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Zoom Communications

ZM Nasdaq Application Software Financials FY2018–FY2026

Zoom sells communication and collaboration software. Its main package, Zoom Workplace, brings together Zoom Meetings, Zoom Phone, Zoom Team Chat, Zoom Docs and Zoom Whiteboard, with an AI assistant called AI Companion. A second group, Zoom Business Services, is aimed at sales, marketing and customer service teams and includes Zoom Contact Center, Zoom Revenue Accelerator and Zoom Events. Its customers range from entrepreneurs to global companies.

Add to portfolio Download report

Last close Β· Oct 26, 2026

$98.04

2.4%
Value it Compare

What Zoom Communications does

ZM Β· Application Software

From its latest annual report

Zoom sells communication and collaboration software. Its main package, Zoom Workplace, brings together Zoom Meetings, Zoom Phone, Zoom Team Chat, Zoom Docs and Zoom Whiteboard, with an AI assistant called AI Companion. A second group, Zoom Business Services, is aimed at sales, marketing and customer service teams and includes Zoom Contact Center, Zoom Revenue Accelerator and Zoom Events. Its customers range from entrepreneurs to global companies.

Zoom makes its money from subscriptions to its platform. It also sells Workvivo, an employee communication tool, as a monthly subscription with optional add-ons for an extra fee. Outside developers can build apps and integrations that use Zoom through its Developer Platform and App Marketplace.

Zoom says it spent fiscal 2026, which ended January 31, 2026, building more AI into its products, and it is adding AI agents to AI Companion. It says it competes in markets that are competitive, and that other large established companies may also invest in video communications tools.

Filing details

Legal name
Zoom Communications, Inc.
Fiscal year ends
January 31, 2026
Latest annual report
10-K Β· Feb 27, 2026
Accession Β· CIK
0001585521-26-000030 Β· 0001585521
Biggest risks, in its own words

Earnings calendar Β· Zoom Communications

Every quarter, companies publish how much they sold and earned. These are the days Zoom Communications did it, and the next one. Share prices often move a lot on those days.

Next results

November 23, 2026

Monday Β· in 28 days

Time
Time not announced
Covers
Period ended Oct 31, 2026
Expected EPS
$1.01
Source
Earnings calendar
See who else reports that week β†’
Date Results for Time Source
Aug 25, 2026 Q2 '27 After the market closes 8-K β†—
May 21, 2026 Q1 '27 After the market closes 8-K β†—
Feb 25, 2026 Q4 '26 After the market closes 8-K β†—
Nov 24, 2025 Q3 '26 After the market closes 8-K β†—
Aug 21, 2025 Q2 '26 After the market closes 8-K β†—
May 21, 2025 Q1 '26 After the market closes 8-K β†—
Feb 24, 2025 Q4 '25 After the market closes 8-K β†—
Nov 25, 2024 Q3 '25 After the market closes 8-K β†—

From SEC filings: the results press release (8-K) or, without one, the quarterly or annual report.

KIRA’s summary AI analyst

Hi! I read Zoom Communications’s latest annual report (fiscal 2026). Here is what stands out:

6 strengths

1.Sales and profit

See section β†’
  • Zoom Communications had $4.9B of revenue in fiscal 2026, up 4.4% on the year before. Over five years, revenue changed +12.9% a year on average.
  • Its operating margin was 23.1%, up 5.6Β pts: of every 100 in sales, about 23 is left after running the business.
  • Zoom Communications made $1.9B of net profit in fiscal 2026.

2.Cash and shareholders

See section β†’
  • Free cash flow was $1.9B in fiscal 2026, 39.5% of revenue.
  • Zoom Communications returned $1.6B to shareholders in fiscal 2026, 84% of free cash flow. The diluted share count fell 2.5%.
  • In the last 12 months, insiders sold $84.0M of shares on the open market and bought none.

3.Financial health

See section β†’
  • Zoom Communications has $7.8B more cash than debt.
  • Its return on capital was 56.2%: every 100 invested in the business earned about 56 in a year.
  • Zoom Communications passes 6 of 9 financial health tests (Piotroski F-score).

4.Price and value

See section β†’
  • At $98.04 a share, the company is worth $29.4B: 9.1 times its earnings of the last four quarters.
  • Zoom Communications grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 0 of 2.

Biggest risks, in its own words

  • Failing to attract new customers and to keep and grow business with existing ones.
  • Outages or delays in the data centers and cloud hosting services it uses to run its platform.
  • Strong competition, including from large companies that invest in video tools.
  • Slowing revenue growth, and results that can swing a lot from period to period.
  • Using generative AI in its products, which may bring operational, legal and reputation problems.

Zoom Communications in 30 seconds

Good So-so Weak

So-so

Are sales growing?

+4.4%

Only a little. Sales grew 4.4% last year.

Good

Does it make a profit?

39.0%

Yes. It keeps 39.0% of every sale as profit.

Good

Does profit turn into cash?

39.5%

Yes. 39.5% of sales ends up as free cash.

Good

Is debt under control?

Net cash

Yes. It has more cash than debt.

So-so

How healthy are the accounts?

6 / 9

Mixed. It passes 6 of 9 health tests.

For information

How is the share priced?

9.1x

One share costs 9.1 times its yearly profit per share. Typical for its sector: 33.5x.

Rules of thumb on reported numbers. A starting point, not a recommendation.

Key numbers, fiscal 2026

Market cap Last close times the latest diluted share count, so it is approximate.
$29.4B
Oct 26 close
P/E Last close divided by diluted earnings per share over the last four quarters.
9.1x
On $10.79 EPS (TTM)

Revenue

Total sales reported in the income statement.

KIRA Β· Zoom Communications had $4.9B of revenue in fiscal 2026, up 4.4% on the year before. Over five years, revenue changed +12.9% a year on average.

See the full section β†’

Operating margin

Operating income as a share of revenue.

KIRA Β· Its operating margin was 23.1%, up 5.6Β pts: of every 100 in sales, about 23 is left after running the business.

See the full section β†’

Net income

Profit after all expenses, interest and tax.

KIRA Β· Zoom Communications made $1.9B of net profit in fiscal 2026.

See the full section β†’

Free cash flow

Cash from operations minus capital spending.

KIRA Β· Free cash flow was $1.9B in fiscal 2026, 39.5% of revenue.

See the full section β†’

Return on capital

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

KIRA Β· Its return on capital was 56.2%: every 100 invested in the business earned about 56 in a year.

See the full section β†’
Charts by

Sales and profit

Is it selling more, and how much does it keep?

Revenue and margins

KIRA Β· Zoom Communications had $4.9B of revenue in fiscal 2026, up 4.4% on the year before. Over five years, revenue changed +12.9% a year on average. Its operating margin was 23.1%, up 5.6Β pts: of every 100 in sales, about 23 is left after running the business.

In plain words: Revenue is all the money customers paid. The margins show how many cents of each dollar of sales are left over at each step: after making the product (gross), after running the business (operating) and after everything, tax included (net).

Revenue

Revenue

Margins, % of revenue

Gross Operating Net FCF

Margins, % of revenue

Gross Operating Net FCF

Net income and earnings per share

KIRA Β· Zoom Communications made $1.9B of net profit in fiscal 2026.

Loss periods are shown in red.

In plain words: Net income is the profit left after every cost and tax. Earnings per share (EPS) splits that profit across every share, so it shows what one share earned.

Net income

Net income

Diluted EPS

Diluted EPS

Cash and shareholders

How much cash comes in, and where does it go?

Cash flow

KIRA Β· Free cash flow was $1.9B in fiscal 2026, 39.5% of revenue.

Cash from operations minus capital spending.

In plain words: Profit on paper is not the same as cash in the bank. Free cash flow is the cash left after paying to run and maintain the business: the money it can hand back to shareholders, save or invest.

Free cash flow

Free cash flow

Cash from operations vs capital spending

Cash from operations Capital spending

Cash from operations vs capital spending

Cash from operations Capital spending

Dividends, buybacks and share count

KIRA Β· Zoom Communications returned $1.6B to shareholders in fiscal 2026, 84% of free cash flow. The diluted share count fell 2.5%.

In plain words: Companies hand cash back in two ways: dividends (cash paid to shareholders) and buybacks (buying back their own shares, so each remaining share owns a bigger slice).

Dividends and buybacks

Dividends Buybacks

Dividends and buybacks

Dividends Buybacks

Diluted shares outstanding (annual)

Insider trades

KIRA Β· In the last 12 months, insiders sold $84.0M of shares on the open market and bought none.

Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. β€œPlan” marks trades under a pre-arranged Rule 10b5-1 plan.

In plain words: Insiders are the people who run or own a big part of the company. Buying with their own money can signal confidence; selling often has personal reasons, like taxes or diversifying.

Bought, 12 months

$0.0M

0 insiders

Sold, 12 months

$84.0M

6 insiders

Of sales under plans

100%

$84.0M

DateInsiderTradeSharesPriceValueFiling
Oct 22, 2026 Santiago SubotovskyDirector Sold plan 20 $100.43 $0.0M Form 4
Oct 21, 2026 Santiago SubotovskyDirector Sold plan 3,812 $100.56 $0.4M Form 4
Oct 21, 2026 Michelle ChangChief Financial Officer Sold plan 10,156 $101.93 $1.0M Form 4
Oct 21, 2026 Herbert Raymond McMasterDirector Sold plan 1,500 $101.25 $0.2M Form 4
Oct 15, 2026 Santiago SubotovskyDirector Sold plan 717 $96.63 $0.1M Form 4
Oct 12, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 7,645 $99.26 $0.8M Form 4
Oct 12, 2026 Michelle ChangChief Financial Officer Sold plan 8,489 $99.46 $0.8M Form 4
Oct 8, 2026 Herbert Raymond McMasterDirector Sold plan 3,000 $94.71 $0.3M Form 4
Oct 6, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $94.07 $1.1M Form 4
Oct 5, 2026 Santiago SubotovskyDirector Sold plan 2,637 $93.74 $0.2M Form 4
Oct 5, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $93.74 $1.1M Form 4
Sep 10, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 2,590 $95.81 $0.2M Form 4
Sep 8, 2026 Santiago SubotovskyDirector Sold plan 2,637 $96.63 $0.3M Form 4
Sep 2, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $95.82 $1.2M Form 4
Sep 1, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $95.34 $1.2M Form 4
Aug 6, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $100.20 $1.2M Form 4
Aug 5, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $100.17 $1.2M Form 4
Aug 4, 2026 Santiago SubotovskyDirector Sold plan 7,911 $101.33 $0.8M Form 4
Jul 15, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 7,644 $91.98 $0.7M Form 4
Jul 14, 2026 Herbert Raymond McMasterDirector Sold plan 5 $88.83 $0.0M Form 4
Jul 14, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $90.66 $1.1M Form 4
Jul 13, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 45,724 $91.68 $4.2M Form 4
Jul 10, 2026 Michelle ChangChief Financial Officer Sold plan 8,489 $90.80 $0.8M Form 4
Jul 1, 2026 Santiago SubotovskyDirector Sold plan 2,637 $90.15 $0.2M Form 4
Jun 15, 2026 Michelle ChangChief Financial Officer Sold plan 327 $93.83 $0.0M Form 4
Jun 3, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $106.49 $1.3M Form 4
Jun 2, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $111.61 $1.4M Form 4
Jun 1, 2026 Santiago SubotovskyDirector Sold plan 5,274 $109.78 $0.6M Form 4
May 5, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $108.23 $1.3M Form 4
May 4, 2026 Santiago SubotovskyDirector Sold plan 5,274 $106.58 $0.6M Form 4
May 4, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $106.60 $1.3M Form 4
May 1, 2026 Santiago SubotovskyDirector Sold plan 2,643 $102.86 $0.3M Form 4
Apr 17, 2026 Aparna BawaChief Operating Officer Sold plan 12,886 $87.62 $1.1M Form 4
Apr 16, 2026 Santiago SubotovskyDirector Sold plan 5,031 $87.32 $0.4M Form 4
Apr 15, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 7,645 $85.44 $0.7M Form 4
Apr 14, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 15,273 $82.23 $1.3M Form 4
Apr 13, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 69,923 $81.22 $5.7M Form 4
Apr 10, 2026 Michelle ChangChief Financial Officer Sold plan 8,489 $81.32 $0.7M Form 4
Mar 10, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 2,590 $78.24 $0.2M Form 4
Mar 4, 2026 Santiago SubotovskyDirector Sold plan 2,475 $77.42 $0.2M Form 4
Feb 5, 2026 Santiago SubotovskyDirector Sold plan 2,475 $90.39 $0.2M Form 4
Feb 3, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $89.31 $1.1M Form 4
Feb 2, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $93.01 $1.1M Form 4
Jan 16, 2026 Aparna BawaChief Operating Officer Sold plan 12,137 $81.36 $1.0M Form 4
Jan 14, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 12,100 $83.46 $1.0M Form 4
Jan 13, 2026 Eric S. YuanChief Executive Officer, Director Sold plan 47,369 $83.65 $4.0M Form 4
Jan 12, 2026 Velchamy SankarlingamPres. of Engineering & Product Sold plan 7,568 $86.55 $0.7M Form 4
Jan 12, 2026 Michelle ChangChief Financial Officer Sold plan 8,417 $86.54 $0.7M Form 4
Jan 5, 2026 Santiago SubotovskyDirector Sold plan 2,475 $86.01 $0.2M Form 4
Dec 16, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $87.29 $6.4M Form 4
Dec 15, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $87.05 $6.4M Form 4
Dec 10, 2025 Velchamy SankarlingamPres. of Engineering & Product Sold plan 2,595 $87.84 $0.2M Form 4
Dec 4, 2025 Santiago SubotovskyDirector Sold plan 2,475 $86.06 $0.2M Form 4
Nov 18, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $81.27 $6.0M Form 4
Nov 17, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $82.73 $6.1M Form 4
Nov 4, 2025 Santiago SubotovskyDirector Sold plan 2,475 $84.15 $0.2M Form 4
Nov 4, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $84.16 $6.2M Form 4
Nov 3, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $86.15 $6.3M Form 4
Oct 23, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,378 $82.85 $6.1M Form 4
Oct 22, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 73,383 $82.65 $6.1M Form 4
Oct 16, 2025 Aparna BawaChief Operating Officer Sold plan 10,528 $79.77 $0.8M Form 4
Oct 13, 2025 Eric S. YuanChief Executive Officer, Director Sold plan 33,692 $79.76 $2.7M Form 4
Oct 10, 2025 Velchamy SankarlingamPres. of Engineering & Product Sold plan 7,660 $82.00 $0.6M Form 4
Oct 10, 2025 Michelle ChangChief Financial Officer Sold plan 33,956 $81.99 $2.8M Form 4
Oct 6, 2025 Santiago SubotovskyDirector Sold plan 2,475 $80.78 $0.2M Form 4

Financial health

Can it carry its debts, and how well does it use its money?

Balance sheet

KIRA Β· Zoom Communications has $7.8B more cash than debt.

Cash, debt and the ratios that show how comfortably Zoom Communications can carry it.

In plain words: What the company owns and what it owes. More cash than debt is a cushion for bad times; a lot of debt leaves less room when business slows down.

Cash vs debt (incl. leases)

Cash Debt
Fiscal year endFY22FY23FY24FY25FY26
Cash and short-term investments $5.4B$5.4B$7.0B$7.8B$7.8B
Debt incl. finance leases $0.0M$0.0M$0.0M$0.0M$0.0M
Net debt / EBITDA βˆ’4.9xβˆ’16.5xβˆ’11.1xβˆ’8.3xβˆ’6.2x
Debt / equity 0.0x0.0x0.0x0.0x0.0x
Current ratio 3.9x3.7x4.5x4.6x4.3x
Quick ratio 3.9x3.7x4.5x4.6x4.3x
Total assets $7.6B$8.1B$9.9B$11.0B$12.0B
Total liabilities $1.8B$1.9B$1.9B$2.1B$2.2B
Shareholders' equity $5.8B$6.2B$8.0B$8.9B$9.8B
Net debt (βˆ’ = net cash) βˆ’$5.4Bβˆ’$5.4Bβˆ’$7.0Bβˆ’$7.8Bβˆ’$7.8B

Returns on capital

KIRA Β· Its return on capital was 56.2%: every 100 invested in the business earned about 56 in a year.

After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.

In plain words: How much profit the business makes on the money put into it. A higher percentage means each dollar invested works harder.

Return on capital, equity and assets (annual)

Return on capital Return on equity Return on assets

Piotroski F-score

KIRA Β· Zoom Communications passes 6 of 9 financial health tests (Piotroski F-score).

Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.

In plain words: Nine yes/no tests of financial health, one point each. A green tick is a pass: 7 to 9 points is solid, 0 to 3 is weak.

TestFY24FY25FY26
Net income is positive βœ“ βœ“ βœ“
Cash from operations is positive βœ“ βœ“ βœ“
Return on assets rose βœ“ βœ“ βœ“
Cash from operations exceeds net income βœ“ βœ“ βœ“
Debt fell relative to assets βœ• βœ• βœ•
Current ratio rose βœ“ βœ“ βœ•
Share count didn't rise βœ• βœ• βœ“
Gross margin rose βœ“ βœ• βœ“
Revenue rose relative to assets βœ• βœ• βœ•
F-score 6 / 95 / 96 / 9
Accruals ratio βˆ’10.7%βˆ’8.9%βˆ’0.8%
Altman Z'' 9.7510.2410.62

Price and value

What does the share cost, and how does it compare?

Value Zoom Communications yourself

KIRA Β· At $98.04 a share, the company is worth $29.4B: 9.1 times its earnings of the last four quarters.

Change the assumptions and see what they imply per share. These are models, not forecasts or price targets β€” the answer depends entirely on what you put in.

In plain words: Move the sliders to try your own guesses about growth. The result is what one share would be worth if those guesses came true. Different guesses give very different answers.

Discounted cash flow

Value per share

β€”

Adds net cash of $7.8B and divides by 307.3M diluted shares. Ten years of cash flows plus a terminal value, discounted to today.

Earnings multiple

Value per share

β€”

Reference multiples: today 8.9x Β· peers 73.8x Β· sector 33.5x.

Similar companies

KIRA Β· Zoom Communications grew sales faster than 1 of its 4 similar companies. Its P/E is higher than 0 of 2.

Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.

In plain words: The same numbers for similar companies, so you can tell whether a figure is high or low for this kind of business.

CompanyMarket capGrowthOp. marginFCF marginROICP/EF-score
Zoom Communications ZM $29.4B 4.4% 23.1% 39.5% 56.2% 9.1x 6
Snowflake SNOW $117.0B 29.2% βˆ’30.6% 23.9% β€” β€” 6 Compare β†’
OpenText OTEX $6.9B 1.5% 20.6% 15.4% 9.0% β€” 9 Compare β†’
Palantir PLTR $510.8B 56.2% 31.6% 46.9% β€” 171.4x 7 Compare β†’
Cadence Design Systems CDNS $88.2B 14.1% 28.2% 30.0% 23.7% 75.1x 5 Compare β†’

All figures

Every number, year by year.

9 years of figures

Amounts in USD. Hover a ratio’s name for its definition.

In plain words: Every number we have, year by year. Download it as a spreadsheet if you want to dig deeper.

Download CSV
Fiscal yearFY18FY19FY20FY21FY22FY23FY24FY25FY26
Income statement
Revenue $152M $331M $623M $2.7B $4.1B $4.4B $4.5B $4.7B $4.9B
Gross profit $121M $270M $507M $1.8B $3.0B $3.3B $3.4B $3.5B $3.7B
Research and development $15.7M $33.0M $67.1M $164M $363M $774M $803M $852M $845M
Operating income βˆ’$4.8M $6.2M $12.7M $660M $1.1B $245M $525M $813M $1.1B
Pretax income βˆ’$3.5M $8.3M $26.4M $678M $1.1B $249M $832M $1.3B $2.4B
Income tax $0.3M $0.8M $1.1M $5.7M βˆ’$274M $146M $195M $305M $522M
Net income βˆ’$3.8M $7.6M $25.3M $672M $1.4B $104M $638M $1.0B $1.9B
Diluted EPS βˆ’$0.11 $0.00 $0.09 $2.25 $4.50 $0.34 $2.07 $3.21 $6.18
Diluted shares 0.08B 0.12B 0.25B 0.30B 0.31B 0.30B 0.31B 0.32B 0.31B
Cash flow
Cash from operations $19.4M $51.3M $152M $1.5B $1.6B $1.3B $1.6B $1.9B $2.0B
Capital expenditure $9.7M $28.4M $38.1M $80.0M $133M $104M $127M $137M $65.0M
Free cash flow $9.7M $22.9M $114M $1.4B $1.5B $1.2B $1.5B $1.8B $1.9B
Depreciation and amortization $2.8M $7.0M $16.4M $28.9M $48.2M $82.3M $105M $123M $133M
Stock-based compensation $10.3M $8.9M $73.1M $276M $477M $1.3B $1.1B $931M $761M
Acquisitions $0.0M $0.0M $0.0M $26.5M $3.5M $121M $205M $0.0M $120M
Share buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $1.0B $0.0M $1.1B $1.6B
Dividends paid $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Dividends and buybacks $0.0M $0.0M $0.0M $0.0M $0.0M $1.0B $0.0M $1.1B $1.6B
Balance sheet
Cash and short-term investments $36.1M $176M $855M $4.2B $5.4B $5.4B $7.0B $7.8B $7.8B
Total debt β€” $14.9M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Finance lease liabilities $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Current assets β€” $277M $1.1B $4.8B $6.2B $6.4B $7.9B $8.7B $8.7B
Current liabilities β€” $152M $334M $1.3B $1.6B $1.7B $1.8B $1.9B $2.0B
Inventory $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M $0.0M
Property and equipment, net β€” $37.3M $57.1M $150M $222M $253M $294M $331M $265M
Total assets β€” $355M $1.3B $5.3B $7.6B $8.1B $9.9B $11.0B $12.0B
Total liabilities β€” $203M $456M $1.4B $1.8B $1.9B $1.9B $2.1B $2.2B
Shareholders' equity βˆ’$26.7M βˆ’$7.4M $834M $3.9B $5.8B $6.2B $8.0B $8.9B $9.8B
Margins
Gross margin 79.7% 81.5% 81.5% 69.0% 74.3% 75.0% 76.2% 75.8% 77.0%
Operating margin βˆ’3.2% 1.9% 2.0% 24.9% 25.9% 5.6% 11.6% 17.4% 23.1%
EBITDA margin βˆ’1.4% 4.0% 4.7% 26.0% 27.1% 7.5% 13.9% 20.1% 25.8%
Net margin βˆ’2.5% 2.3% 4.1% 25.4% 33.6% 2.4% 14.1% 21.7% 39.0%
FCF margin 6.4% 6.9% 18.3% 52.5% 35.9% 27.0% 32.5% 38.8% 39.5%
Returns
Return on capital β€” β€” β€” β€” β€” β€” 43.5% 56.8% 56.2%
Return on capital employed β€” β€” 2.2% 26.4% 21.3% 4.0% 7.2% 9.4% 11.8%
Return on equity β€” β€” 6.1% 28.6% 28.5% 1.7% 9.0% 11.9% 20.3%
Return on assets β€” β€” 3.1% 20.4% 21.4% 1.3% 7.1% 9.7% 16.6%
Growth
Revenue growth β€” 118.2% 88.4% 325.8% 54.6% 7.2% 3.1% 3.1% 4.4%
Net income growth β€” β€” 233.7% 2,556.9% 104.6% βˆ’92.5% 514.7% 58.5% 88.1%
EPS growth β€” β€” β€” 2,400.0% 100.0% βˆ’92.4% 508.8% 55.1% 92.5%
FCF growth β€” 136.4% 397.0% 1,122.4% 5.9% βˆ’19.4% 24.1% 22.9% 6.4%
Share count change β€” 48.5% 119.2% 17.2% 2.6% βˆ’0.5% 1.4% 2.1% βˆ’2.5%
Financial health
Net debt / EBITDA β€” βˆ’12.3x βˆ’29.3x βˆ’6.2x βˆ’4.9x βˆ’16.5x βˆ’11.1x βˆ’8.3x βˆ’6.2x
Debt / equity β€” β€” 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x 0.0x
Current ratio β€” 1.8x 3.3x 3.8x 3.9x 3.7x 4.5x 4.6x 4.3x
Quick ratio β€” 1.8x 3.3x 3.8x 3.9x 3.7x 4.5x 4.6x 4.3x
Capital allocation
Capex / revenue 6.4% 8.6% 6.1% 3.0% 3.2% 2.4% 2.8% 2.9% 1.3%
Stock comp / revenue 6.8% 2.7% 11.7% 10.4% 11.6% 29.3% 23.4% 20.0% 15.6%
Payouts / FCF 0.0% 0.0% 0.0% 0.0% 0.0% 84.3% 0.0% 60.5% 84.2%
Quality scores
Piotroski F-score β€” β€” β€” 6.0 5.0 5.0 6.0 5.0 6.0
Altman Z'' β€” 2.2 5.9 8.5 9.3 8.2 9.8 10.2 10.6
Accruals ratio β€” β€” βˆ’15.4% βˆ’24.3% βˆ’3.6% βˆ’15.1% βˆ’10.7% βˆ’8.9% βˆ’0.8%

Source: SEC EDGAR XBRL filings (CIK 0001585521). Data updated October 11, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only β€” not investment advice. Check the original filings before relying on any figure.

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