Zeta Global Holdings Corp. key statistics and ratios

In fiscal 2025, Zeta Global Holdings Corp. had return on equity of -4.3%, an operating margin of 0.4%, debt equal to 24.9% of equity and a current ratio of 1.60. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Zeta Global Holdings Corp.: financial ratios, annual
Fiscal year	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMJun 2026
Gross margin	63.9%	59.6%	61.9%	63.5%	62.3%	60.3%	60.6%	59.5%
Operating margin	−5.7%	−2.2%	−54.2%	−43.8%	−23.0%	−6.8%	0.4%	1.6%
Net margin	−12.6%	−14.5%	−54.4%	−47.3%	−25.7%	−6.9%	−2.4%	−0.1%
Free-cash-flow margin	8.9%	9.0%	7.6%	9.5%	9.6%	10.8%	14.2%	14.3%
Return on equity	—	—	—	—	−121.5%	−16.3%	−4.3%	−0.3%
Return on assets	—	−18.6%	−73.0%	−64.7%	−36.9%	−8.4%	−2.4%	−0.1%
Asset turnover	—	1.29	1.34	1.37	1.43	1.21	1.00	1.06
Current ratio	—	1.36	1.85	1.84	1.76	3.09	1.60	2.38
Debt to equity	—	—	204.4%	144.5%	102.5%	29.6%	24.9%	21.6%
Interest cover (operating income ÷ interest)	n/m	n/m	n/m	n/m	n/m	n/m	14.5x	16.1x
R&D as % of revenue	9.4%	8.6%	14.1%	11.8%	10.1%	9.0%	9.0%	9.4%
Capital spending as % of revenue	1.1%	0.6%	2.1%	3.8%	2.8%	2.6%	1.1%	1.1%

US$ thousands unless shown otherwise. Fiscal quarters.

Zeta Global Holdings Corp.: financial ratios, quarterly
Quarter	2024 Q3Sept 2024	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026
Gross margin	60.6%	60.0%	60.9%	62.1%	60.5%	59.5%	59.0%	59.1%
Operating margin	−4.6%	2.2%	−6.1%	−1.7%	2.6%	4.5%	−4.8%	3.8%
Net margin	−6.5%	4.8%	−8.2%	−4.2%	−1.1%	1.7%	−3.3%	1.8%
Free-cash-flow margin	11.0%	11.3%	12.1%	12.9%	15.6%	15.4%	11.8%	14.5%
Current ratio	3.32	3.09	3.33	3.25	3.01	1.60	2.07	2.38
Debt to equity	41.3%	29.0%	29.0%	29.2%	28.6%	24.5%	22.4%	21.3%
R&D as % of revenue	8.5%	7.7%	10.1%	9.9%	8.8%	7.6%	11.3%	9.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

7 of 7 checks passed · June 30, 2026

What it owns · $1.5bn

Short-term assets $678mLonger-term assets $790m

What it owes, and who funded it · $1.5bn

Short-term liabilities $285mLonger-term liabilities $257mShareholders' equity $926m

Short-term assets cover short-term liabilities $678m of assets due within a year against $285m of liabilities due within a year.
Short-term assets cover long-term liabilities $678m short-term assets against $257m of longer-dated liabilities.
More cash than debt $310m of cash against $197m of debt.
Debt below 40% of shareholders' equity Debt is 21% of equity.
Debt burden no higher than five years ago Debt to equity moved from 203% to 21% over five years.
A year's operating cash flow covers at least 20% of debt $241m of operating cash flow against $197m of debt.
Operating profit covers interest at least five times over Operating income of $25m against $2m of interest.

From Zeta Global Holdings Corp.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

41 /100

Weak moat

How hard Zeta Global Holdings's competitive advantage looks for rivals to wear away, judged from 6 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

Returns on capital 0 / 20

Cash operating profit has been a median -4.4% of total assets over 5 years.
Pricing power 20 / 20

Gross margin has been a median 60.6%, moving by 1.8 percentage points (standard deviation) across 6 years.
Durability 10 / 20

Operating margin has been a median -21.5%; its worst year was -53.2%.
Cash conversion 15 / 20

Free cash flow was positive in 6 of 6 years, at a median 9.9% of revenue.

AI disruption exposure: High. In this industry, the core product is information work that AI systems increasingly perform. The score above includes a 15-point deduction for that exposure (56 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: BSY vs ZETA BILL vs ZETA GWRE vs ZETA

More: Application Software stocks compared, Technology sector, rankings of US companies

Figures from Zeta Global Holdings Corp.'s SEC filings (10-K and 10-Q), retrieved October 26, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Zeta Global Holdings Corp.