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Zscaler ZS EV / sales

EV / sales at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
6.4×+1.9×
Fortinet logo
FortinetFTNT
8.3×-3.4×
Cloudflare, Inc. logo
Cloudflare, Inc.NET
30.9×+8.9×
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
21.4×-2.5×
Broadcom Inc. logo
Broadcom Inc.AVGO
28.7×+8.2×
Akamai Technologies logo
Akamai TechnologiesAKAM
4.2×+1.2×

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%
CapEx$42.4M-41.2%
Free cash flow$155.6M+12.0%

Valuation

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Market cap$20.19B-35.4%
Enterprise value$20.94B-31.5%
P/S6.4×-5.9×

Profitability

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Gross margin76.7%-0.7pp
Operating margin-4.7%-0.1pp
Net margin-2.4%+3.7pp

Returns & leverage

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Return on equity-3.7%+2.3pp
Debt / equity0.7×+0.1×
Current ratio1.9×+0.6×

Where this comes from

Calculated from Zscaler’s reported figures.

Based on the most recent quarter.

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 EV / sales?
Zscaler (ZS) reported EV / sales of 6.9× in Q1 2026.
How has Zscaler's EV / sales changed year-over-year?
Zscaler's EV / sales decreased by 45.0% year-over-year, from 12.5× to 6.9×.
What is the long-term trend for Zscaler's EV / sales?
Over 4 years (2021 to 2025), Zscaler's EV / sales has grown at a -27.3% compound annual growth rate (CAGR), from 190.3× to 53.3×.
What does EV / sales mean?
What the whole business costs relative to its annual sales.
How do you interpret EV / sales?
A fallback valuation gauge for pre-profit or cyclical firms. Like P/S, only comparable across similar-margin businesses, but it accounts for debt and cash unlike P/S.
How does EV / sales compare across companies?
Compare within a margin cohort; the debt-and-cash adjustment makes it cleaner than P/S for leveraged firms.