Zscaler Valuation Multiples

Zscaler Overview

About Zscaler

Zscaler is a software-as-a-service, or SaaS, firm focusing on providing cloud-native cybersecurity solutions to primarily enterprise customers. Zscaler’s offerings can be broadly partitioned into Zscaler Internet Access, which provides secure access to external applications, and Zscaler Private Access, which provides secure access to internal applications. The firm is headquartered in San Jose, California, and went public in 2018.

Founded

2007

HQ

Employees

7.9K

Website

zscaler.com

Sectors

CybersecurityB2B SaaSHorizontal SaaS

Financials (LTM)

Revenue: $3B

EBITDA: $801M

EV

$22B

Valuation Multiples

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Zscaler Financials

Zscaler reported last 12-month revenue of $3B and EBITDA of $801M.

In the same LTM period, Zscaler generated $2B in gross profit, $801M in EBITDA, and $620M in net income.

Zscaler P&L

In the most recent fiscal year, Zscaler reported revenue of $3B and EBITDA of $682M.

Zscaler expects next 12-month revenue of XXX and NTM EBITDA of XXX

Zscaler Stock Performance

Zscaler has current market cap of $24B, and enterprise value of $22B.

Zscaler's stock price is $148.58.

Zscaler Valuation Multiples

Zscaler trades at 7.3x EV/Revenue multiple, and 27.7x EV/EBITDA.

Zscaler Financial Valuation Multiples

As of March 9, 2026, Zscaler has market cap of $24B and EV of $22B.

Equity research analysts estimate Zscaler's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Zscaler has a P/E ratio of 38.2x.

Zscaler Margins & Growth Rates

Zscaler's revenue in the last 12 month grew by 21%.

Zscaler's revenue per employee in the last FY averaged $0.4M.

Zscaler's rule of 40 is 47% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Zscaler's rule of X is 79% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

Zscaler Public Comps

See public comps and valuation multiples for other Cybersecurity comps.

Zscaler M&A Activity

Zscaler acquired XXX companies to date.

Last acquisition by Zscaler was on XXXXXXXX, XXXXX. Zscaler acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).

Zscaler Investment Activity

Zscaler invested in XXX companies to date.

Zscaler made its latest investment on XXXXXXXX, XXXXX. Zscaler invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).