Zscaler バランスシートの健全性
財務の健全性 基準チェック /66
Zscalerの総株主資本は$2.2B 、総負債は$1.7Bで、負債比率は77.6%となります。総資産と総負債はそれぞれ$6.8Bと$4.6Bです。
主要情報
77.63%
負債資本比率
US$1.70b
負債
| インタレスト・カバレッジ・レシオ | n/a |
| 現金 | US$3.51b |
| エクイティ | US$2.20b |
| 負債合計 | US$4.56b |
| 総資産 | US$6.75b |
財務の健全性に関する最新情報
更新なし
Recent updates
ナラティブの更新 • May 23
ZS: AI Security And Platform Expansion Will Drive Long Term Upside
Analysts have trimmed the fair value estimate for Zscaler to about $309 from roughly $320, reflecting a slightly higher discount rate and lower future P/E multiples, even as they point to steady revenue growth expectations, improving profit margins, and ongoing interest in secure network access, AI related offerings, and platform expansion highlighted in recent research updates. Analyst Commentary Recent Street research on Zscaler reflects a mix of target cuts and reaffirmed positive views, with many firms citing broader software multiple compression rather than company specific issues as the main driver of lower price targets.Seeking Alpha • May 15
Zscaler: A Cloud Security Contender At An Attractive Entry Point
Summary Zscaler offers a compelling risk-reward profile after a 34% YTD decline, with fundamentals remaining robust and valuation now attractive. ZS is positioned to benefit from secular zero-trust security adoption, boasting 23%+ revenue growth, ~32% FCF margins, and a $1.65bn net cash buffer. I see 49% upside over 2.2 years driven by market share gains, margin expansion, and potential multiple re-rating as AI becomes an enabler, not a threat. Risks include net retention deterioration, hyperscaler competition, macro headwinds, and unmonetized AI features, but ZS’s strategic AI investments and execution reinforce its long-term thesis. Read the full article on Seeking Alpha
ナラティブの更新 • May 03
ZS: Future Returns Will Rely On Zero Trust AI Security Adoption
Analysts have trimmed the Zscaler fair value estimate by about $3 to roughly $228, reflecting lower price targets across the Street as peer security multiples reset, while still highlighting healthy core fundamentals and product momentum. Analyst Commentary Recent research on Zscaler reflects a mixed but engaged analyst community, with widespread price target reductions alongside generally constructive views on the core business, product pipeline, and longer term opportunities in zero trust and AI security.
新しいナラティブ • Apr 20
Zscaler (ZS): The Zero Trust Sovereign and the AI Transaction Surge
Zscaler (ZS) , the pioneer of the cloud-native Zero Trust Exchange, enters Monday, April 20, 2026 , as a company navigating a stark contrast between stellar operational execution and a brutal valuation reset. Trading at $134.67 USD —up slightly on the day but down roughly 42% year-to-date —the stock is attempting to find a floor after a dramatic "air pocket" in the enterprise software sector.ナラティブの更新 • Apr 18
ZS: Future Returns Will Rely On Zero Trust AI Security Leadership
Analysts have trimmed the Zscaler fair value estimate from about $304 to $230 as they recalibrate price targets in line with lower peer multiples, slightly softer growth and margin assumptions, and ongoing sector wide multiple compression, even as many still highlight healthy core fundamentals and long term opportunities. Analyst Commentary Recent research on Zscaler reflects a mixed but generally constructive view, with many firms cutting price targets while maintaining positive ratings.ナラティブの更新 • Apr 04
ZS: Zero Trust AI Security And Data Sovereignty Set To Drive Upside
The analyst price target for Zscaler is adjusted slightly lower to $320.14, reflecting peer multiple compression across cybersecurity software. At the same time, analysts continue to highlight a healthy core business, expanding platform opportunities such as Red Canary and Agentic Exchange, and supportive views on AI security demand from recent research.ナラティブの更新 • Mar 21
ZS: Zero Trust AI Security And Data Sovereignty Will Drive Future Upside
Analysts have trimmed the average price target for Zscaler, reflecting sector wide multiple compression. They continue to highlight a healthy core business, improving go to market execution, and new opportunities such as Red Canary and Agentic Exchange.ナラティブの更新 • Mar 06
ZS: Zero Trust And AI Security Plus AI Defense Will Drive Future Upside
The analyst price target for Zscaler in our model has been revised lower from about $389 to about $326 as analysts factor in more moderate revenue growth assumptions, slightly higher discount rates, improved margin expectations, and lower future P/E multiples amid broader multiple compression across security software peers. Analyst Commentary Recent Street research on Zscaler reflects a mix of reduced price targets and generally supportive ratings, with many firms maintaining positive views on execution, margins, and the long term opportunity despite sector wide multiple compression.ナラティブの更新 • Feb 20
ZS: Future Returns Will Rely On Zero Trust AI Security Leadership
Narrative Update: Zscaler We trim our Zscaler fair value estimate by about $13 to $304, reflecting lower assumed profit margins and a slightly less aggressive future P/E multiple, while analysts broadly reduce price targets on the stock even as they continue to highlight its Zero Trust leadership, AI security exposure, and potential for earnings beats. Analyst Commentary Recent Street research on Zscaler has shifted toward lower price targets, but most firms still frame the company as a key Zero Trust and AI security player with ongoing execution questions rather than a broken growth story.
新しいナラティブ • Feb 11
AI Security And Zero Trust Execution Risks Will Challenge Progress Yet Still Support Long-Term Upside
Catalysts About Zscaler Zscaler provides cloud delivered security services that help enterprises protect users, data and applications. What are the underlying business or industry changes driving this perspective?ナラティブの更新 • Feb 05
ZS: Future Returns Will Rely On Expanding Zero Trust AI Security Adoption
Analysts have lowered their price targets for Zscaler by roughly $40 to $50, placing them in the $300 to $320 range. This reflects survey feedback on security budgets, shifts in peer multiples, and mixed read-throughs from recent ARR and emerging product trends.ナラティブの更新 • Jan 22
ZS: Future Returns Will Rely On Expanding Zero Trust And AI Security Demand
Analysts have nudged their implied price expectations for Zscaler lower, trimming the fair value estimate by about US$10 to US$318.35. Recent cuts and modest increases in price targets across firms reflect more cautious views on security spending, peer multiples and competitive trends, even as research notes still point to solid ARR performance and interest in emerging products.ナラティブの更新 • Jan 07
ZS: Zero Trust And AI Security Momentum Will Drive Long Term Upside
Analysts have nudged our Zscaler fair value estimate higher to about US$389 from US$385, reflecting a blend of slightly softer modeled revenue growth, modestly better margin expectations, and updated price targets that balance mixed ARR disclosure with continued confidence in emerging product traction and long term Zero Trust and AI security demand. Analyst Commentary Street research around the latest quarter paints a largely constructive picture, with price targets moving in both directions but commentary skewing toward confidence in Zscaler's execution on growth initiatives, especially in Zero Trust, AI Security, and Data Security offerings.ナラティブの更新 • Dec 15
ZS: Future Returns Will Rely On Expanding Demand For Zero Trust Security
Analysts have modestly trimmed our Zscaler price target by a low single digit percentage to reflect slightly higher discount rates and a more balanced interpretation of Q1 results. Strong ARR growth and traction in emerging products were partially offset by mixed guidance, underwhelming bottom line performance, and uneven disclosure around inorganic contributions.分析記事 • Dec 02
Zscaler, Inc.'s (NASDAQ:ZS) 27% Share Price Plunge Could Signal Some Risk
Zscaler, Inc. ( NASDAQ:ZS ) shareholders won't be pleased to see that the share price has had a very rough month...ナラティブの更新 • Dec 01
ZS: Future Returns Will Rely On Sustained Demand For Cybersecurity Solutions
Zscaler's analyst price target saw a marginal increase of $0.25. Analysts cited solid emerging product traction and improved profit margin expectations, despite mixed operational results.ナラティブの更新 • Nov 17
ZS: Future Share Performance Will Depend On Cybersecurity Demand And Competitive Dynamics
Zscaler's analyst-driven fair value estimate has increased slightly to $327.98 per share. This reflects ongoing optimism among analysts about continued growth opportunities in cybersecurity and resilient fundamentals, despite sector volatility.ナラティブの更新 • Sep 04
Zero Trust And AI Security Will Unlock Future Markets
Analysts maintained Zscaler’s price target at $324.66, as robust Q4 results, platform leadership, and ongoing ARR growth balanced heightened concerns over valuation and FY26 growth visibility. Analyst Commentary Bullish analysts highlighted Zscaler’s strong fiscal Q4 results, consistent beats across key metrics, and positive initial FY26 guidance as validation of robust growth momentum and a solid go-to-market strategy.分析記事 • Aug 17
Is Now An Opportune Moment To Examine Zscaler, Inc. (NASDAQ:ZS)?
NasdaqGS:ZS 1 Year Share Price vs Fair Value Explore Zscaler's Fair Values from the Community and select yours Let's...分析記事 • Jun 27
A Look At The Fair Value Of Zscaler, Inc. (NASDAQ:ZS)
Key Insights The projected fair value for Zscaler is US$291 based on 2 Stage Free Cash Flow to Equity Zscaler's US$314...Seeking Alpha • Mar 27
Zscaler: Downgrading On Anticipated Slowdown In Growth
Summary Zscaler is a leading cybersecurity firm riding long-term tailwinds. The company delivered 23% YoY revenue growth and expanded non-GAAP operating margins to 21.7%. Management has suggested optimism, but I am skeptical and expect revenue growth to decelerate to 16-18% in the upcoming fiscal year. I am downgrading the stock on valuation. Read the full article on Seeking AlphaSeeking Alpha • Mar 07
Zscaler: The Q2 Earnings Look Great, But I Keep My 'Hold' In Place
Summary Zscaler's Q2 FY2025 earnings exceeded expectations with strong sales, billings, and customer growth, showcasing robust unit economics and profitability improvements. Despite positive results, Wall Street analysts lowered Q3 expectations, contrasting with management's raised guidance and bullish outlook on Zero Trust architecture and AI solutions. Zscaler's valuation remains high, trading at a significant premium compared to the IT sector, raising concerns about overvaluation despite strong growth prospects. I maintain a "Hold" rating due to potential risks from overvaluation, despite Zscaler's impressive performance and growth potential in the Zero Trust and AI markets. Read the full article on Seeking AlphaSeeking Alpha • Feb 23
Zscaler: Out With The New, In With The Old (Revisited)
Summary In December 2021, I recommended selling Zscaler and buying Check Point Software; recent performance supports this thesis. Zscaler's P/E ratio is exorbitantly high, even worse when including dilutive shares, indicating the stock is overvalued despite revenue growth. Check Point Software, with positive earnings and stock buybacks, presents a far more attractive P/E ratio and better value proposition. Zscaler faces increasing competition, and its revenue growth is slowing, making Check Point the more prudent investment choice. Read the full article on Seeking AlphaSeeking Alpha • Feb 05
Zscaler: Anticipate Diminishing Returns With Slowdown In Growth
Summary Zscaler's customer growth has slowed significantly, from 24% in 2021 to 12% in 2024, amid intense competition from Palo Alto Networks and Cloudflare. Declining Dollar-based net retention rate, from 125% during Covid to 114% in Q1'25, signals future revenue slowdown as deferred revenue is realized. Headwinds include lack of a broader portfolio, reduced need for hybrid workforce security, and discretionary IT budgets shifting towards GenAI. Expansion to SASE market will be challenging due to incumbent SD-WAN players expanding their portfolio to offer SSE services. Despite strong margins and a solid financial position, Zscaler's premium valuation is no longer justified due to anticipated growth saturation and competitive pressures. Read the full article on Seeking AlphaSeeking Alpha • Jan 03
Zscaler: The Next Long-Term Winner In Cybersecurity
Summary Amidst a frothy tech market, Zscaler is curiously performing weakly. I expect the company to achieve GAAP profitability on a sustainable basis some time this year. Management's guidance suggests billings growth acceleration in the second half, with a full-year revenue growth forecast of 21.8%. The current valuation looks more than reasonable even assuming some conservatism. Read the full article on Seeking Alpha
新しいナラティブ • Dec 08
AI-Powered Zero Trust Exchange Platform Will Accelerate Revenue And Margin Growth
Expansion in AI solutions and strategic customer deals position Zscaler for increased market share and improved net margins.Seeking Alpha • Dec 03
Zscaler: The Market Got It Wrong After Earnings
Summary Zscaler's Q3 earnings showcased strong financial performance, with revenue up 26% YoY and a record 21% non-GAAP operating margin. The company's innovation-driven strategy and robust customer base, including Fortune 500 and Global 2000 companies, position it well for long-term growth. ZS's raised full-year guidance and strong financial flexibility, backed by a $2.7 billion cash pile, highlight management's confidence in sustained growth. Competitive risks and potential market volatility exist, but Zscaler's intrinsic value per share at $315 suggests a 65% upside from the current price. Read the full article on Seeking AlphaSeeking Alpha • Nov 12
Zscaler: A Compelling Long-Term Investment
Summary Zscaler, a leading cloud security company, exhibits strong financial health with high recurring revenue, robust customer retention, and impressive free cash flow margins. Despite slowing YoY revenue growth, Zscaler's valuation remains justified due to its high FCF margins and stable, recurring revenue from a growing customer base. The company's strategic shift to an account-centric sales approach and focus on upselling opportunities position it well for future growth. While facing fierce competition and macroeconomic challenges, Zscaler's leadership in a growing market and innovative solutions make it a compelling long-term investment. Read the full article on Seeking AlphaSeeking Alpha • Oct 21
Zscaler's Valuation Woes: A Case For Selling
Summary Zscaler, a cloud security company, offers the Zero Trust Exchange platform, targeting enterprise customers and surpassing $2B in annual recurring revenue in FY2023. The Zero Trust Network Access model addresses VPN limitations by providing cloud-native, identity-based access to specific applications, enhancing security, and reducing on-prem setup needs. Despite a strong position in the Zero-Trust market, Zscaler faces decelerating revenue growth, increased competition, and a declining Net Retention Rate, raising concerns about its high valuation. Given the steep valuation, competition, and lack of GAAP profitability, I recommend a Sell call on Zscaler, contingent on its ability to capitalize on cross-selling opportunities. Read the full article on Seeking AlphaSeeking Alpha • Oct 04
Zscaler: GAAP Profitability And The Pursuit Of Alpha
Summary Zscaler reported strong Q4 results with 30% YoY revenue growth and significant margin expansion. The stock has faced pressure from management's conservative billings guidance, but growth is accelerated to pick up in the back half of the year. Zscaler has a net cash balance sheet and is close to sustainable GAAP profitability. Despite potential volatility, I reiterate my buy rating due to confidence in Zscaler's ability to deliver market-beating returns moving forward. Read the full article on Seeking Alpha財務状況分析
短期負債: ZSの 短期資産 ( $4.5B ) が 短期負債 ( $2.3B ) を超えています。
長期負債: ZSの短期資産 ( $4.5B ) が 長期負債 ( $2.2B ) を上回っています。
デット・ツー・エクイティの歴史と分析
負債レベル: ZS総負債よりも多くの現金を保有しています。
負債の削減: ZSの負債対資本比率は、過去 5 年間で176.5%から77.6%に減少しました。
貸借対照表
キャッシュ・ランウェイ分析
過去に平均して赤字であった企業については、少なくとも1年間のキャッシュ・ランウェイがあるかどうかを評価する。
安定したキャッシュランウェイ: 利益は出ていないものの、 ZSは現在のプラスの フリーキャッシュフロー レベルを維持すれば、3 年以上は十分な キャッシュランウェイ を有しています。
キャッシュランウェイの予測: ZSは利益は出ていませんが、フリーキャッシュフローがプラスであり、年間40.4 % 増加しているため、3 年以上は十分なキャッシュランウェイがあります。
健全な企業の発掘
企業分析と財務データの現状
| データ | 最終更新日（UTC時間） |
|---|---|
| 企業分析 | 2026/05/25 22:26 |
| 終値 | 2026/05/22 00:00 |
| 収益 | 2026/01/31 |
| 年間収益 | 2025/07/31 |
データソース
企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。
| パッケージ | データ | タイムフレーム | 米国ソース例 |
|---|---|---|---|
| 会社財務 | 10年 |
| |
| アナリストのコンセンサス予想 | +プラス3年 |
|
|
| 市場価格 | 30年 |
| |
| 所有権 | 10年 |
| |
| マネジメント | 10年 |
| |
| 主な進展 | 10年 |
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* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。
特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。
分析モデルとスノーフレーク
本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。
シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。
業界およびセクターの指標
私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。
アナリスト筋
Zscaler, Inc. 47 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。65
| アナリスト | 機関 |
|---|---|
| Shrenik Kothari | Baird |
| Saket Kalia | Barclays |
| Rahul Chopra | Berenberg |