Zscaler (ZS) FCF Margin (2017 - 2026)

Zscaler (ZS) has 10 years of FCF Margin data on file, last reported at 22.91% in Q1 2026.

• FCF Margin for Q1 2026 came in at 22.91%, down 155.0% year-over-year; the trailing twelve-month figure through Jan 2026 was 31.93% (up 58.0% YoY), and the FY2025 annual result was 30.23%, up 93.0% from the prior year.
• FCF Margin declined to 22.91% in Q1 2026 per ZS's latest filing, from 54.64% in the prior quarter.
• Over five years, FCF Margin peaked at 54.64% in Q4 2025 and troughed at 13.41% in Q1 2022.
• A 5-year average of 28.27% and a median of 24.9% in 2024 frame the typical range for FCF Margin.
• The sharpest annual moves came in 2022 and 2023: FCF Margin tumbled 1589 bps in 2022, then soared 2197 bps in 2023.
• A 5-year view of FCF Margin shows it stood at 29.04% in 2022, then soared by 76 bps to 51.01% in 2023, then slipped by 4 bps to 49.19% in 2024, then increased by 11 bps to 54.64% in 2025, then tumbled by 58 bps to 22.91% in 2026.
• Business Quant data shows ZS's FCF Margin at 22.91% in Q1 2026, 54.64% in Q4 2025, and 26.49% in Q3 2025.