Zscaler, Inc. (ZS)

Zscaler, Inc. operates as a cloud security company worldwide. The company offers cyberthreat protection products, including Zero Trust SASE, a solution that securely connects workforces, AI agents, workloads, and IoT/OT devices to cloud apps and AI services; Zscaler Internet Access, which provides advanced threat protection, sandbox, and zero trust firewall; Zscaler Private Access solution that includes cyberthreat and data protection, application discovery, secure application access, application segmentation, application protection, and reduced attack surface; Zero Trust Browser, a solution that secures browser-based access to business applications for the extended workforce, including third parties and partners; Zscaler Digital Experience, a solution that monitors end-user experience and helps organizations identify and resolve performance issues across their digital environment; Zero Trust Branch; and Zero Trust Cloud solutions. It also provides Security for AI solution to secure AI adoption across the full AI ecosystem; data security services, including AI-powered data classification and contextual insights, data loss prevention, Saas security, and data security posture management solution. In addition, the company offers Agentic Security Operations solution that enables enterprises to reduce cyber risk by using AI-powered automation; exposure management platform; deception; managed detection and response; agentic security operations center; and threat hunting solutions. It serves automotive, airlines and transportation, conglomerates, consumer goods and retail, energy, financial services, healthcare, insurance, 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.

Symbol
ZS
Exchange
Nasdaq
Sector
Technology
Industry
Software - Infrastructure
Market cap
$32.41B
52 week range
114.63 - 336.99

Valuation

Share price
$198.78 (close of 2026-10-01)
P/E (TTM)
-509.69x
Price to book
12.47x
Price to free cash flow
38.03x
Enterprise value
$33.34B
Book value per share
$15.93

Price performance

PeriodChange
1 day-0.32%
5 days-7.39%
1 month+11.44%
3 months+35.73%
6 months+45.45%
Year to date-11.62%
1 year-34.73%
3 years+27.76%
5 years-24.46%
All time+502.36%

Members of Congress who disclosed ZS trades

Robert Bresnahan

Super investors holding ZS

Dennis Hong (ShawSpring Partners LLC)

Profitability and growth

Return on equity
-2.43%
Return on invested capital
-3.78%
Return on assets
-0.80%
Return on capital employed
-2.72%
Gross margin
76.80%
Net margin
-1.88%
EBITDA margin
0.46%
Revenue growth
25.42%
Net income growth
-52.32%
Free cash flow growth
5.46%

Cash flow and balance sheet

Free cash flow yield (TTM)
2.63%
Current ratio
1.70x
Net debt to EBITDA
5.26x

Latest reported year

Period end
2026-07-31
Fiscal year
2026
Revenue
$3.35B
Cost of revenue
$777.63M
Gross profit
$2.57B
EBITDA
$15.28M
Net income
-$63.18M
Earnings per share
$-0.39
Research and development
$903.40M
Shares outstanding
160.22M

Income statement by year

Period endRevenueGross profitNet incomeEPS
2026-07-31$3.35B$2.57B-$63.18M$-0.39
2025-07-31$2.67B$2.05B-$41.48M$-0.27
2024-07-31$2.17B$1.69B-$57.71M$-0.39
2023-07-31$1.62B$1.25B-$202.34M$-1.40
2022-07-31$1.09B$848.66M-$390.28M$-2.77
2021-07-31$673.10M$522.78M-$262.03M$-1.93
2020-07-31$431.27M$335.54M-$115.12M$-0.89
2019-07-31$302.84M$243.17M-$28.66M$-0.23
2018-07-31$190.17M$152.30M-$33.65M$-0.63
2017-07-31$125.72M$98.25M-$35.46M$-1.54

Margins and returns by year

Period endGross marginNet marginReturn on equityReturn on capital
2026-07-3176.80%-1.88%-2.43%-3.78%
2025-07-3176.87%-1.55%-2.31%-10.64%
2024-07-3177.99%-2.66%-4.53%-11.16%
2023-07-3177.56%-12.51%-27.90%-34.84%
2022-07-3177.79%-35.77%-68.08%-54.05%
2021-07-3177.67%-38.93%-49.54%-17.07%
2020-07-3177.80%-26.69%-23.74%-9.13%
2019-07-3180.30%-9.46%-9.29%-15.35%
2018-07-3180.08%-17.69%-14.01%-33.08%
2017-07-3178.15%-28.21%23.46%-

Cash and debt by year

Period endCashDebt
2026-07-31$928.35M-
2025-07-31$2.39B-
2024-07-31$1.42B$1.14B
2023-07-31$1.26B$1.13B
2022-07-31$1.01B$968.67M
2021-07-31$275.90M$913.54M
2020-07-31$141.85M$861.62M
2019-07-31$78.48M-
2018-07-31$135.58M-
2017-07-31$87.98M-

Free cash flow by year

Period endFree cash flowStock-based compensation
2026-07-31$852.35M$821.92M
2025-07-31$808.20M$661.35M
2024-07-31$635.26M$527.68M
2023-07-31$365.15M$444.83M
2022-07-31$252.62M$409.56M
2021-07-31$153.88M$258.54M
2020-07-31$36.24M$121.39M
2019-07-31$32.51M$46.42M
2018-07-31$3.91M$11.22M
2017-07-31-$13.80M$9.92M

Investor relations

Next earnings report

Next confirmed report
2026-11-24
Consensus EPS estimate
$0.12

Past earnings dates

ReportedFiscal periodEPS estimate
2026-09-03Jul/2026$0.06
2026-05-26--
2026-02-26--
2025-11-25--
2025-09-02--
2025-05-29--
2025-03-05--
2024-12-02--

Filings and sources

Company website
zscaler.com
SEC filings
10-K, 10-Q and 8-K on EDGAR
Earnings calendar
All upcoming reports

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