Zoom Communications
ZM · NasdaqServices-Computer Programming, Data Processing, Etc. · Fiscal year ends Jan 31
Zoom Communications reported revenue of $4.9B in the fiscal year ended Jan 2026, up 4.4% from the year before. Operating income was $1.1B, an operating margin of 23.1%, and net income was $1.9B. Operating cash flow of $2B less capital expenditure of $65M left free cash flow of $1.9B.
Last 5 fiscal years
Revenue and net income
Income statement
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue | $4.1B | $4.4B | $4.5B | $4.7B | $4.9B |
| Cost of revenue | $1.1B | $1.1B | $1.1B | $1.1B | $1.1B |
| Gross profit | $3B | $3.3B | $3.4B | $3.5B | $3.7B |
| Research & development | $363M | $774M | $803M | $852M | $845M |
| Operating income | $1.1B | $245M | $525M | $813M | $1.1B |
| Pre-tax income | $1.1B | $249M | $832M | $1.3B | $2.4B |
| Income tax | −$274M | $146M | $195M | $305M | $522M |
| Net income | $1.4B | $104M | $637M | $1B | $1.9B |
| Diluted EPS | 4.50 | 0.34 | 2.07 | 3.21 | 6.18 |
| Diluted shares | 306M | 304M | 309M | 315M | 307M |
Balance sheet
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Cash & equivalents | $1.1B | $1.1B | $1.6B | $1.3B | $1.3B |
| Receivables | $420M | $557M | $536M | $495M | $497M |
| Current assets | $6.2B | $6.4B | $7.9B | $8.7B | $8.7B |
| Net PP&E | $222M | $253M | $294M | $330M | $265M |
| Goodwill | $28M | $123M | $307M | $307M | $400M |
| Total assets | $7.6B | $8.1B | $9.9B | $11B | $12B |
| Payables | $8M | $14M | $10M | $8M | $6M |
| Deferred revenue | $1.1B | $1.3B | $1.3B | $1.3B | $1.4B |
| Current liabilities | $1.6B | $1.7B | $1.8B | $1.9B | $2B |
| Total liabilities | $1.8B | $1.9B | $1.9B | $2.1B | $2.2B |
| Shareholders' equity | $5.8B | $6.2B | $8B | $8.9B | $9.8B |
| Backlog (remaining obligations) | $2.6B | $3.4B | $3.6B | $3.8B | $4.2B |
Cash flow
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Operating cash flow | $1.6B | $1.3B | $1.6B | $1.9B | $2B |
| Capital expenditure | $133M | $104M | $127M | $137M | $65M |
| Free cash flow | $1.5B | $1.2B | $1.5B | $1.8B | $1.9B |
| Depreciation & amortisation | $48M | $82M | $104M | $123M | $133M |
| Stock-based compensation | $477M | $1.3B | $1.1B | $931M | $761M |
| Acquisitions | $4M | $121M | $205M | $0 | $120M |
| Share buybacks | $0 | $1B | $0 | $1.1B | $1.6B |
Key ratios
| Fiscal year | Jan 2022 | Jan 2023 | Jan 2024 | Jan 2025 | Jan 2026 |
|---|---|---|---|---|---|
| Revenue growth (YoY) | – | 7.1% | 3.1% | 3.1% | 4.4% |
| Operating income growth (YoY) | – | −76.9% | 114.0% | 54.8% | 38.2% |
| EPS growth (YoY) | – | −92.4% | 508.8% | 55.1% | 92.5% |
| Gross margin | 74.3% | 74.9% | 76.2% | 75.8% | 77.0% |
| Operating margin | 25.9% | 5.6% | 11.6% | 17.4% | 23.1% |
| Net margin | 33.6% | 2.4% | 14.1% | 21.7% | 39.0% |
| Return on equityBlank when equity is negative | 23.8% | 1.7% | 7.9% | 11.3% | 19.4% |
| ROCEEBIT ÷ (assets − current liabilities) | 17.8% | 3.8% | 6.4% | 9.0% | 11.3% |
| Free cash flow margin | 35.9% | 27.0% | 32.5% | 38.8% | 39.5% |
| Cash conversion (CFO ÷ net income) | 1.17x | 12.4x | 2.51x | 1.93x | 1.05x |
| Receivable days | 37 | 46 | 43 | 39 | 37 |
| Payable days | 3 | 5 | 3 | 3 | 2 |
| Current ratio | 3.91x | 3.66x | 4.50x | 4.56x | 4.33x |
Recent filings
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Standardised figures from the company's XBRL filings with the SEC (10-K, 10-Q). Line items follow US GAAP tags, so a company's own statement layout may differ and some lines show “–” where the company does not report that item. Ratios are calculated from these figures. For education only; not investment advice or a recommendation.