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ZSZscaler, Inc.
$150.42$24.3B
Overview & Verdict
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ZS logoZscaler, Inc.(ZS)Earnings, Financials & Key Ratios

ZS•NASDAQ
$150.42
Price updated Jul 6, 2026
SectorTechnologyIndustryInfrastructure SoftwareSub-IndustryCybersecurity and identity management
AboutZscaler, Inc. operates as a cloud security company worldwide. The company provides Zscaler Internet Access solution that provides users, servers, operational technology, Internet of Things device secure access to externally managed applications, including software-as-a-service (SaaS) applications and Internet destinations; and Zscaler Private Access solution, which is designed to provide access to managed applications hosted internally in data centers, and private or public clouds. It also offers Zscaler Digital Experience that measures end-to-end user experience across business applications, as well as provides an easy to understand digital experience score for each user, application, and location within an enterprise. In addition, the company provides workload segmentation solutions comprising Zscaler Cloud Security Posture Management that identifies and remediates application misconfigurations in SaaS, infrastructure as a service, and platform as a service to reduce risk and ensure compliance with industry and organizational benchmarks; and Zscaler Cloud Workload Segmentation, which is designed to secure application-to-application communications inside public clouds and data centers to stop lateral threat movement, as well as prevents application compromise and reduces the risk of data breaches. Its platform modules include Zscaler Central Authority, Zscaler Enforcement Node, and Zscaler Log Servers. It serves customers in airlines and transportation, conglomerates, consumer goods and retail, financial services, healthcare, manufacturing, media and communications, public sector and education, technology, and telecommunications services industries. The company was formerly known as SafeChannel, Inc., and changed its name to Zscaler, Inc. in August 2008. Zscaler, Inc. was incorporated in 2007 and is headquartered in San Jose, California.Show more
  • Revenue$2.67B+23.3%
  • EBITDA-$7M+83.1%
  • Net Income-$41M+28.1%
  • EPS (Diluted)-0.27+30.8%
  • Gross Margin76.87%-1.3%
  • EBITDA Margin-0.27%+86.3%
  • Operating Margin-4.81%+15.9%
  • Net Margin-1.55%+41.7%
  • ROE-2.7%+53.2%

ZS Price & Volume

Zscaler, Inc. (ZS) stock price & volume — 10-year historical chart

Loading chart...

Moderating Growth Amid Persistent GAAP Profitability Challenges

Investment Thesis • Updated 2026Q3

VerdictNeutral
Growth:Decelerating
Profitability:Negative
Financial:Healthy
Cash Flow:Improving
Primary Risk:Stock-Based Compensation Dilution

Key Thesis Takeaways

  • Zscaler maintains a dominant position in cloud-native security, yet its transition to sustained GAAP profitability remains elusive as revenue growth decelerated to 25.4% in 2026Q3.
  • While the company benefits from a robust $2.5 billion deferred revenue backlog, investors should monitor the heavy reliance on $205.2 million in quarterly stock-based compensation and increasing goodwill of $1.1 billion.
  • The firm's long-term outlook depends on balancing aggressive inorganic expansion with the need to achieve operating leverage in an increasingly competitive hyperscale security landscape.

Verdict Logic

while the company maintains a healthy current ratio of 1.86, the lack of GAAP profitability and a forward P/E of 32.11 suggest that the current valuation may already price in significant future execution success.

ZS Growth Metrics

Zscaler, Inc. (ZS) revenue, earnings & EPS growth — 3, 5 & 10-year CAGR

Revenue CAGR

10 Years47.81%
5 Years44.03%
3 Years34.81%
TTM24.61%

Profit CAGR

10 Years-
5 Years-
3 Years-
TTM-99.57%

EPS CAGR

10 Years-
5 Years-
3 Years-
TTM-88.9%

Return on Capital

10 Years-17.91%
5 Years-11.42%
3 Years-7.6%
Last Year-4.6%

ZS Recent Earnings

Zscaler, Inc. (ZS) EPS & revenue vs analyst estimates — last 4 quarters

Full history →
●Beat EPS 12/12 qtrs (100%)●Beat Revenue 11/12 qtrs (92%)
Q2 2026Latest
May 26, 2026
Metric
Actual
Est
EPS
$1.08+6.9%
$1.01
Rev
$850M+1.8%
$835M
Q1 2026
Feb 26, 2026
Metric
Actual
Est
EPS
$1.01+13.0%
$0.89
Rev
$816M+2.2%
$798M
Q4 2025
Nov 25, 2025
Metric
Actual
Est
EPS
$0.96+12.1%
$0.86
Rev
$788M+1.9%
$773M
Q4 2025
Sep 2, 2025
Metric
Actual
Est
EPS
$0.89+11.3%
$0.80
Rev
$719M+1.7%
$707M
QuarterDateEPS (Act vs Est)Revenue (Act vs Est)
Q2 2026LatestMay 26, 2026
$1.08vs $1.01+6.9%
$850Mvs $835M+1.8%
Q1 2026Feb 26, 2026
$1.01vs $0.89+13.0%
$816Mvs $798M+2.2%
Q4 2025Nov 25, 2025
$0.96vs $0.86+12.1%
$788Mvs $773M+1.9%
Q4 2025Sep 2, 2025
$0.89vs $0.80+11.3%
$719Mvs $707M+1.7%
Based on last 12 quarters of dataView full earnings history →

Latest ZS News

Recent stock market news and headlines for Zscaler, Inc. (ZS)

Newsfile Corp·Jun 28, 2026
ZS INVESTOR REMINDER: Faruqi & Faruqi, LLP Investigates Claims on Behalf of Investors of Zscaler

Faruqi & Faruqi, LLP Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Significant Losses In Zscaler To Contact Him Directly To Discuss Their Options If you suffered significant losses in Zscaler stock or options and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). [You may also click here for additional information] New York, New York--(Newsfile Corp. - June 28, 2026) - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Zscaler, Inc. ("Zscaler" or the "Company") (NASDAQ: ZS).

Zacks Investment Research·Jun 25, 2026
Why Is Zscaler (ZS) Up 0.7% Since Last Earnings Report?

Zscaler (ZS) reported earnings 30 days ago. What's next for the stock?

GlobeNewsWire·Jun 25, 2026
Racing Innovation Meets Zero Trust: Aston Martin Aramco Formula One™ Team and Zscaler Redefine Speed and Security

SILVERSTONE, United Kingdom, June 25, 2026 (GLOBE NEWSWIRE) -- Aston Martin Aramco Formula One™ Team today announced a new multi-year partnership with Zscaler™, the cybersecurity platform for the AI era. Aston Martin Aramco will use Zscaler's Zero Trust Exchange™ platform to secure the team's most valuable assets - from car design and race strategy to the real-time data flowing between the track and the UK-based AMRTC.

Peers Comparison

Key metrics vs top competitors for Zscaler, Inc. (ZS)

Full Screener →
CompanyPriceMarket CapP/E RatioRev Growth (1Y)Net MarginROEDiv Yield
ZS logoZSZscaler, Inc.Current
$150.42$24.32B-557.1123.31%-1.55%-2.7%—
CRWD logoCRWDCrowdStrike Holdings, Inc.
$199.38$203.02B-1246.1321.71%-0.48%-0.58%—
PANW logoPANWPalo Alto Networks, Inc.
$357.53$243.66B223.4614.87%7.95%6.3%—
FTNT logoFTNTFortinet, Inc.
$162.35$120.13B66.8114.17%27.49%155.65%—
NET logoNETCloudflare, Inc.
$247.55$87.5B-853.6229.85%-3.72%-6.23%—
S logoSSentinelOne, Inc.
$18.15$6.11B-13.2521.89%-30.38%-21.49%—

Compare ZS vs Peers

Zscaler, Inc. (ZS) vs competitors — business, growth, and fundamentals comparison against the closest industry rivals.

Closest Rival

vs CRWD

Most directly comparable listed peer for ZS.

Scale Benchmark

vs GOOGL

Larger-name benchmark to compare ZS against a more recognizable public peer.

Peer Set

Compare Top 5

vs CRWD, PANW, FTNT, NET

ZS SEC Filings & Documents

Zscaler, Inc. (ZS) SEC filings — annual & quarterly reports (10-K, 10-Q)

8-K Announcements

6
Material company update

May 26, 2026·SEC

Material company update

Apr 16, 2026·SEC

Material company update

Feb 26, 2026·SEC

10-K Annual Reports

3
FY 2025

Sep 11, 2025·SEC

FY 2024

Sep 12, 2024·SEC

FY 2023

Sep 14, 2023·SEC

10-Q Quarterly Reports

6
FY 2026

May 26, 2026·SEC

FY 2026

Feb 26, 2026·SEC

FY 2025

Nov 25, 2025·SEC

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ZS Frequently Asked Questions

Zscaler, Inc. (ZS) stock FAQ — growth, dividends, profitability & financials explained

Growth & Financials
What is Zscaler, Inc.'s revenue?

Zscaler, Inc. (ZS) reported $3.17B in revenue for fiscal year 2025. This represents a 5809% increase from $53.7M in 2015.

How fast is Zscaler, Inc. growing?

Zscaler, Inc. (ZS) grew revenue by 23.3% over the past year. This is strong growth.

Is ZS profitable?

Zscaler, Inc. (ZS) reported a net loss of $77.4M for fiscal year 2025.

Dividend & Returns
What is ZS's return on equity?

Zscaler, Inc. (ZS) has a return on equity (ROE) of -2.7%. Negative ROE indicates the company is unprofitable.

What is Zscaler, Inc.'s free cash flow?

Zscaler, Inc. (ZS) generated $1.02B in free cash flow for fiscal year 2025. Positive FCF indicates the company can fund dividends, buybacks, or reinvestment.

What if you invested $1,000 in ZS back in 2015?

Total return calculator · dividends reinvested · 11+ years of data

See returns →