Zoom Communications, Inc. (ZM) intrinsic value & 10-year financials
Zoom Communications, Inc. (ZM) has a Graham intrinsic value of $205.27 per share. At $94.19 on Oct 17, 2026, the stock trades 54% below that value. Over the last 10 fiscal years revenue grew 54.3% a year to $4.9B, with an average return on invested capital of 11.6%.
- Graham intrinsic value
- $205.27
- Share price (Oct 17, 2026)
- $94.19
- Price vs Graham value
- 54% below
- Market cap
- $28.9B
- Revenue (FY2026)
- $4.9B
- Revenue growth (10-yr CAGR)
- 54.3%
- ROIC (10-yr avg)
- 11.6%
- Free cash flow (FY2026)
- $1.9B
ZM 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2026 | $4.9B | $1.9B | $6.18 | $1.9B | 23.1% | 10.9% |
| FY2025 | $4.7B | $1.0B | $3.21 | $1.8B | 17.4% | 8.8% |
| FY2024 | $4.5B | $637.5M | $2.07 | $1.5B | 11.6% | 6.9% |
| FY2023 | $4.4B | $103.7M | $0.34 | $1.2B | 5.6% | 2.5% |
| FY2022 | $4.1B | $1.4B | $4.50 | $1.5B | 25.9% | 32.7% |
| FY2021 | $2.7B | $672.3M | $2.25 | $1.4B | 24.9% | 56.2% |
| FY2020 | $622.7M | $25.3M | $0.09 | $113.8M | 2.0% | 2.0% |
| FY2019 | $330.5M | $7.6M | $0.00 | $22.9M | 1.9% | -32.8% |
| FY2018 | $151.5M | -$3.8M | -$0.11 | $9.7M | -3.2% | 17.4% |
| FY2017 | — | — | — | — | — | — |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Zoom Communications, Inc. revenue growth over the past decade is N/A; insufficient history prevents a reliable 10-year CAGR calculation.
Zoom Communications, Inc. returns on capital have been average, hovering around 11.6% ROIC over the decade.
Zoom Communications, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Zoom Communications, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $205.27 per share.