Zscaler (ZS)
Information Technology · Cloud-native security / zero trust networking
Cloud-native security platform replacing traditional firewalls and VPNs to enable secure, seamless access to the internet and SaaS applications in a mobile, cloud-first, and AI-enabled world.
What Zscaler does
Zscaler provides a cloud-native security platform that replaces traditional perimeter security architectures (firewalls and VPNs) with internet-based access. The company generates revenue primarily through subscriptions to its cloud platform on a per-user and metered-usage basis, with customers spanning over 9,400 enterprises, government agencies, and organizations across 185 countries. The platform enables secure access to cloud applications, data, and the internet from any device anywhere, addressing the security gaps created by cloud adoption, workforce mobility, and AI transformation.
Themes: ["Cloud security / zero trust","Network transformation","AI-driven security threats","Digital transformation / cloud adoption","Mobile and remote workforce security","SaaS application protection"]
Fundamentals
- Price$145.78 as of 2026-07-09 close
- Market cap$23.2B as of 2026-07-09
- 1-year return-54.1% as of 2026-07-09 close
- Net margin-2.4% as of 2026-07-09
- Gross margin+76.7% as of 2026-07-09
- ROE-3.7% as of 2026-07-09
- Debt / equity0.72 as of 2026-07-09
- Revenue growth (YoY)+24.6% as of 2026-07-09
- Revenue CAGR (3y)+34.8% SEC XBRL
- Beta0.93 as of 2026-07-09
Key risks (from latest filing)
["Macroeconomic uncertainty and elongated enterprise deal cycles—customers are requiring multiple approvals for large expenditures, extending sales timelines and impacting deal velocity.","Company is unprofitable and expects to continue incurring losses as it invests in sales, marketing, R&D, and legal matters—ability to achieve profitability remains uncertain.","High dependence on cloud adoption and digital transformation trends; failure to keep pace with AI-driven security threats could impact platform relevance and competitive position."]
Competitors & peers
Fundamentals: Finnhub, as of 2026-07-09. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-07-09.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & Finnhub, shown with their as-of date.