Zscaler price to book ratio ZS

Market value divided by the book value of the company's net assets, since 2018.

Today, Oct 23, 2026: 16.0×
8-year median: 29.7×
Against its 8-year history: 8th; percentile: 0 is its lowest day, 100 its highest
8-year range: 8.5× to 96.7×
Peer median: 6.4×

Zscaler's price to book ratio is 16.0× as of Oct 23, 2026.

That is below its 8-year median of 29.7×, lower than on 92% of days in the last 8 years.

Over that time it ranged from 8.5× in Jun 2026 to 96.7× in Nov 2021.

The median for 10 infrastructure software stocks of a similar size is 6.4×.

Price to book ratio over time

Open the interactive chart, with overlays and comparisons

Year by year

Year	End of year	Low	High
2026 so far	16.0×	8.5×	17.7×
2025	18.5×	16.8×	29.1×
2024	19.8×	19.8×	46.8×
2023	40.7×	24.6×	45.1×
2022	37.4×	30.2×	72.1×
2021	84.9×	44.7×	96.7×
2020	54.5×	17.0×	56.0×
2019	19.4×	17.7×	38.7×
2018	19.3×	16.8×	22.6×

Against its peers

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

Company	Price to book ratio
ZSZscaler	16.0×
TWLOTwilio	4.5×
XYZBlock	2.1×
OKTAOkta	5.3×
MDBMongoDB	10.0×
VRSNVeriSign	n/m
CPAYCorpay	7.6×
RBRKRubrik	n/m
IOTSamsara	16.4×
FFIVF5	6.7×
PTCPTC	6.1×
Peer median	6.4×

What the price to book ratio tells you

Market value divided by the accounting value of the company's net assets. Below 1 means the market values the business at less than what it owns on paper.

Book value misses brands, software and people, so asset-light companies always look expensive on it. Most useful for banks and industrials.

More on Zscaler

Valuation data, not investment advice. Prices as of Oct 23, 2026. Reported figures come from the company's filings with the SEC.