Zscaler (ZS) Share-based Compensation (2017 - 2026)
Zscaler (ZS) posted quarterly Share-based Compensation of $29.3 million for Q1 2026, up 106.7% year-over-year from $14.2 million in Q1 2025, and down 46.5% quarter-over-quarter from $54.8 million in Q4 2025.
Zscaler (ZS) Share-based Compensation (2017 - 2026) Analysis & Trends
Zscaler (ZS) has reported Share-based Compensation for 10 consecutive years, with $29.3 million the latest figure, recorded in Q1 2026.
- In Q1 2026, Share-based Compensation rose 106.7% year-over-year to $29.3 million; the TTM figure through Jan 2026 stood at $722.4 million (up 156.92% YoY), while the FY2025 annual figure was $661.4 million, up 25.33% from the prior year.
- Share-based Compensation declined to $29.3 million in Q1 2026 per ZS's latest filing, from $54.8 million in the prior quarter.
- Across five years, Share-based Compensation topped out at $473.7 million in Q3 2024 and bottomed at -$293.6 million in Q3 2023.
- Historically, Share-based Compensation has averaged $74.4 million across 5 years, with a median of $15.6 million in 2023.
- Annual changes were most pronounced in 2023 — Share-based Compensation tumbled 980.68% — and 2024, when it surged 14444.85%.
- Zscaler's Share-based Compensation stood at $10.4 million in 2022, then surged by 50.31% to $15.6 million in 2023, then slumped by 43.05% to $8.9 million in 2024, then jumped by 516.48% to $54.8 million in 2025, then sank by 46.5% to $29.3 million in 2026.
- Business Quant data shows ZS's Share-based Compensation at $29.3 million in Q1 2026, $54.8 million in Q4 2025, and $172.7 million in Q3 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Share-based Compensation (Qtr) |
|---|---|---|---|---|---|
| 1 | Microsoft | 3,679.34 Bn | 3,546.58 Bn | 60.48 Bn | 3.12 Bn |
| 2 | Oracle | 433.50 Bn | 402.15 Bn | - | 4.70 Bn |
| 3 | Palantir Technologies | 418.20 Bn | 408.90 Bn | 1.64 Bn | 265.21 Mn |
| 4 | Palo Alto Networks | 312.41 Bn | 309.30 Bn | 2.03 Bn | 643.00 Mn |
| 5 | Fortinet | 117.38 Bn | 113.31 Bn | 1.64 Bn | 79.30 Mn |
| 6 | Cloudflare | 101.74 Bn | 97.57 Bn | 499.52 Mn | 159.87 Mn |
| 7 | Synopsys | 80.70 Bn | 78.49 Bn | 1.77 Bn | 144.60 Mn |
| 8 | CoreWeave | 58.00 Bn | 52.46 Bn | 1.70 Bn | 6.37 Bn |
| 9 | Block | 49.79 Bn | 43.33 Bn | 3.17 Bn | 259.75 Mn |
| 10 | Zscaler | 29.48 Bn | 26.12 Bn | 624.49 Mn | 29.34 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jan 31, 2026 | 29.34 Mn |
| Jan 31, 2026 | 29.34 Mn |
| Oct 31, 2025 | 54.83 Mn |
| Oct 31, 2025 | 54.83 Mn |
| Jul 31, 2025 | 172.65 Mn |
| Jul 31, 2025 | 172.65 Mn |
| Apr 30, 2025 | 465.61 Mn |
| Apr 30, 2025 | 465.61 Mn |
| Jan 31, 2025 | 14.19 Mn |
| Jan 31, 2025 | 14.19 Mn |
| Oct 31, 2024 | 8.89 Mn |
| Oct 31, 2024 | 8.89 Mn |
| Jul 31, 2024 | 473.67 Mn |
| Jul 31, 2024 | 473.67 Mn |
| Apr 30, 2024 | -215.56 Mn |
| Apr 30, 2024 | -215.56 Mn |
| Jan 31, 2024 | 253.95 Mn |
| Jan 31, 2024 | 253.95 Mn |
| Oct 31, 2023 | 15.62 Mn |
| Oct 31, 2023 | 15.62 Mn |