ZoomInfo Technologies Inc. (GTM)
NEUTRALファンダメンタル
62
株価
$3.83
時価総額
$1.16B
パート1 · 企業の価値
概要
ZoomInfo sells access to a database of business contacts, company information and buying-intent signals that sales, marketing and recruiting teams use to find and reach the right prospects. Rather than helping a company sell to consumers, its customers are the sales and marketing departments of other businesses looking for leads. It operates as one reportable segment: everything is variations on the same core product, from basic contact lookups to AI-assisted outreach and account-based marketing tools sold as add-on modules.
収益の仕組み
Customers pay annual or multi-year subscription fees for seats and modules — Sales, Marketing, Operations, Talent — with the price scaling by number of users and which data and automation features are included. Growth comes less from finding brand-new customers and more from expanding what existing accounts already pay for: adding seats, upgrading modules, or moving from smaller downmarket contracts to larger upmarket ones. When customers shrink their teams or cut software budgets, seat counts and renewal size fall with them.
競争優位性(moat)
ネットワーク効果 · 狭いZoomInfo's database gets more useful as more customers and integrations feed data back into it, and switching a sales team's workflow to a new provider means re-training and re-verifying contact data from scratch. But the underlying business-contact data itself is not exclusive — LinkedIn, data brokers and large language models can all be assembled into a competing product, so the advantage is real but not unassailable.
需要を左右する要因
景気循環型ZoomInfo sells to sales, marketing and recruiting teams, and spending on those functions is one of the first things companies cut when they pull back on growth — fewer sales reps means fewer seats needed. Net revenue retention below 100% in recent periods shows existing customers are already spending less on average, not just failing to grow.
主なリスク
- Customer growth and retention — The company depends on attracting new customers, renewing subscriptions and expanding usage at existing accounts; weaker economic conditions can cut spending on sales and marketing tools first.
- Competition from data providers and AI platforms — Growing competition from other data vendors and large-language-model platforms could offer similar contact and intent data, eroding ZoomInfo's pricing power or market share.
- Data privacy and AI regulation — Evolving privacy and AI-related laws could restrict how the company gathers, processes and sells contact and company data, a core part of its product.
- Sensitivity to customer headcount — Because pricing scales with seats, when customers reduce sales, marketing or recruiting headcount, ZoomInfo's revenue from that account shrinks even if the customer relationship itself continues.
強気材料
Buyers argue that a database built from years of aggregated contributions and integrations is hard for a new entrant to match quickly, and that AI-driven sales tools give ZoomInfo a chance to sell more modules into the same customer base rather than needing constant new logos.
弱気材料
Sellers fear that falling net revenue retention shows existing customers are already spending less, that large language models could let competitors assemble comparable contact data more cheaply, and that revenue tied to sales and marketing headcount is exposed whenever customers tighten budgets.
Written by the editors, published on 2026年8月18日
Direct competitors
Who this company fights with for the same customers
No editorial profile for this company yet
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貸借対照表と流動性
売上高
$1.26B
直近12か月(2026/6/30まで)
純利益
$-541M
直近12か月(2026/6/30まで)
フリーキャッシュフロー
$389M
自己資本合計
$1.51B
負債合計
$4.93B
流動比率
0.65
利払い倍率
8.80
負債/EBITDA
4.49
一株当たり利益(EPS)
売上高と純利益
フリーキャッシュフロー
収益内訳
財務推移表
利益率の推移
負債の推移
負債の重さ
成長率グリッド
成長率 — 売上高
適正価値の推定
適正価値
$15.73
現在株価
$3.83
安全マージン
+75.6%
適正価値レンジ
$10.23 - $21.24
推定方法
バリュエーション指標
P/E レシオ
10.45
ROE
8.2%
P/B レシオ
1.37
P/FCF
3.17
粗利益率
83.5%
ROIC
-6.9%
収益性レーダー
Value Creation (Economic Moat)
ROIC
-6.9%
WACC
5.3%
ROIC − WACC
-12.2 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
ファンダメンタル分析基準
合格(16)
- EPS shows upward trend
- Gross Margin 83.5%
- P/FCF 3.17
- P/B Ratio 1.37
- Debt/Equity ratio
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Price below Graham Number
- DCF valuation (Undervalued)
- ROE 8.0%
- Revenue Growth 5Y 21.3%
- Earnings Surprise avg 8.1%
- Share Dilution -10.1%
- Piotroski F-Score 7/9
不合格(8)
- Price CAGR -34.05%
- ROIC -6.9%
- Operating Margin -35.2%
- Current Ratio
- Return on Tangible Assets
- Low reliance on intangibles
- Analyst Consensus 7% Buy
- Net Margin Trend -43.0% vs 7.3%
データなし(3)
- Dividend Payout NaN%
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
Piotroski F-スコア
財務健全性が高い
利益の質
低品質:会計処理を調査してください
株式希薄化
株式を買い戻している。株主に友好的
ガバナンス
経営陣
| 氏名 | 役職 | 年齢 |
|---|---|---|
| Mr. Henry L. Schuck J.D. | Co-Founder, Chairman of the Board & CEO | 41 |
| Mr. Michael Graham O'Brien | CFO & Interim PFO | 38 |
| Ms. Ashley McGrane | Executive VP, Corporate Secretary & General Counsel | 41 |
| Mr. James Roth | Chief Revenue Officer | 38 |
| Mr. Filip Popovic | Chief Technology Officer | - |
| Jeremiah Sisitsky | Vice President of Investor Relations | - |
| Mr. Dennis Sevilla | Chief Marketing Officer | - |
| Mr. Chad Herring | Chief Human Resource Officer | - |
| Mr. Andrew Riesenfeld | Senior Vice President of Business Development | - |
| Mr. Dominik Facher | Chief Product Officer | - |
監査リスク
1
取締役会リスク
7
報酬リスク
10
株主権利リスク
8
パート2 · 株価と買い時
この部分は企業に価値があるかを判断するものではありません。ファンダメンタルズに納得したうえで、いつ買うかを選ぶためのものです。内容:テクニカル分析、ポテンシャル、過去のドローダウン、ガンマエクスポージャー。
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