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
DateValue
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%