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Side-by-side financial comparison of IAC Inc. (IAC) and ZIFF DAVIS, INC. (ZD), based on the latest 10-Q / 10-K filings. Click either name above to swap in a different company.
IAC Inc. is the larger business by last-quarter revenue ($646.0M vs $406.7M, roughly 1.6× ZIFF DAVIS, INC.). ZIFF DAVIS, INC. runs the higher net margin — -11.9% vs 0.1%, a 12.0% gap on every dollar of revenue. On growth, ZIFF DAVIS, INC. posted the faster year-over-year revenue change (-1.5% vs -10.5%). ZIFF DAVIS, INC. produced more free cash flow last quarter ($157.8M vs $31.4M). Over the past eight quarters, ZIFF DAVIS, INC.'s revenue compounded faster (13.7% CAGR vs 1.7%).
IAC Inc. is an American holding company that owns brands worldwide, mostly in media and Internet. The company originated in 1996 as HSN Inc., the holding company of Home Shopping Network and USA Network before changing its name to USA Networks, Inc. in 1999. The firm's television assets then were sold to Vivendi in 2002.
Ziff Davis, Inc. is an American digital media and Internet company. Founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology- and health-oriented media websites, online shopping-related services, Internet connectivity services, gaming and entertainment brands, and cybersecurity and martech tools. Previously, the company was predominantly a publisher of hobbyist magazines.
IAC vs ZD — Head-to-Head
Income Statement — Q4 2025 vs Q4 2025
| Metric | | |
|---|---|---|
| Revenue | $646.0M | $406.7M |
| Net Profit | $-76.8M | $370.0K |
| Gross Margin | 69.8% | 85.9% |
| Operating Margin | -17.5% | 21.2% |
| Net Margin | -11.9% | 0.1% |
| Revenue YoY | -10.5% | -1.5% |
| Net Profit YoY | 61.4% | -99.4% |
| EPS (diluted) | $-0.96 | $0.06 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align — see 8-quarter trend below.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history — bar widths are scaled to the larger of the two companies so you can eyeball the size gap and growth trajectory without doing math. Quarters aligned by calendar period (report date) so offset fiscal years line up.
| Q4 25 | $646.0M | $406.7M | ||
| Q3 25 | $589.8M | $363.7M | ||
| Q2 25 | $586.9M | $352.2M | ||
| Q1 25 | $570.5M | $328.6M | ||
| Q4 24 | $721.4M | $412.8M | ||
| Q3 24 | $642.0M | $353.6M | ||
| Q2 24 | $634.4M | $320.8M | ||
| Q1 24 | $624.3M | $314.5M |
| Q4 25 | $-76.8M | $370.0K | ||
| Q3 25 | $-21.9M | $-3.6M | ||
| Q2 25 | $211.5M | $26.3M | ||
| Q1 25 | $-216.8M | $24.2M | ||
| Q4 24 | $-199.0M | $64.1M | ||
| Q3 24 | $-243.7M | $-48.6M | ||
| Q2 24 | $-142.2M | $36.9M | ||
| Q1 24 | $45.0M | $10.6M |
| Q4 25 | 69.8% | 85.9% | ||
| Q3 25 | 64.8% | 85.4% | ||
| Q2 25 | 65.6% | 86.1% | ||
| Q1 25 | 64.0% | 85.6% | ||
| Q4 24 | 65.8% | 87.1% | ||
| Q3 24 | 62.1% | 85.5% | ||
| Q2 24 | 60.1% | 84.4% | ||
| Q1 24 | 58.4% | 85.4% |
| Q4 25 | -17.5% | 21.2% | ||
| Q3 25 | -3.5% | 7.8% | ||
| Q2 25 | 0.1% | 9.5% | ||
| Q1 25 | 6.3% | 10.7% | ||
| Q4 24 | 6.7% | 19.0% | ||
| Q3 24 | 1.3% | -8.3% | ||
| Q2 24 | -3.4% | 8.9% | ||
| Q1 24 | -10.2% | 11.4% |
| Q4 25 | -11.9% | 0.1% | ||
| Q3 25 | -3.7% | -1.0% | ||
| Q2 25 | 36.0% | 7.5% | ||
| Q1 25 | -38.0% | 7.4% | ||
| Q4 24 | -27.6% | 15.5% | ||
| Q3 24 | -38.0% | -13.7% | ||
| Q2 24 | -22.4% | 11.5% | ||
| Q1 24 | 7.2% | 3.4% |
| Q4 25 | $-0.96 | $0.06 | ||
| Q3 25 | $-0.27 | $-0.09 | ||
| Q2 25 | $2.57 | $0.62 | ||
| Q1 25 | $-2.64 | $0.56 | ||
| Q4 24 | $-2.36 | $1.53 | ||
| Q3 24 | $-2.93 | $-1.11 | ||
| Q2 24 | $-1.71 | $0.77 | ||
| Q1 24 | $0.51 | $0.23 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest filing — the kind of financial-strength check premium terminals charge for.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $960.2M | $607.0M |
| Total DebtLower is stronger | $1.4B | $866.5M |
| Stockholders' EquityBook value | $4.7B | $1.8B |
| Total Assets | $7.1B | $3.7B |
| Debt / EquityLower = less leverage | 0.30× | 0.49× |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $960.2M | $607.0M | ||
| Q3 25 | $1.0B | $503.4M | ||
| Q2 25 | $1.1B | $457.3M | ||
| Q1 25 | $1.2B | $431.0M | ||
| Q4 24 | $1.4B | $505.9M | ||
| Q3 24 | $1.3B | $386.1M | ||
| Q2 24 | $1.3B | $687.2M | ||
| Q1 24 | $1.3B | $751.2M |
| Q4 25 | $1.4B | $866.5M | ||
| Q3 25 | $1.4B | — | ||
| Q2 25 | $1.4B | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $864.3M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
| Q4 25 | $4.7B | $1.8B | ||
| Q3 25 | $4.8B | $1.8B | ||
| Q2 25 | $4.9B | $1.8B | ||
| Q1 25 | $4.7B | $1.8B | ||
| Q4 24 | $5.6B | $1.8B | ||
| Q3 24 | $5.8B | $1.8B | ||
| Q2 24 | $6.0B | $1.9B | ||
| Q1 24 | $6.1B | $1.9B |
| Q4 25 | $7.1B | $3.7B | ||
| Q3 25 | $7.2B | $3.5B | ||
| Q2 25 | $7.4B | $3.5B | ||
| Q1 25 | $7.2B | $3.5B | ||
| Q4 24 | $9.7B | $3.7B | ||
| Q3 24 | $9.8B | $3.4B | ||
| Q2 24 | $10.2B | $3.7B | ||
| Q1 24 | $10.4B | $3.7B |
| Q4 25 | 0.30× | 0.49× | ||
| Q3 25 | 0.30× | — | ||
| Q2 25 | 0.30× | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.48× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Net income can be massaged; cash flow is harder to fake.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $36.6M | $191.1M |
| Free Cash FlowOCF − Capex | $31.4M | $157.8M |
| FCF MarginFCF / Revenue | 4.9% | 38.8% |
| Capex IntensityCapex / Revenue; lower = less reinvestment burden | 0.8% | 8.2% |
| Cash ConversionOCF / Net Profit; >1× = earnings back up with cash | — | 516.44× |
| TTM Free Cash FlowTrailing 4 quarters | $44.8M | $287.9M |
8-quarter trend — quarters aligned by calendar period so offset fiscal years match up.
| Q4 25 | $36.6M | $191.1M | ||
| Q3 25 | $30.1M | $138.3M | ||
| Q2 25 | $-2.8M | $57.1M | ||
| Q1 25 | $63.0K | $20.6M | ||
| Q4 24 | $110.1M | $158.2M | ||
| Q3 24 | $95.3M | $106.0M | ||
| Q2 24 | $85.0M | $50.6M | ||
| Q1 24 | $64.1M | $75.6M |
| Q4 25 | $31.4M | $157.8M | ||
| Q3 25 | $25.3M | $108.2M | ||
| Q2 25 | $-7.2M | $26.9M | ||
| Q1 25 | $-4.6M | $-5.0M | ||
| Q4 24 | $104.8M | $131.1M | ||
| Q3 24 | $92.0M | $80.1M | ||
| Q2 24 | $81.6M | $25.1M | ||
| Q1 24 | $61.1M | $47.4M |
| Q4 25 | 4.9% | 38.8% | ||
| Q3 25 | 4.3% | 29.7% | ||
| Q2 25 | -1.2% | 7.6% | ||
| Q1 25 | -0.8% | -1.5% | ||
| Q4 24 | 14.5% | 31.8% | ||
| Q3 24 | 14.3% | 22.7% | ||
| Q2 24 | 12.9% | 7.8% | ||
| Q1 24 | 9.8% | 15.1% |
| Q4 25 | 0.8% | 8.2% | ||
| Q3 25 | 0.8% | 8.3% | ||
| Q2 25 | 0.8% | 8.6% | ||
| Q1 25 | 0.8% | 7.8% | ||
| Q4 24 | 0.7% | 6.6% | ||
| Q3 24 | 0.5% | 7.3% | ||
| Q2 24 | 0.5% | 8.0% | ||
| Q1 24 | 0.5% | 8.9% |
| Q4 25 | — | 516.44× | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.01× | 2.17× | ||
| Q1 25 | — | 0.85× | ||
| Q4 24 | — | 2.47× | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 1.37× | ||
| Q1 24 | 1.42× | 7.11× |
Financial Flow Comparison
Sankey diagram of revenue → gross profit → operating profit → net profit for each company. Charts shown full-width and stacked so both segment hierarchies are readable side-by-side on desktop and mobile.
Revenue Breakdown by Segment
IAC
| $168.5M | 26% | |
| Performance Marketing | $101.2M | 16% |
| Care.com | $85.7M | 13% |
| Subscription | $69.5M | 11% |
| Licensing And Other | $43.8M | 7% |
| Consumer Revenue | $43.2M | 7% |
| Advertising | $35.9M | 6% |
| Project And Other Print | $33.6M | 5% |
| Advertising Google | $28.9M | 4% |
| Newsstand | $22.4M | 3% |
| Emerging Other | $19.6M | 3% |
ZD
| Health And Wellness | $114.8M | 28% |
| Technology And Shopping | $108.9M | 27% |
| Cybersecurity And Martech Segment | $70.9M | 17% |
| Connectivity | $60.3M | 15% |
| Gaming And Entertainment | $51.7M | 13% |
| Subscription And Licensing | $2.9M | 1% |
