Move decomposition
Earnings contribution and valuation offset
The market move is separated into the change in trailing earnings power and the offset from relative valuation.
US Equity · NASDAQ · Earnings Dossier
ZS earnings intelligence
Zscaler IncTechnology · Software - Infrastructure · USD reporting basis
Current earnings profile
Delivery strong, expectations demanding
Results have usually cleared estimates, but price has not consistently rewarded the delivery.
Evidence99/100 · Deep
Next scheduled catalyst
Thursday 3 September 2026
After the close · Fiscal period ending 31 Jul 2026
58event risk
Elevated
Countdown21 dayscalendar proximity
EPS estimate0.06 USDprovider consensus
Estimate growth-93.3%versus comparable year-ago actual
Historical movement7.7%average absolute next weekly close
Three-year earnings transmission
Delivered earnings power versus market price
Earnings power is leading market price; the spread is stable and has persisted through 12 updates. Both series begin at 100, so the gap isolates the relative change in price and trailing earnings power.
Market move23.8%2023-08-18 to 2026-08-07
Earnings move105.0%trailing diluted EPS
Unresolved spread81.2 ptsStable
Current multiple59.2xprice divided by TTM EPS
Relationship pressure63/100Moderate
Model confidence75/100High
Relationship controls
What qualifies the headline spread
Persistent earnings lead
Earnings power has led market price across several updates.
Fresh improvement awaiting confirmation
Earnings improved at the latest reported update, but market price remains below its pre-update level.
Model qualification
The direction is sensitive to the comparison horizon.
Beat rate91.7%11 beats in 12 measured quarters
Average surprise+14.7%median 17.6%
Delivery streak11 consecutive beats
Average response-4.1%12 measured reactions
Result-price confirmation55%same directional sign
Surprise variability24.7 ptspopulation dispersion
Estimate delivery
Actual EPS versus consensus
Actual and estimated EPS are displayed in reported currency on the same quarterly basis.
Price acceptance
Surprise and next weekly close
The response uses the first completed weekly close after the public report against the prior completed weekly close.
Fundamental delivery
Quarterly revenue and net income
Reported financial statements provide scale and earnings quality context around the headline EPS result.
Transmission matrix
Does price confirm delivery?
Upper right and lower left observations confirm the sign of delivery. The other quadrants expose expectation or resilience effects.
Current business context
Growth, quality and valuation
EPS growth-year on year
Revenue growth24.6%year on year
Average surprise-7.5%latest four quarters
SUE0.20standardised surprise
Net margin-2.4%trailing basis
Cash conversion-16.95xcash flow / net income
P/E-current snapshot
Data completeness79%alphavantage
Market context
Positioning into the event
Weekly close168.68 USDcompleted week
13-week return10.9%price momentum
Fair-value gap-17.4%price versus current fair value
Relative strength-29.2exchange benchmark
Trend signalInactiveweekly architecture
Next-week statePositive58.9%
Market context describes the setup surrounding the report. It does not convert the earnings event into a directional forecast.
Reported evidence ledger
Quarter-by-quarter delivery and acceptance
Each row preserves the reported estimate, public date, statement context and conservative weekly reaction measurement.
Reported / periodEPS actual / estimateSurpriseEPS growthRevenue / growthNext close / four weeksRead
Reported / period26 May 202630 Apr 2026 · exact
EPS actual / estimate1.08 / 1.01USD
Surprise+6.9%Beat
EPS growth+28.6%year on year
Revenue / growth850475000+25.4% · USD
Next close / four weeks-23.4% / -31.5%completed weekly closes
ReadDivergedresult versus price sign
Reported / period26 Feb 202631 Jan 2026 · exact
EPS actual / estimate-0.08 / -0.05USD
Surprise-60.0%Miss
EPS growth-110.3%year on year
Revenue / growth815751000+25.9% · USD
Next close / four weeks-8.0% / -5.2%completed weekly closes
ReadConfirmedresult versus price sign
Reported / period25 Nov 202531 Oct 2025 · exact
EPS actual / estimate0.96 / 0.86USD
Surprise+11.6%Beat
EPS growth+24.7%year on year
Revenue / growth788112000+25.5% · USD
Next close / four weeks-8.5% / -15.4%completed weekly closes
ReadDivergedresult versus price sign
Reported / period2 Sep 202531 Jul 2025 · exact
EPS actual / estimate0.89 / 0.80USD
Surprise+11.2%Beat
EPS growth+1.1%year on year
Revenue / growth719226000+21.3% · USD
Next close / four weeks-1.0% / +6.4%completed weekly closes
ReadDivergedresult versus price sign
Reported / period29 May 202530 Apr 2025 · exact
EPS actual / estimate0.84 / 0.76USD
Surprise+10.5%Beat
EPS growth-4.5%year on year
Revenue / growth678034000+22.6% · USD
Next close / four weeks+8.5% / +19.2%completed weekly closes
ReadConfirmedresult versus price sign
Reported / period5 Mar 202531 Jan 2025 · exact
EPS actual / estimate0.78 / 0.69USD
Surprise+13.0%Beat
EPS growth+2.6%year on year
Revenue / growth647900000+23.4% · USD
Next close / four weeks+6.4% / +5.6%completed weekly closes
ReadConfirmedresult versus price sign
Reported / period2 Dec 202431 Oct 2024 · exact
EPS actual / estimate0.77 / 0.63USD
Surprise+22.2%Beat
EPS growth+14.9%year on year
Revenue / growth627955000+26.4% · USD
Next close / four weeks+2.6% / -10.7%completed weekly closes
ReadConfirmedresult versus price sign
Reported / period3 Sep 202431 Jul 2024 · exact
EPS actual / estimate0.88 / 0.69USD
Surprise+27.5%Beat
EPS growth+37.5%year on year
Revenue / growth592868000- · USD
Next close / four weeks-21.6% / -14.1%completed weekly closes
ReadDivergedresult versus price sign
Reported / period30 May 202430 Apr 2024 · exact
EPS actual / estimate0.88 / 0.65USD
Surprise+35.4%Beat
EPS growth-year on year
Revenue / growth553201000- · USD
Next close / four weeks-1.0% / +4.6%completed weekly closes
ReadContainedresult versus price sign
Reported / period29 Feb 202431 Jan 2024 · exact
EPS actual / estimate0.76 / 0.58USD
Surprise+31.0%Beat
EPS growth-year on year
Revenue / growth524999000- · USD
Next close / four weeks-6.8% / -17.1%completed weekly closes
ReadDivergedresult versus price sign
Reported / period27 Nov 202331 Oct 2023 · exact
EPS actual / estimate0.67 / 0.49USD
Surprise+36.7%Beat
EPS growth-year on year
Revenue / growth496703000- · USD
Next close / four weeks+2.6% / +14.8%completed weekly closes
ReadConfirmedresult versus price sign
Reported / period5 Sep 202331 Jul 2023 · exact
EPS actual / estimate0.64 / 0.49USD
Surprise+30.6%Beat
EPS growth-year on year
Revenue / growth-- · USD
Next close / four weeks+1.5% / -1.8%completed weekly closes
ReadConfirmedresult versus price sign
Reproducible method
How the earnings dossier is measured
Reported diluted EPS is compared with the stored estimate for the same fiscal period. Moves within ±0.5% are classified as in-line.
The first completed weekly close after the public date is compared with the prior completed weekly close. Four-week response uses the first close at least 21 days later.
Risk combines proximity, average absolute price movement, surprise variability, estimate availability and timing certainty. It does not score direction.
Exact public dates are used when stored. Missing estimates, timing and statement fields remain missing. No result or reaction is filled from a future observation.
Independent market research for education. Not investment advice, a recommendation, forecast, target or execution instruction.