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Zscaler (ZS) Operating Margin: 2017-2025

Historic Operating Margin for Zscaler (ZS) over the last 9 years, with Oct 2025 value amounting to -4.61%.

  • Zscaler's Operating Margin rose 27.00% to -4.61% in Q4 2025 from the same period last year, while for Oct 2025 it was -4.73%, marking a year-over-year decrease of 12.00%. This contributed to the annual value of -4.81% for FY2025, which is 80.00% up from last year.
  • As of Q4 2025, Zscaler's Operating Margin stood at -4.61%, which was down 2.92% from -4.48% recorded in Q3 2025.
  • Zscaler's 5-year Operating Margin high stood at -0.54% for Q2 2024, and its period low was -34.32% during Q1 2021.
  • Over the past 3 years, Zscaler's median Operating Margin value was -5.54% (recorded in 2025), while the average stood at -7.24%.
  • In the last 5 years, Zscaler's Operating Margin slumped by 630bps in 2021 and then soared by 1,688bps in 2023.
  • Quarterly analysis of 5 years shows Zscaler's Operating Margin stood at -32.26% in 2021, then spiked by 1,283bps to -19.43% in 2022, then soared by 1,016bps to -9.27% in 2023, then spiked by 439bps to -4.88% in 2024, then grew by 27bps to -4.61% in 2025.
  • Its Operating Margin stands at -4.61% for Q4 2025, versus -4.48% for Q3 2025 and -3.75% for Q2 2025.