ZETA Technology

Zeta Global Holdings Corp.

$30.97+1.47%

Price as of close on Nov 3, 2026 · Financials updated Oct 1, 2026

Basics

Sector: Technology
Industry: Software - Infrastructure
Country: United States
Market cap: 7.7B USD
Enterprise value: 8.0B USD
Full-time employees: 3,300

Overall health

Strength: growing faster than most peersgrowing faster than peers
Drawback: less profitable than most peersless profitable than peers
Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings
Drawback: its share price swings more than most peers’ (beta 1.44 vs a peer median of 0.87)bigger price swings (beta 1.44 vs peers 0.87)
About average: risk (debt, liquidity and share-price swings)risk

Ranks #948 of 1,612 technology companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 14% of revenue in 2025.
Zeta Global paid employees $178M in stock in 2025, 14% of its $1.3B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.
Operating margin at a 6-year high. 0.4% in 2025, the best of the last 6 years.
Zeta Global kept 0.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.
Valuation signals disagree. Cheaper than 51% of peers on free cash flow, but only 0% on earnings.
Relative to its free cash flow, Zeta Global looks cheaper than 51% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.
Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $8.2M profit in the quarter to June 2026.
Zeta Global reported a net loss over the last twelve months, but its most recent quarter was profitable ($8.2M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

StockQuotient Score

47/ 100

Oct 5 48 → Nov 4 47 (-1)

Valuation

Is the price right?

25/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major changeValuation also moves with the share price every day.

Why

Weaker than most peers on:

▼ Earnings yield
▼ EBITDA yield

Compare with peers

Behind the score

Sector-normalized EBITDA, earnings, and free cash flow yields.

Earnings yield-0.0%

SEC filings · 12 months to Jun 2026Negative (a loss or cash outflow), so it counts as zero whatever the share price30% base weight · Z-score -1.00Sector median: 0.0225 · MAD: 0.0225

EBITDA yield1.4%

SEC filings · 12 months to Jun 2026Reported value50% base weight · Z-score -0.79Sector median: 0.0423 · MAD: 0.0361

Free cash flow yield2.8%

SEC filings · 12 months to Jun 2026 · operating cash flow − capital spendingReported value20% base weight · Z-score 0.03Sector median: 0.0274 · MAD: 0.0274

Other data (not scored)

Book yield11.7%

SEC filings · latest balance sheetReported valueInformational · 0% composite weightSector median: 0.3292 · MAD: 0.1754

Growth

Is it growing?

87/100

Strong

3/3 inputs reported · High confidence

Since last quarter: ▲ Stronger

12-month revenue up 9.4%

Why

Stronger than most peers on:

▲ 3-yr revenue
▲ Revenue growth

Compare with peers

Behind the score

Revenue and earnings-per-share growth over one year, and revenue growth over three years.

Earnings per share growthUnavailable

Still loss-making, but the loss per share narrowed33% base weight · Z-score 0.30Sector median: 0.1108 · MAD: 0.3050

3-year revenue growth33.7%

SEC filings · 3 years to Jun 2026Outlier capped at sector 5th/95th percentile33% base weight · Z-score 3.42Sector median: 0.0483 · MAD: 0.0793

Revenue growth35.9%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score 2.69Sector median: 0.0853 · MAD: 0.1017

Profitability

Does it earn well?

29/100

Weak

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Weaker than most peers on:

▼ ROA
▼ Operating margin
▼ ROIC

Compare with peers

Behind the score

Return on invested capital, operating margin, and return on assets.

Operating margin1.6%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.67Sector median: 0.0631 · MAD: 0.0710

Return on assets-0.1%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.85Sector median: 0.0293 · MAD: 0.0362

Return on invested capital2.4%

SEC filings · 12 months to Jun 2026Reported value33% base weight · Z-score -0.51Sector median: 0.0676 · MAD: 0.0857

Other data (not scored)

Gross margin59.5%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.3343 · MAD: 0.1632

Return on equity-0.2%

SEC filings · 12 months to Jun 2026Reported valueInformational · 0% composite weightSector median: 0.0753 · MAD: 0.0889

Risk

Debt, liquidity, price swings

Moderate

Moderate relative risk

3/3 inputs reported · High confidence

Since last quarter: No major change

Why

Mixed versus peers:

▲ Current ratio
▼ Beta

Compare with peers

Behind the score

Relative to sector peers: 0 = lower relative risk · 1 = moderate · 2 = higher. Based on leverage, beta and liquidity.

Beta1.44

Yahoo Finance · 5-year monthly beta vs the marketReported value33% base weight · Z-score -1.53Sector median: 0.8710 · MAD: 0.3700

Current ratio2.38×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.81Sector median: 1.8295 · MAD: 0.6848

Debt / equity0.21×

SEC filings · latest balance sheetReported value33% base weight · Z-score 0.16Sector median: 0.2495 · MAD: 0.2270

Valuation, growth and profitability scores: higher is better. Risk: 0 is lower, 2 is higher. Risk is a relative proxy, not a bankruptcy probability. Scores depend on available sector peers.

Questions investors ask about Zeta Global

Is Zeta Global getting weaker?: Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 47/100 since Oct 28, 2026.
How is Zeta Global valued vs its peers?: Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 1,711 technology peers. Earnings yield -0.0% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -0.0% vs peers 2.2% (weaker than 100% of peers).
Is Zeta Global growing?: Yes, faster than most of its peers. Growth scores 87/100 against 1,711 technology peers. 3-year revenue growth 33.7% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 33.7% vs peers 4.8% (stronger than 95% of peers).
How profitable is Zeta Global?: Less profitable than most of its peers. Profitability scores 29/100 against 1,711 technology peers. Return on assets -0.1% vs a peer median of 2.9% (weaker than 73% of peers).Return on assets -0.1% vs peers 2.9% (weaker than 73% of peers).
How risky is Zeta Global?: Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.38× vs a peer median of 1.83× (stronger than 66% of peers).Current ratio 2.38× vs peers 1.83× (stronger than 66% of peers). Beta 1.44 vs a peer median of 0.87 (weaker than 80% of peers).Beta 1.44 vs peers 0.87 (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Latest filing: what changed

Quarter ended Jun 30, 2026 · filed Aug 5, 2026 · compared with the quarter ended Mar 31, 2026

No major changes

	Previous quarter	Latest quarter	Change
Revenue (12 months)	1.4B USD	1.6B USD	+9.4%
Net income (12 months)	−23.2M USD	−2.2M USD	−90.6%
Operating margin	0.2%	1.6%	+1.4 pts
Free cash flow (12 months)	199.7M USD	224.4M USD	+12.3%
Debt	197.3M USD	197.5M USD	+0.1%
Cash	288.8M USD	310.0M USD	+7.3%

From the company’s own SEC filings, as filed. Twelve-month figures roll forward one quarter at a time.

Industry valuation context

Industry: Software - Infrastructure · 71 companies

Valuations in Software - Infrastructure are above their usual range since 2016.

61% of months since 2016 were valued lower than now.
22% of companies are in the most expensive fifth of their own price-to-sales history.
Over 24 months, company values +19% and earnings +22% (medians): prices and earnings moved broadly together.
Median price-to-sales is +97% vs the whole market, against a usual +103%.

2016Shaded: most expensive fifth of its range2026

Financials

Fiscal years from SEC annual filings · change vs the prior year

Key ratios	FY 2021	FY 2022	FY 2023	FY 2024	FY 2025	Change
Gross margin	61.9%	63.5%	62.3%	60.3%	60.6%	▲ 0.4 pts
Operating margin	-54.2%	-43.8%	-23.0%	-6.8%	0.4%	▲ 7.2 pts
Net margin	-54.4%	-47.3%	-25.7%	-6.9%	-2.4%	▲ 4.5 pts
Return on assets (ROA)	-62.8%	-59.9%	-34.0%	-6.3%	-2.1%	▲ 4.2 pts
Return on equity (ROE)	-275.8%	-218.1%	-103.9%	-10.3%	-3.9%	▲ 6.4 pts
Free cash flow margin	7.6%	9.5%	9.6%	10.8%	14.2%	▲ 3.4 pts
Current ratio	1.85×	1.84×	1.76×	3.09×	1.60×	▼ 48%
Debt to equity	2.03×	1.44×	1.02×	0.29×	0.24×	▼ 16%
Interest coverage	-35.32×	-35.47×	-15.33×	-9.50×	14.48×	▲ 252%

ZETA price history

Price history is added with the daily price update and will appear after the next one.

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Bringing the fundamentals into focus…

Overall health

Strength: growing faster than most peersgrowing faster than peers

Drawback: less profitable than most peersless profitable than peers

Drawback: its shares are priced higher than most peers relative to what it earnspriced higher than peers for its earnings

Drawback: its share price swings more than most peers’ (beta 1.44 vs a peer median of 0.87)bigger price swings (beta 1.44 vs peers 0.87)

About average: risk (debt, liquidity and share-price swings)risk

Ranks #948 of 1,612 technology companies (bottom 42%)

See how it ranks against its peers

Worth knowing

Stock-based pay is a large cost. Stock pay was 14% of revenue in 2025.

Zeta Global paid employees $178M in stock in 2025, 14% of its $1.3B revenue. It doesn't use cash, so it flatters cash flow, but it is a real cost to shareholders through dilution.

Operating margin at a 6-year high. 0.4% in 2025, the best of the last 6 years.

Zeta Global kept 0.4% of revenue as operating profit in 2025, its highest in the 6 years of filings we have.

Valuation signals disagree. Cheaper than 51% of peers on free cash flow, but only 0% on earnings.

Relative to its free cash flow, Zeta Global looks cheaper than 51% of peers; relative to its earnings, cheaper than only 0%. The valuation score blends the two, so look at which measure fits this business best.

Loss over 12 months, profit last quarter. Lost money in the 12 months to June 2026, but made a $8.2M profit in the quarter to June 2026.

Zeta Global reported a net loss over the last twelve months, but its most recent quarter was profitable ($8.2M). One quarter isn't a trend, but it's closer to profitability than the 12-month figure suggests.

Questions investors ask about Zeta Global

Is Zeta Global getting weaker?

Its latest SEC filing (Aug 5, 2026) showed no major changes. Its overall score is unchanged at 47/100 since Oct 28, 2026.

How is Zeta Global valued vs its peers?

Priced higher than most peers relative to what it earns. Valuation scores 25/100 against 1,711 technology peers. Earnings yield -0.0% vs a peer median of 2.2% (weaker than 100% of peers).Earnings yield -0.0% vs peers 2.2% (weaker than 100% of peers).

Is Zeta Global growing?

Yes, faster than most of its peers. Growth scores 87/100 against 1,711 technology peers. 3-year revenue growth 33.7% vs a peer median of 4.8% (stronger than 95% of peers).3-year revenue growth 33.7% vs peers 4.8% (stronger than 95% of peers).

How profitable is Zeta Global?

Less profitable than most of its peers. Profitability scores 29/100 against 1,711 technology peers. Return on assets -0.1% vs a peer median of 2.9% (weaker than 73% of peers).Return on assets -0.1% vs peers 2.9% (weaker than 73% of peers).

How risky is Zeta Global?

Moderate risk relative to 1,711 technology peers, judged on debt, liquidity and share-price swings. Current ratio 2.38× vs a peer median of 1.83× (stronger than 66% of peers).Current ratio 2.38× vs peers 1.83× (stronger than 66% of peers). Beta 1.44 vs a peer median of 0.87 (weaker than 80% of peers).Beta 1.44 vs peers 0.87 (weaker than 80% of peers). A relative measure, not a bankruptcy probability.

Previous quarter

Latest quarter

Change

Revenue (12 months)

1.4B USD

1.6B USD

+9.4%

Net income (12 months)

−23.2M USD

−2.2M USD

−90.6%

Operating margin

0.2%

1.6%

+1.4 pts

Free cash flow (12 months)

199.7M USD

224.4M USD

+12.3%

Debt

197.3M USD

197.5M USD

+0.1%

Cash

288.8M USD

310.0M USD

+7.3%

Key ratios

FY 2021

FY 2022

FY 2023

FY 2024

FY 2025

Change

Gross margin

61.9%

63.5%

62.3%

60.3%

60.6%

▲ 0.4 pts

Operating margin

-54.2%

-43.8%

-23.0%

-6.8%

0.4%

▲ 7.2 pts

Net margin

-54.4%

-47.3%

-25.7%

-6.9%

-2.4%

▲ 4.5 pts

Return on assets (ROA)

-62.8%

-59.9%

-34.0%

-6.3%

-2.1%

▲ 4.2 pts

Return on equity (ROE)

-275.8%

-218.1%

-103.9%

-10.3%

-3.9%

▲ 6.4 pts

Free cash flow margin

7.6%

9.5%

9.6%

10.8%

14.2%

▲ 3.4 pts

Current ratio

1.85×

1.84×

1.76×

3.09×

1.60×

▼ 48%

Debt to equity

2.03×

1.44×

1.02×

0.29×

0.24×

▼ 16%

Interest coverage

-35.32×

-35.47×

-15.33×

-9.50×

14.48×

▲ 252%