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Zscaler, Inc.(ZS)Earnings, Financials & Key Ratios
ZS•NASDAQ
$138.83
$22.29B mkt cap·Price updated May 6, 2026
AboutZscaler, Inc. operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device secure access to externally managed applications, including software-as-a-service (SaaS) applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds. It also offers Zscaler Digital Experience that measures end-to-end user experience across business applications, as well as provides an easy to understand digital experience score for each user, application, and location within an enterprise. In addition, the company provides workload segmentation solutions comprising Zscaler Cloud Security Posture Management that identifies and remediates application misconfigurations in SaaS, infrastructure as a service, and platform as a service to reduce risk and ensure compliance with industry and organizational benchmarks; and Zscaler Cloud Workload Segmentation, which is designed to secure application-to-application communications inside public clouds and data centers to stop lateral threat movement, as well as prevents application compromise and reduces the risk of data breaches. Its platform modules include Zscaler Central Authority, Zscaler Enforcement Node, and Zscaler Log Servers. It serves customers in airlines and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications services industries. The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008. Zscaler, Inc. was incorporated in 2007 and is headquartered in San Jose, California.Show more
- Revenue$2.67B+23.3%
- EBITDA-$7M+83.1%
- Net Income-$41M+28.1%
- EPS (Diluted)-0.27+30.8%
- Gross Margin76.87%-1.3%
- EBITDA Margin-0.27%+86.3%
- Operating Margin-4.81%+15.9%
- Net Margin-1.55%+41.7%
- ROE-2.7%+53.2%
- ROIC-8.39%+20.4%
- Debt/Equity1.00+2.8%
- Interest Coverage-13.49-42.5%
ZS Key Insights
Zscaler, Inc. (ZS) fundamental analysis — strengths, weaknesses & financial health based on data analysis
✓Strengths
- ✓FCF machine: 27.2% free cash flow margin
- ✓Strong 5Y sales CAGR of 44.0%
✗Weaknesses
- ✗Weak momentum: RS Rating 12 (bottom 12%)
- ✗Trading more than 30% below 52-week high
- ✗Expensive at 11.9x book value
* These insights are generated automatically based on available financial data. Please conduct your own research before making investment decisions.
ZS Price & Volume
Zscaler, Inc. (ZS) stock price & volume — 10-year historical chart
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ZS Growth Metrics
Zscaler, Inc. (ZS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR
Revenue CAGR
10 Years47.81%
5 Years44.03%
3 Years34.81%
TTM23.91%
Profit CAGR
10 Years-
5 Years-
3 Years-
TTM-335.51%
EPS CAGR
10 Years-
5 Years-
3 Years-
TTM-287.53%
Return on Capital
10 Years-17.91%
5 Years-11.42%
3 Years-7.6%
Last Year-4.6%
ZS Recent Earnings
Zscaler, Inc. (ZS) EPS & revenue vs analyst estimates — last 4 quarters
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 10/12 qtrs (83%)
Q1 2026Latest
Feb 26, 2026EPS
$1.01
Est $0.89
+13.0%
Revenue
$816M
Est $798M
+2.2%
Q4 2025
Nov 25, 2025EPS
$0.96
Est $0.86
+12.1%
Revenue
$788M
Est $773M
+1.9%
Q4 2025
Sep 2, 2025EPS
$0.89
Est $0.80
+11.3%
Revenue
$719M
Est $707M
+1.7%
Q2 2025
May 29, 2025EPS
$0.84
Est $0.75
+11.7%
Revenue
$678M
Est $666M
+1.7%
| Quarter | Date | EPS (Act vs Est) | Revenue (Act vs Est) |
|---|---|---|---|
| Q1 2026Latest | Feb 26, 2026 | $1.01vs $0.89+13.0% | $816Mvs $798M+2.2% |
| Q4 2025 | Nov 25, 2025 | $0.96vs $0.86+12.1% | $788Mvs $773M+1.9% |
| Q4 2025 | Sep 2, 2025 | $0.89vs $0.80+11.3% | $719Mvs $707M+1.7% |
| Q2 2025 | May 29, 2025 | $0.84vs $0.75+11.7% | $678Mvs $666M+1.7% |
Based on last 12 quarters of dataView full earnings history →
ZS Peer Comparison
Zscaler, Inc. (ZS) competitors in Cybersecurity and identity management — business model, growth, and fundamentals comparison
| Company | Market Cap | Stock Price | P/E Ratio (TTM) | Revenue Growth 1Y | Net Margin | Return on Equity (ROE) | FCF Yield | Debt / Equity |
|---|---|---|---|---|---|---|---|---|
 CRWD | 120.74B | 476.53 | -733.12 | 21.71% | -3.81% | -4.63% | 1.09% | 0.18 |
 PANW | 129.34B | 183.98 | 114.99 | 14.87% | 12.96% | 13.65% | 2.68% | 0.04 |
 FTNT | 66.87B | 89.92 | 37.00 | 14.17% | 27.26% | 149.77% | 3.33% | 0.81 |
 NET | 86.38B | 244.43 | -842.86 | 29.85% | -4.72% | -7.48% | 0.38% | 2.54 |
 S | 4.99B | 15.86 | -11.58 | 21.89% | -45.02% | -29.84% | 1.52% | |
 CHKP | 12.26B | 117.64 | 12.23 | 6.25% | 38.37% | 36.43% | 9.85% | 0.68 |
 CSCO | 373.43B | 94.30 | 36.98 | 5.3% | 18.76% | 23.21% | 3.56% | 0.63 |
 FFIV | 19.21B | 339.90 | 28.81 | 9.66% | 21.96% | 19.88% | 4.72% | 0.14 |
Compare ZS vs Peers
Zscaler, Inc. (ZS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.
ZS Income Statement
Zscaler, Inc. (ZS) annual income statement — 10-year revenue, gross profit & net income history
10Y historyFree accessUpdated daily
| Line item | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Sales/Revenue | 125.72M | 190.17M | 302.84M | 431.27M | 673.1M | 1.09B | 1.62B | 2.17B | 2.67B | 3B |
| Revenue Growth % | 56.51% | 51.27% | 59.24% | 42.41% | 56.07% | 62.08% | 48.22% | 34.07% | 23.31% | 23.91% |
| Cost of Goods Sold | 27.47M | 37.88M | 60.06M | 97.09M | 150.64M | 243.32M | 362.48M | 479.66M | 618.18M | 704.11M |
| COGS % of Revenue | 21.85% | 19.92% | 19.83% | 22.51% | 22.38% | 22.3% | 22.42% | 22.13% | 23.13% | - |
| Gross Profit | 98.25M▲ 0% | 152.3M▲ 55.0% | 242.77M▲ 59.4% | 334.18M▲ 37.7% | 522.46M▲ 56.3% | 847.63M▲ 62.2% | 1.25B▲ 48.0% | 1.69B▲ 34.6% | 2.05B▲ 21.7% | 2.3B▲ 0% |
| Gross Margin % | 78.15% | 80.08% | 80.17% | 77.49% | 77.62% | 77.7% | 77.58% | 77.87% | 76.87% | 76.56% |
| Gross Profit Growth % | 63.2% | 55.02% | 59.4% | 37.65% | 56.34% | 62.24% | 48% | 34.57% | 21.73% | - |
| Operating Expenses | 133.32M | 178.88M | 265M | 429.04M | 729.85M | 1.18B | 1.47B | 1.81B | 2.18B | 2.44B |
| OpEx % of Revenue | 106.05% | 94.06% | 87.51% | 99.48% | 108.43% | 107.71% | 90.91% | 83.59% | 81.68% | - |
| Selling, General & Admin | 99.76M | 139.5M | 203.05M | 332.44M | 555.2M | 886.25M | 1.12B | 1.31B | 1.51B | 1.66B |
| SG&A % of Revenue | 79.35% | 73.36% | 67.05% | 77.08% | 82.48% | 81.24% | 69.41% | 60.53% | 56.52% | - |
| Research & Development | 33.56M | 39.38M | 61.96M | 96.6M | 174.65M | 288.81M | 347.52M | 499.75M | 672.49M | 776.53M |
| R&D % of Revenue | 26.7% | 20.71% | 20.46% | 22.4% | 25.95% | 26.47% | 21.49% | 23.05% | 25.16% | - |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -35.07M▲ 0% | -26.59M▲ 24.2% | -22.23M▲ 16.4% | -94.85M▼ 326.6% | -207.4M▼ 118.6% | -327.43M▼ 57.9% | -215.44M▲ 34.2% | -123.88M▲ 42.5% | -128.46M▼ 3.7% | -142.81M▲ 0% |
| Operating Margin % | -27.9% | -13.98% | -7.34% | -21.99% | -30.81% | -30.01% | -13.32% | -5.71% | -4.81% | -4.76% |
| Operating Income Growth % | -30.66% | 24.2% | 16.37% | -326.62% | -118.65% | -57.88% | 34.2% | 42.5% | -3.7% | - |
| EBITDA | -28.23M | -5.42M | 7.72M | -35.26M | -109.39M | -183.81M | -116.42M | -42.95M | -7.28M | -51.56M |
| EBITDA Margin % | -22.46% | -2.85% | 2.55% | -8.18% | -16.25% | -16.85% | -7.2% | -1.98% | -0.27% | -1.72% |
| EBITDA Growth % | -28.5% | 80.82% | 242.6% | -556.55% | -210.23% | -68.04% | 36.66% | 63.11% | 83.05% | -5899.44% |
| D&A (Non-Cash Add-back) | 6.84M | 21.17M | 29.96M | 59.59M | 98.01M | 143.62M | 99.03M | 80.93M | 121.18M | 91.25M |
| EBIT | -34.58M | -32.31M | -27.91M | -107.7M | -203.81M | -327.05M | -175.75M | -16.14M | -8.77M | 17.47M |
| Net Interest Income | 0 | 2.24M | 7.73M | 1.45M | -50.55M | -51.99M | 53.64M | 96.04M | 115.84M | 91.42M |
| Interest Income | 0 | 2.24M | 7.73M | 6.48M | 2.81M | 4.59M | 60.46M | 109.13M | 125.36M | 131.49M |
| Interest Expense | 0 | 0 | 0 | 5.03M | 53.36M | 56.58M | 6.82M | 13.09M | 9.52M | 1.95M |
| Other Income/Expense | 490K | -5.72M | -5.68M | -17.87M | -49.78M | -56.2M | 32.88M | 94.65M | 110.17M | 115.79M |
| Pretax Income | -34.58M▲ 0% | -32.31M▲ 6.6% | -27.91M▲ 13.6% | -112.73M▼ 303.9% | -257.18M▼ 128.1% | -383.63M▼ 49.2% | -182.56M▲ 52.4% | -29.23M▲ 84.0% | -18.29M▲ 37.4% | -27.01M▲ 0% |
| Pretax Margin % | -27.51% | -16.99% | -9.22% | -26.14% | -38.21% | -35.16% | -11.29% | -1.35% | -0.68% | -0.9% |
| Income Tax | 877K | 1.34M | 743K | 2.39M | 4.85M | 6.65M | 19.77M | 28.48M | 23.19M | 40.62M |
| Effective Tax Rate % | -2.54% | -4.14% | -2.66% | -2.12% | -1.89% | -1.73% | -10.83% | -97.43% | -126.77% | -150.37% |
| Net Income | -35.46M▲ 0% | -33.65M▲ 5.1% | -28.66M▲ 14.8% | -115.12M▼ 301.7% | -262.03M▼ 127.6% | -390.28M▼ 48.9% | -202.34M▲ 48.2% | -57.71M▲ 71.5% | -41.48M▲ 28.1% | -67.63M▲ 0% |
| Net Margin % | -28.21% | -17.69% | -9.46% | -26.69% | -38.93% | -35.77% | -12.51% | -2.66% | -1.55% | -2.25% |
| Net Income Growth % | -29.24% | 5.12% | 14.83% | -301.73% | -127.62% | -48.94% | 48.16% | 71.48% | 28.12% | -335.51% |
| Net Income (Continuing) | -35.46M | -33.65M | -28.66M | -115.12M | -262.03M | -390.28M | -202.34M | -57.71M | -41.48M | -67.63M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.34▲ 0% | -0.53▼ 55.9% | -0.23▲ 56.6% | -0.89▼ 287.0% | -1.93▼ 116.9% | -2.77▼ 43.5% | -1.40▲ 49.5% | -0.39▲ 72.1% | -0.27▲ 30.8% | -0.42▲ 0% |
| EPS Growth % | 65.31% | -55.88% | 56.6% | -286.96% | -116.85% | -43.52% | 49.46% | 72.14% | 30.77% | -287.53% |
| EPS (Basic) | -0.34 | -0.53 | -0.23 | -0.89 | -1.93 | -2.77 | -1.40 | -0.39 | -0.27 | - |
| Diluted Shares Outstanding | 103.63M | 63.88M | 123.57M | 129.32M | 135.65M | 140.9M | 144.94M | 149.59M | 154.4M | 159.68M |
| Basic Shares Outstanding | 103.63M | 63.88M | 123.57M | 129.32M | 135.65M | 140.9M | 144.94M | 149.59M | 154.4M | 159.68M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - |
ZS Balance Sheet
Zscaler, Inc. (ZS) balance sheet — assets, liabilities & shareholders' equity
| Line item | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Total Current Assets | 142.91M | 387.16M | 496.09M | 1.58B | 1.85B | 2.26B | 2.89B | 3.4B | 4.89B | 4.45B |
| Cash & Short-Term Investments | 87.98M | 298.54M | 364.65M | 1.37B | 1.5B | 1.73B | 2.1B | 2.41B | 3.57B | 3.51B |
| Cash Only | 87.98M | 135.58M | 78.48M | 141.85M | 275.9M | 1.01B | 1.26B | 1.42B | 2.39B | 1.2B |
| Short-Term Investments | 0 | 162.96M | 286.16M | 1.23B | 1.23B | 718.13M | 838.03M | 986.57M | 1.18B | 2.31B |
| Accounts Receivable | 39.05M | 61.61M | 93.34M | 147.58M | 257.11M | 399.75M | 582.64M | 736.53M | 992.18M | 551.82M |
| Days Sales Outstanding | 113.38 | 118.25 | 112.5 | 124.91 | 139.42 | 133.74 | 131.52 | 124.01 | 135.48 | 81.8 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | - | - | - | - |
| Other Current Assets | 10.47M | 16.14M | 21.22M | 36.04M | 57.37M | 88.14M | 207.45M | 250.43M | 329.7M | 386.19M |
| Total Non-Current Assets | 39.99M | 60.62M | 108.08M | 251.66M | 409.33M | 576.02M | 718M | 1.31B | 1.53B | 2.3B |
| Property, Plant & Equipment | 13.14M | 19.77M | 41.05M | 111.85M | 152.91M | 232.99M | 313.03M | 472.88M | 633.15M | 682.96M |
| Fixed Asset Turnover | 9.57x | 9.62x | 7.38x | 3.86x | 4.40x | 4.68x | 5.17x | 4.58x | 4.22x | 4.70x |
| Goodwill | 0 | 0 | 7.48M | 30.06M | 58.98M | 78.55M | 89.19M | 417.03M | 417.73M | 1B |
| Intangible Assets | 0 | 0 | 8.71M | 24.02M | 32.13M | 31.82M | 25.86M | 63.84M | 47.32M | 193.38M |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Assets | 26.85M | 40.85M | 50.84M | 85.73M | 165.31M | 232.66M | 289.93M | 354.61M | 427.4M | 1.66B |
| Total Assets | 182.9M▲ 0% | 447.78M▲ 144.8% | 604.16M▲ 34.9% | 1.83B▲ 203.5% | 2.26B▲ 23.1% | 2.83B▲ 25.5% | 3.61B▲ 27.4% | 4.7B▲ 30.4% | 6.42B▲ 36.4% | 6.75B▲ 0% |
| Asset Turnover | 0.69x | 0.42x | 0.50x | 0.24x | 0.30x | 0.39x | 0.45x | 0.46x | 0.42x | 0.48x |
| Asset Growth % | 19.14% | 144.82% | 34.92% | 203.47% | 23.14% | 25.47% | 27.38% | 30.39% | 36.45% | 136.64% |
| Total Current Liabilities | 120.46M | 182.83M | 261.95M | 423.9M | 720.21M | 1.13B | 1.54B | 3.11B | 2.43B | 2.34B |
| Accounts Payable | 3.76M | 4.89M | 6.21M | 5.23M | 12.55M | 26.15M | 18.48M | 23.31M | 46.91M | 29.03M |
| Days Payables Outstanding | 50 | 47.17 | 37.72 | 19.67 | 30.4 | 39.23 | 18.61 | 17.74 | 27.7 | 23.19 |
| Short-Term Debt | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.14B | 0 | 67.59M |
| Deferred Revenue (Current) | 85.47M | 140.67M | 221.39M | 337.26M | 571.29M | 923.75M | 1.28B | 1.64B | 2.05B | 7.66B |
| Other Current Liabilities | 19.58M | 23.39M | 21.54M | 49.44M | 93.62M | 111.95M | 44.78M | 62.26M | 61.01M | 289.81M |
| Current Ratio | 1.19x | 2.12x | 1.89x | 3.73x | 2.57x | 1.99x | 1.88x | 1.09x | 2.01x | 2.01x |
| Quick Ratio | 1.19x | 2.12x | 1.89x | 3.73x | 2.57x | 1.99x | 1.88x | 1.09x | 2.01x | 2.01x |
| Cash Conversion Cycle | - | - | - | - | - | - | - | - | - | 58.61 |
| Total Non-Current Liabilities | 12.61M | 24.71M | 33.66M | 924.73M | 1.01B | 1.12B | 1.35B | 317.98M | 2.19B | 2.22B |
| Long-Term Debt | 0 | 0 | 0 | 861.62M | 913.54M | 968.67M | 1.13B | 0 | 1.7B | 1.8B |
| Capital Lease Obligations | 0 | 0 | 0 | 28.02M | 31.23M | 50.95M | 41.92M | 44.82M | 43.35M | 141.83M |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Non-Current Liabilities | 1.46M | 1.36M | 3.84M | 2.59M | 4.45M | 7.92M | 12.73M | 22.1M | 33.32M | 524.2M |
| Total Liabilities | 133.07M | 207.54M | 295.6M | 1.35B | 1.73B | 2.26B | 2.88B | 3.43B | 4.62B | 4.56B |
| Total Debt | 0 | 0 | 0 | 905.24M | 964.61M | 1.05B | 1.21B | 1.24B | 1.8B | 1.86B |
| Net Debt | -87.98M | -135.58M | -78.48M | 763.39M | 688.71M | 32.51M | -51.66M | -185.12M | -592.45M | 661.64M |
| Debt / Equity | - | - | - | 1.87x | 1.82x | 1.82x | 1.67x | 0.97x | 1.00x | 1.00x |
| Debt / EBITDA | - | - | - | - | - | - | - | - | - | -36.16x |
| Net Debt / EBITDA | - | - | -10.16x | - | - | - | - | - | - | -12.83x |
| Interest Coverage | - | - | - | -18.88x | -3.89x | -5.79x | -31.59x | -9.46x | -13.49x | 8.97x |
| Total Equity | 49.84M▲ 0% | 240.24M▲ 382.1% | 308.56M▲ 28.4% | 484.83M▲ 57.1% | 528.89M▲ 9.1% | 573.3M▲ 8.4% | 725.11M▲ 26.5% | 1.27B▲ 75.7% | 1.8B▲ 41.2% | 2.2B▲ 0% |
| Equity Growth % | -25.25% | 382.06% | 28.44% | 57.13% | 9.09% | 8.4% | 26.48% | 75.71% | 41.22% | 181.72% |
| Book Value per Share | 0.48 | 3.76 | 2.50 | 3.75 | 3.90 | 4.07 | 5.00 | 8.52 | 11.65 | 13.75 |
| Total Shareholders' Equity | 49.84M | 240.24M | 308.56M | 484.83M | 528.89M | 573.3M | 725.11M | 1.27B | 1.8B | 2.2B |
| Common Stock | 18K | 119K | 127K | 133K | 139K | 143K | 147K | 152K | 159K | 161K |
| Retained Earnings | -162.02M | -196.1M | -224.46M | -339.57M | -601.6M | -991.88M | -1.09B | -1.15B | -1.19B | -1.24B |
| Treasury Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Accumulated OCI | -17.3M | -124K | 268K | 463K | -650K | -25.85M | -1.58M | -4.79M | 8.08M | 15.19M |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
ZS Cash Flow Statement
Zscaler, Inc. (ZS) cash flow — operating, investing & free cash flow history
| Line item | Jul'17 | Jul'18 | Jul'19 | Jul'20 | Jul'21 | Jul'22 | Jul'23 | Jul'24 | Jul'25 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from Operations | -6.02M | 17.31M | 58.03M | 79.32M | 202.04M | 321.91M | 462.34M | 779.85M | 972.45M | 972.45M |
| Operating CF Margin % | -4.79% | 9.1% | 19.16% | 18.39% | 30.02% | 29.51% | 28.59% | 35.97% | 36.38% | - |
| Operating CF Growth % | 49.49% | 387.54% | 235.28% | 36.69% | 154.72% | 59.33% | 43.62% | 68.67% | 24.7% | 93.86% |
| Net Income | -35.46M | -33.65M | -28.66M | -115.12M | -262.03M | -390.28M | -202.34M | -57.71M | -41.48M | -67.63M |
| Depreciation & Amortization | 6.84M | 7.99M | 11.31M | 21.12M | 36.46M | 49.47M | 66.82M | 80.93M | 121.18M | 154.13M |
| Stock-Based Compensation | 9.92M | 11.22M | 46.42M | 121.39M | 258.54M | 409.56M | 444.83M | 527.68M | 661.35M | 737.2M |
| Deferred Taxes | 0 | 0 | -1.39M | -1.17M | -2.41M | -562K | 352K | -5.63M | -14.35M | 1.46M |
| Other Non-Cash Items | 8.38M | 13.31M | 16.75M | 44.48M | 125.91M | 156.27M | 124.1M | 168.51M | 219.03M | 319.43M |
| Working Capital Changes | 4.3M | 18.43M | 13.59M | 8.61M | 45.57M | 97.45M | 28.57M | 66.07M | 26.72M | -30.55M |
| Change in Receivables | -14.56M | -22.56M | -31.73M | -54.22M | -111.61M | -143.34M | -183.86M | -152.96M | -256.01M | -16.52M |
| Change in Inventory | 2.66M | -2.99M | -7.98M | -18.89M | -18.91M | 0 | -45.3M | 0 | 0 | 0 |
| Change in Payables | 2.25M | -779K | 495K | 862K | 7.45M | 14.36M | -8.42M | 4.16M | 17.53M | -4.68M |
| Cash from Investing | -8.34M | -178.1M | -162.07M | -1.04B | -109.67M | 374.06M | -259.34M | -683.18M | -427.02M | -2.09B |
| Capital Expenditures | -8.17M | -15.17M | -30.16M | -51.81M | -58.3M | -90.58M | -128.72M | -144.59M | -245.76M | -150.85M |
| CapEx % of Revenue | 6.5% | 7.98% | 9.96% | 12.01% | 8.66% | 8.3% | 7.96% | 6.67% | 9.19% | - |
| Acquisitions | 0 | 0 | -11.43M | -41.6M | -40.53M | -25.29M | -15.64M | -374.7M | -834K | -672.78M |
| Investments | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 0 | 433K | 0 | 0 | 0 | 0 | 0 | -50.31M | 0 | -85.75M |
| Cash from Financing | 9.5M | 208.4M | 46.38M | 1.02B | 41.67M | 41.34M | 45.99M | 64.21M | 420.51M | 419.21M |
| Debt Issued (Net) | 0 | 0 | 0 | 1.13B | 0 | 0 | 0 | 0 | 354.16M | 354.16M |
| Equity Issued (Net) | 1000K | 1000K | -22K | 1000K | 1000K | 1000K | 1000K | 1000K | 1000K | 2.04M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | 0 | -3.81M | -22K | 0 | 0 | 0 | 0 | 0 | 0 | 21.51M |
| Other Financing | 1.82M | 6.86M | 46.41M | -145.25M | -2.25M | -255K | -217K | -39K | -792K | 19.72M |
| Net Change in Cash | -4.86M▲ 0% | 47.6M▲ 1078.6% | -57.66M▼ 221.1% | 63.37M▲ 209.9% | 134.05M▲ 111.5% | 737.31M▲ 450.0% | 249M▼ 66.2% | 160.87M▼ 35.4% | 965.94M▲ 500.4% | -555.75M▲ 0% |
| Free Cash Flow | -14.19M▲ 0% | 2.14M▲ 115.1% | 27.86M▲ 1203.9% | 27.51M▼ 1.3% | 143.74M▲ 422.5% | 231.33M▲ 60.9% | 333.62M▲ 44.2% | 584.95M▲ 75.3% | 726.69M▲ 24.2% | 943.74M▲ 0% |
| FCF Margin % | -11.29% | 1.12% | 9.2% | 6.38% | 21.36% | 21.2% | 20.63% | 26.98% | 27.19% | 31.45% |
| FCF Growth % | 21.86% | 115.06% | 1203.93% | -1.28% | 422.55% | 60.93% | 44.22% | 75.33% | 24.23% | 35.84% |
| FCF per Share | -0.14 | 0.03 | 0.23 | 0.21 | 1.06 | 1.64 | 2.30 | 3.91 | 4.71 | 4.71 |
| FCF Conversion (FCF/Net Income) | 0.17x | -0.51x | -2.03x | -0.69x | -0.77x | -0.82x | -2.29x | -13.51x | -23.45x | -13.95x |
| Interest Paid | 0 | 0 | 0 | 0 | 1.46M | 1.44M | 1.44M | 1.44M | 0 | -718K |
| Taxes Paid | 385K | -870K | 1.77M | 2.52M | 4.14M | 5.61M | 14.94M | 23.12M | 0 | -4.51M |
ZS Key Ratios
Zscaler, Inc. (ZS) financial ratios — P/E, ROE, debt and 30+ core market and balance-sheet ratios
| Metric | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM |
|---|---|---|---|---|---|---|---|---|---|---|
| Return on Equity (ROE) | -60.87% | -23.2% | -10.44% | -29.02% | -51.7% | -70.82% | -31.17% | -5.77% | -2.7% | -3.08% |
| Return on Invested Capital (ROIC) | - | -59.95% | -9.96% | -9.62% | -12.62% | -26.94% | -25.26% | -10.54% | -8.39% | -8.39% |
| Gross Margin | 78.15% | 80.08% | 80.17% | 77.49% | 77.62% | 77.7% | 77.58% | 77.87% | 76.87% | 76.56% |
| Net Margin | -28.21% | -17.69% | -9.46% | -26.69% | -38.93% | -35.77% | -12.51% | -2.66% | -1.55% | -2.25% |
| Debt / Equity | - | - | - | 1.87x | 1.82x | 1.82x | 1.67x | 0.97x | 1.00x | 1.00x |
| Interest Coverage | - | - | - | -18.88x | -3.89x | -5.79x | -31.59x | -9.46x | -13.49x | 8.97x |
| FCF Conversion | 0.17x | -0.51x | -2.03x | -0.69x | -0.77x | -0.82x | -2.29x | -13.51x | -23.45x | -13.95x |
| Revenue Growth | 56.51% | 51.27% | 59.24% | 42.41% | 56.07% | 62.08% | 48.22% | 34.07% | 23.31% | 23.91% |
ZS SEC Filings & Documents
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ZS Frequently Asked Questions
Zscaler, Inc. (ZS) stock FAQ — growth, dividends, profitability & financials explained
Growth & Financials
Zscaler, Inc. (ZS) reported $3.00B in revenue for fiscal year 2025. This represents a 5488% increase from $53.7M in 2015.
Zscaler, Inc. (ZS) grew revenue by 23.3% over the past year. This is strong growth.
Zscaler, Inc. (ZS) reported a net loss of $67.6M for fiscal year 2025.
Dividend & Returns
Zscaler, Inc. (ZS) has a return on equity (ROE) of -2.7%. Negative ROE indicates the company is unprofitable.
Zscaler, Inc. (ZS) generated $943.7M in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.
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