Zscaler, Inc. logo ZS - Zscaler, Inc.

Price: -- -- | CONSENSUS: Buy DETAILS
STRONG
BUY
0
BUY 41
HOLD 11
SELL 1
STRONG
SELL
0
| PRICE TARGET: $270.12 DETAILS
HIGH: $360.00
LOW: $155.00
MEDIAN: $265.00
CONSENSUS: $270.12
UPSIDE: 48.12%
Metric 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3
Revenue
Revenue 815.8 788.1 719.2 678.0 647.9 628.0 592.9 553.2 525.0 496.7 455.0 418.8 387.6 355.5 318.1 286.8 255.6 230.5 197.1 176.4 157.0 142.6 125.9 110.5 101.3 93.6 86.1 79.1 74.3 63.3 56.2 49.2 45.0 39.9 36.5 33.0 29.4 26.8 23.6 20.7
Cost of Revenue 191.3 184.8 172.2 155.9 148.4 142.3 130.8 119.1 117.9 111.9 102.7 95.9 87.3 76.6 68.7 64.3 58.0 52.3 45.6 39.0 34.2 31.8 31.4 24.9 20.7 20.1 17.6 15.0 15.3 12.2 11.5 9.4 8.7 8.3 8.0 7.0 6.5 5.9 5.5 5.3
Gross Profit 624.5 603.4 547.6 522.2 499.5 485.7 462.1 434.1 407.1 384.8 352.3 322.9 300.3 278.9 249.4 222.5 197.5 178.2 151.5 137.4 122.8 110.8 94.5 85.7 80.6 73.5 68.5 64.2 59.0 51.1 44.7 39.7 36.3 31.6 28.5 26.0 22.9 20.9 18.0 15.4
Operating Expenses
R&D Expenses 229.1 200.5 177.6 169.3 170.5 154.3 139.0 125.0 122.2 113.5 96.2 92.3 85.0 74.0 78.0 76.5 69.1 65.2 56.2 41.0 41.8 35.8 32.8 23.8 20.3 19.7 16.9 16.5 15.1 13.1 11.5 9.9 9.2 8.8 8.6 7.8 11.0 6.1 5.5 5.8
SG&A Expenses 447.1 439.2 401.6 375.3 366.0 363.3 348.7 313.5 332.0 318.0 298.0 278.8 276.3 269.3 254.0 232.6 212.3 187.3 162.7 140.3 135.0 117.3 106.6 81.9 73.9 70.0 56.5 55.0 47.4 44.5 39.7 36.0 29.7 34.1 33.0 25.8 21.2 19.9 18.4 17.8
Other Expenses 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0.1
Operating Expenses 676.3 639.7 579.2 544.6 536.5 517.5 487.8 438.5 454.2 431.5 394.2 371.1 361.3 343.3 331.9 309.1 281.5 252.5 218.9 181.2 176.7 153.0 139.4 105.7 94.2 89.7 73.4 71.5 62.4 57.6 51.2 45.9 38.9 42.9 41.6 33.5 32.2 26.0 24.0 23.6
Operating Income
Operating Income (51.8) (36.4) (32.2) (22.4) (37.0) (31.9) (25.7) (4.4) (47.1) (46.7) (42.0) (48.1) (61.0) (64.4) (82.5) (86.6) (83.9) (74.4) (67.4) (43.9) (53.9) (42.3) (44.9) (20.1) (13.6) (16.3) (5.0) (7.4) (3.4) (6.5) (6.5) (6.2) (2.6) (11.3) (13.1) (7.6) (9.3) (5.2) (5.9) (8.1)
Interest Expense 4.2 2.1 2.1 2.0 2.3 3.0 3.7 2.4 3.8 3.1 2.7 1.4 1.3 1.3 14.5 14.2 14.0 13.8 13.6 13.4 13.2 13.0 5.0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Interest Income 33.9 33.2 33.2 31.3 30.9 30.0 27.2 27.6 28.4 25.9 21.4 18.6 12.7 7.9 2.6 0.9 0.6 0.5 0.5 0.6 0.8 0.9 1.1 1.5 1.9 2.0 2.1 2.1 1.9 1.6 1.2 0 0 0 0 0 0 4.4 2.1 0
Profitability
EBITDA 29.0 35.0 34.7 39.0 14.5 24.2 23.0 44.3 1.8 5.6 4.6 (12.1) (28.6) (40.5) (41.0) (50.6) (65.6) (57.2) (38.4) (17.4) (29.4) (20.6) (26.1) (13.5) (23.9) (9.3) 2.7 (4.0) 4.1 (0.7) (0.7) (6.5) (4.2) (9.2) (12.9) (7.4) (9.2) (5.0) 0 (7.2)
EBIT (17.1) (6.2) 17.2 6.5 (14.3) (1.4) (1.4) 23.2 (16.7) (21.3) (23.3) (37.9) (52.4) (62.1) (80.7) (87.6) (84.2) (74.5) (66.5) (43.2) (52.6) (41.5) (44.1) (18.9) (28.4) (16.3) (6.0) (11.6) (3.0) (7.3) (6.6) (8.4) (6.2) (11.1) (12.9) (7.4) (9.2) (5.0) 0 (8.1)
Income Before Tax (21.3) (8.4) (1.9) 4.6 (16.5) (4.4) (5.1) 20.9 (20.5) (24.5) (26.0) (39.4) (53.8) (63.4) (95.2) (101.9) (98.3) (88.3) (80.2) (56.6) (65.9) (54.5) (49.1) (18.9) (28.4) (16.3) (6.0) (11.6) (3.0) (7.3) (6.6) (8.4) (6.2) (11.1) (12.9) (7.4) (9.2) (5.0) (6.0) (8.2)
Income Tax Expense 13.0 3.2 15.7 8.7 (8.8) 7.6 9.8 1.7 8.0 9.0 4.6 6.7 3.7 4.7 2.5 (0.5) 2.2 2.5 0.8 1.8 1.7 0.5 0.5 0.4 0.7 0.8 (0.8) 0.6 0.5 0.3 0.3 0.4 0.4 0.3 0.3 0.2 0.2 0.2 0.2 0.1
Net Income (34.3) (11.6) (17.6) (4.1) (7.7) (12.1) (14.9) 19.1 (28.5) (33.5) (30.7) (46.0) (57.5) (68.2) (97.7) (101.4) (100.4) (90.8) (81.0) (58.5) (67.5) (55.0) (49.5) (19.3) (29.2) (17.1) (5.3) (12.2) (3.6) (7.6) (7.0) (8.8) (6.5) (11.4) (13.3) (7.6) (9.4) (10.0) (8.5) (8.3)
Per Share Data
EPS (Basic) -0.21 -0.07 -0.11 -0.03 -0.05 -0.08 -0.10 0.13 -0.19 -0.23 -0.21 -0.32 -0.40 -0.48 -0.69 -0.72 -0.71 -0.65 -0.59 -0.43 -0.50 -0.41 -0.38 -0.15 -0.23 -0.13 -0.04 -0.10 -0.03 -0.06 -0.06 -0.07 -0.06 -0.11 -0.13 -0.07 -0.33 -0.35 -0.30 -0.32
EPS (Diluted) -0.21 -0.07 -0.11 -0.03 -0.05 -0.08 -0.10 0.12 -0.19 -0.23 -0.21 -0.32 -0.40 -0.48 -0.69 -0.72 -0.71 -0.65 -0.59 -0.43 -0.50 -0.41 -0.38 -0.15 -0.23 -0.13 -0.04 -0.10 -0.03 -0.06 -0.06 -0.07 -0.06 -0.11 -0.13 -0.07 -0.33 -0.35 -0.30 -0.32
Shares Outstanding 159.7 158.6 156.5 154.9 153.7 152.6 149.6 150.3 149.0 147.6 146.4 145.4 144.5 143.5 142.4 141.4 140.5 139.3 137.8 136.4 135.0 133.5 131.7 129.7 128.4 127.5 126.3 124.7 122.7 120.6 119.2 118.3 117.3 103.6 103.6 103.6 28.5 28.5 27.7 26.1
Metric 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q1 2016 Q4
Current Assets
Cash & Cash Equivalents 1,202.8 1,338.2 2,389.0 1,990.9 1,758.5 1,553.6 1,423.1 1,259.2 1,438.6 1,361.7 1,262.2 1,275.3 1,257.0 1,084.9 1,013.2 594.9 409.8 371.7 275.9 106.6 95.3 102.0 141.9 124.6 76.5 69.3 78.5 55.0 67.5 42.8 135.6 287.4 71.6 75.8 88.0 87.4 (92.8) 92.8
Short-Term Investments 2,310 1,983.1 1,183.4 1,014.7 1,121.7 1,154.3 986.6 980.8 1,021.2 962.7 838.0 693.1 648.3 739.8 718.1 1,063.0 1,211.4 1,212.9 1,226.7 1,361.0 1,349.4 1,313.9 1,228.7 266.7 308.4 308.3 286.2 297.8 272.5 271.3 163.0 0 0 0 0 0 185.7 0
Net Receivables 551.8 530.5 992.2 615.8 514.3 424.6 736.5 506.3 479.6 366.8 582.6 376.3 358.6 268.7 399.7 272.1 269.4 172.0 257.1 164.9 170.4 105.9 147.6 105.6 94.8 70.5 93.3 71.2 75.5 49.2 61.6 40.2 47.5 30.4 39.1 24.2 0 24.5
Inventory 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Current Assets 386.2 354.2 329.7 294.0 270.7 261.3 250.4 223.7 203.3 200.3 207.4 182.5 152.2 92.7 88.1 80.2 72.3 65.5 57.4 49.3 44.4 39.1 36.0 26.3 23.5 22.1 21.2 19.4 18.1 16.4 16.1 13.8 12.3 10.8 10.5 8.6 0 6.7
Total Current Assets 4,450.8 4,206.0 4,894.3 3,915.4 3,665.2 3,393.8 3,396.6 2,970.0 3,142.7 2,891.6 2,890.3 2,527.2 2,416.1 2,233.4 2,256.6 2,047.0 1,989.2 1,855.4 1,848.3 1,705.5 1,678.6 1,579.5 1,581.8 552.1 523.1 488.9 496.1 456.0 446.0 391.6 387.2 350.4 138.1 123.1 142.9 124.3 92.8 127.1
Non-Current Assets
Property, Plant & Equipment 683.0 669.7 633.1 570.2 506.0 493.1 472.9 423.1 382.3 342.7 313.0 291.3 270.3 259.6 233.0 186.9 164.0 157.2 152.9 156.5 136.5 129.6 111.9 98.4 84.5 80.9 41.0 32.0 25.8 24.1 19.8 20.4 16.9 15.7 13.1 12.8 0 11.1
Goodwill 1,001.4 994.5 417.7 417.7 417.7 417.0 417.0 417.0 92.4 92.4 89.2 89.2 78.5 78.5 78.5 59.8 59.8 59.0 59.0 53.3 30.1 30.1 30.1 13.3 7.5 7.5 7.5 0 0 0 0 0 0 0 0 0 0 0
Intangible Assets 193.4 215.3 47.3 51.4 55.7 59.6 63.8 69.0 22.5 25.6 25.9 28.8 26.7 29.3 31.8 27.0 29.3 29.9 32.1 26.5 20.9 22.4 24.0 10.1 7.3 7.9 8.7 2.2 1.5 0 0 0 0 0 0 0 0 0
Long-Term Investments 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Assets 425.3 417.7 427.4 384.8 361.4 345.5 354.6 319.6 294.3 283.2 289.9 264.1 248.3 234.9 232.7 203.8 179.7 169.7 165.3 120.5 103.4 91.4 85.7 61.9 54.0 51.0 50.8 47.3 46.3 42.4 40.9 34.6 33.2 30.3 26.9 19.6 (92.8) 15.4
Total Non-Current Assets 2,303.1 2,297.1 1,525.6 1,424.2 1,340.8 1,315.2 1,308.4 1,228.7 791.5 744.0 718.0 673.5 623.8 602.4 576.0 477.5 432.9 415.7 409.3 356.8 290.8 273.4 251.7 183.8 153.3 147.3 108.1 81.5 72.1 66.5 60.6 55.1 50.0 46.0 40.0 32.3 (92.8) 26.5
Total Assets 6,753.8 6,503.1 6,419.9 5,339.6 5,006.0 4,709.0 4,705.0 4,198.8 3,934.2 3,635.6 3,608.3 3,200.7 3,040.0 2,835.7 2,832.7 2,524.5 2,422.0 2,271.1 2,257.6 2,062.3 1,969.4 1,852.9 1,833.5 736.0 676.4 636.2 604.2 537.5 518.1 458.1 447.8 405.5 188.2 169.1 182.9 156.6 0 153.5
Current Liabilities
Account Payables 29.0 48.4 46.9 54.6 24.6 25.4 23.3 28.0 17.1 23.2 18.5 24.8 33.6 29.7 26.2 15.2 13.5 15.0 12.5 20.2 13.2 7.7 5.2 9.4 2.7 3.8 6.2 3.6 3.5 4.6 4.9 4.9 2.3 2.4 3.8 1.8 0 1.4
Short-Term Debt 67.6 0 0 1,148.9 1,147.5 1,145.8 1,142.3 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Revenue 1,983.6 1,946.2 2,054.4 1,677.9 1,595.8 1,533.1 1,643.9 1,376.7 1,316.4 1,244.5 1,281.1 1,058.9 1,000.4 913.1 923.7 731.9 687.9 584.3 571.3 445.8 406.2 340.0 337.3 274.7 251.2 218.2 221.4 183.6 176.3 144.5 140.7 111.0 107.9 0 85.5 0 0 0
Other Current Liabilities 260.8 42.6 61.0 76.6 79.8 56.4 62.3 163.1 137.4 97.6 7.4 123.2 97.3 79.6 111.9 102.7 83.9 72.7 93.6 61.3 47.9 37.1 49.4 34.2 25.0 22.9 21.5 22.5 16.5 19.9 23.4 17.4 14.9 0 19.6 70.7 0 58.5
Total Current Liabilities 2,341.0 2,305.7 2,429.6 3,168.4 3,048.9 2,963.6 3,112.9 1,701.3 1,583.9 1,474.4 1,535.9 1,289.1 1,204.0 1,111.3 1,134.4 912.6 836.0 715.3 720.2 564.9 501.6 416.5 423.9 345.6 303.7 266.3 261.9 221.6 210.2 183.9 182.8 147.2 136.4 115.8 120.5 88.6 0 77.9
Non-Current Liabilities
Long-Term Debt 1,796.8 1,699.9 1,700.7 0 0 0 0 1,137.7 1,141.0 1,134.0 1,134.2 1,140.8 1,140.5 1,139.5 968.7 954.6 940.7 927.0 913.5 900.3 887.2 874.4 861.6 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Deferred Tax Liabilities 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Non-Current Liabilities 420.1 44.3 33.3 26.5 26.1 24.3 22.1 19.4 16.8 21.0 12.7 10.1 9.0 10.0 7.9 7.9 4.6 4.6 4.5 4.0 3.5 2.9 2.6 1.6 1.5 3.4 3.8 1.5 1.1 1.2 1.4 1.4 1.4 0 1.5 0 0 0
Total Non-Current Liabilities 2,216.9 2,215.0 2,191.0 366.3 349.8 316.8 318.0 1,404.3 1,391.5 1,353.6 1,347.3 1,310.3 1,307.3 1,293.2 1,124.9 1,080.4 1,046.6 1,025.6 1,008.5 989.3 965.1 944.4 924.7 55.5 53.6 55.9 33.7 29.4 30.8 22.0 24.7 15.2 12.8 0 12.6 0 0 0
Total Liabilities 4,557.9 4,520.8 4,620.6 3,534.7 3,398.6 3,280.5 3,430.9 3,105.6 2,975.4 2,828.1 2,883.2 2,599.4 2,511.3 2,404.5 2,259.4 1,993.0 1,882.7 1,740.9 1,728.7 1,554.2 1,466.7 1,360.8 1,348.6 401.2 357.3 322.2 295.6 251.0 241.0 205.9 207.5 162.3 149.1 115.8 133.1 88.6 0 77.9
Stockholders' Equity
Common Stock 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.2 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.1 0.0 0.0 0.0 0 0.0
Retained Earnings (1,235.5) (1,201.2) (1,189.6) (1,172.0) (1,167.9) (1,160.1) (1,148.1) (1,133.2) (1,152.3) (1,123.9) (1,090.4) (1,059.7) (1,013.7) (956.2) (991.9) (894.2) (792.8) (692.4) (601.6) (520.6) (462.1) (394.6) (339.6) (290.0) (270.7) (241.5) (224.5) (219.2) (206.9) (203.4) (196.1) (189.1) (180.4) (173.9) (162.0) (148.7) 0 (126.6)
Accumulated Other Comprehensive Income 15.2 7.9 8.1 16.2 (22.3) (4.5) (4.8) (15.7) (3.0) (18.0) (1.6) (0.1) (5.0) (37.8) (25.9) (24.5) (9.3) (2.8) (0.7) 0.7 0.5 (0.3) 0.5 0.8 0.5 0.4 0.3 0.1 (0.1) (0.3) (0.1) (23.0) (21.2) (7.7) (17.3) (7.8) (124.7) (9.9)
Total Stockholders' Equity 2,195.9 1,982.3 1,799.3 1,804.9 1,607.3 1,428.5 1,274.1 1,093.1 958.9 807.5 725.1 601.3 528.7 431.3 573.3 531.6 539.4 530.2 528.9 508.1 502.7 492.1 484.8 334.8 319.2 314.1 308.6 286.6 277.1 252.2 240.2 243.2 39.0 42.1 49.8 59.4 66.7 66.7
Total Liabilities & Equity 6,753.8 6,503.1 6,419.9 5,339.6 5,006.0 4,709.0 4,705.0 4,198.8 3,934.2 3,635.6 3,608.3 3,200.7 3,040.0 2,835.7 2,832.7 2,524.5 2,422.0 2,271.1 2,257.6 2,062.3 1,969.4 1,852.9 1,833.5 736.0 676.4 636.2 604.2 537.5 518.1 458.1 447.8 405.5 188.2 157.9 182.9 148.1 66.7 144.6
Debt Metrics
Total Debt 1,864.4 1,834.0 1,796.6 1,228.8 1,238.3 1,237.3 1,238.0 1,235.4 1,233.7 1,215.8 1,210.5 1,214.8 1,215.9 1,219.3 1,045.7 1,005.2 989.6 978.0 964.6 956.7 941.2 927.4 905.2 40.8 34.4 34.2 0 0 0 0 0 0 0 0 0 0 0 0
Net Debt 661.6 495.8 (592.4) (762.1) (520.2) (316.3) (185.1) (23.8) (204.9) (146.0) (51.7) (60.5) (41.1) 134.3 32.5 410.3 579.8 606.3 688.7 850.1 845.8 825.4 763.4 (83.7) (42.1) (35.1) (78.5) (55.0) (67.5) (42.8) (135.6) (287.4) (71.6) (75.8) (88.0) (87.4) 92.8 (92.8)
Metric 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3
Operating Activities
Net Income (34.3) (11.6) (17.6) (4.1) (7.7) (12.1) (14.9) 19.1 (28.5) (33.5) (30.7) (46.0) (57.5) (68.2) (97.7) (101.4) (100.4) (90.8) (81.0) (58.5) (67.5) (55.0) (49.5) (19.3) (29.2) (17.1) (5.3) (12.2) (3.6) (7.6) (7.0) (8.8) (6.5) (11.4) (13.3) (7.6) (9.4) (10.0) (8.5) (8.3)
Depreciation & Amortization 46.1 41.3 34.3 32.4 28.7 25.7 24.4 21.1 18.5 17.0 19.0 17.5 15.9 14.4 13.3 12.7 12.2 11.2 10.3 9.7 8.8 7.7 6.8 5.4 4.6 4.4 3.6 2.8 2.6 2.3 2.1 1.9 2.0 1.9 1.8 1.7 1.4 1.2 2.1 0
Stock-Based Compensation 216.6 188.6 172.7 159.4 172.1 157.2 144.9 113.2 140.4 129.1 122.1 107.8 109.7 105.2 114.8 105.9 99.0 89.9 80.0 60.0 61.4 57.2 51.4 27.8 23.9 18.4 12.3 13.3 13.2 7.6 4.1 3.3 2.1 1.7 1.6 1.6 4.4 2.4 1.3 1.0
Change in Working Capital (93.7) 162.8 (2.7) (27.9) (48.1) 105.3 1.8 (17.2) (26.3) 107.8 (6.6) (3.0) (8.2) 46.5 31.8 20.1 (0.6) 46.1 1.8 30.4 (2.0) 15.3 7.1 (2.6) (3.6) 7.8 3.9 5.4 (0.5) 4.7 11.7 7.9 (1.7) 0.6 3.7 2.3 (15.6) (0.0) (12.1) 0
Other Non-Cash Items 67.3 70.9 60.4 51.7 51.9 55.0 47.2 41.5 39.4 40.4 32.0 32.1 29.6 30.5 40.9 39.9 38.5 37.1 34.5 32.3 30.2 28.9 16.6 10.1 9.7 8.1 3.3 4.2 3.9 4.0 3.7 3.8 3.0 2.8 2.4 2.2 18.6 4.5 11.8 7.3
Operating Cash Flow 204.1 448.3 250.6 211.1 179.4 331.3 203.6 173.4 142.1 260.8 135.9 108.5 89.5 128.5 103.1 77.2 48.3 93.3 44.7 73.4 30.4 53.5 31.6 20.8 5.4 21.4 17.8 13.5 15.7 11.0 14.7 8.1 (1.1) (4.4) (3.7) 0.2 (0.6) (2.0) (5.4) 0
Investing Activities
Capital Expenditure 35.0 (35.0) (78.7) (91.6) (36.0) (39.5) (67.2) (50.3) (41.3) (36.1) (34.6) (34.6) (26.7) (32.8) (28.4) (33.5) (18.8) (9.9) (17.0) (17.6) (12.4) (11.3) (20.7) (11.7) (7.4) (12.0) (10.3) (8.9) (3.7) (7.2) (2.7) (4.4) (3.5) (4.5) (1.7) (2.0) (1.5) (2.9) (0.8) 0
Acquisitions 0 (672.8) 0 0 (0.8) 0 (12.9) (357.4) (2.1) (4.4) 7.6 (15.6) (88.7) 33.4 (24.9) (0.3) (4.8) (0.1) (8.2) 2.8 1.9 2.4 (32.7) 2.0 2.5 1.8 (10.6) 0.8 0.5 1.8 0 0 0 0 0 0 0 0 0 0
Purchases of Investments (510.7) (896.4) (394.0) (157.6) (299.0) (430.9) (287.0) (242.2) (387.9) (375.9) (324.9) (227.5) (304.0) (211.0) (34.8) (185.9) (311.4) (312.8) (94.1) (304.8) (245.0) (174.7) (1,052.9) (55.2) (59.1) (88.4) (62.9) (92.4) (42.5) (137.4) (163.4) 0 0 0 0 0 0 0 0 0
Sales/Maturities of Investments 181.1 101.9 225.1 270.9 336.4 268.7 293.0 289.6 342.9 253.8 179.1 186.4 400.7 186.1 379.6 325.9 306.7 322.7 222.5 289.9 207.2 88.1 87.6 97.3 59.2 66.8 75.3 67.8 42.3 29.3 0 0 0 0 0 0 0 0 0 0
Other Investing Activities (48.6) (17.7) 0 (19.5) 0 (22.4) (17.9) 0 2.1 0 (7.6) 0 88.7 (33.4) 0 0.3 4.4 0.1 0 (35.1) (1.9) (2.4) 0 (10.9) (2.5) (1.8) 0 (1.6) (0.5) (1.8) 0.4 0 0 0 (0.2) 0 0 0 (0.3) 0
Investing Cash Flow (360.9) (1,502.2) (247.6) 21.7 0.5 (201.7) (74.2) (360.2) (86.2) (162.5) (180.4) (91.3) 70.1 (57.7) 291.5 106.5 (23.9) (0.1) 103.1 (64.8) (50.1) (97.9) (1,018.7) 21.4 (7.3) (33.6) (8.4) (34.4) (3.9) (115.3) (165.7) (4.4) (3.5) (4.5) (1.9) (2.0) (1.5) (2.9) (1.1) 0
Financing Activities
Net Debt Issuance 0 0 354.2 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 985.3 0 0 0 0 0 0 1.9 0 5.3 0 0 0 1.5 0 0 0 0
Stock Repurchased 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1.8 (1.8) (0.0) (0.7) 0 0 (3.1) 0 0 0 0 0 0
Dividends Paid 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0
Other Financing Activities (0.1) (0.2) (0.4) (0.4) 0 0 (0.0) 0 0 0 (0.2) 0 0 (0.0) (0.2) (0.0) (0.0) (0.1) 0 0 (2.2) 0 0 0 0 0 0 0 0 9.6 (0.1) 1.5 (1.5) (0.2) 6.2 0.4 0.6 0.7 0.3 0
Financing Cash Flow 21.4 3.8 395.1 (0.4) 24.9 0.9 34.5 7.4 21.0 1.3 31.4 1.1 12.5 1.0 23.7 1.3 13.7 2.6 21.5 2.7 13.0 4.5 1,004.3 5.8 9.0 3.1 14.1 8.0 12.8 11.4 (0.9) 212.2 0.4 (3.3) 6.2 1.9 0.6 0.7 0.3 0
Cash Position
Net Change in Cash (135.4) (1,050.8) 398.1 232.4 204.9 130.6 163.9 (179.4) 76.9 99.5 (13.1) 18.3 172.1 71.7 418.3 185.1 38.1 95.8 169.3 11.2 (6.7) (39.8) 17.3 48.1 7.2 (9.1) 23.5 (12.9) 24.6 (92.9) (151.9) 215.9 (4.8) (12.2) 0.6 0.1 (1.4) (4.2) (6.2) 0
Cash at Beginning 1,338.2 2,389.0 1,990.9 1,758.5 1,553.6 1,423.1 1,259.2 1,438.6 1,361.7 1,262.2 1,275.3 1,257.0 1,084.9 1,013.2 594.9 409.8 371.7 275.9 106.6 95.3 102.0 141.9 124.6 76.5 69.3 78.5 55.0 67.9 43.3 136.1 287.4 71.6 76.3 88.5 87.4 87.3 88.7 92.8 99.0 0
Cash at End 1,202.8 1,338.2 2,389.0 1,990.9 1,758.5 1,553.6 1,423.1 1,259.2 1,438.6 1,361.7 1,262.2 1,275.3 1,257.0 1,084.9 1,013.2 594.9 409.8 371.7 275.9 106.6 95.3 102.0 141.9 124.6 76.5 69.3 78.5 55.0 67.9 43.3 135.6 287.4 71.6 76.3 88.0 87.4 87.3 88.7 92.8 0
Free Cash Flow 239.1 413.3 171.9 119.5 143.4 291.9 136.3 123.1 100.8 224.7 101.3 73.9 62.8 95.6 74.8 43.7 29.4 83.4 27.7 55.8 18.0 42.2 10.9 9.1 (1.9) 9.4 7.6 4.6 12.0 3.8 11.9 3.7 (4.6) (8.9) (5.4) (1.8) (2.1) (4.9) (6.2) 0
Key Metrics 2026 Q2 2026 Q1 2025 Q4 2025 Q3 2025 Q2 2025 Q1 2024 Q4 2024 Q3 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4 2016 Q3
Income Statement
Revenue 815.8 788.1 719.2 678.0 647.9 628.0 592.9 553.2 525.0 496.7 455.0 418.8 387.6 355.5 318.1 286.8 255.6 230.5 197.1 176.4 157.0 142.6 125.9 110.5 101.3 93.6 86.1 79.1 74.3 63.3 56.2 49.2 45.0 39.9 36.5 33.0 29.4 26.8 23.6 20.7
Gross Profit 624.5 603.4 547.6 522.2 499.5 485.7 462.1 434.1 407.1 384.8 352.3 322.9 300.3 278.9 249.4 222.5 197.5 178.2 151.5 137.4 122.8 110.8 94.5 85.7 80.6 73.5 68.5 64.2 59.0 51.1 44.7 39.7 36.3 31.6 28.5 26.0 22.9 20.9 18.0 15.4
Operating Income (51.8) (36.4) (32.2) (22.4) (37.0) (31.9) (25.7) (4.4) (47.1) (46.7) (42.0) (48.1) (61.0) (64.4) (82.5) (86.6) (83.9) (74.4) (67.4) (43.9) (53.9) (42.3) (44.9) (20.1) (13.6) (16.3) (5.0) (7.4) (3.4) (6.5) (6.5) (6.2) (2.6) (11.3) (13.1) (7.6) (9.3) (5.2) (5.9) (8.1)
Net Income (34.3) (11.6) (17.6) (4.1) (7.7) (12.1) (14.9) 19.1 (28.5) (33.5) (30.7) (46.0) (57.5) (68.2) (97.7) (101.4) (100.4) (90.8) (81.0) (58.5) (67.5) (55.0) (49.5) (19.3) (29.2) (17.1) (5.3) (12.2) (3.6) (7.6) (7.0) (8.8) (6.5) (11.4) (13.3) (7.6) (9.4) (10.0) (8.5) (8.3)
EPS (Diluted) -0.21 -0.07 -0.11 -0.03 -0.05 -0.08 -0.10 0.12 -0.19 -0.23 -0.21 -0.32 -0.40 -0.48 -0.69 -0.72 -0.71 -0.65 -0.59 -0.43 -0.50 -0.41 -0.38 -0.15 -0.23 -0.13 -0.04 -0.10 -0.03 -0.06 -0.06 -0.07 -0.06 -0.11 -0.13 -0.07 -0.33 -0.35 -0.30 -0.32
Balance Sheet
Cash & Equivalents 1,202.8 1,338.2 2,389.0 1,990.9 1,758.5 1,553.6 1,423.1 1,259.2 1,438.6 1,361.7 1,262.2 1,275.3 1,257.0 1,084.9 1,013.2 594.9 409.8 371.7 275.9 106.6 95.3 102.0 141.9 124.6 76.5 69.3 78.5 55.0 67.5 42.8 135.6 287.4 71.6 75.8 88.0 87.4 (92.8) 92.8
Total Assets 6,753.8 6,503.1 6,419.9 5,339.6 5,006.0 4,709.0 4,705.0 4,198.8 3,934.2 3,635.6 3,608.3 3,200.7 3,040.0 2,835.7 2,832.7 2,524.5 2,422.0 2,271.1 2,257.6 2,062.3 1,969.4 1,852.9 1,833.5 736.0 676.4 636.2 604.2 537.5 518.1 458.1 447.8 405.5 188.2 169.1 182.9 156.6 0 153.5
Total Debt 1,864.4 1,834.0 1,796.6 1,228.8 1,238.3 1,237.3 1,238.0 1,235.4 1,233.7 1,215.8 1,210.5 1,214.8 1,215.9 1,219.3 1,045.7 1,005.2 989.6 978.0 964.6 956.7 941.2 927.4 905.2 40.8 34.4 34.2 0 0 0 0 0 0 0 0 0 0 0 0
Stockholders' Equity 2,195.9 1,982.3 1,799.3 1,804.9 1,607.3 1,428.5 1,274.1 1,093.1 958.9 807.5 725.1 601.3 528.7 431.3 573.3 531.6 539.4 530.2 528.9 508.1 502.7 492.1 484.8 334.8 319.2 314.1 308.6 286.6 277.1 252.2 240.2 243.2 39.0 42.1 49.8 59.4 66.7 66.7
Cash Flow
Operating Cash Flow 204.1 448.3 250.6 211.1 179.4 331.3 203.6 173.4 142.1 260.8 135.9 108.5 89.5 128.5 103.1 77.2 48.3 93.3 44.7 73.4 30.4 53.5 31.6 20.8 5.4 21.4 17.8 13.5 15.7 11.0 14.7 8.1 (1.1) (4.4) (3.7) 0.2 (0.6) (2.0) (5.4) 0
Capital Expenditure 35.0 (35.0) (78.7) (91.6) (36.0) (39.5) (67.2) (50.3) (41.3) (36.1) (34.6) (34.6) (26.7) (32.8) (28.4) (33.5) (18.8) (9.9) (17.0) (17.6) (12.4) (11.3) (20.7) (11.7) (7.4) (12.0) (10.3) (8.9) (3.7) (7.2) (2.7) (4.4) (3.5) (4.5) (1.7) (2.0) (1.5) (2.9) (0.8) 0
Free Cash Flow 239.1 413.3 171.9 119.5 143.4 291.9 136.3 123.1 100.8 224.7 101.3 73.9 62.8 95.6 74.8 43.7 29.4 83.4 27.7 55.8 18.0 42.2 10.9 9.1 (1.9) 9.4 7.6 4.6 12.0 3.8 11.9 3.7 (4.6) (8.9) (5.4) (1.8) (2.1) (4.9) (6.2) 0