Zoom Communications, Inc. ZM
Zoom is redefining modern work as a system of action, turning live collaboration into completed results. From entrepreneurs to global enterprises, customers choose Zoom to seamlessly collaborate, communicate, and drive outcomes across meetings, chat, phone, contact center, events, and more — all with the built-in assistance of Zoom AI Companion. Our mission to deliver happiness, grounded in our core value of care, is fundamental to everything we do at Zoom.
Our platform bridges work both inside and outside the organization by integrating AI capabilities across employee collaboration and customer-facing workflows, enabling seamless communication, collaboration, and engagement through Zoom Workplace and Zoom Business Services. Zoom Workplace with AI Companion brings together Zoom's core communication and productivity tools—including Zoom Meetings, Zoom Phone, Zoom Team Chat, Zoom Docs, and Zoom Whiteboard—to support collaboration across organizations of varying sizes. Zoom's Business Services for sales, marketing, and customer experience teams, including Zoom Contact Center, Zoom Revenue Accelerator, and Zoom Events, support customer engagement across the the customer lifecycle. Trust is a cornerstone of the Zoom platform. We equip users with a comprehensive set of tools to make their interactions safe, secure, and private. We believe that strong security should never compromise a great user experience.
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 | $4.87B | $4.67B | $4.53B | $4.39B | $4.10B | $2.65B | $622.7M | $330.5M | $151.5M | — |
| Cost of revenue | $1.12B | $1.13B | $1.08B | $1.10B | $1.05B | $822.0M | $115.4M | $61.0M | $30.8M | — |
| Gross profit | $3.75B | $3.54B | $3.45B | $3.29B | $3.05B | $1.83B | $507.3M | $269.5M | $120.7M | — |
| R&D | $844.9M | $852.4M | $803.2M | $774.1M | $363.0M | $164.1M | $67.1M | $33.0M | $15.7M | — |
| SG&A | $392.9M | $442.7M | $579.6M | $576.4M | $482.8M | $320.5M | $86.8M | $44.5M | $27.1M | — |
| Total operating expenses | $2.63B | $2.72B | $2.92B | $3.05B | $1.98B | $1.17B | $494.6M | $263.3M | $125.5M | — |
| Operating income | $1.12B | $813.3M | $525.3M | $245.4M | $1.06B | $659.8M | $12.7M | $6.2M | -$4.8M | — |
| Pre-tax income | $2.42B | $1.32B | $832.3M | $249.3M | $1.10B | $678.0M | $26.4M | $8.3M | -$3.5M | — |
| Income tax | $522.1M | $305.3M | $194.8M | $145.6M | $274.0M | $5.7M | $1.1M | $765.0K | $304.0K | — |
| Net income | $1.90B | $1.01B | $637.5M | $103.7M | $1.38B | $672.3M | $25.3M | $7.6M | -$3.8M | — |
| EPS, basic | 6.32 | 3.28 | 2.12 | 0.35 | 4.64 | 2.37 | 0.09 | 0.00 | -0.11 | — |
| EPS, diluted | 6.18 | 3.21 | 2.07 | 0.34 | 4.50 | 2.25 | 0.09 | 0.00 | -0.11 | — |
| Shares, diluted (wtd. avg.) | $307.3M | $315.1M | $308.5M | $304.2M | $305.8M | $298.1M | $254.3M | $116.0M | $78.1M | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.27B | $1.35B | $1.56B | $1.10B | $1.07B | $2.29B | $334.1M | $66.0M | $36.8M | $134.7M |
| Short-term investments | $6.54B | $6.44B | $5.40B | $4.33B | $4.36B | $2.00B | $572.1M | $112.8M | — | — |
| Receivables | $497.3M | $495.2M | $536.1M | $557.4M | $419.7M | $294.7M | $120.4M | $63.6M | — | — |
| Total current assets | $8.66B | $8.68B | $7.93B | $6.36B | $6.18B | $4.79B | $1.10B | $276.7M | — | — |
| Property, plant and equipment | $264.5M | $330.5M | $293.7M | $252.8M | $222.4M | $149.9M | $57.1M | $37.3M | — | — |
| Goodwill | $400.4M | $307.3M | $307.3M | $122.6M | $27.6M | $24.3M | $0 | — | — | — |
| Other intangibles | $46.0M | $33.4M | $46.9M | $31.4M | $3.0M | $8.0M | $2.2M | — | — | — |
| Total assets | $11.96B | $10.99B | $9.93B | $8.13B | $7.55B | $5.30B | $1.29B | $354.6M | — | — |
| Accounts payable | $6.3M | $8.3M | $10.2M | $14.4M | $7.8M | $8.7M | $1.6M | $5.0M | — | — |
| Total current liabilities | $2.00B | $1.90B | $1.76B | $1.74B | $1.58B | $1.26B | $333.8M | $152.3M | — | — |
| Total liabilities | $2.15B | $2.05B | $1.91B | $1.92B | $1.77B | $1.44B | $455.9M | $202.5M | — | — |
| Retained earnings | $5.70B | $3.80B | $2.79B | $2.15B | $2.05B | $672.5M | $152.0K | -$25.2M | — | — |
| Total equity | $9.81B | $8.94B | $8.02B | $6.21B | $5.78B | $3.86B | $833.9M | -$7.4M | -$26.7M | -$28.8M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $1.99B | $1.95B | $1.60B | $1.29B | $1.61B | $1.47B | $151.9M | $51.3M | $19.4M | — |
| Depreciation and amortisation | $132.8M | $122.6M | $104.5M | $82.3M | $48.2M | $28.9M | $16.4M | $7.0M | $2.8M | — |
| Stock-based compensation | $760.8M | $931.3M | $1.06B | $1.29B | $477.3M | $275.8M | $73.1M | $8.9M | $10.3M | — |
| Capital expenditure | $65.0M | $136.6M | $127.0M | $103.8M | $132.6M | $80.0M | $38.1M | $28.4M | $9.7M | — |
| Investing cash flow | -$278.9M | -$1.11B | -$1.18B | -$318.3M | -$2.86B | -$1.56B | -$499.5M | -$39.7M | -$113.4M | — |
| Financing cash flow | -$1.81B | -$1.03B | $60.2M | -$936.9M | $34.1M | $2.05B | $615.7M | $17.5M | -$4.0M | — |
| Buybacks | $1.62B | $1.09B | $0 | $1.00B | $0 | $0 | — | — | — | — |
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 0001628280-26-028866.
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