Zscaler (ZS) Return on Capital Employed (2018 - 2026)
Zscaler's (ZS) quarterly Return on Capital Employed came in at 3.4% in Q1 2026, up 217.0% year-on-year from 1.07% in Q1 2025, and down 5.33% on a QoQ basis from 3.23% in Q4 2025.
Zscaler (ZS) Return on Capital Employed (2018 - 2026) Analysis & Trends
Zscaler (ZS) has 9 years of Return on Capital Employed data on file, last reported at 3.4% in Q1 2026.
- On a quarterly basis, Return on Capital Employed rose 217.0% year-over-year to 3.4% in Q1 2026; TTM through Jan 2026 was 3.4%, a 217.0% increase from a year earlier, with the FY2025 full-year figure at 4.1%, up 754.0% from the prior year.
- Return on Capital Employed for Q1 2026 stood at 3.4%, down from 3.23% in the prior quarter.
- Over the last five years, Return on Capital Employed for ZS reached as high as 3.23% in Q4 2025 and fell as low as 21.2% in Q3 2022.
- Historically, Return on Capital Employed has averaged 10.85% across 5 years, with a median of 9.07% in 2024.
- Across the five-year window, Return on Capital Employed slumped 724 bps in 2022 and surged 901 bps in 2024, its largest moves.
- Year by year, Return on Capital Employed stood at 18.7% in 2022, then jumped by 47 bps to 9.85% in 2023, then surged by 38 bps to 6.09% in 2024, then surged by 47 bps to 3.23% in 2025, then decreased by 5 bps to 3.4% in 2026.
- Per Business Quant data, the three most recent Return on Capital Employed figures were 3.4% in Q1 2026, 3.23% in Q4 2025, and 3.72% in Q3 2025.
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | ROCE (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 2,842.90 Bn | 2,718.46 Bn | 56.06 Bn | 27.43% |
| 2 | PagSeguro Digital | 2,572.26 Bn | 2,572.26 Bn | 358.92 Mn | 54.07% |
| 3 | Oracle | 329.59 Bn | 297.69 Bn | - | 9.73% |
| 4 | Repay Holdings | 314.63 Bn | 314.48 Bn | - | - |
| 5 | Palantir Technologies | 294.47 Bn | 286.44 Bn | 1.42 Bn | 24.39% |
| 6 | Palo Alto Networks | 227.51 Bn | 222.98 Bn | 1.91 Bn | 8.75% |
| 7 | CrowdStrike Holdings | 183.28 Bn | 180.18 Bn | 993.68 Mn | -4.62% |
| 8 | Fortinet | 112.44 Bn | 109.14 Bn | 1.49 Bn | 40.10% |
| 9 | Cloudflare | 92.78 Bn | 91.83 Bn | 455.60 Mn | -5.85% |
| 10 | Zscaler | 22.71 Bn | 19.35 Bn | 624.49 Mn | -3.40% |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | -3.40% |
| Oct 31, 2025 | -3.23% |
| Jul 31, 2025 | -3.72% |
| Apr 30, 2025 | -6.14% |
| Jan 31, 2025 | -5.57% |
| Oct 31, 2024 | -6.09% |
| Jul 31, 2024 | -9.07% |
| Apr 30, 2024 | -5.88% |
| Jan 31, 2024 | -8.71% |
| Oct 31, 2023 | -9.85% |
| Jul 31, 2023 | -12.56% |
| Apr 30, 2023 | -14.89% |
| Jan 31, 2023 | -17.50% |
| Oct 31, 2022 | -18.70% |
| Jul 31, 2022 | -21.20% |
| Apr 30, 2022 | -20.01% |
| Jan 31, 2022 | -17.84% |
| Oct 31, 2021 | -15.46% |
| Jul 31, 2021 | -14.43% |
| Apr 30, 2021 | -12.77% |