Zoom Communications (ZM) Net Margin (2018 - 2026)
Zoom Communications' (ZM) quarterly Net Margin came in at 54.06% in Q1 2026, up 2299.0% year-on-year from 2.25% in Q1 2025, and up 8.47% on a QoQ basis from 49.83% in Q4 2025.
Zoom Communications (ZM) Net Margin (2018 - 2026) Analysis & Trends
Zoom Communications (ZM) has 9 years of Net Margin data on file, last reported at 54.06% in Q1 2026.
- On a quarterly basis, Net Margin rose 2299.0% year-over-year to 54.06% in Q1 2026; TTM through Jan 2026 was 39.03%, a 1737.0% increase from a year earlier, with the FY2026 full-year figure at 39.03%, up 1737.0% from the prior year.
- Net Margin for Q1 2026 stood at 54.06%, up from 49.83% in the prior quarter.
- Over the last five years, Net Margin for ZM reached as high as 54.06% in Q1 2026 and fell as low as 9.31% in Q1 2023.
- Historically, Net Margin has averaged 20.76% across 5 years, with a median of 18.84% in 2024.
- Across the five-year window, Net Margin plunged 5509 bps in 2023 and surged 3537 bps in 2024, its largest moves.
- Year by year, Net Margin stood at 4.39% in 2022, then soared by 183 bps to 12.42% in 2023, then surged by 42 bps to 17.58% in 2024, then soared by 183 bps to 49.83% in 2025, then increased by 8 bps to 54.06% in 2026.
- Per Business Quant data, the three most recent Net Margin figures were 54.06% in Q1 2026, 49.83% in Q4 2025, and 29.46% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 208.91 Bn | 189.27 Bn | 8.16 Bn | 20.22% |
| 2 | Full Truck Alliance | 188.77 Bn | 186.13 Bn | - | - |
| 3 | Shopify | 145.98 Bn | 140.23 Bn | 1.55 Bn | -18.33% |
| 4 | Uber Technologies | 141.48 Bn | 140.44 Bn | 5.95 Bn | 2.29% |
| 5 | Salesforce | 128.51 Bn | 116.67 Bn | 8.56 Bn | 18.93% |
| 6 | ServiceNow | 98.38 Bn | 93.20 Bn | 2.82 Bn | 7.47% |
| 7 | Automatic Data Processing | 97.56 Bn | 94.34 Bn | 2.87 Bn | 22.90% |
| 8 | Snowflake | 91.55 Bn | 88.59 Bn | 926.45 Mn | -21.25% |
| 9 | Cadence Design Systems | 89.91 Bn | 88.50 Bn | 1.41 Bn | 22.77% |
| 10 | Zoom Communications | 25.28 Bn | 17.46 Bn | 951.29 Mn | 54.06% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | 54.06% |
| Oct 31, 2025 | 49.83% |
| Jul 31, 2025 | 29.46% |
| Apr 30, 2025 | 21.67% |
| Jan 31, 2025 | 31.07% |
| Oct 31, 2024 | 17.58% |
| Jul 31, 2024 | 18.84% |
| Apr 30, 2024 | 18.95% |
| Jan 31, 2024 | 26.07% |
| Oct 31, 2023 | 12.42% |
| Jul 31, 2023 | 15.98% |
| Apr 30, 2023 | 1.40% |
| Jan 31, 2023 | -9.31% |
| Oct 31, 2022 | 4.39% |
| Jul 31, 2022 | 4.16% |
| Apr 30, 2022 | 10.58% |
| Jan 31, 2022 | 45.78% |
| Oct 31, 2021 | 32.38% |
| Jul 31, 2021 | 31.03% |
| Apr 30, 2021 | 23.78% |