Zscaler (ZS) EV to CFO (2018 - 2026)
Zscaler's (ZS) quarterly EV to CFO came in at 25.67 in Q1 2026, down 19.93% year-over-year from 32.07 in Q1 2025, and down 43.48% quarter-over-quarter from 45.42 in Q4 2025.
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Analysis
Zscaler (ZS) EV to CFO (2018 - 2026) Analysis & Trends
Zscaler (ZS) has reported EV to CFO for 9 consecutive years, with 25.67 the latest figure, recorded in Q1 2026.
- On a quarterly basis, EV to CFO fell 19.93% year-over-year to 25.67 in Q1 2026; TTM through Jan 2026 was 25.67, a 19.93% decrease from a year earlier, with the FY2026 full-year figure at 18.75, down 56.21% from the prior year.
- EV to CFO was 25.67 for Q1 2026 at Zscaler, down from 45.42 in the prior quarter.
- Over five years, EV to CFO peaked at 133.45 in Q1 2022 and troughed at 25.67 in Q1 2026.
- A 5-year average of 48.95 and a median of 40.44 in 2023 frame the typical range for EV to CFO.
- Across the five-year window, EV to CFO plunged 74.7% in 2023 and soared 54.34% in 2025, its largest moves.
- Over 5 years, EV to CFO stood at 57.12 in 2022, then tumbled by 37.56% to 35.67 in 2023, then decreased by 17.48% to 29.43 in 2024, then soared by 54.34% to 45.42 in 2025, then plunged by 43.48% to 25.67 in 2026.
- The last three EV to CFO figures came in at 25.67 (Q1 2026), 45.42 (Q4 2025), and 42.81 (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) |
|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | 25.67 |
| Oct 31, 2025 | 45.42 |
| Jul 31, 2025 | 42.81 |
| Apr 30, 2025 | 34.80 |
| Jan 31, 2025 | 32.07 |
| Oct 31, 2024 | 29.43 |
| Jul 31, 2024 | 31.98 |
| Apr 30, 2024 | 33.59 |
| Jan 31, 2024 | 50.73 |
| Oct 31, 2023 | 35.67 |
| Jul 31, 2023 | 46.51 |
| Apr 30, 2023 | 26.02 |
| Jan 31, 2023 | 40.44 |
| Oct 31, 2022 | 57.12 |
| Jul 31, 2022 | 63.52 |
| Apr 30, 2022 | 102.84 |
| Jan 31, 2022 | 133.45 |
| Oct 31, 2021 | 178.12 |
| Jul 31, 2021 | 154.47 |
| Apr 30, 2021 | 128.19 |
API Access
Zscaler EV to CFO API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=ZS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "ev-to-cfo", "ticker": "ZS", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=ev-to-cfo&ticker=ZS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();