$174.45
-57.0% vs S&P 12m
Business overview
Zero Trust Exchange + ZIA/ZPA; expanding into data protection and AI security.
Cloud-native zero trust leader; AI inspection / data exfil controls are the next wedge.
Products
- ZIA
- ZPA
- ZDX
- Data Protection
Customers (1)
- Large enterprises
Competitors (3)
- Cisco
- Cloudflare
- Netskope
Composite score
Higher = stronger overall research case
Fundamental68
Technical31
Valuation39
AI relevance60
Risk-adjusted (higher = safer)57
Segment-relative fundamental percentile: 67
Synthetic 1Y price action
Deterministic price series; 50d (yellow) and 200d (orange) MAs shown
3M RS: -5.1%6M RS: -52.2%12M RS: -57.0%Vol30d: 69%DD52w: -48.1%
Financial summary
Curated, illustrative
Revenue
$3.00B
Growth (YoY)
25.9%
Gross margin
76.6%
Operating margin
-6.2%
FCF
$1.02B
Capex
$93.07M
Net cash / (debt)
$1.65B
ROIC
-1.4%
Customer conc.
Medium
Valuation
Market cap
$28.05B
Enterprise value
$26.40B
P/E (TTM)
—
Forward P/E
38.1x
EV / Sales
8.8x
EV / EBITDA
50.0x
P / FCF
27.5x
PEG
1.9x
Rule of 40
53.0%
Risks
Severity 1 (low) to 5 (severe)
- 3Customer NRR trends
Score components
What drove the composite
Growth80
Profitability25
Cash generation94
Balance sheet91
Moat / AI relevance62
Capital intensity (higher = lighter)77
Customer diversification60
Valuation discipline (dilution)65
Trend (MA50/MA200)29
Momentum (3/6/12m)36
Relative strength31
Realized vol (higher = lower vol)28
Segment peers
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