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Zscaler Inc (ZS) fair value: what the stock is really worth

As of Nov 4, 2026: fair value (intrinsic value) of Zscaler Inc stock $101, price $224, that is 54.8% below the price, quality 47 out of 100. Rating: strongly overvalued. Calculated from audited financials with 10 of our 26 valuation models and 37 quality factors, updated daily.

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Technology US

ZI Zscaler Inc logo Thin data Nov 3, 2026

Zscaler Inc

ZS · US
Very expensive, weak quality

Our calculation puts a fair price 55% below what the stock costs today.

Generates free cash flow
Revenue last quarter +25% vs. a year ago.
Quality 47/100
Mixed Growth (revenue 5y +37.9 %/yr in USD)
Moderate debt
Neutral coverage
Insiders sold $14.9M (6M)
Fair value $101.45 · Strongly overvalued (−54.8%)
Loss-making · -1.9% net margin (TTM)
Trails peers (1/12)
Narrow moat 22/100 · thin data
Thin data

Risks from the AI analysis

🚩Sector weakness after peers cut service revenue forecasts🚩Cheaper rivals like Cloudflare or Fortinet🚩Netskope or Palo Alto Prisma as close peers
Watch Zscaler Inc for free: we tell you when fair value or trend changes. Watch for free

What runs behind every stock

26 valuation models 8 families, DCF to NCAV 37 quality factors margins, balance sheet, cashflow, debt 6 AI factors moat, what no ratio measures 2,000+ data points verified, per stock, median

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

$368.78 $87.00 Fair Value $101.45 Aug 2021 Nov 2026

White line = price, green steps = our fair value per fiscal year. As of Nov 3, 2026.

How to read this chart

60‑month range $87.00 – $368.78 · fair‑value band $57.93 – $188.98 · the $224.44 price screens above the $101.45 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 3, 2026.

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Company profile

Zscaler, Inc. operates as a cloud security company worldwide.

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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.

Stock analysis

Zscaler Inc (ZS) currently trades at $224.44, while our model-based Fair Value estimate is $101.45, 55% below the price, so the stock looks overvalued today.

Show more

Valuation

Bull case: the Growth DCF group reads highest at a median of $116.77 per share, and 0 of the 10 models we run sit above the $224.44 price.

Bear case: the DCF Models group reads lowest at $101.45, and 10 of the 10 models stay below the price. Data coverage for this calculation is low.

Scenario range: $57.93 (bear) to $188.98 (bull), the price of $224.44 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.

Quality & growth

The Quality Score stands at 47/100 (below-average quality), in the Technology sector.

Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.

Zscaler Inc reported revenue of $3.4B in FY2026 versus $1.1B in FY2022, a compound +32.4%/yr. Reported net income was −$63.2M in FY2026.

Key figures

Market cap $36.0B Large · P/S ratio 10.4 · EPS (TTM) $−0.3900 · Net margin −1.9% · Return on equity −2.9% · Return on assets (EBIT) −4.8% · Operating margin −1.0% · Revenue (TTM) $3.4B.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).

What moves the price

The share trades about 32% below its 52-week high and 90% above its 52-week low, currently above its 200-day average.

For context, the median of 10 Technology peers we cover trades at −12% fair-value upside, at −55%, ZS screens richer than that median.

Fair Value models

Bear $57.93 Fair Value $101.45 Bull $188.98
Price $224.44 · Downside -54.8%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds. Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
5Y EBITDA Exit $23.24 $31.31 $46.62 73
FCF DCF $83.39 $133.40 $292.05 72
Growth DCF $78.13 $158.52 $289.81 72
All 10 models by family
DCF Models
FCF DCF $83.39 $133.40 $292.05 72
5Y Revenue Exit $57.93 $101.45 $192.35 67
5Y EBITDA Exit $23.24 $31.31 $46.62 73
10Y Revenue Exit $64.34 $141.54 $188.98 64
10Y EBITDA Exit $41.27 $67.13 $102.42 65
Multiples
EV/EBITDA n/a $0.8000 $2.42 62
EV/Revenue $41.88 $62.27 $82.65 53
Asset-Based
NCAV (Graham) $3.57 $4.79 $7.15 54
Growth DCF
Growth DCF $78.13 $158.52 $289.81 72
Rev-Margin DCF $64.32 $116.77 $226.68 66

Open the full fair value analysis →

Quality Score breakdown

Overall quality 47/100

It rates the business: profits, how they develop, real cash, balance sheet, investing and share count.

Profitability 23
How much profit the company makes from its sales and capital
Quality Growth 63
Are margins and returns getting better?
Cashflow 89
Do the profits arrive as real cash?
Financial strength 57
Debt, balance sheet and risk of trouble
Investment 22
Does it invest with discipline instead of growing at any price?
Low Volatility 33
How calm the share price moves, does not count
Price momentum 66
Price momentum of the last 3 to 12 months, does not count
Near the 52-week high 25
Distance to the 52-week high, does not count
New shares 45
Buys back shares or issues new ones?

Open the full quality analysis →

Insider trades

In the last 6 months, 6 officers or directors sold shares worth $14.9M and none bought.

  • SaleAdam GellerChief Product Officer8× since Dec 16, 2025: 48,880 shares, avg. $204.16$10.0MNov 2, 2026
  • SaleKevin RubinChief Financial Officer9× since Dec 16, 2025: 17,667 shares, avg. $178.68$3.2MOct 26, 2026
  • SaleRobert SchlossmanChief Legal Officer6× since Dec 16, 2025: 18,683 shares, avg. $190.34$3.6MSep 21, 2026
  • SaleJames A BeerDirector4× since Jan 2, 2026: 1,184 shares, avg. $195.46$231,422Sep 17, 202610b5-1 plan
  • SaleMichael J. RichCRO and President of WW Sales4× since Dec 16, 2025: 15,539 shares, avg. $177.62$2.8MSep 16, 2026
  • SaleJagtar Singh ChaudhryCEO & Chairman, Director, 10% owner4× since Dec 16, 2025: 10,514 shares, avg. $178.22$1.9MSep 16, 2026
  • SaleRaj JudgeEVP, Corp. Strategy & Ventures, Director2× since Dec 16, 2025: 5,926 shares, avg. $199.65$1.2MMar 17, 2026
  • SaleAndrew William Fraser BrownDirector5,000 shares at ?Dec 26, 2025

Plus 7 other filings such as grants, option exercises or tax withholding. They are not market purchases or sales.

Sales are often planned (taxes, diversification, 10b5-1 plans). Purchases with their own money are seen as the stronger sign. For information only: not part of the quality score or Fair Value.

Source: SEC Form 4, as of Nov 5, 2026. All filings at the SEC ↗

Revenue & earnings trend

Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card. 67/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+25.4%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+27.5%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+37.9%
Start year 2021 (pandemic). Over 10 years: +45.2% a year
Revenue growth 11 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+45.6%
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
−30.8% (2021) → −4.0% (2026)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2026 is a loss year, no rate is defined from a loss
not computed

Growth Forecast

A lot of optimism in the price
The price assumes less growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+21.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+14.4%
Yearly sales growth analysts expect, extended to five years.
After inflation (USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +18.6% a year for the price and +11.8% for the forecasts.
Forecast 2027 (sales)+17.3%
Forecast 2028 (sales)+16.5%
Projected 2029 (sales)+14.7%
Projected 2030 (sales)+12.9%
Projected 2031 (sales)+11.1%

ZS screens overvalued: fair value 55% below the price. Compare with Microsoft Corporation →

Recent news

News mood ⓘNews mood, the average tone of recent news (99 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation. Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
Note from the team Nov 3, 2026
AI conclusion: AI security drives the main growth opportunity via accelerating recurring revenue streams, yet sustained net losses remain the central weakness offsetting tech advantages.
Main risk: Rivals such as Cloudflare One offering lower per-user pricing or Fortinet providing better TCO through hardware-led SASE could win customers or pressure Zscaler to reduce prices and margins on its cloud zero-trust platform.
Bull case: By deepening its AI security platform and zero-trust integrations for agentic workloads Zscaler could widen its differentiation and convert AI-driven demand into higher retention and new logos despite lower-priced alternatives.
Bear case: If lower-cost or hybrid rivals capture more share in cost-sensitive or existing firewall environments Zscaler could face slower ARR growth and sustained margin pressure on its core subscription offerings.
Zscaler highlights AI security as its largest growth opportunity ever, with newer recurring revenue streams already accelerating. Recent sector weakness after peers cut service revenue forecasts shows how quickly enterprise spending sentiment can shift even without company-specific issues. Our models see it as overvalued. Will the AI-driven demand outpace the slower overall growth trajectory management has outlined?
Join the discussion →

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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Software - Infrastructure · 342 stocks

Beats the industry median on 1/11 measures
Overall it trails its industry peers.
Valuation
Quality Score 47 · Below median
Fair Value upside −54.8% · Bottom 25%
Profitability
Return on assets −0.8% · Below median
Net margin (12 months) −1.9% · Below median
Operating margin (12 months) −1.0% · Below median
Growth and dividend
Revenue growth (quarter YoY) 24.9% · Above median
Balance sheet
Debt / equity 0.65× · Highest 25%

Valuation Multiplesvs Software - Infrastructure median · lower = cheaper

P/B 13.84× · Priciest 25%
P/S (12 months) 10.73× · Priciest 25%
Price / free cash flow 42.2× · Priciest 25%
PEG 2.20× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 23
FUTURE (revenue growth)100 · sector 60
PAST (return on equity)0 · sector 23
HEALTH (low debt)67 · sector 98
DIVIDEND (yield)0 · sector 29

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate.

Stock Price Fair Value vs Fair Value Compare
Microsoft Corporation MSFT $555.80 $611.38 +10% vs ZS
Fortinet, Inc FTNT $129.39 $138.83 +7% vs ZS
CoreWeave, Inc CRWV $48.42 $49.57 +2% vs ZS
Oracle Corporation ORCL $123.73 $111.97 −10% vs ZS
Block, Inc XYZ $87.63 $76.95 −12% vs ZS
NetApp, Inc NTAP $187.67 $156.80 −16% vs ZS
Synopsys, Inc SNPS $462.95 $288.23 −38% vs ZS
Palantir Technologies Inc PLTR $171.70 $42.30 −75% vs ZS
CrowdStrike Holdings CRWD $241.00 $37.97 −84% vs ZS
Palo Alto Networks, Inc PANW $348.04 $39.54 −89% vs ZS

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Zscaler Inc: fair value per Fair Value Calculator

Cite: Fair Value Calculator (2026). "Zscaler Inc Fair Value". https://www.fairvalue-calculator.com/stock/ZS

Frequently asked questions

Is Zscaler Inc (ZS) overvalued or undervalued?
As of Nov 3, 2026, our model estimates a fair value of $101.45 versus a price of $224.44, about 55% lower (overvalued).
What is the fair value of ZS?
Our model-based fair value for Zscaler Inc is $101.45 (as of Nov 3, 2026), built from audited fundamentals. The current price: $224.44.
What is the quality score of ZS?
Zscaler Inc has a Quality Score of 47/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Zscaler Inc (ZS)?
Our model-based price target is the fair value of $101.45 (as of Nov 3, 2026) from 10 valuation models. Cautious scenario $57.93, optimistic scenario $188.98. It is a calculation from audited fundamentals, not an analyst target.
What is the Zscaler Inc stock forecast for 2026?
Our models put fair value at $101.45, about 55% lower versus a price of $224.44 (overvalued). Cautious scenario $57.93, optimistic scenario $188.98. The calculation is refreshed regularly with new filings.
What is the revenue of Zscaler Inc (ZS)?
Zscaler Inc reported trailing-twelve-month revenue of about $3.4B (latest available figure, as of Nov 3, 2026).
What growth is priced into Zscaler Inc (ZS)?
For today's price to be fair in a discounted-cash-flow model, Zscaler Inc would have to grow free cash flow by +21.4 % per year for five years (discount rate 9.1 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +37.9 % per year. As of Nov 3, 2026.
What discount rate (WACC) does the fair value of ZS use?
Our models discount Zscaler Inc at 9.1 %: a base by market capitalisation (large), damped by beta 0.94, country premium for USA. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Zscaler Inc that is +21.4 % per year a year over ten years, using the same discount rate (9.1 %) and the same formula as our fair value.
How much growth has Zscaler Inc (ZS) delivered so far?
Over the past 5 years revenue at Zscaler Inc grew +37.9 % a year. The price currently implies +21.4 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Zscaler Inc (ZS) growing?
The median revenue growth in the sector is +11.3 % a year. That is the yardstick for the growth priced into Zscaler Inc (+21.4 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Zscaler Inc (ZS)?
The free-cash-flow yield on the price is 2.37 %: that much free cash flow Zscaler Inc produces per unit of market value. When it exceeds the discount rate of our models (9.1 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Zscaler Inc (ZS)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Zscaler Inc it is $101.45 per share (as of Nov 3, 2026), against a price of $224.44. It is the blended result of 10 valuation models (cash flow, earnings, asset, dividend).
Is Zscaler Inc stock overvalued or undervalued in 2026?
As of Nov 3, 2026, ZS trades above its calculated fair value: price $224.44, fair value $101.45, a gap of about −55% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of ZS?
No. The price is what the market pays today ($224.44); the fair value is what the company's own numbers justify ($101.45). For Zscaler Inc the two are $122.99 per share apart. That gap is exactly why we show both numbers side by side.
How much is Zscaler Inc worth?
The market values Zscaler Inc at about $36.0B (market capitalisation, as of Nov 3, 2026). Per share that is $224.44; our models calculate a fair value of $101.45 per share.
What do the bullish and bearish scenarios say about ZS?
Our models span a range for Zscaler Inc: cautious scenario $57.93, base $101.45, optimistic $188.98 per share (as of Nov 3, 2026, price $224.44). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of ZS?
The PEG ratio of Zscaler Inc is 2.20 (P/E divided by earnings growth, as of Nov 3, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Zscaler Inc (ZS)?
Balance-sheet figures for Zscaler Inc (as of Nov 3, 2026): return on equity −2.9%, debt of 0.65 per unit of equity. They feed the Quality Score of 47/100, which measures business quality independently of the share price.
How far is ZS from its 52-week high?
Zscaler Inc trades at $224.44, about 32% below its 52-week high of $331.29 and 90% above the low of $118.05 (as of Nov 4, 2026). Distance from the high says nothing about value: that is what the fair value of $101.45 is for.
Which stocks are comparable to Zscaler Inc?
From the same area (Technology) we also value Microsoft Corporation, Palantir Technologies Inc, Oracle Corporation, Palo Alto Networks, Inc, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Zscaler Inc stock attractive at the current price?
The data as of Nov 3, 2026: price $224.44, calculated fair value $101.45 (−55%), Quality Score 47/100, from 10 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of ZS calculated?
We run Zscaler Inc through 10 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of $101.45, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. Zscaler Inc itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Zscaler Inc (ZS)?
The closing price on Nov 4, 2026 was $224.44. Our model-based fair value is $101.45, about 55% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Zscaler Inc right now?
The price sits above even our optimistic bull case ($188.98). The favourable scenario is already priced in. Weak quality (47/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide ($57.93 to $188.98). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.

Key figures of Zscaler Inc

How large is the market capitalisation of Zscaler Inc (ZS)?
The market capitalisation of Zscaler Inc is $36.0B. The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Zscaler Inc (ZS)?
The price-to-sales ratio of Zscaler Inc is 10.4 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Zscaler Inc (ZS)?
Earnings per share at Zscaler Inc are $−0.3900. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Zscaler Inc (ZS)?
The net margin of Zscaler Inc is −1.9% (last twelve months). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Zscaler Inc (ZS)?
The return on equity (ROE) of Zscaler Inc is −2.9% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Zscaler Inc (ZS)?
On an EBIT basis the return on assets of Zscaler Inc is −4.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Zscaler Inc (ZS)?
The operating margin of Zscaler Inc is −1.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Zscaler Inc (ZS)?
Revenue at Zscaler Inc is growing +24.9% versus a year earlier (3y avg +27.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much net debt does Zscaler Inc (ZS) carry?
The net debt of Zscaler Inc is $927M (fiscal year 2026, ≈ 1.1 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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