YouTube · Q2 FY2027 · 2026-08-30
ZS · NasdaqGS
Zscaler, Inc.
Software - Infrastructure · United States
- Market cap (USD)
- US$32.17B
- Trailing P/E
- —
- Forward P/E
- 35.24x
- Quarterly revenue growth
- 24.9%
- Trailing net margin
- -1.9%
- Indicated dividend yield
- —
Snapshot 2026-09-20 · Latest financial period 2026-07-31 · Yahoo Finance. Quotes may be delayed; reporting periods can differ.
Next earnings: 2026-11-24 (provider estimate, not issuer-confirmed).
Company background
Zscaler, Inc. operates as a cloud security company worldwide. The company offers cyberthreat protection products, including Zero Trust SASE, a solution that securely connects workforces, AI agents, workloads, and IoT/OT devices to cloud apps and AI services; Zscaler Internet Access, which provides advanced threat protection, sandbox, and zero trust firewall; Zscaler Private Access solution that includes cyberthreat and data protection, application discovery, secure application access, application segmentation, application protection, and reduced attack surface; Zero Trust Browser, a solution that secures browser-based access to business applications for the extended workforce, including third parties and partners; Zscaler Digital Experience, a solution that monitors end-user experience and helps organizations identify and resolve performance issues across their digital environment; Zero Trust Branch; and Zero Trust Cloud solutions. It also provides Security for AI solution to secure AI adoption across the full AI ecosystem; data security services, including AI-powered data classification and contextual insights, data loss prevention, Saas security, and data security posture management solution. In addition, the company offers Agentic Security Operations solution that enables enterprises to reduce cyber risk by using AI-powered automation; exposure management platform; deception; managed detection and response; agentic security operations center; and threat hunting solutions. It serves 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.
Company websiteQ3 FY2026
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Comparable businesses
ZS peer comparison
Same business group first, then company size. Preferred market cap: 0.5–2x; extended range: one-third–3x. Outside that range, industry benchmarks are labeled separately and excluded from peer medians.
| Metric | ZSZscaler, Inc.Snapshot 2026-09-20Financial period: 2026-07-31 | OKTAOkta, Inc.Snapshot 2026-09-20Financial period: 2026-07-31 | RBRKRubrik, Inc.Snapshot 2026-09-20Financial period: 2026-07-31 | Peer medianSimilar-size peers only |
|---|---|---|---|---|
| Market capMarket value, converted to USD | US$32.17B | US$31.88B | US$21.96B | US$26.92Bn=2 |
| Forward P/EProvider forward earnings estimate | 35.24x | 41.65x | 139.01x | 90.33xn=2 |
| EV / EBITDAEnterprise value / trailing EBITDA | 697.06x | 92.32x | — | — |
| Revenue growthLatest quarter vs prior-year quarter | 24.9% | 10.6% | 37.9% | 24.2%n=2 |
| Operating marginLatest reported quarter | -1.0% | 13.3% | -16.8% | -1.8%n=2 |
| Free cash flow yieldTrailing cash flow / market cap | 3.3% | 3.3% | 2.2% | 2.7%n=2 |
| Net debt / EBITDANet debt / trailing EBITDA | -36.63x | -7.00x | — | — |
| Debt / equityTotal debt / positive book equity | 0.72x | 0.01x | — | — |
| Trailing P/ETrailing twelve-month earnings | — | 109.86x | — | — |
| Price / bookPrice / positive book equity per share | 12.38x | 4.57x | — | — |
| EV / salesEnterprise value / trailing revenue | 9.12x | 9.64x | 13.96x | 11.80xn=2 |
| Earnings growthLatest quarter vs prior-year quarter | — | 75.7% | — | — |
| Gross marginTrailing twelve months | 76.9% | 78.1% | 80.2% | 79.2%n=2 |
| Net marginTrailing twelve months | -1.9% | 9.6% | -16.5% | -3.4%n=2 |
| Return on equityProvider trailing return; positive equity only | -2.9% | 4.3% | — | — |
| Free cash flow marginTrailing free cash flow / revenue | 32.1% | 33.8% | 31.1% | 32.4%n=2 |
| Dividend yieldIndicated annual dividend / price | — | — | — | — |
| Earnings payoutProvider trailing dividend payout | 0.0% | 0.0% | 0.0% | 0.0%n=2 |
| Current ratioCurrent assets / current liabilities | 1.70x | 1.52x | 1.64x | 1.58xn=2 |
| BetaProvider historical market sensitivity | 0.95 | 0.79 | 1.24 | 1.02n=2 |
YouTube · Q2 FY2027 · 2026-08-30
YouTube · Q2 FY2027 · 2026-08-30
Comparison methodology & limitations
Reviewed operating groups override broad sector classifications. Other companies are matched only within a sufficiently specific provider industry. Business mix, geography and accounting standards can still differ. Market caps are converted to USD using exchange rates captured during the snapshot refresh. Financial ratios that would mix currencies are omitted. Snapshots must be at most 14 days old and no more than seven days apart for automatic selection.
Peer medians require at least two valid similar-size peers for each metric. Negative earnings, nonpositive equity, missing data and irrelevant bank ratios are not presented as attractive valuations. A higher or lower number is not automatically a better investment. Financial statement periods are not calendar-aligned across companies.
Reported performance
Financial trends
Periods are grouped by their ending calendar year or quarter, not identical fiscal calendars. Exact period-end dates appear in tooltips and reported figures. When reporting currencies differ and a recent captured FX rate is available, money and EPS are normalized to USD for comparison. This is not a historical FX restatement. Gaps are not estimated.
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Revenue
Reported figures
Financial data & calculation notes
Standalone charts use the stated reporting currency. When a chart comparison spans currencies, money and EPS can be normalized to USD using a recent captured FX snapshot; this is for comparison only, not a historical FX restatement. Stock-based compensation is noncash. Free cash flow is operating cash flow less capital spending, which may include capitalized software. Missing metrics are not estimated or assumed to be zero. Banking and insurance ratios require industry-specific interpretation. Latest restatements may differ from figures in older episodes.
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Price figures
Earnings-multiple scenario
Illustrative price = your earnings-per-share assumption × your P/E assumption. This is not a price target or a complete valuation model.
Starting assumptions, when available, use provider forward estimates as of 2026-09-20. Negative earnings require a different valuation method. This calculation omits balance-sheet, dilution and execution risks.
THE RESEARCH RECORD
Research history for ZS
Q3 FY20262026-05-26
ZS Stock: HOLD Call - 25% Growth Beats But Cyber Decel Concern Q3 FY2026
Presentation · 2026-05-26 · YouTube