Ziff Davis (ZD) financial statements
Ziff Davis reported revenue of $1.5B in fiscal 2025, up 5.8% a year over 9 years.
Net income was $47M and the operating margin 12.6%, against 27.7% in 2016.
Free cash flow was $288M, and the company returned $174M in net buybacks.
The diluted share count fell 14% over the period (buybacks).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Ziff Davis's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $874M | $1.1B | $1.2B | $1.1B | $1.2B | $1.4B | $1.4B | $1.4B | $1.4B | $1.5B |
| Cost of revenue | $147M | $172M | $201M | $187M | $178M | $188M | $185M | $186M | $200M | $207M |
| Gross profit | $727M | $946M | $1.0B | $863M | $980M | $1.2B | $1.2B | $1.2B | $1.2B | $1.2B |
| Research and development | $38M | $46M | $48M | $45M | $57M | $79M | $74M | $69M | $67M | $62M |
| Selling, general and admin | $447M | $654M | $714M | $730M | $785M | $950M | $673M | $683M | $723M | $753M |
| Operating income | $243M | $246M | $244M | $88M | $138M | $167M | $199M | $133M | $114M | $183M |
| Interest expense | $43M | $59M | $64M | $26M | $58M | $80M | $37M | $42M | $35M | $38M |
| Pre-tax income | $211M | $200M | $178M | $55M | $78M | $351M | $131M | $75M | $93M | $81M |
| Income tax | $59M | $61M | $45M | $14M | $38M | -$14M | $58M | $24M | $41M | $25M |
| Net income | $152M | $139M | $129M | $219M | $151M | $497M | $64M | $42M | $63M | $47M |
| EPS (diluted) | $3.13 | $2.83 | $2.59 | $4.39 | $3.18 | $10.37 | $1.36 | $0.89 | $1.42 | $1.15 |
| Diluted shares | 48M | 49M | 49M | 49M | 47M | 48M | 47M | 46M | 45M | 41M |
| Gross margin | 83.2% | 84.6% | 83.3% | 82.2% | 84.6% | 86.7% | 86.7% | 86.4% | 85.7% | 85.8% |
| Operating margin | 27.7% | 22.0% | 20.2% | 8.4% | 11.9% | 11.8% | 14.3% | 9.7% | 8.1% | 12.6% |
| Net margin | 17.4% | 12.5% | 10.7% | 20.8% | 13.0% | 35.1% | 4.6% | 3.0% | 4.5% | 3.3% |
Balance sheet
Fiscal years, from Ziff Davis's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $124M | $351M | $209M | $576M | $177M | $924M | $711M | $765M | $506M | $574M |
| Receivables | $200M | $234M | $222M | $262M | $310M | $316M | $305M | $338M | $660M | $623M |
| Total current assets | $348M | $620M | $460M | $887M | $623M | $1.3B | $1.1B | $1.2B | $1.3B | $1.4B |
| Property, plant and equipment | $68M | $80M | $99M | $128M | $132M | $161M | $178M | $188M | $197M | $162M |
| Goodwill | $1.1B | $1.2B | $1.4B | $1.3B | $1.5B | $1.5B | $1.6B | $1.5B | $1.6B | $1.3B |
| Total assets | $2.1B | $2.5B | $2.6B | $3.5B | $3.7B | $3.8B | $3.5B | $3.5B | $3.7B | $3.7B |
| Total current liabilities | $454M | $265M | $307M | $833M | $883M | $497M | $432M | $432M | $900M | $1.1B |
| Long-term debt | $602M | $1.0B | $1.0B | $1.1B | $1.2B | $1.0B | $999M | $1.0B | $864M | $718M |
| Total liabilities | $1.1B | $1.4B | $1.5B | $2.2B | $2.5B | $1.8B | $1.6B | $1.6B | $1.9B | $1.9B |
| Shareholders' equity | $915M | $1.0B | $1.0B | $1.3B | $1.2B | $2.0B | $1.9B | $1.9B | $1.8B | $1.8B |
| Net debt | $478M | $651M | $804M | $873M | $1.4B | $396M | $346M | $264M | $358M | $293M |
Cash flow
Fiscal years, from Ziff Davis's 10-K filings with the SEC.
| Fiscal year | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $282M | $264M | $401M | $413M | $480M | $517M | $336M | $320M | $390M | $407M |
| Capital spending | $25M | $40M | $56M | $71M | $93M | $114M | $106M | $109M | $107M | $119M |
| Free cash flow | $258M | $225M | $345M | $342M | $388M | $403M | $230M | $211M | $284M | $288M |
| Stock-based compensation | $14M | $23M | $28M | $24M | $24M | $25M | $27M | $32M | $41M | $45M |
| Dividends paid | $66M | $73M | $83M | $44M | $0 | $0 | — | — | — | — |
| Share buybacks (net) | -$56M | -$10M | -$47M | -$21M | -$276M | -$78M | -$78M | -$109M | -$185M | -$174M |
| Net borrowing | $0 | $395M | -$2M | $545M | $100M | -$512M | -$167M | $0 | -$135M | $0 |
| Free cash flow margin | 29.5% | 20.1% | 28.6% | 32.6% | 33.4% | 28.4% | 16.6% | 15.5% | 20.2% | 19.8% |
| Dividends per share | $1.37 | $1.51 | $1.69 | $0.90 | — | — | — | — | — | — |
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Open ZD in InvestinglyQuestions
What was Ziff Davis's revenue in 2025?
$1.5B in fiscal 2025, from its 10-K filing.
How much free cash flow does Ziff Davis generate?
$288M in fiscal 2025 (operating cash flow minus capital spending).
From Ziff Davis's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.