Gen Digital vs Zscaler
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KIRA’s take AI analyst
I put Gen Digital and Zscaler side by side, using each one’s latest annual report. Here is what stands out:
- Gen Digital is the larger business, with $5.0B of revenue in fiscal 2026 against $3.4B for Zscaler.
- Gen Digital grew revenue faster (27.1%, against 25.4%).
- Gen Digital kept more of each dollar of sales as operating profit (42.4% operating margin, against −4.0%).
- Gen Digital turned more of its sales into free cash flow (30.5% FCF margin, against 25.4%).
Who comes out ahead
Of the 10 measures where higher (or lower) is clearly better, how many each company leads.
Gen Digital
GEN
8/10
Revenue growthGross marginOperating marginNet marginFCF marginReturn on equityPiotroski F-scoreShare count change
Zscaler
ZS
2/10
5-year growthNet debt / EBITDA
Side by side
Best in the row
| Latest fiscal year | GEN FY26 | ZS FY26 |
|---|---|---|
| Size | ||
| Market cap | $14.7B | $41.7B |
| Revenue | $5.0B | $3.4B |
| Free cash flow | $1.5B | $852M |
| Net income | $973M | −$63.2M |
| Growth | ||
| Revenue growth | 27.1% | 25.4% |
| 5-year growth | 14.4% | 37.9% |
| Share count change | −0.8% | 3.8% |
| Profitability | ||
| Gross margin | 78.5% | 76.8% |
| Operating margin | 42.4% | −4.0% |
| Net margin | 19.5% | −1.9% |
| FCF margin | 30.5% | 25.4% |
| Return on capital | 13.7% | — |
| Return on equity | 39.9% | −2.9% |
| Balance sheet | ||
| Net debt | $7.8B | −$1.8B |
| Net debt / EBITDA | 3.0x | −116.4x |
| Dividends and buybacks | $946M | $0.0M |
| Valuation & quality | ||
| P/E | 14.3x | — |
| Piotroski F-score | 7 | 3 |
Ten years
Revenue
Operating margin
Free cash flow
Return on capital
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.