Zoom Communications, Inc. financial statements

Income statement, balance sheet and cash flow statement for the last 9 fiscal years, taken from the XBRL data Zoom Communications, Inc. files with the SEC in its annual reports.

In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.

Income statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	151	331	623	2,651	4,100	4,393	4,527	4,665	4,869
Cost of revenue	30.8	61	115	822	1,055	1,100	1,078	1,130	1,119
Gross profit	121	270	507	1,829	3,045	3,293	3,449	3,536	3,750
Research and development	15.7	33	67.1	164	363	774	803	852	845
Selling and marketing	82.7	186	341	685	1,136	1,697	1,541	1,427	1,388
General and administrative	27.1	44.5	86.8	321	483	576	580	443	393
Operating expenses	126	263	495	1,170	1,982	3,047	2,924	2,723	2,626
Operating income	-4.83	6.17	12.7	660	1,064	245	525	813	1,124
Pre-tax income	-3.52	8.35	26.4	678	1,102	249	832	1,316	2,422
Income tax	0.3	0.77	1.06	5.72	-274	146	195	305	522
Net income	-3.82	7.58	25.3	672	1,376	104	637	1,010	1,900
EBITDA	-2.05	13.2	29.1	689	1,112	328	630	936	1,256
EPS, basic	-0.11	0.00	0.09	2.37	4.64	0.35	2.12	3.28	6.32
EPS, diluted	-0.11	0.00	0.09	2.25	4.50	0.34	2.07	3.21	6.18
Shares, basic (weighted)	78.1	84.5	234	284	296	297	301	308	301
Shares, diluted (weighted)	78.1	116	254	298	306	304	309	315	307

Balance sheet

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Cash and equivalents	36.1	63.6	283	2,240	1,063	1,087	1,558	1,349	1,273
Short-term investments		113	572	2,004	4,356	4,326	5,404	6,442	6,544
Receivables		63.6	120	295	420	557	536	495	497
Other current assets		0.99	4.14	5.64	22.7	26.5	24	21.7	20.5
Total current assets		277	1,096	4,793	6,184	6,356	7,926	8,676	8,658
Property, plant and equipment		37.3	57.1	150	222	253	294	330	265
Lease right-of-use assets			68.6	97.6	96	80.9	59	55.9	52.4
Goodwill			0	24.3	27.6	123	307	307	400
Intangible assets			2.16	8	2.97	31.4	46.9	33.4	46
Long-term investments				18.7	368	399	409	591	1,579
Other non-current assets		11.5	22.3	55.8	107	178	133	154	144
Total assets		355	1,290	5,298	7,551	8,128	9,930	10,988	11,960
Accounts payable		4.96	1.6	8.66	7.84	14.4	10.2	8.35	6.27
Accrued liabilities		13.6	17.5	157	150	160	174	200	192
Deferred revenue		115	210	858	1,141	1,267	1,252	1,336	1,411
Total current liabilities		152	334	1,260	1,580	1,739	1,762	1,903	1,999
Lease liabilities			64.8	90.4	85	73.7	48.3	37.4	30.7
Other non-current liabilities		39.5	36.3	61.6	68.1	67.2	81.4	95.4	109
Total liabilities		202	456	1,437	1,771	1,921	1,910	2,053	2,152
Paid-in capital		17.8	833	3,187	3,750	4,105	5,229	5,130	4,100
Retained earnings		-25.2	0.15	672	2,048	2,152	2,789	3,800	5,700
Other comprehensive income		-0.14	0.81	0.84	-17.9	-50.4	1.06	4.99	8.54
Shareholders' equity	-26.7	-7.44	834	3,861	5,780	6,207	8,019	8,935	9,808
Total equity	-26.7	-7.44	834	3,861	5,780	6,207	8,019	8,935	9,808
Total liabilities and equity		355	1,290	5,298	7,551	8,128	9,930	10,988	11,960

Cash flow statement

	FY2018	FY2020	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025	FY2026
Net income	-3.82	7.58	25.3	672	1,376	104	637	1,010	1,900
Depreciation and amortization	2.79	7.01	16.4	28.9	48.2	82.3	104	123	133
Stock-based compensation	10.3	8.94	73.1	276	477	1,286	1,057	931	761
Deferred income tax	0	0	-1.18	0.76	-376	-161	-117	-90.6	105
Change in receivables	-16.6	-41	-64.7	-219	-159	-232	53.3	26.6	2.82
Change in payables	1.25	0.83	-2.03	3.48	-2.22	11.6	-4.42	-3.13	-0.61
Cash from operations	19.4	51.3	152	1,471	1,605	1,290	1,599	1,945	1,989
Capital expenditures	-9.74	-28.4	-38.1	-80	-133	-104	-127	-137	-65
Acquisitions		0	0	-26.5	-3.5	-121	-205	0	-120
Purchases of investments	-143	-78	-800	-2,056	-4,435	-2,849	-4,084	-4,622	-4,825
Sales and maturities of investments		68.7	344	581	1,733	2,835	3,131	3,610	4,064
Cash from investing	-113	-39.7	-499	-1,562	-2,859	-318	-1,184	-1,106	-279
Stock issued	0	-0.94	542	28.6	14.4	8.58	10.2	4.62	2.48
Share buybacks				0	0	-1,000	0	-1,094	-1,621
Cash from financing	-4	17.5	616	2,050	34.1	-937	60.2	-1,028	-1,805
Exchange rate effect				0	0	-8.11	-10.2	-15.2	17.6
Net change in cash	-97.9	29.1	268	1,959	-1,220	26.9	465	-204	-77.6
Free cash flow	9.69	22.9	114	1,391	1,473	1,186	1,472	1,809	1,924
Income taxes paid	0.13	0.21	1.07	3.18	39	309	348	395	422

Key metrics

Worked out from the statements above. Latest values use the trailing twelve months to July 31, 2026; growth uses fiscal years. Valuation uses the share price of $89.71 on September 25, 2026.

Profitability

Metric	Value	How it is calculated
Gross margin	77.3%	Gross profit / revenue.
Operating margin	23.7%	Operating income / revenue.
EBITDA margin	26.2%	EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin	83.8%	Pre-tax income / revenue.
Net margin	65.2%	Net income / revenue.
FCF margin	38.6%	Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin	40.1%	Cash from operations / revenue.
Effective tax rate	22.2%	Income tax / pre-tax income, when pre-tax income is positive.
Return on equity (ROE)	28.8%	Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)	24.0%	Net income / average total assets.
Return on invested capital (ROIC)	8.9%	Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
R&D / revenue	18.1%	Research and development expense / revenue.
Stock-based pay / revenue	14.6%	Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue	1.5%	Capital expenditures / revenue.
D&A / revenue	2.4%	Depreciation and amortization / revenue.

Growth

Metric	Value	How it is calculated
Revenue growth, 1y	4.4%	Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y	3.5%	Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y	12.9%	Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit growth, 1y	6.1%	Gross profit vs the same period a year earlier. Only from a positive base.
Gross profit CAGR, 3y	4.4%	Compound annual growth of gross profit over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Gross profit CAGR, 5y	15.4%	Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating income growth, 1y	38.2%	Operating income vs the same period a year earlier. Only from a positive base.
Operating income CAGR, 3y	66.0%	Compound annual growth of operating income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating income CAGR, 5y	11.2%	Compound annual growth of operating income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EBITDA growth, 1y	34.2%	EBITDA vs the same period a year earlier. Only from a positive base.
EBITDA CAGR, 3y	56.5%	Compound annual growth of ebitda over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EBITDA CAGR, 5y	12.8%	Compound annual growth of ebitda over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Net income growth, 1y	88.1%	Net income vs the same period a year earlier. Only from a positive base.
Net income CAGR, 3y	163.6%	Compound annual growth of net income over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Net income CAGR, 5y	23.1%	Compound annual growth of net income over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
EPS growth, 1y	92.5%	EPS vs the same period a year earlier. Only from a positive base.
EPS CAGR, 3y	162.9%	Compound annual growth of eps over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
EPS CAGR, 5y	22.4%	Compound annual growth of eps over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Operating cash flow growth, 1y	2.2%	Operating cash flow vs the same period a year earlier. Only from a positive base.
Operating cash flow CAGR, 3y	15.5%	Compound annual growth of operating cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Operating cash flow CAGR, 5y	6.2%	Compound annual growth of operating cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Free cash flow growth, 1y	6.4%	Free cash flow vs the same period a year earlier. Only from a positive base.
Free cash flow CAGR, 3y	17.5%	Compound annual growth of free cash flow over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Free cash flow CAGR, 5y	6.7%	Compound annual growth of free cash flow over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y	9.8%	Book value vs the same period a year earlier. Only from a positive base.
Book value CAGR, 3y	16.5%	Compound annual growth of book value over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Book value CAGR, 5y	20.5%	Compound annual growth of book value over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Total assets growth, 1y	8.8%	Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y	13.7%	Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y	17.7%	Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y	-2.5%	Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y	0.3%	Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y	0.6%	Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.

Balance sheet health

Metric	Value	How it is calculated
Current ratio	3.83x	Current assets / current liabilities.
Quick ratio	3.67x	(Cash + short-term investments + receivables) / current liabilities.
Cash ratio	3.42x	(Cash + short-term investments) / current liabilities.
Liabilities / assets	16.8%	Total liabilities / total assets.
Working capital	$5.99B	Current assets - current liabilities.
Goodwill and intangibles / assets	5.0%	(Goodwill + intangible assets) / total assets.
Tangible book value	$10.62B	Shareholders' equity - goodwill - intangible assets.

Efficiency

Metric	Value	How it is calculated
Asset turnover	0.37x	Revenue / average total assets.
Fixed asset turnover	19.6x	Revenue / average property, plant and equipment.
Receivables turnover	9.37x	Revenue / average receivables.
Days sales outstanding	39 days	365 x average receivables / revenue.
Days payables	5 days	365 x average accounts payable / cost of revenue.
FCF conversion	59.2%	Free cash flow / net income, when net income is positive.
Capex / operating cash flow	3.7%	Capital expenditures / cash from operations, when that is positive.

Per share

Metric	Value	How it is calculated
EPS, diluted	$10.86	Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share	$16.66	Revenue / diluted weighted shares.
FCF per share	$6.42	Free cash flow / diluted weighted shares.
Operating cash flow per share	$6.67	Cash from operations / diluted weighted shares.
Book value per share	$37.71	Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Tangible book per share	$35.44	Tangible book value / shares outstanding.
Cash per share	$24.19	(Cash + short-term investments) / shares outstanding.
Buybacks / FCF	75.8%	Share buybacks / free cash flow, when free cash flow is positive.

Valuation

Metric	Value	How it is calculated
Market cap	$26.31B	Share price x shares outstanding.
Enterprise value	$19.06B	Market cap + total debt - cash - short-term investments.
P/E	8.08x	Market cap / net income. Only when net income is positive.
P/S	5.27x	Market cap / revenue.
P/B	2.33x	Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book	2.48x	Market cap / tangible book value, when positive.
P/FCF	13.7x	Market cap / free cash flow. Only when free cash flow is positive.
P/OCF	13.2x	Market cap / cash from operations, when positive.
EV/Sales	3.82x	Enterprise value / revenue.
EV/EBIT	16.1x	Enterprise value / operating income, when both are positive.
EV/EBITDA	14.6x	Enterprise value / EBITDA, when both are positive.
EV/FCF	9.90x	Enterprise value / free cash flow, when both are positive.
FCF yield	7.3%	Free cash flow / market cap.
Earnings yield	12.4%	Net income / market cap (the inverse of P/E).
Shareholder yield	5.5%	(Dividends paid + share buybacks) / market cap.
PEG	0.05x	P/E / EPS growth per year over 3 years (in percent). Only when both are positive.

What was Zoom Communications, Inc.'s revenue in fiscal 2026?

Zoom Communications, Inc. reported revenue of $4.87B for fiscal 2026, 4.4% higher than the year before.

Was Zoom Communications, Inc. profitable in fiscal 2026?

Yes. Net income was $1.90B, a net margin of 39%.

How much free cash flow did Zoom Communications, Inc. generate in fiscal 2026?

Cash from operations of $1.99B minus capital expenditures of $65.0M left free cash flow of $1.92B.

Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.

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