What are Zscaler's profit margins?

Zscaler (ZS) runs a 76.7% gross margin and a -4.7% operating margin, with a -2.4% net margin.

Where do Zscaler's ratios come from?

Every ratio is computed from Zscaler'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.

Zscaler ZS Ratios & Valuation

Income Statement Balance Sheet Cash Flow Ratios Segments

Quarterly Annual TTM

YoY

Simplified Detailed

	FY'25	FY'24	FY'23	FY'22
Profitability
Gross margin	310%-0.7pp	310.7%-0.7pp	311.4%+1.3pp	310.1%+0.3pp
Operating margin	-18.4%+16.2pp	-34.6%+47.3pp	-81.9%+43.1pp	-125%-4.4pp
Net margin	-5.3%+17.8pp	-23.1%+61.9pp	-85%+66.9pp	-151.9%-7.1pp
EBITDA margin	-13.9%+18.2pp	-32%+47.0pp	-79.1%+42.3pp	-121.4%-4.6pp
Free cash flow margin	123.6%+8.9pp	114.7%+24.4pp	90.2%-3.9pp	94.2%+17.5pp
Returns
Return on equity	-9.8%+50.3pp	-60.2%+156pp	-216%+48.4pp	-264.4%-73.5pp
Return on assets	-2.8%+9.8pp	-12.5%+29.4pp	-42%+19.2pp	-61.1%-5.1pp
Return on invested capital	-45.8%+50.6pp	-96.4%+52.6pp	-149.1%-44.6pp	-104.4%-27.3pp
Efficiency
Asset turnover	2.1×0.0×	2.2×+0.2×	2×+0.4×	1.6×+0.1×
Liquidity
Current ratio	5.6×-1.2×	6.8×-1.1×	7.9×-1.3×	9.2×-3.5×
Quick ratio	5.6×-1.2×	6.8×-1.1×	7.9×-1.3×	9.2×-3.5×
Cash ratio	2.7×-0.3×	3×-0.8×	3.8×+1.3×	2.6×+1.5×
Leverage
Debt-to-equity	3.3×-1.6×	4.9×-3.9×	8.8×+1.4×	7.4×-0.1×
Debt-to-assets	1×-0.2×	1.2×-0.3×	1.5×-0.1×	1.6×-0.3×
Interest coverage	-41.2×+22.9×	-64.1×+3.5×	-67.6×-46.9×	-20.7×+0.1×
Per Share
Book value per share	$43.13+56.7%	$27.52+74.1%	$15.80+2.1%	$15.47+2.9%
Valuation
Market capitalization	$135.45B+21.5%	$111.45B+45.3%	$76.72B-41.6%	$131.28B+23.5%
Enterprise value	$133.24B+20.2%	$110.89B+44.6%	$76.7B-42.3%	$132.91B+21.3%
Price / sales	54.1×-2.9×	57.1×+2.2×	54.9×-95.3×	150.2×-34.3×
Price / book	81.2×-29.4×	110.6×-28.8×	139.4×-104×	243.2×+34.7×
EV / sales	53.3×-3.5×	56.8×+1.9×	54.9×-97.3×	152.2×-38.1×
Free cash flow yield	9.3%+1.0pp	8.3%+1.2pp	7.1%+4.2pp	2.9%+1.2pp
Earnings yield	-0.4%+1.2pp	-1.6%+4.8pp	-6.4%-1.7pp	-4.7%-1.5pp

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Questions, answered.

What are Zscaler's profit margins?: Zscaler (ZS) runs a 76.7% gross margin and a -4.7% operating margin, with a -2.4% net margin.
Where do Zscaler's ratios come from?: Every ratio is computed from Zscaler'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.