Consensus Cloud Solutions

CCSI · Nasdaq · Information Technology · Financials, fiscal 2019 to 2025

CCSI · Last close · November 6, 2026

$43.15

Value Consensus Cloud Solutions yourself

Consensus Cloud Solutions' revenue fell 0.2% to $350 million in fiscal 2025. Its operating margin was 43.0%, up from 42.6% a year earlier. Free cash flow was $106 million, up 19.9%. It paid out $23 million in dividends and buybacks, 22% of free cash flow. The diluted share count rose 0.3%.

Consensus Cloud Solutions, Inc. Latest fiscal year ended December 31, 2025 10-K filed February 13, 2026 · 0001866633-26-000004 Updated November 7, 2026

Revenue

$350M

0.2%

Operating margin

43.0%

0.3 pts

Net income

$84M

5.5%

Free cash flow

$106M

19.9%

Return on capital

22.8%

0.2 pts

Market cap

$824M

Nov 6 close

P/E

8.7x

On $4.94 EPS, 4 qtrs

Operating margin is operating income as a share of revenue. Free cash flow is cash from operations minus capital spending. Return on capital is after-tax operating income as a share of the money invested in the business: debt plus equity, minus cash. Market cap is the last closing share price times the latest diluted share count, so it is approximate. P/E is the last close divided by diluted earnings per share over the last four quarters, or the latest fiscal year where the quarters aren't available; there is none when the company made a loss.

Charts show fiscal years, from the 10-K filings.

What Consensus Cloud Solutions does

Consensus Cloud Solutions provides secure ways to send and exchange information. Its best-known brand is eFax, an online fax service it has run for more than twenty-five years. It has added software that pulls out, reads and converts data in documents, and tools that help systems share information with each other. It sells these as subscription cloud software, and says they suit regulated fields such as healthcare, government, finance, law and education. Healthcare is its largest industry.

It has about 703 thousand customers, from small businesses to large enterprises and the federal government. About 65 thousand are Corporate customers, who buy mainly through salespeople with custom pricing, extra phone lines, connections to their software and added security. Corporate revenue was approximately $223 million in 2025. About 638 thousand are small office and home office customers who sign up online. Its fax services make up substantially all of its revenue and operating income.

It offers local phone numbers in 46 countries and territories, and had 520 employees at the end of 2025.

Its biggest risks, as it describes them

Depending on fax services for substantially all of its revenue and operating income.
Changes in the healthcare industry, its largest market, could hurt demand.
Falling behind rapid technology change, or markets for its newer products developing slowly.
Relying on a small number of telecommunications carriers and on getting local phone numbers.
Internet providers blocking or degrading its services, or higher costs for carriers and email.

From Consensus Cloud Solutions's annual report on Form 10-K, filed February 13, 2026, in our words; the 10-K has the full description and every risk factor. Updated with each new annual report.

Income statement

Revenue and net income

US$ billions, fiscal years; net losses in red. Revenue on the left axis, net income on the right; zero is the same line on both.

Revenue (left axis)Net income (right axis)

Gross profit, R&D and operating income

US$ billions, fiscal years. Gross profit is revenue minus the cost of what was sold; research and development is one of the costs paid from it; what remains after all operating costs is operating income. Losses in red.

Gross profitResearch and developmentOperating income

Margins

Percent of revenue

GrossOperatingNetFree cash flow

From fiscal 2019 to 2025, earnings per share fell 13.9% a year and net income 14.3% a year, while buybacks cut the share count by 3%.

Diluted earnings per share

US$ per share, fiscal years, restated for any stock splits; loss years in red.

Returns on capital

Return on capital and on equity

Percent. Return on capital is after-tax operating income over the money invested in the business (debt plus equity, minus cash); return on equity is net income over shareholders' equity. Both use the average of opening and closing balances.

Return on capitalReturn on equity

Balance sheet

Cash and debt

US$ billions, at each fiscal year end. Debt includes finance leases.

Cash and short-term investmentsDebt

Assets, liabilities and equity

US$ billions, at each fiscal year end. Assets equal liabilities plus equity; negative equity in red.

Total assetsTotal liabilitiesShareholders' equity

Debt and liquidity ratios

Times. Debt to equity, current assets over current liabilities, and net debt over EBITDA (a full year's).

Debt to equityCurrent ratioNet debt to EBITDA

Five years at a glance

Fiscal year end	FY21	FY22	FY23	FY24	FY25
Cash and short-term investments	67	94	89	34	75
Debt incl. finance leases	792	794	734	593	558
Net debt (negative means net cash)	725	700	645	560	484
Net debt to EBITDA	3.2x	4.2x	3.9x	3.3x	2.9x
Debt to equity	—	—	—	—	—
Interest coverage	12.3x	3.0x	3.2x	4.4x	4.2x
Current ratio	1.2x	1.9x	1.8x	0.9x	1.8x
Quick ratio	1.2x	1.9x	1.8x	0.9x	1.8x

US$ millions unless stated, at each fiscal year end. Net debt to EBITDA is debt minus cash, divided by operating income before depreciation and amortization: roughly how many years of those earnings the net debt equals. Debt to equity is debt as a multiple of shareholders' equity. Interest coverage is operating income divided by interest expense. The current ratio is current assets over current liabilities; the quick ratio leaves out inventory.

Cash flow

Cash from operations, capital spending and free cash flow

US$ billions, fiscal years. Free cash flow is cash from operations minus capital spending; negative years in red.

Cash from operationsCapital spendingFree cash flow

Stock-based compensation and buybacks

US$ billions, fiscal years. Shares paid to employees (stock-based compensation, a cost that uses no cash) against cash spent buying shares back. Buybacks that only match it leave the share count roughly where it was.

Stock-based compensationShare buybacks

Dividends and buybacks

US$ billions, cash paid in each fiscal year

DividendsShare buybacks

Diluted share count

Weighted-average diluted shares, millions

Projections

Project Consensus Cloud Solutions' revenue, net income and earnings per share five years ahead in a bull, a base and a bear case with your own figures, and see the share prices your P/E estimates give them, or value it with a discounted cash flow model. Every projected figure is yours: it is not a forecast of ours.

Open Consensus Cloud Solutions' projections

Insider trades

Over the 12 months between November 7, 2025 and November 6, 2026, no insider bought Consensus Cloud Solutions shares on the open market, and 2 insiders sold $361,160.

Buys and sells by month

US$ millions, open-market purchases (up) and sales (down) by officers, directors and 10% owners in each month.

BoughtSold

Date	Insider	Trade	Shares	Price	Value	Filing
Aug 12, 2026	Jeffrey Alan SullivanChief Technology Officer	Sold	5,400	$37.70	$203,580	Form 4
Jun 2, 2026	Elaine HealyDirector	Sold	4,000	$34.27	$137,080	Form 4
Nov 19, 2025	Elaine HealyDirector	Sold	1,000	$20.50	$20,500	Form 4

Open-market purchases and sales by officers, directors and 10% owners, from their Form 4 filings with the SEC: one row per person, day and filing, at the day's average price. Grants, option exercises and shares withheld for tax aren't counted. Insiders buy and sell for many reasons, such as taxes, spreading their savings or a plan set up months earlier, so a trade on its own says little about where a company is heading. For information only, not investment advice. Insider trades at all companies

Indicators

Four widely used measures, worked out from the company's filings. The cutoffs are the ones their authors or users go by, not a verdict of ours.

Indicator	FY23	FY24	FY25
Piotroski F-score	5 of 9	6 of 9	7 of 9
Rule of 40	21.5%	21.8%	30.1%
Altman Z''	0.98	1.04	2.06
Accruals ratio	−5.8%	−5.2%	−8.2%

Piotroski F-score: how many of nine simple tests of profitability, funding and efficiency the company passed in the year (Piotroski, 2000); 8 or 9 is strong, 0 to 2 weak. Rule of 40: revenue growth plus free cash flow margin; software investors treat 40% or more as the bar. Altman Z'': working capital, retained earnings, operating income and equity weighed against assets and liabilities (Altman, 1995); Altman puts above 2.6 in the safe zone and below 1.1 in the distress zone. Accruals ratio: net income minus cash from operations, over average total assets; lower means profit is backed by cash.

The nine F-score tests

Test	FY23	FY24	FY25
Net income is positive	Pass	Pass	Pass
Cash from operations is positive	Pass	Pass	Pass
Return on assets rose	Fail	Pass	Pass
Cash from operations exceeds net income	Pass	Pass	Pass
Debt fell relative to assets	Pass	Pass	Pass
Current ratio rose	Fail	Fail	Pass
Share count didn't rise	Pass	Pass	Fail
Gross margin rose	Fail	Fail	Fail
Revenue rose relative to assets	Fail	Fail	Pass
F-score	5 of 9	6 of 9	7 of 9

Companies that report no gross profit are scored on the other eight.

Compare

Put Consensus Cloud Solutions side by side with any other company we cover: revenue, growth, margins, cash flow and returns, with ten years of charts.

Similar companies

Company	Year	Revenue growth	Operating margin	Free cash flow margin	Return on capital	Net debt to EBITDA	F-score	Compare
Consensus Cloud Solutions	FY25	−0.2%	43.0%	30.3%	22.8%	2.9x	7
Viant Technology	FY25	19.0%	3.5%	15.0%	14.5%	−6.2x	6	Compare
Amplitude	FY25	14.7%	—	8.2%	—	—	—	Compare
Commerce.com	FY25	2.8%	−4.7%	4.9%	−20.2%	—	6	Compare
Agilysys	FY26	15.8%	13.5%	21.3%	16.1%	−2.2x	7	Compare

Each company's latest fiscal year. Fiscal years end in different months, so the periods don't line up exactly. Free cash flow margin is free cash flow as a share of revenue. Net debt to EBITDA is explained under the balance sheet, and the F-score under Indicators.

7 years of figures

Fiscal year	FY19	FY20	FY21	FY22	FY23	FY24	FY25
Income statement
Revenue	323	331	353	362	363	350	350
Revenue growth	—	2.7%	6.5%	2.8%	0.0%	−3.4%	−0.2%
Gross profit	273	278	295	300	294	281	279
Research and development	10	7	8	10	8	8	8
Operating income	190	197	175	152	147	149	150
Net income	213	153	109	73	77	89	84
Diluted EPS (US$)	10.70	7.68	5.44	3.64	3.94	4.62	4.35
Diluted shares (millions)	20	20	20	20	20	19	19
Cash flow
Cash from operations	227	239	234	83	114	122	136
Capital expenditure	23	32	33	30	36	33	30
Free cash flow	204	206	201	53	78	88	106
Dividends paid	0	0	0	0	0	0	0
Share buybacks	0	0	0	8	24	1	23
Acquisitions	282	50	57	12	0	0	0
Stock-based compensation	4	6	2	20	18	17	18
Balance sheet at fiscal year end
Cash and short-term investments	51	66	67	94	89	34	75
Debt incl. finance leases	—	0	792	794	734	593	558
Total assets	—	1,491	563	634	647	602	664
Total liabilities	—	369	896	889	823	682	650
Shareholders' equity	466	1,122	−333	−255	−176	−80	14
Margins and ratios
Gross margin	84.5%	83.9%	83.5%	82.9%	81.2%	80.1%	79.8%
Operating margin	58.9%	59.4%	49.7%	41.9%	40.6%	42.6%	43.0%
Net margin	66.0%	46.2%	30.9%	20.1%	21.3%	25.5%	24.2%
Free cash flow margin	63.2%	62.3%	56.9%	14.7%	21.4%	25.2%	30.3%
Rule of 40 (growth + FCF margin)	—	65.0%	63.4%	17.4%	21.5%	21.8%	30.1%
Return on capital	—	—	18.2%	26.7%	24.1%	23.0%	22.8%
Return on equity	—	—	27.6%	—	—	—	—
Return on assets	—	—	10.6%	12.2%	12.1%	14.3%	13.3%
Net debt to EBITDA	—	−0.2x	3.2x	4.2x	3.9x	3.3x	2.9x

US$ millions unless stated. Where a later 10-K restated a year, the latest filed figure is shown. Download all figures (CSV, US$ millions)

Source: Consensus Cloud Solutions' Form 10-K filings, from SEC EDGAR. For information only, not investment advice. The Filing Desk is not affiliated with Consensus Cloud Solutions.