Zscaler (ZS) FCF Margin (2017 - 2026)

Zscaler (ZS) has 10 years of FCF Margin data on file, last reported at 22.88% in Q1 2026.

• On a quarterly basis, FCF Margin fell 157.0% year-over-year to 22.88% in Q1 2026; TTM through Jan 2026 was 34.68%, a 116.0% increase from a year earlier, with the FY2025 full-year figure at 33.33%, down 32.0% from the prior year.
• FCF Margin for Q1 2026 stood at 22.88%, down from 54.64% in the prior quarter.
• Over the last five years, FCF Margin for ZS reached as high as 54.64% in Q4 2025 and fell as low as 13.06% in Q2 2022.
• Historically, FCF Margin has averaged 30.78% across 5 years, with a median of 25.08% in 2024.
• On a YoY basis, FCF Margin climbed as much as 2522 bps in 2022 and fell as far as 2013 bps in 2022.
• Year by year, FCF Margin stood at 33.98% in 2022, then jumped by 50 bps to 51.01% in 2023, then fell by 4 bps to 49.19% in 2024, then advanced by 11 bps to 54.64% in 2025, then tumbled by 58 bps to 22.88% in 2026.
• Per Business Quant data, the three most recent FCF Margin figures were 22.88% in Q1 2026, 54.64% in Q4 2025, and 38.0% in Q3 2025.