Zscaler (ZS) Gross Margin (2017 - 2026)
Zscaler (ZS) reported Gross Margin of 76.55% for Q1 2026, down 53.0% year-over-year from 162.88% in Q1 2025, and little changed quarter-over-quarter from 76.56% in Q4 2025.
Zscaler (ZS) Gross Margin (2017 - 2026) Analysis & Trends
Zscaler (ZS) has 10 years of Gross Margin data on file, last reported at 76.55% in Q1 2026.
- Gross Margin for Q1 2026 came in at 76.55%, down 53.0% year-over-year; the trailing twelve-month figure through Jan 2026 was 76.53% (down 123.0% YoY), and the FY2025 annual result was 76.87%, down 112.0% from the prior year.
- Gross Margin held at 76.55% in Q1 2026 per ZS's latest filing, from 76.56% in the prior quarter.
- Over five years, Gross Margin peaked at 78.61% in Q2 2024 and troughed at 76.05% in Q3 2025.
- A 5-year average of 77.45% and a median of 77.43% in 2023 frame the typical range for Gross Margin.
- The sharpest annual moves came in 2022 and 2025: Gross Margin soared 160 bps in 2022, then tumbled 199 bps in 2025.
- A 5-year view of Gross Margin shows it stood at 78.43% in 2022, then slipped by 1 bps to 77.57% in 2023, then fell by 0 bps to 77.47% in 2024, then dropped by 1 bps to 76.56% in 2025, then fell by 0 bps to 76.55% in 2026.
- Business Quant data shows ZS's Gross Margin at 76.55% in Q1 2026, 76.56% in Q4 2025, and 76.05% in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,095.86 Bn | 3,017.59 Bn | 56.06 Bn | 67.63% |
| 2 | Alarum Technologies | 1,030.32 Bn | 1,016.16 Bn | 7.23 Mn | 61.73% |
| 3 | Oracle | 614.12 Bn | 575.54 Bn | 15.14 Bn | 88.06% |
| 4 | Palantir Technologies | 324.44 Bn | 316.52 Bn | 1.42 Bn | 86.78% |
| 5 | Palo Alto Networks | 189.07 Bn | 184.54 Bn | 1.91 Bn | 73.59% |
| 6 | CrowdStrike Holdings | 168.14 Bn | 165.09 Bn | 993.68 Mn | 76.12% |
| 7 | Fortinet | 106.89 Bn | 103.59 Bn | 1.49 Bn | 80.29% |
| 8 | Cloudflare | 88.20 Bn | 87.25 Bn | 455.60 Mn | 71.21% |
| 9 | Synopsys | 88.13 Bn | 88.01 Bn | 1.77 Bn | 73.54% |
| 10 | Zscaler | 20.81 Bn | 17.30 Bn | 624.49 Mn | 76.55% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | 76.55% |
| Oct 31, 2025 | 76.56% |
| Jul 31, 2025 | 76.05% |
| Apr 30, 2025 | 77.00% |
| Jan 31, 2025 | 77.08% |
| Oct 31, 2024 | 77.47% |
| Jul 31, 2024 | 78.04% |
| Apr 30, 2024 | 78.61% |
| Jan 31, 2024 | 77.68% |
| Oct 31, 2023 | 77.57% |
| Jul 31, 2023 | 77.43% |
| Apr 30, 2023 | 77.11% |
| Jan 31, 2023 | 77.40% |
| Oct 31, 2022 | 78.43% |
| Jul 31, 2022 | 78.52% |
| Apr 30, 2022 | 77.68% |
| Jan 31, 2022 | 77.39% |
| Oct 31, 2021 | 77.37% |
| Jul 31, 2021 | 76.92% |
| Apr 30, 2021 | 77.90% |