The latest data point for ZS (Zscaler) in Q3'26 shows an ROE of -0.59%, an ROA of -0.20%, and an ROIC of -0.64%. These figures represent a significant recovery from the previous quarter, Q2'26, which saw the lowest profitability levels since the Q4'24 downturn. From Q4'23 to Q3'26, the company's efficiency metrics have been volatile but generally show an improving trajectory toward the break-even line. A notable peak occurred in Q3'24 when all three metrics turned positive, with ROE reaching 1.75%, followed by a sharp decline in Q4'24. Since then, the metrics followed a steady recovery trend until Q4'25, with another period of volatility in the first half of FY2026.