.96	-3.44	-4.92	-3.89	-30	-26	-32	-28	-35	-26
Payment of Dividends	-6.22	-6.80	-2.17	-4.78	-0.08	-	-3.67	-2.67	-	-	-0.24
Issuance of Debt	-	-	11	-	197	1.25	6.25	-	-	-	10
Issuance of Common Equity	-	1.49	0.00	1.53	229	1.51	0.00	1.90	-	2.34	0.00
Other Financing Activities, net	0.14	0.02	0.43	1.41	1.14	0.19	0.12	0.84	0.78	0.50	0.30
Effect of Exchange Rate Changes	-0.09	-0.04	-0.11	0.03	0.12	0.18	0.29	-0.34	-0.16	-0.05	0.50
Cash Interest Paid	2.70	2.80	2.72	2.30	2.48	-0.14	1.45	-0.04	-0.39	-0.12	0.49
Cash Income Taxes Paid	0.52	0.63	0.39	0.25	0.54	0.71	0.38	1.08	0.57	1.03	1.43

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

Metric	2020	2021	2022	2023	2024	2025
Period end date	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025
Total Assets	286	397	467	551	1,111	1,504
Total Current Assets	141	196	236	310	617	686
Cash & Equivalents	51	104	121	132	366	320
Accounts Receivable	79	84	106	170	235	322
Prepaid Expenses	3.90	6.97	7.15	6.27	13	29
Other Current Assets	7.37	1.65	1.87	1.62	1.81	15
Plant, Property, & Equipment, net	6.12	5.63	5.98	7.45	8.86	15
Total Noncurrent Assets	139	196	224	234	486	802
Goodwill	76	115	133	141	326	528
Intangible Assets	61	79	81	81	144	249
Noncurrent Deferred & Refundable Income Taxes	0.37	0.96	0.75	0.73	0.62	1.21
Other Noncurrent Operating Assets	0.52	1.11	9.19	11	15	24
Total Liabilities & Shareholders' Equity	286	397	467	551	1,111	1,504
Total Liabilities	371	307	338	370	435	699
Total Current Liabilities	104	106	129	176	199	429
Accounts Payable	41	22	34	64	44	40
Accrued Expenses	45	64	72	85	121	179
Current Deferred Revenue	4.05	6.87	2.23	3.30	10	35
Other Current Liabilities	14	13	20	24	24	175
Total Noncurrent Liabilities	267	201	210	194	235	269
Long-Term Debt	190	184	184	184	196	197
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	0.00	17
Other Noncurrent Operating Liabilities	78	17	26	9.66	39	55
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	-239	90	128	181	677	805
Total Preferred & Common Equity	-239	90	128	181	677	805
Total Common Equity	-239	90	128	181	677	805
Common Stock	5.07	584	901	1,141	1,707	1,864
Retained Earnings	-242	-492	-771	-959	-1,028	-1,060
Accumulated Other Comprehensive Income / (Loss)	-2.04	-2.10	-2.05	-2.01	-2.01	0.47

This table presents Zeta Global's 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	441	470	491	511	550	584	869	1,088	1,100	1,151	1,447
Total Current Assets	216	226	247	270	311	348	634	602	630	689	649
Cash & Equivalents	115	108	117	121	142	155	419	364	365	385	289
Accounts Receivable	91	109	122	140	161	183	204	224	251	272	322
Prepaid Expenses	7.60	6.61	5.39	6.49	7.39	8.60	9.70	11	11	28	32
Other Current Assets	1.89	2.23	2.06	1.84	1.28	1.46	1.70	2.54	2.53	3.12	6.62
Plant, Property, & Equipment, net	6.24	5.99	6.67	7.46	8.12	7.53	7.38	8.95	11	12	15
Total Noncurrent Assets	219	238	238	234	231	229	228	477	459	449	783
Goodwill	133	141	141	141	141	141	141	326	318	317	522
Intangible Assets	82	86	87	83	78	75	72	134	125	117	236
Noncurrent Deferred & Refundable Income Taxes	1.25	0.76	0.77	0.84	0.75	0.79	0.84	0.84	0.96	1.15	1.24
Other Noncurrent Operating Assets	2.06	9.85	9.80	9.35	12	12	14	16	15	14	24
Total Liabilities & Shareholders' Equity	441	470	491	511	550	584	869	1,088	1,100	1,151	1,447
Total Liabilities	332	340	354	362	359	367	394	411	427	462	567
Total Current Liabilities	123	130	147	163	164	176	191	181	194	229	314
Accounts Payable	28	38	56	59	53	47	58	33	48	29	32
Accrued Expenses	64	66	64	73	84	108	108	115	116	157	173
Current Deferred Revenue	6.10	3.71	3.38	2.33	4.46	3.68	3.59	6.02	3.86	4.03	37
Other Current Liabilities	25	22	24	28	23	18	21	27	26	39	72
Total Noncurrent Liabilities	208	210	207	199	194	191	203	230	233	233	253
Long-Term Debt	184	184	184	184	184	184	196	196	197	197	197
Noncurrent Deferred & Payable Income Tax Liabilities	-	-	-	-	-	-	-	-	-	-	18
Other Noncurrent Operating Liabilities	24	26	23	15	10	6.52	7.21	34	36	36	38
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	109	130	137	150	192	217	475	677	673	689	880
Total Preferred & Common Equity	109	130	137	150	192	217	475	677	673	689	880
Total Common Equity	109	130	137	150	192	217	475	677	673	689	880
Common Stock	832	960	1,019	1,075	1,192	1,245	1,520	1,729	1,738	1,758	1,959
Retained Earnings	-719	-828	-880	-923	-998	-1,026	-1,044	-1,050	-1,063	-1,066	-1,073
Accumulated Other Comprehensive Income / (Loss)	-3.52	-1.90	-1.84	-2.12	-2.06	-2.01	-1.86	-2.03	-2.10	-2.21	-5.41

This table displays calculated financial ratios and metrics derived from Zeta Global's official financial filings.

Metric	2019	2020	2021	2022	2023	2024	2025
Period end date	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	0.00%	20.28%	24.51%	28.94%	23.31%	38.02%	29.72%
EBITDA Growth	0.00%	-67.56%	-5,267.75%	-6.78%	43.87%	90.50%	432.82%
EBIT Growth	0.00%	-64.12%	-602.95%	-7.90%	35.81%	61.30%	51.83%
NOPAT Growth	0.00%	53.93%	-2,976.25%	-4.28%	35.27%	59.50%	107.91%
Net Income Growth	0.00%	-38.37%	-368.88%	-11.89%	32.86%	62.79%	54.84%
EPS Growth	0.00%	-25.99%	-32.29%	31.86%	40.30%	68.33%	63.16%
Operating Cash Flow Growth	0.00%	16.14%	24.63%	77.20%	15.34%	47.88%	48.59%
Free Cash Flow Firm Growth	0.00%	0.00%	-386.77%	30.40%	21.05%	-101.66%	46.75%
Invested Capital Growth	0.00%	0.00%	215.51%	12.12%	22.04%	117.63%	34.52%
Revenue Q/Q Growth	0.00%	0.00%	0.00%	7.32%	5.07%	11.58%	6.53%
EBITDA Q/Q Growth	0.00%	0.00%	0.00%	4.29%	12.71%	79.11%	-10.45%
EBIT Q/Q Growth	0.00%	0.00%	0.00%	3.63%	8.85%	37.88%	-29.95%
NOPAT Q/Q Growth	0.00%	0.00%	0.00%	4.93%	8.64%	36.35%	196.90%
Net Income Q/Q Growth	0.00%	0.00%	0.00%	3.25%	8.08%	42.00%	-38.12%
EPS Q/Q Growth	0.00%	0.00%	0.00%	-54.62%	10.45%	44.93%	-75.00%
Operating Cash Flow Q/Q Growth	0.00%	0.00%	4.80%	2.84%	4.46%	14.27%	11.46%
Free Cash Flow Firm Q/Q Growth	0.00%	0.00%	0.00%	0.00%	2.38%	-181.85%	32.16%
Invested Capital Q/Q Growth	0.00%	0.00%	0.00%	7.13%	9.35%	100.83%	36.13%
Profitability Metrics	-	-	-	-	-	-	-
Gross Margin	63.93%	59.56%	61.88%	63.54%	62.33%	60.27%	60.63%
EBITDA Margin	4.04%	1.09%	-45.27%	-37.49%	-17.06%	-1.17%	3.01%
Operating Margin	-5.73%	-2.19%	-54.20%	-43.83%	-23.01%	-6.75%	0.41%
EBIT Margin	-7.18%	-9.79%	-55.29%	-46.27%	-24.08%	-6.75%	-2.51%
Profit (Net Income) Margin	-12.57%	-14.46%	-54.45%	-47.25%	-25.73%	-6.94%	-2.42%
Tax Burden Percent	102.69%	101.76%	99.76%	99.47%	100.56%	93.09%	95.23%
Interest Burden Percent	170.53%	145.10%	98.72%	102.67%	106.23%	110.35%	101.13%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	-20.95%	-155.12%	-100.42%	-55.39%	-12.85%	0.63%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	-89.42%	-224.32%	-237.76%	-177.04%	25.00%	24.74%
Return on Net Nonoperating Assets (RNNOA)	0.00%	146.17%	-8,956.35%	-155.15%	-66.13%	-3.43%	-4.89%
Return on Equity (ROE)	0.00%	125.22%	-9,111.46%	-255.58%	-121.52%	-16.28%	-4.25%
Cash Return on Invested Capital (CROIC)	0.00%	-220.95%	-258.85%	-111.85%	-75.24%	-86.92%	-28.80%
Operating Return on Assets (OROA)	0.00%	-12.59%	-74.14%	-63.31%	-34.51%	-8.17%	-2.50%
Return on Assets (ROA)	0.00%	-18.59%	-73.02%	-64.66%	-36.86%	-8.40%	-2.41%
Return on Common Equity (ROCE)	0.00%	352.37%	247,383.40%	-255.58%	-121.52%	-16.28%	-4.25%
Return on Equity Simple (ROE_SIMPLE)	0.00%	22.25%	-275.80%	-218.10%	-103.86%	-10.31%	0.00%
Net Operating Profit after Tax (NOPAT)	-12	-5.65	-174	-181	-117	-48	3.76
NOPAT Margin	-4.01%	-1.54%	-37.94%	-30.68%	-16.11%	-4.73%	0.29%
Net Nonoperating Expense Percent (NNEP)	0.00%	68.47%	69.20%	137.33%	121.64%	-37.85%	-24.11%
Return On Investment Capital (ROIC_SIMPLE)	-	-	-	-58.12%	-32.19%	-5.45%	0.38%
Cost of Revenue to Revenue	36.07%	40.44%	38.12%	36.46%	37.67%	39.73%	39.37%
SG&A Expenses to Revenue	23.96%	19.25%	41.37%	36.15%	28.19%	20.34%	17.86%
R&D to Revenue	9.37%	8.63%	14.07%	11.75%	10.14%	9.02%	8.98%
Operating Expenses to Revenue	69.66%	61.75%	116.02%	107.37%	85.34%	67.01%	60.22%
Earnings before Interest and Taxes (EBIT)	-22	-36	-253	-273	-176	-68	-33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	12	4.02	-207	-222	-124	-12	39
Valuation Ratios	-	-	-	-	-	-	-
Price to Book Value (P/BV)	0.00	0.00	18.37	13.19	10.47	6.31	12.17
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	0.00	0.00	20.67	359.47
Price to Revenue (P/Rev)	0.70	0.58	3.63	2.86	2.59	4.25	7.51
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	9.42	10.23	9.17	8.34	8.09	14.18
Enterprise Value to Revenue (EV/Rev)	0.00	1.38	3.80	2.96	2.67	4.08	7.41
Enterprise Value to EBITDA (EV/EBITDA)	0.00	126.57	0.00	0.00	0.00	0.00	245.89
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	2,571.33
Enterprise Value to Operating Cash Flow (EV/OCF)	0.00	14.30	39.34	22.31	21.46	30.64	48.61
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-
Debt to Equity	0.00	-2.23	2.03	1.44	1.02	0.29	0.24
Long-Term Debt to Equity	0.00	-2.23	2.03	1.44	1.02	0.29	0.24
Financial Leverage	0.00	-1.63	39.93	0.65	0.37	-0.14	-0.20
Leverage Ratio	0.00	-3.37	124.78	3.95	3.30	1.94	1.77
Compound Leverage Factor	0.00	-4.89	123.18	4.06	3.50	2.14	1.79
Debt to Total Capital	0.00%	181.21%	66.99%	58.96%	50.50%	22.48%	19.68%
Short-Term Debt to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	181.21%	66.99%	58.96%	50.50%	22.48%	19.68%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	147.31%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	0.00%	-228.52%	33.01%	41.04%	49.50%	77.52%	80.32%
Debt to EBITDA	0.00	47.25	-0.88	-0.83	-1.48	-16.61	5.01
Net Debt to EBITDA	0.00	34.61	-0.38	-0.28	-0.42	14.38	-3.12
Long-Term Debt to EBITDA	0.00	47.25	-0.88	-0.83	-1.48	-16.61	5.01
Debt to NOPAT	0.00	-33.56	-1.06	-1.01	-1.57	-4.13	52.41
Net Debt to NOPAT	0.00	-24.59	-0.46	-0.35	-0.45	3.57	-32.62
Long-Term Debt to NOPAT	0.00	-33.56	-1.06	-1.01	-1.57	-4.13	52.41
Altman Z-Score	0.00	0.19	0.84	0.29	1.19	5.76	8.42
Noncontrolling Interest Sharing Ratio	0.00%	-181.40%	2,815.08%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-
Current Ratio	0.00	1.36	1.85	1.84	1.76	3.09	1.60
Quick Ratio	0.00	1.25	1.77	1.77	1.71	3.02	1.50
Cash Flow Metrics	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	0.00	-60	-290	-202	-159	-322	-171
Operating Cash Flow to CapEx	134.95%	140.99%	165.54%	200.04%	251.66%	320.49%	586.59%
Free Cash Flow to Firm to Interest Expense	0.00	-3.67	0.00	-27.65	-14.58	-44.99	-461.50
Operating Cash Flow to Interest Expense	1.98	2.19	0.00	10.75	8.28	18.73	536.12
Operating Cash Flow Less CapEx to Interest Expense	0.51	0.64	0.00	5.37	4.99	12.89	444.73
Efficiency Ratios	-	-	-	-	-	-	-
Asset Turnover	0.00	1.29	1.34	1.37	1.43	1.21	1.00
Accounts Receivable Turnover	0.00	4.64	5.63	6.22	5.27	4.96	4.68
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	0.00	60.18	78.03	101.79	108.50	123.34	107.61
Accounts Payable Turnover	0.00	3.63	5.57	7.78	5.65	7.45	12.26
Days Sales Outstanding (DSO)	0.00	78.69	64.88	58.64	69.23	73.55	78.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	0.00	100.46	65.48	46.91	64.65	48.98	29.78
Cash Conversion Cycle (CCC)	0.00	-21.77	-0.60	11.74	4.58	24.57	48.22
Capital & Investment Metrics	-	-	-	-	-	-	-
Invested Capital	0.00	54	170	191	233	507	682
Invested Capital Turnover	0.00	13.64	4.09	3.27	3.44	2.72	2.19
Increase / (Decrease) in Invested Capital	0.00	54	116	21	42	274	175
Enterprise Value (EV)	0.00	508	1,742	1,751	1,942	4,102	9,669
Market Capitalization	215	215	1,663	1,688	1,890	4,272	9,792
Book Value per Share	$0.00	($7.34)	$0.46	$0.62	$0.84	$2.85	$1.67
Tangible Book Value per Share	$0.00	($11.57)	($0.52)	($0.42)	($0.19)	$0.87	$0.06
Total Capital	0.00	105	274	312	365	873	1,002
Total Debt	0.00	190	184	184	184	196	197
Total Long-Term Debt	0.00	190	184	184	184	196	197
Net Debt	0.00	139	80	63	52	-170	-123
Capital Expenditures (CapEx)	23	25	27	39	36	42	34
Debt-free, Cash-free Net Working Capital (DFCFNWC)	0.00	-13	-14	-13	1.64	51	-63
Debt-free Net Working Capital (DFNWC)	0.00	37	90	108	133	417	256
Net Working Capital (NWC)	0.00	37	90	108	133	417	256
Net Nonoperating Expense (NNE)	26	48	76	98	70	22	35
Net Nonoperating Obligations (NNO)	0.00	139	80	63	52	-170	-123
Total Depreciation and Amortization (D&A)	34	40	46	52	51	56	72
Debt-free, Cash-free Net Working Capital to Revenue	0.00%	-3.62%	-2.96%	-2.26%	0.22%	5.08%	-4.86%
Debt-free Net Working Capital to Revenue	0.00%	10.16%	19.70%	18.23%	18.30%	41.48%	19.65%
Net Working Capital to Revenue	0.00%	10.16%	19.70%	18.23%	18.30%	41.48%	19.65%
Earnings Adjustments	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	$0.00	$0.00	($2.95)	($2.01)	($1.20)	($0.38)	($0.14)
Adjusted Weighted Average Basic Shares Outstanding	0.00	0.00	86.93M	138.99M	156.70M	185.98M	220.72M
Adjusted Diluted Earnings per Share	$0.00	$0.00	($2.95)	($2.01)	($1.20)	($0.38)	($0.14)
Adjusted Weighted Average Diluted Shares Outstanding	0.00	0.00	86.93M	138.99M	156.70M	185.98M	220.72M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	0.00	0.00	199.20M	207.42M	218.42M	475.44M	488.25M
Normalized Net Operating Profit after Tax (NOPAT)	-7.16	-0.41	-172	-181	-115	-42	20
Normalized NOPAT Margin	-2.34%	-0.11%	-37.53%	-30.64%	-15.81%	-4.15%	1.55%
Pre Tax Income Margin	-12.24%	-14.21%	-54.58%	-47.50%	-25.59%	-7.45%	-2.54%
Debt Service Ratios	-	-	-	-	-	-	-
EBIT to Interest Expense	-1.42	-2.22	0.00	-37.44	-16.04	-9.50	-88.18
NOPAT to Interest Expense	-0.79	-0.35	0.00	-24.83	-10.73	-6.65	10.14
EBIT Less CapEx to Interest Expense	-2.88	-3.77	0.00	-42.81	-19.33	-15.35	-179.58
NOPAT Less CapEx to Interest Expense	-2.26	-1.90	0.00	-30.20	-14.02	-12.50	-81.26
Payout Ratios	-	-	-	-	-	-	-
Dividend Payout Ratio	-4.61%	-1.35%	-3.95%	-2.13%	-8.27%	-10.08%	-20.10%
Augmented Payout Ratio	-4.61%	-1.35%	-29.78%	-5.57%	-15.44%	-70.54%	-404.01%

This table displays calculated financial ratios and metrics derived from Zeta Global's 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	-	-	-	-	-	-	-	-	-	-	488,247,200.00
DEI Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	488,247,200.00
DEI Earnings Per Adjusted Shares Outstanding	-	-	-	-	-	-	-	-	-	-	-0.03
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	24.13%	20.09%	23.70%	32.61%	41.97%	49.62%	35.64%	35.38%	25.67%	25.41%	49.88%
EBITDA Growth	50.38%	48.74%	46.32%	66.93%	89.99%	234.86%	91.50%	149.33%	638.52%	-17.86%	536.84%
EBIT Growth	40.45%	34.37%	32.71%	48.99%	61.54%	127.29%	46.30%	54.21%	80.47%	-84.92%	23.25%
NOPAT Growth	43.83%	33.23%	31.60%	42.48%	66.69%	152.67%	55.08%	80.80%	170.70%	672.74%	-16.92%
Net Income Growth	37.95%	31.83%	30.53%	46.19%	59.67%	143.18%	45.41%	54.34%	79.08%	-57.08%	38.67%
EPS Growth	44.90%	40.00%	39.47%	52.94%	66.67%	147.62%	56.52%	62.50%	77.78%	-60.00%	40.00%
Operating Cash Flow Growth	16.83%	16.73%	22.69%	50.81%	50.70%	62.02%	41.08%	35.16%	68.36%	46.82%	42.92%
Free Cash Flow Firm Growth	39.94%	-19.13%	8.82%	-7.79%	21.05%	-307.45%	-435.73%	-328.16%	-404.32%	67.89%	-2.65%
Invested Capital Growth	19.56%	22.04%	13.71%	20.80%	18.49%	117.63%	117.20%	104.56%	98.44%	34.52%	55.07%
Revenue Q/Q Growth	9.99%	11.29%	-7.31%	16.87%	17.76%	17.29%	-15.97%	16.65%	9.31%	17.04%	0.42%
EBITDA Q/Q Growth	27.67%	27.77%	-19.73%	47.13%	78.10%	1,072.92%	-107.55%	406.86%	139.06%	48.39%	-59.87%
EBIT Q/Q Growth	19.27%	17.83%	-12.30%	31.54%	39.13%	158.31%	-321.00%	41.63%	74.04%	145.02%	-1,224.94%
NOPAT Q/Q Growth	19.58%	14.28%	-12.60%	25.90%	53.43%	235.56%	-196.02%	68.32%	271.44%	1,381.66%	-114.53%
Net Income Q/Q Growth	17.39%	18.11%	-12.15%	29.07%	38.09%	187.69%	-241.77%	40.68%	71.64%	279.94%	-302.58%
EPS Q/Q Growth	20.59%	22.22%	-9.52%	30.43%	43.75%	211.11%	-200.00%	40.00%	66.67%	300.00%	-250.00%
Operating Cash Flow Q/Q Growth	10.66%	18.11%	-8.52%	26.13%	10.58%	26.98%	-20.34%	20.83%	37.74%	10.73%	-22.45%
Free Cash Flow Firm Q/Q Growth	-7.42%	-5.74%	17.13%	-14.50%	21.32%	-445.70%	-8.97%	8.49%	7.32%	65.26%	-248.36%
Invested Capital Q/Q Growth	4.31%	9.35%	0.54%	5.33%	2.32%	100.83%	0.35%	-0.80%	-0.74%	36.13%	15.68%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	61.12%	59.77%	60.57%	60.02%	60.62%	59.98%	60.86%	62.07%	60.49%	59.49%	59.01%
EBITDA Margin	-13.95%	-9.06%	-11.70%	-5.29%	-0.98%	8.16%	-0.73%	1.93%	4.22%	5.35%	2.14%
Operating Margin	-19.67%	-15.15%	-18.40%	-11.67%	-4.61%	2.20%	-6.09%	-1.66%	2.60%	4.52%	-4.75%
EBIT Margin	-20.96%	-15.47%	-18.75%	-10.98%	-5.68%	2.82%	-7.42%	-3.71%	-0.88%	0.34%	-3.80%
Profit (Net Income) Margin	-22.80%	-16.77%	-20.30%	-12.32%	-6.48%	4.84%	-8.17%	-4.15%	-1.08%	1.66%	-3.34%
Tax Burden Percent	101.39%	99.83%	101.01%	101.76%	101.16%	169.70%	108.24%	110.26%	130.06%	508.87%	83.71%
Interest Burden Percent	107.31%	108.60%	107.18%	110.23%	112.77%	101.10%	101.69%	101.45%	93.95%	95.97%	105.05%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	-69.70%	0.00%	0.00%	0.00%	-408.87%	0.00%
Return on Invested Capital (ROIC)	-48.81%	-36.46%	-44.84%	-29.78%	-12.51%	10.15%	-12.35%	-3.56%	5.91%	50.49%	-7.37%
ROIC Less NNEP Spread (ROIC-NNEP)	-74.62%	-58.99%	-69.20%	-49.38%	-1.57%	4.21%	4.12%	9.73%	10.66%	108.07%	-7.32%
Return on Net Nonoperating Assets (RNNOA)	-38.13%	-22.03%	-25.54%	-13.45%	0.40%	-0.58%	-0.60%	-1.52%	-3.76%	-21.34%	1.22%
Return on Equity (ROE)	-86.94%	-58.50%	-70.37%	-43.23%	-12.11%	9.57%	-12.94%	-5.08%	2.15%	29.14%	-6.15%
Cash Return on Invested Capital (CROIC)	-83.50%	-75.24%	-60.89%	-59.66%	-49.02%	-86.92%	-82.97%	-73.63%	-67.00%	-28.80%	-42.90%
Operating Return on Assets (OROA)	-30.53%	-22.17%	-28.15%	-16.79%	-7.41%	3.42%	-9.74%	-5.10%	-1.07%	0.34%	-4.31%
Return on Assets (ROA)	-33.22%	-24.03%	-30.48%	-18.84%	-8.46%	5.86%	-10.73%	-5.70%	-1.31%	1.65%	-3.79%
Return on Common Equity (ROCE)	-86.94%	-58.50%	-70.37%	-43.23%	-12.11%	9.57%	-12.94%	-5.08%	2.15%	29.14%	-6.15%
Return on Equity Simple (ROE_SIMPLE)	-136.17%	0.00%	-88.77%	-67.27%	-25.33%	0.00%	-7.66%	0.00%	0.00%	0.00%	0.00%
Net Operating Profit after Tax (NOPAT)	-26	-22	-25	-19	-8.67	12	-11	-3.57	6.13	91	-13
NOPAT Margin	-13.77%	-10.60%	-12.88%	-8.17%	-3.23%	3.73%	-4.27%	-1.16%	1.82%	23.00%	-3.33%
Net Nonoperating Expense Percent (NNEP)	25.80%	22.52%	24.37%	19.60%	-10.94%	5.94%	-16.47%	-13.30%	-4.75%	-57.59%	-0.05%
Return On Investment Capital (ROIC_SIMPLE)	-	-6.12%	-	-	-	1.35%	-1.29%	-0.41%	0.69%	9.06%	-1.22%
Cost of Revenue to Revenue	38.88%	40.23%	39.43%	39.98%	39.38%	40.02%	39.14%	37.93%	39.51%	40.51%	40.99%
SG&A Expenses to Revenue	26.83%	24.44%	25.04%	22.45%	18.82%	17.20%	20.44%	20.16%	16.73%	15.31%	18.52%
R&D to Revenue	9.56%	9.48%	10.25%	10.36%	8.50%	7.71%	10.14%	9.92%	8.84%	7.59%	11.34%
Operating Expenses to Revenue	80.78%	74.92%	78.97%	71.69%	65.23%	57.74%	66.96%	63.73%	57.89%	54.97%	63.76%
Earnings before Interest and Taxes (EBIT)	-40	-33	-37	-25	-15	8.88	-20	-11	-2.97	1.34	-15
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	-26	-19	-23	-12	-2.64	26	-1.94	5.95	14	21	8.47
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	11.94	10.47	12.22	17.79	13.82	6.31	9.53	10.84	13.58	12.17	8.83
Price to Tangible Book Value (P/TBV)	0.00	0.00	0.00	2,820.78	25.09	20.67	29.77	31.65	36.67	359.47	63.46
Price to Revenue (P/Rev)	2.58	2.59	3.06	4.70	7.28	4.25	6.00	6.31	7.64	7.51	5.41
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
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	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	8.69	8.34	10.18	15.77	25.11	8.09	12.34	14.13	18.31	14.18	9.74
Enterprise Value to Revenue (EV/Rev)	2.67	2.67	3.11	4.73	7.03	4.08	5.84	6.17	7.49	7.41	5.35
Enterprise Value to EBITDA (EV/EBITDA)	0.00	0.00	0.00	0.00	0.00	0.00	693.75	263.49	208.88	245.89	154.47
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	2,571.33	4,147.18
Enterprise Value to Operating Cash Flow (EV/OCF)	21.37	21.46	25.08	36.86	54.11	30.64	43.61	46.01	51.40	48.61	35.92
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	1.23	1.02	0.96	0.85	0.41	0.29	0.29	0.29	0.29	0.24	0.22
Long-Term Debt to Equity	1.23	1.02	0.96	0.85	0.41	0.29	0.29	0.29	0.29	0.24	0.22
Financial Leverage	0.51	0.37	0.37	0.27	-0.25	-0.14	-0.14	-0.16	-0.35	-0.20	-0.17
Leverage Ratio	3.68	3.30	3.17	3.03	2.21	1.94	1.89	1.89	1.74	1.77	1.63
Compound Leverage Factor	3.95	3.58	3.40	3.34	2.49	1.96	1.92	1.92	1.63	1.69	1.71
Debt to Total Capital	55.13%	50.50%	49.02%	45.93%	29.23%	22.48%	22.50%	22.61%	22.22%	19.68%	18.31%
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	55.13%	50.50%	49.02%	45.93%	29.23%	22.48%	22.50%	22.61%	22.22%	19.68%	18.31%
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	44.87%	49.50%	50.98%	54.07%	70.77%	77.52%	77.50%	77.39%	77.78%	80.32%	81.69%
Debt to EBITDA	-1.29	-1.48	-1.76	-2.30	-3.47	-16.61	21.71	7.27	4.48	5.01	3.97
Net Debt to EBITDA	-0.44	-0.42	-0.41	-0.37	3.93	14.38	-18.55	-6.23	-4.29	-3.12	-1.84
Long-Term Debt to EBITDA	-1.29	-1.48	-1.76	-2.30	-3.47	-16.61	21.71	7.27	4.48	5.01	3.97
Debt to NOPAT	-1.43	-1.57	-1.74	-2.00	-2.63	-4.13	-5.83	-10.53	-50.73	52.41	106.51
Net Debt to NOPAT	-0.49	-0.45	-0.40	-0.32	2.98	3.57	4.98	9.03	48.52	-32.62	-49.40
Long-Term Debt to NOPAT	-1.43	-1.57	-1.74	-2.00	-2.63	-4.13	-5.83	-10.53	-50.73	52.41	106.51
Altman Z-Score	1.79	2.05	2.87	5.48	9.90	5.98	9.45	10.40	12.41	8.49	8.43
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	1.66	1.76	1.89	1.98	3.32	3.09	3.33	3.25	3.01	1.60	2.07
Quick Ratio	1.61	1.71	1.84	1.92	3.26	3.02	3.25	3.18	2.87	1.50	1.94
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-61	-64	-53	-61	-48	-262	-286	-262	-242	-84	-293
Operating Cash Flow to CapEx	243.52%	308.49%	260.91%	274.75%	391.33%	358.09%	504.99%	516.13%	544.76%	778.53%	581.41%
Free Cash Flow to Firm to Interest Expense	-21.03	-22.99	-20.32	-23.86	-24.71	-15,426.48	-863.34	-1,575.35	0.00	-1,559.32	-385.45
Operating Cash Flow to Interest Expense	7.89	9.63	9.40	12.15	17.69	2,569.59	105.13	253.31	0.00	1,187.69	65.35
Operating Cash Flow Less CapEx to Interest Expense	4.65	6.51	5.80	7.73	13.17	1,852.00	84.31	204.23	0.00	1,035.13	54.11
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	1.46	1.43	1.50	1.53	1.31	1.21	1.31	1.37	1.21	1.00	1.13
Accounts Receivable Turnover	5.98	5.27	5.67	5.39	5.24	4.96	5.60	5.33	5.15	4.68	5.27
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	101.31	108.50	108.61	115.77	121.49	123.34	126.00	126.09	123.41	107.61	121.65
Accounts Payable Turnover	5.84	5.65	6.47	6.36	6.09	7.45	9.92	9.56	10.96	12.26	17.70
Days Sales Outstanding (DSO)	61.00	69.23	64.32	67.67	69.67	73.55	65.24	68.50	70.93	78.00	69.29
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)	62.47	64.65	56.44	57.35	59.94	48.98	36.78	38.18	33.32	29.78	20.62
Cash Conversion Cycle (CCC)	-1.47	4.58	7.89	10.32	9.73	24.57	28.45	30.32	37.61	48.22	48.67
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	213	233	234	247	252	507	509	505	501	682	789
Invested Capital Turnover	3.55	3.44	3.48	3.65	3.87	2.72	2.89	3.08	3.25	2.19	2.21
Increase / (Decrease) in Invested Capital	35	42	28	42	39	274	274	258	248	175	280
Enterprise Value (EV)	1,852	1,942	2,385	3,891	6,339	4,102	6,279	7,129	9,172	9,669	7,681
Market Capitalization	1,788	1,890	2,342	3,862	6,561	4,272	6,447	7,297	9,361	9,792	7,773
Book Value per Share	$0.70	$0.84	$1.12	$0.99	$2.16	$2.85	$1.42	$1.43	$3.10	$1.67	$1.80
Tangible Book Value per Share	($0.35)	($0.19)	($0.16)	$0.01	$1.19	$0.87	$0.46	$0.49	$1.15	$0.06	$0.25
Total Capital	334	365	376	401	671	873	873	870	886	1,002	1,078
Total Debt	184	184	184	184	196	196	196	197	197	197	197
Total Long-Term Debt	184	184	184	184	196	196	196	197	197	197	197
Net Debt	63	52	43	30	-222	-170	-168	-169	-188	-123	-91
Capital Expenditures (CapEx)	9.37	8.74	9.45	11	8.79	12	6.89	8.15	11	8.24	8.55
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-14	1.64	4.84	17	24	51	57	71	75	-63	46
Debt-free Net Working Capital (DFNWC)	107	133	146	172	443	417	421	436	460	256	335
Net Working Capital (NWC)	107	133	146	172	443	417	421	436	460	256	335
Net Nonoperating Expense (NNE)	17	13	14	9.46	8.71	-3.49	10	9.24	9.76	84	0.06
Net Nonoperating Obligations (NNO)	63	52	43	30	-222	-170	-168	-169	-188	-123	-91
Total Depreciation and Amortization (D&A)	13	13	14	13	13	17	18	17	17	20	24
Debt-free, Cash-free Net Working Capital to Revenue	-1.99%	0.22%	0.63%	2.06%	2.68%	5.08%	5.26%	6.15%	6.13%	-4.86%	3.22%
Debt-free Net Working Capital to Revenue	15.43%	18.30%	19.12%	20.88%	49.12%	41.48%	39.16%	37.75%	37.58%	19.65%	23.33%
Net Working Capital to Revenue	15.43%	18.30%	19.12%	20.88%	49.12%	41.48%	39.16%	37.75%	37.58%	19.65%	23.33%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.27)	($0.21)	($0.23)	($0.16)	($0.09)	$0.10	($0.10)	($0.06)	($0.02)	$0.04	($0.06)
Adjusted Weighted Average Basic Shares Outstanding	158.06M	156.70M	171.23M	177.87M	187.91M	185.98M	212.56M	217.25M	222.44M	220.72M	238.55M
Adjusted Diluted Earnings per Share	($0.27)	($0.21)	($0.23)	($0.16)	($0.09)	$0.10	($0.10)	($0.06)	($0.02)	$0.04	($0.06)
Adjusted Weighted Average Diluted Shares Outstanding	158.06M	156.70M	171.23M	177.87M	187.91M	185.98M	212.56M	217.25M	222.44M	220.72M	238.55M
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	214.28M	218.42M	218.79M	219.95M	237.45M	475.44M	471.09M	0.00	481.17M	488.25M	498.52M
Normalized Net Operating Profit after Tax (NOPAT)	-26	-22	-25	-19	-5.46	7.40	-9.07	-3.57	11	22	-7.29
Normalized NOPAT Margin	-13.77%	-10.60%	-12.88%	-8.17%	-2.03%	2.35%	-3.43%	-1.16%	3.16%	5.61%	-1.84%
Pre Tax Income Margin	-22.49%	-16.80%	-20.09%	-12.11%	-6.40%	2.85%	-7.55%	-3.77%	-0.83%	0.33%	-3.99%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-13.68	-11.62	-13.92	-9.77	-7.83	522.35	-59.29	-69.01	0.00	24.80	-19.79
NOPAT to Interest Expense	-8.99	-7.96	-9.57	-7.27	-4.46	690.99	-34.08	-21.53	0.00	1,680.97	-17.33
EBIT Less CapEx to Interest Expense	-16.92	-14.74	-17.52	-14.20	-12.35	-195.24	-80.11	-118.09	0.00	-127.76	-31.03
NOPAT Less CapEx to Interest Expense	-12.23	-11.09	-13.17	-11.69	-8.98	-26.59	-54.89	-70.61	0.00	1,528.42	-28.57
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	-6.07%	-8.27%	-9.82%	-13.68%	-11.50%	-10.08%	-16.46%	-17.54%	-27.76%	-20.10%	-12.55%
Augmented Payout Ratio	-14.30%	-15.44%	-15.91%	-23.18%	-23.31%	-70.54%	-141.20%	-268.56%	-535.81%	-404.01%	-534.29%

Financials Breakdown Chart

Key Financial Trends

Here are the key takeaways from Zeta Global's quarterly statements over the last four years, focusing on trends in income, cash flow, and the balance sheet. Items are grouped with positive first, then neutral, then negative indicators.

Steady revenue growth over four years: Revenue expands from about $175.1M in 2022 Q4 up to $394.6M in 2025 Q4, indicating sustained top-line growth despite quarterly volatility.
Gross margin around 60% across periods: Gross margin remains in the high 50s to 60% range (e.g., Q4 2025 gross profit $234.8M on $394.6M revenue ≈ 59.6%), suggesting consistent product profitability.
Operating cash flow improving in 2025: Net cash from continuing operating activities grows through 2025 (e.g., about $64.1M in Q4 2025 vs roughly $34.7M in Q1 2025).
Positive free cash flow in late 2025: After about $8.2M in capital expenditures in Q4 2025, estimated free cash flow from that quarter ≈ $56M, highlighting cash-generation strength after investing.
Strong liquidity position: Across quarters, current assets (~$630–$689M) vs current liabilities (~$174–$229M) yield a comfortable current ratio around 3x in several periods (e.g., Q3 2025: current assets $689.1M vs. current liabilities $228.8M).
Balance sheet remains solid with stable equity base: Total equity typically in the mid-$600M range (e.g., about $676–$689M), supporting a solid equity cushion relative to liabilities.
Net income turns positive in 2025 Q4: Net income attributable to common shareholders climbs to about $6.54M in Q4 2025 after earlier quarterly losses in 2025, signaling a potential near-term profitability inflection.
Large acquisitions in 2025 Q4: Acquisitions totaled around $89M, contributing to heavier investing cash outflows but aiming to fuel growth; overall impact depends on post-acquisition integration.
Debt level remains moderate but elevated vs. equity: Long-term debt generally in the $184–$196M range with total liabilities around $360–$461M across periods; leverage is manageable but warrants watchful eyes on coverage if profitability sobriety falters.
Financing activity shows net outflows in several quarters: Net cash from financing activities is often negative in 2025 (e.g., share repurchases and debt activity), contributing to overall cash outflows despite strong operating cash flow.
Q4 2025 cash burn despite positive operations: Net change in cash and equivalents for Q4 2025 is about a $65.4M decrease, driven by heavy investing and financing outflows even with solid operating cash flow.
Profitability remains volatile in 2025: While Q4 2025 was profitable, Q2–Q3 2025 showed quarter-to-quarter losses, indicating ongoing earnings volatility that investors should monitor as revenue scales.

05/21/26 01:07 PM ETAI Generated. May Contain Errors.

Zeta Global Financials - Frequently Asked Questions

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

In the past 6 years, Zeta Global's net income has ranged from -$279.24 million in 2022 to -$31.51 million in 2025, and is currently -$31.51 million as of their latest financial filing in 2025. Check out Zeta Global's forecast to explore projected trends and price targets.

Zeta Global's total operating income in 2025 was $5.37 million, based on the following breakdown:

Total Gross Profit: $791.08 million
Total Operating Expenses: $785.71 million

Over the last 6 years, Zeta Global's total revenue changed from $306.05 million in 2019 to $1.30 billion in 2025, a change of 326.3%.

Zeta Global's total liabilities were at $698.94 million at the end of 2025, a 60.8% increase from 2024, and a 88.2% increase since 2020.

In the past 5 years, Zeta Global's cash and equivalents has ranged from $50.73 million in 2020 to $366.16 million in 2024, and is currently $319.76 million as of their latest financial filing in 2025.

Over the last 6 years, Zeta Global's book value per share changed from 0.00 in 2019 to 1.67 in 2025, a change of 167.2%.

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Financial statements for NYSE:ZETA last updated on 5/3/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.

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Zeta Global (ZETA) Financials

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Zeta Global (ZETA) Financials

Annual Income Statements for Zeta Global

Quarterly Income Statements for Zeta Global

Annual Cash Flow Statements for Zeta Global

Quarterly Cash Flow Statements for Zeta Global

Annual Balance Sheets for Zeta Global

Quarterly Balance Sheets for Zeta Global

Annual Metrics And Ratios for Zeta Global

Quarterly Metrics And Ratios for Zeta Global

Financials Breakdown Chart

Key Financial Trends

Zeta Global Financials - Frequently Asked Questions

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What is Zeta Global's operating income?

How has Zeta Global's revenue changed over the last 6 years?

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How has Zeta Global's book value per share changed over the last 6 years?

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