Zscaler (ZS) Financials

$248.72 -3.23 (-1.28%)

Closing price 04:00 PM Eastern

Extended Trading

$248.70 -0.02 (-0.01%)

As of 05:52 PM Eastern

Annual Income Statements for Zscaler

This table shows Zscaler's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	7/31/2024	7/31/2023	7/31/2022	7/31/2021	7/31/2020	7/31/2019	7/31/2018	7/31/2017	7/31/2016
Net Income / (Loss) Attributable to Common Shareholders	-58	-202	-390	-262	-115	-29	-40	-45	-36
Consolidated Net Income / (Loss)	-58	-202	-390	-262	-115	-29	-34	-35	-27
Net Income / (Loss) Continuing Operations	-58	-202	-390	-262	-115	-29	-34	-35	-27
Total Pre-Tax Income	-29	-183	-384	-257	-113	-28	-32	-35	-27
Total Operating Income	-121	-235	-327	-208	-114	-35	-35	-35	-27
Total Gross Profit	1,691	1,254	849	523	336	243	152	98	60
Total Revenue	2,168	1,617	1,091	673	431	303	190	126	80
Operating Revenue	2,168	1,617	1,091	673	431	303	190	126	80
Total Cost of Revenue	477	363	242	150	96	60	38	27	20
Operating Cost of Revenue	477	363	242	150	96	60	38	27	20
Total Operating Expenses	1,812	1,489	1,176	731	449	278	187	133	87
Selling, General & Admin Expense	212	178	152	97	74	47	31	21	9.40
Marketing Expense	1,100	954	735	459	278	170	116	79	57
Research & Development Expense	500	350	289	175	98	62	39	34	21
Restructuring Charge	0.00	7.60	0.00	0.00	-	-	-	-	-
Total Other Income / (Expense), net	92	52	-56	-49	1.23	7.40	2.32	0.49	-0.13
Interest Expense	13	6.54	57	53	5.03	0.00	0.00	-0.60	-0.29
Interest & Investment Income	109	60	4.59	2.81	6.48	7.73	2.24	-	-
Other Income / (Expense), net	-3.75	-1.86	-4.21	1.19	-0.22	-0.33	0.08	-0.11	-0.42
Income Tax Expense	28	20	6.65	4.85	2.39	0.74	1.34	0.88	0.47
Basic Earnings per Share	($0.39)	($1.40)	($2.77)	($1.93)	($0.89)	($0.23)	($0.63)	($1.54)	($1.36)
Weighted Average Basic Shares Outstanding	149.59M	144.94M	140.90M	135.65M	129.32M	123.57M	63.88M	29.22M	26.52M
Diluted Earnings per Share	($0.39)	($1.40)	($2.77)	($1.93)	($0.89)	($0.23)	($0.63)	($1.54)	($1.36)
Weighted Average Diluted Shares Outstanding	149.59M	144.94M	140.90M	135.65M	129.32M	123.57M	63.88M	29.22M	26.52M
Weighted Average Basic & Diluted Shares Outstanding	152.49M	147.17M	143.05M	138.74M	129.32M	123.57M	63.88M	29.22M	26.52M

This table shows Zscaler's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Income / (Loss) Attributable to Common Shareholders	-7.72	-12	-15	19	-28	-33	-31	-46	-57	-68	-98
Consolidated Net Income / (Loss)	-7.72	-12	-15	19	-28	-33	-31	-46	-57	-68	-98
Net Income / (Loss) Continuing Operations	-7.72	-12	-15	19	-28	-33	-31	-46	-57	-68	-98
Total Pre-Tax Income	-17	-4.41	-5.10	21	-21	-24	-26	-39	-54	-63	-95
Total Operating Income	-40	-31	-27	-3.01	-45	-46	-45	-56	-65	-69	-83
Total Gross Profit	499	486	463	435	408	385	352	323	300	279	250
Total Revenue	648	628	593	553	525	497	455	419	388	356	318
Operating Revenue	648	628	593	553	525	497	455	419	388	356	318
Total Cost of Revenue	148	141	130	118	117	111	103	96	88	77	68
Operating Cost of Revenue	148	141	130	118	117	111	103	96	88	77	68
Total Operating Expenses	540	517	490	438	453	431	397	379	365	348	332
Selling, General & Admin Expense	61	57	56	50	55	51	46	43	44	44	40
Marketing Expense	308	306	294	262	276	267	253	236	236	229	214
Research & Development Expense	171	154	139	125	122	114	96	93	86	75	78
Total Other Income / (Expense), net	24	26	22	24	25	22	19	16	11	5.67	-13
Interest Expense	2.34	3.14	3.60	2.76	3.61	3.16	2.49	1.38	1.33	1.33	14
Interest & Investment Income	31	30	27	28	28	26	21	19	13	7.87	2.61
Other Income / (Expense), net	-4.94	-0.65	-1.78	-0.93	0.17	-1.21	-0.33	-0.81	0.14	-0.86	-0.77
Income Tax Expense	-8.81	7.64	9.77	1.74	7.96	9.00	4.65	6.69	3.69	4.75	2.50
Basic Earnings per Share	($0.05)	($0.08)	($0.10)	$0.13	($0.19)	($0.23)	($0.20)	($0.32)	($0.40)	($0.48)	($0.69)
Weighted Average Basic Shares Outstanding	153.67M	152.56M	149.59M	150.29M	148.95M	147.63M	144.94M	145.35M	144.51M	143.48M	140.90M
Diluted Earnings per Share	($0.05)	($0.08)	($0.09)	$0.12	($0.19)	($0.23)	($0.20)	($0.32)	($0.40)	($0.48)	($0.69)
Weighted Average Diluted Shares Outstanding	153.67M	152.56M	149.59M	154.08M	148.95M	147.63M	144.94M	145.35M	144.51M	143.48M	140.90M
Weighted Average Basic & Diluted Shares Outstanding	154.72M	153.44M	152.49M	151.15M	149.86M	148.33M	147.17M	145.89M	145.12M	144.21M	143.05M

This table details how cash moves in and out of Zscaler's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2019	2018	2017	2016
Period end date	7/31/2024	7/31/2023	7/31/2022	7/31/2021	7/31/2019	7/31/2018	7/31/2017	7/31/2016
Net Change in Cash & Equivalents	161	249	737	134	-58	48	-4.70	9.00
Net Cash From Operating Activities	780	462	322	202	58	17	-6.02	-12
Net Cash From Continuing Operating Activities	780	462	322	202	58	17	-6.02	-12
Net Income / (Loss) Continuing Operations	-58	-202	-390	-262	-29	-34	-35	-27
Consolidated Net Income / (Loss)	-58	-202	-390	-262	-29	-34	-35	-27
Depreciation Expense	66	56	40	30	10	7.99	6.84	4.87
Amortization Expense	130	107	139	111	17	13	8.47	5.52
Non-Cash Adjustments To Reconcile Net Income	580	476	434	280	47	-23	-12	-9.94
Changes in Operating Assets and Liabilities, net	61	26	98	43	12	53	26	15
Net Cash From Investing Activities	-683	-259	374	-110	-162	-178	-8.17	-6.65
Net Cash From Continuing Investing Activities	-683	-259	374	-110	-162	-178	-8.17	-6.65
Purchase of Property, Plant & Equipment	-195	-129	-91	-58	-29	-15	-8.17	-6.25
Acquisitions	-375	-16	-25	-41	-13	0.00	0.00	-
Purchase of Investments	-1,293	-1,067	-845	-819	-335	-163	0.00	0.00
Sale and/or Maturity of Investments	1,179	952	1,335	808	215	0.43	0.00	-
Net Cash From Financing Activities	64	46	41	42	46	208	9.50	28
Net Cash From Continuing Financing Activities	64	46	41	42	46	208	9.50	28
Repayment of Debt	-0.04	-0.00	-0.01	0.00	-	-	-	-
Issuance of Common Equity	52	42	35	26	16	206	4.70	0.78
Other Financing Activities, net	12	3.73	6.69	16	30	4.99	2.97	0.99
Cash Interest Paid	1.44	1.44	1.44	1.46	0.00	-	-	-
Cash Income Taxes Paid	23	15	5.61	4.14	1.77	0.87	0.39	0.32

This table details how cash moves in and out of Zscaler's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Net Change in Cash & Equivalents	205	131	164	-179	77	100	-13	18	172	72	418
Net Cash From Operating Activities	179	331	204	173	142	261	136	108	89	128	103
Net Cash From Continuing Operating Activities	179	331	204	173	142	261	136	108	89	128	103
Net Income / (Loss) Continuing Operations	-7.72	-12	-15	19	-28	-33	-31	-46	-57	-68	-98
Consolidated Net Income / (Loss)	-7.72	-12	-15	19	-28	-33	-31	-46	-57	-68	-98
Depreciation Expense	24	21	19	18	15	14	16	15	13	12	11
Amortization Expense	40	39	37	33	29	31	28	27	26	26	37
Non-Cash Adjustments To Reconcile Net Income	189	173	161	127	153	140	131	116	118	111	120
Changes in Operating Assets and Liabilities, net	-66	109	1.10	-23	-26	109	-8.61	-3.31	-10	48	33
Net Cash From Investing Activities	0.52	-202	-74	-360	-86	-163	-180	-91	70	-58	291
Net Cash From Continuing Investing Activities	0.52	-202	-74	-360	-86	-163	-180	-91	70	-58	291
Purchase of Property, Plant & Equipment	-36	-39	-67	-50	-41	-36	-35	-35	-27	-33	-28
Acquisitions	-0.83	0.00	-13	-357	-	-4.38	-	-16	-	0.00	-25
Purchase of Investments	-299	-431	-287	-242	-388	-376	-325	-227	-304	-211	-35
Sale and/or Maturity of Investments	336	269	293	290	343	254	179	186	401	186	380
Net Cash From Financing Activities	25	0.89	35	7.44	21	1.26	31	1.09	13	0.98	24
Net Cash From Continuing Financing Activities	25	0.89	35	7.44	21	1.26	31	1.09	13	0.98	24
Other Financing Activities, net	2.57	0.89	0.96	7.44	2.59	1.26	0.54	1.09	1.12	0.98	0.55
Cash Income Taxes Paid	7.50	9.40	3.69	7.92	6.22	5.29	8.36	3.57	0.01	3.00	1.69

This table presents Zscaler's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric	2024	2023	2022	2021	2020	2019	2018	2017
Period end date	7/31/2024	7/31/2023	7/31/2022	7/31/2021	7/31/2020	7/31/2019	7/31/2018	7/31/2017
Total Assets	4,705	3,608	2,833	2,258	1,833	604	448	183
Total Current Assets	3,397	2,890	2,257	1,848	1,582	496	387	143
Cash & Equivalents	1,423	1,262	1,013	276	142	78	136	88
Short-Term Investments	987	838	718	1,227	1,229	286	163	0.00
Accounts Receivable	737	583	400	257	148	93	62	39
Prepaid Expenses	102	92	39	31	31	17	11	5.41
Other Current Assets	149	116	86	57	32	21	16	10
Plant, Property, & Equipment, net	383	242	161	109	76	41	20	13
Total Noncurrent Assets	925	476	415	301	176	67	41	27
Goodwill	417	89	79	59	30	7.48	0.00	-
Intangible Assets	64	26	32	32	24	8.71	0.00	-
Other Noncurrent Operating Assets	444	361	305	210	122	51	41	27
Total Liabilities & Shareholders' Equity	4,705	3,608	2,833	2,258	1,833	604	448	183
Total Liabilities	3,431	2,883	2,259	1,729	1,349	296	208	133
Total Current Liabilities	3,113	1,536	1,134	720	424	262	183	120
Short-Term Debt	1,142	0.00	-	-	-	-	-	-
Accounts Payable	23	18	26	13	5.23	6.21	4.90	3.76
Accrued Expenses	92	65	46	23	16	13	14	12
Current Deferred Revenue	1,644	1,281	924	571	337	221	141	85
Current Employee Benefit Liabilities	161	137	112	94	49	22	23	12
Other Current Liabilities	51	34	26	20	16	0.00	-	7.97
Total Noncurrent Liabilities	318	1,347	1,125	1,009	925	34	25	13
Noncurrent Deferred Revenue	251	159	97	59	33	30	23	11
Other Noncurrent Operating Liabilities	67	55	59	36	31	3.84	1.36	1.46
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,274	725	573	529	485	309	240	-151
Total Preferred & Common Equity	1,274	725	573	529	485	309	240	-151
Preferred Stock	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Common Equity	1,274	725	573	529	485	309	240	-151
Common Stock	2,427	1,817	1,591	1,131	824	533	439	19
Retained Earnings	-1,148	-1,090	-992	-602	-340	-224	-196	-162
Accumulated Other Comprehensive Income / (Loss)	-4.79	-1.58	-26	-0.65	0.46	0.27	-0.12	0.00

This table presents Zscaler's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric	Q2 2025	Q1 2025	Q3 2024	Q2 2024	Q1 2024	Q3 2023	Q2 2023	Q1 2023	Q3 2022
Period end date	1/31/2025	10/31/2024	4/30/2024	1/31/2024	10/31/2023	4/30/2023	1/31/2023	10/31/2022	4/30/2022
Total Assets	5,006	4,709	4,199	3,934	3,636	3,201	3,040	2,836	2,525
Total Current Assets	3,665	3,394	2,970	3,143	2,892	2,527	2,416	2,233	2,047
Cash & Equivalents	1,759	1,554	1,259	1,439	1,362	1,275	1,257	1,085	595
Short-Term Investments	1,122	1,154	981	1,021	963	693	648	740	1,063
Accounts Receivable	514	425	506	480	367	376	359	269	272
Prepaid Expenses	115	109	89	78	81	79	56	50	41
Other Current Assets	156	152	135	126	119	104	96	90	76
Plant, Property, & Equipment, net	422	409	331	294	266	223	200	183	142
Total Noncurrent Assets	918	906	898	497	478	451	423	419	336
Goodwill	418	417	417	92	92	89	79	79	60
Intangible Assets	56	60	69	23	26	29	27	29	27
Other Noncurrent Operating Assets	445	430	412	382	360	333	318	311	249
Total Liabilities & Shareholders' Equity	5,006	4,709	4,199	3,934	3,636	3,201	3,040	2,836	2,525
Total Liabilities	3,399	3,280	3,106	2,975	2,828	2,599	2,511	2,404	1,993
Total Current Liabilities	3,049	2,964	1,701	1,584	1,474	1,289	1,204	1,111	913
Short-Term Debt	1,148	1,146	-	-	-	-	-	-	-
Accounts Payable	25	25	28	17	23	25	34	30	15
Accrued Expenses	91	83	83	68	71	51	44	60	43
Current Deferred Revenue	1,596	1,533	1,377	1,316	1,245	1,059	1,000	913	732
Current Employee Benefit Liabilities	140	126	163	137	98	123	97	80	103
Other Current Liabilities	50	50	51	45	38	31	29	29	20
Total Noncurrent Liabilities	350	317	1,404	1,391	1,354	1,310	1,307	1,293	1,080
Noncurrent Deferred Revenue	283	251	200	186	155	116	112	93	87
Other Noncurrent Operating Liabilities	67	66	66	65	65	53	55	61	39
Commitments & Contingencies	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Total Equity & Noncontrolling Interests	1,607	1,429	1,093	959	808	601	529	431	532
Total Preferred & Common Equity	1,607	1,429	1,093	959	808	601	529	431	532
Preferred Stock	0.00	0.00	-	-	-	-	-	-	-
Total Common Equity	1,607	1,429	1,093	959	808	601	529	431	532
Common Stock	2,798	2,593	2,242	2,114	1,949	1,661	1,547	1,425	1,450
Retained Earnings	-1,168	-1,160	-1,133	-1,152	-1,124	-1,060	-1,014	-956	-894
Accumulated Other Comprehensive Income / (Loss)	-22	-4.49	-16	-3.01	-18	-0.10	-5.04	-38	-24

This table displays calculated financial ratios and metrics derived from Zscaler's official financial filings.

Metric	2024	2023	2022	2021	2020	2019	2018	2017	2016
Period end date	7/31/2024	7/31/2023	7/31/2022	7/31/2021	7/31/2020	7/31/2019	7/31/2018	7/31/2017	7/31/2016
Growth Metrics	-	-	-	-	-	-	-	-	-
Revenue Growth	34.07%	48.22%	62.08%	56.07%	42.41%	59.24%	51.27%	56.51%	0.00%
EBITDA Growth	196.00%	51.53%	-130.28%	-4.38%	-703.52%	82.39%	32.67%	-17.75%	0.00%
EBIT Growth	47.05%	28.69%	-60.50%	-80.97%	-220.35%	-6.35%	1.81%	-29.06%	0.00%
NOPAT Growth	48.22%	28.34%	-57.56%	-82.36%	-222.70%	-2.53%	1.28%	-30.66%	0.00%
Net Income Growth	71.48%	48.16%	-48.94%	-127.62%	-301.73%	29.67%	5.12%	-29.24%	0.00%
EPS Growth	72.14%	49.46%	-43.52%	-116.85%	-286.96%	126.98%	59.09%	-13.24%	0.00%
Operating Cash Flow Growth	68.67%	43.62%	59.33%	154.72%	36.69%	235.28%	387.54%	49.49%	0.00%
Free Cash Flow Firm Growth	-195.38%	-12.69%	8.70%	2.01%	-314.82%	-114.52%	-129.99%	0.00%	0.00%
Invested Capital Growth	102.79%	-27.25%	-214.98%	-149.16%	56.98%	7.60%	-52.85%	0.00%	0.00%
Revenue Q/Q Growth	6.79%	9.25%	12.47%	11.83%	10.16%	21.94%	0.00%	0.00%	0.00%
EBITDA Q/Q Growth	67.06%	32.04%	-4.92%	-4.19%	-68.85%	19.83%	0.00%	0.00%	0.00%
EBIT Q/Q Growth	11.42%	13.98%	-5.15%	-11.87%	-47.87%	-1.80%	0.00%	0.00%	0.00%
NOPAT Q/Q Growth	12.66%	13.93%	-4.85%	-12.15%	-47.99%	-0.04%	0.00%	0.00%	0.00%
Net Income Q/Q Growth	21.49%	24.87%	-4.45%	-13.65%	-62.49%	11.11%	0.00%	0.00%	0.00%
EPS Q/Q Growth	22.00%	25.93%	-3.75%	-12.21%	-61.82%	-966.67%	0.00%	0.00%	0.00%
Operating Cash Flow Q/Q Growth	9.49%	7.64%	22.16%	6.93%	21.09%	11.54%	1,734.28%	0.00%	0.00%
Free Cash Flow Firm Q/Q Growth	-5.80%	17.33%	5.82%	13.79%	-75.85%	0.00%	0.00%	0.00%	0.00%
Invested Capital Q/Q Growth	173.29%	-6.48%	-10.28%	-1.49%	57.31%	30.44%	0.00%	0.00%	0.00%
Profitability Metrics	-	-	-	-	-	-	-	-	-
Gross Margin	77.99%	77.56%	77.79%	77.67%	77.80%	160.59%	80.08%	78.15%	74.94%
EBITDA Margin	3.26%	-4.55%	-13.93%	-9.80%	-14.66%	-5.19%	-7.03%	-15.80%	-21.00%
Operating Margin	-5.60%	-14.51%	-30.01%	-30.87%	-26.42%	-11.66%	-18.21%	-27.90%	-33.42%
EBIT Margin	-5.78%	-14.63%	-30.40%	-30.70%	-26.48%	-23.54%	-18.16%	-27.98%	-33.94%
Profit (Net Income) Margin	-2.66%	-12.51%	-35.77%	-38.93%	-26.69%	-9.46%	-17.69%	-28.21%	-34.16%
Tax Burden Percent	197.43%	110.83%	101.73%	101.89%	102.12%	205.32%	104.14%	102.54%	101.74%
Interest Burden Percent	23.34%	77.20%	115.68%	124.47%	98.73%	156.62%	93.53%	98.30%	98.94%
Effective Tax Rate	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-5.77%	-31.17%	-70.82%	-51.70%	-29.02%	-20.89%	-23.20%	-71.15%	0.00%
Cash Return on Invested Capital (CROIC)	-4,948.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-3.01%	-7.34%	-13.03%	-10.10%	-9.37%	-13.55%	-10.95%	-19.23%	0.00%
Return on Assets (ROA)	-1.39%	-6.28%	-15.33%	-12.81%	-9.45%	-5.45%	-10.67%	-19.39%	0.00%
Return on Common Equity (ROCE)	-5.77%	-31.17%	-70.82%	-51.70%	-29.02%	-20.89%	-7.13%	215.80%	0.00%
Return on Equity Simple (ROE_SIMPLE)	-4.53%	-27.90%	-68.08%	-49.54%	-23.74%	-9.29%	-14.01%	23.46%	0.00%
Net Operating Profit after Tax (NOPAT)	-85	-164	-229	-145	-80	-25	-24	-25	-19
NOPAT Margin	-3.92%	-10.16%	-21.01%	-21.61%	-18.50%	-8.16%	-12.74%	-19.53%	-23.39%
Net Nonoperating Expense Percent (NNEP)	2.45%	-4.41%	-23.83%	-21.23%	-8.09%	-2.30%	-4.87%	-24.80%	0.00%
Cost of Revenue to Revenue	22.01%	22.44%	22.21%	22.33%	22.20%	39.41%	19.92%	21.85%	25.06%
SG&A Expenses to Revenue	9.78%	10.98%	13.91%	14.34%	17.07%	30.77%	16.37%	16.32%	11.70%
R&D to Revenue	23.06%	21.63%	26.50%	25.95%	22.70%	40.93%	20.71%	26.70%	26.07%
Operating Expenses to Revenue	83.59%	92.07%	107.80%	108.54%	104.23%	183.91%	98.29%	106.05%	108.36%
Earnings before Interest and Taxes (EBIT)	-125	-236	-332	-207	-114	-36	-35	-35	-27
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	71	-74	-152	-66	-63	-7.87	-13	-20	-17
Valuation Ratios	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	21.28	32.27	38.37	61.10	34.96	34.32	17.58	0.00	0.00
Price to Tangible Book Value (P/TBV)	34.17	38.35	47.52	73.82	39.35	36.22	17.58	0.00	0.00
Price to Revenue (P/Rev)	12.51	14.47	20.16	48.01	39.30	34.97	22.21	1.53	2.39
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	3,843.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	11.92	13.87	19.46	47.14	38.12	33.76	20.64	2.43	0.00
Enterprise Value to EBITDA (EV/EBITDA)	365.53	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	33.14	48.52	65.96	157.04	207.25	349.37	226.77	0.00	0.00
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	22.44	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-
Debt to Equity	0.90	1.56	1.69	1.73	1.78	0.00	0.00	0.00	0.00
Long-Term Debt to Equity	0.00	1.56	1.69	1.73	1.78	0.00	0.00	0.00	0.00
Financial Leverage	-1.12	-1.33	-1.23	-1.08	-1.10	-2.42	-1.33	-1.77	0.00
Leverage Ratio	4.16	4.96	4.62	4.04	3.07	1.92	2.17	3.67	0.00
Compound Leverage Factor	0.97	3.83	5.34	5.02	3.03	3.00	2.03	3.61	0.00
Debt to Total Capital	47.27%	61.00%	62.82%	63.33%	63.99%	0.00%	0.00%	0.00%	0.00%
Short-Term Debt to Total Capital	47.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	61.00%	62.82%	63.33%	63.99%	0.00%	0.00%	0.00%	0.00%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	403.28%	0.00%
Common Equity to Total Capital	52.73%	39.00%	37.18%	36.67%	36.01%	200.00%	100.00%	-303.28%	0.00%
Debt to EBITDA	16.16	-15.40	-6.38	-13.85	-13.63	0.00	0.00	0.00	0.00
Net Debt to EBITDA	-17.93	13.12	5.02	8.93	8.05	0.00	0.00	0.00	0.00
Long-Term Debt to EBITDA	0.00	-15.40	-6.38	-13.85	-13.63	0.00	0.00	0.00	0.00
Debt to NOPAT	-13.43	-6.91	-4.23	-6.28	-10.80	0.00	0.00	0.00	0.00
Net Debt to NOPAT	14.90	5.88	3.33	4.05	6.38	0.00	0.00	0.00	0.00
Long-Term Debt to NOPAT	0.00	-6.91	-4.23	-6.28	-10.80	0.00	0.00	0.00	0.00
Altman Z-Score	4.84	5.13	5.83	11.44	8.07	43.13	12.31	-0.17	0.00
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	69.29%	403.28%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-
Current Ratio	1.09	1.88	1.99	2.57	3.73	3.79	2.12	1.19	0.00
Quick Ratio	1.01	1.75	1.88	2.44	3.58	3.50	1.97	1.05	0.00
Cash Flow Metrics	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-333	-113	-100	-109	-112	-27	-4.08	14	0.00
Operating Cash Flow to CapEx	400.13%	359.17%	355.39%	346.57%	153.10%	404.62%	114.09%	-73.64%	-190.75%
Free Cash Flow to Firm to Interest Expense	-25.34	-17.22	-1.77	-2.05	-22.23	0.00	0.00	0.00	0.00
Operating Cash Flow to Interest Expense	59.39	70.68	5.69	3.79	15.78	0.00	0.00	0.00	0.00
Operating Cash Flow Less CapEx to Interest Expense	44.54	51.00	4.09	2.69	5.47	0.00	0.00	0.00	0.00
Efficiency Ratios	-	-	-	-	-	-	-	-	-
Asset Turnover	0.52	0.50	0.43	0.33	0.35	1.15	0.60	0.69	0.00
Accounts Receivable Turnover	3.29	3.29	3.32	3.33	3.58	7.82	3.78	3.22	0.00
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.93	8.02	8.10	7.30	7.39	9.96	11.56	9.57	0.00
Accounts Payable Turnover	22.83	16.26	12.52	16.91	16.74	21.50	8.75	7.30	0.00
Days Sales Outstanding (DSO)	111.06	110.88	109.88	109.73	101.95	186.76	96.60	113.38	0.00
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	15.98	22.45	29.15	21.59	21.81	67.92	41.72	50.00	0.00
Cash Conversion Cycle (CCC)	95.07	88.43	80.73	88.14	80.14	118.84	54.88	63.39	0.00
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-
Invested Capital	6.72	-241	-189	-60	-24	-56	-58	-38	0.00
Invested Capital Turnover	-18.51	-7.52	-8.75	-15.98	-10.75	-9.19	-3.94	-6.59	0.00
Increase / (Decrease) in Invested Capital	248	-52	-129	-36	32	2.22	-20	-38	0.00
Enterprise Value (EV)	25,841	22,432	21,235	31,728	16,439	10,225	3,925	305	0.00
Market Capitalization	27,109	23,398	21,997	32,317	16,948	10,590	4,223	192	192
Book Value per Share	$8.43	$4.97	$4.04	$3.86	$3.71	$2.46	$2.01	($5.17)	$0.00
Tangible Book Value per Share	$5.25	$4.18	$3.26	$3.20	$3.30	$2.33	$2.01	($5.17)	$0.00
Total Capital	2,416	1,859	1,542	1,442	1,346	309	240	50	0.00
Total Debt	1,142	1,134	969	914	862	0.00	0.00	0.00	0.00
Total Long-Term Debt	0.00	1,134	969	914	862	0.00	0.00	0.00	0.00
Net Debt	-1,267	-966	-763	-589	-509	-365	-299	-88	0.00
Capital Expenditures (CapEx)	195	129	91	58	52	29	15	8.17	6.25
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-984	-746	-609	-374	-213	-131	-94	-66	0.00
Debt-free Net Working Capital (DFNWC)	1,426	1,354	1,122	1,128	1,158	234	204	22	0.00
Net Working Capital (NWC)	284	1,354	1,122	1,128	1,158	234	204	22	0.00
Net Nonoperating Expense (NNE)	-27	38	161	117	35	3.94	9.41	11	8.65
Net Nonoperating Obligations (NNO)	-1,267	-966	-763	-589	-509	-365	-299	-88	0.00
Total Depreciation and Amortization (D&A)	196	163	180	141	51	28	21	15	10
Debt-free, Cash-free Net Working Capital to Revenue	-45.38%	-46.12%	-55.84%	-55.63%	-49.32%	-43.10%	-49.54%	-52.12%	0.00%
Debt-free Net Working Capital to Revenue	65.78%	83.77%	102.86%	167.60%	268.48%	154.63%	107.44%	17.86%	0.00%
Net Working Capital to Revenue	13.09%	83.77%	102.86%	167.60%	268.48%	154.63%	107.44%	17.86%	0.00%
Earnings Adjustments	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.39)	($1.40)	($2.77)	($1.93)	($0.89)	($0.23)	($0.63)	($1.54)	($1.36)
Adjusted Weighted Average Basic Shares Outstanding	149.59M	144.94M	140.90M	135.65M	132.91M	127.45M	119.77M	29.22M	26.52M
Adjusted Diluted Earnings per Share	($0.39)	($1.40)	($2.77)	($1.93)	($0.89)	($0.23)	($0.63)	($1.54)	($1.36)
Adjusted Weighted Average Diluted Shares Outstanding	149.59M	144.94M	140.90M	135.65M	132.91M	127.45M	119.77M	29.22M	26.52M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	($0.89)	($0.23)	($0.63)	($1.54)	($1.36)
Adjusted Weighted Average Basic & Diluted Shares Outstanding	152.49M	147.17M	143.05M	138.74M	129.32M	123.57M	63.88M	29.22M	26.52M
Normalized Net Operating Profit after Tax (NOPAT)	-85	-159	-229	-145	-80	-25	-24	-25	-19
Normalized NOPAT Margin	-3.92%	-9.83%	-21.01%	-21.61%	-18.50%	-16.33%	-12.74%	-19.53%	-23.39%
Pre Tax Income Margin	-1.35%	-11.29%	-35.16%	-38.21%	-26.14%	-18.43%	-16.99%	-27.51%	-33.58%
Debt Service Ratios	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-9.54	-36.15	-5.86	-3.87	-22.72	0.00	0.00	0.00	0.00
NOPAT to Interest Expense	-6.48	-25.11	-4.05	-2.73	-15.87	0.00	0.00	0.00	0.00
EBIT Less CapEx to Interest Expense	-24.38	-55.83	-7.46	-4.96	-33.03	0.00	0.00	0.00	0.00
NOPAT Less CapEx to Interest Expense	-21.32	-44.79	-5.65	-3.82	-26.18	0.00	0.00	0.00	0.00
Payout Ratios	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	-12.70%	-24.21%	-0.09%	0.00%

This table displays calculated financial ratios and metrics derived from Zscaler's official financial filings.

Metric	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023	Q2 2023	Q1 2023	Q4 2022
Period end date	1/31/2025	10/31/2024	7/31/2024	4/30/2024	1/31/2024	10/31/2023	7/31/2023	4/30/2023	1/31/2023	10/31/2022	7/31/2022
Growth Metrics	-	-	-	-	-	-	-	-	-	-	-
Revenue Growth	23.41%	26.42%	30.30%	32.09%	35.45%	39.70%	43.06%	46.02%	51.66%	54.24%	61.39%
EBITDA Growth	2,511.66%	1,333.84%	3,628.90%	414.54%	96.83%	92.65%	97.80%	65.77%	36.83%	0.82%	-25.12%
EBIT Growth	0.46%	33.74%	35.98%	93.03%	30.43%	32.42%	46.12%	36.17%	23.21%	6.68%	-24.21%
NOPAT Growth	11.70%	33.42%	39.51%	92.92%	30.32%	33.33%	46.02%	35.63%	22.27%	7.10%	-22.45%
Net Income Growth	72.87%	64.01%	51.50%	141.53%	50.45%	50.88%	68.59%	54.59%	42.79%	24.93%	-20.52%
EPS Growth	73.68%	65.22%	55.00%	137.50%	52.50%	52.08%	71.01%	55.56%	43.66%	26.15%	-16.95%
Operating Cash Flow Growth	26.30%	27.04%	49.74%	59.87%	58.77%	103.03%	31.80%	40.43%	85.41%	37.72%	130.55%
Free Cash Flow Firm Growth	-385.66%	-380.18%	-1,406.00%	-1,513.87%	86.30%	23.61%	-71.45%	-70.01%	79.22%	202.11%	738.87%
Invested Capital Growth	65.17%	65.12%	102.79%	95.95%	-52.41%	-50.75%	-27.25%	-31.78%	-67.32%	-99.31%	-214.98%
Revenue Q/Q Growth	3.18%	5.92%	7.17%	5.37%	5.70%	9.16%	8.65%	8.05%	9.01%	11.79%	10.90%
EBITDA Q/Q Growth	-33.12%	6.50%	-40.39%	5,780.61%	65.79%	-204.60%	94.69%	42.83%	20.51%	8.75%	17.47%
EBIT Q/Q Growth	-43.93%	-9.00%	-629.26%	91.30%	4.20%	-5.32%	20.64%	13.12%	6.94%	16.03%	5.98%
NOPAT Q/Q Growth	-30.89%	-13.79%	-583.15%	91.32%	1.30%	-3.38%	20.08%	14.55%	5.57%	16.29%	4.70%
Net Income Q/Q Growth	35.91%	19.00%	-177.80%	167.17%	14.97%	-9.16%	33.38%	19.85%	15.71%	30.20%	3.70%
EPS Q/Q Growth	37.50%	11.11%	-175.00%	163.16%	17.39%	-15.00%	37.50%	20.00%	16.67%	30.43%	4.17%
Operating Cash Flow Q/Q Growth	-45.85%	62.77%	17.38%	22.06%	-45.53%	91.86%	25.32%	21.22%	-30.34%	24.55%	33.53%
Free Cash Flow Firm Q/Q Growth	3.00%	-1.58%	-21.22%	-339.14%	-4.86%	373.50%	31.24%	-68.49%	-36.87%	9.38%	37.82%
Invested Capital Q/Q Growth	6.12%	-2,086.51%	173.29%	97.45%	5.99%	-58.89%	-6.48%	4.18%	7.01%	-34.12%	-10.28%
Profitability Metrics	-	-	-	-	-	-	-	-	-	-	-
Gross Margin	77.08%	77.47%	78.04%	78.61%	77.68%	77.57%	77.43%	77.11%	77.40%	78.43%	78.52%
EBITDA Margin	3.03%	4.68%	4.65%	8.37%	-0.16%	-0.48%	-0.17%	-3.51%	-6.64%	-9.11%	-11.16%
Operating Margin	-6.20%	-4.88%	-4.55%	-0.54%	-8.66%	-9.27%	-9.79%	-13.31%	-16.83%	-19.43%	-25.95%
EBIT Margin	-6.96%	-4.99%	-4.85%	-0.71%	-8.63%	-9.52%	-9.86%	-13.50%	-16.80%	-19.67%	-26.19%
Profit (Net Income) Margin	-1.19%	-1.92%	-2.51%	3.46%	-5.42%	-6.74%	-6.74%	-10.99%	-14.82%	-19.17%	-30.70%
Tax Burden Percent	46.71%	273.02%	291.50%	91.65%	138.84%	136.74%	117.86%	116.98%	106.87%	107.48%	102.63%
Interest Burden Percent	36.69%	14.09%	17.76%	-529.59%	45.28%	51.80%	57.99%	69.60%	82.59%	90.66%	114.23%
Effective Tax Rate	0.00%	0.00%	0.00%	8.35%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Invested Capital (ROIC)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
ROIC Less NNEP Spread (ROIC-NNEP)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Net Nonoperating Assets (RNNOA)	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Return on Equity (ROE)	-1.21%	-3.24%	-5.77%	-8.68%	-18.64%	-27.07%	-31.17%	-47.55%	-60.80%	-76.47%	-70.82%
Cash Return on Invested Capital (CROIC)	0.00%	0.00%	-4,948.95%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Operating Return on Assets (OROA)	-3.77%	-2.75%	-2.53%	-0.39%	-4.69%	-5.17%	-4.95%	-6.98%	-8.29%	-9.37%	-11.23%
Return on Assets (ROA)	-0.65%	-1.06%	-1.31%	1.90%	-2.95%	-3.66%	-3.38%	-5.68%	-7.32%	-9.13%	-13.16%
Return on Common Equity (ROCE)	-1.21%	-3.24%	-5.77%	-8.68%	-18.64%	-27.07%	-31.17%	-47.55%	-60.80%	-76.47%	-70.82%
Return on Equity Simple (ROE_SIMPLE)	-0.97%	-2.54%	0.00%	-6.72%	-14.46%	-20.76%	0.00%	-44.79%	-61.41%	-85.24%	0.00%
Net Operating Profit after Tax (NOPAT)	-28	-21	-19	-2.76	-32	-32	-31	-39	-46	-48	-58
NOPAT Margin	-4.34%	-3.42%	-3.18%	-0.50%	-6.06%	-6.49%	-6.85%	-9.32%	-11.78%	-13.60%	-18.16%
Net Nonoperating Expense Percent (NNEP)	1.34%	0.68%	0.36%	2.27%	0.32%	-0.13%	0.06%	-0.92%	-1.63%	-2.95%	-5.90%
Return On Investment Capital (ROIC_SIMPLE)	-1.02%	-	-	-	-1.52%	-	-	-	-	-	-
Cost of Revenue to Revenue	22.92%	22.53%	21.96%	21.39%	22.32%	22.43%	22.57%	22.89%	22.60%	21.57%	21.48%
SG&A Expenses to Revenue	9.39%	9.05%	9.49%	9.12%	10.40%	10.21%	10.19%	10.38%	11.23%	12.42%	12.55%
R&D to Revenue	26.37%	24.56%	23.47%	22.59%	23.27%	22.86%	21.18%	22.12%	22.13%	21.08%	24.57%
Operating Expenses to Revenue	83.28%	82.36%	82.58%	79.15%	86.33%	86.85%	87.22%	90.42%	94.23%	97.86%	104.47%
Earnings before Interest and Taxes (EBIT)	-45	-31	-29	-3.94	-45	-47	-45	-57	-65	-70	-83
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)	20	29	28	46	-0.82	-2.38	-0.78	-15	-26	-32	-35
Valuation Ratios	-	-	-	-	-	-	-	-	-	-	-
Price to Book Value (P/BV)	19.34	19.30	21.28	23.71	36.46	28.92	32.27	21.75	33.87	51.11	38.37
Price to Tangible Book Value (P/TBV)	27.41	28.96	34.17	42.69	41.42	33.87	38.35	27.06	42.29	68.15	47.52
Price to Revenue (P/Rev)	12.83	11.99	12.51	12.77	18.44	13.28	14.47	8.83	13.28	18.13	20.16
Price to Earnings (P/E)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Dividend Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Earnings Yield	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Enterprise Value to Invested Capital (EV/IC)	0.00	0.00	3,843.70	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Revenue (EV/Rev)	12.12	11.31	11.92	12.22	17.75	12.61	13.87	8.28	12.72	17.57	19.46
Enterprise Value to EBITDA (EV/EBITDA)	238.76	253.80	365.53	586.37	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to EBIT (EV/EBIT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to NOPAT (EV/NOPAT)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Enterprise Value to Operating Cash Flow (EV/OCF)	33.06	30.58	33.14	34.84	51.97	37.27	48.52	28.51	43.03	59.81	65.96
Enterprise Value to Free Cash Flow (EV/FCFF)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Leverage & Solvency	-	-	-	-	-	-	-	-	-	-	-
Debt to Equity	0.71	0.80	0.90	1.04	1.19	1.40	1.56	1.90	2.16	2.64	1.69
Long-Term Debt to Equity	0.00	0.00	0.00	1.04	1.19	1.40	1.56	1.90	2.16	2.64	1.69
Financial Leverage	-1.19	-1.23	-1.12	-1.14	-1.40	-1.51	-1.33	-1.35	-1.35	-1.40	-1.23
Leverage Ratio	3.48	3.73	4.16	4.37	4.69	5.22	4.96	5.05	5.11	5.31	4.62
Compound Leverage Factor	1.28	0.53	0.74	-23.13	2.12	2.71	2.88	3.52	4.22	4.82	5.28
Debt to Total Capital	41.65%	44.51%	47.27%	51.00%	54.34%	58.41%	61.00%	65.49%	68.33%	72.54%	62.82%
Short-Term Debt to Total Capital	41.65%	44.51%	47.27%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Long-Term Debt to Total Capital	0.00%	0.00%	0.00%	51.00%	54.34%	58.41%	61.00%	65.49%	68.33%	72.54%	62.82%
Preferred Equity to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Noncontrolling Interests to Total Capital	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Common Equity to Total Capital	58.35%	55.49%	52.73%	49.00%	45.66%	41.59%	39.00%	34.51%	31.67%	27.46%	37.18%
Debt to EBITDA	9.33	11.18	16.16	26.88	-61.02	-25.99	-15.40	-10.53	-8.35	-7.51	-6.38
Net Debt to EBITDA	-14.09	-15.24	-17.93	-26.05	70.53	27.28	13.12	7.64	5.60	4.52	5.02
Long-Term Debt to EBITDA	0.00	0.00	0.00	26.88	-61.02	-25.99	-15.40	-10.53	-8.35	-7.51	-6.38
Debt to NOPAT	-16.27	-15.43	-13.43	-11.69	-8.50	-7.66	-6.91	-5.98	-5.37	-5.05	-4.23
Net Debt to NOPAT	24.56	21.04	14.90	11.32	9.82	8.04	5.88	4.34	3.60	3.04	3.33
Long-Term Debt to NOPAT	0.00	0.00	0.00	-11.69	-8.50	-7.66	-6.91	-5.98	-5.37	-5.05	-4.23
Altman Z-Score	5.76	5.27	4.91	5.47	7.56	5.43	5.30	3.42	4.66	5.85	6.11
Noncontrolling Interest Sharing Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Liquidity Ratios	-	-	-	-	-	-	-	-	-	-	-
Current Ratio	1.20	1.15	1.09	1.75	1.98	1.96	1.88	1.96	2.01	2.01	1.99
Quick Ratio	1.11	1.06	1.01	1.61	1.86	1.83	1.75	1.82	1.88	1.88	1.88
Cash Flow Metrics	-	-	-	-	-	-	-	-	-	-	-
Free Cash Flow to Firm (FCFF)	-263	-271	-267	-220	92	97	20	16	49	78	71
Operating Cash Flow to CapEx	498.36%	839.80%	302.74%	344.84%	344.15%	722.69%	392.48%	313.65%	335.60%	391.12%	363.58%
Free Cash Flow to Firm to Interest Expense	-112.29	-86.15	-73.96	-79.55	25.51	30.59	8.18	11.25	37.03	58.74	4.94
Operating Cash Flow to Interest Expense	76.71	105.42	56.48	62.74	39.41	82.56	54.51	78.43	67.13	96.51	7.13
Operating Cash Flow Less CapEx to Interest Expense	61.32	92.87	37.82	44.55	27.96	71.14	40.62	53.42	47.13	71.84	5.17
Efficiency Ratios	-	-	-	-	-	-	-	-	-	-	-
Asset Turnover	0.54	0.55	0.52	0.55	0.54	0.54	0.50	0.52	0.49	0.48	0.43
Accounts Receivable Turnover	4.87	5.81	3.29	4.60	4.52	5.53	3.29	4.56	4.29	5.52	3.32
Inventory Turnover	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Fixed Asset Turnover	6.76	6.82	6.93	7.34	7.66	7.83	8.02	8.12	8.38	8.20	8.10
Accounts Payable Turnover	25.80	20.87	22.83	17.03	16.83	15.02	16.26	16.42	12.59	11.94	12.52
Days Sales Outstanding (DSO)	74.90	62.82	111.06	79.35	80.70	65.97	110.88	79.96	85.03	66.15	109.88
Days Inventory Outstanding (DIO)	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Days Payable Outstanding (DPO)	14.15	17.49	15.98	21.44	21.69	24.31	22.45	22.23	29.00	30.56	29.15
Cash Conversion Cycle (CCC)	60.75	45.34	95.07	57.92	59.01	41.67	88.43	57.72	56.03	35.59	80.73
Capital & Investment Metrics	-	-	-	-	-	-	-	-	-	-	-
Invested Capital	-125	-134	6.72	-9.17	-360	-383	-241	-226	-236	-254	-189
Invested Capital Turnover	-9.98	-8.90	-18.51	-17.24	-6.36	-5.52	-7.52	-7.44	-7.15	-6.38	-8.75
Increase / (Decrease) in Invested Capital	235	249	248	217	-124	-129	-52	-55	-95	-127	-129
Enterprise Value (EV)	29,352	26,007	25,841	24,814	33,639	22,164	22,432	12,248	17,141	21,359	21,235
Market Capitalization	31,085	27,569	27,109	25,916	34,958	23,354	23,398	13,075	17,905	22,044	21,997
Book Value per Share	$10.48	$9.37	$8.43	$7.29	$6.46	$5.49	$4.97	$4.14	$3.67	$3.01	$4.04
Tangible Book Value per Share	$7.39	$6.24	$5.25	$4.05	$5.69	$4.69	$4.18	$3.33	$2.94	$2.26	$3.26
Total Capital	2,755	2,574	2,416	2,231	2,100	1,942	1,859	1,742	1,669	1,571	1,542
Total Debt	1,148	1,146	1,142	1,138	1,141	1,134	1,134	1,141	1,141	1,140	969
Total Long-Term Debt	0.00	0.00	0.00	1,138	1,141	1,134	1,134	1,141	1,141	1,140	969
Net Debt	-1,733	-1,562	-1,267	-1,102	-1,319	-1,190	-966	-828	-765	-685	-763
Capital Expenditures (CapEx)	36	39	67	50	41	36	35	35	27	33	28
Debt-free, Cash-free Net Working Capital (DFCFNWC)	-1,116	-1,132	-984	-971	-901	-907	-746	-730	-693	-703	-609
Debt-free Net Working Capital (DFNWC)	1,764	1,576	1,426	1,269	1,559	1,417	1,354	1,238	1,212	1,122	1,122
Net Working Capital (NWC)	616	430	284	1,269	1,559	1,417	1,354	1,238	1,212	1,122	1,122
Net Nonoperating Expense (NNE)	-20	-9.42	-3.99	-22	-3.35	1.24	-0.51	7.02	12	20	40
Net Nonoperating Obligations (NNO)	-1,733	-1,562	-1,267	-1,102	-1,319	-1,190	-966	-828	-765	-685	-763
Total Depreciation and Amortization (D&A)	65	61	56	50	44	45	44	42	39	38	48
Debt-free, Cash-free Net Working Capital to Revenue	-46.10%	-49.24%	-45.38%	-47.85%	-47.53%	-51.60%	-46.12%	-49.34%	-51.43%	-57.79%	-55.84%
Debt-free Net Working Capital to Revenue	72.83%	68.55%	65.78%	62.50%	82.24%	80.61%	83.77%	83.66%	89.92%	92.28%	102.86%
Net Working Capital to Revenue	25.45%	18.71%	13.09%	62.50%	82.24%	80.61%	83.77%	83.66%	89.92%	92.28%	102.86%
Earnings Adjustments	-	-	-	-	-	-	-	-	-	-	-
Adjusted Basic Earnings per Share	($0.05)	($0.08)	($0.10)	$0.13	($0.19)	($0.23)	($0.20)	($0.32)	($0.40)	($0.48)	($0.69)
Adjusted Weighted Average Basic Shares Outstanding	153.67M	152.56M	149.59M	150.29M	148.95M	147.63M	144.94M	145.35M	144.51M	143.48M	140.90M
Adjusted Diluted Earnings per Share	($0.05)	($0.08)	($0.09)	$0.12	($0.19)	($0.23)	($0.20)	($0.32)	($0.40)	($0.48)	($0.69)
Adjusted Weighted Average Diluted Shares Outstanding	153.67M	152.56M	149.59M	154.08M	148.95M	147.63M	144.94M	145.35M	144.51M	143.48M	140.90M
Adjusted Basic & Diluted Earnings per Share	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00	$0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding	154.72M	153.44M	152.49M	151.15M	149.86M	148.33M	147.17M	145.89M	145.12M	144.21M	143.05M
Normalized Net Operating Profit after Tax (NOPAT)	-28	-21	-19	-2.76	-32	-32	-31	-35	-46	-48	-58
Normalized NOPAT Margin	-4.34%	-3.42%	-3.18%	-0.50%	-6.06%	-6.49%	-6.85%	-8.26%	-11.78%	-13.60%	-18.16%
Pre Tax Income Margin	-2.55%	-0.70%	-0.86%	3.77%	-3.91%	-4.93%	-5.72%	-9.40%	-13.87%	-17.84%	-29.92%
Debt Service Ratios	-	-	-	-	-	-	-	-	-	-	-
EBIT to Interest Expense	-19.27	-9.96	-7.97	-1.43	-12.56	-14.96	-18.00	-40.89	-48.84	-52.55	-5.76
NOPAT to Interest Expense	-12.01	-6.83	-5.23	-1.00	-8.83	-10.21	-12.50	-28.22	-34.26	-36.33	-4.00
EBIT Less CapEx to Interest Expense	-34.66	-22.52	-26.63	-19.62	-24.01	-26.39	-31.88	-65.90	-68.84	-77.23	-7.72
NOPAT Less CapEx to Interest Expense	-27.41	-19.38	-23.89	-19.19	-20.28	-21.63	-26.39	-53.22	-54.26	-61.01	-5.96
Payout Ratios	-	-	-	-	-	-	-	-	-	-	-
Dividend Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
Augmented Payout Ratio	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions About Zscaler's Financials

When does Zscaler's financial year end?

According to the most recent income statement we have on file, Zscaler's fiscal year ends in July. Their fiscal year 2024 ended on July 31, 2024.

How has Zscaler's net income changed over the last 8 years?

Zscaler's net income appears to be on an upward trend, with a most recent value of -$57.71 million in 2024, rising from -$27.44 million in 2016. The previous period was -$202.34 million in 2023. See where experts think Zscaler is headed by visiting Zscaler's forecast page.

What is Zscaler's operating income?

Zscaler's total operating income in 2024 was -$121.48 million, based on the following breakdown:

Total Gross Profit: $1.69 billion
Total Operating Expenses: $1.81 billion

How has Zscaler revenue changed over the last 8 years?

Over the last 8 years, Zscaler's total revenue changed from $80.33 million in 2016 to $2.17 billion in 2024, a change of 2,598.8%.

How much debt does Zscaler have?

Zscaler's total liabilities were at $3.43 billion at the end of 2024, a 19.0% increase from 2023, and a 2,478.3% increase since 2017.

How much cash does Zscaler have?

In the past 7 years, Zscaler's cash and equivalents has ranged from $78.48 million in 2019 to $1.42 billion in 2024, and is currently $1.42 billion as of their latest financial filing in 2024.

How has Zscaler's book value per share changed over the last 8 years?

Over the last 8 years, Zscaler's book value per share changed from 0.00 in 2016 to 8.43 in 2024, a change of 842.9%.

Related Companies

This page (NASDAQ:ZS) was last updated on 5/21/2025 by MarketBeat.com Staff

From Our Partners

Get 30 Days of MarketBeat All Access for Free

Start Your 30-Day Trial

In-depth profiles and analysis for 20,000 public companies.
Real-time analyst ratings, insider transactions, earnings data, and more.
Our daily ratings and market update email newsletter.

Sign In
Create Account

Your Email Address:

Your Password:

Forgot your password?

Your Email Address:

Choose a Password:

By creating a free account, you agree to our terms of service. This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Zscaler (ZS) Financials

Frequently Asked Questions About Zscaler's Financials

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools

About MarketBeat

MarketBeat Products

Popular Tools

Financial Calendars

Terms & Info

Zscaler (ZS) Financials

Annual Income Statements for Zscaler

Quarterly Income Statements for Zscaler

Annual Cash Flow Statements for Zscaler

Quarterly Cash Flow Statements for Zscaler

Annual Balance Sheets for Zscaler

Quarterly Balance Sheets for Zscaler

Annual Metrics And Ratios for Zscaler

Quarterly Metrics And Ratios for Zscaler

Frequently Asked Questions About Zscaler's Financials

MarketBeat All Access Features

Best-in-Class Portfolio Monitoring

Stock Ideas and Recommendations

Advanced Stock Screeners and Research Tools