ZS

+ Watchlist + Portfolio

Zscaler, Inc.

GridBrain — Sign in

GridSentinel — Sign in

GridAegis — Sign in

Key Metrics

Previous Close: $184.60
52-Week Range: $114.63 – $336.99
Market Cap: $28.29B
P/E (TTM): —
EPS (TTM): -0.48
Dividend Yield: —

Advanced Metrics

Price/Book: 11.95
PEG Ratio: 2.01
Return on Equity: -3.71%
Return on Assets: -1.36%
Gross Margin: 76.74%
Operating Margin: -3.28%
Profit Margin: -2.44%
Current Ratio: 1.86
Debt/Equity: 0.79
Total Debt: $1.87B
Free Cash Flow: $1.11B
Revenue Growth: 25.40%
Earnings Growth: —
Enterprise Value: $26.62B

ZS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Revenue	$1.09B	$1.62B	$2.17B	$2.67B
Cost of Revenue	$242.28M	$362.83M	$477.13M	$618.18M
Gross Profit	$848.66M	$1.25B	$1.69B	$2.05B
Research & Development	$289.14M	$350.79M	$499.83M	$672.49M
Selling, General & Admin	$886.95M	$1.14B	$1.31B	$1.51B
Operating Expenses	$1.18B	$1.49B	$1.81B	$2.18B
Operating Income	-$327.43M	-$234.62M	-$121.48M	-$127.14M
EBITDA	-$277.58M	-$109.21M	$64.83M	$108.12M
Pretax Income	-$383.63M	-$182.56M	-$29.23M	-$18.29M
Income Tax	$6.65M	$19.77M	$28.48M	$23.19M
Net Income	-$390.28M	-$202.34M	-$57.71M	-$41.48M
Diluted EPS	-2.77	-1.40	-0.39	-0.27
Diluted Shares	140.90M	144.94M	149.59M	154.40M

ZS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Cash & Equivalents	$1.01B	$1.26B	$1.42B	$2.39B
Receivables	$399.75M	$582.64M	$736.53M	$992.18M
Current Assets	$2.26B	$2.89B	$3.40B	$4.89B
Total Assets	$2.83B	$3.61B	$4.70B	$6.42B
Current Liabilities	$1.13B	$1.54B	$3.11B	$2.43B
Long-Term Debt	$968.67M	$1.13B	—	$1.70B
Total Debt	$1.05B	$1.21B	$1.24B	$1.80B
Total Liabilities	$2.26B	$2.88B	$3.43B	$4.62B
Retained Earnings	-$991.88M	-$1.09B	-$1.15B	-$1.19B
Shareholders' Equity	$573.30M	$725.11M	$1.27B	$1.80B
Working Capital	$1.12B	$1.35B	$283.73M	$2.46B

ZS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025
Operating Cash Flow	$321.91M	$462.34M	$779.85M	$972.45M
Capital Expenditure	-$90.58M	-$128.72M	-$194.90M	-$245.76M
Free Cash Flow	$231.33M	$333.62M	$584.95M	$726.69M
Depreciation & Amortisation	$49.47M	$66.82M	$80.93M	$121.18M
Stock-Based Compensation	$409.56M	$444.83M	$527.68M	$661.35M
Investing Cash Flow	$374.06M	-$259.34M	-$683.18M	-$427.02M
Financing Cash Flow	$41.34M	$45.99M	$64.21M	$420.51M
Net Change in Cash	$737.31M	$249.00M	$160.87M	$965.94M

ZS Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$678.03M	$719.23M	$788.11M	$815.75M	$850.48M
Cost of Revenue	$155.98M	$172.24M	$184.75M	$191.26M	$192.65M
Gross Profit	$522.06M	$546.99M	$603.36M	$624.49M	$657.82M
Research & Development	$169.76M	$177.61M	$200.50M	$229.14M	$232.28M
Selling, General & Admin	$377.70M	$398.61M	$439.22M	$442.93M	$455.18M
Operating Expenses	$547.47M	$577.91M	$639.72M	$676.26M	$687.46M
Operating Income	-$25.41M	-$30.93M	-$36.36M	-$51.77M	-$29.64M
EBITDA	$38.97M	$30.22M	$35.04M	$26.94M	$49.79M
Pretax Income	$4.56M	-$1.90M	-$8.37M	-$21.30M	-$2.37M
Income Tax	$8.69M	$15.68M	$3.24M	$13.01M	$11.51M
Net Income	-$4.13M	-$17.58M	-$11.62M	-$34.31M	-$13.88M
Diluted EPS	-0.03	-0.11	-0.07	-0.21	-0.09
Diluted Shares	154.91M	156.50M	158.60M	159.68M	160.74M

ZS Balance Sheet statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$1.99B	$2.39B	$1.34B	$1.20B	$982.11M
Receivables	$615.79M	$992.18M	$530.49M	$551.82M	$730.46M
Current Assets	$3.92B	$4.89B	$4.21B	$4.45B	$4.65B
Total Assets	$5.34B	$6.42B	$6.50B	$6.75B	$7.10B
Current Liabilities	$3.17B	$2.43B	$2.31B	$2.34B	$2.50B
Long-Term Debt	—	$1.70B	$1.70B	$1.70B	$1.70B
Total Debt	$1.23B	$1.80B	$1.83B	$1.86B	$1.86B
Total Liabilities	$3.53B	$4.62B	$4.52B	$4.56B	$4.73B
Retained Earnings	-$1.17B	-$1.19B	-$1.20B	-$1.24B	-$1.25B
Shareholders' Equity	$1.80B	$1.80B	$1.98B	$2.20B	$2.37B
Working Capital	$747.00M	$2.46B	$1.90B	$2.11B	$2.15B
Net Debt	—	—	$361.68M	$499.97M	$717.52M

ZS Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	$211.08M	$250.60M	$448.28M	$204.07M	$198.02M
Capital Expenditure	-$91.62M	-$78.68M	-$34.98M	-$34.94M	-$62.06M
Free Cash Flow	$119.46M	$171.92M	$413.30M	$169.13M	$135.95M
Depreciation & Amortisation	$32.45M	$34.34M	$41.28M	$46.06M	$49.46M
Stock-Based Compensation	$159.40M	$172.65M	$188.59M	$216.55M	$205.19M
Investing Cash Flow	$21.70M	-$247.58M	-$1.50B	-$360.91M	-$418.65M
Financing Cash Flow	-$399.00K	$395.11M	$3.10M	$21.40M	$0.00
Net Change in Cash	$232.38M	$398.13M	-$1.05B	-$135.44M	-$220.64M

Market Snapshot

About

Zscaler Inc. provides cloud-based information security services protecting users, applications, and data across distributed networks. The company delivers zero trust security architecture eliminating traditional network perimeters. Zscaler serves enterprises transitioning to cloud and mobile computing environments.