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Asset Utilization RatioAssets AverageEBIT MarginEBITDA MarginEBT MarginEnterprise ValueEquity AverageEquity RatioFCF MarginGross MarginInterest Coverage RatioInvested CapitalNet MarginOperating MarginReturn on AssetsReturn on Capital EmployedReturn on EquityReturn on Invested CapitalReturn on SalesTimes Interest Earned

Zscaler (ZS) Operating Margin (2017 - 2026)

Zscaler has reported Operating Margin over the past 10 years, most recently at 6.35% for Q1 2026.

  • Quarterly Operating Margin fell 15.0% to 6.35% in Q1 2026 from the year-ago period, while the trailing twelve-month figure was 4.86% through Jan 2026, down 70.0% year-over-year, with the annual reading at 4.81% for FY2025, 80.0% up from the prior year.
  • Operating Margin was 6.35% for Q1 2026 at Zscaler, down from 4.61% in the prior quarter.
  • Over five years, Operating Margin peaked at 0.54% in Q2 2024 and troughed at 32.84% in Q1 2022.
  • The 5-year median for Operating Margin is 8.66% (2024), against an average of 11.86%.
  • Year-over-year, Operating Margin tumbled -534bps in 2022 and then skyrocketed 1688bps in 2023.
  • A 5-year view of Operating Margin shows it stood at 19.43% in 2022, then soared by 52bps to 9.27% in 2023, then soared by 47bps to 4.88% in 2024, then increased by 6bps to 4.61% in 2025, then tumbled by -38bps to 6.35% in 2026.
  • Per Business Quant, the three most recent readings for ZS's Operating Margin are 6.35% (Q1 2026), 4.61% (Q4 2025), and 4.48% (Q3 2025).