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Zscaler ZS Free cash flow yield

Free cash flow yield at other companies

Cisco Systems, Inc. logo
Cisco Systems, Inc.CSCO
3.3%-2.5pp
Fortinet logo
FortinetFTNT
4%+1.2pp
Cloudflare, Inc. logo
Cloudflare, Inc.NET
0.4%-0.1pp
CrowdStrike Holdings, Inc. logo
CrowdStrike Holdings, Inc.CRWD
1.3%+0.3pp
Broadcom Inc. logo
Broadcom Inc.AVGO
1.5%-0.5pp
Akamai Technologies logo
Akamai TechnologiesAKAM
6.5%-1.8pp

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 trailing twelve months.

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 free cash flow yield?
Zscaler (ZS) reported free cash flow yield of 4.6% in Q1 2026.
How has Zscaler's free cash flow yield changed year-over-year?
Zscaler's free cash flow yield increased by 93.2% year-over-year, from 2.4% to 4.6%.
What is the long-term trend for Zscaler's free cash flow yield?
Over 4 years (2021 to 2025), Zscaler's free cash flow yield has grown at a 53.6% compound annual growth rate (CAGR), from 1.7% to 9.3%.
What does free cash flow yield mean?
The spendable cash the business throws off each year as a percentage of its market price.
How do you interpret free cash flow yield?
Higher yield can mean better value — you pay less for each dollar of cash generated. A useful sanity check against earnings-based multiples, which non-cash items can distort.
How does free cash flow yield compare across companies?
Comparable across cash-generative companies; less meaningful for firms in heavy-investment phases with temporarily negative FCF.