Fundamental analysis · SEC EDGAR · as of 31/07/2026
ZS · Nasdaq · Technology
Fundamental quality
77
out of 100
Zscaler, Inc. is in full growth mode but not yet profitable: revenue is growing strongly (37.9% a year), but it doesn't translate into earnings yet. On fundamental quality it scores 77 out of 100, profiling it as a company with solid fundamentals. Its weakest area is its profitability (net margin -1.9%). Whether it's cheap or expensive depends on the current price, which you can compute in the tool.
Zscaler sells cloud security under the 'zero trust' model: instead of protecting the office network with walls, it verifies every connection from every employee, wherever they are. Remote work and the cloud made its approach the new corporate standard.
Revenue growth: 37.9%
Net margin: -1.9% · ROE: -2.4%
FCF: 25.4%
Source: SEC EDGAR · as of 31/07/2026
The score combines growth, profitability and financial strength. Here its growth weighs in its favor, while its profitability drags it down the most.
Percentile against the other 100 Technology companies in our coverage: how far it beats them on each metric (100 = best in sector).
Computed from the daily dataset scores. A high percentile places the company among the best in its sector on that metric; it is not a buy recommendation.
Key concepts
What do these metrics mean? Fundamental analysis · What is the P/E · What is EPS · What is ROE · Net & gross margin · Free cash flow
| Year | Revenue | Net income | Free cash flow | Net debt |
|---|---|---|---|---|
| 2021 | 673 | -262 | 154 | 638 |
| 2022 | 1,091 | -390 | 253 | -45 |
| 2023 | 1,617 | -202 | 365 | -128 |
| 2024 | 2,168 | -58 | 635 | -281 |
| 2025 | 2,673 | -41 | 808 | -2,389 |
| 2026 | 3,353 | -63 | 852 | -928 |
Between 2021 and 2026, revenue went from $673M to $3,353M (+398%) and net income went from -$262M to -$63M (+76%). It has also reduced its net debt over the period.
Annual figures in millions of U.S. dollars ($M) per SEC filings. Net debt is total debt minus cash.
Latest results
Compared with the previous close (April 30, 2026), this is what moved in its accounts:
Automatic comparison between the two most recent periods filed with the SEC. One quarter doesn't make a trend: read it alongside the historical evolution above.
This company doesn't pay a dividend: it reinvests all its earnings back into the business.
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Is Zscaler, Inc. cheap or expensive?
That depends on the current price. Look it up, enter it in the tool and get the full valuation verdict (P/E against its sector).
Compute the valuation →Is Zscaler, Inc. a good company to invest in?
In terms of business quality, Zscaler, Inc. scores 77 out of 100 in our analysis, placing it as a company of high fundamental quality. That said, this isn't a recommendation: whether it's a good investment also depends on its current price and your goals.
Is Zscaler, Inc. a profitable company?
Over the last twelve months, no: Zscaler, Inc. posts a negative net margin (-1.9%).
Is Zscaler, Inc. growing?
Its revenue has grown 37.9% annualized in recent years, and without interruption since 2021.
Does Zscaler, Inc. generate cash?
Yes. It converts about 25.4% of its revenue into free cash flow, and has done so positively year after year.
The thresholds are general and the system doesn't judge qualitative factors. See the full methodology and use this analysis as a first filter, never as a final decision.
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Who's behind the methodology and model · how the score is computed
Data: see Zscaler, Inc.'s filings on EDGAR
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