Zscaler, Inc. (ZS) quarterly cash flow statement — complete operating, investing & financing history
Zscaler, Inc. (ZS) cash flow statement — 11-year operating, investing & financing cash flows
| Metric | Q4'26 | Q3'26 | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 | Q2'24 | Q1'24 | Q4'23 | Q3'23 | Q2'23 | Q1'23 | Q4'22 | Q3'22 | Q2'22 | Q1'22 |
|---|
| Cash from Operations | 279.29M | 198.02M | 204.07M | 448.28M | 250.6M | 211.08M | 179.43M | 331.33M | 203.56M | 173.41M | 142.07M | 260.81M | 135.94M | 108.47M | 89.48M | 128.46M | 103.14M | 77.24M | 48.26M | 93.27M |
| Operating CF Margin % | 31.09% | 23.28% | 25.02% | 56.88% | 34.84% | 31.13% | 27.69% | 52.76% | 34.33% | 31.35% | 27.06% | 52.51% | 29.88% | 25.9% | 23.09% | 36.13% | 32.43% | 26.93% | 18.88% | 40.46% |
| Operating CF Growth % | 11.44% | -6.19% | 13.73% | 35.3% | 23.11% | 21.72% | 26.3% | 27.04% | 49.74% | 59.87% | 58.77% | 103.03% | 31.8% | 40.43% | 85.41% | 37.72% | 130.55% | 5.28% | 58.74% | 74.23% |
| Net Income | -3.37M | -13.88M | -34.31M | -11.62M | -17.58M | -4.13M | -7.72M | -12.05M | -14.88M | 19.12M | -28.47M | -33.48M | -30.67M | -46.05M | -57.45M | -68.16M | -97.65M | -101.41M | -100.42M | -90.8M |
| Depreciation & Amortization | 55.21M | 49.46M | 46.06M | 41.28M | 34.34M | 32.45M | 28.73M | 25.66M | 24.4M | 21.05M | 18.48M | 17M | 18.97M | 17.5M | 15.92M | 14.43M | 13.33M | 12.67M | 12.22M | 11.24M |
| Stock-Based Compensation | 211.59M | 205.19M | 216.55M | 188.59M | 172.65M | 159.4M | 172.12M | 157.18M | 144.87M | 113.24M | 140.43M | 129.14M | 122.1M | 107.82M | 109.74M | 105.17M | 114.82M | 105.85M | 98.99M | 89.9M |
| Deferred Taxes | -20.71M | 1.88M | 2.15M | -3.7M | 3.49M | -482K | -17.55M | 186K | 136K | -4.33M | -1.39M | -43K | 194K | 149K | -56K | 65K | -41K | 138K | -436K | -223K |
| Other Non-Cash Items | -16.49M | 24.51M | 67.28M | 70.93M | 60.36M | 51.73M | 51.91M | 55.04M | 47.24M | 41.51M | 39.37M | 40.39M | 31.97M | 32.06M | 29.59M | 30.49M | 40.86M | 39.85M | 38.48M | 37.08M |
| Working Capital Changes | 53.05M | -69.14M | -93.65M | 162.79M | -2.66M | -27.89M | -48.06M | 105.32M | 1.79M | -17.18M | -26.35M | 107.81M | -6.63M | -3.01M | -8.25M | 46.47M | 31.82M | 20.13M | -574K | 46.07M |
| Change in Receivables | -420.03M | -181.49M | -21.33M | 482.86M | -376.52M | -101.54M | -89.93M | 311.98M | -231.37M | -23.97M | -112.71M | 215.08M | -206.86M | -17.8M | -89.84M | 130.64M | -127.89M | -2.83M | -97.55M | 84.93M |
| Change in Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -4.8M | -6.96M | 0 | 0 | 0 | 0 | 0 | 7.11M | -10.21M |
| Change in Payables | 9.37M | 2.13M | -19.18M | -2.94M | -11.41M | 28.85M | -945K | 1.04M | -3.36M | 9.93M | -7.01M | 4.6M | -4.34M | -9.31M | 2.23M | 3M | 11.39M | 3.07M | 985K | -1.09M |
| Cash from Investing | -370.95M | -418.65M | -360.91M | -1.5B | -247.58M | 21.7M | 518K | -201.66M | -74.19M | -360.24M | -86.2M | -162.54M | -180.41M | -91.27M | 70.05M | -57.7M | 291.49M | 106.52M | -23.87M | -67K |
| Capital Expenditures | -234.9M | 0 | 17.31M | -17.31M | -78.68M | -72.16M | -36.01M | -17.02M | -49.38M | -50.29M | -41.28M | -36.09M | -34.63M | -34.58M | -26.66M | -32.84M | -28.37M | -33.5M | -18.81M | -9.9M |
| CapEx % of Revenue | 26.15% | - | 2.12% | 2.2% | 10.94% | 10.64% | 5.56% | 2.71% | 8.33% | 9.09% | 7.86% | 7.27% | 7.61% | 8.26% | 6.88% | 9.24% | 8.92% | 11.68% | 7.36% | 4.3% |
| Acquisitions | -148.03M | -97.27M | 0 | -672.78M | 0 | 0 | -834K | 0 | -12.92M | -357.4M | -2.1M | -4.38M | 7.57M | -15.64M | -88.73M | 33.38M | -24.91M | -330K | -4.83M | -50K |
| Investments | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Other Investing | 85.95M | -61.13M | -48.62M | -17.67M | 0 | -19.45M | 0 | -22.43M | -17.86M | 0 | 2.1M | 0 | -7.57M | 0 | 88.73M | -33.38M | 0 | 330K | 4.45M | 50K |
| Cash from Financing | 37.91M | -684K | 21.4M | 3.79M | 395.11M | -399K | 24.91M | 890K | 34.51M | 7.44M | 21M | 1.26M | 31.39M | 1.09M | 12.53M | 980K | 23.69M | 1.32M | 13.73M | 2.59M |
| Debt Issued (Net) | 0 | 0 | 0 | 0 | 354.16M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Equity Issued (Net) | 41.89M | -3.98M | 21.51M | 3.98M | 41.3M | 41K | 24.91M | 890K | 34.55M | 7.44M | 21M | 1.26M | 31.6M | 1.09M | 12.53M | 982K | 23.89M | 1.32M | 13.74M | 2.64M |
| Dividends Paid | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Share Repurchases | -21.51M | 21.51M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Financing | -3.98M | 3.3M | -110K | -197K | -352K | -440K | 0 | 0 | -39K | 0 | 0 | 0 | -215K | 0 | 0 | -2K | -202K | -1K | -2K | -50K |
| Net Change in Cash | -53.76M | -220.64M | -135.44M | -1.05B | 398.13M | 232.38M | 204.86M | 130.56M | 163.88M | -179.39M | 76.86M | 99.52M | -13.09M | 18.29M | 172.07M | 71.73M | 418.32M | 185.07M | 38.12M | 95.8M |
| Free Cash Flow | 64.04M | 198.02M | 239.06M | 413.3M | 171.92M | 119.46M | 143.43M | 291.88M | 136.32M | 123.13M | 100.79M | 224.72M | 101.3M | 73.89M | 62.82M | 95.61M | 74.77M | 43.74M | 29.45M | 83.37M |
| FCF Margin % | 7.13% | 23.28% | 29.31% | 52.44% | 23.9% | 17.62% | 22.14% | 46.48% | 22.99% | 22.26% | 19.2% | 45.24% | 22.26% | 17.64% | 16.21% | 26.89% | 23.51% | 15.25% | 11.52% | 36.17% |
| FCF Growth % | -62.75% | 65.76% | 66.67% | 41.6% | 26.12% | -2.97% | 42.31% | 29.89% | 34.57% | 66.64% | 60.44% | 135.03% | 35.48% | 68.9% | 113.31% | 14.69% | 169.92% | -21.58% | 63.3% | 97.43% |
| FCF per Share | 0.40 | 1.23 | 1.50 | 2.61 | 1.10 | 0.77 | 0.93 | 1.91 | 0.90 | 0.80 | 0.68 | 1.52 | 0.69 | 0.51 | 0.43 | 0.67 | 0.53 | 0.31 | 0.21 | 0.60 |
| FCF Conversion (FCF/Net Income) | -82.90x | -14.26x | -5.95x | -38.59x | -14.26x | -51.17x | -23.23x | -27.49x | -13.68x | 9.07x | -4.99x | -7.79x | -4.43x | -2.36x | -1.56x | -1.88x | -1.06x | -0.76x | -0.48x | -1.03x |
| Interest Paid | 0 | 0 | 0 | 0 | -718K | 0 | 718K | 0 | 718K | 0 | 0 | 0 | 719K | 0 | 0 | 0 | 719K | 0 | 0 | 0 |
| Taxes Paid | -36.11M | 0 | 0 | 12.39M | -17.84M | 934K | 7.5M | 9.4M | 3.69M | 7.92M | 6.22M | 5.29M | 8.36M | 3.57M | 5K | 3M | 1.69M | 140K | 1.3M | 2.48M |