Which has grown faster, ON or ZS?

Over the past five years, ZS grew revenue faster — ON at a 2.67% CAGR versus ZS at 39.45%.

Is ON or ZS more profitable?

ON runs the higher net margin — ON at 10.17% versus ZS at -2.44%.

How have ON and ZS total returns compared?

Over the past 5 years, ON delivered 23.26% and ZS delivered -5.25% annualized total return. Past performance doesn't predict future results.

ON Semiconductor Corporation (ON) vs Zscaler, Inc. (ZS)

A side-by-side comparison of ON Semiconductor Corporation and Zscaler, Inc. across valuation, profitability, dividends, and growth — built entirely from reported fundamentals, as of August 18, 2026. Differences are shown without an overall score or investment verdict.

ON Semiconductor Corporation

$30.92B

$79.42TechnologyDelayed quote: Aug 18, 2026, 4:00 PM EDT

Zscaler, Inc.

$30.03B

$185.70TechnologyDelayed quote: Aug 18, 2026, 4:00 PM EDT

Total return — ON vs ZS

growth of $100 · dividends reinvested · last 8y

ON +223.9% (+15.8%/yr)ZS +458.9% (+24.0%/yr)ZS compounded faster over this window

ON ZS

ON vs ZS: by the numbers

•ON is the larger company ($30.92B vs $30.03B market cap).
•ON is profitable (10.17% net margin) while ZS runs a net loss (-2.44%).
•ZS grew revenue faster over the past five years (39.45% vs 2.67% CAGR).

Metrics side by side

Valuation

Metric	ON	ZS
P/E ratio	53.45	N/A
Forward P/E	26.08	44.80
P/S ratio	5.44	9.34
P/B ratio	4.67	12.53
EV / EBITDA	28.07	7112.34
FCF yield	5.26%	3.24%

Profitability

Metric	ON	ZS
Gross margin	37.45%	76.67%
Operating margin	11.66%	-4.73%
Net margin	10.17%	-2.44%
ROE	8.73%	-3.27%
ROIC	6.24%	-3.18%

Growth (annualized)

Metric	ON	ZS
Revenue CAGR (5Y)	2.67%	39.45%
EPS CAGR (5Y)	-12.64%	N/A
FCF CAGR (5Y)	17.01%	49.89%
Total return CAGR (5Y)	14.71%	-5.25%

Frequently asked

Which has grown faster, ON or ZS?: Over the past five years, ZS grew revenue faster — ON at a 2.67% CAGR versus ZS at 39.45%.
Is ON or ZS more profitable?: ON runs the higher net margin — ON at 10.17% versus ZS at -2.44%.
How have ON and ZS total returns compared?: Over the past 5 years, ON delivered 23.26% and ZS delivered -5.25% annualized total return. Past performance doesn't predict future results.

Go deeper

Full ON analysis Full ZS analysis Interactive comparison tool

Dig into the metrics

ON Semiconductor P/E ratio ON Semiconductor ROE Zscaler ROE ON Semiconductor operating margin Zscaler operating margin ON Semiconductor revenue growth Zscaler revenue growth ON Semiconductor free cash flow Zscaler free cash flow

ON Semiconductor & Zscaler appear in these rankings

Fastest Revenue Growth Stocks Highest FCF Yield Stocks Highest 10-Year Total Return Stocks

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 August 18, 2026.