ZS

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Zscaler, Inc.

Recurring revenue Sells to businessesTags from an AI model reading the company description.

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Key Metrics

Previous Close: $198.78
52-Week Range: $114.63 – $336.99
Market Cap: $32.06B
P/E (TTM): —
EPS (TTM): -0.39
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 12.34
PEG Ratio: 2.01
Return on Equity: -2.87%
Return on Assets: -1.03%
Gross Margin: 76.87%
Operating Margin: -1.01%
Profit Margin: -1.88%
Current Ratio: 1.70
Debt/Equity: 0.72
Total Debt: $1.87B
Free Cash Flow: $1.07B
Revenue Growth: 24.90%
Earnings Growth: —
Enterprise Value: $30.45B

ZS Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$1.09B	$1.62B	$2.17B	$2.67B	$3.35B
Cost of Revenue	$242.28M	$362.83M	$477.13M	$618.18M	$777.63M
Gross Profit	$848.66M	$1.25B	$1.69B	$2.05B	$2.57B
Research & Development	$289.14M	$350.79M	$499.83M	$672.49M	$903.40M
Selling, General & Admin	$886.95M	$1.14B	$1.31B	$1.51B	$1.78B
Operating Expenses	$1.18B	$1.49B	$1.81B	$2.18B	$2.70B
Operating Income	-$327.43M	-$234.62M	-$121.48M	-$127.14M	-$121.14M
EBITDA	-$277.58M	-$109.21M	$60.92M	$108.12M	$178.50M
Pretax Income	-$383.63M	-$182.56M	-$29.23M	-$18.29M	-$17.14M
Income Tax	$6.65M	$19.77M	$28.48M	$23.19M	$46.04M
Net Income	-$390.28M	-$202.34M	-$57.71M	-$41.48M	-$63.18M
Diluted EPS	-2.77	-1.40	-0.39	-0.27	-0.39
Diluted Shares	140.90M	144.94M	149.59M	154.40M	160.22M

ZS Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$1.01B	$1.26B	$1.42B	$2.39B	$928.35M
Receivables	$399.75M	$582.64M	$736.53M	$992.18M	$1.15B
Current Assets	$2.26B	$2.89B	$3.40B	$4.89B	$5.03B
Total Assets	$2.83B	$3.61B	$4.70B	$6.42B	$7.87B
Current Liabilities	$1.13B	$1.54B	$3.11B	$2.43B	$2.96B
Long-Term Debt	$968.67M	$1.13B	—	$1.70B	$1.70B
Total Debt	$1.05B	$1.21B	$1.24B	$1.80B	$1.86B
Total Liabilities	$2.26B	$2.88B	$3.43B	$4.62B	$5.27B
Retained Earnings	-$991.88M	-$1.09B	-$1.15B	-$1.19B	-$1.25B
Shareholders' Equity	$573.30M	$725.11M	$1.27B	$1.80B	$2.60B
Working Capital	$1.12B	$1.35B	$283.73M	$2.46B	$2.07B
Net Debt	—	—	—	—	$768.00M

ZS Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$321.91M	$462.34M	$779.85M	$972.45M	$1.13B
Capital Expenditure	-$90.58M	-$128.72M	-$194.90M	-$245.76M	-$350.51M
Free Cash Flow	$231.33M	$333.62M	$584.95M	$726.69M	$779.14M
Depreciation & Amortisation	$49.47M	$66.82M	$80.93M	$121.18M	$192.01M
Stock-Based Compensation	$409.56M	$444.83M	$527.68M	$661.35M	$821.92M
Investing Cash Flow	$374.06M	-$259.34M	-$683.18M	-$427.02M	-$2.65B
Financing Cash Flow	$41.34M	$45.99M	$64.21M	$420.51M	$62.41M
Net Change in Cash	$737.31M	$249.00M	$160.87M	$965.94M	-$1.46B

ZS Income statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Revenue	$678.03M	$719.23M	$788.11M	$815.75M	$850.48M	$898.18M
Cost of Revenue	$155.98M	$172.24M	$184.75M	$191.26M	$192.65M	$208.96M
Gross Profit	$522.06M	$546.99M	$603.36M	$624.49M	$657.82M	$689.22M
Research & Development	$169.76M	$177.61M	$200.50M	$229.14M	$232.28M	$241.48M
Selling, General & Admin	$377.70M	$398.61M	$439.22M	$442.93M	$455.18M	$435.49M
Operating Expenses	$547.47M	$577.91M	$639.72M	$676.26M	$687.46M	$692.59M
Operating Income	-$25.41M	-$30.93M	-$36.36M	-$51.77M	-$29.64M	-$3.36M
EBITDA	$38.97M	$30.22M	$35.04M	$26.94M	$49.79M	$64.70M
Pretax Income	$4.56M	-$1.90M	-$8.37M	-$21.30M	-$2.37M	$14.90M
Income Tax	$8.69M	$15.68M	$3.24M	$13.01M	$11.51M	$18.27M
Net Income	-$4.13M	-$17.58M	-$11.62M	-$34.31M	-$13.88M	-$3.37M
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	Q3 2026
Cash & Equivalents	$1.99B	$2.39B	$1.34B	$1.20B	$982.11M	$928.35M
Receivables	$615.79M	$992.18M	$530.49M	$551.82M	$730.46M	$1.15B
Current Assets	$3.92B	$4.89B	$4.21B	$4.45B	$4.65B	$5.03B
Total Assets	$5.34B	$6.42B	$6.50B	$6.75B	$7.10B	$7.87B
Current Liabilities	$3.17B	$2.43B	$2.31B	$2.34B	$2.50B	$2.96B
Long-Term Debt	—	$1.70B	$1.70B	$1.70B	$1.70B	$1.70B
Total Debt	$1.23B	$1.80B	$1.83B	$1.86B	$1.86B	$1.86B
Total Liabilities	$3.53B	$4.62B	$4.52B	$4.56B	$4.73B	$5.27B
Retained Earnings	-$1.17B	-$1.19B	-$1.20B	-$1.24B	-$1.25B	-$1.25B
Shareholders' Equity	$1.80B	$1.80B	$1.98B	$2.20B	$2.37B	$2.60B
Working Capital	$747.00M	$2.46B	$1.90B	$2.11B	$2.15B	$2.07B
Net Debt	—	—	$361.68M	$499.97M	$717.52M	$768.00M

ZS Cash Flow statement, quarterly periods, in USD
USD	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026	Q3 2026
Operating Cash Flow	$211.08M	$250.60M	$448.28M	$204.07M	$198.02M	$279.29M
Capital Expenditure	-$91.62M	-$78.68M	-$34.98M	-$34.94M	-$62.06M	-$218.52M
Free Cash Flow	$119.46M	$171.92M	$413.30M	$169.13M	$135.95M	$60.76M
Depreciation & Amortisation	$32.45M	$34.34M	$41.28M	$46.06M	$49.46M	$55.21M
Stock-Based Compensation	$159.40M	$172.65M	$188.59M	$216.55M	$205.19M	$211.59M
Investing Cash Flow	$21.70M	-$247.58M	-$1.50B	-$360.91M	-$418.65M	-$370.95M
Financing Cash Flow	-$399.00K	$395.11M	$3.10M	$21.40M	$0.00	$37.91M
Net Change in Cash	$232.38M	$398.13M	-$1.05B	-$135.44M	-$220.64M	-$53.76M

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.