Zscaler (ZS) Invested Capital (2023 - 2025)
Zscaler's Invested Capital was $1.8 billion in fiscal Q4 2025 (quarter ended Jul 31, 2025), down 25.5% from $2.42 billion a year earlier and down 39.1% from the prior quarter.
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Analysis
Zscaler (ZS) Invested Capital (2023 - 2025) Analysis & Trends
From fiscal Q4 2023 onward, Zscaler has reported Invested Capital for 6 quarters.
- In earlier fiscal years, Invested Capital was $2.42 billion in FY2024 (+233.2%) and $725.11 million in FY2023.
- The fiscal Q4 2025 figure marks the lowest quarterly Invested Capital since fiscal Q4 2023.
- Per Business Quant data, ZS's Invested Capital in the three fiscal quarters before Q4 2025 was $2.95 billion (Q3 2025), $2.75 billion (Q2 2025) and $2.57 billion (Q1 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Invested Cap. (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 261.23 Bn | 246.30 Bn | 2.30 Bn | - |
| 2 | CrowdStrike Holdings | 233.89 Bn | 214.29 Bn | 1.10 Bn | 5.89 Bn |
| 3 | Fortinet | 125.38 Bn | 111.31 Bn | 1.64 Bn | 2.05 Bn |
| 4 | Snowflake | 108.45 Bn | 95.77 Bn | 1.04 Bn | - |
| 5 | Datadog | 88.65 Bn | 70.29 Bn | 881.34 Mn | - |
| 6 | Zscaler | 33.05 Bn | 19.16 Bn | - | - |
| 7 | Okta | 32.99 Bn | 23.09 Bn | 641.00 Mn | 6.97 Bn |
| 8 | Axon Enterprise | 32.35 Bn | 26.87 Bn | 546.45 Mn | 5.41 Bn |
| 9 | MongoDB | 27.25 Bn | 17.72 Bn | 569.77 Mn | - |
| 10 | F5 | 25.14 Bn | 19.55 Bn | 711.51 Mn | - |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jul 31, 2025 | 1.80 Bn |
| Apr 30, 2025 | 2.95 Bn |
| Jan 31, 2025 | 2.75 Bn |
| Oct 31, 2024 | 2.57 Bn |
| Jul 31, 2024 | 2.42 Bn |
| Jul 31, 2023 | 725.11 Mn |
API Access
Zscaler Invested Capital 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=invested-capital&ticker=ZS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "invested-capital", "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=invested-capital&ticker=ZS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();