Zscaler, Inc. Ratios | P/E, ROE & Valuation

On the Key Ratios page for Zscaler, Inc. (ZS), the latest P/E of -312.4 frames valuation, while ROE -3.71% and ROIC -3.22% indicates profitability and capital efficiency. Together with the current ratio of 1.86 and debt-to-equity 0.79, these signals help you judge whether valuation is supported by fundamentals across the historical rows.

Financial Performance Ratios

ZS Historical Per Share Metrics

10 years
Metric (FY)TTM202520242023202220212020201920182017
Revenue per Share$19.74$17.31$14.49$11.16$7.74$4.96$3.33$2.45$2.98$1.21
Net Income per Share$-0.48$-0.27$-0.39$-1.40$-2.77$-1.93$-0.89$-0.23$-0.53$-0.34
Operating Cash Flow per Share$6.85$6.33$5.21$3.19$2.28$1.49$0.61$0.47$0.27$-0.06
Free Cash Flow per Share$5.97$4.73$3.91$2.30$1.64$1.06$0.21$0.23$0.03$-0.14
Cash per Share$22.02$23.14$16.11$14.49$12.29$11.08$10.60$2.95$4.67$0.85
Book Value per Share$14.72$11.65$8.52$5.00$4.07$3.90$3.75$2.50$3.76$0.48
Tangible Book Value per Share$6.72$8.64$5.30$4.21$3.29$3.23$3.33$2.37$3.76$0.48
Interest Debt per Share$11.65$11.70$8.36$8.40$7.82$7.50$7.04$0.00$0.00$0.00
CAPEX per Share$0.88$1.59$1.30$0.89$0.64$0.43$0.40$0.24$0.24$0.08

ZS Historical Valuation Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Price to Earnings (P/E)-312.38-1063.01-464.91-114.89-55.42-122.13-145.88-363.39-67.04-96.44
Price to Book (P/B)10.1824.5121.0632.0637.7260.5134.6433.759.3968.62
Price to Sales (P/S)7.6416.4912.3814.3819.8247.5438.9434.3811.8627.2
Enterprise Value to EBITDA206.35386.96411.21-302.33-118.08-308.98-364.935053.51-190.31-120.09
EV to Sales7.9216.2712.2914.3419.8548.5740.7134.1311.1526.5
EV to Operating Cash Flow22.8244.5334.1650.1767.29161.8221.34178.1122.5-553.53
EV to Free Cash Flow26.1759.5145.5569.5293.63227.43638.21370.87992.07-234.74
Enterprise Value$25.13B$43.50B$26.64B$23.19B$21.66B$32.69B$17.56B$10.33B$2.12B$3.33B

ZS Historical Profitability Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Return on Equity (ROE)-3.71%-2.31%-4.53%-27.90%-68.08%-49.54%-23.74%-9.29%-14.01%-71.15%
Return on Invested Capital (ROIC)-3.22%-7.11%-8.78%-11.33%-19.32%-13.57%-6.80%-6.67%-10.45%-57.59%
Return on Tangible Assets-1.33%-0.70%-1.37%-5.79%-14.34%-12.09%-6.47%-4.87%-7.51%-19.39%
Earnings Yield-0.32%-0.09%-0.22%-0.87%-1.80%-0.82%-0.69%-0.28%-1.49%-1.04%
Free Cash Flow Yield3.96%1.66%2.18%1.44%1.07%0.45%0.16%0.27%0.09%-0.42%
Dividend Yield0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

ZS Historical Liquidity & Financial Strength

10 years
Metric (FY)TTM202520242023202220212020201920182017
Current Ratio1.862.011.091.881.992.573.731.892.121.19
Interest Coverage-13.49-13.49-9.46-31.59-5.79-3.89-18.88000
Income Quality-14.23-23.55-13.51-2.29-0.82-0.77-0.69-2.03-0.510.17
Debt to Equity0.7910.971.671.821.821.87000
Debt to Assets26.22%27.98%26.31%33.55%36.92%42.73%49.37%0.00%0.00%0.00%
Net Debt to EBITDA7.22-5.27-2.860.67-0.18-6.51-15.87-38.3812.173.17

ZS Historical Efficiency Ratios

10 years
Metric (FY)TTM202520242023202220212020201920182017
Receivables Turnover4.342.692.942.782.732.622.923.243.093.22
Payables Turnover21.8713.1820.5819.619.312.0118.559.687.747.3
Inventory Turnover0000000000
Days Sales Outstanding84.01135.48124.01131.52133.74139.42124.91112.5118.25113.38
Days Payables Outstanding16.6927.717.7418.6139.2330.419.6737.7247.1750
Days of Inventory on Hand0000000000

ZS Historical Market Metrics

10 years
Metric (FY)TTM202520242023202220212020201920182017
Enterprise Value to EBITDA206.35386.96411.21-302.33-118.08-308.98-364.935053.51-190.31-120.09
Market Cap$24.25B$44.09B$26.83B$23.25B$21.63B$32.00B$16.79B$10.41B$2.26B$3.42B
Enterprise Value$25.13B$43.50B$26.64B$23.19B$21.66B$32.69B$17.56B$10.33B$2.12B$3.33B
Dividend Yield0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
Payout Ratio0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%

Frequently Asked Questions

Is Zscaler, Inc. stock overvalued based on its P/E ratio?

On this page, you can use the latest P/E (from the Key Ratios table) as your starting point and compare it to the company's multi-year P/E range in the historical rows. When the current P/E sits near its historical average, valuation may be broadly "in line." Investors typically then focus on trend direction (whether profitability and cash-flow metrics are improving) and balance-sheet risk (liquidity and leverage) rather than treating the P/E in isolation.

What is Zscaler, Inc. market cap?

Market cap is the market value of a company's equity and is commonly calculated as share price multiplied by shares outstanding. The latest market cap shown in the table is $24.25B. Pair market cap with valuation multiples (P/E, P/B, P/S) so you can evaluate whether size also corresponds with "quality" and profitability. For a wider view across stocks, you can also use the stock screener.

What is a good P/E ratio for Zscaler, Inc. compared to its industry?

There isn't one universal "good" P/E - P/E should be judged against the business model and expected growth for its sector. A practical approach is: (1) compare the P/E on this page to Zscaler, Inc.'s own historical range (shown across the table's rows), and (2) benchmark against peer companies using the Screener's P/E filters and the Peers Comparison/Compare tools. If profitability (ROE/ROIC) and cash-flow strength are improving, a higher P/E can be more defensible; if returns are slipping, even a lower P/E may be a value trap.

How does Zscaler, Inc. compare to its competitors in key financial ratios?

The fastest way to compare Zscaler, Inc. with competitors is to use the built-in "Peers Comparison" section on this page and the Compare tool. Focus on a small set of ratios that work together: P/E for valuation, ROE/ROIC for profitability and capital efficiency, current ratio and interest coverage for liquidity and solvency, and debt-to-equity for leverage risk. When you see Zscaler, Inc. outperform peers on profitability while keeping valuation and leverage reasonable, it often signals stronger fundamentals.

Is Zscaler, Inc. financially strong based on its ratios?

To assess whether Zscaler, Inc. is financially strong, review both profitability and balance-sheet risk together. Current ratio is about 1.86, which is above 1.0 and can indicate more comfortable short-term liquidity. Interest coverage is about -13.49, implying less buffer for servicing interest costs. Debt-to-equity is about 0.79, suggesting leverage is more moderate relative to a high-debt profile. Then confirm the same story is supported by ROE/ROIC (quality of earnings) and by cash-flow backed metrics in the table.

What do Zscaler, Inc.'s financial ratios say about its future growth?

Ratios are a way to see what the business is likely to sustain. Look for upward trends in profitability metrics (ROE and ROIC), improving earnings/cash-flow backed measures, and stable or strengthening liquidity. If Zscaler, Inc. is sustaining strong returns (for example ROE at -3.71% and ROIC at -3.22%) while debt levels and interest coverage remain manageable, growth expectations may be more credible. If valuation multiples expand while returns weaken, the market may be pricing optimistic growth ahead of results.