Zscaler (ZS) Operating Margin (2017 - 2026)
Zscaler (ZS) posted Operating Margin of -3.98% for FY2026 (year ended Jul 31, 2026), up 0.83 percentage points from -4.81% in FY2025.
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Analysis
Zscaler (ZS) Operating Margin (2017 - 2026) Analysis & Trends
Since FY2016, Zscaler has reported Operating Margin for 11 fiscal years.
- Annual Operating Margin has increased for five consecutive fiscal years, with a five-year change of +26.90 percentage points (FY2021 to FY2026).
- The FY2026 figure stands as the highest annual Operating Margin in data going back to FY2016.
- Business Quant data shows ZS's Operating Margin at -4.81% in FY2025 (+0.80 pp), -5.60% in FY2024 (+8.91 pp), -14.51% in FY2023 (+15.50 pp) and -30.01% in FY2022 (+0.86 pp).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Operating Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Palo Alto Networks | 277.52 Bn | 262.59 Bn | 2.30 Bn | 5.04% |
| 2 | CrowdStrike Holdings | 249.50 Bn | 229.90 Bn | 1.10 Bn | -2.26% |
| 3 | Fortinet | 133.40 Bn | 119.33 Bn | 1.64 Bn | 33.66% |
| 4 | Snowflake | 117.12 Bn | 104.44 Bn | 1.04 Bn | -17.00% |
| 5 | Datadog | 94.86 Bn | 76.51 Bn | 881.34 Mn | 0.49% |
| 6 | Okta | 36.37 Bn | 26.46 Bn | 641.00 Mn | 13.29% |
| 7 | Zscaler | 35.35 Bn | 21.47 Bn | - | - |
| 8 | Axon Enterprise | 33.67 Bn | 28.19 Bn | 546.45 Mn | 5.17% |
| 9 | MongoDB | 29.54 Bn | 20.01 Bn | 569.77 Mn | 3.68% |
| 10 | F5 | 25.93 Bn | 20.34 Bn | 711.51 Mn | 24.65% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jan 31, 2026 | -6.35% |
| Oct 31, 2025 | -4.61% |
| Jul 31, 2025 | -4.48% |
| Apr 30, 2025 | -3.75% |
| Jan 31, 2025 | -6.20% |
| Oct 31, 2024 | -4.88% |
| Jul 31, 2024 | -4.55% |
| Apr 30, 2024 | -0.54% |
| Jan 31, 2024 | -8.66% |
| Oct 31, 2023 | -9.27% |
| Jul 31, 2023 | -9.79% |
| Apr 30, 2023 | -13.31% |
| Jan 31, 2023 | -16.83% |
| Oct 31, 2022 | -19.43% |
| Jul 31, 2022 | -25.95% |
| Apr 30, 2022 | -30.19% |
| Jan 31, 2022 | -32.84% |
| Oct 31, 2021 | -32.26% |
| Jul 31, 2021 | -34.20% |
| Apr 30, 2021 | -24.86% |
API Access
Zscaler Operating Margin 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=operating-margin&ticker=ZS&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-margin", "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=operating-margin&ticker=ZS&period=max&api_key=YOUR_API_KEY");
const data = await res.json();