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Quarterly report 2022-Q3
added 05-16-2026

Zendesk Financial Ratios 2021-2011 | ZEN

Brief overview of Zendesk's market valuation

Ratios are assessed across five available annual reports in the 2017–2021 interval.

The latest available valuation ratios are P/S 8.8x (median 11.71x), P/B 24.08x (median 20.87x), P/CF 69.39x (median 91.14x). The current ratio basket stands about 23.9% below the five-year comparison base. Earnings and risk trends should explain the discount.

End-period return metrics are ROE -45.7%, ROA -9.1%, ROCE -34.1%. Losses and negative capital returns make ordinary P/E-like references unstable or inapplicable.

Current PEG of 7.56x points to a premium over forecast earnings momentum.

The cash conversion cycle is 21.6 days versus 25.9 days initially. Turnover changed little.

Valuation takeaway

Zendesk's multiples look low against history, but fundamental returns do not yet provide convincing support.

Annual Financial Ratios Zendesk

2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011

P/E

-52.7 -76.2 -56.3 -54.4 -37.7 -22.8 -22.2 -19.2 - - -

P/S

8.8 16.1 11.7 11.9 8.9 7.1 9.0 10.2 - - -

EPS

-1.9 -1.9 -1.5 -1.2 -1.0 -1.1 -1.0 -1.3 -1.0 -1.7 -

EV (Enterprise Value)

13.3 B 17.9 B 10.4 B 7.82 B 3.98 B 2.31 B 1.78 B 1.31 B 13.9 M 45.6 M 11.5 M

EBITDA per Share

-1.08 -0.99 -1.12 -0.96 -0.74 -0.76 -0.74 -1.02 -0.77 -1.1 -

EV/EBITDA

-102.8 -157.9 -83.7 -77.1 -53.6 -32.7 -28.2 -23.9 -0.8 -2.1 -

PEG

-6.38 -10.93 -14.81 -7.81 7.56 1.75 -1.04 0.09 - - -

P/B

24.1 38.5 20.9 17.1 10.9 7.4 6.4 11.4 - - -

P/CF

69.4 629.0 107.1 90.7 91.1 90.8 -83.6 -47.0 - - -

ROE %

-45.71 -50.52 -37.04 -31.44 -28.84 -30.18 -27.01 -59.29 48.77 80.67 -

ROA %

-9.12 -10.11 -11.20 -10.59 -17.27 -20.54 -19.89 -32.76 -24.34 -38.04 -

ROCE %

-34.07 -10.64 -15.74 -15.41 -29.32 -29.55 -25.68 -51.82 -43.16 -56.26 -

Current Ratio

1.2 1.3 1.4 1.5 2.5 2.7 3.3 2.2 1.4 0.7 -

DSO

64.5 58.0 47.6 43.4 40.0 37.1 32.9 26.9 18.3 - -

DPO

42.9 39.1 43.0 22.3 14.1 27.0 38.3 33.5 27.4 - -

Operating Cycle

64.5 58.0 47.6 43.4 40.0 37.1 33.0 26.9 18.3 - -

Cash Conversion Cycle

21.6 18.9 4.6 21.1 25.9 10.2 -5.3 -6.5 -9.1 - -

All numbers in USD currency

Quarterly Financial Ratios Zendesk

2022-Q4 2022-Q3 2022-Q2 2022-Q1 2021-Q4 2021-Q3 2021-Q2 2021-Q1 2020-Q4 2020-Q3 2020-Q2 2020-Q1 2019-Q4 2019-Q3 2019-Q2 2019-Q1 2018-Q4 2018-Q3 2018-Q2 2018-Q1 2017-Q4 2017-Q3 2017-Q2 2017-Q1 2016-Q4 2016-Q3 2016-Q2 2016-Q1 2015-Q4 2015-Q3 2015-Q2 2015-Q1 2014-Q4 2014-Q3 2014-Q2 2014-Q1 2013-Q4 2013-Q3 2013-Q2 2013-Q1 2012-Q4 2012-Q3 2012-Q2 2012-Q1 2011-Q4 2011-Q3 2011-Q2 2011-Q1

EPS

- -0.48 -0.77 -0.55 - -0.45 -0.49 -0.42 - -0.35 -0.56 -0.38 - -0.31 -0.5 -0.41 - -0.32 -0.33 -0.28 - -0.28 -0.29 -0.28 - -0.27 -0.28 -0.3 - -0.22 -0.25 -0.25 - -0.25 -0.48 -0.45 - -0.22 -0.3 - - - - - - - - -

EBITDA per Share

- -0.22 -0.59 -0.41 - -0.09 -0.2 -0.24 - 0.04 -0.08 -0.26 - -0.07 -0.31 -0.32 - -0.07 -0.14 -0.23 - -0.04 -0.14 -0.2 - -0.07 -0.14 -0.22 - -0.06 -0.14 -0.19 - -0.14 -0.37 -0.35 - -0.05 -0.19 - - - - - - - - -

ROE %

-66.60 -78.22 -73.76 -56.05 -35.59 -45.05 -49.19 -46.11 -34.73 -42.56 -45.87 -40.78 -31.28 -39.71 -40.37 -34.92 -24.24 -33.29 -34.37 -34.72 -27.40 -36.05 -35.97 -35.83 -26.99 -33.46 -32.05 -29.50 -20.13 -35.76 -47.16 -48.94 -42.52 -32.24 -2.88 -9.02 - 10.28 13.73 - - - - - - - - -

ROA %

-8.95 -11.29 -11.50 -9.94 -7.19 -9.17 -10.07 -10.35 -8.09 -10.44 -12.25 -12.27 -9.39 -12.23 -12.85 -11.69 -8.44 -13.67 -16.58 -19.11 -16.48 -22.14 -22.87 -23.51 -18.01 -22.69 -22.49 -21.40 -15.02 -23.80 -29.81 -29.34 -24.46 -29.59 -27.66 -4.99 - -5.13 -6.85 - - - - - - - - -

ROCE %

-62.81 -71.12 -64.28 -44.65 -26.11 -32.70 -32.07 -32.10 -23.44 -31.54 -36.98 -39.79 -30.61 -39.06 -39.26 -35.62 -25.14 -34.43 -35.88 -36.48 -28.09 -36.87 -36.57 -35.87 -26.97 -33.40 -31.67 -29.01 -19.80 -35.34 -46.47 -47.99 -41.68 -31.71 -2.86 -8.58 - 9.96 13.31 - - - - - - - - -

Current Ratio

- 1.2 1.1 1.1 1.2 1.2 1.3 1.2 1.2 1.3 1.3 1.4 1.4 1.4 1.4 1.4 1.5 1.5 1.5 1.6 2.5 2.4 2.5 2.6 2.7 2.9 3.0 3.1 3.3 3.6 4.1 4.1 2.2 2.3 2.5 2.2 1.4 1.4 1.4 - - - - - - - - -

DSO

- 52.1 54.0 58.5 - 51.7 55.0 57.8 - 51.2 45.1 44.0 - 44.9 46.0 44.2 - 44.9 39.3 38.6 - 37.5 36.2 37.5 - 37.5 32.4 33.5 - 31.7 25.2 25.4 - 30.3 32.8 34.1 - 34.3 20.1 - - - - - - - - -

DPO

- 65.0 56.1 48.5 - 35.4 28.9 27.5 - 17.4 29.7 49.4 - 63.3 54.1 37.9 - 42.2 21.5 13.9 - 26.2 20.9 16.9 - 22.9 25.8 33.6 - 22.7 22.2 27.3 - 47.9 44.8 42.9 - 57.5 32.0 - - - - - - - - -

Operating Cycle

- 23.8 - 58.5 - 51.7 55.0 57.8 - 69.4 73.7 62.8 - 55.4 59.9 53.6 - 50.3 54.9 50.0 - 46.4 51.0 45.9 - 42.2 45.9 42.3 - 42.9 49.5 40.7 - 31.0 35.6 34.1 - 34.3 20.1 - - - - - - - - -

Cash Conversion Cycle

- -0.6 - 10.1 - 16.3 26.1 30.3 - 47.0 50.8 21.7 - -3.7 -0.8 8.3 - 17.6 20.1 24.2 - 32.0 35.2 29.9 - 24.8 27.8 12.9 - -7.1 -3.2 -4.3 - -6.2 -1.4 -8.7 - -23.2 -11.9 - - - - - - - - -

All numbers in USD currency

Multiples are an important financial analysis tool for the company Zendesk, allowing investors and analysts to quickly assess the company’s value and investment attractiveness based on the ratio of market indicators to the company’s financial performance. Essentially, multiples express how the market values the company relative to its earnings, revenue, equity, or other key metrics.

Advantages of Using Financial Ratios
  • Simplified Data Analysis
    Financial ratios transform large volumes of accounting data into compact and easily interpretable indicators, significantly simplifying the assessment of the company’s condition.
  • Comparability Between Companies
    Multiples standardize financial metrics, enabling objective comparison of companies of different sizes, industries, and market capitalizations.
  • Identification of Trends and Issues
    Regular analysis of ratios helps track the dynamics of financial health, identify strengths and weaknesses of the business, as well as potential risks.
  • Decision Support
    Financial multiples serve as an important tool for investors, creditors, and company management in making investment, credit, and managerial decisions.
  • Accelerated Assessment of Investment Attractiveness
    Ratios allow quick determination of key performance, liquidity, and financial stability indicators, facilitating prompt evaluation of companies’ attractiveness for investments.

Using multiples enables comparison between companies, even if they differ in size or industry, as they standardize financial data into ratios convenient for analysis. This is especially useful for evaluating companies where direct analysis of financial statements may be complex or require in-depth knowledge.

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