Investing
CapEx
Zscaler CapEx increased by 2.6% to $17.76M in Q4 2025 compared to the prior quarter. Year-over-year, this metric grew by 18.2%, from $15.02M to $17.76M. Over 4 years (FY 2021 to FY 2025), CapEx shows an upward trend with a 35.9% CAGR.
Analysis
StatementCash Flow Statement
SectionInvesting
CategoryCapital Allocation
SignalContext dependent
VolatilityModerate
First reportedQ1 2014
Last reportedQ1 2026
How to read this metric
An increase often signals growth initiatives and capacity expansion, while a decrease may suggest cost-cutting or a shift toward asset-light strategies.
Detailed definition
This metric measures the cash outflows used to acquire, upgrade, and maintain physical assets such as property, building...
Peer comparison
Commonly compared as a percentage of revenue; capital-intensive firms like Abbott require consistent investment to remain competitive in medical technology.
Metric ID:
capital_expendituresHistorical Data
20 periods
| Q1 '21 | Q2 '21 | Q3 '21 | Q4 '21 | Q1 '22 | Q2 '22 | Q3 '22 | Q4 '22 | Q1 '23 | Q2 '23 | Q3 '23 | Q4 '23 | Q1 '24 | Q2 '24 | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Value | $14.81M | $13.95M | $6.45M | $13.99M | $27.60M | $21.25M | $25.20M | $18.68M | $26.24M | $27.07M | $28.66M | $30.89M | $35.65M | $49.38M | $17.03M | $15.02M | $72.16M | $60.05M | $17.31M | $17.76M |
| QoQ Change | — | -5.8% | -53.7% | +116.7% | +97.3% | -23.0% | +18.6% | -25.9% | +40.5% | +3.1% | +5.9% | +7.8% | +15.4% | +38.5% | -65.5% | -11.8% | +380.5% | -16.8% | -71.2% | +2.6% |
| YoY Change | — | — | — | — | +86.4% | +52.3% | +290.5% | +33.6% | -4.9% | +27.4% | +13.7% | +65.4% | +35.8% | +82.4% | -40.6% | -51.4% | +102.4% | +21.6% | +1.7% | +18.2% |
Range$6.45M – $72.16M
CAGR+3.9%
Avg YoY Growth+45.9%
Median YoY Growth+30.5%
CapEx at Other Companies
Frequently Asked Questions
- What is Zscaler's capex?
- Zscaler (ZS) reported capex of $17.76M in Q4 2025.
- How has Zscaler's capex changed year-over-year?
- Zscaler's capex increased by 18.2% year-over-year, from $15.02M to $17.76M.
- 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 purchasing or maintaining physical assets like machinery and facilities.