Forensic Analysis · Technology / Software · as of Aug 9, 2026

Zoom Communications, Inc. (ZM)

A forensic read on Zoom Communications, Inc. built from its complete SEC filings — financial-health screens, earnings quality, red flags and a price-aware rating. Reproducible math, not opinion.

B · Sound & dependable

Forensic grade

Safe

Financial health

18.4

Distress distance

Clean

Earnings quality

Forensic signals

14.5

P / E (ttm)

19.4%

ROE

$30.6B

Market cap

4.4%

Revenue growth

This free snapshot doesn't read filing or proxy text, so the auditor-quality and governance checks that can lower a grade were not evaluated (red flags, auditor quality, say on pay, board independence). Those checks only ever lower a grade, so the full analysis can land below the grade above but never above it — treat it as the most favourable reading, not the settled one.

Zoom Communications, Inc. earns a B (Sound & dependable) forensic quality grade, and its balance-sheet distress test reads 18.4, placing it in the Safe zone. 3 forensic signals were flagged in its latest SEC filings, led by accruals ratio (% of noa).

What the filings flag

+11.8%

FY2025→FY2026

Accruals ratio (% of NOA). Net operating assets grew +11.8% relative to their own average in FY2026 — scaled by NOA itself, not total assets (see the Forensic Screens card's differently-scaled Sloan Accrual Ratio for that read). Accruals are building faster than is comfortable — part of profit is sitting in the balance sheet rather than turning to cash. The build is led by payables paid down 25% against -1% in cost of sales. This is the third straight fiscal year of building accruals — a multi-year streak is a materially stronger tell than a single year's move. The cash-flow cross-check is more mixed: reported earnings ran in line with operating cash by 1% of net operating assets, diverging from the balance-sheet accrual read.

10.1%

FY2026

Return on invested capital. Return on invested capital is 10.1% in the latest fiscal year and rising from 3% — around its ~10% cost of capital, so growth is roughly value-neutral.

+0.3%/yr

FY2023–FY2026

Share count. Diluted share count changed +1% over the last 3 years to FY2026 (+0.3%/yr). Roughly flat — buybacks ($1.6B) are about offsetting stock comp ($761M), not shrinking the count. Per-share value isn't being meaningfully helped or hurt by the count.

Key fundamentals

Latest Revenue$4.87B

Revenue Growth YoY+4.4%

Revenue CAGR (3yr)+3.5%

Net Margin39.0%

Free Cash Flow$1.92B

Return on Equity19.4%

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Data from SEC EDGAR public filings · metrics as of Aug 9, 2026. Forensic signals flag probability, not certainty.