Zoom Communications (ZM) Net Margin (2018 - 2026)
Zoom Communications (ZM) posted quarterly Net Margin of 54.06% for Q1 2026, up 2299.0% year-over-year from 2.25% in Q1 2025, and up 8.47% quarter-over-quarter from 49.83% in Q4 2025.
Zoom Communications (ZM) Net Margin (2018 - 2026) Analysis & Trends
Zoom Communications (ZM) has reported Net Margin for 9 consecutive years, with 54.06% the latest figure, recorded in Q1 2026.
- In Q1 2026, Net Margin rose 2299.0% year-over-year to 54.06%; the TTM figure through Jan 2026 stood at 39.03% (up 1737.0% YoY), while the FY2026 annual figure was 39.03%, up 1737.0% from the prior year.
- Net Margin improved to 54.06% in Q1 2026 per ZM's latest filing, from 49.83% in the prior quarter.
- Across five years, Net Margin topped out at 54.06% in Q1 2026 and bottomed at 9.31% in Q1 2023.
- Historically, Net Margin has averaged 20.76% across 5 years, with a median of 18.84% in 2024.
- Annual changes were most pronounced in 2023 — Net Margin slumped 5509 bps — and 2024, when it jumped 3537 bps.
- Zoom Communications' Net Margin stood at 4.39% in 2022, then jumped by 183 bps to 12.42% in 2023, then soared by 42 bps to 17.58% in 2024, then jumped by 183 bps to 49.83% in 2025, then climbed by 8 bps to 54.06% in 2026.
- Business Quant data shows ZM's Net Margin at 54.06% in Q1 2026, 49.83% in Q4 2025, and 29.46% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Net Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Sap Se | 255.48 Bn | 234.41 Bn | 16.51 Bn | 21.16% |
| 2 | Shopify | 198.95 Bn | 194.00 Bn | 1.71 Bn | 41.92% |
| 3 | Salesforce | 160.70 Bn | 148.86 Bn | 8.56 Bn | 18.93% |
| 4 | Uber Technologies | 154.94 Bn | 149.73 Bn | 6.38 Bn | 17.17% |
| 5 | ServiceNow | 128.25 Bn | 123.58 Bn | 2.82 Bn | 7.47% |
| 6 | Snowflake | 114.00 Bn | 111.05 Bn | 926.45 Mn | -21.25% |
| 7 | Automatic Data Processing | 108.58 Bn | 104.35 Bn | 2.51 Bn | 17.88% |
| 8 | Adobe | 105.34 Bn | 99.72 Bn | 5.90 Bn | 25.87% |
| 9 | Intuit | 94.55 Bn | 87.77 Bn | 7.24 Bn | 35.80% |
| 10 | Zoom Communications | 31.31 Bn | 23.50 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% |