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Zscaler (ZS) Financials

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$198.08 +2.72 (+1.39%)
Closing price 04/11/2025 04:00 PM Eastern
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$199.80 +1.72 (+0.87%)
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Annual Income Statements for Zscaler

Annual Income Statements for Zscaler

This table shows Zscaler's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Net Income / (Loss) Attributable to Common Shareholders		 -36 -45 -40 -29 -115 -262 -390 -202 -58
Consolidated Net Income / (Loss)		 -27 -35 -34 -29 -115 -262 -390 -202 -58
Net Income / (Loss) Continuing Operations		 -27 -35 -34 -29 -115 -262 -390 -202 -58
Total Pre-Tax Income 		-27 -35 -32 -28 -113 -257 -384 -183 -29
Total Operating Income		 -27 -35 -35 -35 -114 -208 -327 -235 -121
Total Gross Profit		 60 98 152 243 336 523 849 1,254 1,691
Total Revenue		 80 126 190 303 431 673 1,091 1,617 2,168
Operating Revenue		 80 126 190 303 431 673 1,091 1,617 2,168
Total Cost of Revenue		 20 27 38 60 96 150 242 363 477
Operating Cost of Revenue		 20 27 38 60 96 150 242 363 477
Total Operating Expenses		 87 133 187 278 449 731 1,176 1,489 1,812
Selling, General & Admin Expense		 9.40 21 31 47 74 97 152 178 212
Marketing Expense		 57 79 116 170 278 459 735 954 1,100
Research & Development Expense		 21 34 39 62 98 175 289 350 500
Restructuring Charge		 - - - - - 0.00 0.00 7.60 0.00
Total Other Income / (Expense), net		 -0.13 0.49 2.32 7.40 1.23 -49 -56 52 92
Interest Expense		 -0.29 -0.60 0.00 0.00 5.03 53 57 6.54 13
Interest & Investment Income		 - - 2.24 7.73 6.48 2.81 4.59 60 109
Other Income / (Expense), net		 -0.42 -0.11 0.08 -0.33 -0.22 1.19 -4.21 -1.86 -3.75
Income Tax Expense		 0.47 0.88 1.34 0.74 2.39 4.85 6.65 20 28
Basic Earnings per Share		 ($1.36) ($1.54) ($0.63) ($0.23) ($0.89) ($1.93) ($2.77) ($1.40) ($0.39)
Weighted Average Basic Shares Outstanding		 26.52M 29.22M 63.88M 123.57M 129.32M 135.65M 140.90M 144.94M 149.59M
Diluted Earnings per Share		 ($1.36) ($1.54) ($0.63) ($0.23) ($0.89) ($1.93) ($2.77) ($1.40) ($0.39)
Weighted Average Diluted Shares Outstanding		 26.52M 29.22M 63.88M 123.57M 129.32M 135.65M 140.90M 144.94M 149.59M
Weighted Average Basic & Diluted Shares Outstanding		 26.52M 29.22M 63.88M 123.57M 129.32M 138.74M 143.05M 147.17M 152.49M

Quarterly Income Statements for Zscaler

This table shows Zscaler's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Net Income / (Loss) Attributable to Common Shareholders		 -98 -68 -57 -46 -31 -33 -28 19 -15 -12 -7.72
Consolidated Net Income / (Loss)		 -98 -68 -57 -46 -31 -33 -28 19 -15 -12 -7.72
Net Income / (Loss) Continuing Operations		 -98 -68 -57 -46 -31 -33 -28 19 -15 -12 -7.72
Total Pre-Tax Income 		-95 -63 -54 -39 -26 -24 -21 21 -5.10 -4.41 -17
Total Operating Income		 -83 -69 -65 -56 -45 -46 -45 -3.01 -27 -31 -40
Total Gross Profit		 250 279 300 323 352 385 408 435 463 486 499
Total Revenue		 318 356 388 419 455 497 525 553 593 628 648
Operating Revenue		 318 356 388 419 455 497 525 553 593 628 648
Total Cost of Revenue		 68 77 88 96 103 111 117 118 130 141 148
Operating Cost of Revenue		 68 77 88 96 103 111 117 118 130 141 148
Total Operating Expenses		 332 348 365 379 397 431 453 438 490 517 540
Selling, General & Admin Expense		 40 44 44 43 46 51 55 50 56 57 61
Marketing Expense		 214 229 236 236 253 267 276 262 294 306 308
Research & Development Expense		 78 75 86 93 96 114 122 125 139 154 171
Total Other Income / (Expense), net		 -13 5.67 11 16 19 22 25 24 22 26 24
Interest Expense		 14 1.33 1.33 1.38 2.49 3.16 3.61 2.76 3.60 3.14 2.34
Interest & Investment Income		 2.61 7.87 13 19 21 26 28 28 27 30 31
Other Income / (Expense), net		 -0.77 -0.86 0.14 -0.81 -0.33 -1.21 0.17 -0.93 -1.78 -0.65 -4.94
Income Tax Expense		 2.50 4.75 3.69 6.69 4.65 9.00 7.96 1.74 9.77 7.64 -8.81
Basic Earnings per Share		 ($0.69) ($0.48) ($0.40) ($0.32) ($0.20) ($0.23) ($0.19) $0.13 ($0.10) ($0.08) ($0.05)
Weighted Average Basic Shares Outstanding		 140.90M 143.48M 144.51M 145.35M 144.94M 147.63M 148.95M 150.29M 149.59M 152.56M 153.67M
Diluted Earnings per Share		 ($0.69) ($0.48) ($0.40) ($0.32) ($0.20) ($0.23) ($0.19) $0.12 ($0.09) ($0.08) ($0.05)
Weighted Average Diluted Shares Outstanding		 140.90M 143.48M 144.51M 145.35M 144.94M 147.63M 148.95M 154.08M 149.59M 152.56M 153.67M
Weighted Average Basic & Diluted Shares Outstanding		 143.05M 144.21M 145.12M 145.89M 147.17M 148.33M 149.86M 151.15M 152.49M 153.44M 154.72M

Annual Cash Flow Statements for Zscaler

This table details how cash moves in and out of Zscaler's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2021 2022 2023 2024
Net Change in Cash & Equivalents		 9.00 -4.70 48 -58 134 737 249 161
Net Cash From Operating Activities		 -12 -6.02 17 58 202 322 462 780
Net Cash From Continuing Operating Activities		 -12 -6.02 17 58 202 322 462 780
Net Income / (Loss) Continuing Operations		 -27 -35 -34 -29 -262 -390 -202 -58
Consolidated Net Income / (Loss)		 -27 -35 -34 -29 -262 -390 -202 -58
Depreciation Expense		 4.87 6.84 7.99 10 30 40 56 66
Amortization Expense		 5.52 8.47 13 17 111 139 107 130
Non-Cash Adjustments To Reconcile Net Income		 -9.94 -12 -23 47 280 434 476 580
Changes in Operating Assets and Liabilities, net		 15 26 53 12 43 98 26 61
Net Cash From Investing Activities		 -6.65 -8.17 -178 -162 -110 374 -259 -683
Net Cash From Continuing Investing Activities		 -6.65 -8.17 -178 -162 -110 374 -259 -683
Purchase of Property, Plant & Equipment		 -6.25 -8.17 -15 -29 -58 -91 -129 -195
Acquisitions		 - 0.00 0.00 -13 -41 -25 -16 -375
Purchase of Investments		 0.00 0.00 -163 -335 -819 -845 -1,067 -1,293
Sale and/or Maturity of Investments		 - 0.00 0.43 215 808 1,335 952 1,179
Net Cash From Financing Activities		 28 9.50 208 46 42 41 46 64
Net Cash From Continuing Financing Activities		 28 9.50 208 46 42 41 46 64
Repayment of Debt		 - - - - 0.00 -0.01 -0.00 -0.04
Issuance of Common Equity		 0.78 4.70 206 16 26 35 42 52
Other Financing Activities, net		 0.99 2.97 4.99 30 16 6.69 3.73 12
Cash Interest Paid		 - - - 0.00 1.46 1.44 1.44 1.44
Cash Income Taxes Paid		 0.32 0.39 0.87 1.77 4.14 5.61 15 23

Quarterly Cash Flow Statements for Zscaler

This table details how cash moves in and out of Zscaler's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Net Change in Cash & Equivalents		 418 72 172 18 -13 100 77 -179 164 131 205
Net Cash From Operating Activities		 103 128 89 108 136 261 142 173 204 331 179
Net Cash From Continuing Operating Activities		 103 128 89 108 136 261 142 173 204 331 179
Net Income / (Loss) Continuing Operations		 -98 -68 -57 -46 -31 -33 -28 19 -15 -12 -7.72
Consolidated Net Income / (Loss)		 -98 -68 -57 -46 -31 -33 -28 19 -15 -12 -7.72
Depreciation Expense		 11 12 13 15 16 14 15 18 19 21 24
Amortization Expense		 37 26 26 27 28 31 29 33 37 39 40
Non-Cash Adjustments To Reconcile Net Income		 120 111 118 116 131 140 153 127 161 173 189
Changes in Operating Assets and Liabilities, net		 33 48 -10 -3.31 -8.61 109 -26 -23 1.10 109 -66
Net Cash From Investing Activities		 291 -58 70 -91 -180 -163 -86 -360 -74 -202 0.52
Net Cash From Continuing Investing Activities		 291 -58 70 -91 -180 -163 -86 -360 -74 -202 0.52
Purchase of Property, Plant & Equipment		 -28 -33 -27 -35 -35 -36 -41 -50 -67 -39 -36
Acquisitions		 -25 0.00 - -16 - -4.38 - -357 -13 0.00 -0.83
Purchase of Investments		 -35 -211 -304 -227 -325 -376 -388 -242 -287 -431 -299
Sale and/or Maturity of Investments		 380 186 401 186 179 254 343 290 293 269 336
Net Cash From Financing Activities		 24 0.98 13 1.09 31 1.26 21 7.44 35 0.89 25
Net Cash From Continuing Financing Activities		 24 0.98 13 1.09 31 1.26 21 7.44 35 0.89 25
Other Financing Activities, net		 0.55 0.98 1.12 1.09 0.54 1.26 2.59 7.44 0.96 0.89 2.57
Cash Income Taxes Paid		 1.69 3.00 0.01 3.57 8.36 5.29 6.22 7.92 3.69 9.40 7.50

Annual Balance Sheets for Zscaler

This table presents Zscaler's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2017 2018 2019 2020 2021 2022 2023 2024
Total Assets		 183 448 604 1,833 2,258 2,833 3,608 4,705
Total Current Assets		 143 387 496 1,582 1,848 2,257 2,890 3,397
Cash & Equivalents		 88 136 78 142 276 1,013 1,262 1,423
Short-Term Investments		 0.00 163 286 1,229 1,227 718 838 987
Accounts Receivable		 39 62 93 148 257 400 583 737
Prepaid Expenses		 5.41 11 17 31 31 39 92 102
Other Current Assets		 10 16 21 32 57 86 116 149
Plant, Property, & Equipment, net		 13 20 41 76 109 161 242 383
Total Noncurrent Assets		 27 41 67 176 301 415 476 925
Goodwill		 - 0.00 7.48 30 59 79 89 417
Intangible Assets		 - 0.00 8.71 24 32 32 26 64
Other Noncurrent Operating Assets		 27 41 51 122 210 305 361 444
Total Liabilities & Shareholders' Equity		 183 448 604 1,833 2,258 2,833 3,608 4,705
Total Liabilities		 133 208 296 1,349 1,729 2,259 2,883 3,431
Total Current Liabilities		 120 183 262 424 720 1,134 1,536 3,113
Short-Term Debt		 - - - - - - 0.00 1,142
Accounts Payable		 3.76 4.90 6.21 5.23 13 26 18 23
Accrued Expenses		 12 14 13 16 23 46 65 92
Current Deferred Revenue		 85 141 221 337 571 924 1,281 1,644
Current Employee Benefit Liabilities		 12 23 22 49 94 112 137 161
Other Current Liabilities		 7.97 - 0.00 16 20 26 34 51
Total Noncurrent Liabilities		 13 25 34 925 1,009 1,125 1,347 318
Noncurrent Deferred Revenue		 11 23 30 33 59 97 159 251
Other Noncurrent Operating Liabilities		 1.46 1.36 3.84 31 36 59 55 67
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 -151 240 309 485 529 573 725 1,274
Total Preferred & Common Equity		 -151 240 309 485 529 573 725 1,274
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 -151 240 309 485 529 573 725 1,274
Common Stock		 19 439 533 824 1,131 1,591 1,817 2,427
Retained Earnings		 -162 -196 -224 -340 -602 -992 -1,090 -1,148
Accumulated Other Comprehensive Income / (Loss)		 0.00 -0.12 0.27 0.46 -0.65 -26 -1.58 -4.79

Quarterly Balance Sheets for Zscaler

This table presents Zscaler's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2022 Q1 2023 Q2 2023 Q3 2023 Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025
Total Assets		 2,525 2,836 3,040 3,201 3,636 3,934 4,199 4,709 5,006
Total Current Assets		 2,047 2,233 2,416 2,527 2,892 3,143 2,970 3,394 3,665
Cash & Equivalents		 595 1,085 1,257 1,275 1,362 1,439 1,259 1,554 1,759
Short-Term Investments		 1,063 740 648 693 963 1,021 981 1,154 1,122
Accounts Receivable		 272 269 359 376 367 480 506 425 514
Prepaid Expenses		 41 50 56 79 81 78 89 109 115
Other Current Assets		 76 90 96 104 119 126 135 152 156
Plant, Property, & Equipment, net		 142 183 200 223 266 294 331 409 422
Total Noncurrent Assets		 336 419 423 451 478 497 898 906 918
Goodwill		 60 79 79 89 92 92 417 417 418
Intangible Assets		 27 29 27 29 26 23 69 60 56
Other Noncurrent Operating Assets		 249 311 318 333 360 382 412 430 445
Total Liabilities & Shareholders' Equity		 2,525 2,836 3,040 3,201 3,636 3,934 4,199 4,709 5,006
Total Liabilities		 1,993 2,404 2,511 2,599 2,828 2,975 3,106 3,280 3,399
Total Current Liabilities		 913 1,111 1,204 1,289 1,474 1,584 1,701 2,964 3,049
Short-Term Debt		 - - - - - - - 1,146 1,148
Accounts Payable		 15 30 34 25 23 17 28 25 25
Accrued Expenses		 43 60 44 51 71 68 83 83 91
Current Deferred Revenue		 732 913 1,000 1,059 1,245 1,316 1,377 1,533 1,596
Current Employee Benefit Liabilities		 103 80 97 123 98 137 163 126 140
Other Current Liabilities		 20 29 29 31 38 45 51 50 50
Total Noncurrent Liabilities		 1,080 1,293 1,307 1,310 1,354 1,391 1,404 317 350
Noncurrent Deferred Revenue		 87 93 112 116 155 186 200 251 283
Other Noncurrent Operating Liabilities		 39 61 55 53 65 65 66 66 67
Commitments & Contingencies		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Equity & Noncontrolling Interests		 532 431 529 601 808 959 1,093 1,429 1,607
Total Preferred & Common Equity		 532 431 529 601 808 959 1,093 1,429 1,607
Preferred Stock		 - - - - - - - 0.00 0.00
Total Common Equity		 532 431 529 601 808 959 1,093 1,429 1,607
Common Stock		 1,450 1,425 1,547 1,661 1,949 2,114 2,242 2,593 2,798
Retained Earnings		 -894 -956 -1,014 -1,060 -1,124 -1,152 -1,133 -1,160 -1,168
Accumulated Other Comprehensive Income / (Loss)		 -24 -38 -5.04 -0.10 -18 -3.01 -16 -4.49 -22

Annual Metrics and Ratios for Zscaler

This table displays calculated financial ratios and metrics derived from Zscaler's official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024
Growth Metrics		 - - - - - - - - -
Revenue Growth		 0.00% 56.51% 51.27% 59.24% 42.41% 56.07% 62.08% 48.22% 34.07%
EBITDA Growth		 0.00% -17.75% 32.67% 82.39% -703.52% -4.38% -130.28% 51.53% 196.00%
EBIT Growth		 0.00% -29.06% 1.81% -6.35% -220.35% -80.97% -60.50% 28.69% 47.05%
NOPAT Growth		 0.00% -30.66% 1.28% -2.53% -222.70% -82.36% -57.56% 28.34% 48.22%
Net Income Growth		 0.00% -29.24% 5.12% 29.67% -301.73% -127.62% -48.94% 48.16% 71.48%
EPS Growth		 0.00% -13.24% 59.09% 126.98% -286.96% -116.85% -43.52% 49.46% 72.14%
Operating Cash Flow Growth		 0.00% 49.49% 387.54% 235.28% 36.69% 154.72% 59.33% 43.62% 68.67%
Free Cash Flow Firm Growth		 0.00% 0.00% -129.99% -114.52% -314.82% 2.01% 8.70% -12.69% -195.38%
Invested Capital Growth		 0.00% 0.00% -52.85% 7.60% 56.98% -149.16% -214.98% -27.25% 102.79%
Revenue Q/Q Growth		 0.00% 0.00% 0.00% 21.94% 10.16% 11.83% 12.47% 9.25% 6.79%
EBITDA Q/Q Growth		 0.00% 0.00% 0.00% 19.83% -68.85% -4.19% -4.92% 32.04% 67.06%
EBIT Q/Q Growth		 0.00% 0.00% 0.00% -1.80% -47.87% -11.87% -5.15% 13.98% 11.42%
NOPAT Q/Q Growth		 0.00% 0.00% 0.00% -0.04% -47.99% -12.15% -4.85% 13.93% 12.66%
Net Income Q/Q Growth		 0.00% 0.00% 0.00% 11.11% -62.49% -13.65% -4.45% 24.87% 21.49%
EPS Q/Q Growth		 0.00% 0.00% 0.00% -966.67% -61.82% -12.21% -3.75% 25.93% 22.00%
Operating Cash Flow Q/Q Growth		 0.00% 0.00% 1,734.28% 11.54% 21.09% 6.93% 22.16% 7.64% 9.49%
Free Cash Flow Firm Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -75.85% 13.79% 5.82% 17.33% -5.80%
Invested Capital Q/Q Growth		 0.00% 0.00% 0.00% 30.44% 57.31% -1.49% -10.28% -6.48% 173.29%
Profitability Metrics		 - - - - - - - - -
Gross Margin		 74.94% 78.15% 80.08% 160.59% 77.80% 77.67% 77.79% 77.56% 77.99%
EBITDA Margin		 -21.00% -15.80% -7.03% -5.19% -14.66% -9.80% -13.93% -4.55% 3.26%
Operating Margin		 -33.42% -27.90% -18.21% -11.66% -26.42% -30.87% -30.01% -14.51% -5.60%
EBIT Margin		 -33.94% -27.98% -18.16% -23.54% -26.48% -30.70% -30.40% -14.63% -5.78%
Profit (Net Income) Margin		 -34.16% -28.21% -17.69% -9.46% -26.69% -38.93% -35.77% -12.51% -2.66%
Tax Burden Percent		 101.74% 102.54% 104.14% 205.32% 102.12% 101.89% 101.73% 110.83% 197.43%
Interest Burden Percent		 98.94% 98.30% 93.53% 156.62% 98.73% 124.47% 115.68% 77.20% 23.34%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 0.00% -71.15% -23.20% -20.89% -29.02% -51.70% -70.82% -31.17% -5.77%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4,948.95%
Operating Return on Assets (OROA)		 0.00% -19.23% -10.95% -13.55% -9.37% -10.10% -13.03% -7.34% -3.01%
Return on Assets (ROA)		 0.00% -19.39% -10.67% -5.45% -9.45% -12.81% -15.33% -6.28% -1.39%
Return on Common Equity (ROCE)		 0.00% 215.80% -7.13% -20.89% -29.02% -51.70% -70.82% -31.17% -5.77%
Return on Equity Simple (ROE_SIMPLE)		 0.00% 23.46% -14.01% -9.29% -23.74% -49.54% -68.08% -27.90% -4.53%
Net Operating Profit after Tax (NOPAT)		 -19 -25 -24 -25 -80 -145 -229 -164 -85
NOPAT Margin		 -23.39% -19.53% -12.74% -8.16% -18.50% -21.61% -21.01% -10.16% -3.92%
Net Nonoperating Expense Percent (NNEP)		 0.00% -24.80% -4.87% -2.30% -8.09% -21.23% -23.83% -4.41% 2.45%
Cost of Revenue to Revenue		 25.06% 21.85% 19.92% 39.41% 22.20% 22.33% 22.21% 22.44% 22.01%
SG&A Expenses to Revenue		 11.70% 16.32% 16.37% 30.77% 17.07% 14.34% 13.91% 10.98% 9.78%
R&D to Revenue		 26.07% 26.70% 20.71% 40.93% 22.70% 25.95% 26.50% 21.63% 23.06%
Operating Expenses to Revenue		 108.36% 106.05% 98.29% 183.91% 104.23% 108.54% 107.80% 92.07% 83.59%
Earnings before Interest and Taxes (EBIT)		 -27 -35 -35 -36 -114 -207 -332 -236 -125
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -17 -20 -13 -7.87 -63 -66 -152 -74 71
Valuation Ratios		 - - - - - - - - -
Price to Book Value (P/BV)		 0.00 0.00 17.58 34.32 34.96 61.10 38.37 32.27 21.28
Price to Tangible Book Value (P/TBV)		 0.00 0.00 17.58 36.22 39.35 73.82 47.52 38.35 34.17
Price to Revenue (P/Rev)		 2.39 1.53 22.21 34.97 39.30 48.01 20.16 14.47 12.51
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,843.70
Enterprise Value to Revenue (EV/Rev)		 0.00 2.43 20.64 33.76 38.12 47.14 19.46 13.87 11.92
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 365.53
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 226.77 349.37 207.25 157.04 65.96 48.52 33.14
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 22.44 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - -
Debt to Equity		 0.00 0.00 0.00 0.00 1.78 1.73 1.69 1.56 0.90
Long-Term Debt to Equity		 0.00 0.00 0.00 0.00 1.78 1.73 1.69 1.56 0.00
Financial Leverage		 0.00 -1.77 -1.33 -2.42 -1.10 -1.08 -1.23 -1.33 -1.12
Leverage Ratio		 0.00 3.67 2.17 1.92 3.07 4.04 4.62 4.96 4.16
Compound Leverage Factor		 0.00 3.61 2.03 3.00 3.03 5.02 5.34 3.83 0.97
Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 63.99% 63.33% 62.82% 61.00% 47.27%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 47.27%
Long-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 63.99% 63.33% 62.82% 61.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 403.28% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 0.00% -303.28% 100.00% 200.00% 36.01% 36.67% 37.18% 39.00% 52.73%
Debt to EBITDA		 0.00 0.00 0.00 0.00 -13.63 -13.85 -6.38 -15.40 16.16
Net Debt to EBITDA		 0.00 0.00 0.00 0.00 8.05 8.93 5.02 13.12 -17.93
Long-Term Debt to EBITDA		 0.00 0.00 0.00 0.00 -13.63 -13.85 -6.38 -15.40 0.00
Debt to NOPAT		 0.00 0.00 0.00 0.00 -10.80 -6.28 -4.23 -6.91 -13.43
Net Debt to NOPAT		 0.00 0.00 0.00 0.00 6.38 4.05 3.33 5.88 14.90
Long-Term Debt to NOPAT		 0.00 0.00 0.00 0.00 -10.80 -6.28 -4.23 -6.91 0.00
Altman Z-Score		 0.00 -0.17 12.31 43.13 8.07 11.44 5.83 5.13 4.84
Noncontrolling Interest Sharing Ratio		 0.00% 403.28% 69.29% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - -
Current Ratio		 0.00 1.19 2.12 3.79 3.73 2.57 1.99 1.88 1.09
Quick Ratio		 0.00 1.05 1.97 3.50 3.58 2.44 1.88 1.75 1.01
Cash Flow Metrics		 - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.00 14 -4.08 -27 -112 -109 -100 -113 -333
Operating Cash Flow to CapEx		 -190.75% -73.64% 114.09% 404.62% 153.10% 346.57% 355.39% 359.17% 400.13%
Free Cash Flow to Firm to Interest Expense		 0.00 0.00 0.00 0.00 -22.23 -2.05 -1.77 -17.22 -25.34
Operating Cash Flow to Interest Expense		 0.00 0.00 0.00 0.00 15.78 3.79 5.69 70.68 59.39
Operating Cash Flow Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 5.47 2.69 4.09 51.00 44.54
Efficiency Ratios		 - - - - - - - - -
Asset Turnover		 0.00 0.69 0.60 1.15 0.35 0.33 0.43 0.50 0.52
Accounts Receivable Turnover		 0.00 3.22 3.78 7.82 3.58 3.33 3.32 3.29 3.29
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 0.00 9.57 11.56 9.96 7.39 7.30 8.10 8.02 6.93
Accounts Payable Turnover		 0.00 7.30 8.75 21.50 16.74 16.91 12.52 16.26 22.83
Days Sales Outstanding (DSO)		 0.00 113.38 96.60 186.76 101.95 109.73 109.88 110.88 111.06
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 0.00 50.00 41.72 67.92 21.81 21.59 29.15 22.45 15.98
Cash Conversion Cycle (CCC)		 0.00 63.39 54.88 118.84 80.14 88.14 80.73 88.43 95.07
Capital & Investment Metrics		 - - - - - - - - -
Invested Capital		 0.00 -38 -58 -56 -24 -60 -189 -241 6.72
Invested Capital Turnover		 0.00 -6.59 -3.94 -9.19 -10.75 -15.98 -8.75 -7.52 -18.51
Increase / (Decrease) in Invested Capital		 0.00 -38 -20 2.22 32 -36 -129 -52 248
Enterprise Value (EV)		 0.00 305 3,925 10,225 16,439 31,728 21,235 22,432 25,841
Market Capitalization		 192 192 4,223 10,590 16,948 32,317 21,997 23,398 27,109
Book Value per Share		 $0.00 ($5.17) $2.01 $2.46 $3.71 $3.86 $4.04 $4.97 $8.43
Tangible Book Value per Share		 $0.00 ($5.17) $2.01 $2.33 $3.30 $3.20 $3.26 $4.18 $5.25
Total Capital		 0.00 50 240 309 1,346 1,442 1,542 1,859 2,416
Total Debt		 0.00 0.00 0.00 0.00 862 914 969 1,134 1,142
Total Long-Term Debt		 0.00 0.00 0.00 0.00 862 914 969 1,134 0.00
Net Debt		 0.00 -88 -299 -365 -509 -589 -763 -966 -1,267
Capital Expenditures (CapEx)		 6.25 8.17 15 29 52 58 91 129 195
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 0.00 -66 -94 -131 -213 -374 -609 -746 -984
Debt-free Net Working Capital (DFNWC)		 0.00 22 204 234 1,158 1,128 1,122 1,354 1,426
Net Working Capital (NWC)		 0.00 22 204 234 1,158 1,128 1,122 1,354 284
Net Nonoperating Expense (NNE)		 8.65 11 9.41 3.94 35 117 161 38 -27
Net Nonoperating Obligations (NNO)		 0.00 -88 -299 -365 -509 -589 -763 -966 -1,267
Total Depreciation and Amortization (D&A)		 10 15 21 28 51 141 180 163 196
Debt-free, Cash-free Net Working Capital to Revenue		 0.00% -52.12% -49.54% -43.10% -49.32% -55.63% -55.84% -46.12% -45.38%
Debt-free Net Working Capital to Revenue		 0.00% 17.86% 107.44% 154.63% 268.48% 167.60% 102.86% 83.77% 65.78%
Net Working Capital to Revenue		 0.00% 17.86% 107.44% 154.63% 268.48% 167.60% 102.86% 83.77% 13.09%
Earnings Adjustments		 - - - - - - - - -
Adjusted Basic Earnings per Share		 ($1.36) ($1.54) ($0.63) ($0.23) ($0.89) ($1.93) ($2.77) ($1.40) ($0.39)
Adjusted Weighted Average Basic Shares Outstanding		 26.52M 29.22M 119.77M 127.45M 132.91M 135.65M 140.90M 144.94M 149.59M
Adjusted Diluted Earnings per Share		 ($1.36) ($1.54) ($0.63) ($0.23) ($0.89) ($1.93) ($2.77) ($1.40) ($0.39)
Adjusted Weighted Average Diluted Shares Outstanding		 26.52M 29.22M 119.77M 127.45M 132.91M 135.65M 140.90M 144.94M 149.59M
Adjusted Basic & Diluted Earnings per Share		 ($1.36) ($1.54) ($0.63) ($0.23) ($0.89) $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 26.52M 29.22M 63.88M 123.57M 129.32M 138.74M 143.05M 147.17M 152.49M
Normalized Net Operating Profit after Tax (NOPAT)		 -19 -25 -24 -25 -80 -145 -229 -159 -85
Normalized NOPAT Margin		 -23.39% -19.53% -12.74% -16.33% -18.50% -21.61% -21.01% -9.83% -3.92%
Pre Tax Income Margin		 -33.58% -27.51% -16.99% -18.43% -26.14% -38.21% -35.16% -11.29% -1.35%
Debt Service Ratios		 - - - - - - - - -
EBIT to Interest Expense		 0.00 0.00 0.00 0.00 -22.72 -3.87 -5.86 -36.15 -9.54
NOPAT to Interest Expense		 0.00 0.00 0.00 0.00 -15.87 -2.73 -4.05 -25.11 -6.48
EBIT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -33.03 -4.96 -7.46 -55.83 -24.38
NOPAT Less CapEx to Interest Expense		 0.00 0.00 0.00 0.00 -26.18 -3.82 -5.65 -44.79 -21.32
Payout Ratios		 - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% -0.09% -24.21% -12.70% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics and Ratios for Zscaler

This table displays calculated financial ratios and metrics derived from Zscaler's official financial filings.

Metric Q4 2022 Q1 2023 Q2 2023 Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 61.39% 54.24% 51.66% 46.02% 43.06% 39.70% 35.45% 32.09% 30.30% 26.42% 23.41%
EBITDA Growth		 -25.12% 0.82% 36.83% 65.77% 97.80% 92.65% 96.83% 414.54% 3,628.90% 1,333.84% 2,511.66%
EBIT Growth		 -24.21% 6.68% 23.21% 36.17% 46.12% 32.42% 30.43% 93.03% 35.98% 33.74% 0.46%
NOPAT Growth		 -22.45% 7.10% 22.27% 35.63% 46.02% 33.33% 30.32% 92.92% 39.51% 33.42% 11.70%
Net Income Growth		 -20.52% 24.93% 42.79% 54.59% 68.59% 50.88% 50.45% 141.53% 51.50% 64.01% 72.87%
EPS Growth		 -16.95% 26.15% 43.66% 55.56% 71.01% 52.08% 52.50% 137.50% 55.00% 65.22% 73.68%
Operating Cash Flow Growth		 130.55% 37.72% 85.41% 40.43% 31.80% 103.03% 58.77% 59.87% 49.74% 27.04% 26.30%
Free Cash Flow Firm Growth		 738.87% 202.11% 79.22% -70.01% -71.45% 23.61% 86.30% -1,513.87% -1,406.00% -380.18% -385.66%
Invested Capital Growth		 -214.98% -99.31% -67.32% -31.78% -27.25% -50.75% -52.41% 95.95% 102.79% 65.12% 65.17%
Revenue Q/Q Growth		 10.90% 11.79% 9.01% 8.05% 8.65% 9.16% 5.70% 5.37% 7.17% 5.92% 3.18%
EBITDA Q/Q Growth		 17.47% 8.75% 20.51% 42.83% 94.69% -204.60% 65.79% 5,780.61% -40.39% 6.50% -33.12%
EBIT Q/Q Growth		 5.98% 16.03% 6.94% 13.12% 20.64% -5.32% 4.20% 91.30% -629.26% -9.00% -43.93%
NOPAT Q/Q Growth		 4.70% 16.29% 5.57% 14.55% 20.08% -3.38% 1.30% 91.32% -583.15% -13.79% -30.89%
Net Income Q/Q Growth		 3.70% 30.20% 15.71% 19.85% 33.38% -9.16% 14.97% 167.17% -177.80% 19.00% 35.91%
EPS Q/Q Growth		 4.17% 30.43% 16.67% 20.00% 37.50% -15.00% 17.39% 163.16% -175.00% 11.11% 37.50%
Operating Cash Flow Q/Q Growth		 33.53% 24.55% -30.34% 21.22% 25.32% 91.86% -45.53% 22.06% 17.38% 62.77% -45.85%
Free Cash Flow Firm Q/Q Growth		 37.82% 9.38% -36.87% -68.49% 31.24% 373.50% -4.86% -339.14% -21.22% -1.58% 3.00%
Invested Capital Q/Q Growth		 -10.28% -34.12% 7.01% 4.18% -6.48% -58.89% 5.99% 97.45% 173.29% -2,086.51% 6.12%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 78.52% 78.43% 77.40% 77.11% 77.43% 77.57% 77.68% 78.61% 78.04% 77.47% 77.08%
EBITDA Margin		 -11.16% -9.11% -6.64% -3.51% -0.17% -0.48% -0.16% 8.37% 4.65% 4.68% 3.03%
Operating Margin		 -25.95% -19.43% -16.83% -13.31% -9.79% -9.27% -8.66% -0.54% -4.55% -4.88% -6.20%
EBIT Margin		 -26.19% -19.67% -16.80% -13.50% -9.86% -9.52% -8.63% -0.71% -4.85% -4.99% -6.96%
Profit (Net Income) Margin		 -30.70% -19.17% -14.82% -10.99% -6.74% -6.74% -5.42% 3.46% -2.51% -1.92% -1.19%
Tax Burden Percent		 102.63% 107.48% 106.87% 116.98% 117.86% 136.74% 138.84% 91.65% 291.50% 273.02% 46.71%
Interest Burden Percent		 114.23% 90.66% 82.59% 69.60% 57.99% 51.80% 45.28% -529.59% 17.76% 14.09% 36.69%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 8.35% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
ROIC Less NNEP Spread (ROIC-NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Net Nonoperating Assets (RNNOA)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Equity (ROE)		 -70.82% -76.47% -60.80% -47.55% -31.17% -27.07% -18.64% -8.68% -5.77% -3.24% -1.21%
Cash Return on Invested Capital (CROIC)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -4,948.95% 0.00% 0.00%
Operating Return on Assets (OROA)		 -11.23% -9.37% -8.29% -6.98% -4.95% -5.17% -4.69% -0.39% -2.53% -2.75% -3.77%
Return on Assets (ROA)		 -13.16% -9.13% -7.32% -5.68% -3.38% -3.66% -2.95% 1.90% -1.31% -1.06% -0.65%
Return on Common Equity (ROCE)		 -70.82% -76.47% -60.80% -47.55% -31.17% -27.07% -18.64% -8.68% -5.77% -3.24% -1.21%
Return on Equity Simple (ROE_SIMPLE)		 0.00% -85.24% -61.41% -44.79% 0.00% -20.76% -14.46% -6.72% 0.00% -2.54% -0.97%
Net Operating Profit after Tax (NOPAT)		 -58 -48 -46 -39 -31 -32 -32 -2.76 -19 -21 -28
NOPAT Margin		 -18.16% -13.60% -11.78% -9.32% -6.85% -6.49% -6.06% -0.50% -3.18% -3.42% -4.34%
Net Nonoperating Expense Percent (NNEP)		 -5.90% -2.95% -1.63% -0.92% 0.06% -0.13% 0.32% 2.27% 0.36% 0.68% 1.34%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - -1.52% - - - -1.02%
Cost of Revenue to Revenue		 21.48% 21.57% 22.60% 22.89% 22.57% 22.43% 22.32% 21.39% 21.96% 22.53% 22.92%
SG&A Expenses to Revenue		 12.55% 12.42% 11.23% 10.38% 10.19% 10.21% 10.40% 9.12% 9.49% 9.05% 9.39%
R&D to Revenue		 24.57% 21.08% 22.13% 22.12% 21.18% 22.86% 23.27% 22.59% 23.47% 24.56% 26.37%
Operating Expenses to Revenue		 104.47% 97.86% 94.23% 90.42% 87.22% 86.85% 86.33% 79.15% 82.58% 82.36% 83.28%
Earnings before Interest and Taxes (EBIT)		 -83 -70 -65 -57 -45 -47 -45 -3.94 -29 -31 -45
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -35 -32 -26 -15 -0.78 -2.38 -0.82 46 28 29 20
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 38.37 51.11 33.87 21.75 32.27 28.92 36.46 23.71 21.28 19.30 19.34
Price to Tangible Book Value (P/TBV)		 47.52 68.15 42.29 27.06 38.35 33.87 41.42 42.69 34.17 28.96 27.41
Price to Revenue (P/Rev)		 20.16 18.13 13.28 8.83 14.47 13.28 18.44 12.77 12.51 11.99 12.83
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 3,843.70 0.00 0.00
Enterprise Value to Revenue (EV/Rev)		 19.46 17.57 12.72 8.28 13.87 12.61 17.75 12.22 11.92 11.31 12.12
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 586.37 365.53 253.80 238.76
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 65.96 59.81 43.03 28.51 48.52 37.27 51.97 34.84 33.14 30.58 33.06
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.69 2.64 2.16 1.90 1.56 1.40 1.19 1.04 0.90 0.80 0.71
Long-Term Debt to Equity		 1.69 2.64 2.16 1.90 1.56 1.40 1.19 1.04 0.00 0.00 0.00
Financial Leverage		 -1.23 -1.40 -1.35 -1.35 -1.33 -1.51 -1.40 -1.14 -1.12 -1.23 -1.19
Leverage Ratio		 4.62 5.31 5.11 5.05 4.96 5.22 4.69 4.37 4.16 3.73 3.48
Compound Leverage Factor		 5.28 4.82 4.22 3.52 2.88 2.71 2.12 -23.13 0.74 0.53 1.28
Debt to Total Capital		 62.82% 72.54% 68.33% 65.49% 61.00% 58.41% 54.34% 51.00% 47.27% 44.51% 41.65%
Short-Term Debt to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 47.27% 44.51% 41.65%
Long-Term Debt to Total Capital		 62.82% 72.54% 68.33% 65.49% 61.00% 58.41% 54.34% 51.00% 0.00% 0.00% 0.00%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 37.18% 27.46% 31.67% 34.51% 39.00% 41.59% 45.66% 49.00% 52.73% 55.49% 58.35%
Debt to EBITDA		 -6.38 -7.51 -8.35 -10.53 -15.40 -25.99 -61.02 26.88 16.16 11.18 9.33
Net Debt to EBITDA		 5.02 4.52 5.60 7.64 13.12 27.28 70.53 -26.05 -17.93 -15.24 -14.09
Long-Term Debt to EBITDA		 -6.38 -7.51 -8.35 -10.53 -15.40 -25.99 -61.02 26.88 0.00 0.00 0.00
Debt to NOPAT		 -4.23 -5.05 -5.37 -5.98 -6.91 -7.66 -8.50 -11.69 -13.43 -15.43 -16.27
Net Debt to NOPAT		 3.33 3.04 3.60 4.34 5.88 8.04 9.82 11.32 14.90 21.04 24.56
Long-Term Debt to NOPAT		 -4.23 -5.05 -5.37 -5.98 -6.91 -7.66 -8.50 -11.69 0.00 0.00 0.00
Altman Z-Score		 6.11 5.85 4.66 3.42 5.30 5.43 7.56 5.47 4.91 5.27 5.76
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.99 2.01 2.01 1.96 1.88 1.96 1.98 1.75 1.09 1.15 1.20
Quick Ratio		 1.88 1.88 1.88 1.82 1.75 1.83 1.86 1.61 1.01 1.06 1.11
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 71 78 49 16 20 97 92 -220 -267 -271 -263
Operating Cash Flow to CapEx		 363.58% 391.12% 335.60% 313.65% 392.48% 722.69% 344.15% 344.84% 302.74% 839.80% 498.36%
Free Cash Flow to Firm to Interest Expense		 4.94 58.74 37.03 11.25 8.18 30.59 25.51 -79.55 -73.96 -86.15 -112.29
Operating Cash Flow to Interest Expense		 7.13 96.51 67.13 78.43 54.51 82.56 39.41 62.74 56.48 105.42 76.71
Operating Cash Flow Less CapEx to Interest Expense		 5.17 71.84 47.13 53.42 40.62 71.14 27.96 44.55 37.82 92.87 61.32
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.43 0.48 0.49 0.52 0.50 0.54 0.54 0.55 0.52 0.55 0.54
Accounts Receivable Turnover		 3.32 5.52 4.29 4.56 3.29 5.53 4.52 4.60 3.29 5.81 4.87
Inventory Turnover		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Fixed Asset Turnover		 8.10 8.20 8.38 8.12 8.02 7.83 7.66 7.34 6.93 6.82 6.76
Accounts Payable Turnover		 12.52 11.94 12.59 16.42 16.26 15.02 16.83 17.03 22.83 20.87 25.80
Days Sales Outstanding (DSO)		 109.88 66.15 85.03 79.96 110.88 65.97 80.70 79.35 111.06 62.82 74.90
Days Inventory Outstanding (DIO)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Days Payable Outstanding (DPO)		 29.15 30.56 29.00 22.23 22.45 24.31 21.69 21.44 15.98 17.49 14.15
Cash Conversion Cycle (CCC)		 80.73 35.59 56.03 57.72 88.43 41.67 59.01 57.92 95.07 45.34 60.75
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 -189 -254 -236 -226 -241 -383 -360 -9.17 6.72 -134 -125
Invested Capital Turnover		 -8.75 -6.38 -7.15 -7.44 -7.52 -5.52 -6.36 -17.24 -18.51 -8.90 -9.98
Increase / (Decrease) in Invested Capital		 -129 -127 -95 -55 -52 -129 -124 217 248 249 235
Enterprise Value (EV)		 21,235 21,359 17,141 12,248 22,432 22,164 33,639 24,814 25,841 26,007 29,352
Market Capitalization		 21,997 22,044 17,905 13,075 23,398 23,354 34,958 25,916 27,109 27,569 31,085
Book Value per Share		 $4.04 $3.01 $3.67 $4.14 $4.97 $5.49 $6.46 $7.29 $8.43 $9.37 $10.48
Tangible Book Value per Share		 $3.26 $2.26 $2.94 $3.33 $4.18 $4.69 $5.69 $4.05 $5.25 $6.24 $7.39
Total Capital		 1,542 1,571 1,669 1,742 1,859 1,942 2,100 2,231 2,416 2,574 2,755
Total Debt		 969 1,140 1,141 1,141 1,134 1,134 1,141 1,138 1,142 1,146 1,148
Total Long-Term Debt		 969 1,140 1,141 1,141 1,134 1,134 1,141 1,138 0.00 0.00 0.00
Net Debt		 -763 -685 -765 -828 -966 -1,190 -1,319 -1,102 -1,267 -1,562 -1,733
Capital Expenditures (CapEx)		 28 33 27 35 35 36 41 50 67 39 36
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 -609 -703 -693 -730 -746 -907 -901 -971 -984 -1,132 -1,116
Debt-free Net Working Capital (DFNWC)		 1,122 1,122 1,212 1,238 1,354 1,417 1,559 1,269 1,426 1,576 1,764
Net Working Capital (NWC)		 1,122 1,122 1,212 1,238 1,354 1,417 1,559 1,269 284 430 616
Net Nonoperating Expense (NNE)		 40 20 12 7.02 -0.51 1.24 -3.35 -22 -3.99 -9.42 -20
Net Nonoperating Obligations (NNO)		 -763 -685 -765 -828 -966 -1,190 -1,319 -1,102 -1,267 -1,562 -1,733
Total Depreciation and Amortization (D&A)		 48 38 39 42 44 45 44 50 56 61 65
Debt-free, Cash-free Net Working Capital to Revenue		 -55.84% -57.79% -51.43% -49.34% -46.12% -51.60% -47.53% -47.85% -45.38% -49.24% -46.10%
Debt-free Net Working Capital to Revenue		 102.86% 92.28% 89.92% 83.66% 83.77% 80.61% 82.24% 62.50% 65.78% 68.55% 72.83%
Net Working Capital to Revenue		 102.86% 92.28% 89.92% 83.66% 83.77% 80.61% 82.24% 62.50% 13.09% 18.71% 25.45%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 ($0.69) ($0.48) ($0.40) ($0.32) ($0.20) ($0.23) ($0.19) $0.13 ($0.10) ($0.08) ($0.05)
Adjusted Weighted Average Basic Shares Outstanding		 140.90M 143.48M 144.51M 145.35M 144.94M 147.63M 148.95M 150.29M 149.59M 152.56M 153.67M
Adjusted Diluted Earnings per Share		 ($0.69) ($0.48) ($0.40) ($0.32) ($0.20) ($0.23) ($0.19) $0.12 ($0.09) ($0.08) ($0.05)
Adjusted Weighted Average Diluted Shares Outstanding		 140.90M 143.48M 144.51M 145.35M 144.94M 147.63M 148.95M 154.08M 149.59M 152.56M 153.67M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 143.05M 144.21M 145.12M 145.89M 147.17M 148.33M 149.86M 151.15M 152.49M 153.44M 154.72M
Normalized Net Operating Profit after Tax (NOPAT)		 -58 -48 -46 -35 -31 -32 -32 -2.76 -19 -21 -28
Normalized NOPAT Margin		 -18.16% -13.60% -11.78% -8.26% -6.85% -6.49% -6.06% -0.50% -3.18% -3.42% -4.34%
Pre Tax Income Margin		 -29.92% -17.84% -13.87% -9.40% -5.72% -4.93% -3.91% 3.77% -0.86% -0.70% -2.55%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -5.76 -52.55 -48.84 -40.89 -18.00 -14.96 -12.56 -1.43 -7.97 -9.96 -19.27
NOPAT to Interest Expense		 -4.00 -36.33 -34.26 -28.22 -12.50 -10.21 -8.83 -1.00 -5.23 -6.83 -12.01
EBIT Less CapEx to Interest Expense		 -7.72 -77.23 -68.84 -65.90 -31.88 -26.39 -24.01 -19.62 -26.63 -22.52 -34.66
NOPAT Less CapEx to Interest Expense		 -5.96 -61.01 -54.26 -53.22 -26.39 -21.63 -20.28 -19.19 -23.89 -19.38 -27.41
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Frequently Asked Questions About Zscaler's Financials

When does Zscaler's financial year end?

According to the most recent income statement we have on file, Zscaler's fiscal year ends in July. Their fiscal year 2024 ended on July 31, 2024.

How has Zscaler's net income changed over the last 8 years?

Zscaler's net income appears to be on an upward trend, with a most recent value of -$57.71 million in 2024, rising from -$27.44 million in 2016. The previous period was -$202.34 million in 2023.

What is Zscaler's operating income?
Zscaler's total operating income in 2024 was -$121.48 million, based on the following breakdown:
  • Total Gross Profit: $1.69 billion
  • Total Operating Expenses: $1.81 billion
How has Zscaler revenue changed over the last 8 years?

Over the last 8 years, Zscaler's total revenue changed from $80.33 million in 2016 to $2.17 billion in 2024, a change of 2,598.8%.

How much debt does Zscaler have?

Zscaler's total liabilities were at $3.43 billion at the end of 2024, a 19.0% increase from 2023, and a 2,478.3% increase since 2017.

How much cash does Zscaler have?

In the past 7 years, Zscaler's cash and equivalents has ranged from $78.48 million in 2019 to $1.42 billion in 2024, and is currently $1.42 billion as of their latest financial filing in 2024.

How has Zscaler's book value per share changed over the last 8 years?

Over the last 8 years, Zscaler's book value per share changed from 0.00 in 2016 to 8.43 in 2024, a change of 842.9%.

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This page (NASDAQ:ZS) was last updated on 4/14/2025 by MarketBeat.com Staff
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