Zoom Communications (ZM) Gross Margin (2018 - 2026)
Zoom Communications (ZM) posted quarterly Gross Margin of 76.29% for Q1 2026, up 55.0% year-over-year from 49.22% in Q1 2025, and down 2.07% quarter-over-quarter from 77.9% in Q4 2025.
Zoom Communications (ZM) Gross Margin (2018 - 2026) Analysis & Trends
Zoom Communications (ZM) has reported Gross Margin for 9 consecutive years, with 76.29% the latest figure, recorded in Q1 2026.
- In Q1 2026, Gross Margin rose 55.0% year-over-year to 76.29%; the TTM figure through Jan 2026 stood at 77.02% (up 123.0% YoY), while the FY2026 annual figure was 77.02%, up 123.0% from the prior year.
- Gross Margin eased to 76.29% in Q1 2026 per ZM's latest filing, from 77.9% in the prior quarter.
- Across five years, Gross Margin topped out at 77.9% in Q4 2025 and bottomed at 73.67% in Q1 2023.
- Historically, Gross Margin has averaged 75.99% across 5 years, with a median of 75.98% in 2022.
- Annual changes were most pronounced in 2022 — Gross Margin soared 627 bps — and 2023, when it slumped 231 bps.
- Zoom Communications' Gross Margin stood at 75.44% in 2022, then gained by 1 bps to 76.16% in 2023, then dropped by 0 bps to 75.89% in 2024, then climbed by 3 bps to 77.9% in 2025, then declined by 2 bps to 76.29% in 2026.
- Business Quant data shows ZM's Gross Margin at 76.29% in Q1 2026, 77.9% in Q4 2025, and 77.56% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 73.08% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 47.67% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 76.92% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 44.93% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 70.68% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | 66.61% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 45.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 89.20% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 84.61% |
| 10 | Zoom Communications | 31.31 Bn | 23.50 Bn | 951.29 Mn | 76.29% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | 76.29% |
| Oct 31, 2025 | 77.90% |
| Jul 31, 2025 | 77.56% |
| Apr 30, 2025 | 76.30% |
| Jan 31, 2025 | 75.73% |
| Oct 31, 2024 | 75.89% |
| Jul 31, 2024 | 75.48% |
| Apr 30, 2024 | 76.05% |
| Jan 31, 2024 | 75.90% |
| Oct 31, 2023 | 76.16% |
| Jul 31, 2023 | 76.59% |
| Apr 30, 2023 | 76.12% |
| Jan 31, 2023 | 73.67% |
| Oct 31, 2022 | 75.44% |
| Jul 31, 2022 | 75.11% |
| Apr 30, 2022 | 75.62% |
| Jan 31, 2022 | 75.98% |
| Oct 31, 2021 | 74.21% |
| Jul 31, 2021 | 74.42% |
| Apr 30, 2021 | 72.29% |