Zscaler, Inc. (ZS)财务
NASDAQ · Technology · Software - Infrastructure · 员工8,700人 · CEO Jagtar Singh Chaudhry
- 股价
- $237.83 -4.03%
- 市值
- $388亿
- 企业价值
- $397亿
- 最近财报
- Q4 '26 2026-09-03提交
- 下次财报
- 2026-11-24 EPS预期 $1.16
营收(TTM)$33.5亿+25.4% 对比去年同期最近4个季度;柱状图=各季度
营业利润率(TTM)-4.0%+0.6 百分点 对比去年同期营业利润 -$1.33亿
净利润(TTM)-$6320万-52.3% 对比去年同期税后,含营业外收益
自由现金流(TTM)$8.52亿+17.3% 对比去年同期资本支出 $2.77亿
稀释EPS(TTM)-$0.39-46.7% 对比去年同期最近4个季度之和
净现金$16.2亿-8.9% 对比去年同期现金 + 短期投资 - 债务
估值与关键数据
- 市值
- $388亿 EV $397亿
- 营收
- $33.5亿 过去12个月
- 营收增速
- +17% FY2027年一致预期
- 净利润率
- -1.9% 净利润 / 营收,TTM
- P/E
- -609.8× 预期 48.7×(FY2027)
- P/S
- 11.6× 股价 / 营收,TTM
- EV / EBITDA
- 212.8× TTM
- 自由现金流
- $8.52亿 过去12个月
- 净利润
- -$6320万 过去12个月
- 营收预期
- $39.3亿 FY2027年一致预期
- 盈利
- 2026-11-24 营收预期 $9.38亿
- 股息
- – 无股息
核心要点
根据披露数据计算,每条结论都附有其依据的数字。
- 最近财报(2026-09-03):营收超预期2.4%,EPS 超预期9.2%营收$8.98亿,预期$8.77亿(+2.4%);EPS $1.19,预期$1.09(+9.2%)。
- 营收增长平稳:同比24.9%Q4 '26营收$8.98亿,此前四个季度的平均值为24.5%。
- 营业利润率-4.0%(TTM),较去年同期+0.6 百分点营收增长25.4%,营业利润增长-7.9%。
- 资本支出占营收的8.3%(去年为9.2%)最近4个季度投入$2.77亿(同比+12.8%)。自由现金流$8.52亿。
- 稀释股数一年内增加2.4%Q4 '26稀释股数1.6亿,一年前为1.56亿。
- 净现金 $16.2亿现金 + 短期投资 $34.7亿,含租赁债务 $18.6亿;一年前净现金 $17.8亿。
上一季度:Q4 '26
截至2026-07-31的季度。与去年同期及财报发布前的分析师一致预期对比。
本季度与去年同期
| Q4 '26 | 去年同期 | 变化 | |
|---|---|---|---|
| 营收 | $8.98亿 | $7.19亿 | +24.9% |
| 毛利率 | 76.7% | 76.1% | +0.6 百分点 |
| 营业利润 | -$1550万 | -$3220万 | +52.0% |
| 营业利润率 | -1.7% | -4.5% | +2.8 百分点 |
| 净利润 | -$337万 | -$1760万 | +80.8% |
| 稀释EPS | -$0.02 | -$0.11 | +81.8% |
| 经营现金流 | $2.79亿 | $2.51亿 | +11.4% |
| 资本支出 | $2.15亿 | $7870万 | +173.6% |
| 自由现金流 | $6400万 | $1.72亿 | -62.7% |
| R&D | $2.41亿 | $1.78亿 | +36.0% |
| 股权激励费用 | $2.12亿 | $1.73亿 | +22.6% |
实际 vs 一致预期
2026-09-03| 实际 | 一致预期 | 对比预期 | |
|---|---|---|---|
| 营收 | $8.98亿 | $8.77亿 | +2.4% |
| EPS(一致预期口径) | $1.19 | $1.09 | +9.2% |
来自2026-09-03发布的Q4 '26财报：营收及分析师预期口径的EPS（通常为调整后），可能与上方报表中的EPS不同。
EPS与一致预期
最近8次财报营收
收入从何而来,按业务线和地区逐季展示。
营收、营业利润与增速
季度按业务线划分的营收
堆叠,季度| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| Reportable Segment | $16.9亿 | – | 100.0% | – | – |
按地区划分的营收
占总额比例| 分部 | Q4 '26 | 同比 | 占比 | TTM | TTM同比 | 12个季度 |
|---|---|---|---|---|---|---|
| United States | $4590万 | +54.1% | 49.1% | $1.65亿 | – | |
| EMEA | $3830万 | +39.8% | 40.9% | $1.35亿 | – | |
| Asia Pacific | $782万 | +63.3% | 8.4% | $2690万 | – | |
| Other | $154万 | +17.5% | 1.6% | $598万 | – |
利润率与成本结构
每一单位营收在各层级还剩多少,成本又花在哪里。
利润率
季度成本占营收比例
季度现金流与资本配置
创造了多少现金,用在何处,又有多少回到股东手中。
经营现金流、资本支出、自由现金流
季度现金用途与经营现金流
财年最近4个季度
现金流量表- 经营现金流
- $11.3亿
- 资本支出
- -$2.77亿
- 股票回购
- $0
- 股息
- $0
- 收购
- -$9.18亿
- 债务净发行
- $0
- 股权激励费用
- $8.22亿
- 自由现金流
- $8.52亿
- 股东回报 / FCF
- -0.0%
股数与EPS
季度,稀释资产负债表
各季度末的流动性、投资和债务。
现金、投资与债务
季度末估值与回报
当前估值倍数与公司自身过去五个财年对比;分析师目标价与评级。
估值倍数与回报
TTM与过去5个财年| 当前 | 5年均值 | 当前处于5年区间的位置 | |
|---|---|---|---|
| P/E(TTM) | -609.8× | – | – |
| EV / EBITDA | 212.8× | 311.0× 5年中的3年 | 134.8× – 411.2× |
| EV / 营收 | 11.8× | 14.1× | 7.5× – 19.9× |
| 股价 / FCF | 45.5× | 59.6× | 28.4× – 93.5× |
| 股价 / 净资产 | 14.7× | 24.9× | 9.3× – 37.7× |
| FCF收益率 | 2.2% | 2.0% | 1.1% – 3.5% |
| 投入资本回报率 | -2.7% | -7.9% | -19.0% – -2.7% |
| 净资产收益率 | -2.8% | -21.0% | -68.1% – -2.3% |
分析师
一致目标价 $222.58 (-6.4%)
区间 $150.00 – $298.00 · 评级 Buy
强烈买入0
买入44
持有10
卖出1
强烈卖出0
展望
分析师对未来财年的一致预期,以及按当前股价意味着什么。
一致预期
| 财年 | 营收 | 增速 | EPS | 增速 | 按当前股价的P/E | 分析师(EPS) |
|---|---|---|---|---|---|---|
| FY2027 | $39.3亿 | +17.1% | $4.88 | +1,350.9% | 48.7× | 26 |
| FY2028 | $45.7亿 | +16.3% | $5.60 | +14.8% | 42.5× | 25 |
| FY2029 | $53.1亿 | +16.2% | $6.55 | +17.0% | 36.3× | 7 |
| FY2030 | $61.8亿 | +16.5% | $7.43 | +13.4% | 32.0× | 2 |
| FY2031 | $71.5亿 | +15.6% | $11.17 | +50.3% | 21.3× | 6 |
财务报表
利润表、资产负债表和现金流量表的每一项,含12个季度和10个财年,以金额、占营收比例或增速展示。
全部披露项目
Zscaler, Inc.在近期10-Q / 10-K文件中标记的全部271项数据,附SEC官方标签和定义,包括附注(租赁、税务、回购、员工等)。
| 项目(SEC标签) | 最近季度 | 去年同期 | 同比 | 最近财年 | 上一财年 | 同比 |
|---|---|---|---|---|---|---|
| – | – | – | -$7.7万 | – | – | |
| – | – | – | 0.4% | – | – | |
| – | – | – | -$323万 | – | – | |
| – | – | – | $366万 | – | – | |
| Accounts Payable, Current | $4800万 | $4690万 | +2.3% | $4800万 | $4690万 | +2.3% |
| Accounts Receivable, after Allowance for Credit Loss, Current | $11.5亿 | $9.92亿 | +15.8% | $11.5亿 | $9.92亿 | +15.8% |
| Accretion (Amortization) of Discounts and Premiums, Investments | $8.7万 | $206万 | -95.8% | $466万 | $1590万 | -70.8% |
| Accrued Bonuses, Current | $6930万 | $5160万 | +34.4% | $6930万 | $5160万 | +34.4% |
| Accrued Employee Benefits, Current | $802万 | $941万 | -14.8% | $802万 | $941万 | -14.8% |
| Accrued Salaries, Current | $6170万 | $6140万 | +0.6% | $6170万 | $6140万 | +0.6% |
| Accrued Sales Commission, Current | $9560万 | $5940万 | +60.8% | $9560万 | $5940万 | +60.8% |
| Accumulated Depreciation, Depletion and Amortization, Property, Plant, and Equipment | $5.42亿 | $3.72亿 | +45.9% | $5.42亿 | $3.72亿 | +45.9% |
| Accumulated Other Comprehensive Income (Loss), Net of Tax | -$2350万 | $808万 | -391.4% | -$2350万 | $808万 | -391.4% |
| Additional Paid in Capital | $38.7亿 | $29.8亿 | +30.0% | $38.7亿 | $29.8亿 | +30.0% |
| Advertising Expense | – | – | – | $2950万 | $2990万 | -1.3% |
| Amortization of Debt Issuance Costs | – | – | – | $391万2024-07-31 | $389万 | +0.5% |
| Amortization of Debt Issuance Costs and Discounts | $205万 | $135万 | +51.9% | $817万 | $429万 | +90.2% |
| Amortization of Intangible Assets | $1230万 | $408万 | +201.0% | $4350万 | $1680万 | +158.4% |
| Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 135万 | -497万 | +127.1% | 1620万 | 1430万 | +13.3% |
| APIC, Share-based Payment Arrangement, Increase for Cost Recognition | $2.13亿 | $1.76亿 | +21.2% | $8.3亿 | $6.84亿 | +21.5% |
| Assets | $78.7亿 | $64.2亿 | +22.5% | $78.7亿 | $64.2亿 | +22.5% |
| Assets, Current | $50.3亿 | $48.9亿 | +2.8% | $50.3亿 | $48.9亿 | +2.8% |
| Capitalized Computer Software, Accumulated Amortization | $6160万2025-07-31 | $3630万 | +69.7% | $6160万2025-07-31 | $3630万 | +69.7% |
| Capitalized Computer Software, Gross | $1.25亿2025-07-31 | $7690万 | +61.9% | $1.25亿2025-07-31 | $7690万 | +61.9% |
| Capitalized Contract Cost, Amortization | $5400万 | $4480万 | +20.5% | $2.04亿 | $1.66亿 | +22.5% |
| Capitalized Contract Cost, Net | $6.18亿 | $5.1亿 | +21.3% | $6.18亿 | $5.1亿 | +21.3% |
| Capitalized Contract Cost, Net, Current | $2.16亿 | $1.81亿 | +19.2% | $2.16亿 | $1.81亿 | +19.2% |
| Capitalized Contract Cost, Net, Noncurrent | $4.02亿 | $3.29亿 | +22.4% | $4.02亿 | $3.29亿 | +22.4% |
| Cash and Cash Equivalents, at Carrying Value | $9.28亿 | $23.9亿 | -61.1% | $9.28亿 | $23.9亿 | -61.1% |
| Cash and Cash Equivalents, Fair Value Disclosure | $7.6亿 | $15.4亿 | -50.8% | $7.6亿 | $15.4亿 | -50.8% |
| Cash Equivalents, at Carrying Value | $7.6亿 | $15.4亿 | -50.8% | $7.6亿 | $15.4亿 | -50.8% |
| Cash Flow Hedge Gain (Loss) to be Reclassified within Twelve Months | $500万2026-01-31 | -$1870万 | +126.7% | $690万 | -$610万 | +213.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents | $9.28亿 | $23.9亿 | -61.1% | $9.28亿 | $23.9亿 | -61.1% |
| Cash, Cash Equivalents, Restricted Cash and Restricted Cash Equivalents, Period Increase (Decrease), Including Exchange Rate Effect | -$5380万 | $3.98亿 | -113.5% | -$14.6亿 | $9.66亿 | -251.2% |
| Common Stock, Capital Shares Reserved for Future Issuance | 6240万 | 5720万 | +9.2% | 6240万 | 5720万 | +9.2% |
| Common Stock, Par or Stated Value Per Share | $1.00 | $1.00 | 0.0% | $1.00 | $1.00 | 0.0% |
| Common Stock, Shares Authorized | 10亿 | 10亿 | 0.0% | 10亿 | 10亿 | 0.0% |
| Common Stock, Shares, Issued | 1.63亿 | 1.58亿 | +3.0% | 1.63亿 | 1.58亿 | +3.0% |
| Common Stock, Shares, Outstanding | 1.63亿 | 1.58亿 | +3.0% | 1.63亿 | 1.58亿 | +3.0% |
| Common Stock, Value, Issued | $16.3万 | $15.9万 | +2.5% | $16.3万 | $15.9万 | +2.5% |
| Comprehensive Income (Loss), Net of Tax, Attributable to Parent | -$1920万 | -$2570万 | +25.4% | -$9480万 | -$2860万 | -231.4% |
| Contract with Customer, Liability | $24.8亿2026-04-30 | $19.9亿 | +24.8% | $24.7亿2025-07-31 | $19亿 | +30.2% |
| Contract with Customer, Liability, Current | $24.8亿 | $20.5亿 | +20.7% | $24.8亿 | $20.5亿 | +20.7% |
| Contract with Customer, Liability, Noncurrent | $4.45亿 | $4.14亿 | +7.7% | $4.45亿 | $4.14亿 | +7.7% |
| Contract with Customer, Liability, Revenue Recognized | $2.77亿 | $2.11亿 | +31.2% | $20.5亿 | $16.4亿 | +25.0% |
| Convertible Notes Payable, Current | $02025-07-31 | $11.4亿 | -100.0% | $02025-07-31 | $11.4亿 | -100.0% |
| Convertible Notes Payable, Noncurrent | $17亿 | $17亿 | -0.3% | $17亿 | $17亿 | -0.3% |
| Cost of Revenue | $2.09亿 | $1.72亿 | +21.3% | $7.78亿 | $6.18亿 | +25.8% |
| Current Federal Tax Expense (Benefit) | – | – | – | $14万 | -$33.1万 | +142.3% |
| Current Foreign Tax Expense (Benefit) | – | – | – | $6190万 | $3270万 | +89.1% |
| Current Income Tax Expense (Benefit) | – | – | – | $6700万 | $3670万 | +82.5% |
| Current State and Local Tax Expense (Benefit) | – | – | – | $491万 | $427万 | +15.0% |
| Debt Instrument, Convertible, Number of Equity Instruments | – | – | – | 3,900,000 segment2025-07-31 | 7,600,000 segment | -48.7% |
| Debt Instrument, Convertible, Number of Equity Instruments | -370万2025-07-31 | 0 | – | 390万 | 390万 | 0.0% |
| Debt Issuance Costs Incurred During Noncash or Partial Noncash Transaction | – | – | – | $0 | $99.9万 | -100.0% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Gain, before Tax | $39.8万 | $189万 | -79.0% | $39.8万 | $189万 | -79.0% |
| Debt Securities, Available-for-sale, Accumulated Gross Unrealized Loss, before Tax | $1550万 | $104万 | +1,396.7% | $1550万 | $104万 | +1,396.7% |
| Debt Securities, Available-for-Sale, Amortized Cost, Maturity, Allocated and Single Maturity Date, Year One | $3.75亿 | $4.58亿 | -18.1% | $3.75亿 | $4.58亿 | -18.1% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer | $02026-04-30 | $0 | – | $02025-07-31 | $2.48亿 | -100.0% |
| Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss | $02026-04-30 | $0 | – | $02025-07-31 | $175万 | -100.0% |
来源:SEC companyfacts(每份10-Q / 10-K的XBRL)。现金流量表的季度数据由10-Q标记的年初至今累计数推算。分部拆分带有维度标记,在分部章节中单独展示。
数据来源
报表、分部营收、指标和预期均根据公司文件标准化。分部利润及全部披露项目:SEC EDGAR(XBRL)。 已读取的文件: 10-K 2026-07-31, 10-Q 2026-04-30, 10-Q 2026-01-31, 10-Q 2025-10-31, 10-K 2025-07-31, 10-Q 2025-04-30, 10-Q 2025-01-31, 10-Q 2024-10-31, 10-K 2024-07-31
数据截至 2026-11-02