Zscaler Inc (ZS) — Free Cash Flow Generation Index
Latest as of October 2025:
0.92x
Zscaler Inc (ZS) has a Free Cash Flow Generation Index of 0.92x as of October 2025. Free cash flow of $413.30 Million represents 1% of operating cash flow ($448.28 Million). Explore ZS capex reinvestment rate to see what proportion of operating cash flow is directed to capital expenditures.
FCF Generation Index
0.92x
Free Cash Flow / Operating CF
Free Cash Flow
$413.30 Million
USD
Operating Cash Flow
$448.28 Million
USD
Capital Expenditures
$34.98 Million
USD
Zscaler Inc Free Cash Flow Generation Index (2018–2025)
Historical FCF Generation Index trend for Zscaler Inc across 8 annual periods. For the full cash flow conversion analysis, see ZS cash generation efficiency.
Annual Free Cash Flow Generation for Zscaler Inc (2018–2025)
Year-by-year Free Cash Flow Generation Index for Zscaler Inc. Check ZS cash flow reinvestment rate to assess the company's total reinvestment commitment from operating cash flow.
| Year | FCG Index | Free Cash Flow (USD) | Operating CF | Capital Expenditures | YoY Change |
|---|---|---|---|---|---|
| 2025 | 0.75x | $726.69 Million | $972.45 Million | $245.76 Million | ▼ -0.4% |
| 2024 | 0.75x | $584.95 Million | $779.85 Million | $194.90 Million | ▲ +3.9% |
| 2023 | 0.72x | $333.62 Million | $462.34 Million | $128.72 Million | ▲ +0.4% |
| 2022 | 0.72x | $231.33 Million | $321.91 Million | $90.58 Million | ▲ +1.0% |
| 2021 | 0.71x | $143.74 Million | $202.04 Million | $58.30 Million | ▲ +105.1% |
| 2020 | 0.35x | $27.51 Million | $79.32 Million | $51.81 Million | ▼ -27.8% |
| 2019 | 0.48x | $27.86 Million | $58.03 Million | $30.16 Million | ▲ +288.9% |
| 2018 | 0.12x | $2.14 Million | $17.31 Million | $15.17 Million | — |
FCG Index = Free Cash Flow / Operating Cash Flow. FCF = Operating CF + Capital Expenditures (capex stored negative).