Zscaler, Inc.

LSE:0XVU Stock Report

Market Cap: US$49.1b

Zscaler Valuation

Is 0XVU undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 0XVU when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

US$304.29
Fair Value
2.5% overvalued intrinsic discount
44
Number of Analysts

Below Fair Value: 0XVU ($311.97) is trading above our estimate of fair value ($304.29)

Significantly Below Fair Value: 0XVU is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0XVU?

Key metric: As 0XVU is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 0XVU. This is calculated by dividing 0XVU's market cap by their current revenue.
What is 0XVU's PS Ratio?
PS Ratio18.4x
SalesUS$2.67b
Market CapUS$49.05b

Price to Sales Ratio vs Peers

How does 0XVU's PS Ratio compare to its peers?

The above table shows the PS ratio for 0XVU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average15.9x
SGE Sage Group
4.4x7.75%UK£10.7b
FTNT Fortinet
10x11.04%US$63.6b
CYBR CyberArk Software
20.8x15.63%US$24.9b
CRWD CrowdStrike Holdings
28.5x17.33%US$123.9b
0XVU Zscaler
18.4x15.74%US$49.1b

Price-To-Sales vs Peers: 0XVU is expensive based on its Price-To-Sales Ratio (18.4x) compared to the peer average (15.9x).

Price to Sales Ratio vs Industry

How does 0XVU's PS Ratio compare vs other companies in the GB Software Industry?

12 CompaniesPrice / SalesEstimated GrowthMarket Cap
ZOO ZOO Digital Group
0.3xn/aUS$14.77m
ESYS essensys
0.5x-18.89%US$14.27m
S247 Smarttech247 Group
0.4x4.50%US$6.29m
PEG Petards Group
0.3xn/aUS$5.88m
0XVU 18.4xIndustry Avg. 3.1xNo. of Companies12PS0246810+
12 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 0XVU is expensive based on its Price-To-Sales Ratio (18.4x) compared to the UK Software industry average (3.1x).

Price to Sales Ratio vs Fair Ratio

What is 0XVU's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

0XVU PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio18.4x
Fair PS Ratio15.3x

Price-To-Sales vs Fair Ratio: 0XVU is expensive based on its Price-To-Sales Ratio (18.4x) compared to the estimated Fair Price-To-Sales Ratio (15.3x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 0XVU forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$311.97
US$325.37
+4.29%
10.07%US$385.00US$215.00n/a44
Oct ’26US$302.07
US$323.77
+7.18%
10.32%US$385.00US$215.00n/a44
Sep ’26US$276.00
US$315.71
+14.39%
11.83%US$385.00US$215.00n/a44
Aug ’26US$281.30
US$315.61
+12.20%
11.89%US$385.00US$215.00n/a43
Jul ’26US$306.74
US$314.35
+2.48%
11.61%US$385.00US$215.00n/a44
Jun ’26US$273.14
US$283.04
+3.62%
10.88%US$323.00US$196.23n/a43
May ’26US$230.28
US$236.83
+2.84%
7.76%US$270.00US$195.00n/a43
Apr ’26US$199.06
US$236.72
+18.92%
7.10%US$270.00US$195.00n/a42
Mar ’26US$192.99
US$227.35
+17.81%
8.99%US$270.00US$180.00n/a41
Feb ’26US$203.33
US$226.04
+11.17%
9.00%US$270.00US$180.00n/a41
Jan ’26US$179.93
US$225.77
+25.47%
8.96%US$270.00US$180.00n/a41
Dec ’25US$206.59
US$220.15
+6.57%
10.81%US$270.00US$177.00n/a41
Nov ’25US$182.66
US$213.43
+16.84%
11.60%US$270.00US$165.00n/a40
Oct ’25US$167.45
US$214.54
+28.12%
11.51%US$270.00US$165.00US$302.0739
Sep ’25US$198.44
US$231.10
+16.46%
11.80%US$290.00US$180.00US$276.0039
Aug ’25US$173.56
US$230.08
+32.56%
12.18%US$290.00US$180.00US$281.3039
Jul ’25US$197.30
US$229.92
+16.53%
12.24%US$290.00US$180.00US$306.7439
Jun ’25US$167.07
US$233.19
+39.58%
12.96%US$290.00US$180.00US$273.1440
May ’25US$173.36
US$258.52
+49.12%
9.11%US$310.00US$213.00US$230.2841
Apr ’25US$192.46
US$259.48
+34.82%
8.88%US$310.00US$213.00US$199.0640
Mar ’25US$219.72
US$257.92
+17.39%
9.47%US$310.00US$210.90US$192.9939
Feb ’25US$237.99
US$241.85
+1.62%
12.68%US$311.00US$183.00US$203.3341
Jan ’25US$222.45
US$221.54
-0.41%
11.03%US$275.00US$180.00US$179.9339
Dec ’24US$198.21
US$205.32
+3.58%
8.08%US$229.00US$165.00US$206.5938
Nov ’24US$155.30
US$184.83
+19.01%
10.13%US$225.00US$134.29US$182.6639
Oct ’24US$155.91
US$181.26
+16.26%
8.90%US$225.00US$134.29US$167.4539
US$327.56
Fair Value
4.8% undervalued intrinsic discount
44
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/13 14:22
End of Day Share Price 2025/10/10 00:00
Earnings2025/07/31
Annual Earnings2025/07/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Zscaler, Inc. is covered by 63 analysts. 46 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Shrenik KothariBaird
Saket KaliaBarclays
Joshua TiltonBerenberg