Zscaler (ZS) Free Cash Flow (2017 - 2026)

Zscaler's (ZS) quarterly Free Cash Flow came in at $186.7 million in Q1 2026, up 17.82% year-on-year from $158.4 million in Q1 2025, and down 56.65% on a QoQ basis from $430.6 million in Q4 2025.

Zscaler (ZS) Free Cash Flow (2017 - 2026) Analysis & Trends

Zscaler (ZS) has 10 years of Free Cash Flow data on file, last reported at $186.7 million in Q1 2026.

  • On a quarterly basis, Free Cash Flow rose 17.82% year-over-year to $186.7 million in Q1 2026; TTM through Jan 2026 was $1.0 billion, a 28.21% increase from a year earlier, with the FY2025 full-year figure at $890.9 million, up 22.12% from the prior year.
  • Free Cash Flow for Q1 2026 stood at $186.7 million, down from $430.6 million in the prior quarter.
  • Over the last five years, Free Cash Flow for ZS reached as high as $430.6 million in Q4 2025 and fell as low as $37.5 million in Q2 2022.
  • Historically, Free Cash Flow has averaged $169.4 million across 5 years, with a median of $150.3 million in 2025.
  • On a YoY basis, Free Cash Flow climbed as much as 321.95% in 2022 and fell as far as 36.01% in 2022.
  • Year by year, Free Cash Flow stood at $120.8 million in 2022, then surged by 109.72% to $253.4 million in 2023, then gained by 21.92% to $308.9 million in 2024, then surged by 39.4% to $430.6 million in 2025, then slumped by 56.65% to $186.7 million in 2026.
  • Per Business Quant data, the three most recent Free Cash Flow figures were $186.7 million in Q1 2026, $430.6 million in Q4 2025, and $273.3 million in Q3 2025.

Peer Comparison

# Company Market Cap Enterprise Value Gross Profit (Qtr) Free Cash Flow (Qtr)
1 Microsoft 2,842.90 Bn 2,718.46 Bn 56.06 Bn 45.75 Bn
2 PagSeguro Digital 2,572.26 Bn 2,572.26 Bn 358.92 Mn 223.25 Mn
3 Oracle 329.59 Bn 297.69 Bn - -1.87 Bn
4 Repay Holdings 314.63 Bn 314.48 Bn - -
5 Palantir Technologies 294.47 Bn 286.44 Bn 1.42 Bn 891.76 Mn
6 Palo Alto Networks 227.51 Bn 222.98 Bn 1.91 Bn 384.00 Mn
7 CrowdStrike Holdings 183.28 Bn 180.18 Bn 993.68 Mn 628.76 Mn
8 Fortinet 112.44 Bn 109.14 Bn 1.49 Bn 1.02 Bn
9 Cloudflare 92.78 Bn 91.83 Bn 455.60 Mn 164.72 Mn
10 Zscaler 22.71 Bn 19.35 Bn 624.49 Mn 186.68 Mn

Historic Data

Download Data
DateValue
Jan 31, 2026 186.68 Mn
Jan 31, 2026 186.68 Mn
Oct 31, 2025 430.61 Mn
Oct 31, 2025 430.61 Mn
Jul 31, 2025 273.30 Mn
Jul 31, 2025 273.30 Mn
Apr 30, 2025 150.29 Mn
Apr 30, 2025 150.29 Mn
Jan 31, 2025 158.45 Mn
Jan 31, 2025 158.45 Mn
Oct 31, 2024 308.91 Mn
Oct 31, 2024 308.91 Mn
Jul 31, 2024 248.45 Mn
Jul 31, 2024 248.45 Mn
Apr 30, 2024 96.03 Mn
Apr 30, 2024 96.03 Mn
Jan 31, 2024 131.68 Mn
Jan 31, 2024 131.68 Mn
Oct 31, 2023 253.38 Mn
Oct 31, 2023 253.38 Mn