What is Zscaler's capex?

Zscaler (ZS) reported capex of $42.4M in Q1 2026.

How has Zscaler's capex changed year-over-year?

Zscaler's capex decreased by 41.2% year-over-year, from $72.16M to $42.4M.

What is the long-term trend for Zscaler's capex?

Over 4 years (2021 to 2025), Zscaler's capex has grown at a 35.9% compound annual growth rate (CAGR), from $48.17M to $164.25M.

What does capex mean?

Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.

Zscaler ZS CapEx

CapEx at other companies

Cisco Systems, Inc.CSCO

$414M+58.6%

FortinetFTNT

$70.6M+6.2%

Palo Alto Networks, Inc.PANW

$83M+22.1%

Cloudflare, Inc.NET

$65.23M-24.1%

CrowdStrike Holdings, Inc.CRWD

$97.62M+13.8%

Broadcom Inc.AVGO

$231M+60.4%

Other financials

Income statement

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Revenue$850.5M+25.4%

Gross profit$657.8M+26.0%

Operating income-$29.6M-16.6%

Net income-$13.9M-237%

EPS (diluted)-$0.09-200%

Balance sheet

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Cash & equivalents$982.1M-50.7%

Total debt$1.7B+40.9%

Total equity$2.4B+31.1%

Total assets$7.1B+32.9%

Cash flow

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Operating cash flow$198.0M-6.2%

Free cash flow$155.6M+12.0%

Valuation

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Market cap$22.83B-51.2%

Enterprise value$23.57B-48.9%

P/S7.2×-11.2×

Profitability

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Gross margin76.7%-0.7pp

Operating margin-4.7%-0.1pp

Net margin-2.4%+3.7pp

FCF margin30.4%+0.1pp

Returns & leverage

See full

Return on equity-3.7%+2.3pp

Debt / equity0.7×+0.1×

Current ratio1.9×+0.6×

Where this comes from

Reported directly by Zscaler in its filing.

Tagged under the XBRL concept us-gaap:PaymentsToAcquirePropertyPlantAndEquipment.

The official record: Zscaler’s 10-Q, filed May 26, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Zscaler's capex?: Zscaler (ZS) reported capex of $42.4M in Q1 2026.
How has Zscaler's capex changed year-over-year?: Zscaler's capex decreased by 41.2% year-over-year, from $72.16M to $42.4M.
What is the long-term trend for Zscaler's capex?: Over 4 years (2021 to 2025), Zscaler's capex has grown at a 35.9% compound annual growth rate (CAGR), from $48.17M to $164.25M.
What does capex mean?: Cash spent on property, plant, and equipment — the primary measure of investment in productive capacity and infrastructure.