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| Date | Value |
|---|---|
| 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 |