Zscaler Inc (ZS)

NASD · Technology · Software - Infrastructure · USA

Zscaler Inc is a large cap company (market value between $10 billion and $200 billion) in the Software - Infrastructure industry.

Zscaler provides a cloud-native zero trust security platform protecting enterprises, users, devices and AI agents. The company delivers comprehensive cybersecurity solutions across four key areas: Zero Trust SASE for secure networking, Security for AI enabling safe technology adoption, Data Security protecting sensitive information, and Agentic Security Operations leveraging AI for security teams. Zscaler serves enterprises and government agencies globally.

From its FY2026 annual report (Form 10-K)

Intrinsic value, DCF valuation, financial health and value investing analysis for the Zscaler Inc stock.

Our verdict on ZS

Overvalued: intrinsic value $123.58 per share, market price $212.53, margin of safety -72.0% (as of 2026-10-19).

A 6.2x revenue multiple, discounted for its losses, values the shares at $123.58; the price of $212.53 is 72% above that value.

Leak Score: 44/100 on 10 of 12 signals (On Watch).

ETFs with the most weight in ZS

17 more funds hold it; the full list is part of the paid plan.

More on ZS

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Peers in Software - Infrastructure

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Cheaper than ZS in Software - Infrastructure

43 more in this industry show a wider margin of safety.

Is ZS undervalued or overvalued?

ZS is overvalued (as of the 2026-10-19 close). A 6.2x revenue multiple, discounted for its losses, values the shares at $123.58; the price of $212.53 is 72% above that value.

What is the intrinsic value of ZS?

$123.58 per share (as of the 2026-10-19 close), against a market price of $212.53. That is a margin of safety of -72.0%. The value is the average of the valuation methods that apply to this company, recomputed every night after the US close.

What is Zscaler Inc's Leak Score?

44 out of 100, which we rate "On Watch", on 10 of 12 value investing signals.