ZS Chart
About

Zscaler, Inc. operates as a cloud security company worldwide. The company offers cyberthreat protection products, including Zscaler Internet Access, which provides threat protection, cloud sandbox, and cloud browser isolation; Zscaler Private Access solution that includes cyberthreat and data protection, application discovery, secure application access, application segmentation, application protection, reduced attack surface, and browser isolation; Zero Trust Firewall; Cloud Sandbox; and Zero Trust Browser. It also provides data security products, such as web and email DLP, endpoint DLP, BYOD security, multi-mode CASB, unified SaaS security, DSPM, AI-SPM, public gen AI security, and Microsoft Copilot data protection; Zero Trust Cloud solution. In addition, the company offers Zero Trust Branch comprising Zero Trust SD-WAN; IoT/OT segmentation; privileged remote access; Zscaler Cellular; and 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. Further, it provides security operations products, including data fabric for security; asset exposure management; Risk360; unified vulnerability management; deception; managed detection and response; and managed threat hunting. Additionally, the company offers Zero Trust Gateway, a fully managed Zscaler service. It serves the automotive, airlines and transportation, conglomerates, consumer goods and retail, energy, financial services, healthcare, insurance, 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.

Fundamentals
Scroll to Statements
Sector Technology Industry Software - Infrastructur Market Cap 23.82B
Enterprise Value 22.33B Income -41.04M Sales 2.83B
Book/sh 12.43 Cash/sh 20.83 Dividend Yield —
Payout 0.00% Employees 7923 IPO —
P/E — Forward P/E 33.28 PEG —
P/S 8.41 P/B 12.02 P/C —
EV/EBITDA -329.87 EV/Sales 7.88 Quick Ratio 1.68
Current Ratio 1.82 Debt/Eq 92.65 LT Debt/Eq —
EPS (ttm) -0.25 EPS next Y 4.49 EPS Growth —
Revenue Growth 25.50% Earnings 2026-02-26 ROA -1.36%
ROE -2.41% ROIC — Gross Margin 76.77%
Oper. Margin -3.88% Profit Margin -1.45% Shs Outstand 159.47M
Shs Float 102.91M Short Float 7.46% Short Ratio 4.50
Short Interest — 52W High 336.99 52W Low 142.00
Beta 1.02 Avg Volume 2.19M Volume 4.68M
Target Price $290.27 Recom Buy Prev Close $143.28
Price $149.36 Change 4.24%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$290.27
Mean price target
2. Current target
$149.36
Latest analyst target
3. DCF / Fair value
$107.96
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$149.36
Low
$209.00
High
$390.00
Mean
$290.27

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2026-02-24 main TD Cowen Buy → Buy $260
2026-02-24 main Rosenblatt Buy → Buy $280
2026-02-24 main Cantor Fitzgerald Overweight → Overweight $300
2026-02-24 main BTIG Buy → Buy $209
2026-02-23 main Baird Outperform → Outperform $300
2026-02-23 main Stephens & Co. Overweight → Overweight $225
2026-02-20 main JP Morgan Overweight → Overweight $267
2026-02-17 main Truist Securities Buy → Buy $250
2026-02-17 main Mizuho Outperform → Outperform $265
2026-02-17 main Keybanc Overweight → Overweight $250
2026-01-13 main Citigroup Buy → Buy $305
2026-01-12 main Keybanc Overweight → Overweight $300
2026-01-05 main Piper Sandler Neutral → Neutral $260
2026-01-05 main RBC Capital Outperform → Outperform $290
2025-12-16 up Mizuho Neutral → Outperform $310
2025-12-01 main Citigroup Buy → Buy $350
2025-12-01 down Bernstein Outperform → Market Perform $264
2025-11-26 main Mizuho Neutral → Neutral $310
2025-11-26 main Baird Outperform → Outperform $360
2025-11-26 main JP Morgan Overweight → Overweight $354
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 1076 — — Stock Award(Grant) at price 0.00 per share. BROWN ANDREW WILLIAM FRASER Director — 2026-01-12 00:00:00 D
1 1076 — — Stock Award(Grant) at price 0.00 per share. GIANCARLO CHARLES H Director — 2026-01-12 00:00:00 D
2 1076 — — Stock Award(Grant) at price 0.00 per share. DARLING SCOTT C Director — 2026-01-12 00:00:00 D
3 1076 — — Stock Award(Grant) at price 0.00 per share. BLASING KAREN LOUISE Director — 2026-01-12 00:00:00 D
4 1076 — — Stock Award(Grant) at price 0.00 per share. BEER JAMES ALEXANDER Director — 2026-01-12 00:00:00 D
5 1076 — — Stock Award(Grant) at price 0.00 per share. NAUGHTON EILEEN Director — 2026-01-12 00:00:00 D
6 1076 — — Stock Award(Grant) at price 0.00 per share. SCHNEIDER DAVID L. Director — 2026-01-12 00:00:00 D
7 653 148048 — Sale at price 226.72 per share. BEER JAMES ALEXANDER Director — 2026-01-02 00:00:00 D
8 5000 1152600 — Sale at price 230.52 per share. BROWN ANDREW WILLIAM FRASER Director — 2025-12-26 00:00:00 D
9 5433 1258670 — Sale at price 230.82 - 232.79 per share. SCHLOSSMAN ROBERT S Officer — 2025-12-17 00:00:00 D
Financials
Line Item2025-07-312024-07-312023-07-312022-07-31
TaxEffectOfUnusualItems-276.36K0.000.000.00
TaxRateForCalcs0.210.210.210.21
NormalizedEBITDA109.44M64.83M-109.21M-277.58M
TotalUnusualItems-1.32M0.00-7.60M0.00
TotalUnusualItemsExcludingGoodwill-1.32M0.00-7.60M0.00
NetIncomeFromContinuingOperationNetMinorityInterest-41.48M-57.71M-202.34M-390.28M
ReconciledDepreciation121.18M80.93M66.82M49.47M
ReconciledCostOfRevenue498.70M397.43M296.79M242.28M
EBITDA108.12M64.83M-109.21M-277.58M
EBIT-13.06M-16.10M-176.02M-327.05M
NetInterestIncome115.84M96.00M53.92M-51.99M
InterestExpense5.23M13.13M6.54M56.58M
InterestIncome125.36M109.13M60.46M4.59M
NormalizedIncome-40.44M-57.71M-202.34M-390.28M
NetIncomeFromContinuingAndDiscontinuedOperation-41.48M-57.71M-202.34M-390.28M
TotalExpenses2.80B2.29B1.85B1.42B
TotalOperatingIncomeAsReported-128.46M-121.48M-234.62M-327.43M
DilutedAverageShares154.40M149.59M144.94M140.90M
BasicAverageShares154.40M149.59M144.94M140.90M
DilutedEPS-0.27-0.39-1.40-2.77
BasicEPS-0.27-0.39-1.40-2.77
DilutedNIAvailtoComStockholders-41.48M-57.71M-202.34M-390.28M
NetIncomeCommonStockholders-41.48M-57.71M-202.34M-390.28M
NetIncome-41.48M-57.71M-202.34M-390.28M
NetIncomeIncludingNoncontrollingInterests-41.48M-57.71M-202.34M-390.28M
NetIncomeContinuousOperations-41.48M-57.71M-202.34M-390.28M
TaxProvision23.19M28.48M19.77M6.65M
PretaxIncome-18.29M-29.23M-182.56M-383.63M
OtherIncomeExpense-6.99M-3.75M-1.86M-4.21M
OtherNonOperatingIncomeExpenses-5.67M-3.75M-1.86M-4.21M
SpecialIncomeCharges-1.32M0.00-7.60M0.00
WriteOff0.000.00416.00K
RestructuringAndMergernAcquisition1.32M0.007.60M0.00
NetNonOperatingInterestIncomeExpense115.84M96.00M53.92M-51.99M
TotalOtherFinanceCost4.29M2.78M2.62M
InterestExpenseNonOperating5.23M13.13M6.54M56.58M
InterestIncomeNonOperating125.36M109.13M60.46M4.59M
OperatingIncome-127.14M-121.48M-234.62M-327.43M
OperatingExpense2.18B1.81B1.49B1.18B
DepreciationAmortizationDepletionIncomeStatement1.70M1.23M773.00K704.00K
DepreciationAndAmortizationInIncomeStatement1.70M1.23M773.00K704.00K
Amortization1.70M1.23M773.00K704.00K
AmortizationOfIntangiblesIncomeStatement1.70M1.23M773.00K704.00K
ResearchAndDevelopment672.49M499.83M350.79M289.14M
SellingGeneralAndAdministration1.51B1.31B1.14B886.95M
SellingAndMarketingExpense1.26B1.10B958.33M735.22M
GeneralAndAdministrativeExpense250.44M212.05M178.85M151.74M
OtherGandA250.44M212.05M178.85M151.74M
SalariesAndWages295.33M281.31M190.05M
GrossProfit2.05B1.69B1.25B848.66M
CostOfRevenue618.18M477.13M362.83M242.28M
TotalRevenue2.67B2.17B1.62B1.09B
OperatingRevenue2.67B2.17B1.62B1.09B
Line Item2025-07-312024-07-312023-07-312022-07-31
OrdinarySharesNumber158.30M152.49M147.17M143.04M
ShareIssued158.30M152.49M147.17M143.04M
NetDebt637.64M
TotalDebt1.80B1.24B1.21B1.05B
TangibleBookValue1.33B793.24M610.06M462.93M
InvestedCapital3.50B2.42B1.86B1.54B
WorkingCapital2.46B283.73M1.35B1.12B
NetTangibleAssets1.33B793.24M610.06M462.93M
CapitalLeaseObligations95.85M95.69M76.39M77.05M
CommonStockEquity1.80B1.27B725.11M573.30M
TotalCapitalization3.50B1.27B1.86B1.54B
TotalEquityGrossMinorityInterest1.80B1.27B725.11M573.30M
StockholdersEquity1.80B1.27B725.11M573.30M
GainsLossesNotAffectingRetainedEarnings8.08M-4.79M-1.58M-25.85M
OtherEquityAdjustments8.08M-4.79M-1.58M-25.85M
RetainedEarnings-1.19B-1.15B-1.09B-991.88M
AdditionalPaidInCapital2.98B2.43B1.82B1.59B
CapitalStock159.00K152.00K147.00K143.00K
CommonStock159.00K152.00K147.00K143.00K
PreferredStock0.000.000.000.00
TotalLiabilitiesNetMinorityInterest4.62B3.43B2.88B2.26B
TotalNonCurrentLiabilitiesNetMinorityInterest2.19B317.98M1.35B1.12B
OtherNonCurrentLiabilities33.32M22.10M12.73M7.92M
NonCurrentDeferredLiabilities413.61M251.06M158.53M97.37M
NonCurrentDeferredRevenue413.61M251.06M158.53M97.37M
LongTermDebtAndCapitalLeaseObligation1.74B44.82M1.18B1.02B
LongTermCapitalLeaseObligation43.35M44.82M41.92M50.95M
LongTermDebt1.70B1.13B968.67M913.54M
CurrentLiabilities2.43B3.11B1.54B1.13B
CurrentDeferredLiabilities2.05B1.64B1.28B923.75M
CurrentDeferredRevenue2.05B1.64B1.28B923.75M
CurrentDebtAndCapitalLeaseObligation52.50M1.19B34.47M26.10M
CurrentCapitalLeaseObligation52.50M50.87M34.47M26.10M
CurrentDebt1.14B
OtherCurrentBorrowings1.14B
PensionandOtherPostRetirementBenefitPlansCurrent61.01M62.26M44.78M111.95M
PayablesAndAccruedExpenses261.69M213.57M175.48M72.65M
CurrentAccruedExpenses214.78M190.26M157.00M46.50M
Payables46.91M23.31M18.48M26.15M
AccountsPayable46.91M23.31M18.48M26.15M
TotalAssets6.42B4.70B3.61B2.83B
TotalNonCurrentAssets1.53B1.31B718.00M576.02M
OtherNonCurrentAssets98.67M58.08M30.52M21.87M
NonCurrentDeferredAssets328.72M296.52M259.41M210.79M
GoodwillAndOtherIntangibleAssets465.05M480.86M115.05M110.37M
OtherIntangibleAssets47.32M63.84M25.86M31.82M
Goodwill417.73M417.03M89.19M78.55M
NetPPE633.15M472.88M313.03M232.99M
AccumulatedDepreciation-371.78M-250.31M-176.42M-119.12M
GrossPPE1.00B723.19M489.45M352.11M
Leases10.14M7.97M7.61M7.34M
OtherProperties661.08M508.53M351.52M263.39M
MachineryFurnitureEquipment333.70M206.68M130.32M81.37M
Properties0.000.000.000.00
CurrentAssets4.89B3.40B2.89B2.26B
OtherCurrentAssets148.88M101.56M91.62M39.35M
CurrentDeferredAssets180.82M148.87M115.83M86.21M
PrepaidAssets39.35M31.27M
Receivables992.18M736.53M582.64M399.75M
AccountsReceivable992.18M736.53M582.64M399.75M
CashCashEquivalentsAndShortTermInvestments3.57B2.41B2.10B1.73B
OtherShortTermInvestments1.18B986.57M838.03M718.13M
CashAndCashEquivalents2.39B1.42B1.26B1.01B
Line Item2025-07-312024-07-312023-07-312022-07-31
FreeCashFlow726.69M584.95M333.62M231.33M
RepurchaseOfCapitalStock0.00
RepaymentOfDebt-1.15B0.000.00
IssuanceOfDebt1.73B0.000.000.00
CapitalExpenditure-245.76M-194.90M-128.72M-90.58M
InterestPaidSupplementalData1.44M1.44M1.44M1.46M
IncomeTaxPaidSupplementalData23.12M14.94M5.61M4.14M
EndCashPosition2.39B1.42B1.26B1.01B
BeginningCashPosition1.42B1.26B1.01B275.90M
ChangesInCash965.94M160.87M249.00M737.31M
FinancingCashFlow420.51M64.21M45.99M41.34M
CashFlowFromContinuingFinancingActivities420.51M64.21M45.99M41.34M
NetOtherFinancingCharges-221.59M-39.00K-217.00K-255.00K
ProceedsFromStockOptionExercised67.14M64.25M46.21M41.59M
NetCommonStockIssuance0.00
CommonStockPayments0.00
NetIssuancePaymentsOfDebt574.96M0.000.000.00
NetShortTermDebtIssuance-1.15B0.000.00
ShortTermDebtPayments-1.15B0.000.00
NetLongTermDebtIssuance1.73B0.000.000.00
LongTermDebtIssuance1.73B0.000.000.00
InvestingCashFlow-427.02M-683.18M-259.34M374.06M
CashFlowFromContinuingInvestingActivities-427.02M-683.18M-259.34M374.06M
NetInvestmentPurchaseAndSale-180.43M-113.58M-114.97M489.93M
SaleOfInvestment1.10B1.18B952.38M1.33B
PurchaseOfInvestment-1.28B-1.29B-1.07B-844.94M
NetBusinessPurchaseAndSale-834.00K-374.70M-15.64M-25.29M
PurchaseOfBusiness-834.00K-374.70M-15.64M-25.29M
NetIntangiblesPurchaseAndSale0.00
PurchaseOfIntangibles0.00
NetPPEPurchaseAndSale-164.25M-144.59M-97.20M-69.30M
PurchaseOfPPE-164.25M-144.59M-97.20M-69.30M
CapitalExpenditureReported-81.51M-50.31M-31.53M-21.28M
OperatingCashFlow972.45M779.85M462.34M321.91M
CashFlowFromContinuingOperatingActivities972.45M779.85M462.34M321.91M
ChangeInWorkingCapital26.72M66.07M28.57M97.45M
ChangeInOtherWorkingCapital342.60M250.01M241.61M232.68M
ChangeInOtherCurrentLiabilities-62.01M-49.24M-32.20M-27.66M
ChangeInPayablesAndAccruedExpense43.71M58.23M42.94M46.06M
ChangeInAccruedExpense26.18M54.06M51.35M31.70M
ChangeInPayable17.53M4.16M-8.42M14.36M
ChangeInAccountPayable17.53M4.16M-8.42M14.36M
ChangeInPrepaidAssets-41.57M-39.97M-39.92M-10.29M
ChangeInReceivables-256.01M-152.96M-183.86M-143.34M
ChangesInAccountReceivables-256.01M-152.96M-183.86M-143.34M
OtherNonCashItems234.59M186.82M134.00M148.19M
StockBasedCompensation661.35M527.68M444.83M409.56M
AssetImpairmentCharge0.000.00416.00K
AmortizationOfSecurities-15.92M-19.06M-6.58M6.58M
DeferredTax-14.35M-5.63M352.00K-562.00K
DeferredIncomeTax-14.35M-5.63M352.00K-562.00K
DepreciationAmortizationDepletion121.18M80.93M66.82M49.47M
DepreciationAndAmortization121.18M80.93M66.82M49.47M
AmortizationCashFlow16.82M14.62M11.06M9.01M
AmortizationOfIntangibles16.82M14.62M11.06M9.01M
Depreciation104.36M66.31M55.76M40.46M
OperatingGainsLosses369.00K753.00K-3.32M1.50M
GainLossOnInvestmentSecurities369.00K753.00K-3.32M1.50M
NetIncomeFromContinuingOperations-41.48M-57.71M-202.34M-390.28M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for ZS
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