As of Q2'26 (2026-01-31), ZS's P/E Ratio stands at -232.70, showing a significant improvement from the previous quarter's -1125.76. This latest data point indicates a notable reduction in the company's negative P/E Ratio, suggesting a potential shift in earnings performance. Over the period from Q3'23 to Q2'26, the P/E Ratio for ZS has exhibited considerable volatility, with values plunging from -78.51 in Q3'23 to a low of -1939.82 in Q2'25. After reaching this trough, the ratio began to recover, moving upward to -232.70 by Q2'26. This trend reflects a period of worsening negative earnings, followed by a marked improvement in the most recent quarters.