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Zscaler, Inc.

$168.72 ▲ +6.16 (+3.79%) at close

11 Visible periods

30 Metrics

Peer-ranked Benchmarks

Price Chart

Health

Poor

Bearish

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Analytical Summary

Zscaler, Inc. faces fundamental challenges with weakness in Operating Margin (%). The fundamentals warrant careful consideration of downside risks.

Market Cap $26.1B

Dividend Yield —

Revenue Growth 23.3% ↘

Op. Margin -4.8% ↗

ROIC -16.2% ↘

FCF / Share $5.23 ↗

Trailing P/E —

Price / Book 14.8x

FCF Yield 3.1%

Debt / Equity —

info Valuation on last close. End-of-day price, Aug 7, 2026.

11-Year Financial Trajectory

Annual

Metric Value Trend Year over Year Percentile

Revenue Total top-line sales

$2.67B

↑ +23.3% —

Net Income Profit after all expenses

$-41.48M

↑ +28.1% —

Operating Margin Operating profit as % of sales

-4.8%

↑ +14.2% 20th

FCF / Share Free cash flow per share

$5.23

↑ +23.3% —

Long-Term Debt Long-term obligations

$1.14B

↑ +0.7% —

trending_up

Bullish Indicators

No bullish signals detected.

warning

Bearish Risks

Operating Margin (%)Operating Margin (%) is in the bottom quartile

Health Breakdown

Profitability ↑

Returns ↑

Financial Health ↓

Cash Quality ↓

Financial view

Statement lens

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Cadence

Annual Quarterly

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📈 Is growth accelerating? 6 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Revenue Growth YoY (%)	23.3% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+94%)	34.1% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+184%)	48.2% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+302%)	62.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+417%)	56.1% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+367%)	42.4% Excellent ↓ Excellent Declining Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+253%)	59.2% Excellent ↑ Excellent Improving Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+394%)	51.3% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+327%)	56.5% Excellent Excellent Year-over-year change in total revenue Optimal: > 10% vs Sector: Above avg (+371%)	—	—
EPS Growth YoY (%)	30.8% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	72.1% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	49.5% Excellent ↑ Excellent Improving Year-over-year change in earnings per share Optimal: > 10%	-43.5% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	-116.9% Weak Weak Year-over-year change in earnings per share Optimal: > 10%	—	—	—	—	—	—
Net Income Growth YoY (%)	28.1% Excellent ↑ Excellent Improving Year-over-year change in net income	71.5% Excellent ↑ Excellent Improving Year-over-year change in net income	48.2% Excellent ↑ Excellent Improving Year-over-year change in net income	-48.9% Weak ↑ Weak Improving Year-over-year change in net income	-127.6% Weak ↓ Weak Declining Year-over-year change in net income	-301.7% Weak ↓ Weak Declining Year-over-year change in net income	14.8% Fair ↑ Fair Improving Year-over-year change in net income	5.1% Fair Fair Year-over-year change in net income	-29.2% Weak Weak Year-over-year change in net income	—	—
FCF Growth YoY (%)	23.3% Good ↓ Good Declining Year-over-year change in free cash flow	68.6% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	40.5% Excellent ↓ Excellent Declining Year-over-year change in free cash flow	58.1% Excellent Excellent Year-over-year change in free cash flow	304.7% Excellent Excellent Year-over-year change in free cash flow	—	—	—	—	—	—
Revenue CAGR 3Y (%)	34.8% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	47.7% Excellent ↓ Excellent Declining Compound annual revenue growth over 3 years	55.4% Excellent ↑ Excellent Improving Compound annual revenue growth over 3 years	53.3% Excellent → Excellent Stable Compound annual revenue growth over 3 years	52.4% Excellent → Excellent Stable Compound annual revenue growth over 3 years	50.8% Excellent Excellent Compound annual revenue growth over 3 years	55.6% Excellent Excellent Compound annual revenue growth over 3 years	—	—	—	—
Revenue CAGR 5Y (%)	44.0% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	48.2% Excellent ↓ Excellent Declining Compound annual revenue growth over 5 years	53.4% Excellent → Excellent Stable Compound annual revenue growth over 5 years	54.1% Excellent Excellent Compound annual revenue growth over 5 years	53.0% Excellent Excellent Compound annual revenue growth over 5 years	—	—	—	—	—	—

💰 Are margins durable? 5 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Operating Margin (%) (%)	-4.8% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-124%)	-5.6% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-128%)	-14.5% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-173%)	-30.0% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-250%)	-30.9% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-254%)	-26.4% Weak ↓ Weak Declining Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-232%)	-11.7% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-158%)	-18.2% Weak ↑ Weak Improving Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-191%)	-27.9% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-239%)	-33.4% Weak Weak Operating income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-267%)	—
Effective Tax Rate (%) (%)	-126.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-97.4% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-10.8% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.7% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.9% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.1% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.7% Excellent ↑ Excellent Improving Actual taxes paid relative to pre-tax income Optimal: 15-25%	-4.1% Excellent ↓ Excellent Declining Actual taxes paid relative to pre-tax income Optimal: 15-25%	-2.5% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	-1.7% Excellent Excellent Actual taxes paid relative to pre-tax income Optimal: 15-25%	—
Profit Margin (%) (%)	-1.6% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-110%)	-2.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-118%)	-12.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-183%)	-35.8% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-338%)	-38.9% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-360%)	-26.7% Weak ↓ Weak Declining Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-278%)	-9.5% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-163%)	-17.7% Weak ↑ Weak Improving Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-218%)	-28.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-288%)	-34.2% Weak Weak Net income as a percentage of revenue Optimal: > 15% vs Sector: Below avg (-328%)	—
FCF Margin (%) (%)	30.2% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	29.3% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	22.6% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	23.2% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	22.9% Excellent ↑ Excellent Improving Free cash flow as a percentage of revenue Optimal: > 10%	8.4% Caution ↑ Caution Improving Free cash flow as a percentage of revenue Optimal: > 10%	10.7% Fair ↑ Fair Improving Free cash flow as a percentage of revenue Optimal: > 10%	2.1% Weak ↑ Weak Improving Free cash flow as a percentage of revenue Optimal: > 10%	-11.0% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	-21.6% Weak Weak Free cash flow as a percentage of revenue Optimal: > 10%	—
FCF / Net Income (x)	-19.49x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-11.01x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.80x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.65x Weak → Weak Stable Free cash flow relative to reported net income Optimal: > 1x	-0.59x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.31x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-1.13x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	-0.12x Weak ↓ Weak Declining Free cash flow relative to reported net income Optimal: > 1x	0.39x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	0.63x Weak Weak Free cash flow relative to reported net income Optimal: > 1x	—

🎯 Is capital allocation efficient? 3 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Return on Invested Capital (%)	-16.2% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-9.9% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-14.0% Weak ↑ Weak Improving Return earned on debt + equity capital invested Optimal: > 10%	-21.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-14.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-8.6% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-11.7% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	-15.0% Weak ↓ Weak Declining Return earned on debt + equity capital invested Optimal: > 10%	23.8% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	21.9% Excellent Excellent Return earned on debt + equity capital invested Optimal: > 10%	—
Return on Capital (%) (%)	-2.0% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-2.6% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-6.5% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-11.6% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-9.2% Weak ↓ Weak Declining Operating profit relative to total assets Optimal: > 10%	-6.2% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-5.8% Weak ↑ Weak Improving Operating profit relative to total assets Optimal: > 10%	-7.7% Weak Weak Operating profit relative to total assets Optimal: > 10%	-19.2% Weak Weak Operating profit relative to total assets Optimal: > 10%	—	—
Return on Common Equity (%) (%)	-2.3% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-112%)	-4.5% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-124%)	-27.9% Weak ↑ Weak Improving Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-251%)	-68.1% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-468%)	-49.5% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-368%)	-23.7% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-228%)	-9.3% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-150%)	-14.0% Weak ↓ Weak Declining Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Below avg (-176%)	23.5% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+27%)	22.0% Excellent Excellent Profit generated per dollar of shareholder equity Optimal: > 15% vs Sector: Above avg (+19%)	—

⚖️ Is the balance sheet risky? 4 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Debt to Equity (x)	—	0.90x Fair ↓ Fair Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+99%)	1.56x Weak ↓ Weak Declining Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+248%)	1.69x Weak → Weak Stable Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+275%)	1.73x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+284%)	1.78x Weak Weak Total debt relative to shareholder equity Optimal: < 0.6x vs Sector: Above avg (+295%)	—	—	—	—	—
Interest Coverage (x)	-89.46x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-22.71x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-35.87x Weak ↓ Weak Declining Operating income divided by interest expense Optimal: > 5x	-5.79x Weak ↑ Weak Improving Operating income divided by interest expense Optimal: > 5x	-3.89x Weak Weak Operating income divided by interest expense Optimal: > 5x	-22.68x Weak Weak Operating income divided by interest expense Optimal: > 5x	—	—	—	—	—
Net Debt (USD)	$-2.39B	$-280.81M	$-128.05M	$-44.54M	$637.64M	$719.76M	$-78.48M	$-135.58M	$-87.98M	$-92.84M	$-83.84M
Debt / EBITDA (x)	—	-9.40x Excellent ↓ Excellent Declining Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-4.83x Excellent → Excellent Stable Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-2.96x Excellent ↑ Excellent Improving Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-4.40x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	-7.56x Excellent Excellent Debt relative to earnings before interest, taxes, depreciation Optimal: < 2x	—	—	—	—	—

📊 What does each share earn? 6 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Revenue per Share (USD)	$17.31	$14.49	$11.16	$7.74	$4.96	$3.33	—	—	—	—	—
Basic EPS, GAAP (USD)	$-0.27	$-0.39	$-1.40	$-2.77	$-1.93	$-0.89	—	—	—	—	—
Free Cash Flow per Share (USD)	$5.23	$4.25	$2.52	$1.79	$1.13	$0.28	—	—	—	—	—
Book Value per Share (USD)	$11.37	$8.36	$4.93	$4.01	$3.81	$3.65	$2.42	$2.01K	$-4.67	—	—
Tangible Book Value per Share (USD)	$8.73	$5.62	$4.32	$3.46	$3.39	$3.42	$2.37	$2.01K	$-4.67	—	—
Basic Weighted Avg Shares (shares)	154.40M	149.59M	144.94M	140.90M	135.65M	129.32M	—	—	—	—	—

🏦 How resilient is the balance sheet? 3 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Working Capital (USD)	$2.46B	$283.73M	$1.35B	$1.12B	$1.13B	$1.16B	$234.14M	$204.33M	$22.45M	—	—
LT Debt (USD)	—	$1.14B	$1.13B	$968.67M	$913.54M	$861.62M	—	—	—	—	—
Total Equity (USD)	$1.80B	$1.27B	$725.11M	$573.30M	$528.89M	$484.83M	$308.56M	$240.24M	$-151.14M	$-124.74M	$-95.33M

📋 What is driving earnings? 3 metrics

Metric	FY 2025 Jul 31, 2025 10-K ↗	FY 2024 Jul 31, 2024 10-K ↗	FY 2023 Jul 31, 2023 10-K ↗	FY 2022 Jul 31, 2022 10-K ↗	FY 2021 Jul 31, 2021 10-K ↗	FY 2020 Jul 31, 2020 10-K ↗	FY 2019 Jul 31, 2019 10-K ↗	FY 2018 Jul 31, 2018 10-K ↗	FY 2017 Jul 31, 2017 10-K ↗	FY 2016 Jul 31, 2016 10-K ↗	FY 2015 Jul 31, 2015 10-K ↗
Sales/Revenue/Turnover (USD)	$2.67B	$2.17B	$1.62B	$1.09B	$673.10M	$431.27M	$302.84M	$190.17M	$125.72M	$80.33M	—
Net Income, GAAP (USD)	$-41.48M	$-57.71M	$-202.34M	$-390.28M	$-262.03M	$-115.12M	$-28.66M	$-33.65M	$-35.46M	$-27.44M	—
Operating Cash Flow (USD)	$972.45M	$779.85M	$462.34M	$321.91M	$202.04M	$79.32M	$58.03M	$17.31M	$-6.02M	$-11.92M	—

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bar_chart Data from SEC EDGAR XBRL filings

Synced 1 week ago 11 years · 40 quarters

Zscaler, Inc.

Analytical Summary

11-Year Financial Trajectory

Bullish Indicators

Bearish Risks

Health Breakdown

Statement lens

Benchmark Lens

Signals

Percentile Rankings

Peer Comparison

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