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-over-year from $158.4 million in Q1 2025, and down 56.65% quarter-over-quarter from $430.6 million in Q4 2025.
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Analysis
Zscaler (ZS) Free Cash Flow (2017 - 2026) Analysis & Trends
Zscaler (ZS) has reported Free Cash Flow for 10 consecutive years, with $186.7 million the latest figure, recorded 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 $958.1 million, a 26.19% increase from a year earlier, with the FY2026 full-year figure at $852.4 million, up 5.46% from the prior year.
- Free Cash Flow was $186.7 million for Q1 2026 at Zscaler, down from $430.6 million in the prior quarter.
- Over five years, Free Cash Flow peaked at $430.6 million in Q4 2025 and troughed at $34.3 million in Q1 2022.
- A 5-year average of $152.5 million and a median of $137.8 million in 2024 frame the typical range for Free Cash Flow.
- The widest YoY moves for Free Cash Flow: up 165.99% in 2022, down 15.23% in 2022.
- Over 5 years, Free Cash Flow stood at $103.3 million in 2022, then soared by 124.83% to $232.1 million in 2023, then soared by 33.06% to $308.9 million in 2024, then jumped by 39.4% to $430.6 million in 2025, then slumped by 56.65% to $186.7 million in 2026.
- The last three Free Cash Flow figures came in at $186.7 million (Q1 2026), $430.6 million (Q4 2025), and $190.6 million (Q3 2025), per Business Quant data.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | FCF (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 320.54 Bn | 317.47 Bn | 2.30 Bn | 1.25 Bn |
| 2 | CrowdStrike Holdings | 268.77 Bn | 263.80 Bn | 1.10 Bn | 405.86 Mn |
| 3 | Fortinet | 131.12 Bn | 127.05 Bn | 1.64 Bn | 965.60 Mn |
| 4 | Snowflake | 118.02 Bn | 115.67 Bn | 1.04 Bn | 88.27 Mn |
| 5 | Datadog | 90.27 Bn | 85.29 Bn | 881.34 Mn | 288.59 Mn |
| 6 | Axon Enterprise | 36.61 Bn | 35.93 Bn | 546.45 Mn | -972,000.00 |
| 7 | Zscaler | 34.97 Bn | 31.49 Bn | - | - |
| 8 | MongoDB | 34.51 Bn | 32.10 Bn | 569.77 Mn | 138.71 Mn |
| 9 | Okta | 34.32 Bn | 32.02 Bn | 641.00 Mn | 228.00 Mn |
| 10 | Baidu | 30.55 Bn | 8.15 Bn | 1.76 Mn | 2.18 Bn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | 186.32 Mn |
| Oct 31, 2025 | 430.97 Mn |
| Jul 31, 2025 | 190.56 Mn |
| Apr 30, 2025 | 138.92 Mn |
| Jan 31, 2025 | 164.42 Mn |
| Oct 31, 2024 | 314.31 Mn |
| Jul 31, 2024 | 154.17 Mn |
| Apr 30, 2024 | 137.76 Mn |
| Jan 31, 2024 | 111.18 Mn |
| Oct 31, 2023 | 232.15 Mn |
| Jul 31, 2023 | 108.87 Mn |
| Apr 30, 2023 | 82.23 Mn |
| Jan 31, 2023 | 70.80 Mn |
| Oct 31, 2022 | 103.26 Mn |
| Jul 31, 2022 | 81.89 Mn |
| Apr 30, 2022 | 49.64 Mn |
| Jan 31, 2022 | 34.27 Mn |
| Oct 31, 2021 | 86.82 Mn |
| Jul 31, 2021 | 30.79 Mn |
| Apr 30, 2021 | 58.56 Mn |
API Access
Zscaler Free Cash Flow 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=free-cash-flow&ticker=ZS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "free-cash-flow", "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=free-cash-flow&ticker=ZS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();