Does ZETA GLOBAL HOLDINGS CORP. have an economic moat?

Based on its FY2025 SEC filings, the Moat Index scores ZETA GLOBAL HOLDINGS CORP. (ZETA) 56.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 86, capital discipline 44.

How has ZETA's Moat Score changed over time?

The record logs 3 readings since Jul 17, 2026; the latest reads 56.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

The Moat Index

ZETA GLOBAL HOLDINGS CORP.

ZETA · Technology · $4.8B mkt cap · FY2025 filings · Shallow moat ·

Doesn't clear the bar

Shallow moat

The four filters

Pricing power100

Median gross margin 61.9% over 7y, very stable.

Returns on capital0

Median ROIC -56.9%, above the 9% hurdle in 0% of years.

Balance-sheet safety86

Net cash position — no leverage risk.

Capital discipline44

Owner earnings trend unclear, share count n/a.

Margin of safety

Above valueOn sale

No price data

Owner earnings (normalized): —
Est. intrinsic value / share: —
Recent price: $21.68
Discount to value: No price data

Conservative model: 9% discount rate, 0% assumed growth (capped at 4%), maintenance capex ≈ min(capex, D&A).

8 years of fundamentals

The business, in plain English

ZETA GLOBAL HOLDINGS CORP. booked $1.3B of revenue in FY2025 in the Technology sector and kept 60.6% of it as gross profit — a high-margin business by that measure. After every other cost, −2.4% of each revenue dollar reached the bottom line.

Across the filed record, revenue grew from $306.1M (FY2019) to $1.3B (FY2025) — about 27.3% a year compounded over 6 years.

It earned 0.6% on invested capital in FY2025, with a median of −56.9% across 5 filed years. The Returns on Capital filter above scores it 0/100.

The balance sheet carried $197.1M of total debt in FY2025 against $26.7M of owner earnings — roughly 7.4 years of owner earnings to retire it all. Balance-Sheet Safety scores it 86/100.

The share count rose 598.9% between FY2019 and FY2025 — existing owners have been diluted over the record. Capital Discipline scores it 44/100.

Put together: Pricing Power is the strongest of the four filters (100/100) and Returns on Capital the weakest (0/100), which is how ZETA lands at 56/100 — a Shallow moat.

This breakdown is generated from the filed numbers and sub-scores above — no outside narrative, no estimates. Where a filing doesn’t disclose an input, the sentence that would need it is omitted instead of guessed.

RevenueSales, as filed$1.3B FY2025

Gross marginRevenue kept after cost of goods60.6% FY2025

Return on invested capitalOperating profit on the capital employed0.6% FY2025

Owner earningsCash an owner could take out$26.7M FY2025

Gaps in a line mean that item isn’t in ZETA’s filings for that year — the series is never interpolated or estimated. The Table view lists every filed value, including operating and net margins, total debt, and share count.

Moat Score history

Moat Score over timeLast scored reading of each day, on the 0–100 scale56.0 / 100

Score history begins Jul 17, 2026 — the record builds from here and can’t be backfilled.

Tier changesSame-methodology crossings of the Wide / Narrow / Shallow bars

None yet — ZETA has read Shallow moat for every logged capture since Jul 17, 2026.

Scores are logged append-only and never overwritten — this record can’t be backfilled, which is exactly why it’s worth keeping.

Technology context

#164 of 532 scored Technology companies, ranked by Moat Score.

Nearest peers by Moat Score

#162IIIV i3 Verticals, Inc.56.1 out of 100, Shallow moatShallow moat
#163NTNX NUTANIX, INC.56.0 out of 100, Shallow moatShallow moat
#165CLFD CLEARFIELD, INC.55.9 out of 100, Shallow moatShallow moat
#166ENS ENERSYS55.8 out of 100, Shallow moatShallow moat

Compare ZETA with its nearest peers →All Technology companies on the Index →

Common questions about ZETA

Does ZETA GLOBAL HOLDINGS CORP. have an economic moat?: Based on its FY2025 SEC filings, the Moat Index scores ZETA GLOBAL HOLDINGS CORP. (ZETA) 56.0 out of 100 — a Shallow moat. The four filters behind that score (each 0–100): pricing power 100, returns on capital 0, balance-sheet safety 86, capital discipline 44.
How has ZETA's Moat Score changed over time?: The record logs 3 readings since Jul 17, 2026; the latest reads 56.0 out of 100 (shallow moat). No tier changes on record yet. The history is append-only — readings are only ever added, never rewritten.

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Scored from primary SEC filings via the public methodology. Educational only — not a recommendation to buy or sell ZETA. See the disclaimer.