Latest Ratios: P/E Ratio 46.3x · EV/EBITDA 5.2x · ROE 2.7%. (1998–2025 historical series)
Price-based multiples — how expensive the stock is relative to earnings, sales, book value, and cash flow
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Market Cap | $2.0B | $1.4B | $2.4B | $3.1B | $3.7B | $5.3B | $4.0B | $4.0B | $3.0B | $3.2B | $3.4B |
| Enterprise Value | $2.2B | $1.7B | $2.8B | $3.4B | $4.1B | $5.8B | $5.5B | $5.0B | $3.8B | $3.8B | $4.1B |
| P/E Ratio → | 46.31 | 30.57 | 38.27 | 75.49 | 58.16 | 10.73 | 26.71 | 18.56 | 22.94 | 23.05 | 22.73 |
| P/S Ratio | 1.35 | 1.00 | 1.73 | 2.29 | 2.67 | 3.75 | 3.45 | 2.91 | 2.44 | 2.84 | 3.90 |
| P/B Ratio | 1.25 | 0.82 | 1.34 | 1.65 | 1.97 | 2.70 | 3.31 | 3.05 | 2.85 | 3.11 | 3.73 |
| P/FCF | 6.82 | 5.02 | 8.53 | 14.78 | 16.15 | 13.17 | 10.41 | 11.68 | 8.57 | 14.27 | 13.47 |
| P/OCF | 4.82 | 3.55 | 6.20 | 9.76 | 11.06 | 10.27 | 8.34 | 9.68 | 7.36 | 12.01 | 12.08 |
P/E links to full P/E history page with 30-year chart
Enterprise-value multiples — capital-structure-neutral measures of total business value
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| EV / Revenue | — | 1.19 | 2.00 | 2.48 | 2.92 | 4.08 | 4.75 | 3.64 | 3.11 | 3.42 | 4.65 |
| EV / EBITDA | 5.19 | 4.00 | 8.63 | 9.16 | 9.40 | 13.59 | 15.01 | 9.82 | 8.70 | 9.38 | 11.16 |
| EV / EBIT | 11.02 | 17.52 | 26.20 | 35.64 | 24.64 | 13.66 | 40.95 | 61.18 | 15.68 | 14.29 | 16.09 |
| EV / FCF | — | 6.01 | 9.90 | 16.03 | 17.66 | 14.36 | 14.33 | 14.62 | 10.91 | 17.19 | 16.06 |
Margins and return-on-capital ratios measuring operating efficiency
Full margin charts and quarterly trend are on the Earnings History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross Margin | 70.0% | 70.0% | 85.7% | 86.4% | 86.7% | 86.7% | 84.6% | 82.7% | 83.3% | 84.6% | 83.2% |
| Operating Margin | 14.1% | 14.1% | 8.1% | 9.7% | 14.3% | 11.8% | 11.9% | 20.2% | 20.2% | 22.0% | 27.7% |
| Net Profit Margin | 3.3% | 3.3% | 4.5% | 3.0% | 4.6% | 35.1% | 13.0% | 15.9% | 10.7% | 12.5% | 17.4% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| ROE | 2.7% | 2.7% | 3.4% | 2.2% | 3.3% | 31.3% | 11.9% | 18.6% | 12.5% | 14.4% | 16.9% |
| ROA | 1.3% | 1.3% | 1.8% | 1.2% | 1.7% | 13.4% | 4.2% | 7.2% | 5.1% | 6.2% | 7.9% |
| ROIC | 7.2% | 7.2% | 3.9% | 4.5% | 6.4% | 4.9% | 4.1% | 10.0% | 10.4% | 11.4% | 13.0% |
| ROCE | 7.6% | 7.6% | 3.9% | 4.3% | 6.2% | 5.5% | 5.1% | 11.2% | 11.0% | 12.9% | 15.1% |
Solvency and debt-coverage ratios — lower is generally safer
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Debt / Equity | 0.51 | 0.51 | 0.49 | 0.53 | 0.53 | 0.60 | 1.39 | 1.20 | 0.98 | 0.98 | 0.85 |
| Debt / EBITDA | 2.06 | 2.06 | 2.75 | 2.71 | 2.31 | 2.75 | 4.58 | 3.10 | 2.35 | 2.46 | 2.14 |
| Net Debt / Equity | — | 0.16 | 0.21 | 0.14 | 0.18 | 0.24 | 1.24 | 0.77 | 0.78 | 0.64 | 0.72 |
| Net Debt / EBITDA | 0.66 | 0.66 | 1.19 | 0.71 | 0.80 | 1.12 | 4.10 | 1.97 | 1.86 | 1.60 | 1.80 |
| Debt / FCF | — | 0.99 | 1.37 | 1.25 | 1.50 | 1.18 | 3.92 | 2.94 | 2.33 | 2.92 | 2.59 |
| Interest Coverage | 3.81 | 3.81 | 7.66 | 4.74 | 4.88 | 5.88 | 2.39 | 3.04 | 3.86 | 3.95 | 6.11 |
Short-term solvency ratios and asset-utilisation metrics
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Current Ratio | 1.27 | 1.27 | 1.41 | 2.76 | 2.51 | 2.62 | 0.71 | 1.06 | 1.50 | 2.34 | 0.77 |
| Quick Ratio | 1.27 | 1.27 | 1.41 | 2.76 | 2.51 | 2.62 | 0.71 | 1.06 | 1.50 | 2.34 | 0.77 |
| Cash Ratio | 0.56 | 0.56 | 0.56 | 1.77 | 1.64 | 1.86 | 0.20 | 0.69 | 0.68 | 1.32 | 0.27 |
| Asset Turnover | — | 0.40 | 0.38 | 0.39 | 0.39 | 0.38 | 0.32 | 0.39 | 0.47 | 0.46 | 0.42 |
| Inventory Turnover | — | — | — | — | — | — | — | — | — | — | — |
| Days Sales Outstanding | — | 167.81 | 171.92 | 90.37 | 79.96 | 81.50 | 97.50 | 69.68 | 67.00 | 76.47 | 83.45 |
Earnings, FCF, buyback, and dividend yields — total returns to shareholders
Full dividend history and growth charts are on the Dividend History page
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend Yield | — | — | — | — | — | — | — | 1.1% | 2.8% | 2.3% | 1.9% |
| Payout Ratio | — | — | — | — | — | — | — | 20.1% | 63.5% | 52.7% | 43.2% |
| Metric | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 | FY 2019 | FY 2018 | FY 2017 | FY 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Earnings Yield | 2.2% | 3.3% | 2.6% | 1.3% | 1.7% | 9.3% | 3.7% | 5.4% | 4.4% | 4.3% | 4.4% |
| FCF Yield | 14.7% | 19.9% | 11.7% | 6.8% | 6.2% | 7.6% | 9.6% | 8.6% | 11.7% | 7.0% | 7.4% |
| Buyback Yield | 8.9% | 12.0% | 7.7% | 3.5% | 2.1% | 1.5% | 6.9% | 0.5% | 1.6% | 0.3% | 1.7% |
| Total Shareholder Yield | 8.9% | 12.0% | 7.7% | 3.5% | 2.1% | 1.5% | 6.9% | 1.6% | 4.4% | 2.6% | 3.6% |
| Shares Outstanding | — | $41M | $45M | $46M | $47M | $48M | $47M | $49M | $49M | $49M | $48M |
Search algorithm traffic volatility
According to current market data, Ziff Davis trades at a forward P/E of 9.84, which suggests that investors are heavily discounting the company's future earnings potential compared to its historical TTM P/E of 43.84, likely reflecting skepticism regarding the sustainability of its advertising-driven business model.
The wide divergence between trailing and forward multiples indicates that the market anticipates a significant reset in earnings power. This valuation appears to treat the company as a mature, low-growth aggregator rather than a high-intent data engine, warranting further investigation into whether the current price adequately captures the long-term value of its proprietary data assets.
Based on reported figures, Ziff Davis's ROIC has struggled to maintain momentum, falling to a marginal 0.1% in 2026Q1, which indicates that the company is currently failing to generate meaningful returns on its invested capital base compared to its historical performance in the 2-3% range.
The persistent decay in ROIC suggests that the company's serial acquisition strategy may be encountering diminishing returns as integration costs and market headwinds mount. Investors should monitor whether management can improve capital allocation efficiency or if the current asset base requires further rationalization to restore historical return levels.
As reported in recent financial statements, Ziff Davis's DSO reached 179 days in 2026Q1, a significant deterioration from the 74-day level observed in 2023Q4, which suggests that the company is facing increasing difficulty in collecting receivables from its advertising and affiliate partners in a tightening market.
This lengthening of the cash conversion cycle implies that the company's working capital management is becoming a drag on liquidity. The inability to convert revenue into cash efficiently may indicate a shift in bargaining power toward customers, potentially forcing the company to offer more lenient payment terms to maintain its market position.
According to the latest quarterly filings, Ziff Davis maintains a debt-to-equity ratio of 0.50, which indicates that the company has successfully preserved a relatively conservative capital structure despite the operational volatility and negative free cash flow experienced during the most recent fiscal quarter.
While the company's leverage remains manageable, the sharp decline in interest coverage ratios suggests that the margin of safety for debt service is narrowing. The company appears to be relying on its existing balance sheet strength to weather current headwinds, though this buffer may be tested if operational cash flow does not recover.
As evidenced by the significant variance between GAAP earnings and cash generation, the P/E ratio is a fundamentally flawed metric for Ziff Davis, as it fails to account for the massive non-cash amortization charges resulting from the company's aggressive acquisition-led growth strategy.
Investors should prioritize Adjusted EBITDA or Free Cash Flow metrics to assess the true economic earning power of the business. Relying on P/E likely leads to an overly pessimistic view of the company's valuation, as it obscures the underlying cash-generative capacity that supports the firm's ongoing capital allocation and debt-servicing activities.
Includes 30+ ratios · 28 years · Updated daily
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Quick answers to the most common questions about buying ZD stock.
Ziff Davis, Inc.'s current P/E ratio is 46.3x. The historical average is 23.3x. This places it at the 92th percentile of its historical range.
Ziff Davis, Inc.'s current EV/EBITDA is 5.2x. This enterprise value multiple compares the company's total value (equity + debt - cash) to its EBITDA. The historical average is 10.9x.
Ziff Davis, Inc.'s return on equity (ROE) is 2.7%. The historical average is 12.1%.
Based on historical data, Ziff Davis, Inc. is trading at a P/E of 46.3x. This is at the 92th percentile of its historical P/E range. Compare with industry peers and growth rates for a complete picture.
Ziff Davis, Inc. has 70.0% gross margin and 14.1% operating margin. Operating margin between 10-20% is typical for established companies.
Ziff Davis, Inc.'s Debt/EBITDA ratio is 2.1x, indicating moderate leverage. A ratio between 2-4x is manageable but warrants monitoring.