Check Point
CHKP · Systems Software
$159.03
4.6%Zscaler
ZS · Systems Software
$255.15
7.3%The short version
- Zscaler is the larger business, with $3.4B of revenue in fiscal 2026 against $2.7B for Check Point.
- Zscaler grew revenue faster (25.4%, against 6.3%).
- Check Point kept more of each dollar of sales as operating profit (30.5% operating margin, against −4.0% operating margin).
- Check Point turned more of its sales into free cash flow (43.0% FCF margin, against 25.4% FCF margin).
| Latest fiscal year | CHKP · FY25 | ZS · FY26 |
|---|---|---|
| Size | ||
| Market cap | $17.5B | $40.9B |
| Revenue | $2.7B | $3.4B |
| Free cash flow | $1.2B | $852M |
| Net income | $1.1B | −$63.2M |
| Growth | ||
| Revenue growth | 6.3% | 25.4% |
| 5-year growth | 5.7% | 37.9% |
| Share count change | −3.1% | 3.8% |
| Profitability | ||
| Gross margin | 86.7% | 76.8% |
| Operating margin | 30.5% | −4.0% |
| Net margin | 38.8% | −1.9% |
| FCF margin | 43.0% | 25.4% |
| Return on capital | — | — |
| Return on equity | 37.3% | −2.9% |
| Balance sheet | ||
| Net debt | −$2.4B | −$1.8B |
| Net debt / EBITDA | −2.8x | −116.4x |
| Dividends and buybacks | $1.4B | $0.0M |
| Valuation & quality | ||
| P/E | — | — |
| Piotroski F-score | 7 | 3 |
FY17
CHKP $1.9B
ZS $126M
FY18
CHKP $1.9B
ZS $190M
FY19
CHKP $2.0B
ZS $303M
FY20
CHKP $2.1B
ZS $431M
FY21
CHKP $2.2B
ZS $673M
FY22
CHKP $2.3B
ZS $1.1B
FY23
CHKP $2.4B
ZS $1.6B
FY24
CHKP $2.6B
ZS $2.2B
FY25
CHKP $2.7B
ZS $2.7B
FY26
CHKP —
ZS $3.4B
CHKP
ZS
FY17
CHKP 49.8%
ZS −27.9%
FY18
CHKP 47.7%
ZS −18.2%
FY19
CHKP 44.2%
ZS −11.7%
FY20
CHKP 43.8%
ZS −26.4%
FY21
CHKP 41.9%
ZS −30.9%
FY22
CHKP 38.0%
ZS −30.0%
FY23
CHKP 37.2%
ZS −14.5%
FY24
CHKP 34.2%
ZS −5.6%
FY25
CHKP 30.5%
ZS −4.8%
FY26
CHKP —
ZS −4.0%
CHKP
ZS
FY17
CHKP $1.1B
ZS −$13.8M
FY18
CHKP $1.1B
ZS $3.9M
FY19
CHKP $1.1B
ZS $32.5M
FY20
CHKP $1.1B
ZS $36.2M
FY21
CHKP $1.2B
ZS $154M
FY22
CHKP $1.1B
ZS $253M
FY23
CHKP $1.0B
ZS $365M
FY24
CHKP $1.0B
ZS $635M
FY25
CHKP $1.2B
ZS $808M
FY26
CHKP —
ZS $852M
CHKP
ZS
FY17
CHKP —
ZS —
FY18
CHKP —
ZS —
FY19
CHKP —
ZS —
FY20
CHKP —
ZS —
FY21
CHKP —
ZS —
FY22
CHKP —
ZS —
FY23
CHKP —
ZS —
FY24
CHKP —
ZS —
FY25
CHKP —
ZS —
FY26
CHKP —
ZS —
CHKP
ZS
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Each company's latest fiscal year; fiscal years end in different months. The best value in each row is highlighted where higher (or lower) is clearly better. Not investment advice.