Zuora, Inc.

NYSE:ZUO Stok Raporu

Piyasa değeri: US$1.5b

This company has been acquired

The company may no longer be operating, as it has been acquired. Find out why through their latest events.

Zuora Bilanço Sağlığı

Finansal Sağlık kriter kontrolleri 5/6

Zuora şirketinin toplam hissedar öz sermayesi $184.2M ve toplam borcu $368.3M olup, bu da borç-öz sermaye oranını 200% seviyesine getiriyor. Toplam varlıkları ve toplam yükümlülükleri sırasıyla $857.1M ve $672.9M dir.

Anahtar bilgiler

199.98%

Borç/özkaynak oranı

US$368.35m

Borç

Faiz karşılama oranın/a
NakitUS$559.46m
EşitlikUS$184.19m
Toplam yükümlülüklerUS$672.88m
Toplam varlıklarUS$857.07m

Son finansal sağlık güncellemeleri

Analiz Makalesi • Jul 31

Does Zuora (NYSE:ZUO) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analiz Makalesi • Mar 09

Does Zuora (NYSE:ZUO) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analiz Makalesi • Jun 22

Is Zuora (NYSE:ZUO) Using Debt In A Risky Way?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Analiz Makalesi • Feb 16

Is Zuora (NYSE:ZUO) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...

Recent updates

Seeking Alpha • Feb 12

Zuora: Now Is The Time To Sell

Summary Zuora, Inc. stock is recommended as a SELL due to its $10 per share acquisition price, offering no upside potential. Significant insider selling suggests limited future value, raising concerns about the stock's prospects even with the acquisition in progress. The acquisition price matches the current market price, providing no additional gains and making holding the stock pointless. If the acquisition fails, investor confidence will plummet, and weak billings growth indicates softening demand, increasing the risk of holding the stock. Read the full article on Seeking Alpha
Seeking Alpha • Sep 08

Zuora: Cheap Valuation Trumps The Mixed Outlook Messaging

Summary Zuora's stock has underperformed despite a strong market, but its low valuation and profit expansion make it a prudent investment opportunity. The company raised its full-year revenue outlook and significantly boosted its profit outlook, despite lowering ARR growth expectations due to expected macro softness. Zuora's unique subscription-focused solutions, expanding profitability, and potential as an acquisition target bolster its long-term investment appeal. With steady revenue growth, expanding profit margins, and a bargain valuation, Zuora is a great buy-and-hold opportunity for patient investors. Read the full article on Seeking Alpha
Analiz Makalesi • Jul 31

Does Zuora (NYSE:ZUO) Have A Healthy Balance Sheet?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analiz Makalesi • Jun 28

Investors Don't See Light At End Of Zuora, Inc.'s (NYSE:ZUO) Tunnel

You may think that with a price-to-sales (or "P/S") ratio of 3.3x Zuora, Inc. ( NYSE:ZUO ) is a stock worth checking...
Seeking Alpha • Jun 25

Zuora: I Don't Expect The Shift Towards Subscription Model To Be Structurally Impaired

Summary Positive long-term growth outlook for ZUO due to increasing adoption of the subscription model in businesses. Evidence of demand traction with sustained dollar-based net revenue retention rate above 100%. Target price of $14 based on updated DCF model, recommending a buy rating for ZUO despite macro headwinds. Read the full article on Seeking Alpha
Seeking Alpha • May 23

Zuora Q1 Results: Still Some Life Left (Rating Upgrade)

Summary Zuora, Inc. stock has underperformed recently, but management's efforts to improve profitability make it a compelling investment at a low valuation. Zuora's subscription-based software business model and strong revenue growth make its near-term prospects encouraging. Despite challenges like a decline in retention rates, Zuora's improved financial performance and undervalued stock suggest a positive trajectory. Read the full article on Seeking Alpha
Analiz Makalesi • Apr 20

Is Now An Opportune Moment To Examine Zuora, Inc. (NYSE:ZUO)?

Zuora, Inc. ( NYSE:ZUO ), is not the largest company out there, but it saw a double-digit share price rise of over 10...
Analiz Makalesi • Mar 27

Is There An Opportunity With Zuora, Inc.'s (NYSE:ZUO) 36% Undervaluation?

Key Insights Using the 2 Stage Free Cash Flow to Equity, Zuora fair value estimate is US$13.68 Current share price of...
Analiz Makalesi • Mar 09

Does Zuora (NYSE:ZUO) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Seeking Alpha • Mar 05

Zuora: Focus On That Bottom Line

Summary Zuora, a software company specializing in revenue management tools for subscription companies, is poised to rebound after a consistent drain in its share price. The company has shown strong profitability and is projected to expand its pro forma operating margins and grow its ARR. Zuora's low valuation and unique product make it a potential target for acquisitions, further boosting its prospects. The stock trades at just ~2x forward revenue and ~12x forward FCF. Read the full article on Seeking Alpha
Analiz Makalesi • Feb 18

Investors Aren't Buying Zuora, Inc.'s (NYSE:ZUO) Revenues

You may think that with a price-to-sales (or "P/S") ratio of 2.8x Zuora, Inc. ( NYSE:ZUO ) is a stock worth checking...
Seeking Alpha • Feb 02

Zuora: A Company With Potential, Issues, And A Takeover Ready Valuation

Summary ZUO’s revenue growth has been strong during the last decade (+22%), although there appears to be a slowdown to low single-digits in recent peers. Despite consistently upselling its existing customer base, we feel ZUO is struggling with competitive pressures, restricting its ability to acquire customers at a considerable rate. This has restricted its ability to progress margins to the level expected by investors. We believe ZUO can reach an adj. EBITDA-M of ~15%. ZUO’s financial performance is underwhelming relative to its peers, although the business should be able to close the gap over time. It is critical that it maintain its upselling momentum. ZUO’s valuation is heavily depressed, with a >150% discount to its peers. We believe this, alongside its NTM FCF yield of 5%, makes it an attractive takeover target, protecting downside risk. Read the full article on Seeking Alpha
Seeking Alpha • Dec 14

A First Look At Zuora

Summary Today, we take a deeper look at Zuora, Inc., a SaaS company that provides a cloud-based subscription management platform. The company is posting revenue growth and marching toward profitability, but the shares are seeing some consistent insider selling as well. An analysis around Zuora, Inc. follows in the paragraphs below. Read the full article on Seeking Alpha
Seeking Alpha • Oct 04

Zuora: Valuation To Rerate As Growth Reaccelerates

Summary I expect growth acceleration driven by a sales strategy pivot and the potential for reversion to higher valuation multiples. Zuora offers a product that supports subscription and usage-based businesses in managing their order-to-cash cycles, filling a gap in the market. ZUO's shift to targeting smaller markets with a single product is expected to help mitigate near-term weaknesses and provide long-term growth opportunities. Read the full article on Seeking Alpha
Seeking Alpha • Aug 24

Zuora: Confidently Buy The Dip At 2x Revenue (Rating Upgrade)

Summary Zuora stock presents a buying opportunity after a significant pullback, with strong growth potential and a unique product catering to fellow subscription companies. Operating margins and cash flow are also expanding sharply. Especially with positive pro forma operating income and a low valuation, Zuora could be an acquisition target. The stock trades at just ~2x consensus revenue estimates for next year. Read the full article on Seeking Alpha
Seeking Alpha • Jul 27

Zuora: A Pioneering Force In The Subscription Management Space

Summary Zuora, Inc. is a leading player in the growing Subscription Management product market. The company's competitive edge lies in its ability to handle complex billing scenarios, successful integrations, and a dynamic platform that adjusts billing and cash collection in near-real time. The stock is trading at a valuation of 2.8x, making it an attractive investment opportunity. Read the full article on Seeking Alpha
Analiz Makalesi • Jun 22

Is Zuora (NYSE:ZUO) Using Debt In A Risky Way?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
Seeking Alpha • Jun 16

Zuora: Solid Performance But Fully Valued

Summary ZUO has been resilient despite the macro downturn. Growth was ~11% in Q1, with share price up ~80% YTD. Enterprise subscription shift and product innovation will continue to drive growth, but tight competition remains. My target price model suggests that ZUO is fully valued. I rate the stock neutral. Read the full article on Seeking Alpha
Analiz Makalesi • Feb 16

Is Zuora (NYSE:ZUO) A Risky Investment?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Seeking Alpha • Jan 22

Zuora: Perfect Rebound Play

Summary Shares of Zuora have slipped nearly 60% over the past year. Despite pessimism surrounding this name, Zuora has maintained high-teens growth on a constant-currency basis. Its niche aspect of providing revenue management software specifically for subscription businesses makes it a nice potential acquisition target. Trading below 2x forward revenue, Zuora is one of the cheapest SaaS stocks on the market. To me, the markets seem ready for a tear after a year of disappointing news. In my view, the best way to play the upcoming rebound is to focus our portfolio on "growth at a reasonable price" stocks - in particular in the small and mid-cap space, which have seen giant corrections over the past year. Zuora (ZUO) is a name worth watching, and I've continued to slowly add to my position in this stock as it trades sideways. A SaaS company that provides revenue management software specifically for other subscription and recurring-revenue businesses, Zuora is still exhibiting steady growth and has hit above-breakeven operating margins on a pro forma basis. These are all the ingredients that can help the stock reverse from a -60% decline over the past twelve months. Data by YCharts Revisiting the bull case for Zuora I am very bullish on Zuora in this market. Even though this company is an off-the-radar play that isn't getting much mainstream attention, I think there are plenty of fundamental qualities in this stock that can unlock tremendous value. Here is my full bullish thesis on Zuora: Subscription-based business models are becoming dominant. Given the fact that more and more businesses are adopting this type of model, Zuora's base of potential customers has widened significantly. Zuora's uniqueness in this regard is also important to point out: companies can choose a regular ERP, but Zuora's subscription-focused solutions help to address common pain points. Innovation track record is strong; the product portfolio is expanding. There's virtually no other company that markets itself as a purpose-built platform for subscription companies. Zuora has also done a good job at fleshing out its portfolio of solutions, ranging from revenue management to billing tools to CPQ (configure, price and quote) applications. Zuora grows along with its customers. As Zuora's clients grow their subscriber bases, so does Zuora's opportunity to monetize and grow alongside its customers. The company has noted that upsells have hit a "record pace", and highlighted several key milestones like GoPro's (GPRO) subscription-based storage and insurance program (a key feature of the company's planned turnaround) hitting one million subscribers. Offloading services work to partners. As Zuora has scaled, it has also been able to ramp up its third-party vendors and resellers to take on more of the unprofitable services/onboarding work that typically acts as a drag on software-company margins. Zuora's mix of subscription versus services revenue has grown over the past several quarters, helping boost gross margins and illustrating where Zuora would prefer to be at scale. Acquisition possibility, especially after the company hit breakeven. While I never like to base any investment decision based on high hopes that the stock will get acquired, Zuora checks off a lot of boxes for being acquired: it's small with just a ~$1 billion market cap; it offers a very unique product that many larger software companies may want to get their hands on, especially during times when organic growth is fading; and it has positive pro forma operating margins. Valuation check-up The most compelling reason to be long on Zuora, however, is its valuation. At current share prices just under $7, Zuora trades at a market cap of $899.1 million. After we net off the $400.6 million of cash and $208.4 million of debt on Zora's most recent balance sheet, the company's resulting enterprise value is $706.9 million. For the next fiscal year FY24 (which for Zuora is the fiscal year ending in January 2024), Wall Street analysts have a consensus revenue target of $432.4 million for the company, representing 10% y/y growth (data from Yahoo Finance). This puts Zuora's valuation at just 1.6x EV/FY24 revenue. Needless to say, this is one of the cheapest multiples in the enterprise software sector. Post-earnings malaise Now, Zuora is up about ~20% from its December lows in the mid-$5s, but the company is still under the cloud of a poorly received earnings release in early December. The main issue here was Zuora's outlook. Zuora outlook (Zuora Q3 earnings release) As shown above, the company guided to $99.5-$101.5 million in total revenue for Q4, and $87.5-$88.5 million in subscription revenue, which represents midpoint growth rates of 11% y/y and 14% y/y, respectively. This represents deceleration from 14% y/y total growth and 17% y/y subscription growth in Q3. Further, Zuora posted an initial growth outlook for FY24 as well that calls for subscription revenue growth to fall to the low teens in a range of 11-14% y/y. The company is baking in recent trends and sales cycle elongations in posting this outlook. Per CFO Todd McElhatton's remarks on the Q3 earnings call: As many other software companies have reported, we are also experiencing pressure from the current economic trends. During Q3, we encountered some elongated sales cycles and some deals requiring additional levels of approval. As I speak with customers engagement and demand for our solutions continues to be high. In fact, top of funnel generation has grown by double digits. As a result, we are directing our sales efforts in the areas we saw the most success over the past couple of years. We are directing resources towards our alliance partners versus internal demand generation. Similarly, we are focused on areas to help our customers reduce costs as they navigate the current environment."
Seeking Alpha • Dec 16

Zuora: Solid Subscription Revenue Despite Headwinds

Summary Zuora is a software company that has developed a subscription solution for large organizations. The company reported solid financial results for Q3 FY23, as it beat revenue expectations and non-GAAP earnings. Zuora recently acquired subscription experience platform Zephr for $44 million in cash. Zuora hopes this will help its expansion into the media and publishing industry. Zuora (ZUO) is a software company that helps other companies set up their own subscription business. The company was a pioneer in the industry and its founder Tien Tzuo, even wrote a book on the subscription industry called "Subscribed". Zuora effectively became a thought leader in the industry and then used its clout to win major clients. Subscription models are my favorite type of business model as they generate consistent revenue, are easy to upsell, and are also a low-friction payment method for the customer. Zuora effectively offers an enterprise-grade subscription and revenue management solution to companies. Companies can build their own subscription service with various software tools but of course, it's easier to just use Zuora. In my previous post on Zuora, I discussed its product and business model in detail. But in this post I'm going to break down its recent financials and valuation, let's dive in. Data by YCharts Third Quarter Financials Zuora reported strong financial results for the third quarter of the fiscal year 2023. Revenue was $101.1 million which beat analyst expectations by $861,000 year over year and increased by 13% year over year. This revenue was slightly impacted by unfavorable foreign exchange headwinds, as it increased by 17% year over year on a constant currency basis. Zuora makes the majority (86%) of its revenue from subscription services... as you would expect. In this case, Subscription revenue was $86.6 million which increased by 17% year over year or 20% on a constant currency basis, which is solid. Data by YCharts Zuora also reported $359.7 million in Annual Recurring Revenue [ARR] which increased by 19% year over year and is consistent with the prior year despite economic challenges. A key metric to analyze is "transaction volume" which is an indicator of its customer's usage of Zuora solutions. In this case, the company reported $21.5 billion in transaction volume which increased by 15% year over year or 17% on a constant currency basis. The company has also continued to grow "upmarket" increasing its customers with at or above $100,000 in average contract value [ACV], by 6.9% year over year to 770 customers. These larger customers represent 95% of the company's business which is substantial. Overall, this is positive as a fewer number of larger customers tends to be easier to manage. In addition, large enterprises tend to have high contract value. In the third quarter alone, the company closed six deals with an average contract value [ACV] of $500,000 or more, with two deals over $1 million. Its new customer wins include a range of companies across many industries. From camera manufacturer Canon to Michelin the tire company, and Suzuki Motor Corporation. Another notable customer win was Enercare which is one of Canada's largest energy solutions companies. Zuora replaced Enercare's existing billing system and offered new features such as product subscriptions, rental and maintenance plans for its products. Zuora continues to offer strong value to its customers with a dollar-based retention rate of 109%, which means buyers are staying with the platform and spending more. Acquisition of Zephr Zuora has recently acquired the subscription experience company Zephr for $44 million in cash. Zephr specializes in subscription solutions for the digital publishing and media industry. For example, one of its clients is News Corp Australia which reported a 13% year-over-year increase in subscriber growth thanks to the usage of Zephr. Zuora plans to use Zephr as a cross-sell tool and a foothold with a greater number of media and publishing clients. Overall I see the synergies, but given the macroeconomic environment, I think it would have made more sense to delay acquisitions unless the business got a really good deal, which is hard to calculate. Profitability and Expenses Zuora reported a non-GAAP subscription gross margin of 79%, which was high but it did decline by 90 basis points year over year. A positive is this was driven by infrastructure investments and thus will likely not be a negative long term. Its non-GAAP operating income was $0.6 million, which was better than the $1.2 million operating loss in the prior year. This improvement was driven by revenue growth and more disciplined investments. The company has recently announced the layoff of 11% of its employees, in order to match the current macroeconomic climate. An issue with this is in the short term, the company needs to pay out $9.5 million for its employee severance package and transition-related costs. Moving forward, the company expects to save ~$29 million from a combination of actions, which should improve the bottom line substantially. Data by YCharts Zuora has a strong balance sheet with $401 million in cash and cash equivalents. In addition to total debt of $258 million, of which just $600,000 is current debt and thus manageable. Advanced Valuation In order to value Zuora, I have plugged the latest financials into my advanced valuation model which uses the discounted cash flow method of valuation. I have forecasted 10% revenue growth for next year, which I expect to be muted due to the uncertain macroeconomic environment. However, in years 2 to 5, I have forecasted a rebound to 15% per year over the next 2 to 5 years. Zuora stock valuation 1 (created by author Ben at Motivation 2 Invest) To increase the accuracy of the valuation, I have capitalized R&D expenses which have lifted net income. In addition, I have forecasted its pre-tax operating margin to increase to 24% over the next 8 years, which is the average for the software industry.

Finansal Durum Analizi

Kısa Vadeli Yükümlülükler: ZUO 'nin kısa vadeli varlıkları ( $682.1M ) kısa vadeli yükümlülüklerini ( $260.3M ) aşıyor.

Uzun Vadeli Yükümlülükler: ZUO şirketinin kısa vadeli varlıkları ( $682.1M ) uzun vadeli yükümlülüklerini ( $412.6M ) aşmaktadır.

Borç-Özkaynak Tarihçesi ve Analizi

Borç Seviyesi: ZUO şirketinin toplam borcundan daha fazla nakiti var.

Borcun Azaltılması: ZUO şirketinin borç/öz sermaye oranı son 5 yılda 6.9% seviyesinden 200% seviyesine yükseldi.

Bilanço

Nakit Pist Analizi

Geçmişte ortalama olarak zarar eden şirketler için, en az 1 yıllık nakit akışına sahip olup olmadıklarını değerlendiriyoruz.

İstikrarlı Nakit Pisti: Kârsız olan ZUO mevcut pozitif serbest nakit akışı seviyesini koruduğu takdirde 3 yıldan fazla yetecek nakit pistine sahip olacaktır.

Tahmini Nakit Akışı: ZUO kârlı değildir ancak serbest nakit akışının pozitif olması ve yılda % 24.6 oranında büyümesi nedeniyle 3 yıldan fazla bir süre yetecek nakit akışına sahiptir.

Sağlıklı şirketleri keşfedin

7D

1Y

7D

1Y

7D

1Y

Şirket Analizi ve Finansal Veri Durumu

VeriSon Güncelleme (UTC saati)
Şirket Analizi2025/02/13 01:32
Gün Sonu Hisse Fiyatı2025/02/13 00:00
Kazançlar2024/10/31
Yıllık Kazançlar2024/01/31

Veri Kaynakları

Şirket analizimizde kullanılan veriler S&P Global Market Intelligence LLC'den alınmıştır. Bu raporu oluşturmak için analiz modelimizde aşağıdaki veriler kullanılmıştır. Veriler normalize edilmiştir, bu da kaynağın mevcut olmasından kaynaklanan bir gecikmeye neden olabilir.

PaketVeriZaman ÇerçevesiÖrnek ABD Kaynağı *
Şirket Finansalları10 yıl
  • Gelir tablosu
  • Nakit akış tablosu
  • Bilanço
Analist Konsensüs Tahminleri+3 yıl
  • Finansal tahminler
  • Analist fiyat hedefleri
Piyasa Fiyatları30 yıl
  • Hisse senedi fiyatları
  • Temettüler, Bölünmeler ve Eylemler
Sahiplik10 yıl
  • En büyük hissedarlar
  • İçeriden öğrenenlerin ticareti
Yönetim10 yıl
  • Liderlik ekibi
  • Yönetim Kurulu
Önemli Gelişmeler10 yıl
  • Şirket duyuruları

* ABD menkul kıymetleri için örnek, ABD dışı için eşdeğer düzenleyici formlar ve kaynaklar kullanılmıştır.

Belirtilmediği sürece tüm finansal veriler yıllık bir döneme dayanmaktadır ancak üç ayda bir güncellenmektedir. Bu, İzleyen On İki Ay (TTM) veya Son On İki Ay (LTM) Verileri olarak bilinir. Daha fazla bilgi edinin.

Analiz Modeli ve Kar Tanesi

Bu raporu oluşturmak için kullanılan analiz modelinin ayrıntılarına GitHub sayfamızdan ulaşabilirsiniz, ayrıca raporlarımızı nasıl kullanacağınızı anlatan kılavuzlarımız ve Youtube'da eğitim videolarımız da bulunmaktadır.

Simply Wall St analiz modelini tasarlayan ve oluşturan dünya standartlarındaki ekip hakkında bilgi edinin.

Endüstri ve Sektör Metrikleri

Sektör ve bölüm metriklerimiz Simply Wall St tarafından her 6 saatte bir hesaplanmaktadır, sürecimizin ayrıntıları Github'da mevcuttur.

Analist Kaynakları

Zuora, Inc. 9 Bu analistlerden 5, raporumuzun girdisi olarak kullanılan gelir veya kazanç tahminlerini sunmuştur. Analistlerin gönderimleri gün boyunca güncellenmektedir.

AnalistKurum
Adam ShepherdArete Research Services LLP
Robert OliverBaird
Joseph VafiCanaccord Genuity