Cash flow Zscaler, Inc.

Equities

ZS

US98980G1022

Software

Market Closed - Nasdaq Other stock markets 04:00:00 2025-12-12 pm EST			5-day change	1st Jan Change
236.28 ^USD	-2.40%		-2.64%	+30.97%

Dec. 11	Zscaler, Inc. Presents at Barclays 23rd Annual Global Technology Conference, Dec-11-2025 09:50 AM
Dec. 04	Netskope's Q3 Demand Appears Strong With Potential ARR Upside, Oppenheimer Says	MT

504984754da3a6d6.z0qhjf8nkQJzQ4l0RrzOfP3QVf99QZJMmixI3F6jXyY.hHryy41yxEVEOvMtFNuEG5uXYqgPLtp9w20QlyvWaUX4LeC4j0jnYzt1uQ

Published financial data: ZSCALER, INC.

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: July	2021	2022	2023	2024	2025
Revenues	673M	1.09B	1.62B	2.17B	2.67B
Total Revenues	673M	1.09B	1.62B	2.17B	2.67B
Cost of Goods Sold, Total	149M	241M	362M	475M	615M
Gross Profit	524M	850M	1.26B	1.69B	2.06B
Selling General & Admin Expenses, Total	541M	872M	1.12B	1.3B	1.5B
Stock-Based Compensation (IS)	-	-	1.04M	-	-
R&D Expenses	169M	284M	346M	494M	660M
Other Operating Expenses	20.03M	20.46M	12.98M	21.42M	24.18M
Other Operating Expenses, Total	731M	1.18B	1.48B	1.81B	2.18B
Operating Income	-206M	-327M	-228M	-121M	-122M
Interest Expense, Total	-53.36M	-56.58M	-6.54M	-13.13M	-9.52M
Interest And Investment Income	2.81M	4.59M	60.46M	109M	125M
Net Interest Expenses	-50.55M	-51.99M	53.92M	96M	116M
Currency Exchange Gains (Loss)	1.19M	-	-	-	-
Other Non Operating Income (Expenses)	-	-4.21M	-1.86M	-3.75M	-5.67M
EBT, Excl. Unusual Items	-256M	-383M	-176M	-29.23M	-12.05M
Restructuring Charges	-416K	-	-6.56M	-	-4.92M
Merger & Related Restructuring Charges	-900K	-700K	-	-	-1.32M
Legal Settlements	-	-	-	-	-
Other Unusual Items	-	-	-	-	-
EBT, Incl. Unusual Items	-257M	-384M	-183M	-29.23M	-18.29M
Income Tax Expense	4.85M	6.65M	19.77M	28.48M	23.19M
Earnings From Continuing Operations	-262M	-390M	-202M	-57.71M	-41.48M
Net Income to Company	-262M	-390M	-202M	-57.71M	-41.48M
Net Income - (IS)	-262M	-390M	-202M	-57.71M	-41.48M
Net Income to Common Incl Extra Items	-262M	-390M	-202M	-57.71M	-41.48M
Net Income to Common Excl. Extra Items	-262M	-390M	-202M	-57.71M	-41.48M
Per Share Items
Net EPS - Basic	-1.93	-2.77	-1.4	-0.39	-0.27
Basic EPS - Continuing Operations	-1.93	-2.77	-1.4	-0.39	-0.27
Basic Weighted Average Shares Outstanding	136M	141M	145M	150M	154M
Net EPS - Diluted	-1.93	-2.77	-1.4	-0.39	-0.27
Diluted EPS - Continuing Operations	-1.93	-2.77	-1.4	-0.39	-0.27
Diluted Weighted Average Shares Outstanding	136M	141M	145M	150M	154M
Normalized Basic EPS	-1.18	-1.7	-0.76	-0.12	-0.05
Normalized Diluted EPS	-1.18	-1.7	-0.76	-0.12	-0.05
American Depositary Receipts Ratio (ADR)	0.03	0.03	0.03	0.03	0.03
Supplemental Items
EBITDA	-182M	-299M	-196M	-90.24M	-77.76M
EBITA	-206M	-326M	-227M	-120M	-121M
EBIT	-206M	-327M	-228M	-121M	-122M
EBITDAR	-153M	-260M	-141M	-11.58M	21.46M
Effective Tax Rate - (Ratio)	-1.89	-1.73	-10.83	-97.43	-126.77
Current Domestic Taxes	126K	399K	4.98M	1.54M	3.94M
Current Foreign Taxes	7.1M	7M	14.44M	32.62M	32.75M
Total Current Taxes	7.23M	7.4M	19.42M	34.16M	36.69M
Deferred Domestic Taxes	-352K	-1.04M	-	-5.22M	203K
Deferred Foreign Taxes	-2.03M	296K	352K	-464K	-13.7M
Total Deferred Taxes	-2.38M	-747K	352K	-5.68M	-13.5M
Normalized Net Income	-160M	-239M	-110M	-18.27M	-7.53M
Interest on Long-Term Debt	53.36M	56.58M	6.54M	13.13M	9.52M
Supplemental Operating Expense Items
Advertising Expense	11.8M	22.1M	24M	25M	29.9M
Selling and Marketing Expenses	448M	724M	947M	1.09B	1.25B
General and Administrative Expenses	93.02M	148M	176M	210M	248M
Research And Development Expense From Footnotes	187M	310M	384M	550M	749M
Net Rental Expense, Total	29.4M	38.06M	54.48M	78.66M	99.23M
Imputed Operating Lease Interest Expense	13.43M	17.14M	2.52M	6.72M	4.97M
Imputed Operating Lease Depreciation	15.98M	20.92M	51.97M	71.94M	94.25M
Stock-Based Comp., COGS (Total)	14.04M	23.85M	39.17M	50.82M	68.14M
Stock-Based Comp., R&D Exp. (Total)	67.8M	118M	118M	181M	250M
Stock-Based Comp., S&M Exp. (Total)	133M	191M	216M	219M	249M
Stock-Based Comp., G&A Exp. (Total)	43.58M	76.32M	71.12M	77.21M	94.72M
Stock-Based Comp., Other (Total)	-	-	1.04M	-	-
Total Stock-Based Compensation	259M	410M	445M	528M	661M

Fiscal Period: July	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	276M	1.01B	1.26B	1.42B	2.39B
Short Term Investments	1.23B	718M	838M	987M	1.18B
Total Cash And Short Term Investments	1.5B	1.73B	2.1B	2.41B	3.57B
Accounts Receivable, Total	257M	400M	583M	737M	992M
Other Receivables	3.9M	1.3M	7.2M	10.7M	17.9M
Total Receivables	261M	401M	590M	747M	1.01B
Prepaid Expenses	26.83M	37.42M	69.78M	86.19M	115M
Other Current Assets, Total	57.92M	86.84M	130M	154M	197M
Total Current Assets	1.85B	2.26B	2.89B	3.4B	4.89B
Gross Property Plant And Equipment	230M	352M	489M	723M	1B
Accumulated Depreciation	-77.22M	-119M	-176M	-250M	-372M
Net Property Plant And Equipment	153M	233M	313M	473M	633M
Long-term Investments	5.1M	5.1M	7.8M	9.8M	10.6M
Goodwill	58.98M	78.55M	89.19M	417M	418M
Other Intangibles, Total	32.13M	37.42M	32.86M	73.44M	63.02M
Deferred Charges Long-Term	150M	211M	259M	297M	329M
Other Long-Term Assets, Total	10.55M	11.17M	15.72M	38.68M	72.37M
Total Assets	2.26B	2.83B	3.61B	4.7B	6.42B
Liabilities
Accounts Payable, Total	12.55M	26.15M	18.48M	23.31M	46.91M
Accrued Expenses, Total	115M	144M	193M	243M	268M
Current Portion of Long-Term Debt	-	-	6.44M	1.15B	-
Current Portion of Leases	19.84M	26.1M	34.47M	50.87M	52.5M
Unearned Revenue Current, Total	571M	924M	1.28B	1.64B	2.05B
Other Current Liabilities	1.32M	14.35M	1.92M	5.48M	7.96M
Total Current Liabilities	720M	1.13B	1.54B	3.11B	2.43B
Long-Term Debt	914M	969M	1.14B	-	1.7B
Long-Term Leases	31.22M	50.95M	41.92M	44.82M	43.35M
Unearned Revenue Non Current	59.32M	97.37M	159M	251M	414M
Other Non Current Liabilities	4.45M	7.92M	11.14M	22.1M	33.32M
Total Liabilities	1.73B	2.26B	2.88B	3.43B	4.62B
Preferred Stock Convertible	-	-	-	-	-
Total Preferred Equity	-	-	-	-	-
Common Stock, Total	139K	143K	147K	152K	159K
Additional Paid In Capital	1.13B	1.59B	1.82B	2.43B	2.98B
Retained Earnings	-602M	-992M	-1.09B	-1.15B	-1.19B
Comprehensive Income and Other	-650K	-25.85M	-1.58M	-4.79M	8.08M
Total Common Equity	529M	573M	725M	1.27B	1.8B
Total Equity	529M	573M	725M	1.27B	1.8B
Total Liabilities And Equity	2.26B	2.83B	3.61B	4.7B	6.42B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	139M	143M	147M	152M	158M
ECS Total Common Shares Outstanding	139M	143M	147M	152M	158M
Book Value / Share	3.81	4.01	4.93	8.36	11.37
Tangible Book Value	438M	457M	603M	784M	1.32B
Tangible Book Value Per Share	3.16	3.2	4.1	5.14	8.33
Total Debt	965M	1.05B	1.22B	1.24B	1.8B
Net Debt	-538M	-686M	-882M	-1.17B	-1.78B
Debt Equivalent Oper. Leases	235M	304M	436M	629M	794M
Account Code - Inventory Valuation	3	3	3	3	3
Machinery, Total	138M	199M	289M	427M	582M
Full Time Employees	3.15K	4.98K	5.96K	7.35K	7.92K

Fiscal Period: July	2021	2022	2023	2024	2025
Net Income	-262M	-390M	-202M	-57.71M	-41.48M
Depreciation & Amortization - CF	23.76M	27.46M	31.56M	30.01M	42.76M
Amortization of Goodwill and Intangible Assets - (CF)	327K	712K	773K	1.23M	1.7M
Depreciation & Amortization, Total	24.09M	28.17M	32.33M	31.24M	44.46M
Amortization of Deferred Charges, Total - (CF)	105M	145M	137M	184M	247M
(Gain) Loss on Sale of Investments - (CF)	11.72M	6.58M	-6.58M	-19.06M	-15.92M
Asset Writedown & Restructuring Costs	416K	-	-	-	-
Stock-Based Compensation (CF)	259M	410M	445M	528M	661M
Other Operating Activities, Total	18.9M	25.46M	28.42M	47.88M	50M
Change In Accounts Receivable	-112M	-143M	-184M	-153M	-256M
Change In Accounts Payable	7.45M	14.36M	-8.42M	4.16M	17.53M
Change in Unearned Revenues	262M	391M	419M	450M	573M
Change in Other Net Operating Assets	-113M	-165M	-198M	-235M	-308M
Cash from Operations	202M	322M	462M	780M	972M
Capital Expenditure	-48.16M	-69.3M	-97.2M	-145M	-164M
Cash Acquisitions	-40.53M	-25.29M	-15.64M	-375M	-834K
Sale (Purchase) of Intangible assets	-10.13M	-21.28M	-31.53M	-50.31M	-81.51M
Investment in Marketable and Equity Securities, Total	-10.84M	490M	-115M	-114M	-180M
Other Investing Activities, Total	-	-	-	-	-
Cash from Investing	-110M	374M	-259M	-683M	-427M
Long-Term Debt Issued, Total	-	-	-	-	1.72B
Total Debt Issued	-	-	-	-	1.72B
Long-Term Debt Repaid, Total	-	-	-	-	-1.15B
Total Debt Repaid	-	-	-	-	-1.15B
Issuance of Common Stock	43.92M	41.59M	46.21M	64.25M	67.14M
Repurchase of Common Stock	-	-	-	-	-
Issuance of Preferred Stock	-	-	-	-	-
Other Financing Activities, Total	-2.25M	-255K	-217K	-39K	-222M
Cash from Financing	41.68M	41.34M	45.99M	64.21M	421M
Net Change in Cash	134M	737M	249M	161M	966M
Supplemental Items
Cash Interest Paid	1.46M	1.44M	1.44M	1.44M	1.44M
Cash Income Tax Paid (Refund)	4.14M	5.61M	14.94M	23.12M	23.34M
Levered Free Cash Flow	324M	481M	461M	688M	751M
Unlevered Free Cash Flow	306M	461M	461M	692M	753M
Change In Net Working Capital	-158M	-228M	-122M	-224M	-126M
Net Debt Issued / Repaid	-	-	-	-	575M

Fiscal Period: July	2021	2022	2023	2024	2025
Profitability
Return on Assets	-6.31	-8.02	-4.43	-1.83	-1.37
Return on Total Capital	-8.95	-13.12	-8	-3.4	-2.5
Return On Equity %	-51.7	-70.82	-31.17	-5.77	-2.7
Return on Common Equity	-51.7	-70.82	-31.17	-5.77	-2.7
Margin Analysis
Gross Profit Margin %	77.85	77.92	77.63	78.08	76.99
SG&A Margin	80.41	79.96	69.44	59.89	55.96
EBITDA Margin %	-27.1	-27.37	-12.1	-4.16	-2.91
EBITA Margin %	-30.63	-29.88	-14.06	-5.55	-4.51
EBIT Margin %	-30.68	-29.95	-14.1	-5.6	-4.57
Income From Continuing Operations Margin %	-38.93	-35.77	-12.51	-2.66	-1.55
Net Income Margin %	-38.93	-35.77	-12.51	-2.66	-1.55
Net Avail. For Common Margin %	-38.93	-35.77	-12.51	-2.66	-1.55
Normalized Net Income Margin	-23.76	-21.94	-6.8	-0.84	-0.28
Levered Free Cash Flow Margin	48.18	44.09	28.5	31.72	28.11
Unlevered Free Cash Flow Margin	45.42	42.28	28.51	31.92	28.17
Asset Turnover
Asset Turnover	0.33	0.43	0.5	0.52	0.48
Fixed Assets Turnover	5.08	5.65	5.92	5.52	4.83
Receivables Turnover (Average Receivables)	3.33	3.32	3.29	3.29	3.09
Short Term Liquidity
Current Ratio	2.57	1.99	1.88	1.09	2.01
Quick Ratio	2.45	1.88	1.75	1.01	1.89
Operating Cash Flow to Current Liabilities	0.28	0.28	0.3	0.25	0.4
Days Sales Outstanding (Average Receivables)	109.73	109.88	110.88	111.36	118.02
Average Days Payable Outstanding	21.77	29.33	22.52	16.09	20.83
Long Term Solvency
Total Debt/Equity	182.38	182.4	168.05	97.46	99.85
Total Debt / Total Capital	64.59	64.59	62.69	49.36	49.96
LT Debt/Equity	178.63	177.85	162.41	3.52	96.93
Long-Term Debt / Total Capital	63.26	62.98	60.59	1.78	48.5
Total Liabilities / Total Assets	76.57	79.76	79.9	72.92	71.97
EBIT / Interest Expense	-3.87	-5.77	-34.87	-9.25	-12.84
EBITDA / Interest Expense	-2.87	-4.6	-21.59	-0.88	2.25
(EBITDA - Capex) / Interest Expense	-3.77	-5.83	-36.45	-11.89	-15
Total Debt / EBITDA	-6.3	-4.01	-8.63	-107.27	83.7
Net Debt / EBITDA	3.52	2.63	6.24	100.89	-82.74
Total Debt / (EBITDA - Capex)	-4.8	-3.17	-5.11	-7.95	-12.58
Net Debt / (EBITDA - Capex)	2.67	2.08	3.7	7.48	12.44
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	56.07	62.08	48.22	34.07	23.31
Gross Profit, 1 Yr. Growth %	55.93	62.23	47.66	34.84	21.58
EBITDA, 1 Yr. Growth %	146.37	69.7	-32.57	-51.34	1.19
EBITA, 1 Yr. Growth %	128.14	63.25	-28.46	-44.59	12.79
EBIT, 1 Yr. Growth %	120.25	58.23	-30.2	-46.73	0.61
Earnings From Cont. Operations, 1 Yr. Growth %	127.62	48.94	-48.16	-71.48	-28.12
Net Income, 1 Yr. Growth %	127.62	48.94	-48.16	-71.48	-28.12
Normalized Net Income, 1 Yr. Growth %	176.53	49.66	-54.04	-83.39	-58.76
Diluted EPS Before Extra, 1 Yr. Growth %	117	43.4	-49.6	-72.37	-30.36
Accounts Receivable, 1 Yr. Growth %	74.21	55.48	45.75	26.41	34.71
Net Property, Plant and Equip., 1 Yr. Growth %	36.71	52.37	34.35	51.07	33.89
Total Assets, 1 Yr. Growth %	23.14	25.47	27.38	30.39	36.45
Tangible Book Value, 1 Yr. Growth %	1.64	5.09	31.86	29.94	68.26
Common Equity, 1 Yr. Growth %	9.09	8.4	26.48	75.71	41.22
Cash From Operations, 1 Yr. Growth %	154.72	59.33	43.62	68.67	24.7
Capital Expenditures, 1 Yr. Growth %	11.82	43.87	40.26	48.76	13.6
Levered Free Cash Flow, 1 Yr. Growth %	158.72	48.32	-4.21	49.26	9.25
Unlevered Free Cash Flow, 1 Yr. Growth %	147.35	50.85	-0.06	50.13	8.81
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	49.09	59.05	54.99	40.96	28.58
Gross Profit, 2 Yr. CAGR %	46.64	59.05	54.77	41.1	28.04
EBITDA, 2 Yr. CAGR %	296.07	100.81	5.47	-44.31	-35.24
EBITA, 2 Yr. CAGR %	213.14	89.94	6.68	-38.55	-25.47
EBIT, 2 Yr. CAGR %	206.83	86.68	5.09	-39.09	-26.79
Earnings From Cont. Operations, 2 Yr. CAGR %	202.39	84.13	-12.13	-61.55	-54.72
Net Income, 2 Yr. CAGR %	202.39	84.13	-12.13	-61.55	-54.72
Normalized Net Income, 2 Yr. CAGR %	319.59	103.44	-17.06	-72.4	-73.83
Diluted EPS Before Extra, 2 Yr. CAGR %	188.61	76.4	-14.99	-62.68	-56.13
Accounts Receivable, 2 Yr. CAGR %	65.97	64.58	50.54	35.74	30.5
Net Property, Plant and Equip., 2 Yr. CAGR %	93.01	44.33	43.08	42.46	42.22
Total Assets, 2 Yr. CAGR %	93.31	24.3	26.42	28.88	33.39
Tangible Book Value, 2 Yr. CAGR %	22.37	3.33	17.72	30.9	47.86
Common Equity, 2 Yr. CAGR %	30.92	8.74	17.09	49.08	57.52
Cash From Operations, 2 Yr. CAGR %	86.6	101.46	51.27	55.65	45.03
Capital Expenditures, 2 Yr. CAGR %	37.38	26.84	42.06	44.45	30
Levered Free Cash Flow, 2 Yr. CAGR %	117.09	95.89	19.2	19.63	27.7
Unlevered Free Cash Flow, 2 Yr. CAGR %	110.78	93.17	22.79	22.55	27.81
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	52.4	53.3	55.35	47.68	34.82
Gross Profit, 3 Yr. CAGR %	50.97	51.66	55.16	47.82	34.27
EBITDA, 3 Yr. CAGR %	110.71	195.01	38.27	-19.95	-35.59
EBITA, 3 Yr. CAGR %	97.94	149.36	35.99	-15.56	-27.66
EBIT, 3 Yr. CAGR %	98.04	146.05	34.49	-16.21	-28
Earnings From Cont. Operations, 3 Yr. CAGR %	87.14	138.81	20.68	-39.61	-52.63
Net Income, 3 Yr. CAGR %	87.14	138.81	20.68	-39.61	-52.63
Normalized Net Income, 3 Yr. CAGR %	102.96	197.57	23.9	-51.48	-68.44
Diluted EPS Before Extra, 3 Yr. CAGR %	45.6	128.59	16.18	-41.55	-54.06
Accounts Receivable, 3 Yr. CAGR %	61	62.39	58.05	42.02	35.4
Net Property, Plant and Equip., 3 Yr. CAGR %	97.78	78.38	40.92	45.69	39.55
Total Assets, 3 Yr. CAGR %	71.47	67.37	25.32	27.73	31.35
Tangible Book Value, 3 Yr. CAGR %	22.14	16.08	12.08	21.66	42.33
Common Equity, 3 Yr. CAGR %	30.09	22.94	14.36	34.05	46.41
Cash From Operations, 3 Yr. CAGR %	126.85	77.03	79.97	56.86	44.56
Capital Expenditures, 3 Yr. CAGR %	53.19	39.51	31.17	44.26	33.33
Levered Free Cash Flow, 3 Yr. CAGR %	133.94	91.2	54.33	28.48	16.06
Unlevered Free Cash Flow, 3 Yr. CAGR %	118.55	88.54	55.08	31.3	17.79
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	52.98	54.06	53.43	48.24	44.03
Gross Profit, 5 Yr. CAGR %	54.15	53.97	52.48	47.35	43.68
EBITDA, 5 Yr. CAGR %	51.35	73.11	58.61	50.65	0.99
EBITA, 5 Yr. CAGR %	50.34	67.34	53.6	41.73	5.93
EBIT, 5 Yr. CAGR %	50.39	67.41	53.7	40.82	5.45
Earnings From Cont. Operations, 5 Yr. CAGR %	48.66	54.02	38.31	15.03	-18.47
Net Income, 5 Yr. CAGR %	48.66	54.02	38.31	15.03	-18.47
Normalized Net Income, 5 Yr. CAGR %	48.34	62.37	41.89	15	-33.48
Diluted EPS Before Extra, 5 Yr. CAGR %	7.26	12.44	17.4	10.71	-21.31
Accounts Receivable, 5 Yr. CAGR %	60.04	59.23	56.73	51.16	46.39
Net Property, Plant and Equip., 5 Yr. CAGR %	68.95	77.73	73.75	63.04	41.44
Total Assets, 5 Yr. CAGR %	71.2	72.98	51.79	50.76	28.48
Tangible Book Value, 5 Yr. CAGR %	28.54	24.79	20.21	21.8	25.22
Common Equity, 5 Yr. CAGR %	33.5	30.56	24.72	32.79	29.99
Cash From Operations, 5 Yr. CAGR %	76.14	121.64	92.91	68.14	65.08
Capital Expenditures, 5 Yr. CAGR %	54.89	54.85	48.64	41.47	30.7
Levered Free Cash Flow, 5 Yr. CAGR %	189.1	94.25	78.64	58.47	43.07
Unlevered Free Cash Flow, 5 Yr. CAGR %	140.51	81.57	73.54	58.67	43.53