Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers.
It is a $38.2B technology company. Revenue grew 25.4% over the last year, it currently loses money, and it holds more cash than debt.
- Website
- zscaler.com
- Location
- San Jose, CA
- Employees
- 8 700
- Sector
- Technology
- Founded
- 2007
Skills
Six independent scores, 0–100, built from reported numbers and valuation history. Click a row to see how it was scored.
Valuation, Growth, Profitability and Quality lag behind.
Valuation30
- P/E vs own historyn/a · 10/25
- FCF yield2.2% · 5/25
- P/S10.9x · 5/25
- EV/EBITDAn/a · 10/25
Growth25
- Revenue CAGR32.4% · 25/25
- Net income CAGRn/a · 0/25
- EPS CAGR ~5Yn/a · 0/25
- Fwd implied growthn/a · 0/25
Profitability0
- ROIC-6.4% · 0/25
- ROE-2.8% · 0/25
- Net margin-1.9% · 0/25
- Operating margin-4.0% · 0/25
Health68
- Altman Z4.81 · 25/25
- Current ratio1.70 · 18/25
- Interest coverage-6.4x · 0/25
- Net cash / debtNet cash · 25/25
Quality47
- Piotroski F4/9 · 10/25
- Beneish M-2.83 · 25/25
- FCF conversionn/a · 0/25
- Margin stabilityσ 10.1% · 12/25
Moat50
- ROIC >12% years0/5 yrs · 0/25
- Median gross margin77.8% · 25/25
- FCF-positive years9/9 yrs · 25/25
- Worst-year net marginworst -38.9% · 0/25
Experience
The company's career so far — founding, the IPO, landmark products and acquisitions, plus revenue milestones and insider buying.
- 2026AcquisitionThe company announced it the acquisition of browser security company SquareX for an undisclosed…
- May 17, 2025AcquisitionZscaler announced it would acquire Red Canary for an undisclosed amount
- 2024AcquisitionThe company acquired Israel-based data security startup Avalor
- FY2023FinancialBecame debt-freecash now exceeds total debt
- Feb 14, 2023AcquisitionZscaler announced it would acquire Israeli application security company Canonic, a company…
- FY2022FinancialRevenue crossed $1B$1.09B for the year
- 2021AcquisitionThe company purchased cybersecurity startup Trustdome in April 2021
- FY2018FinancialPositive free cash flow every year since9-year streak
- 2018IPOThe company had an initial public offering (IPO) in which it raised $192 million
- 2018AcquisitionZscaler acquired the AI and machine-learning technology of TrustPath in August 2018
- 2008ProductThe company launched its cybersecurity platform in 2008
- 2007FoundedZscaler was founded in 2007 by Jay Chaudhry and K
Achievements
Verifiable track record, straight from the reported numbers.
Strengths & watch-outs
What a bull and a bear would each point to. Both lists come from the reported numbers, not opinions.
Strengths
- High gross margin (76.8%)
- Revenue growing 25.4% year over year
- Strong cash conversion — FCF is 25.4% of revenue
- Net cash position after subtracting debt from cash
- Altman Z-Score 4.81 — low bankruptcy-risk zone
Watch-outs
- Not profitable — 1.9% net margin
- Thin interest coverage (-6.4×)
- Loss-making in 9 of the recent years
Qualifications
The basics a company should meet before you research it further. Each check uses the reported numbers.
- Revenue growing — the company sells more than a year ago+25.4% YoY
- Profitable — makes more than it spends-$63.2M TTM
- Profit growing — earnings are higher than last year-52.3% YoY
- Generates cash — cash left after running and investing$852M TTM
- Debt under control — could handle its obligationsmore cash than debt
- Established company — not a micro-cap — lower blow-up risk$38.2B market cap
- Not printing shares — share count not ballooning — you keep your slice+18.1% shares over ~5y
- Proven track record — years of profitability behind it0/9 profitable years
- Financially stable — balance sheet not near distressAltman Z 4.8 — safe
- Pays a dividend — returns cash to shareholdersno data
- Valuation not extreme — price not wildly above earningsno data
Peer comparisonZscaler, Inc. vs 6 largest technology peers — cap, P/E, growth and margin side by sideOpen ▾Close ▴
| Company | Market cap | P/E | Revenue growth | Net margin | Profile |
|---|---|---|---|---|---|
| ZS this company | $38.2B | — | +25.4% | -1.9% | Solid |
| NVDA Nvidia Corp | $5.5T | 28.6 | +83.4% | 63.7% | Mixed |
| AAPL Apple Inc. | $4.9T | 38.1 | +14.2% | 27.6% | Strong |
| GOOGL Alphabet Inc. | $4.3T | 17.6 | +20.1% | 54.8% | Mixed |
| MSFT Microsoft Corp | $4.0T | 29.7 | +17.8% | 40.3% | Strong |
| SPCX Space Exploration Technologies Corp. | $2.1T | — | +33.2% | -34.0% | Strained |
| META Meta Platforms, Inc. | $1.8T | 26.9 | +27.7% | 29.8% | Mixed |
Head-to-head: ZS vs NVDA · ZS vs AAPL · ZS vs GOOGL
References
What covering analysts publish about the company — information only, not a recommendation.
Appendix · Financial records
The full statements behind this CV, FY2018–FY2026. For readers who want to check the numbers.
Live data and quarterly detail: stockcv.com/ZS
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Deeper analysis of ZS on PreMarketPriceFigures are derived from company filings (quarterly values normalised from as-filed year-to-date data where applicable) and may be delayed, restated or incomplete. This page is information, not investment advice. Latest price $234.01 · market cap $38.2B.