Zscaler, Inc. (ZS) is a publicly traded company in the Technology — Software - Infrastructure industry listed on NASDAQ. This overview shows the latest price, key valuation ratios, profitability metrics and financial-health indicators used by fundamental investors.
Globally recognized, Zscaler, Inc. functions as a leading provider of cloud-based security solutions. Its core offerings include Zscaler Internet Access (ZIA), which ensures secure connectivity for a diverse range of entities – including users, servers, operational technology (OT), and IoT devices – when accessing external resources like software-as-a-service (SaaS) applications and general internet destinations.
Is Zscaler, Inc. stock overvalued or undervalued in 2026?
As of October 29, 2026, Zscaler, Inc. (ZS) trades at $255.15 with no positive earnings over the last twelve months, according to Kaplio. No valuation verdict: it has no earnings to calculate a P/E from.
Kaplio overview: Zscaler, Inc.
Market cap $42B · 52 weeks $118 – $336 (26 % below the high) · P/E no earnings · 2027 expected P/E 52.3× · Dividend none · Next earnings November 24, 2026 · expected EPS $1.16 · Closing price, Oct 29 · accounts published Sep 3.
- Valuation: P/Sales 10.7× (no earnings).
- Business: ROIC −3 % (weak).
- Balance sheet: Net debt/EBITDA 5.0× (fragile).
- Earnings: 8 of 8 (uneven).
What would it be worth at its usual multiples?
No valuation verdict: it has no earnings to calculate a P/E from.
What matters in technology: 5 of 8 pass
- ROIC −2.7 %, fails.
- SBC / Revenue 24.5 %, fails.
- Net debt / EBITDA 5.0×, fails.
- 3y revenue growth 23.3 %, passes.
- Rule of 40 (SaaS only) 49, passes.
- Gross margin 76.8 %, passes, near the threshold.
- FCF / Revenue 25.4 %, passes.
- EV/EBITDA vs own 5y 221.6×, passes.
Against its peers (reference peers) — Zscaler, Inc.: P/E —; EV/EBITDA —; ROIC -2.7 %; $41.6B. Fortinet, Inc. (P/E 45.2×; EV/EBITDA 33.4×; ROIC 31.1 %; $102B), Check Point Software Technologies Ltd. (P/E 15.7×; EV/EBITDA 17.5×; ROIC 13.9 %; $15.7B), Akamai Technologies, Inc. (P/E 35.8×; EV/EBITDA 17.1×; ROIC 3.0 %; $14.3B).
Profitability
| Return on Equity | -2.76% |
| Return on Invested Capital | -2.68% |
| Return on Assets | -0.80% |
| Gross Margin | 76.80% |
| Operating Margin | -3.98% |
| Net Margin | -1.88% |
Financial Health
| Debt / Equity | 0.71 |
| Current Ratio | 1.70 |
| Piotroski F-Score | 4 |
| Altman Z-Score | 3.22 |
Price Performance
| 1 month | +24.27% |
| 3 months | +63.90% |
| Year-to-date | +10.18% |
| 1 year | -23.05% |
| 3 years | +56.17% |
| 5 years | -22.28% |
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Explore sector: Technology · Software - Infrastructure
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