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Zscaler, Inc. ZS NDXAI

Technology · Software - Infrastructure · United States
https://www.zscaler.com

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.

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$139.73
-49.32% 1Y

Market & Price

Market Cap
$22.60B
Current Price
$139.73
High / Low (52W)
$336.27 / $118.05
Beta
0.96

Valuation

Stock P/E
-
Industry PE
32.74
Forward P/E
30.39
PEG Ratio
1.52
Book Value
$14.63
Price to Book
9.55
P/S
7.12
EV/EBITDA
-344.18
Dividend Yield
-

Profitability & Returns

ROCE
-0.33%
ROE
-3.71%
ROA
-1.36%
Profit Margin
-2.44%
Op Margin
-3.28%
EPS (Latest Qtr)
$-0.09
EPS (TTM)
$-0.48

Balance Sheet & Liquidity

Debt/Equity
0.79
Quick Ratio
1.72
Current Ratio
1.86
Debt
$1.87B
Total Assets
$6.42B
Current Assets
$4.89B
Working Capital
$2.46B

Ownership

Promoter Holding
34.97%
Chg in Prom Hold
-
FII / Inst Holding
57.86%
Chg in FII Hold
0.01%

Financial Snapshot

Enterprise Value
$20.92B
Total Revenue (TTM)
$3.17B
EBITDA
$-60.80M
Free Cash Flow
$1.11B
Operating Cash Flow
$1.10B
Shares Outstanding
161.71M
Gross Margin
76.74%
Payout Ratio
0.00%

Growth (CAGR)

Revenue 5Y
34.81%
Profit 5Y
29.79%
Revenue (YoY)
25.40%
Earnings (YoY)
-

PROS

  • Compounding revenue at 34.8% over 5 years.
  • Profit CAGR of 29.8% over 5 years.
  • Generates positive free cash flow.

CONS

  • Trading 58.5% below its 52-week high.
  • In a downtrend (50-DMA below 200-DMA).

* The pros and cons are auto-generated from financial metrics.

Price Chart

Robinhood TradingView StockAnalysis

Fundamental Growth

Figures from the latest reported periods. CAGR is computed across the displayed window (quarterly CAGR is annualised assuming 4 quarters per year).

Peer comparison

Peer companies in the same sector (Technology).

#NameCMP $P/E Mkt CapDiv Yld % ROCE %ROE % Rev CAGR 5Y %Profit CAGR 5Y %
1 ZS Zscaler, Inc. NDXAI 139.73 - $22.60B - -0.33% -3.71% 34.81% 29.79%
2 NVDA NVIDIA Corporation NDXSPXAI 211.14 32.38 $5.11T 0.47% 81.14% 114.29% 100.05% 201.80%
3 AAPL Apple Inc. NDXSPX 312.06 37.73 $4.58T 0.35% 68.72% 141.47% 1.81% 3.92%
4 MSFT Microsoft Corporation NDXSPXAI 450.24 26.82 $3.34T 0.81% 26.37% 34.01% 12.42% 11.87%
5 TSM Taiwan Semiconductor Manufacturing Company Limited AI 418.45 35.86 $2.17T 0.91% 32.04% 36.21% 18.94% 19.57%
6 MU Micron Technology, Inc. NDXSPXAI 971.00 45.87 $1.10T 0.06% 14.20% 39.82% 6.71% -0.57%
7 AMD Advanced Micro Devices, Inc. NDXSPXAI 516.10 172.61 $841.55B - 6.33% 8.06% 13.64% 48.64%
8 ORCL Oracle Corporation SPXAI 225.78 40.46 $649.35B 0.89% 13.07% 57.57% 10.59% 22.81%
9 ASML ASML Holding N.V. NDXAI 1,612.76 53.76 $621.59B 0.54% 43.81% 52.24% 15.55% 19.55%
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Quarterly Results

Figures in USD.

Metric Apr 2017Oct 2017Jan 2018Apr 2018Oct 2018Jan 2019Apr 2019Oct 2019Jan 2020Apr 2020Oct 2020Jan 2021Apr 2021Oct 2021Jan 2022Apr 2022Oct 2022Jan 2023Apr 2023Oct 2023Jan 2024Apr 2024Oct 2024Jan 2025Apr 2025Jul 2025Oct 2025Jan 2026Apr 2026
Revenue 32.96M39.86M44.98M49.16M63.30M74.30M79.13M93.59M101.27M110.52M142.58M157.04M176.40M230.52M255.56M286.81M355.55M387.60M418.80M496.70M525.00M553.20M627.96M-678.03M719.23M788.11M815.75M850.48M
Cost of Revenue ------------------------155.98M172.24M184.75M191.26M192.65M
Gross Profit 25.97M31.59M36.30M39.74M51.20M59.03M64.17M74.03M81.03M85.94M110.85M122.91M137.43M178.35M197.78M222.78M278.85M299.99M322.95M385.31M407.80M434.87M486.49M-522.06M546.99M603.36M624.49M657.82M
Operating Expenses ------------------------547.47M577.91M639.72M676.26M687.46M
Operating Income -7.56M-11.28M-6.40M-9.02M-8.66M-5.18M-13.54M-18.27M-30.28M-20.51M-42.67M-53.90M-43.85M-74.37M-83.93M-86.60M-69.09M-65.24M-55.75M-46.06M-45.46M-3.01M-30.67M--25.41M-30.93M-36.36M-51.77M-29.64M
EBITDA ------------------------38.97M30.22M35.04M26.94M49.79M
Interest Expense ------------------------1.97M-2.22M2.13M2.18M2.70M
Pretax Income ------------------------4.56M-1.90M-8.37M-21.30M-2.37M
Tax Provision ------------------------8.69M15.68M3.24M13.01M11.51M
Net Income -7.56M-11.40M-6.51M-8.77M-7.59M-3.56M-12.24M-17.08M-29.15M-19.34M-55.01M-67.54M-58.46M-90.80M-100.42M-101.41M-68.16M-57.45M-46.05M-33.48M-28.47M19.12M-12.05M--4.12M-17.58M-11.62M-34.31M-13.88M
Diluted EPS -----------0.41-0.50-0.43-0.65-0.71-0.72-0.48-0.40-0.32-0.23-0.190.12-0.08--0.03-0.11-0.07-0.21-0.09
R&D Expense 7.78M8.81M9.18M9.91M13.19M15.07M16.50M20.27M20.71M24.12M35.77M41.75M40.95M65.22M69.19M76.58M74.95M85.77M92.64M113.54M122.18M124.96M154.25M170.86M169.76M-200.50M229.14M-

Profit & Loss (Annual)

Figures in USD.

Metric Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Revenue 80.33M125.72M190.17M302.84M431.27M-1.09B1.62B2.17B2.67B
Cost of Revenue ------242.28M362.83M477.13M618.18M
Gross Profit 60.20M98.25M152.30M243.17M335.54M-848.66M1.25B1.69B2.05B
Operating Expenses ------1.18B1.49B1.81B2.18B
Operating Income -26.84M-35.07M-34.62M-35.31M-113.96M--327.43M-234.62M-121.48M-127.14M
EBITDA -------277.58M-109.21M64.83M108.12M
Interest Expense ------56.58M6.54M13.13M5.23M
Pretax Income -------383.63M-182.56M-29.23M-18.29M
Tax Provision ------6.65M19.77M28.48M23.19M
Net Income -27.44M-35.46M-33.65M-28.66M-115.12M--390.28M-202.34M-57.71M-41.48M
Diluted EPS ----0.23-0.89--2.77-1.40-0.39-0.27
R&D Expense 20.94M33.56M39.38M61.97M97.88M174.65M289.14M350.79M499.83M672.49M

Compounded Sales Growth

5 Years:34.81%
1 Year:25.40%

Compounded Profit Growth

5 Years:29.79%
1 Year:-

Stock Price Performance

1 Year:-49.32%
6 Months:-51.77%
3 Months:-4.94%
1 Month:+3.71%

Balance Sheet (Annual)

Figures in USD.

Metric Jul 2015Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Total Assets --182.90M447.78M604.16M1.83B-2.83B3.61B4.70B6.42B
Current Assets -------2.26B2.89B3.40B4.89B
Cash & Equivalents 83.84M92.84M87.98M135.58M78.48M141.85M-1.01B1.26B1.42B2.39B
Inventory -----------
Receivables -------399.75M582.64M736.53M992.18M
Total Liabilities --133.07M207.54M295.60M1.35B-2.26B2.88B3.43B4.62B
Current Liabilities --120.46M182.83M261.95M423.90M-1.13B1.54B3.11B2.43B
Long Term Debt -----861.62M913.54M968.67M1.13B-1.70B
Total Debt -------1.05B1.21B1.24B1.80B
Total Equity -95.33M-124.74M-151.14M240.24M308.56M484.83M-573.30M725.11M1.27B1.80B
Shares Outstanding -------143.04M147.17M152.49M158.30M

Cash Flows (Annual)

Figures in USD.

Metric Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Operating Cash Flow -11.92M-6.02M17.31M58.03M79.32M-321.91M462.34M779.85M972.45M
Investing Cash Flow -6.65M-8.17M-178.10M-162.07M-1.04B-374.06M-259.34M-683.18M-427.02M
Financing Cash Flow 27.56M9.50M208.40M46.38M1.02B-41.34M45.99M64.21M420.51M
Capital Expenditure -5.40M-7.78M-13.40M-25.52M-43.07M--90.58M-128.72M-194.90M-245.76M
Free Cash Flow -17.32M-13.80M3.91M32.51M36.24M-231.33M333.62M584.95M726.69M
Net Change in Cash ------737.31M249.00M160.87M965.94M
Share Buybacks 003.81M22.00K00----

Ratios (Annual)

Figures in %.

Metric Jul 2016Jul 2017Jul 2018Jul 2019Jul 2020Jul 2021Jul 2022Jul 2023Jul 2024Jul 2025
Gross Margin % 74.9%78.1%80.1%80.3%77.8%-77.8%77.6%78.0%76.9%
Operating Margin % -33.4%-27.9%-18.2%-11.7%-26.4%--30.0%-14.5%-5.6%-4.8%
Net Margin % -34.2%-28.2%-17.7%-9.5%-26.7%--35.8%-12.5%-2.7%-1.6%
ROE % 22.0%23.5%-14.0%-9.3%-23.7%--68.1%-27.9%-4.5%-2.3%
ROCE % --56.2%-13.1%-10.3%-8.1%--19.3%-11.3%-7.6%-3.2%

Shareholding Pattern

Insiders
34.97%
Institutions
57.86%
Public Float
88.97%

Top Institutional Holders

#Holder% HeldSharesValue
1 Blackrock Inc. 5.30% 8.57M $1.20B
2 Vanguard Portfolio Management LLC 3.67% 5.93M $828.69M
3 Vanguard Capital Management LLC 2.88% 4.66M $651.27M
4 First Trust Advisors LP 2.18% 3.52M $491.66M
5 Goldman Sachs Group Inc 1.81% 2.92M $408.70M
6 State Street Corporation 1.47% 2.38M $333.19M
7 American Century Companies Inc 1.47% 2.38M $333.18M
8 FMR, LLC 1.35% 2.19M $306.05M
9 Geode Capital Management, LLC 1.29% 2.09M $291.60M
10 UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 1.22% 1.97M $274.59M

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