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Zscaler, Inc. ZS

Nasdaq · stock · Services-Computer Programming Services · website · IPO 2018-03-16 · LEI

Zscaler, Inc. statistics & valuation

Market cap$20.6B
P / S6.1×
P / B7.9×
P / FCF24.1×
Net margin-1.9%
Return on equity-2.4%
FCF margin25.4%
Return on capital-2.7%

Market cap as of 2026-06-29. Multiples are price-derived and refreshed daily; everything else from the latest financial reports.

Profitability & efficiency

Net margin (%)
-28.20% -17.70% -9.50% -26.70% -38.90% -35.80% -12.50% -2.70% -1.60% -1.90% 2017201820192020202120222023202420252026
Gross margin (%)
78.10% 80.10% 80.30% 77.80% 77.70% 77.80% 77.60% 78.00% 76.90% 76.80% 2017201820192020202120222023202420252026
Operating margin (%)
-27.90% -18.20% -11.70% -26.40% -30.90% -30.00% -14.50% -5.60% -4.80% -4.00% 2017201820192020202120222023202420252026
Return on equity (%)
-14.00% -9.30% -23.70% -49.50% -68.10% -27.90% -4.50% -2.30% -2.40% 2017201820192020202120222023202420252026
Shares outstanding
32.4M 119764 127.3M 132.8M 138.7M 143.0M 147.2M 152.5M 158.3M 163.1M 2017201820192020202120222023202420252026
Net debt ($)
$719.8M $637.6M -$44.5M -$128.0M -$280.8M 2017201820192020202120222023202420252026
Share buybacks ($)
2017201820192020202120222023202420252026
Return on assets (%)
-19.40% -7.50% -4.70% -6.30% -11.60% -13.80% -5.60% -1.20% -0.60% -0.80% 2017201820192020202120222023202420252026
Free cash flow margin (%)
-11.00% 2.10% 10.70% 8.40% 22.90% 23.20% 22.60% 29.30% 30.20% 25.40% 2017201820192020202120222023202420252026
Debt / equity (×)
1.78× 1.73× 1.69× 1.56× 0.90× 2017201820192020202120222023202420252026
EPS ($)
-$0.23 -$0.89 -$1.93 -$2.77 -$1.40 -$0.39 -$0.27 -$0.39 2017201820192020202120222023202420252026

Margins and returns computed from annual filings. Falling shares outstanding = buybacks; rising = dilution. Net debt = debt − cash (negative = net cash).

Key ratios (by fiscal year)

RatioFY2026FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017
Gross margin76.8%76.9%78.0%77.6%77.8%77.7%77.8%80.3%80.1%78.1%
Operating margin-4.0%-4.8%-5.6%-14.5%-30.0%-30.9%-26.4%-11.7%-18.2%-27.9%
Net margin-1.9%-1.6%-2.7%-12.5%-35.8%-38.9%-26.7%-9.5%-17.7%-28.2%
FCF margin25.4%30.2%29.3%22.6%23.2%22.9%8.4%10.7%2.1%-11.0%
Return on assets-0.8%-0.6%-1.2%-5.6%-13.8%-11.6%-6.3%-4.7%-7.5%-19.4%
Return on equity-2.4%-2.3%-4.5%-27.9%-68.1%-49.5%-23.7%-9.3%-14.0%23.5%
Debt / equity——0.90×1.56×1.69×1.73×1.78×———
Current ratio1.702.011.091.881.992.573.731.892.121.19

Computed from company filings · US · as of 2025-07-31. Facts plus Stocktoria's own computed scores — not investment advice.