The latest data point for ZS's operating profitability metrics in Q2'26 shows ROE at -1.56%, ROA at -0.51%, and ROIC at -0.74%, indicating a slight deterioration from the prior quarter's values of -0.59%, -0.18%, and -0.25% respectively, while remaining in negative territory overall. From Q3'23 to Q2'26, all three metrics—ROE, ROA, and ROIC—exhibited a volatile but generally improving trend, starting from deep negatives (ROE at -7.66%, ROA at -1.44%, ROIC at -2.46%) and reaching a brief positive peak in Q3'24 (ROE at 1.75%, ROA at 0.46%, ROIC at 0.94%) before reverting to modest losses; this pattern suggests initial operational challenges followed by temporary efficiency gains, with subsequent quarters reflecting ongoing pressures that kept returns below breakeven despite narrowing deficits.