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Side-by-side financial comparison of DONALDSON Co INC (DCI) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
DONALDSON Co INC is the larger business by last-quarter revenue ($935.4M vs $788.1M, roughly 1.2× Zscaler, Inc.). DONALDSON Co INC runs the higher net margin — 12.2% vs -1.5%, a 13.7% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 3.9%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $111.2M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 3.3%).
Donaldson Company, Inc. is a filtration company engaged in the production and marketing of filtration products used in a variety of industry sectors, including commercial/industrial, aerospace, chemical, alternative energy (windmills), food & beverage, and pharmaceuticals. Also the company's research division, located in Minneapolis, Minn., participated in defense-related projects for various military applications.
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.
DCI vs ZS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $935.4M | $788.1M |
| Net Profit | $113.9M | $-11.6M |
| Gross Margin | 35.2% | 76.6% |
| Operating Margin | 16.0% | -4.6% |
| Net Margin | 12.2% | -1.5% |
| Revenue YoY | 3.9% | 25.5% |
| Net Profit YoY | 15.1% | 3.6% |
| EPS (diluted) | $0.97 | $-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 | $935.4M | $788.1M | ||
| Q3 25 | $980.7M | $719.2M | ||
| Q2 25 | $940.1M | $678.0M | ||
| Q1 25 | $870.0M | $647.9M | ||
| Q4 24 | $900.1M | $628.0M | ||
| Q3 24 | $935.4M | $592.9M | ||
| Q2 24 | $927.9M | $553.2M | ||
| Q1 24 | $876.7M | $525.0M |
| Q4 25 | $113.9M | $-11.6M | ||
| Q3 25 | $114.3M | $-17.6M | ||
| Q2 25 | $57.8M | $-4.1M | ||
| Q1 25 | $95.9M | $-7.7M | ||
| Q4 24 | $99.0M | $-12.1M | ||
| Q3 24 | $109.7M | $-14.9M | ||
| Q2 24 | $113.5M | $19.1M | ||
| Q1 24 | $98.7M | $-28.5M |
| Q4 25 | 35.2% | 76.6% | ||
| Q3 25 | 34.5% | 76.1% | ||
| Q2 25 | 34.2% | 77.0% | ||
| Q1 25 | 35.2% | 77.1% | ||
| Q4 24 | 35.5% | 77.5% | ||
| Q3 24 | 35.8% | 78.0% | ||
| Q2 24 | 35.6% | 78.6% | ||
| Q1 24 | 35.2% | 77.7% |
| Q4 25 | 16.0% | -4.6% | ||
| Q3 25 | 15.5% | -4.5% | ||
| Q2 25 | 9.3% | -3.7% | ||
| Q1 25 | 14.4% | -6.2% | ||
| Q4 24 | 14.5% | -4.9% | ||
| Q3 24 | 15.6% | -4.5% | ||
| Q2 24 | 15.5% | -0.5% | ||
| Q1 24 | 14.8% | -8.7% |
| Q4 25 | 12.2% | -1.5% | ||
| Q3 25 | 11.7% | -2.4% | ||
| Q2 25 | 6.1% | -0.6% | ||
| Q1 25 | 11.0% | -1.2% | ||
| Q4 24 | 11.0% | -1.9% | ||
| Q3 24 | 11.7% | -2.5% | ||
| Q2 24 | 12.2% | 3.5% | ||
| Q1 24 | 11.3% | -5.4% |
| Q4 25 | $0.97 | $-0.07 | ||
| Q3 25 | $0.97 | $-0.11 | ||
| Q2 25 | $0.48 | $-0.03 | ||
| Q1 25 | $0.79 | $-0.05 | ||
| Q4 24 | $0.81 | $-0.08 | ||
| Q3 24 | $0.90 | $-0.09 | ||
| Q2 24 | $0.92 | $0.12 | ||
| Q1 24 | $0.81 | $-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 | $210.7M | $1.3B |
| Total DebtLower is stronger | $671.5M | — |
| Stockholders' EquityBook value | $1.5B | $2.0B |
| Total Assets | $3.0B | $6.5B |
| Debt / EquityLower = less leverage | 0.44× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $210.7M | $1.3B | ||
| Q3 25 | $180.4M | $2.4B | ||
| Q2 25 | $178.5M | $2.0B | ||
| Q1 25 | $189.1M | $1.8B | ||
| Q4 24 | $221.2M | $1.6B | ||
| Q3 24 | $232.7M | $1.4B | ||
| Q2 24 | $223.7M | $1.3B | ||
| Q1 24 | $193.8M | $1.4B |
| Q4 25 | $671.5M | — | ||
| Q3 25 | $630.4M | — | ||
| Q2 25 | $638.8M | $1.1B | ||
| Q1 25 | $514.7M | $1.1B | ||
| Q4 24 | $538.6M | $1.1B | ||
| Q3 24 | $483.4M | $1.1B | ||
| Q2 24 | $481.8M | $1.1B | ||
| Q1 24 | $352.0M | $1.1B |
| Q4 25 | $1.5B | $2.0B | ||
| Q3 25 | $1.5B | $1.8B | ||
| Q2 25 | $1.5B | $1.8B | ||
| Q1 25 | $1.5B | $1.6B | ||
| Q4 24 | $1.5B | $1.4B | ||
| Q3 24 | $1.5B | $1.3B | ||
| Q2 24 | $1.5B | $1.1B | ||
| Q1 24 | $1.4B | $958.9M |
| Q4 25 | $3.0B | $6.5B | ||
| Q3 25 | $3.0B | $6.4B | ||
| Q2 25 | $3.0B | $5.3B | ||
| Q1 25 | $3.0B | $5.0B | ||
| Q4 24 | $3.0B | $4.7B | ||
| Q3 24 | $2.9B | $4.7B | ||
| Q2 24 | $2.9B | $4.2B | ||
| Q1 24 | $2.8B | $3.9B |
| Q4 25 | 0.44× | — | ||
| Q3 25 | 0.43× | — | ||
| Q2 25 | 0.44× | 0.64× | ||
| Q1 25 | 0.33× | 0.71× | ||
| Q4 24 | 0.35× | 0.80× | ||
| Q3 24 | 0.32× | 0.90× | ||
| Q2 24 | 0.32× | 1.04× | ||
| Q1 24 | 0.26× | 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 | $125.4M | $448.3M |
| Free Cash FlowOCF − Capex | $111.2M | $431.0M |
| FCF MarginFCF / Revenue | 11.9% | 54.7% |
| Capex IntensityCapex / Revenue | 1.5% | 2.2% |
| Cash ConversionOCF / Net Profit | 1.10× | — |
| TTM Free Cash FlowTrailing 4 quarters | $403.2M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $125.4M | $448.3M | ||
| Q3 25 | $167.8M | $250.6M | ||
| Q2 25 | $87.7M | $211.1M | ||
| Q1 25 | $90.4M | $179.4M | ||
| Q4 24 | $72.9M | $331.3M | ||
| Q3 24 | $126.0M | $203.6M | ||
| Q2 24 | $141.5M | $173.4M | ||
| Q1 24 | $87.0M | $142.1M |
| Q4 25 | $111.2M | $431.0M | ||
| Q3 25 | $147.5M | $190.6M | ||
| Q2 25 | $73.0M | $138.9M | ||
| Q1 25 | $71.5M | $164.4M | ||
| Q4 24 | $47.9M | $314.3M | ||
| Q3 24 | $106.2M | $154.2M | ||
| Q2 24 | $120.2M | $137.8M | ||
| Q1 24 | $65.7M | $111.2M |
| Q4 25 | 11.9% | 54.7% | ||
| Q3 25 | 15.0% | 26.5% | ||
| Q2 25 | 7.8% | 20.5% | ||
| Q1 25 | 8.2% | 25.4% | ||
| Q4 24 | 5.3% | 50.1% | ||
| Q3 24 | 11.4% | 26.0% | ||
| Q2 24 | 13.0% | 24.9% | ||
| Q1 24 | 7.5% | 21.2% |
| Q4 25 | 1.5% | 2.2% | ||
| Q3 25 | 2.1% | 8.3% | ||
| Q2 25 | 1.6% | 10.6% | ||
| Q1 25 | 2.2% | 2.3% | ||
| Q4 24 | 2.8% | 2.7% | ||
| Q3 24 | 2.1% | 8.3% | ||
| Q2 24 | 2.3% | 6.4% | ||
| Q1 24 | 2.4% | 5.9% |
| Q4 25 | 1.10× | — | ||
| Q3 25 | 1.47× | — | ||
| Q2 25 | 1.52× | — | ||
| Q1 25 | 0.94× | — | ||
| Q4 24 | 0.74× | — | ||
| Q3 24 | 1.15× | — | ||
| Q2 24 | 1.25× | 9.07× | ||
| Q1 24 | 0.88× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DCI
| Aftermarket Products | $447.1M | 48% |
| Industrial Filtration Solutions Products | $222.6M | 24% |
| Off Road Products | $86.5M | 9% |
| Life Sciences Segment | $80.0M | 9% |
| Other | $39.1M | 4% |
| Aerospace And Defense Products | $37.1M | 4% |
| On Road Products | $23.0M | 2% |
ZS
Segment breakdown not available.
