Zscaler (ZS) Margins & Profitability 2020-2026

Gross, EBITDA, operating, and net margin trends

Margins

Profit margins across the income statement

Gross Margin: 76.7%
EBITDA Margin: 14.8%
Op. Margin: -1.7%
Net Margin: -0.4%

Op. margin of -1.7% is up 2.8% YoY — cost efficiency is improving. Net margin at -0.4% and gross margin of 76.7% show how much of each revenue dollar survives to profit.

Gross Margin (%)

Revenue left after direct cost of goods sold

EBITDA Margin (%)

Operating profitability independent of capital structure

Operating & Net Margins (%)

How much of each dollar becomes profit