• Zscaler average return on tangible equity for 2023 was -54.05, a 35.13% decline from 2022.
• Zscaler average return on tangible equity for 2022 was -83.32, a 46.72% decline from 2021.
• Zscaler average return on tangible equity for 2021 was -56.79, a 89.43% increase from 2020.

Return on tangible equity can be defined as the amount of net income returned as a percentage of shareholders equity, after subtracting intangible assets, goodwill and preferred equity.