Zscaler Inc risk profile
53 Elevated one input has moved against it
Measured 20 October 2026 from ZS's filed statements. Recomputed nightly.
53 (Elevated), driven by Concentration at 92, over 6 weighted categories on the SOFTWARE profile.
What is measured
| Mechanism | Reading | Band | Direction | Driver |
|---|---|---|---|---|
| Market expectation | 67 | Stretched | Volatile | One-year price volatility — 66.7% |
| Operating pressure | 26 | Normal | Worsening | Costs outgrowing revenue — -1.4 percentage points |
| Cash conversion | 21 | Normal | Worsening | Capital spending against operating cash — 0.31x |
| Leverage and coverage | 40 | Elevated | Worsening | Net debt to EBITDA — 5.20x |
| Competitive position | 39 | Normal | Stable | Operating-margin gap against peers — -13.8 percentage points |
| Concentration | 92 | Acute | Stable | Customer concentration — 7,225 HHI |
These are descriptive readings of disclosed mechanisms, not investment advice, and not a prediction. A band says where a measured input sits, never what to do about it or what happens next.