Zscaler (ZS) Net Margin (2017 - 2026)

Zscaler (ZS) has 10 years of Net Margin data on file, last reported at 4.2% in Q1 2026.

• On a quarterly basis, Net Margin fell 301.0% year-over-year to 4.2% in Q1 2026; TTM through Jan 2026 was 2.25%, a 161.0% decrease from a year earlier, with the FY2025 full-year figure at 1.55%, up 111.0% from the prior year.
• Net Margin for Q1 2026 stood at 4.2%, down from 1.47% in the prior quarter.
• Over the last five years, Net Margin for ZS reached as high as 3.46% in Q2 2024 and fell as low as 39.31% in Q1 2022.
• Historically, Net Margin has averaged 10.6% across 5 years, with a median of 5.42% in 2024.
• Across the five-year window, Net Margin surged 2449 bps in 2023 and slumped 407 bps in 2025, its largest moves.
• Year by year, Net Margin stood at 19.17% in 2022, then jumped by 65 bps to 6.74% in 2023, then surged by 72 bps to 1.91% in 2024, then climbed by 23 bps to 1.47% in 2025, then tumbled by 185 bps to 4.2% in 2026.
• Per Business Quant data, the three most recent Net Margin figures were 4.2% in Q1 2026, 1.47% in Q4 2025, and 2.44% in Q3 2025.