Zscaler, Inc. (ZS)

Zscaler Financials Overview

Financials in millions USD. Fiscal year is August - July.

Revenue & Profits

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul 31, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Revenue Revenue Growth	3,353	3,353	2,673	2,168	1,617	1,091
Revenue Growth	25.42%	25.42%	23.31%	34.06%	48.22%	62.08%
Gross Profit Gross Profit Growth	2,577	2,577	2,058	1,693	1,255	850.11
Operating Income Operating Income Growth	-118.01	-118.01	-122.22	-121.48	-228.06	-327.43
Net Income Net Income Growth	-63.18	-63.18	-41.48	-57.71	-202.34	-390.28
Earnings Per Share EPS Growth	-0.39	-0.39	-0.27	-0.39	-1.40	-2.77
EPS Growth	-	-	-	-	-	-

Revenue by Segment

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul 31, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Channel Partners Channel Partners Growth	2,835	2,835	2,360	1,968	1,488	1,017
Direct Customers Direct Customers Growth	517.27	517.27	312.89	199.86	128.57	74.2
Revenue (Total) Revenue (Total) Growth	3,353	3,353	2,673	2,168	1,617	1,091

Cash & Debt

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul 31, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Cash & Investments Cash & Investments Growth	3,474	3,474	3,572	2,410	2,100	1,731
Total Debt Total Debt Growth	1,868	1,868	1,797	1,242	1,219	1,046
Net Cash (Debt) Net Cash Growth	1,606	1,606	1,776	1,168	881.66	685.62
Net Cash Growth	-9.55%	-9.55%	52.06%	32.46%	28.59%	27.45%
Net Cash Per Share Net Cash Per Share Growth	10.02	10.02	11.50	7.81	6.08	4.87

Cash Flow & CapEx

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul 31, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Operating Cash Flow Operating Cash Flow Growth	1,130	1,130	972.45	779.85	462.34	321.91
Capital Expenditures CapEx Growth	-277.3	-277.3	-164.25	-144.59	-97.2	-69.3
Free Cash Flow Free Cash Flow Growth	852.35	852.35	808.2	635.26	365.15	252.62
Free Cash Flow Growth	5.46%	5.46%	27.22%	73.97%	44.55%	64.17%

Margins

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Fiscal Year	TTM	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Jul 31, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Gross Margin	76.87%	76.87%	76.99%	78.08%	77.63%	77.92%
Operating Margin	-3.52%	-3.52%	-4.57%	-5.60%	-14.10%	-30.01%
Pretax Margin	-0.51%	-0.51%	-0.68%	-1.35%	-11.29%	-35.16%
Profit Margin	-1.88%	-1.88%	-1.55%	-2.66%	-12.51%	-35.77%
FCF Margin	25.42%	25.42%	30.23%	29.30%	22.58%	23.16%

Valuation

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Fiscal Year	Current	FY 2026	FY 2025	FY 2024	FY 2023	FY 2022
Period Ending	Nov 5, 2026	Jul 31, 2026	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022
Forward PE	45.73	34.07	82.54	58.41	79.69	167.47
P/FCF Ratio	42.94	28.69	55.01	42.67	64.08	87.08
PS Ratio	10.92	7.29	16.63	12.51	14.47	20.16

Data Sources: S&P Global Market Intelligence and Fiscal.ai Last updated: Sep 3, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every three months for this company. Revenue segment data is provided by Fiscal.ai.

Update frequency:

Quarterly

Last checked:

Nov 4, 2026

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