ZS
Zscaler, Inc.
Next earnings Aug 31, 2026 (after close) · consensus $1.12 EPS, $904M rev
Last earnings +1.2% on 2026-05-26
$132.26
▲ +6.83%$132.26▼ -57.40%
over 1Y
L $118.05EODHDH $336.27
Earnings Dividend Split Congress buy Congress sellGrouped by date · hover a pin to expand
Today+6.8%
1W+6.6%
1M+4.6%
3M-0.7%
YTD-40.0%
1Y-57.4%
Buy
Conviction
Horizon
Long (>12mo)
12-mo target
$•••
Street · 58 analysts
Buy
Zero-trust leader compounding 23% revenue with 77% gross margins and now strongly cash-generative; GAAP losses are narrowing fast.
Revenue $2.67B · FY2025
Zscaler is a high-quality, category-leading SaaS franchise that the GAAP headline numbers understate. FY2025 revenue grew 23.3% to $2.67B with a 76.9% gross margin, continuing a multi-year ramp from $673M in FY2021. The business serves over 9,400 customers in 185+ countries on a subscription, per-user model recognized ratably, which gives durable, recurring revenue. While the company still reports a net loss (-$41.5M) and slightly negative operating income (-$128M), the loss has shrunk dramatically from -$262M (FY2021) and -$202M (FY2023), and operating cash flow is robustly positive at $972M (+24.7% YoY) on just $164M of capex.
Financials · annual, by fiscal year
| Line item | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Revenue | $673M | $1.09B | $1.62B | $2.17B | $2.67B |
| Gross profit | $523M | $849M | $1.25B | $1.69B | $2.05B |
| Operating income | -$208M | -$327M | -$235M | -$121M | -$128M |
| Net income | -$262M | -$390M | -$202M | -$57.7M | -$41.5M |
| Diluted EPS | -$1.93 | -$2.77 | -$1.40 | -$0.39 | -$0.27 |
| Net margin | -38.9% | -35.8% | -12.5% | -2.7% | -1.6% |
Annual figures from SEC 10-K XBRL filings. Open the filing links below for full statement detail.
Key statistics
Valuation
Enterprise value$19.7B
EV / EBITDA—
EV / Sales7.4
EV / FCF24.4
P / FCF25.9
PEG (trailing)—
Earnings yield-0.2%
FCF yield3.9%
Quality & risk
ROIC (est.)-3.4%
Free cash flow$808M
Total debt$1.14B
Net cash$1.25B
Altman Z-Score3.27 safe
Piotroski F-Score5/9
Capital returns
Buyback yield0.0%
Dividend yield (est.)—
Shareholder yield0.0%
Shares Δ YoY+3.8%
Computed from SEC XBRL annual figures + the current quote. EV and ROIC use long-term + current debt where filed; estimates, not investment advice.
Disclosure timeline
SEC · 8-Ks + reportsSome governance/structural items recently, but no outright red flags.
Recent filings
all on EDGAR ↗4Period ending 2026-06-252026-06-26open ↗144Filing2026-06-25open ↗4Period ending 2026-06-222026-06-23open ↗144Filing2026-06-22open ↗4Period ending 2026-06-162026-06-17open ↗4Period ending 2026-06-162026-06-17open ↗4Period ending 2026-06-162026-06-17open ↗4Period ending 2026-06-162026-06-17open ↗4Period ending 2026-06-162026-06-17open ↗4Period ending 2026-06-172026-06-17open ↗144Filing2026-06-17open ↗144Filing2026-06-16open ↗
Frequently asked
- Is Zscaler, Inc. (ZS) a buy?
- ZS currently carries a Buy rating with 4/5 conviction, derived from its latest SEC filings. Zero-trust leader compounding 23% revenue with 77% gross margins and now strongly cash-generative; GAAP losses are narrowing fast.
- What is Zscaler, Inc.'s quality score?
- ZS scores 51.549019607843135/100 (grade C-) on a SEC-grounded quality model spanning value, growth, profitability, financial health and momentum.
Sources: SEC EDGAR (CIK 0001713683, latest 10-Q filed 2026-05-26) · EODHD · analysis by claude-code · as of 6/21/2026, 8:41:59 PM.
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