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ZYBERNO
Stock Report
Updated Aug 30, 2026

ZETA GLOBAL HOLDINGS CORP. (ZETA)

Technology • NYSE

$30.54
Zeta Global Holdings Corp. is an American marketing technology company headquartered in New York City that provides a data-driven cloud-based marketing platform. The company's Zeta Marketing Platform uses AI, big data, and machine learning to help marketers identify, target, and engage consumers across digital and direct marketing channels, with a proprietary database of hundreds of millions of U.S. consumer profiles.

Professional Investment Analysis

ZYBERNO SCORE →
Is it a great business? Is it getting better?
56.0/100
AVERAGE BUSINESS
ZETA GLOBAL HOLDINGS CORP. (ZETA) scores 56/100 — decent metrics but limited evidence of durable competitive advantage.
📊 How is the Zyberno Score calculated? +
VALUATION SIGNAL
MARGIN OF SAFETY
Is this stock cheap or expensive relative to what the business has historically generated for owners?
-20.5%
Overvalued
Is the market underestimating or overestimating what this business is capable of going forward?
-46.2%
Market Overestimates
↑ UNDER
+50%
Brina Gap
-50%
↓ OVER
← OVERVALUED
-100%
Margin of Safety
UNDERVALUED →
+100%
UNDERESTIMATED
GROWTH
DOUBLE
DISCOUNT
EXPENSIVE
HYPE
VALUE
TRAP
0,0
MoS -20.5%  ·  Gap -46.2%

Two independent signals. One tells you if the stock is cheap relative to what the business has historically generated for owners — the Margin of Safety. The other tells you if the market is underestimating what the business is capable of going forward — the Brina Gap.

They are calculated from completely different data sources and answer completely different questions. The Margin of Safety reads the past. The Brina Gap reads the present economics and compares them against what the current stock price is assuming about the future.

When both point in the same direction simultaneously — DOUBLE DISCOUNT — the probability of genuine mispricing is high. The market is wrong on two independent dimensions at once, which is rare and significant.

The most dangerous scenario is not an overvalued stock — those are easy to avoid. It is a VALUE TRAP: a stock that appears cheap historically but where the market is already pricing in stronger growth than the business fundamentals support. Without the Brina Gap signal this looks identical to a genuine opportunity. The matrix separates them instantly.

The Brina Gap is the more powerful of the two signals. Most investors and analytical tools focus on valuation alone — whether a stock is cheap relative to earnings. Far fewer systematically compare what the business economics structurally support against what the stock price is actually assuming. That gap between fundamental growth potential and market expectations is where the most reliable mispricings live, and where this matrix earns its value.

Use this as your first filter. A stock in DOUBLE DISCOUNT territory is worth investigating. Everything else requires either more caution or a specific reason to act.

EXPENSIVE HYPE
In the Brina Matrix, ZETA GLOBAL HOLDINGS CORP. (ZETA) registers Expensive Hype — Margin of Safety -20.5% and Brina Gap -46.2% are both unfavorable. The stock is priced above its historical earnings power and the market already assumes faster growth than the fundamentals support.
🎯 Expected Annual Return →
15.6%
Margin of Safety convergence — your return if the market re-prices to intrinsic value (5-yr annualised)
-45.9%
Brina Gap convergence — your return if the market corrects the growth mispricing the Gap measures
6.5%
Yield + growth — what the business alone earns you, even if the market never re-rates
💰 How is Margin of Safety calculated? +
📈 How is Brina Gap calculated? +

Critical Financial Health Indicators

Return on Equity (Profitability):CRITICAL (-4.4%)
Debt-to-Equity (Solvency Risk):EXCELLENT (0.24x)
Operating Margin (Operational Efficiency):CRITICAL (1.6%)
Return on Capital (Capital Efficiency):CRITICAL (2.2%)
📊 Valuation Trilogy
Three interconnected metrics for complete valuation analysis
💎
Intrinsic Value
DCF Fair Value
$25.34
🛡️
Margin of Safety
Valuation Gap
-20.5%
🎯
Expected Return
Projected Annual
15.6%
Click any metric for full methodology and detailed analysis
Zyberno's Verdict

According to Zyberno, ZETA GLOBAL HOLDINGS CORP. (ZETA) is not a buy — AVERAGE BUSINESS (56/100) with a negative Margin of Safety of -20.5% and a Brina Gap of -46.2% showing the market already prices in more growth than the fundamentals support.

According to Zyberno's DCF model, ZETA GLOBAL HOLDINGS CORP. (ZETA) trades at $30.54 against an estimated intrinsic value per share of $25.34 — a -20.5% Margin of Safety based on Owner Earnings of $199.75M TTM, projected at 53.2% growth for 10 years with a 2.5% terminal growth rate. The Brina Gap of -46.2% weakens the case: based on the company's ROIC (2.2%) and reinvestment rate (173.4%), the business can fundamentally grow at 3.8% — but the current enterprise value implies the market expects 50.0%. This places ZETA in the Expensive Hype quadrant of the Brina Matrix, the most fragile combination — overvalued on cash AND overpriced on growth. Zyberno's model translates this into a 5-year expected return of 15.6% annually.

Over the trailing twelve months, ZETA generated $199.75M in Owner Earnings. Capital was deployed as follows: $14.09M invested in capital expenditures. Reinvestment rate: 173.4%. Owner Earnings have grown at 53.2% annually over the trailing five years using log-linear regression.

DIVISION I: EXECUTIVE SUMMARY
A. Market Valuation

Market Price & Capitalization (2)

Current Price:30.54
Market Cap:$7.49B

Valuation Multiples (3)

P/B Ratio:8.09x
P/S Ratio:4.77x
Peg Ratio:-999.00x

Enterprise Metrics (3)

Enterprise Value:$7.41B
Ev Ebitda Ratio:62.37x
Pfcf Ratio:37.51x

Price Action & Momentum (3)

12-1 Momentum:
+22.2% (69th pctile)
📈 Click to view full ZETA Momentum analysis →
Momentum Percentile:69 / 100
% of 52-Week High:102.2%
B. Profitability Assessment

Return Metrics (7)

ROE:
-4.4%
📊 Click to view full ZETA ROE analysis →
ROA:-2.6%
Roic:
2.2%
📊 Click to view full ZETA ROIC analysis →
Reinvestment Rate:173.4%
Fundamental Growth Rate (g):3.8%
Market-Implied Growth Rate:50.0%
Brina Gap:
-46.2%
☷ Click to view full ZETA Brina Gap analysis →

Margin Analysis (3)

Operating Margin Ttm:1.6%
Net Margin Ttm:-2.3%
Ebitda Margin:7.6%

TTM Performance (3)

Gross Margin Ttm:59.5%
Operating Margin Ttm:1.6%
Net Margin Ttm:-2.3%

Yield Metrics (3)

Earnings Yield:-$0.56
Owner Earnings Yield:$2.67
Dividend Yield:0.0%
C. Log-Linear Regression Growth Trends

Earnings Surprise (SUE) (3)

Earnings Surprise (SUE):
-0.38
📊 Click to view full ZETA Earnings Surprise analysis →
EPS Surprise vs Expected:-79.4%
Latest Earnings Filed:2026-08-05

Revenue Growth (Linear) (1)

Revenue Growth Rate (Linear):33.4%

Cash Flow Growth (Linear) (2)

Free Cash Flow Growth Rate (Linear):53.1%
Operating Cash Flow Growth Rate (Linear):41.0%
D. Financial Stability

Liquidity Ratios (3)

Current Ratio:2.38x
Quick Ratio:2.38x
Cash Ratio:1.09x

Leverage Analysis (3)

Debt To Equity Ttm:0.24x
Debt-to-Equity Ratio:0.24x
Debt To Ebitda:1.90x

Coverage Ratios (2)

Interest Coverage Ratio:3.50x
Times Interest Earned:3.50

Capital Structure (4)

Working Capital:393,158,000.00
Cash And Cash Equivalents:309,952,000.00
Long Term Debt:$197.48M
Net Debt:-$84.15M
DIVISION II: FINANCIAL STATEMENTS ANALYSIS
A. Income Statement Analysis

Revenue Components (2)

Revenue TTM: $1.57B
Linear Growth: 33.4%
📊 Click to view full ZETA Revenue analysis & methodology →
Cost Of Revenue Ttm:$636.55M

Profitability Breakdown (2)

Gross profit TTM: $934.32M
Linear Growth: 31.2%
📊 Click to view full ZETA Gross Profit analysis & methodology →
$24.68M

Bottom Line Performance (3)

-$36.58M
Income Before Tax:-$41.11M
Ebitda Ttm:118,779,000.00

Operating Expenses (5)

Operating Expenses:1,546,202,000.00
R And D Expense:146,967,000.00
Sga Expense:266,127,000.00
Income Tax Expense:-$7.36M
Interest Expense:1,533,000.00

Expense Ratios (3)

R And D To Revenue Percentage:33.2%
Sga To Revenue Percentage:60.1%
Ebitda Margin:7.6%
B. Balance Sheet Analysis

Asset Composition (5)

Total Assets:$1.47B
Current Assets:$677.73M
Ppe Net:18,495,000.00
Goodwill:524,708,000.00
Intangible Assets:$185.35M

Liability Structure (4)

Total Liabilities:541,347,000.00
Current Liabilities:284,573,000.00
Long Term Debt:$197.48M
Short Term Debt:$28.33M

Equity & Capital (3)

Equity:$926.50M
Retained Earnings:-$1.06B
Common Stock:0.00

Working Capital Items (3)

Accounts Receivable:327,132,000.00
Inventory:0.00
Accounts Payable:165,243,000.00

Special Items (2)

Contract Liabilities:33,859,000.00
Stock Based Compensation:52,115,000.00
C. Cash Flow Analysis

Operating Activities (2)

Operating cash flow TTM: $213.84M
Linear Growth: 41.0%
Free cash flow TTM: $199.75M
Linear Growth: 53.1%
📊 Click to view full ZETA Free Cash Flow analysis & methodology →

Investment Activities (2)

Investing Cash Flow:-$55.55M
Capital Expenditures Ttm:14,091,000.00

Financing Activities (3)

Financing Cash Flow:-$25.67M
Dividends Paid Ttm:0.00
Stock Repurchase:0.00

Capital Transactions (3)

Common Stock Issuance:0.00
Long Term Debt Issuance:$10.00M
Long Term Debt Repayments:$2.50M

Non-Cash Items (1)

Depreciation Amortization Ttm:94,104,000.00
DIVISION III: OPERATIONAL METRICS
A. Per Share Analysis

Earnings Per Share (3)

EPS (Basic TTM):-0.17
-$0.17
Earnings Per Share Ttm:-$0.15

Revenue & Cash Per Share (3)

Sales Per Share Ttm:6.40
Operating Cash Flow Per Share:$0.81
Fcf Per Share Ttm:0.81

Book Value & Capital (2)

Book Value Per Share:$3.78
Cash Per Share:1.26

Dividend Policy (1)

Dividend Payout Ratio:-999.00x
B. Operational Efficiency

Asset Utilization (2)

Asset Turnover Ttm:1.13x
Working Capital Turnover Ttm:4.00x

Receivables Management (2)

Receivables Turnover Ttm:4.80x
Days Sales Outstanding Ttm:76.01

Inventory Management (2)

Inventory Turnover Ttm:-999.00x
Days Inventory Outstanding Ttm:-999.00

Payables & Cash Cycle (2)

Days Payable Outstanding:94.75
Cash Conversion Cycle:-1,017.74
C. Quality & Risk Metrics

Financial Quality Scores (2)

Financial Strength Score:100.00
Quality Score:55.00

Market Metrics (2)

Beta:0.00x
Volatility Category:unknown
DIVISION IV: INVESTMENT ANALYSIS
A. Value Investment Framework

Owner Earnings Analysis (3)

Owner earnings TTM: $199.75M
Linear Growth: 53.2%
📊 Click to view full ZETA Owner Earnings analysis & methodology →
Owner Earnings Per Share:$0.81
Owner Earnings Yield:$2.67

Growth Assessment (1)

Owner Earnings Growth Rate:$53.15

Damodaran Growth Analysis (4)

Reinvestment Rate:173.4%
Fundamental Growth Rate (g):3.8%
Market-Implied Growth Rate:50.0%
Brina Gap:
-46.2%
☷ Click to view full ZETA Brina Gap analysis →

Intrinsic Value Models (1)

Intrinsic Value:
$6.22B
📊 Click to view full ZETA DCF valuation →

Margin of Safety (1)

Margin Of Safety:
-20.5%
📊 Click to view full ZETA valuation analysis →

Return Scenarios (2)

Theoretical 5-Year Return:
15.6%
📊 Click to view full ZETA expected return analysis →
Forward Expected Return (Yield + Growth):
6.5%
📊 Click to view full ZETA expected return analysis →

Investment Assessment (1)

Buffett Assessment:Overvalued
B. Log-Linear Regression Growth Analysis

Growth Rates (Log-Linear Regression) (1)

Revenue Growth Rate (Linear):33.4%

Cash Flow Growth Rates (2)

Free Cash Flow Growth Rate (Linear):53.1%
Operating Cash Flow Growth Rate (Linear):41.0%

Other Growth Rates (3)

Gross Profit Growth Rate (Linear):31.2%
Book Value Growth Rate (Linear):85.1%
Owner Earnings Growth Rate:$53.15
C. Company Profile & Context

Corporate Information (6)

Symbol:ZETA
Company Name:ZETA GLOBAL HOLDINGS CORP.
Sector:Technology
Industry:Software
Exchange:NYSE
Country:United States

Market Classification (3)

Market Cap Category:N/A
Price Category:medium
Volume Category:N/A

Share Structure (3)

Shares Outstanding:245.34M
Shares Outstanding Basic:245.34M
Shares Outstanding Diluted:256.58M

Data Processing Info (3)

Processing Version:v3.0
Last Updated:2026-08-30 04:44:05 UTC
Data Timestamp:2026-08-30T04:44:05.231742
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