At a glance
Ziff Davis Inc is worth $1.90B, about 48 times its fiscal 2025 earnings. Revenue grew 3.5% to $1.45B in fiscal 2025, with 3.3% kept as profit; over 5 years it has grown 4.6% a year. It pays no dividend; it spent $624.1M buying back its shares over FY2021–FY2025. The stock returned +62.8% over the past year with dividends reinvested and −15.5% a year over five years, against +11.5% and +11.7% for the S&P 500. At its worst it fell 39.5% in the 2022 bear market (S&P 500: 24.5%), and is still below its earlier high.
The business in plain English
Ziff Davis, formerly called J2 Global, is a digital media and internet company that owns a large group of websites and apps. Its brands include CNET, PCMag, Mashable and ZDNET in technology; RetailMeNot and Offers.com in shopping; IGN and Humble Bundle in gaming; and Everyday Health Group in health. These sites earn money mainly from advertising and from performance marketing. That means finding sales leads for advertisers, or earning a commission when a reader clicks through a listed deal and makes a purchase.
Two other segments sell subscriptions and software licenses. Connectivity sells broadband network data and wi-fi testing hardware and software to companies that run or rely on internet networks. Cybersecurity & Martech (short for marketing technology) sells cloud-based security, privacy and digital marketing tools to consumers and businesses. The company describes the margins of these two units as relatively stable and predictable from quarter to quarter.
In the year ended December 31, 2025, revenue was $1.45 billion. Health & Wellness was the largest segment at 27.7%, followed by Technology & Shopping (24.6%), Cybersecurity & Martech (19.2%), Connectivity (15.9%) and Gaming & Entertainment (12.6%). The United States supplied 84% of revenue. Acquisitions are central to the strategy: from 2012 through 2025, Ziff Davis spent about $3.3 billion on nearly 100 of them.
Price history
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ZD +62.8% over the year to Oct 28, 2026, total return with dividends reinvested.
How it makes money
By business segment
| Health & Wellness | $402.4M | 27.7% |
| Technology & Shopping | $356.6M | 24.6% |
| Cybersecurity & Martech | $278.0M | 19.2% |
| Connectivity | $230.7M | 15.9% |
| Gaming & Entertainment | $183.6M | 12.6% |
By geography
| United States | $1.22B | 84% |
| All other countries | $232.0M | 16% |
Latest results
- In Q2 FY2026 (ended Jun 30, 2026), revenue was $286.7M, down 2.7% from a year earlier, and net income was $624.5M (+2270.5%).
- For fiscal 2025, revenue was $1.45B (+3.5% year over year; +4.6% a year from FY2020 to FY2025) with a 3.3% net margin.
Financial health check
| Revenue growth a year (FY2020–FY2025) | +4.6% watch |
|---|---|
| Operating margin | 12.6% watch |
| Free cash flow margin | 19.8% good |
| Return on equity (FY2025) | 2.7% weak |
| Return on assets (FY2025) | 1.3% weak |
| Net cash (cash minus debt) | $838.4M good |
| Fiscal year | Revenue | Net income | Free cash flow |
|---|---|---|---|
| FY2020 | $1.16B | $150.7M | $387.5M |
| FY2021 | $1.42B | $496.7M | $402.8M |
| FY2022 | $1.39B | $63.8M | $230.3M |
| FY2023 | $1.36B | $41.5M | $211.2M |
| FY2024 | $1.40B | $63.0M | $283.7M |
| FY2025 | $1.45B | $47.4M | $287.9M |
Valuation snapshot
| Market value | $1.90B |
|---|---|
| P/E ratio | 48.1 |
| Dividend yield | 0% |
Rank among 1514 US companies
Market value at each year end
Ziff Davis’s market value went from $5.35B at the end of 2021 to $1.90B on Oct 28, 2026, down 64%; since the end of 2025 it is up 37%.
Show as a table
| Year end | Market value | Change |
|---|---|---|
| Oct 28, 2026 | $1.90B | +36.7% |
| 2025 | $1.39B | -40.2% |
| 2024 | $2.32B | -24.8% |
| 2023 | $3.09B | -17.2% |
| 2022 | $3.73B | -30.2% |
| 2021 | $5.35B |
Price behavior
| YTD | 1 yr | 3 yr | 5 yr | 10 yr | |
|---|---|---|---|---|---|
| ZD price data to Oct 28, 2026 | +57.5% | +62.8% | -1.7% | -15.5% | — |
Show as a table
| Year | Price data |
|---|---|
| 2026 (to date) | +57.5% |
| 2025 | -35.3% |
| 2024 | -19.1% |
| 2023 | -15.1% |
| 2022 | -28.6% |
| 2008 financial crisis stocks fell Oct 9, 2007 – Mar 9, 2009 | Before this security existed |
|---|---|
| 2020 COVID crash stocks fell Feb 19, 2020 – Mar 23, 2020 | Before this security existed |
| 2022 bear market stocks fell Jan 3, 2022 – Oct 12, 2022 | Lost 38.5% over that stretch · deepest drop along the way 39.5%, not recovered by the end of the data |
Insider activity
Form 4 filings from 2025-10-29 to 2026-10-29 (25 read): 0 open-market purchases and 10 sales ($2.1M).
| Date | Insider | Type | Value |
|---|---|---|---|
| Jun 10, 2026 | Bret Richter Chief Financial Officer | sell | $844K |
| Jun 5, 2026 | Jeremy Rossen EVP/General Counsel | sell | $376K |
| Aug 10, 2026 | Jeremy Rossen EVP/General Counsel | sell | $210K |
| May 28, 2026 | Jeremy Rossen EVP/General Counsel | sell | $199K |
| Jun 3, 2026 | Jana Barsten Director | sell | $151K |
Who owns it
Large shareholders (13G filings)
| BlackRock, Inc. | 15% | Jun 30, 2025 |
| JANUS HENDERSON GROUP Ltd. | 10.3% | Aug 31, 2026 |
| JANUS HENDERSON GROUP PLC | 8.4% | Sep 30, 2025 |
| Dimensional Fund Advisors LP | 6.6% | Sep 30, 2026 |
| Vanguard Portfolio Management | 6.19% | Mar 31, 2026 |
| Vanguard Capital Management | 5.28% | Mar 31, 2026 |
| Legal & General Group Plc | 4.9% | Jun 30, 2026 |
| ArrowMark Colorado Holdings, LLC | 3.46% | Dec 31, 2025 |
ETFs with the most weight in ZD
| MVPA Miller Value Partners Appreciation ETF | 3.18% |
| FITE SPDR S&P Kensho Future Security ETF | 1.07% |
| SFLO VictoryShares Small Cap Free Cash Flow ETF | 0.96% |
| MYLD Cambria Micro and SmallCap Shareholder Yield ETF | 0.87% |
| SYLD Cambria Shareholder Yield ETF | 0.7% |
| FYT First Trust Small Cap Value AlphaDEX Fund | 0.64% |
| NIXT Research Affiliates Deletions ETF | 0.53% |
| CAFG Pacer US Small Cap Cash Cows Growth Leaders ETF | 0.46% |
What could go wrong
- Growth leans heavily on acquisitions. Acquisitions are central to Ziff Davis's growth plan, with about $3.3 billion spent on nearly 100 deals from 2012 through 2025. Fewer suitable deals could slow growth, and completed deals can disrupt operations.
- Ad revenue rests on short-term deals. Most digital media revenue comes from short-term advertising arrangements. Advertisers can cut spending quickly, especially when the economy weakens, so revenue at sites like CNET and IGN could fall fast.
- Dependence on search engine traffic. Ziff Davis depends partly on search engines to bring visitors to its sites. If search sends fewer readers, advertising revenue and commissions on purchases made through its shopping sites could decline.
- Generative AI could misuse its content. Ziff Davis warns that makers and users of generative AI (tools that write text and answer questions) may use its articles and reviews without permission, infringing its intellectual property rights.
- Health data and healthcare regulation. Health & Wellness, the largest segment, handles health-related information and is exposed to changes in the healthcare industry. Privacy failures or tighter healthcare rules could bring lawsuits, regulatory action or lost revenue.
- Debt includes convertible notes that could dilute. Debt was $867.6 million as of June 30, 2026, including convertible notes that can turn into shares and dilute existing owners. Cash and investments of $1.71 billion exceeded the debt on that date.
Recent events
- Quarterly results released; Investor presentation or announcement
- Major agreement signed; Acquisition or sale of assets completed
- Investor presentation or announcement
- Quarterly results released; Shareholder vote results; Investor presentation or announcement
- Major agreement signed
- Other company announcement
- Investor presentation or announcement
- Quarterly results released; Investor presentation or announcement
- Investor presentation or announcement
- Investor presentation or announcement
For income and retirement investors
Ziff Davis does not pay a dividend, and its yield was 0% as of October 28, 2026, so owning the shares produces no regular cash income. Instead, the company repurchases its own shares, which shrinks the share count but pays holders nothing directly. It spent $624.1 million on buybacks from FY2021 through FY2025, including $173.8 million in FY2025, when free cash flow (cash left after running and investing in the business) was $287.9 million. Shares outstanding fell 28.9% between August 5, 2021 and August 4, 2026.
During the 2022 market slump, Ziff Davis shares fell 39.5% from their January 4, 2022 peak to their September 30, 2022 low and had not regained that peak as of October 28, 2026. The deepest drop over about five years of price history was 80.1%. That record is too short to show the 2008 or 2020 crashes. Single stocks carry more risk than diversified funds.
Questions investors ask
How does Ziff Davis make money?
Ziff Davis makes money mainly from advertising on its websites and from subscriptions and software licenses. Its media brands, including CNET, PCMag, IGN, Mashable and Everyday Health, sell display and video ads and find sales leads for advertisers. Deal sites such as RetailMeNot and Offers.com earn commissions when readers click through and make purchases. Its Connectivity and Cybersecurity & Martech segments sell subscriptions and licenses to businesses and consumers. Revenue was $1.45 billion in the year ended December 31, 2025, and Health & Wellness was the largest segment at 27.7%.
Does Ziff Davis pay a dividend?
No. Ziff Davis paid no dividends from FY2021 through FY2025, and its dividend yield was 0% as of October 28, 2026. It returns cash through share buybacks instead. It spent $624.1 million on them over those five years, including $173.8 million in FY2025. Buybacks reduce the number of shares, which can raise earnings per share, but they provide no regular income. Investors who need cash payments from their holdings would not get them from this stock.
Is Ziff Davis the same company as J2 Global?
Yes. Ziff Davis, Inc. was previously named J2 Global, Inc., and before that J2 Global Communications and JFAX.COM. The company also distributed shares of another company, Consensus Cloud Solutions, Inc., to its stockholders. Ziff Davis warns that if that distribution does not qualify as generally tax-free for US federal income tax purposes, the company, Consensus and Ziff Davis stockholders could face significant tax bills. Revenue from FY2019 onward was restated in later filings, so earlier figures aren't directly comparable.
Is Ziff Davis profitable?
Yes, though its net profit margin is thin. In the year ended December 31, 2025, net income was $47.4 million on $1.45 billion of revenue, a 3.3% margin. Free cash flow was far larger at $287.9 million. That is the cash left after running and investing in the business. In the quarter ended June 30, 2026, net income of $624.5 million was higher than that quarter's $286.7 million revenue, a sign of large items outside day-to-day operations. As of October 28, 2026, the shares traded at 48.1 times FY2025 earnings.
How has Ziff Davis stock performed?
Ziff Davis stock lost more than half its value over the five years to October 28, 2026. That was a 57% fall, or about 15.5% a year. The stock fell 28.7% in 2022, 15.1% in 2023, 19.1% in 2024 and 35.3% in 2025. It then rose 57.5% from the start of 2026 through October 28, 2026, and was up 62.8% over the year to that date. The deepest drop in about five years of price history was 80.1%.