Zscaler, Inc.
ZSNASDAQ
$238.37
Last price · USD
- Market cap
- $38.19B
- P/E
- —
- EV / EBITDA
- 209.7x
- P/S
- 11.4x
- FCF yield
- 2.2%
- Div. yield
- 0.00%
Multiples use last price and FY2026 annual figures. Market cap estimated from diluted shares.
Revenue
$3.35B
+25.4%
4Y CAGR +32.4%
Gross profit
$2.57B
+25.3%
4Y CAGR +32.0%
Operating income
-$133M
-3.7%
4Y CAGR —
Net income
-$63.2M
-52.3%
4Y CAGR —
EPS (diluted)
$-0.39
-44.4%
4Y CAGR —
Free cash flow
$852M
+17.3%
4Y CAGR +38.5%
Revenue & net income
Fiscal 2022–2026 · USD
RevenueNet income
Valuation
At $238.37 · FY2026 fundamentals
- Market cap
- $38.19B
- Enterprise value
- $39.12B
- P/E
- —
- P/S
- 11.4x
- P/B
- 14.7x
- EV / EBITDA
- 209.7x
- EV / Sales
- 11.7x
- Earnings yield
- -0.2%
- FCF yield
- 2.2%
- Shareholder yield
- 0.0%
Profitability
Margins as a share of revenue
| Metric | Latest | 4Y ago | Trend |
|---|---|---|---|
| Gross margin | 76.8%-0.9pp | 77.7% | |
| Operating margin | -4.0%+26.0pp | -30.0% | |
| EBITDA margin | 5.6%+31.0pp | -25.4% | |
| Net margin | -1.9%+33.9pp | -35.8% | |
| FCF margin | 25.4%+4.2pp | 21.2% |
Returns & financial health
FY2026 with 4-year trend
| Metric | Latest | 4Y ago | Trend |
|---|---|---|---|
| Return on equity | -2.4% | -68.1% | |
| Return on invested capital | -3.8% | -54.0% | |
| Return on assets | -0.8% | -13.8% | |
| Debt / equity | 0.71x | 1.82x | |
| Net debt / EBITDA | 4.97x | -0.12x | |
| Current ratio | 1.70x | 1.99x |
Cash & equivalents
$928M
Total debt
$1.86B
Capital allocation
How ZS used its cash in FY2026
- Operating cash flow
- $1.13B
- Capital expenditure
- $277M
- Dividends paid
- $0.00
- Share repurchases
- $0.00
- Stock-based compensation
- $822M
- Diluted shares
- 160.2M
- Share count change (4Y)
- +13.7%
Analyst estimates
Consensus for upcoming fiscal years
| Fiscal year | Revenue | Growth | EPS | Growth |
|---|---|---|---|---|
| FY2026 actual | $3.35B | $-0.39 | ||
| FY2027E25 analysts | $3.93B | +17.1% | $4.88 | +1350.9% |
| FY2028E24 analysts | $4.57B | +16.3% | $5.60 | +14.8% |
| FY2029E7 analysts | $5.31B | +16.2% | $6.55 | +17.0% |
About Zscaler, Inc.
Technology · Software - Infrastructure
Globally recognized, Zscaler, Inc. functions as a leading provider of cloud-based security solutions. Its core offerings include Zscaler Internet Access (ZIA), which ensures secure connectivity for a diverse range of entities – including users, servers, operational technology (OT), and IoT devices – when accessing external resources like software-as-a-service (SaaS) applications and general internet destinations.
zscaler.com- Sector
- Technology
- Industry
- Software - Infrastructure
- CEO
- Jagtar Singh Chaudhry
- Employees
- 8,700
- Headquarters
- San Jose, CA, US
- IPO date
- 2018-03-16
Zscaler, Inc. (ZS) — frequently asked questions
Answered from the company's SEC filings
Globally recognized, Zscaler, Inc. functions as a leading provider of cloud-based security solutions.
Explore the full income statement, balance sheet and cash flow statement. Not investment advice.