Zoom Communications (ZM) Operating Margin (2018 - 2026)
Zoom Communications' Operating Margin came in at 24.61% for fiscal Q2 2027 (quarter ended Jul 31, 2026), down 1.82 percentage points from 26.43% a year earlier.
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Analysis
Zoom Communications (ZM) Operating Margin (2018 - 2026) Analysis & Trends
Over the trailing twelve months to Jul 31, 2026, Zoom Communications reported Operating Margin of 24.07%, up 3.63 percentage points year-over-year; for FY2026 (ended Jan 31, 2026), it came in at 23.08%, up 5.65 percentage points from FY2025.
- Operating Margin has increased in each of the last three fiscal years, though with a five-year change of -1.81 percentage points (FY2021 to FY2026).
- Going back by fiscal year, Operating Margin was 17.43% in FY2025 (+5.83 pp), 11.60% in FY2024 (+6.02 pp), 5.59% in FY2023 (-20.36 pp) and 25.94% in FY2022 (+1.06 pp).
- The five-year range for quarterly Operating Margin is -11.62% (fiscal Q4 2023) to 27.68% (fiscal Q3 2022).
- Year-over-year, Operating Margin increased in six of the last seven quarters, with an average year-over-year change of +3.67 percentage points.
- The fastest year-over-year change in Operating Margin over five years came in fiscal Q4 2024 (a gain of 26.32 percentage points), and the weakest in fiscal Q4 2023 (a drop of 35.12 percentage points).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Adobe | 90.32 Bn | 65.57 Bn | 6.00 Bn | 34.82% |
| 2 | Atlassian | 46.45 Bn | 39.73 Bn | 1.53 Bn | 11.93% |
| 3 | Twilio | 44.08 Bn | 34.07 Bn | 725.87 Mn | 5.64% |
| 4 | Autodesk | 43.30 Bn | 31.34 Bn | 1.87 Bn | 29.28% |
| 5 | Zoom Communications | 25.52 Bn | -5.27 Bn | 985.50 Mn | 24.61% |
| 6 | Figma | 10.74 Bn | 4.24 Bn | 309.61 Mn | -31.69% |
| 7 | Dropbox | 7.01 Bn | 2.65 Bn | 506.50 Mn | 26.10% |
| 8 | Nice | 6.59 Bn | 5.06 Bn | 995.81 Mn | 14.88% |
| 9 | RingCentral | 6.37 Bn | 5.87 Bn | 472.31 Mn | 7.65% |
| 10 | Open Text | 5.38 Bn | 813.39 Mn | 1.01 Bn | 23.70% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2026 | 24.61% |
| Jan 31, 2026 | 20.04% |
| Oct 31, 2025 | 25.24% |
| Jul 31, 2025 | 26.43% |
| Apr 30, 2025 | 20.57% |
| Jan 31, 2025 | 19.01% |
| Oct 31, 2024 | 15.53% |
| Jul 31, 2024 | 17.41% |
| Apr 30, 2024 | 17.79% |
| Jan 31, 2024 | 14.70% |
| Oct 31, 2023 | 14.90% |
| Jul 31, 2023 | 15.60% |
| Apr 30, 2023 | 0.88% |
| Jan 31, 2023 | -11.62% |
| Oct 31, 2022 | 6.04% |
| Jul 31, 2022 | 11.07% |
| Apr 30, 2022 | 17.42% |
| Jan 31, 2022 | 23.50% |
| Oct 31, 2021 | 27.68% |
| Jul 31, 2021 | 28.84% |
API Access
Zoom Communications Operating Margin API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-margin&ticker=ZM&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "ticker": "ZM", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-margin&ticker=ZM&period=max&api_key=YOUR_API_KEY");
const data = await res.json();