Zscaler, Inc. (ZS)

Zscaler Cash Flow Statement

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

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Oct 31, 2025	Jul 31, 2025	Jul 31, 2024	Jul 31, 2023	Jul 31, 2022	Jul 31, 2021
Net Income	-41.04	-41.48	-57.71	-202.34	-390.28	-262.03
Depreciation & Amortization	54.39	44.46	44.63	42.62	36.47	30.56
Other Amortization	263.09	247.32	170.35	126.81	136.67	98.38
Asset Writedown & Restructuring Costs	-	-	-	-	-	0.42
Loss (Gain) From Sale of Investments	-12.83	-15.92	-19.06	-6.58	6.58	11.72
Stock-Based Compensation	692.77	661.35	527.68	444.83	409.56	258.54
Other Operating Activities	48.84	50	47.89	28.43	25.46	18.9
Change in Accounts Receivable	-85.12	-256.01	-152.96	-183.86	-143.34	-111.61
Change in Accounts Payable	13.55	17.53	4.16	-8.42	14.36	7.45
Change in Unearned Revenue	493.17	573.05	450.31	418.56	391.18	262.43
Change in Other Net Operating Assets	-337.41	-307.86	-235.45	-197.72	-164.75	-112.7
Operating Cash Flow	1,089	972.45	779.85	462.34	321.91	202.04
Operating Cash Flow Growth	28.11%	24.70%	68.67%	43.62%	59.33%	154.72%
Capital Expenditures	-164.54	-164.25	-144.59	-97.2	-69.3	-48.17
Cash Acquisitions	-673.61	-0.83	-374.7	-15.64	-25.29	-40.53
Sale (Purchase) of Intangibles	-76.75	-81.51	-50.31	-31.53	-21.28	-10.13
Investment in Securities	-812.67	-180.43	-113.58	-114.97	489.93	-10.84
Investing Cash Flow	-1,728	-427.02	-683.18	-259.34	374.06	-109.67
Long-Term Debt Issued	-	1,725	-	-	-	-
Total Debt Issued	1,725	1,725	-	-	-	-
Long-Term Debt Repaid	-	-1,150	-	-	-	-
Total Debt Repaid	-1,150	-1,150	-	-	-	-
Net Debt Issued (Repaid)	574.96	574.96	-	-	-	-
Issuance of Common Stock	70.24	67.14	64.25	46.21	41.59	43.93
Other Financing Activities	-222.47	-221.59	-0.04	-0.22	-0.26	-2.25
Financing Cash Flow	422.73	420.51	64.21	45.99	41.34	41.68
Net Cash Flow	-215.45	965.94	160.87	249	737.31	134.05
Free Cash Flow	924.86	808.2	635.26	365.15	252.62	153.88
Free Cash Flow Growth	28.92%	27.22%	73.97%	44.55%	64.17%	324.54%
Free Cash Flow Margin	32.64%	30.23%	29.30%	22.58%	23.16%	22.86%
Free Cash Flow Per Share	5.93	5.23	4.25	2.52	1.79	1.13
Cash Interest Paid	1.44	1.44	1.44	1.44	1.44	1.46
Cash Income Tax Paid	26.33	23.34	23.12	14.94	5.61	4.14
Levered Free Cash Flow	956.49	751.31	687.71	460.75	480.54	324.3
Unlevered Free Cash Flow	956.46	752.97	692	460.95	460.76	305.73
Change in Working Capital	84.18	26.72	66.07	28.57	97.45	45.57

Updated Nov 25, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q