OpenText vs Zoom Communications
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The short version
- OpenText is the larger business, with $5.2B of revenue in fiscal 2026 against $4.9B for Zoom Communications.
- Zoom Communications grew revenue faster (4.4%, against 1.5%).
- Zoom Communications kept more of each dollar of sales as operating profit (23.1% operating margin, against 20.6%).
- Zoom Communications turned more of its sales into free cash flow (39.5% FCF margin, against 15.4%).
- Zoom Communications earned a higher return on the capital invested in it (56.2%, against 9.0%).
| Latest fiscal year | OTEX · FY26 | ZM · FY26 |
|---|---|---|
| Size | ||
| Market cap | $7.0B | $28.7B |
| Revenue | $5.2B | $4.9B |
| Free cash flow | $808M | $1.9B |
| Net income | $643M | $1.9B |
| Growth | ||
| Revenue growth | 1.5% | 4.4% |
| 5-year growth | 9.2% | 12.9% |
| Share count change | −5.4% | −2.5% |
| Profitability | ||
| Gross margin | 73.7% | 77.0% |
| Operating margin | 20.6% | 23.1% |
| Net margin | 12.3% | 39.0% |
| FCF margin | 15.4% | 39.5% |
| Return on capital | 9.0% | 56.2% |
| Return on equity | 16.2% | 20.3% |
| Balance sheet | ||
| Net debt | $4.8B | −$7.8B |
| Net debt / EBITDA | 3.2x | −6.2x |
| Dividends and buybacks | $685M | $1.6B |
| Valuation & quality | ||
| P/E | — | 8.9x |
| Piotroski F-score | 9 | 6 |
Revenue
FY17
OTEX $2.3B
ZM —
FY18
OTEX $2.8B
ZM $152M
FY19
OTEX $2.9B
ZM $331M
FY20
OTEX $3.1B
ZM $623M
FY21
OTEX $3.4B
ZM $2.7B
FY22
OTEX $3.5B
ZM $4.1B
FY23
OTEX $4.5B
ZM $4.4B
FY24
OTEX $5.8B
ZM $4.5B
FY25
OTEX $5.2B
ZM $4.7B
FY26
OTEX $5.2B
ZM $4.9B
OTEX
ZM
Operating margin
FY17
OTEX 15.5%
ZM —
FY18
OTEX 18.0%
ZM −3.2%
FY19
OTEX 19.8%
ZM 1.9%
FY20
OTEX 16.2%
ZM 2.0%
FY21
OTEX 21.9%
ZM 24.9%
FY22
OTEX 18.5%
ZM 25.9%
FY23
OTEX 11.5%
ZM 5.6%
FY24
OTEX 15.4%
ZM 11.6%
FY25
OTEX 17.3%
ZM 17.4%
FY26
OTEX 20.6%
ZM 23.1%
OTEX
ZM
Free cash flow
FY17
OTEX $361M
ZM —
FY18
OTEX $603M
ZM $9.7M
FY19
OTEX $812M
ZM $22.9M
FY20
OTEX $882M
ZM $114M
FY21
OTEX $812M
ZM $1.4B
FY22
OTEX $889M
ZM $1.5B
FY23
OTEX $655M
ZM $1.2B
FY24
OTEX $808M
ZM $1.5B
FY25
OTEX $687M
ZM $1.8B
FY26
OTEX $808M
ZM $1.9B
OTEX
ZM
Return on capital
FY17
OTEX 8.4%
ZM —
FY18
OTEX 5.6%
ZM —
FY19
OTEX 6.6%
ZM —
FY20
OTEX 5.7%
ZM —
FY21
OTEX 5.9%
ZM —
FY22
OTEX 7.9%
ZM —
FY23
OTEX 3.9%
ZM —
FY24
OTEX 5.4%
ZM 43.5%
FY25
OTEX 8.7%
ZM 56.8%
FY26
OTEX 9.0%
ZM 56.2%
OTEX
ZM
Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.