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Side-by-side financial comparison of AvalonBay Communities (AVB) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Zscaler, Inc. is the larger business by last-quarter revenue ($788.1M vs $767.9M, roughly 1.0× AvalonBay Communities). AvalonBay Communities runs the higher net margin — 9040.6% vs -1.5%, a 9042.1% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 3.7%). AvalonBay Communities produced more free cash flow last quarter ($1.4B vs $431.0M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 3.8%).
AvalonBay Communities, Inc. is a publicly traded real estate investment trust that invests in apartments.
Zscaler, Inc. is an American cloud security company based in San Jose, California. The company offers cloud-based services to protect enterprise networks and data.
AVB vs ZS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $767.9M | $788.1M |
| Net Profit | $166.0M | $-11.6M |
| Gross Margin | — | 76.6% |
| Operating Margin | 64.2% | -4.6% |
| Net Margin | 9040.6% | -1.5% |
| Revenue YoY | 3.7% | 25.5% |
| Net Profit YoY | -41.2% | 3.6% |
| EPS (diluted) | $1.18 | $-0.07 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $767.9M | $788.1M | ||
| Q3 25 | $766.8M | $719.2M | ||
| Q2 25 | $760.2M | $678.0M | ||
| Q1 25 | $745.9M | $647.9M | ||
| Q4 24 | $740.5M | $628.0M | ||
| Q3 24 | $734.3M | $592.9M | ||
| Q2 24 | $726.0M | $553.2M | ||
| Q1 24 | $712.9M | $525.0M |
| Q4 25 | $166.0M | $-11.6M | ||
| Q3 25 | $381.3M | $-17.6M | ||
| Q2 25 | $268.7M | $-4.1M | ||
| Q1 25 | $236.6M | $-7.7M | ||
| Q4 24 | $282.1M | $-12.1M | ||
| Q3 24 | $372.5M | $-14.9M | ||
| Q2 24 | $253.9M | $19.1M | ||
| Q1 24 | $173.4M | $-28.5M |
| Q4 25 | — | 76.6% | ||
| Q3 25 | — | 76.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.5% | ||
| Q3 24 | — | 78.0% | ||
| Q2 24 | — | 78.6% | ||
| Q1 24 | — | 77.7% |
| Q4 25 | 64.2% | -4.6% | ||
| Q3 25 | 65.7% | -4.5% | ||
| Q2 25 | 67.6% | -3.7% | ||
| Q1 25 | 68.5% | -6.2% | ||
| Q4 24 | 63.1% | -4.9% | ||
| Q3 24 | 65.4% | -4.5% | ||
| Q2 24 | 66.6% | -0.5% | ||
| Q1 24 | 67.2% | -8.7% |
| Q4 25 | 9040.6% | -1.5% | ||
| Q3 25 | 49.7% | -2.4% | ||
| Q2 25 | 35.3% | -0.6% | ||
| Q1 25 | 31.7% | -1.2% | ||
| Q4 24 | 38.1% | -1.9% | ||
| Q3 24 | 50.7% | -2.5% | ||
| Q2 24 | 35.0% | 3.5% | ||
| Q1 24 | 24.3% | -5.4% |
| Q4 25 | $1.18 | $-0.07 | ||
| Q3 25 | $2.68 | $-0.11 | ||
| Q2 25 | $1.88 | $-0.03 | ||
| Q1 25 | $1.66 | $-0.05 | ||
| Q4 24 | $1.99 | $-0.08 | ||
| Q3 24 | $2.61 | $-0.09 | ||
| Q2 24 | $1.78 | $0.12 | ||
| Q1 24 | $1.22 | $-0.19 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $187.2M | $1.3B |
| Total DebtLower is stronger | $9.3B | — |
| Stockholders' EquityBook value | $11.6B | $2.0B |
| Total Assets | $22.2B | $6.5B |
| Debt / EquityLower = less leverage | 0.80× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $187.2M | $1.3B | ||
| Q3 25 | $123.3M | $2.4B | ||
| Q2 25 | $102.8M | $2.0B | ||
| Q1 25 | $53.3M | $1.8B | ||
| Q4 24 | $108.6M | $1.6B | ||
| Q3 24 | $552.4M | $1.4B | ||
| Q2 24 | $545.8M | $1.3B | ||
| Q1 24 | $287.9M | $1.4B |
| Q4 25 | $9.3B | — | ||
| Q3 25 | $8.7B | — | ||
| Q2 25 | $8.7B | $1.1B | ||
| Q1 25 | $8.3B | $1.1B | ||
| Q4 24 | $8.1B | $1.1B | ||
| Q3 24 | $8.4B | $1.1B | ||
| Q2 24 | $8.4B | $1.1B | ||
| Q1 24 | $8.0B | $1.1B |
| Q4 25 | $11.6B | $2.0B | ||
| Q3 25 | $11.9B | $1.8B | ||
| Q2 25 | $11.9B | $1.8B | ||
| Q1 25 | $11.9B | $1.6B | ||
| Q4 24 | $11.9B | $1.4B | ||
| Q3 24 | $11.9B | $1.3B | ||
| Q2 24 | $11.7B | $1.1B | ||
| Q1 24 | $11.7B | $958.9M |
| Q4 25 | $22.2B | $6.5B | ||
| Q3 25 | $21.9B | $6.4B | ||
| Q2 25 | $21.8B | $5.3B | ||
| Q1 25 | $21.2B | $5.0B | ||
| Q4 24 | $21.0B | $4.7B | ||
| Q3 24 | $21.3B | $4.7B | ||
| Q2 24 | $21.0B | $4.2B | ||
| Q1 24 | $20.6B | $3.9B |
| Q4 25 | 0.80× | — | ||
| Q3 25 | 0.73× | — | ||
| Q2 25 | 0.72× | 0.64× | ||
| Q1 25 | 0.70× | 0.71× | ||
| Q4 24 | 0.68× | 0.80× | ||
| Q3 24 | 0.70× | 0.90× | ||
| Q2 24 | 0.71× | 1.04× | ||
| Q1 24 | 0.68× | 1.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $1.7B | $448.3M |
| Free Cash FlowOCF − Capex | $1.4B | $431.0M |
| FCF MarginFCF / Revenue | 183.5% | 54.7% |
| Capex IntensityCapex / Revenue | 34.1% | 2.2% |
| Cash ConversionOCF / Net Profit | 10.07× | — |
| TTM Free Cash FlowTrailing 4 quarters | $2.5B | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $1.7B | $448.3M | ||
| Q3 25 | $477.0M | $250.6M | ||
| Q2 25 | $377.8M | $211.1M | ||
| Q1 25 | $415.9M | $179.4M | ||
| Q4 24 | $1.6B | $331.3M | ||
| Q3 24 | $486.2M | $203.6M | ||
| Q2 24 | $380.0M | $173.4M | ||
| Q1 24 | $412.9M | $142.1M |
| Q4 25 | $1.4B | $431.0M | ||
| Q3 25 | $402.2M | $190.6M | ||
| Q2 25 | $317.1M | $138.9M | ||
| Q1 25 | $367.5M | $164.4M | ||
| Q4 24 | $1.4B | $314.3M | ||
| Q3 24 | $434.2M | $154.2M | ||
| Q2 24 | $333.0M | $137.8M | ||
| Q1 24 | $375.4M | $111.2M |
| Q4 25 | 183.5% | 54.7% | ||
| Q3 25 | 52.5% | 26.5% | ||
| Q2 25 | 41.7% | 20.5% | ||
| Q1 25 | 49.3% | 25.4% | ||
| Q4 24 | 191.0% | 50.1% | ||
| Q3 24 | 59.1% | 26.0% | ||
| Q2 24 | 45.9% | 24.9% | ||
| Q1 24 | 52.7% | 21.2% |
| Q4 25 | 34.1% | 2.2% | ||
| Q3 25 | 9.8% | 8.3% | ||
| Q2 25 | 8.0% | 10.6% | ||
| Q1 25 | 6.5% | 2.3% | ||
| Q4 24 | 26.1% | 2.7% | ||
| Q3 24 | 7.1% | 8.3% | ||
| Q2 24 | 6.5% | 6.4% | ||
| Q1 24 | 5.3% | 5.9% |
| Q4 25 | 10.07× | — | ||
| Q3 25 | 1.25× | — | ||
| Q2 25 | 1.41× | — | ||
| Q1 25 | 1.76× | — | ||
| Q4 24 | 5.70× | — | ||
| Q3 24 | 1.31× | — | ||
| Q2 24 | 1.50× | 9.07× | ||
| Q1 24 | 2.38× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
