ZIFF DAVIS, INC. ZD
Ziff Davis, Inc., together with its subsidiaries ("Ziff Davis", the "Company", "our", "us", or "we"), is a vertically focused digital media and internet company whose portfolio includes leading brands in technology, shopping, gaming and entertainment, health and wellness, connectivity, cybersecurity, and martech. Our digital media businesses specialize in publishing and producing trusted editorial content and tools for users seeking information and advice relating to the technology, shopping, gaming and entertainment, and health and wellness markets, and offer services to consumers and businesses. Our connectivity business develops actionable broadband network intelligence and insights through data collection and analysis, and delivers products and services that facilitate improvements in network performance to enterprises that provide or rely on broadband networks, including through the provision of hardware and software used for planning and assessing the performance of wi-fi networks. Our cybersecurity and marketing technology business provides internet-delivered cloud-based subscription and licensed services to consumers and businesses including cybersecurity, privacy, and digital marketing tools.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $1.45B | $1.40B | $1.36B | $1.39B | $1.42B | $1.16B | $1.05B | $1.21B | $1.12B | $874.3M |
| Cost of revenue | $206.6M | $200.3M | $185.7M | $184.5M | $188.1M | $178.4M | $187.3M | $201.1M | $172.3M | $147.1M |
| Gross profit | $1.24B | $1.20B | $1.18B | $1.21B | $1.23B | $980.4M | $863.1M | $1.01B | $945.5M | $727.2M |
| R&D | $62.0M | $67.4M | $68.9M | $74.1M | $78.9M | $57.1M | $44.7M | $48.4M | $46.0M | $38.0M |
| SG&A | $210.0M | $203.5M | $195.7M | $181.9M | $456.8M | $418.6M | $402.6M | $375.3M | $323.5M | $239.7M |
| Total operating expenses | — | — | — | — | $1.06B | $842.1M | $774.9M | $761.9M | $699.8M | $484.6M |
| Operating income | $183.1M | $113.6M | $132.6M | $198.9M | $167.3M | $138.3M | $88.2M | $244.3M | $245.7M | $242.6M |
| Interest expense | $37.6M | $35.3M | $41.6M | $37.1M | $79.6M | $58.1M | $26.1M | $63.5M | $59.2M | $42.7M |
| Pre-tax income | $80.7M | $93.2M | $75.0M | $131.2M | $351.4M | $78.3M | $54.8M | $177.6M | $200.0M | $211.4M |
| Income tax | $25.4M | $41.4M | $24.1M | $58.0M | $14.2M | $38.4M | $13.8M | $44.8M | $60.5M | $59.0M |
| Net income | $47.4M | $63.0M | $41.5M | $63.8M | $496.7M | $150.7M | $218.8M | $128.7M | $139.4M | $152.4M |
| EPS, basic | 1.16 | 1.42 | 0.89 | 1.36 | 10.81 | 3.24 | 4.52 | 2.64 | 2.89 | 3.15 |
| EPS, diluted | 1.15 | 1.42 | 0.89 | 1.36 | 10.37 | 3.18 | 4.39 | 2.59 | 2.83 | 3.13 |
| Shares, diluted (wtd. avg.) | $41.1M | $44.5M | $46.5M | $47.0M | $47.9M | $47.1M | $49.0M | $48.9M | $48.7M | $48.0M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $607.0M | $505.9M | $737.6M | $652.8M | $694.8M | $176.4M | $524.5M | $135.5M | $350.9M | $124.0M |
| Short-term investments | — | $0 | $27.1M | $58.4M | $229.2M | $663.0K | $0 | — | — | $60.0K |
| Receivables | $667.2M | $660.2M | $337.7M | $304.7M | $316.3M | $309.5M | $261.9M | $221.6M | $234.2M | $199.9M |
| Total current assets | $1.37B | $1.27B | $1.19B | $1.08B | $1.30B | $622.8M | $886.9M | $460.3M | $620.4M | $348.0M |
| Property, plant and equipment | $213.2M | $197.2M | $188.2M | $178.2M | $161.2M | $131.5M | $127.8M | $98.8M | $79.8M | $68.1M |
| Goodwill | $1.61B | $1.58B | $1.55B | $1.59B | $1.53B | $1.52B | $1.31B | $1.38B | $1.20B | $1.12B |
| Other intangibles | $344.2M | $425.7M | $325.4M | $462.8M | $572.7M | $696.9M | $524.9M | $494.8M | $452.9M | $478.9M |
| Total assets | $3.66B | $3.70B | $3.47B | $3.53B | $3.77B | $3.67B | $3.51B | $2.56B | $2.45B | $2.06B |
| Accounts payable | $151.3M | $164.4M | $123.3M | $120.8M | $131.0M | $197.9M | $238.1M | $166.5M | $169.8M | $178.1M |
| Short-term debt | $148.7M | $0 | — | $0 | $54.6M | $396.8M | $385.5M | $0 | $0 | $0 |
| Total current liabilities | $1.07B | $899.6M | $431.8M | $432.4M | $497.2M | $882.6M | $833.1M | $307.3M | $265.1M | $454.1M |
| Long-term debt | $717.8M | $864.3M | $1.00B | $999.1M | $1.04B | $1.18B | $1.06B | $1.01B | $1.00B | $601.7M |
| Total liabilities | $1.91B | $1.89B | $1.58B | $1.64B | $1.80B | $2.45B | $2.19B | $1.53B | $1.43B | $1.15B |
| Retained earnings | $1.34B | $1.40B | $1.49B | $1.54B | $1.52B | $809.1M | $891.5M | $769.6M | $723.1M | $660.4M |
| Total equity | $1.75B | $1.81B | $1.89B | $1.89B | $1.97B | $1.21B | $1.31B | $1.04B | $1.02B | $914.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $407.1M | $390.3M | $320.0M | $336.4M | $516.5M | $480.1M | $412.5M | $401.3M | $264.4M | $282.4M |
| Depreciation and amortisation | $228.7M | $211.9M | $237.0M | $233.4M | $258.3M | $228.7M | $232.0M | $187.2M | $162.0M | $122.1M |
| Stock-based compensation | $44.9M | $40.9M | $31.9M | $26.6M | $25.2M | $24.0M | $23.9M | $28.1M | $22.7M | $13.7M |
| Capital expenditure | $119.2M | $106.6M | $108.7M | $106.2M | $113.7M | $92.6M | $70.6M | $56.4M | $39.6M | $24.7M |
| Investing cash flow | -$145.8M | -$297.5M | -$127.4M | -$220.8M | $59.1M | -$586.2M | -$505.3M | -$406.6M | -$158.5M | -$448.9M |
| Financing cash flow | -$170.3M | -$321.0M | -$114.8M | -$140.8M | -$113.1M | -$234.6M | $456.7M | -$131.4M | $111.8M | $41.1M |
| Dividends paid | — | — | — | — | $0 | $0 | $43.9M | $82.6M | $73.5M | $65.8M |
| Buybacks | $173.8M | $185.2M | $108.5M | $78.3M | $78.3M | $275.7M | $20.8M | $47.1M | $9.8M | $56.5M |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001084048-26-000005.
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