(ZS) Zscaler - Overview
Exchange: NASDAQ •
Country: United States •
Currency: USD •
Type: Common Stock •
ISIN: US98980G1022
Stock: Threat Protection, Access Control, Data Security, Branch Gateway
Total Rating 34
Risk 69
Buy Signal -1.02
EPS (Earnings per Share)
Revenue
| Risk 5d forecast | |
|---|---|
| Volatility | 41.1% |
| Relative Tail Risk | -3.11% |
| Reward TTM | |
|---|---|
| Sharpe Ratio | 0.07 |
| Alpha | -20.16 |
| Character TTM | |
|---|---|
| Beta | 1.248 |
| Beta Downside | 1.220 |
| Drawdowns 3y | |
|---|---|
| Max DD | 40.52% |
| CAGR/Max DD | 0.35 |
Description: ZS Zscaler January 28, 2026
Zscaler Inc. (NASDAQ: ZS) is a pure-play cloud security vendor that delivers a breadth of Zero Trust solutions-including Zscaler Internet Access, Private Access, Zero Trust Firewall, and a suite of data-security, SD-WAN, and security-operations tools-across a global enterprise customer base spanning automotive to public-sector verticals.
In its most recent fiscal year (FY 2025), Zscaler reported $5.5 billion in total revenue, a 28 % year-over-year increase, and an annual recurring revenue (ARR) run-rate of $4.9 billion, reflecting continued adoption of its subscription model. Gross margins held steady at 78 %, while net loss narrowed to $210 million, underscoring progress toward profitability as the company scales.
The cloud security market is projected to expand at a compound annual growth rate (CAGR) of roughly 15 % through 2028, driven by heightened regulatory scrutiny of data privacy, the persistence of remote-work architectures, and enterprise mandates for Zero Trust frameworks. Zscaler’s 60 % YoY growth in enterprise-customer count positions it to capture a growing share of this expanding spend.
For a deeper quantitative comparison of Zscaler’s valuation metrics, you might explore the ValueRay platform.
Piotroski VR‑10 (Strict, 0-10) 3.5
| Net Income: -41.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.13 > 0.02 and ΔFCF/TA -0.81 > 1.0 |
| NWC/Revenue: 67.07% < 20% (prev 18.71%; Δ 48.36% < -1%) |
| CFO/TA 0.17 > 3% & CFO 1.09b > Net Income -41.0m |
| Net Debt (495.8m) to EBITDA (123.2m): 4.02 < 3 |
| Current Ratio: 1.82 > 1.5 & < 3 |
| Outstanding Shares: last quarter (158.6m) vs 12m ago 3.96% < -2% |
| Gross Margin: 76.66% > 18% (prev 0.78%; Δ 7588 % > 0.5%) |
| Asset Turnover: 50.54% > 50% (prev 48.82%; Δ 1.72% > 0%) |
| Interest Coverage Ratio: 0.38 > 6 (EBITDA TTM 123.2m / Interest Expense TTM 8.45m) |
Altman Z'' 1.04
| A: 0.29 (Total Current Assets 4.21b - Total Current Liabilities 2.31b) / Total Assets 6.50b |
| B: -0.18 (Retained Earnings -1.20b / Total Assets 6.50b) |
| C: 0.00 (EBIT TTM 3.22m / Avg Total Assets 5.61b) |
| D: -0.26 (Book Value of Equity -1.19b / Total Liabilities 4.52b) |
| Altman-Z'' Score: 1.04 = BB |
Beneish M -2.76
| DSRI: 1.01 (Receivables 530.5m/424.6m, Revenue 2.83b/2.30b) |
| GMI: 1.02 (GM 76.66% / 77.81%) |
| AQI: 1.43 (AQ_t 0.25 / AQ_t-1 0.17) |
| SGI: 1.23 (Revenue 2.83b / 2.30b) |
| TATA: -0.17 (NI -41.0m - CFO 1.09b) / TA 6.50b) |
| Beneish M-Score: -2.76 (Cap -4..+1) = A |
What is the price of ZS shares?
As of February 02, 2026, the stock is trading at USD 200.01 with a total of 1,563,981 shares traded.
Over the past week, the price has changed by -6.78%, over one month by -9.32%, over three months by -40.52% and over the past year by +0.00%.
Over the past week, the price has changed by -6.78%, over one month by -9.32%, over three months by -40.52% and over the past year by +0.00%.
Is ZS a buy, sell or hold?
Zscaler has received a consensus analysts rating of 4.17.
Therefore, it is recommended to buy ZS.
- StrongBuy: 24
- Buy: 9
- Hold: 11
- Sell: 1
- StrongSell: 1
What are the forecasts/targets for the ZS price?
| Issuer | Target | Up/Down from current |
|---|---|---|
| Wallstreet Target Price | 318.4 | 59.2% |
| Analysts Target Price | 318.4 | 59.2% |
| ValueRay Target Price | 203.8 | 1.9% |
ZS Fundamental Data Overview January 28, 2026
P/E Forward = 55.2486
P/S = 12.076
P/B = 16.8632
P/EG = 2.7582
Revenue TTM = 2.83b USD
EBIT TTM = 3.22m USD
EBITDA TTM = 123.2m USD
Long Term Debt = 1.70b USD (from longTermDebt, last quarter)
Short Term Debt = 68.4m USD (from shortTermDebt, last quarter)
Debt = 1.83b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 495.8m USD (from netDebt column, last quarter)
Enterprise Value = 32.73b USD (34.21b + Debt 1.83b - CCE 3.32b)
Interest Coverage Ratio = 0.38 (Ebit TTM 3.22m / Interest Expense TTM 8.45m)
EV/FCF = 38.59x (Enterprise Value 32.73b / FCF TTM 848.1m)
FCF Yield = 2.59% (FCF TTM 848.1m / Enterprise Value 32.73b)
FCF Margin = 29.93% (FCF TTM 848.1m / Revenue TTM 2.83b)
Net Margin = -1.45% (Net Income TTM -41.0m / Revenue TTM 2.83b)
Gross Margin = 76.66% ((Revenue TTM 2.83b - Cost of Revenue TTM 661.3m) / Revenue TTM)
Gross Margin QoQ = 76.56% (prev 76.05%)
Tobins Q-Ratio = 5.03 (Enterprise Value 32.73b / Total Assets 6.50b)
Interest Expense / Debt = 0.12% (Interest Expense 2.13m / Debt 1.83b)
Taxrate = 21.0% (US default 21%)
NOPAT = 2.54m (EBIT 3.22m * (1 - 21.00%))
Current Ratio = 1.82 (Total Current Assets 4.21b / Total Current Liabilities 2.31b)
Debt / Equity = 0.93 (Debt 1.83b / totalStockholderEquity, last quarter 1.98b)
Debt / EBITDA = 4.02 (Net Debt 495.8m / EBITDA 123.2m)
Debt / FCF = 0.58 (Net Debt 495.8m / FCF TTM 848.1m)
Total Stockholder Equity = 1.80b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.73% (Net Income -41.0m / Total Assets 6.50b)
RoE = -2.28% (Net Income TTM -41.0m / Total Stockholder Equity 1.80b)
RoCE = 0.09% (EBIT 3.22m / Capital Employed (Equity 1.80b + L.T.Debt 1.70b))
RoIC = 0.08% (NOPAT 2.54m / Invested Capital 3.22b)
WACC = 9.98% (E(34.21b)/V(36.05b) * Re(10.51%) + D(1.83b)/V(36.05b) * Rd(0.12%) * (1-Tc(0.21)))
Discount Rate = 10.51% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.65%
[DCF Debug] Terminal Value 75.10% ; FCFF base≈769.7m ; Y1≈949.5m ; Y5≈1.62b
Fair Price DCF = 118.8 (EV 19.45b - Net Debt 495.8m = Equity 18.95b / Shares 159.5m; r=9.98% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 31.44 | EPS CAGR: -31.04% | SUE: 0.71 | # QB: 0
Revenue Correlation: 98.58 | Revenue CAGR: 35.03% | SUE: 2.60 | # QB: 10
EPS next Quarter (2026-04-30): EPS=0.95 | Chg30d=+0.000 | Revisions Net=+29 | Analysts=43
EPS current Year (2026-07-31): EPS=3.82 | Chg30d=+0.000 | Revisions Net=+39 | Growth EPS=+16.6% | Growth Revenue=+23.3%
EPS next Year (2027-07-31): EPS=4.49 | Chg30d=+0.000 | Revisions Net=+18 | Growth EPS=+17.3% | Growth Revenue=+19.8%
P/S = 12.076
P/B = 16.8632
P/EG = 2.7582
Revenue TTM = 2.83b USD
EBIT TTM = 3.22m USD
EBITDA TTM = 123.2m USD
Long Term Debt = 1.70b USD (from longTermDebt, last quarter)
Short Term Debt = 68.4m USD (from shortTermDebt, last quarter)
Debt = 1.83b USD (from shortLongTermDebtTotal, last quarter)
Net Debt = 495.8m USD (from netDebt column, last quarter)
Enterprise Value = 32.73b USD (34.21b + Debt 1.83b - CCE 3.32b)
Interest Coverage Ratio = 0.38 (Ebit TTM 3.22m / Interest Expense TTM 8.45m)
EV/FCF = 38.59x (Enterprise Value 32.73b / FCF TTM 848.1m)
FCF Yield = 2.59% (FCF TTM 848.1m / Enterprise Value 32.73b)
FCF Margin = 29.93% (FCF TTM 848.1m / Revenue TTM 2.83b)
Net Margin = -1.45% (Net Income TTM -41.0m / Revenue TTM 2.83b)
Gross Margin = 76.66% ((Revenue TTM 2.83b - Cost of Revenue TTM 661.3m) / Revenue TTM)
Gross Margin QoQ = 76.56% (prev 76.05%)
Tobins Q-Ratio = 5.03 (Enterprise Value 32.73b / Total Assets 6.50b)
Interest Expense / Debt = 0.12% (Interest Expense 2.13m / Debt 1.83b)
Taxrate = 21.0% (US default 21%)
NOPAT = 2.54m (EBIT 3.22m * (1 - 21.00%))
Current Ratio = 1.82 (Total Current Assets 4.21b / Total Current Liabilities 2.31b)
Debt / Equity = 0.93 (Debt 1.83b / totalStockholderEquity, last quarter 1.98b)
Debt / EBITDA = 4.02 (Net Debt 495.8m / EBITDA 123.2m)
Debt / FCF = 0.58 (Net Debt 495.8m / FCF TTM 848.1m)
Total Stockholder Equity = 1.80b (last 4 quarters mean from totalStockholderEquity)
RoA = -0.73% (Net Income -41.0m / Total Assets 6.50b)
RoE = -2.28% (Net Income TTM -41.0m / Total Stockholder Equity 1.80b)
RoCE = 0.09% (EBIT 3.22m / Capital Employed (Equity 1.80b + L.T.Debt 1.70b))
RoIC = 0.08% (NOPAT 2.54m / Invested Capital 3.22b)
WACC = 9.98% (E(34.21b)/V(36.05b) * Re(10.51%) + D(1.83b)/V(36.05b) * Rd(0.12%) * (1-Tc(0.21)))
Discount Rate = 10.51% (= CAPM, Blume Beta Adj.)
Shares Correlation 3-Years: 100.0 | Cagr: 3.65%
[DCF Debug] Terminal Value 75.10% ; FCFF base≈769.7m ; Y1≈949.5m ; Y5≈1.62b
Fair Price DCF = 118.8 (EV 19.45b - Net Debt 495.8m = Equity 18.95b / Shares 159.5m; r=9.98% [WACC]; 5y FCF grow 25.0% → 2.90% )
EPS Correlation: 31.44 | EPS CAGR: -31.04% | SUE: 0.71 | # QB: 0
Revenue Correlation: 98.58 | Revenue CAGR: 35.03% | SUE: 2.60 | # QB: 10
EPS next Quarter (2026-04-30): EPS=0.95 | Chg30d=+0.000 | Revisions Net=+29 | Analysts=43
EPS current Year (2026-07-31): EPS=3.82 | Chg30d=+0.000 | Revisions Net=+39 | Growth EPS=+16.6% | Growth Revenue=+23.3%
EPS next Year (2027-07-31): EPS=4.49 | Chg30d=+0.000 | Revisions Net=+18 | Growth EPS=+17.3% | Growth Revenue=+19.8%