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Zscaler free cash flow ZS

Cash from operations less capital spending, by quarter and over the last twelve months, from 2017.

Last 12 months, to Jul 31, 2026
$852.4M
Latest quarter, Q4 FY26
$79.4M
−58% on a year earlier
Fiscal year 2026
$852.4M
+5% on the year before

Zscaler's free cash flow was $852.4M over the twelve months to Jul 31, 2026, up 5% on a year earlier.

In its latest quarter, Q4 FY26, it was $79.4M, down 58% on the same quarter a year before.

Over the five fiscal years to FY2026 it grew 41% a year on average.

Free cash flow over time

Open the interactive chart, with overlays and comparisons

Fiscal year by fiscal year

Fiscal yearFree cash flowChange
FY2026$852.4M+5%
FY2025$808.2M+27%
FY2024$635.3M+74%
FY2023$365.1M+45%
FY2022$252.6M+64%
FY2021$153.9M+325%
FY2020$36.2M+11%
FY2019$32.5M+731%
FY2018$3.9Mn/a
FY2017n/an/a

Each fiscal year is the twelve months to its fourth quarter.

Quarter by quarter

QuarterEndedFree cash flowOn a year earlierLast 12 months
Q4 FY26$79.4M−58%$852.4M
Q3 FY26$155.6M+12%$963.5M
Q2 FY26$186.3M+13%$946.8M
Q1 FY26$431M+37%$924.9M
Q4 FY25$190.6M+24%$808.2M
Q3 FY25$138.9M+1%$771.8M
Q2 FY25$164.4M+48%$770.7M
Q1 FY25$314.3M+35%$717.4M
Q4 FY24$154.2M+42%$635.3M
Q3 FY24$137.8M+68%$590M
Q2 FY24$111.2M+57%$534.4M
Q1 FY24$232.1M+125%$494M

Against its peers

Companies in Software - Infrastructure nearest Zscaler's size, closest first, today.

CompanyFree cash flow yield
ZSZscaler2.0%
TWLOTwilion/m
XYZBlock8.5%
OKTAOkta2.6%
MDBMongoDB2.2%
VRSNVeriSign3.9%
CPAYCorpay6.1%
RBRKRubrik1.1%
IOTSamsara1.0%
FFIVF53.8%
PTCPTC4.4%
Peer median3.8%

What the free cash flow tells you

Cash from operations minus capital spending. The cash the company could hand back or reinvest.

Seasonal and lumpy quarter to quarter. The TTM view is the one to trust.

More on Zscaler

Valuation data, not investment advice. Prices as of . Reported figures come from the company's filings with the SEC.