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.
Zscaler, Inc. key metrics & ratios
Annual · USD millions except per-share data · 36 lines
| Fiscal year | 2026 | 2025 | 2024 | 2023 | 2022 | CAGR | |
|---|---|---|---|---|---|---|---|
| Growth (year over year) | |||||||
| Revenue growth | 25.4% | 23.3% | 34.1% | 48.2% | — | — | |
| Operating income growth | -3.7% | -3.7% | 42.5% | 34.2% | — | — | |
| Net income growth | -52.3% | 28.1% | 71.5% | 48.2% | — | — | |
| EPS (diluted) growth | -44.4% | 30.8% | 72.1% | 49.5% | — | — | |
| Free cash flow growth | 17.3% | 24.2% | 75.3% | 44.2% | — | — | |
| Margins | |||||||
| Gross margin | 76.8% | 76.9% | 77.9% | 77.6% | 77.7% | — | |
| Operating margin | -4.0% | -4.8% | -5.7% | -13.3% | -30.0% | — | |
| EBITDA margin | 5.6% | 4.2% | 3.0% | -6.7% | -25.4% | — | |
| Net margin | -1.9% | -1.6% | -2.7% | -12.5% | -35.8% | — | |
| FCF margin | 25.4% | 27.2% | 27.0% | 20.6% | 21.2% | — | |
| Returns on capital | |||||||
| Return on equity | -2.4% | -2.3% | -4.5% | -27.9% | -68.1% | — | |
| Return on assets | -0.8% | -0.6% | -1.2% | -5.6% | -13.8% | — | |
| Return on invested capital | -3.8% | -10.6% | -11.4% | -32.0% | -54.0% | — | |
| Leverage & liquidity | |||||||
| Debt / equity | 0.71x | 1.00x | 0.97x | 1.67x | 1.82x | — | |
| Net debt / EBITDA | 4.97x | -5.27x | -2.86x | 0.47x | -0.12x | — | |
| Current ratio | 1.70x | 2.01x | 1.09x | 1.88x | 1.99x | — | |
| Interest coverage | -11.30x | -13.49x | -9.46x | -31.59x | -5.79x | — | |
| Profitability & operating | |||||||
| EBIT | (5) | (9) | (16) | (176) | (327) | — | |
| EBITDA | 187 | 112 | 65 | (109) | (278) | — | |
| Operating income | (133) | (128) | (124) | (215) | (327) | — | |
| Income before tax | (17) | (18) | (29) | (183) | (384) | — | |
| Net income | (63) | (41) | (58) | (202) | (390) | — | |
| Earnings per share | |||||||
| EPS (basic) | (0.39) | (0.27) | (0.39) | (1.40) | (2.77) | — | |
| EPS (diluted) | (0.39) | (0.27) | (0.39) | (1.40) | (2.77) | — | |
| Share count (millions) | |||||||
| Weighted avg shares outstanding | 160 | 154 | 150 | 145 | 141 | +3.3% | |
| Weighted avg shares outstanding (diluted) | 160 | 154 | 150 | 145 | 141 | +3.3% | |
| Balance sheet highlights | |||||||
| Net debt | 927 | (592) | (185) | (52) | 33 | +131.1% | |
| Total debt | 1,856 | 1,797 | 1,238 | 1,211 | 1,046 | +15.4% | |
| Total investments | 2,546 | 1,183 | 987 | 838 | 718 | +37.2% | |
| Total stockholders' equity | 2,598 | 1,799 | 1,274 | 725 | 573 | +45.9% | |
| Total assets | 7,867 | 6,420 | 4,705 | 3,608 | 2,833 | +29.1% | |
| Cash flow highlights | |||||||
| Free cash flow | 852 | 727 | 585 | 334 | 231 | +38.5% | |
| Operating cash flow | 1,130 | 972 | 780 | 462 | 322 | +36.9% | |
| Capital expenditure | (277) | (246) | (195) | (129) | (91) | — | |
| Net cash from operating activities | 1,130 | 972 | 780 | 462 | 322 | +36.9% | |
| Additional fields | |||||||
| Accrued Expenses | 368 | 215 | 190 | 157 | 46 | +67.7% | |