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Zscaler, Inc. ZS Ratios & Valuation

Q4 '26Q3 '26Q2 '26Q1 '26Q4 '25
Profitability
Gross margin76.8%-0.1pp76.7%-0.7pp76.5%-1.2pp76.7%-1.3pp76.9%-1.1pp
Operating margin-4%+0.8pp-4.7%+0.1pp-4.9%-0.7pp-4.7%-0.1pp-4.8%+0.8pp
Net margin-1.9%-0.3pp-2.4%-0.9pp-2.3%-1.6pp-1.4%+0.1pp-1.6%+1.1pp
Returns
Return on equity-2.9%-0.2pp-3.7%-1.0pp-3.6%-2.3pp-2.4%+0.8pp-2.7%+3.1pp
Return on invested capital-8.8%+2.4pp-7.2%+4.4pp-7.6%+3.4pp-7.3%+4.6pp-11.3%+2.5pp
Efficiency
Asset turnover0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×0.5×0.0×
Liquidity
Current ratio1.7×-0.3×1.9×+0.6×1.9×+0.7×1.8×+0.7×2×+0.9×
Leverage
Debt-to-equity0.1×-0.9×0.7×+0.1×0.8×0.0×1×+0.1×1×0.0×
Per Share
Book value per share$16.22+39.2%$14.72+26.4%$13.75+31.5%$12.50+33.5%$11.65+36.8%
Valuation
Market capitalization$35.35B-29.2%$21.01B-35.4%$31.9B+2.6%$52.42B+91.4%$44.46B+64.9%
Price / sales10.5×-8.1×6.6×-6.1×10.6×-2.2×18.5×+6.6×16.6×+4.2×
Price / book13.6×-14.1×8.9×-9.1×14.5×-4.8×26.4×+7.3×24.7×+3.6×

FAQ

What are Zscaler, Inc.'s profit margins?
Zscaler, Inc. (ZS) runs a 76.8% gross margin and a -4.0% operating margin, with a -1.9% net margin.
Where do Zscaler, Inc.'s ratios come from?
Every ratio is computed from Zscaler, Inc.'s SEC filings — trailing-twelve-month flows over period-end balances. Valuation multiples combine those fundamentals with market data, recomputed each period. Switch between quarterly, annual, and TTM, or open any ratio for its full history and peer comparisons.