Financials Zscaler, Inc.

Equities

ZS

US98980G1022

Software

Real-time Estimate Cboe BZX Other stock markets 03:07:23 2024-12-11 pm EST			5-day change	1st Jan Change
207.26 ^USD	+2.92%		+0.50%	-6.39%

Dec. 10	Cognizant and Zscaler Expand Partnership to Accelerate Adoption of Ai-Enabled Zero Trust Security	CI
Dec. 03	Zscaler Set for Revenue, Billings Growth in Fiscal 2025 Following Solid Q1, RBC Says	MT

Projected Income Statement: Zscaler, Inc.

income-statement-evolution-chart ZSCALER-INC

Fiscal Period: July	2020	2021	2022	2023	2024	2025	2026	2027
Net sales ¹	431.3	673.1	1,091	1,617	2,168	2,638	3,182	3,856
Change	-	56.07%	62.08%	48.22%	34.07%	21.69%	20.62%	21.2%
EBITDA ¹	47.66	107.6	152.1	296.6	508.6	653.1	824.2	1,028
Change	-	125.82%	41.29%	95.04%	71.48%	28.43%	26.19%	24.78%
EBIT ¹	29.92	77.96	111.6	240.8	442.2	555.9	697.9	897.2
Change	-	160.52%	43.15%	115.78%	83.65%	25.69%	25.55%	28.56%
Interest Paid ¹	-	-53.36	-1.06	-6.541	-13.13	-13.14	-13.58	-13.72
Earnings before Tax (EBT) ¹	-112.7	-257.2	-383.6	-182.6	-29.23	-23.61	57.98	202.1
Change	-	128.14%	49.17%	-52.41%	-83.99%	19.22%	-	248.6%
Net income ¹	-115.1	-262	-390.3	-202.3	-57.71	-88.9	-30.23	17.65
Change	-	127.62%	48.94%	-48.16%	-71.48%	-54.06%	65.99%	-
Announcement Date	9/9/20	9/9/21	9/8/22	9/5/23	9/3/24	-	-	-

¹USD in Million

Estimates

Fiscal Period: Luglio	2020 Q2	2020 Q3	2020 Q4	2021 Q1	2021 Q2	2021 Q3	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2	2025 Q3	2025 Q4	2026 Q1	2026 Q2	2026 Q3	2026 Q4	2027 Q1
Net sales ¹	101.3	110.5	125.9	142.6	157	176.4	197.1	230.5	255.6	286.8	318.1	355.5	387.6	418.8	455	496.7	525	553.2	592.9	628	635.1	667	708.3	747.4	767.8	802	848.1	896.6
Change	-	9.14%	13.9%	13.26%	10.15%	12.33%	11.72%	16.97%	10.87%	12.23%	10.9%	11.79%	9.01%	8.05%	8.65%	9.16%	5.7%	5.37%	7.17%	5.92%	1.14%	5.02%	6.18%	5.52%	2.73%	4.46%	5.75%	5.72%
EBITDA ¹	14.8	13.11	13.28	25.75	22.03	30.98	28.87	32.97	32.33	37.64	49.12	53.98	62.2	78.41	102	103.7	118.6	139.5	146.8	155.6	152.4	167.5	181.4	190.9	196.1	215.6	231.6	245
Change	-	-11.45%	1.28%	93.92%	-14.45%	40.64%	-6.79%	14.17%	-1.92%	16.41%	30.5%	9.89%	15.23%	26.07%	30.08%	1.65%	14.36%	17.67%	5.24%	5.96%	-2.01%	9.87%	8.31%	5.23%	2.73%	9.94%	7.41%	5.82%
EBIT ¹	10.88	8.339	7.821	19.66	14.79	22.9	20.61	23.95	22.34	27.21	38.1	42.1	48.83	63.88	86	89.71	103.2	121.8	127.5	134.1	127.8	140.8	153.5	161.7	164.6	177.3	190.4	203.1
Change	-	-23.34%	-6.21%	151.31%	-24.75%	54.84%	-10%	16.19%	-6.7%	21.76%	40.04%	10.5%	15.99%	30.82%	34.63%	4.31%	15%	18.1%	4.69%	5.18%	-4.75%	10.2%	9.03%	5.34%	1.79%	7.7%	7.44%	6.64%
Charge d'intérêts ¹	-	-	-	-	-	-	-13.63	-13.84	-14.04	-14.25	1.473	-1.331	-1.333	-1.383	-2.494	-3.159	-3.605	-2.764	-3.604	-3.143	-3.4	-3.471	-3.257	-3.4	-3.4	-3.4	-3.4	-3.9
Earnings before Tax (EBT) ¹	-28.44	-18.92	-49.09	-54.51	-65.87	-56.62	-80.18	-88.32	-98.26	-101.9	-95.15	-63.42	-53.76	-39.36	-26.03	-24.49	-20.5	20.87	-5.104	-4.414	-16.66	0.8575	-0.2856	10.44	8.051	24.1	22.49	33.65
Change	-	-33.48%	159.53%	11.03%	20.84%	-14.04%	41.6%	10.16%	11.25%	3.7%	-6.62%	-33.35%	-15.22%	-26.79%	-33.88%	-5.92%	-16.26%	-	-	-13.52%	-277.53%	-	-	-	-22.91%	199.31%	-6.65%	49.58%
Net income ¹	-29.15	-19.34	-49.55	-55.01	-67.54	-58.46	-81.02	-90.8	-100.4	-101.4	-97.65	-68.16	-57.45	-46.05	-30.67	-33.48	-28.47	19.12	-14.88	-12.05	-33.57	-23.93	-22.68	-21.7	-20.43	-8.048	-10.66	-15.43
Change	-	-33.67%	156.24%	11.01%	22.79%	-13.45%	38.6%	12.07%	10.59%	0.98%	-3.7%	-30.2%	-15.71%	-19.85%	-33.38%	9.16%	-14.97%	-	-	-19%	-178.55%	28.7%	5.22%	4.32%	5.86%	60.61%	-32.51%	-44.72%
Announcement Date	2/20/20	5/28/20	9/9/20	12/2/20	2/25/21	5/25/21	9/9/21	11/30/21	2/24/22	5/26/22	9/8/22	12/1/22	3/2/23	6/1/23	9/5/23	11/27/23	2/29/24	5/30/24	9/3/24	12/2/24	-	-	-	-	-	-	-	-

¹USD in Million

Estimates

Forecast Balance Sheet: Zscaler, Inc.

balance-sheet-analysis-chart ZSCALER-INC

Fiscal Period: Luglio	2020	2021	2022	2023	2024	2025	2026	2027
Net Debt ¹	-509	-589	-763	-966	-1,267	-2,258	-3,069	-4,016
Change	-	-215.72%	-229.54%	-226.61%	-231.16%	-278.16%	-235.92%	-230.86%
Announcement Date	9/9/20	9/9/21	9/8/22	9/5/23	9/3/24	-	-	-

¹USD in Million

Estimates

Cash Flow Forecast: Zscaler, Inc.

Fiscal Period: Luglio	2020	2021	2022	2023	2024	2025	2026	2027
CAPEX ¹	43.07	48.16	69.3	97.2	144.6	230.8	239.1	248.6
Change	-	11.82%	43.87%	40.26%	48.76%	59.62%	3.58%	3.98%
Free Cash Flow (FCF) ¹	27.51	143.7	252.6	333.6	585	642.3	821.9	1,039
Change	-	422.55%	75.74%	32.07%	75.33%	9.8%	27.96%	26.45%
Announcement Date	9/9/20	9/9/21	9/8/22	9/5/23	9/3/24	-	-	-

¹USD in Million

Estimates

Forecast Financial Ratios: Zscaler, Inc.

Fiscal Period: Luglio	2020	2021	2022	2023	2024	2025	2026	2027
Profitability
EBITDA Margin (%)	11.05%	15.99%	13.94%	18.34%	23.46%	24.76%	25.9%	26.67%
EBIT Margin (%)	6.94%	11.58%	10.23%	14.89%	20.4%	21.07%	21.93%	23.26%
EBT Margin (%)	-26.14%	-38.21%	-35.16%	-11.29%	-1.35%	-0.89%	1.82%	5.24%
Net margin (%)	-26.69%	-38.93%	-35.77%	-12.51%	-2.66%	-3.37%	-0.95%	0.46%
FCF margin (%)	6.38%	21.36%	23.16%	20.63%	26.98%	24.35%	25.83%	26.95%
FCF / Net Income (%)	-23.9%	-54.86%	-64.73%	-164.88%	-1,013.67%	-722.44%	-2,718.52%	5,889.92%
Profitability
ROA	-9.44%	-12.81%	-15.33%	8.6%	12.22%	9.75%	10.02%	9.86%
ROE	8.2%	14.93%	18.38%	42.67%	50.83%	31.29%	28.28%	25.91%
Financial Health
Leverage (Debt/EBITDA)	-	-	-	-	-	-	-	-
Debt / Free cash flow	-	-	-	-	-	-	-	-
Capital Intensity
CAPEX / Current Assets (%)	9.99%	7.16%	6.35%	6.01%	6.67%	8.75%	7.51%	6.45%
CAPEX / EBITDA (%)	90.38%	44.75%	45.57%	32.77%	28.43%	35.34%	29%	24.17%
CAPEX / FCF (%)	156.58%	33.51%	27.43%	29.13%	24.72%	35.93%	29.09%	23.92%
Items per share
Cash flow per share ¹	0.6133	1.489	2.285	3.19	4.88	4.954	5.934	7.342
Change	-	142.85%	53.41%	39.61%	52.98%	1.53%	19.79%	23.72%
Dividend per Share ¹	-	-	-	-	-	-	-	-
Change	-	-	-	-	-	-	-	-
Book Value Per Share ¹	3.749	4.297	4.069	4.927	8.355	11.64	15.41	20.02
Change	-	14.62%	-5.3%	21.09%	69.58%	39.29%	32.45%	29.86%
EPS ¹	-0.89	-1.93	-2.77	-1.4	-0.39	-0.5092	-0.1172	0.2375
Change	-	116.85%	43.52%	-49.46%	-72.14%	30.57%	-76.99%	-302.71%
Nbr of stocks (in thousands)	130,518	136,987	141,863	145,891	151,149	153,439	153,439	153,439
Announcement Date	9/9/20	9/9/21	9/8/22	9/5/23	9/3/24	-	-	-