Zscaler
ZS Nasdaq· Systems Software
Last close · Oct 26, 2026
$260.45
KIRA · Stoqly’s AI analyst, in plain words
- Zscaler had $3.4B of revenue in fiscal 2026, up 25.4% on the year before. Over five years, revenue changed +37.9% a year on average.
- Its operating margin was −4.0%, up 0.8 pts: of every 100 in sales, about −4 is left after running the business.
- Zscaler lost $63.2M in fiscal 2026.
- Free cash flow was $852M in fiscal 2026, 25.4% of revenue.
- Zscaler returned $0.0M to shareholders in fiscal 2026, 0% of free cash flow. The diluted share count rose 3.8%.
- Zscaler has $1.8B more cash than debt.
Market cap
$41.7B
P/E
—
Revenue
$3.4B
Net income
−$63.2M
Free cash flow
$852M
Operating margin
−4.0%
Zscaler in 30 seconds · fiscal 2026
Are sales growing?
+25.4%
Yes. Sales grew 25.4% last year.
Does it make a profit?
−1.9%
No. It lost money last year.
Does profit turn into cash?
25.4%
Yes. 25.4% of sales ends up as free cash.
Is debt under control?
Net cash
Yes. It has more cash than debt.
How healthy are the accounts?
3 / 9
Weak. It passes 3 of 9 health tests.
What Zscaler does
No business description yet.
- Fiscal year ends
- July 31, 2026
- Latest annual report
- 10-K · Sep 3, 2026
- Legal name
- Zscaler Inc
- CIK
- 0001713683
Zscaler · ZS
Results and finances
The last 5 fiscal years. Amounts in USD.
| Fiscal year | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|
| Sales and profit | |||||
| Revenue | $1.1B | $1.6B | $2.2B | $2.7B | $3.4B |
| Revenue growth | 62.1% | 48.2% | 34.1% | 23.3% | 25.4% |
| Gross margin | 77.8% | 77.6% | 78.0% | 76.9% | 76.8% |
| Operating margin | −30.0% | −14.5% | −5.6% | −4.8% | −4.0% |
| Net income | −$390M | −$202M | −$57.7M | −$41.5M | −$63.2M |
| Net margin | −35.8% | −12.5% | −2.7% | −1.6% | −1.9% |
| Diluted EPS | −$2.77 | −$1.40 | −$0.39 | −$0.27 | −$0.39 |
| Cash | |||||
| Cash from operations | $322M | $462M | $780M | $973M | $1.1B |
| Capital expenditure | $69.3M | $97.2M | $145M | $164M | $277M |
| Free cash flow | $253M | $365M | $635M | $808M | $852M |
| FCF margin | 23.2% | 22.6% | 29.3% | 30.2% | 25.4% |
| Dividends paid | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share buybacks | $0.0M | $0.0M | $0.0M | $0.0M | $0.0M |
| Share count change | 3.9% | 2.9% | 3.2% | 3.2% | 3.8% |
| Debt and strength | |||||
| Cash and short-term investments | $1.7B | $2.1B | $2.4B | $3.6B | $3.5B |
| Debt incl. finance leases | $969M | $1.1B | $1.1B | $1.7B | $1.7B |
| Shareholders' equity | $573M | $725M | $1.3B | $1.8B | $2.6B |
| Net debt / EBITDA | — | — | — | — | −116.4x |
| Current ratio | 2.0x | 1.9x | 1.1x | 2.0x | 1.7x |
| Interest coverage | −5.8x | −35.9x | −9.3x | −13.5x | −11.3x |
| Returns and quality | |||||
| Return on equity | −70.8% | −31.2% | −5.8% | −2.7% | −2.9% |
| Piotroski F-score | 5 | 5 | 6 | 4 | 3 |
| Altman Z'' | 1.0 | 1.3 | −0.2 | 2.2 | 1.6 |
Insiders bought, 12 months
$0.0M
0 insiders
Insiders sold, 12 months
$22.4M
7 insiders
Of sales under plans
57%
$12.7M
How to read these numbers
- Revenue:
- Total sales reported in the income statement.
- Operating margin:
- Operating income as a share of revenue.
- Net income:
- Profit after all expenses, interest and tax.
- Free cash flow:
- Cash from operations minus capital spending.
- Net debt / EBITDA:
- Years of EBITDA needed to pay off net debt. Below zero means more cash than debt.
- Return on capital:
- After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
Zscaler · ZS
Charts and comparison
Ten years at a glance, and how it stacks up against similar companies.
Revenue
Net income
Margins, % of revenue
Cash vs debt (incl. leases)
Free cash flow
Dividends and buybacks
Similar companies
Each company’s latest fiscal year. Fiscal years end in different months, so periods don’t line up exactly.
| Company | Market cap | Growth | Op. margin | FCF margin | ROIC | P/E | F-score |
|---|---|---|---|---|---|---|---|
| Zscaler ZS | $41.7B | 25.4% | −4.0% | 25.4% | — | — | 3 |
| Nutanix NTNX | — | 12.4% | 9.6% | 29.5% | — | — | — |
| Check Point CHKP | $17.5B | 6.3% | 30.5% | 43.0% | — | — | 7 |
| CrowdStrike CRWD | $273.5B | 21.7% | −6.1% | 27.2% | — | — | 4 |
| Gen Digital GEN | $14.7B | 27.1% | 42.4% | 30.5% | 13.7% | 14.3x | 7 |
KIRA
At $260.45 a share, the company is worth $41.7B.
Zscaler grew sales faster than 3 of its 4 similar companies.
Source: SEC EDGAR XBRL filings (CIK 0001713683). Data updated October 12, 2026. For information only — not investment advice. Check the original filings before relying on any figure.