ZM
Zoom Video Communications
ZM · Communication Software
Company brief
ZM
ZMCommunication Software$19.2B

Zoom Video Communications

Leading provider of video conferencing, webinars, and unified communications platform serving millions of users worldwide

Moat score
7.8/100
13F status
Tracking pending
Main Metrics

Beginner valuation check

Price
$98.58
Next earnings
Data pending

Data pending from FMP or Finnhub.

1Y Performance
+19%

Positive price performance shows recent market sentiment, not a full investment thesis.

Forward P/E
17.4x

Forward P/E around 17.4x means investors pay about $17.4 for each expected $1 of future profit per share, usually the next 12 months or next fiscal year. It is a forecast, not a fact.

P/E
15.5x

A P/E around 15.5x means investors pay about $15.5 for each $1 the company earned per share over the last 12 months, usually the last four quarterly reports.

EPS
$6.21
Market Cap
$29.5B
Forward P/E is the cleanest beginner valuation anchor here; compare it with growth and recent performance.

Source: market data index. As of May 21, 2026. P/E can be unavailable or misleading when earnings are negative.

Scenario Framework

Bull / Neutral / Bear

Neutral Case

Zoom continues to lean on Workplace as the main operating engine, with the market focusing on whether current growth and forward earnings multiples stay justified.

Watch signal

Forward P/E around 17.4x remains in line with the company’s growth profile.

What you own

Zoom Video Communications is exposure to communication software operating model with medium switching costs and 130% net revenue retention.

Base thesis

Network effects from 300M+ daily participants create winner-take-all dynamics

Main risk

The main question is whether the company can keep customer value compounding without margin pressure eroding the moat.

How to inspect it

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Simulator coverage pending

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Investor Snapshot
7.8Moat Score
Net Revenue Retention130%
Retention RiskLow
AI Disruption RiskMedium
Switching CostsMedium
13F Ownership
Tracking pending

No SEC-backed 13F rows are matched for this ticker yet. We do not fabricate ownership rows.

Investment Thesis
  • Network effects from 300M+ daily participants create winner-take-all dynamics
  • Deep enterprise integrations with SSO, calendar, and CRM systems create high switching costs
  • Zoom Phone and Zoom Rooms expansion drives 130%+ net revenue retention
  • AI-powered features (meeting summaries, real-time translation) enhance stickiness but face competition
  • Regulatory compliance (HIPAA, FINRA, FedRAMP) creates defensible enterprise moats
  • Developer platform with 2,500+ apps creates ecosystem lock-in effects