Zoom Video Communications, Inc. (ZM) Key Metrics
ZM valuation today
Trailing 12 months · as of October 18, 2026- Market cap
- $27.48B
- Enterprise value
- $19.63B
- P/E (TTM)
- 8.7 10-yr median 34.3
- Forward P/E
- 15.1
- PEG ratio
- 2.52
- Price / sales
- 5.5 10-yr median 5.9
- Price / book
- 2.4 10-yr median 3.7
- EV / EBITDA
- 14.9 10-yr median 36.4
- Dividend yield
- —
- Beta
- 1.03
ZM key metrics, FY2017–FY2026
Fiscal year ended January 31, 2026 · U.S. dollarsZM valuation Price multiples at each fiscal year-end price.
ZM returns How much profit the business earns on the capital it uses.
ZM per-share figures Results divided by the shares outstanding at year-end.
ZM financial health Debt, liquidity and how easily interest is covered.
ZM efficiency & capital use Working capital cycle and where the cash goes.
ZM valuation history
ZM returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
ZM debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
ZM cash returned to shareholders
ZM price vs earnings per share
ZM key metrics
FY2017–FY2026| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $28.31B | $27.39B | $19.93B | $22.82B | $47.18B | $110.92B | $19.40B | — | — | — |
| Enterprise value | $20.55B | $19.66B | $13.04B | $17.50B | $41.87B | $106.79B | $18.62B | — | — | — |
| P/E ratio | 14.9 | 27.1 | 31.3 | 220.0 | 34.3 | 165.0 | 766.8 | — | — | — |
| Price / sales | 5.8 | 5.9 | 4.4 | 5.2 | 11.5 | 41.8 | 31.2 | — | — | — |
| Price / book | 2.9 | 3.1 | 2.5 | 3.7 | 8.2 | 28.7 | 23.3 | — | — | — |
| Price / free cash flow | 14.7 | 15.1 | 13.5 | 19.4 | 32.3 | 80.1 | 170.7 | — | — | — |
| Price / operating cash flow | 14.2 | 14.1 | 12.5 | 17.7 | 29.4 | 75.4 | 127.7 | — | — | — |
| EV / sales | 4.2 | 4.2 | 2.9 | 4.0 | 10.2 | 40.3 | 29.9 | — | — | — |
| EV / EBITDA | 8.0 | 13.7 | 13.9 | 52.8 | 36.4 | 155.1 | 638.9 | — | — | — |
| EV / free cash flow | 10.7 | 10.9 | 8.9 | 14.9 | 28.7 | 77.1 | 163.8 | — | — | — |
| Earnings yield | 6.7% | 3.7% | 3.2% | 0.5% | 2.9% | 0.6% | 0.1% | — | — | — |
| Free cash flow yield | 6.8% | 6.6% | 7.4% | 5.2% | 3.1% | 1.2% | 0.6% | — | — | — |
| Shareholder yield (dividends + buybacks) | 5.7% | 4.0% | 0.0% | 4.4% | 0.1% | 0.0% | 0.0% | — | — | — |
| Share price at fiscal year-end | $92.10 | $86.94 | $64.61 | $75.00 | $154.28 | $372.07 | $76.30 | — | — | — |
| Per share | ||||||||||
| Revenue per share | $15.84 | $14.81 | $14.67 | $14.44 | $13.41 | $8.89 | $2.45 | $1.23 | $0.56 | $0.23 |
| Earnings per share | $6.18 | $3.21 | $2.07 | $0.34 | $4.50 | $2.26 | $0.10 | $0.03 | −$0.01 | −$0.00 |
| Operating cash flow per share | $6.47 | $6.17 | $5.18 | $4.24 | $5.25 | $4.93 | $0.60 | $0.19 | $0.07 | $0.03 |
| Free cash flow per share | $6.26 | $5.74 | $4.77 | $3.86 | $4.77 | $4.65 | $0.45 | $0.08 | $0.04 | $0.02 |
| Cash per share | $25.43 | $24.73 | $22.57 | $17.79 | $17.72 | $14.24 | $3.36 | $0.66 | $0.52 | $0.50 |
| Book value per share | $31.91 | $28.36 | $25.99 | $20.40 | $18.90 | $12.95 | $3.28 | −$0.03 | −$0.10 | $0.49 |
| Tangible book value per share | $30.38 | $27.20 | $24.76 | $19.81 | $18.73 | $12.83 | $3.27 | −$0.03 | −$0.10 | $0.49 |
| Capex per share | $0.21 | $0.43 | $0.41 | $0.38 | $0.48 | $0.29 | $0.15 | $0.11 | $0.04 | $0.02 |
| Debt per share | $0.19 | $0.20 | $0.24 | $0.32 | $0.35 | $0.36 | $0.28 | $0.06 | $0.05 | — |
| Shares outstanding | 307.3M | 315.1M | 308.5M | 304.2M | 305.8M | 298.1M | 254.3M | 268.8M | 268.8M | 268.8M |
| Change in shares outstanding | −2.5% | +2.1% | +1.4% | −0.5% | +2.6% | +17.2% | −5.4% | 0.0% | 0.0% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | 20.3% | 11.9% | 9.0% | 1.7% | 28.5% | 28.6% | 6.1% | — | — | −0.0% |
| Return on invested capital (ROIC) | 54.1% | 53.4% | 39.8% | 18.1% | — | — | — | — | — | — |
| Return on assets (ROA) | 16.6% | 9.7% | 7.1% | 1.3% | 21.4% | 20.4% | 3.1% | 2.7% | −2.0% | −0.0% |
| Return on tangible assets | 16.5% | 9.5% | 6.7% | 1.3% | 18.3% | 12.8% | 2.0% | 2.1% | −1.8% | −0.0% |
| Free cash flow margin | 39.5% | 38.8% | 32.5% | 26.8% | 35.6% | 52.3% | 18.3% | 6.3% | 6.4% | 7.5% |
| Income quality (OCF / net income) | 1.05 | 1.93 | 2.51 | 12.44 | 1.17 | 2.19 | 6.00 | 6.77 | — | — |
| Financial health | ||||||||||
| Total debt | $58.5M | $64.4M | $73.0M | $96.5M | $105.7M | $106.0M | $72.5M | $14.9M | $13.6M | — |
| Cash & short-term investments | $7.82B | $7.79B | $6.96B | $5.41B | $5.42B | $4.24B | $855.2M | $176.4M | $139.2M | $134.3M |
| Net debt | −$7.76B | −$7.73B | −$6.89B | −$5.32B | −$5.31B | −$4.14B | −$782.7M | −$161.5M | −$125.6M | −$134.3M |
| Debt / equity | 0.01 | 0.01 | 0.01 | 0.02 | 0.02 | 0.03 | 0.09 | — | — | — |
| Debt / assets | 0.00 | 0.01 | 0.01 | 0.01 | 0.01 | 0.02 | 0.06 | 0.04 | 0.06 | — |
| Net debt / EBITDA | −3.04 | −5.37 | −7.35 | −16.03 | −4.62 | −6.01 | −26.86 | −12.26 | — | −110.19 |
| Current ratio | 4.33 | 4.56 | 4.50 | 3.66 | 3.91 | 3.80 | 3.28 | 1.82 | 2.67 | 5.26 |
| Quick ratio | 4.33 | 4.56 | 4.27 | 3.53 | 3.71 | 3.61 | 2.93 | 1.64 | 2.47 | 5.26 |
| Interest coverage | — | — | — | 7.3 | 13.0 | 36.3 | 0.9 | — | — | — |
| Working capital | $6.66B | $6.77B | $6.16B | $4.62B | $4.60B | $3.53B | $761.7M | $124.4M | $114.6M | $123.0M |
| Invested capital | $2.05B | $1.21B | $1.13B | $890.4M | $466.5M | −$277.9M | $51.2M | −$169.0M | −$152.3M | −$3.4M |
| Tangible asset value | $9.34B | $8.57B | $7.64B | $6.03B | $5.73B | $3.83B | $831.8M | −$7.4M | −$26.7M | $135.9M |
| Net current asset value | $6.51B | $6.62B | $6.02B | $4.43B | $4.41B | $3.36B | $639.6M | −$85.3M | −$58.5M | $123.0M |
| Graham number | $66.63 | $45.23 | $34.76 | $12.51 | $43.74 | $25.63 | $2.71 | — | — | — |
| Graham net-net per share | $19.65 | $19.39 | $18.33 | $13.22 | $13.48 | $10.57 | $2.15 | −$0.46 | −$0.29 | $0.42 |
| Capital allocation | ||||||||||
| Share buybacks (net) | $1.62B | $1.09B | $4.1M | $1.00B | $40.0M | $0 | $0 | $939,000 | $4.6M | $15.0M |
| Dividends + buybacks / free cash flow | 84.2% | 60.5% | 0.3% | 85.1% | 2.7% | 0.0% | 0.0% | 4.5% | 47.6% | 329.9% |
| Capex / revenue | 1.3% | 2.9% | 2.8% | 2.6% | 3.6% | 3.2% | 6.1% | 9.2% | 6.4% | 7.9% |
| Capex / operating cash flow | 3.3% | 7.0% | 7.9% | 8.9% | 9.1% | 5.8% | 25.2% | 59.3% | 50.1% | 51.5% |
| Capex / depreciation | 0.49 | 1.11 | 1.22 | 1.40 | 3.02 | 2.97 | 2.32 | 4.35 | 3.50 | 3.96 |
| Stock-based compensation / revenue | 15.6% | 20.0% | 23.4% | 29.3% | 11.6% | 10.4% | 11.7% | 2.7% | 6.8% | 1.7% |
| R&D / revenue | 17.4% | 18.3% | 17.7% | 17.6% | 8.9% | 6.2% | 10.8% | 10.0% | 10.4% | 15.2% |
| SG&A / revenue | 36.6% | 40.1% | 46.8% | 51.7% | 39.5% | 37.9% | 68.7% | 69.7% | 72.5% | 64.3% |
| Efficiency | ||||||||||
| Days sales outstanding | 37.2 | 40.3 | 44.1 | 40.6 | 31.8 | 28.6 | 53.9 | 48.7 | 41.5 | 59.3 |
| Days of inventory on hand | — | — | 106.1 | 90.5 | 98.6 | 80.7 | 224.9 | 120.7 | 82.3 | 0.0 |
| Days payables outstanding | 2.4 | 3.0 | 4.2 | 3.7 | 2.9 | 2.3 | 10.4 | 23.0 | 24.9 | 43.2 |
| Cash conversion cycle (days) | 34.8 | 37.4 | 146.1 | 127.4 | 127.6 | 107.0 | 268.5 | 146.4 | 98.9 | 16.2 |
| Receivables turnover | 9.81 | 9.05 | 8.28 | 8.99 | 11.48 | 12.77 | 6.77 | 7.50 | 8.80 | 6.15 |
| Payables turnover | 153.16 | 121.99 | 87.67 | 98.89 | 127.79 | 160.23 | 35.19 | 15.87 | 14.66 | 8.46 |
| Inventory turnover | — | — | 3.44 | 4.04 | 3.70 | 4.52 | 1.62 | 3.02 | 4.43 | 12,472,000.00 |
| Asset turnover | 0.42 | 0.45 | 0.50 | 0.56 | 0.64 | 0.80 | 0.76 | 1.16 | 0.80 | 0.37 |
| Average receivables | $496.3M | $515.7M | $546.7M | $488.5M | $357.2M | $207.6M | $92.0M | $44.1M | $17.2M | $9.9M |
| Average payables | $7.3M | $9.3M | $12.3M | $11.1M | $8.3M | $5.1M | $3.3M | $3.8M | $2.1M | $1.5M |
| Average inventory | — | — | $313.4M | $272.7M | $285.0M | $181.8M | $71.1M | $20.2M | $6.9M | $1 |
| Intangibles / total assets | 3.9% | 3.3% | 3.8% | 2.2% | 0.7% | 0.7% | 0.2% | 0.0% | 0.0% | 0.0% |
Computed from ZM's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
ZM valuation and financial ratios
At the end of fiscal 2026 (January 31, 2026), Zoom Video Communications traded at 14.9 times earnings, against a 10-year median of 34.3. Based on the latest twelve months, the trailing P/E is 8.7 and the forward P/E is 15.1. Zoom Video Communications earned a return on equity of 20.3% and a return on invested capital of 54.1% in fiscal 2026. It ended the year with $58.5 million of debt and $7.8 billion in cash and short-term investments, a net cash position of $7.8 billion. It returned $1.6 billion to shareholders: $0 in dividends and $1.6 billion in share buybacks, 84% of free cash flow. The share count rose 14.3% from 268.8M to 307.3M over 9 years.
See the ZM income statement, the ZM chart for price history, or the ZM stock overview for the latest quote and news.
ZM key metrics FAQ
What is Zoom Video Communications's P/E ratio?
Zoom Video Communications's trailing P/E ratio is 8.7 based on the last twelve months of earnings (as of October 18, 2026), and its forward P/E is 15.1. At the end of fiscal 2026 it was 14.9, compared with a 10-year median of 34.3.
What is Zoom Video Communications's EV/EBITDA?
Zoom Video Communications's enterprise value was 8.0 times EBITDA at the end of fiscal 2026 (enterprise value $20.5 billion, EBITDA $2.6 billion); the current EV/EBITDA is 14.9.
What is Zoom Video Communications's return on equity?
Zoom Video Communications's return on equity (ROE) was 20.3% in fiscal 2026: net income of $1.9 billion on average shareholders' equity of $9.4 billion.
What is Zoom Video Communications's ROIC?
Zoom Video Communications's return on invested capital was 54.1% in fiscal 2026, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Zoom Video Communications have?
Zoom Video Communications had total debt of $58.5 million at the end of fiscal 2026, a debt-to-equity ratio of 0.01 and more cash than debt.
Does Zoom Video Communications buy back its shares?
Yes. Zoom Video Communications spent $1.6 billion on net share repurchases in fiscal 2026 Shares outstanding changed −2.5% over the year, to 307.3M..
What is Zoom Video Communications's free cash flow yield?
Zoom Video Communications generated $1.9 billion of free cash flow in fiscal 2026, a free cash flow yield of 6.8% on its market value at year-end ($28.3 billion).
What is Zoom Video Communications's current ratio?
Zoom Video Communications's current ratio was 4.33 at the end of fiscal 2026: current assets were 4.33 times current liabilities.