Cloudflare, Inc. (NET) vs Zscaler, Inc. (ZS)
A side-by-side comparison of Cloudflare, Inc. and Zscaler, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of September 13, 2026. Differences are shown without an overall score or investment verdict.
NET
Cloudflare, Inc.
$354.21TechnologyDelayed quote: Sep 28, 2026, 4:00 PM EDT
ZS
Zscaler, Inc.
$199.39TechnologyDelayed quote: Sep 28, 2026, 4:00 PM EDT
Total return — NET vs ZS
growth of $100 · dividends reinvested · last 7yNET +1479.4% (+48.3%/yr)ZS +234.9% (+18.8%/yr)NET compounded faster over this window
NET ZS
NET vs ZS: by the numbers
- •NET is the larger company ($125.72B vs $32.24B market cap).
- •Both run net losses; ZS's is the smaller (-1.88% vs -8.21% net margin).
- •ZS grew revenue faster over the past five years (37.87% vs 36.49% CAGR).
Metrics side by side
Valuation
| Metric | NET | ZS |
|---|---|---|
| Forward P/E | 280.80 | 40.91 |
| P/S ratio | 50.04 | 9.62 |
| P/B ratio | 77.61 | 12.41 |
| EV / EBITDA | N/A | 564.66 |
| FCF yield | 0.30% | 2.43% |
Profitability
| Metric | NET | ZS |
|---|---|---|
| Gross margin | 72.58% | 76.80% |
| Operating margin | -14.11% | -3.98% |
| Net margin | -8.21% | -1.88% |
| ROE | -12.73% | -2.43% |
| ROIC | -6.90% | -2.72% |
Growth (annualized)
| Metric | NET | ZS |
|---|---|---|
| Revenue CAGR (5Y) | 36.49% | 37.87% |
| FCF CAGR (5Y) | N/A | 42.77% |
| Total return CAGR (5Y) | 19.17% | -9.93% |
Frequently asked
- Which has grown faster, NET or ZS?
- Over the past five years, ZS grew revenue faster — NET at a 36.49% CAGR versus ZS at 37.87%.
- How have NET and ZS total returns compared?
- Over the past 5 years, NET delivered 19.17% and ZS delivered -9.93% annualized total return. Past performance doesn't predict future results.
Go deeper
Dig into the metrics
Cloudflare ROEZscaler ROECloudflare operating marginZscaler operating marginCloudflare revenue growthZscaler revenue growthCloudflare free cash flowZscaler free cash flow
Cloudflare & Zscaler appear in these rankings
Figures are sourced from reported fundamentals and the latest end-of-day price. This comparison is informational only and is not investment advice. Past performance does not predict future results. See our methodology. Compiled by TGMCharts Research · data verified September 13, 2026.