Zscaler, Inc.
ZS Technology Software Infrastructure
Zscaler, Inc.’s revenue for fiscal 2026 (year ended July 2026) was $3.4 billion, up 25.4% from fiscal 2025. In the quarter to July 2026, revenue grew 24.9%, EPS grew 81.8%, free cash flow fell 64.7% and total debt was flat, each against the same quarter a year earlier. Revenue growth for ten consecutive years, operating cash flow growth for ten.
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Zscaler, Inc. (ZS) EV/Sales
As of 27 October 2026, Zscaler, Inc. (ZS) trades at a EV/Sales of 12.3×. Over the past ten years it has ranged from 0.0× (April 2018) to 66.7× (November 2021); the current reading is higher than 22% of that period. That is above the Software Infrastructure industry median of 2.9× and above the Technology sector median of 2.9×.
EV/Sales, daily
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Annual newest first
| Period | EV/Sales | Change |
|---|---|---|
| FY2026 | 7.0× | (56.62%) |
| FY2025 | 16.2× | 31.73% |
| FY2024 | 12.3× | (10.75%) |
| FY2023 | 13.8× | (27.93%) |
| FY2022 | 19.1× | (59.54%) |
| FY2021 | 47.3× | 25.23% |
| FY2020 | 37.8× | 13.91% |
| FY2019 | 33.2× | 222.42% |
| FY2018 | 10.3× | — |
| FY2017 | 0.0× | — |
Quarterly newest first
| Period | EV/Sales | Change |
|---|---|---|
| Jul 2026 | 7.0× | 9.95% |
| Apr 2026 | 6.4× | (38.77%) |
| Jan 2026 | 10.5× | (43.09%) |
| Oct 2025 | 18.4× | 13.22% |
| 33 more quarters | Free account |
Against its own ten years
EV/Sales against peers
| Company | EV/Sales |
|---|---|
| KSPI Joint Stock Company Kaspi.kz Sponsored ADR compare | 1.7× |
| XYZ Block, Inc. compare | 1.8× |
| NTAP NetApp, Inc. compare | 5.9× |
| TWLO Twilio Inc. compare | 6.7× |
| CRWV CoreWeave Inc. compare | 8.1× |
| MDB MongoDB, Inc. compare | 11.2× |
| ZS Zscaler, Inc. | 12.3× |
| OKTA Okta, Inc. compare | 12.3× |
| NBIS Nebius Group N.V. compare | 35.6× |
| Software Infrastructure industry median | 2.9× |
| Technology sector median | 2.9× |
| Market median | 2.2× |
What EV/Sales is
EV/Sales tells an investor how the value of a whole company, counting its debt and cash, compares with the sales it brings in.
((Stock Price × Shares (Basic, Weighted) (latest quarter)) + (Long Term Debt (Total) (latest quarter) + Current Part of Debt (latest quarter)) − Cash & Short Term Investments (latest quarter)) ÷ Revenue (TTM)