Technology / Software - InfrastructureUpdated 2026-05-10 22:07 UTC

ZS stock hub

ZS trades against a final fair-value range of $113.67-$226.95, with the midpoint set by the accepted valuation synthesis rather than earlier draft model outputs.

Read full analysis Valuation Archive

Fair value midpoint

$165

$114 - $227

Upside to midpoint

+8.3%

Based on latest report

Confidence

76/100

Data quality and model convergence

Market cap

$24.5B

NASDAQ

Our take

Research highlights

What our analysis says

Pulled from the latest published report. The full reasoning lives under /analysis.

Biggest opportunity

Bull case

Bull: Zero Trust adoption accelerates, keeping revenue growth >20% for longer. Operating leverage kicks in as sales and marketing efficiencies improve, driving operating margins toward the 30% industry benchmark and supporting a premium multiple.

Biggest risk

Platform Bundling Accelerates

12-24 months

Recommended action

Hold

ZS is rated Hold at $152.13 versus the reconciled fair value midpoint of $164.73, implying +8.28% upside/downside. Confidence is separately disclosed at 76/100.

Market data

Live price

Current market quote for this ticker.

Current price

In the news

Latest news · ZS

Recent company headlines from major financial publishers.

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Fetching the latest headlines.

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Fetching the latest headlines.

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Fetching the latest headlines.

Calendar

Next earnings

Upcoming earnings date and setup when available.

Upcoming

DateLoading

Window—

EPS estimate—

Revenue estimate—

Analysis map

Jump into the research surface

These links all point into /analysis/*, so a hub rollback leaves the report reader and legacy redirects live.

Forecast

Targets

Bull, base, and bear cases with expected-return framing.

Valuation

Models

Fair-value bridge, DCF, owner earnings, and peer multiples.

Sensitivity

Grid

Cost-of-equity and terminal-growth stress table.

Risks

Bear case

Kill scenarios, soft-pass flags, and downside catalysts.

Earnings

Decision tree

Next earnings setup and beat / inline / miss thresholds.

Position sizing

Checkpoints

Entry, exit, conviction, and quarterly monitoring rules.

Financials

History

Revenue, margins, cash flow, and balance-sheet context.

Peers

Comps

Relative valuation and profitability against the cohort.

Moat

Durability

Economic-profit evidence and competitive advantage risk.

Industry cycle

Context

Sector phase, capital cycle, and secular tailwinds.

Scorecard

Factors

Six-factor overlay and 9-category weighted scorecard.

Recommendation

Verdict

Final action, action steps, opportunity, and biggest risk.

Perspectives

Lenses

Growth, value, and income investor reads.

Where the current metrics sit

Percentiles come from the backend screener cohort cache for the ticker's country and sector.

Forward P/E33.2

P25 12.5P50 22.3P75 38.6

Trailing P/E0

P25 16.3P50 33.5P75 65.6

ROE-3.6

P25 -30.7P50 1.5P75 14.4

ROIC-2.4

P25 -18.6P50 1.9P75 13.7

Benchmarks - 1M

S&P 500n/a

Nasdaq Compositen/a

Dow Jones Industrial Averagen/a

Russell 2000n/a

Our take

Indicator catalog

All ZS market and fundamental indicators

A searchable catalog of the available market, valuation, profitability, growth, balance-sheet, ownership, and analyst metrics for this ticker.

Available fields

234

Groups with data

Currency

USD

Showing 234 of 234 available metrics for this ticker.

Profile and market data

Ticker identity, listing, currency, market cap, and source dates.

Metric	Value
Cik	0001713683
Company name	Zscaler, Inc.
Country	United States
Country code	US
Cusip	98980G102
Employees	7,923
Employees Change	575%
Employees Change Percent	7.83
Enterprise value	$22.8B
Exchange	NASDAQ
Financial currency	USD
First seen	2026-05-09
In Index	NASDAQ100
Industry	Software - Infrastructure
IPO Date	2018-03-16
Isin	US98980G1022
Last refreshed	2026-05-10
Market cap	$24.5B
Market cap category	Large-Cap
Price	$152
Price currency	USD
Rev Per Employee	378,786.19x
Sector	Technology
Sic	7371
Symbol	ZS
Website	https://www.zscaler.com

Valuation

Multiples, yields, enterprise-value ratios, and valuation checks.

Metric	Value
Earnings Yield	-0.28%
EV Sales Forward	6.11x
EV/FCF	24.1x
EV/Sales	7.6x
FCF yield	3.87%
Forward P/E	35.97x
P/B ratio	11.12x
P/S ratio	8.15x
PEG ratio	1.44x
PS Forward	6.55x

Profitability

Margins, returns on capital, cash conversion, and quality metrics.

Metric	Value
EBIT Margin	-4.42%
EBITDA Margin	-2.27%
FCF margin	31.55%
Gross margin	76.63%
Gross Profit	$2.3B
Gross Profit Growth	21.97%
Gross Profit Growth Q	24.97%
Gross Profit Growth3 Y	29.76%
Gross Profit Growth5 Y	40.83%
Net Income	$-67.6M
Net Income Growth Years	3%
Pretax Margin	-0.9%
Profit Margin	-2.25%
Profit Per Employee	$-8,536
ROA	-1.41
Roa5y	-4.39
ROCE	-3
ROE	-3.56
Roe5y	-32.43
ROIC	-2.4

Growth

Revenue, earnings, cash-flow, and forward growth indicators.

Metric	Value
Cagr1y	-34.88%
Cagr3y	19.36%
Cagr5y	-2.12%
EPS Growth Years	3
FCF Growth	22.85%
FCF Growth Q	13.32%
FCF Growth3 Y	45.78%
FCF Growth5 Y	60.46%
OCF Growth	25.49%
OCF Growth Q	13.73%
OCF Growth3 Y	40.89%
OCF Growth5 Y	52.2%
Revenue Growth	23.92x
Revenue Growth Q	25.91x
Revenue Growth Quarters	32x
Revenue Growth Years	10x
Revenue Growth3 Y	30.58x
Revenue Growth5 Y	41.13x

Financial strength

Debt, cash, solvency, accounting-quality, and balance-sheet signals.

Metric	Value
Asset Turnover	$0.51
Assets	$6.8B
Cash	$3.5B
Current Assets	$4.5B
Current Liabilities	$2.3B
Debt	$1.9B
Debt EBITDA	$44.98
Debt Equity	$0.85
Debt FCF	$1.97
Equity	$2.2B
Interest Coverage	-12.76
Liabilities	$4.6B
Long Term Assets	$2.3B
Long Term Liabilities	$2.2B
Net Cash	$1.6B
Net Cash By Market Cap	$6.73
Net Cash Growth	0.32%
Net Debt Equity	$-0.75
Net Debt FCF	$-1.74
Tangible Book Value	$985.7M
Tangible Book Value Per Share	$6.14
WACC	8.89

Liquidity

Current-asset coverage and working-capital efficiency metrics.

Metric	Value
Current ratio	1.9
Net Working Capital	$-1.3B
Quick ratio	1.75
Working Capital	$2.1B
Working Capital Turnover	$2.2

Dividends and buybacks

Dividend yield, payout, buybacks, and shareholder-yield indicators.

Metric	Value
Buyback Yield	-3.56%
Dividend Yield	0%

Performance and technicals

Returns, volatility, beta, momentum, RSI, and moving-average context.

Metric	Value
1Y total return	-34.86%
200-day SMA	230.2
3Y total return	70.05%
50-day SMA	142.7
50-day SMA vs 200-day SMA	50under200
5Y total return	-10.15%
All Time High	376.1
All Time High Change	-59.55%
All Time High Date	2021-11-19
All Time Low	24.76
All Time Low Change	514.42%
All Time Low Date	2018-05-25
ATR	7.59
Beta	0.96
Beta1y	0.9
Beta2y	1.48
Ch YTD	-32.36
High	152.2
High52	337
High52 Date	2025-11-03
High52ch	-54.86%
Low	145.1
Low52	114.6
Low52 Date	2026-04-10
Low52ch	32.72%
Ma50ch	6.61%
Premarket Change Percent	-2.48
Premarket Price	$149
Premarket Volume	24,339
Price vs 200-day SMA	-33.91%
RSI	60.98
RSI Monthly	41.86
RSI Weekly	37.94
Sharpe ratio	-0.78x
Sortino ratio	-0.89
Total Return	-3.56%
Tr YTD	-32.36
Tr1m	7.07%
Tr1w	8.81%
Tr3m	-9.08%

Analyst estimates

Ratings, targets, revisions, and forward estimate fields.

Metric	Value
Analyst Count	38
Analyst Count Top	12
Analyst Price Target Top	$266
Analyst Ratings	Buy
Analyst Ratings Top	Buy
Earnings EPS Estimate	$0.8
Earnings EPS Estimate Growth	-4.76
Earnings Revenue Estimate	835,413,720x
Earnings Revenue Estimate Growth	23.21x
Operating Income	$-132.5M
Operating margin	-4.42
Price target	$265
Price Target Change	$74.07
Price Target Change Top	$74.79

Ownership and float

Institutional, insider, float, short-interest, and share-count fields.

Metric	Value
Float	104,214,293%
Float Percent	64.81%
Net Borrowing	574,960,000
Shares Insiders	35.16%
Shares Institutions	55.38%
Shares Out	160,790,703
Shares Qo Q	0.69%
Shares Yo Y	3.56%
Short Float	10.08%
Short Ratio	3.53
Short Shares	6.54

Other indicators

Additional ticker metrics that do not fit the primary research groupings yet.

Metric	Value
Adjusted FCF	$209.6M
Average Volume	2,631,787.95x
Bv Per Share	13.68
CAPEX	$-167.3M
Ch1m	7.07
Ch1w	8.81
Ch1y	-34.86
Ch3m	-9.08
Ch3y	70.05
Ch5y	-10.15
Ch6m	-52.46
Change	-0.43%
Change From Open	1.87
Close	152.8
Days Gap	-2.26
Depreciation Amortization	64,497,000
Dollar Volume	535,832,590.3
Earnings Date	2026-05-26
Earnings Time	amc
EBIT	$-132.5M
EBITDA	$-68M
EPS	$-0.43
F Score	3
FCF	$946.8M
FCF EV Yield	4.15x
FCF Per Share	$5.89
Financing CF	419,211,000
Fiscal Year End	July
Founded	2,007
Goodwill	1,001,401,000
Income Tax	$40.6M
Investing CF	-2,089,004,000
Is Primary Listing	1
Is Spac	No
Last Earnings Date	2026-02-26
Last Report Date	2026-01-31
Last Split Type	Never
Last10k Filing Date	2025-09-11
Ma150	212.9
Ma150ch	-28.55%
Ma20	136.7
Ma20ch	11.3%
Net CF	-555,755,000
Next Earnings Date	2026-05-26
Open	149.3
Optionable	Yes
P FCF Ratio	25.84
P OCF Ratio	21.96
Position In Range	99.01
Post Close	152.1
Postmarket Change Percent	-0.41
Postmarket Price	$152
Ppne	682,956,000
Pre Close	152.8
Price Date	2026-05-08
Ptbv Ratio	24.82
Relative Volume	1.34x
Revenue	3,001,123,000x
SBC By Revenue	24.56x
Share Based Comp	737,201,000
Tax By Revenue	1.35x
Tr6m	-52.46%
Us State	California
Views	117
Volume	3,522,202
Z Score	5.79

Fast facts

Decision checkpoints

A compact product layer over the same report payload.

Risk gate

Named kill scenarios are reviewed before any bullish rating can stand.

Moat score

6.5/10

Business quality stays separate from stock attractiveness.

Forward P/E

33.2x

Valuation uses the full report model stack, not a single multiple.

Next action

Hold

Final action steps are kept in the recommendation tab.

Our take

Income

Does ZS pay a dividend?

Capital-return profile for this ticker.

Performance

ZS stock returns vs the market

Total return (incl. dividends) compared to S&P 500.

Ownership

Who owns ZS?

Insider, institutional, and short-interest positioning.

Institutional ownership

+55.4%

Float: +64.8% of shares outstanding

Insider ownership

+35.2%

Stake held by company insiders. Higher generally signals alignment.

Negative means the company is buying back shares.

Technical

ZS momentum and risk profile

RSI, moving-average stack, beta, and risk-adjusted return.

RSI (14)

61.0

Neutral momentum band

Price vs 200-day MA

-33.9%

50/200-day relationship not available

Beta (5Y)

0.96

Moves roughly with the market

Sharpe ratio

-0.78

Risk-adjusted return — higher is better; >1.0 is solid.

Peers

ZS vs. sector cohort

Currency-neutral comparison: P/E, P/S, ROIC, 5Y revenue CAGR, and 1Y total return. Market-cap column appears only when every peer reports in the same currency.

Ticker	Name	Market cap	P/E	P/S	ROIC	5Y rev CAGR	1Y total return	Rating
CRWD	CrowdStrike Holdings Inc.	134.3B	—	27.9x	-358.8%	+40.6%	+24.9%	बेचें
INTC	Intel Corporation	627.8B	—	11.7x	1.5%	-7.1%	+515.1%	बेचें
MRNA	Moderna Inc.	21.6B	—	9.7x	-66.2%	-4.0%	+125.9%	होल्ड

Questions

About ZS

Hub-level FAQ points readers to the deeper analysis pages.

What is the current ZS stock rating?

Zscaler, Inc. is currently shown with Hold in the latest report. The hub links directly to the full analysis surface where the rating, fair-value bridge, risks, and scorecard are documented together.

Where can I read the full ZS analysis?

The full report lives at /stocks/ZS/analysis. The bare ticker page is a product hub that summarizes the latest read and sends readers into the relocated analysis tabs without making the analysis surface depend on the hub.

What fair-value range is used for ZS?

The latest report frames ZS around $114 to $227. Treat that range as the entry point, then check the valuation, sensitivity, and bear-case tabs before making an investment decision.

How often is the ZS page updated?

The hub updates with the latest published stock report and live backend market data. The analysis pages remain reachable under /analysis, so a hub rollback does not remove the report reader.