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Side-by-side financial comparison of Dolby Laboratories, Inc. (DLB) 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 $395.6M, roughly 2.0× Dolby Laboratories, Inc.). Dolby Laboratories, Inc. runs the higher net margin — 24.0% vs -1.5%, a 25.5% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 7.1%). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 13.9%).
Dolby Laboratories, Inc. is an American technology corporation specializing in audio noise reduction, audio encoding/compression, spatial audio, and high-dynamic-range television (HDR) imaging. Dolby licenses its technologies to consumer electronics manufacturers.
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.
DLB vs ZS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $395.6M | $788.1M |
| Net Profit | $94.9M | $-11.6M |
| Gross Margin | 88.7% | 76.6% |
| Operating Margin | 28.5% | -4.6% |
| Net Margin | 24.0% | -1.5% |
| Revenue YoY | 7.1% | 25.5% |
| Net Profit YoY | 3.4% | 3.6% |
| EPS (diluted) | $0.99 | $-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.
| Q2 26 | $395.6M | — | ||
| Q1 26 | $346.7M | — | ||
| Q4 25 | $346.7M | $788.1M | ||
| Q3 25 | $307.0M | $719.2M | ||
| Q2 25 | $315.5M | $678.0M | ||
| Q1 25 | $369.6M | $647.9M | ||
| Q4 24 | $357.0M | $628.0M | ||
| Q3 24 | $304.8M | $592.9M |
| Q2 26 | $94.9M | — | ||
| Q1 26 | $53.3M | — | ||
| Q4 25 | $53.3M | $-11.6M | ||
| Q3 25 | $49.3M | $-17.6M | ||
| Q2 25 | $46.1M | $-4.1M | ||
| Q1 25 | $91.8M | $-7.7M | ||
| Q4 24 | $67.8M | $-12.1M | ||
| Q3 24 | $58.6M | $-14.9M |
| Q2 26 | 88.7% | — | ||
| Q1 26 | 87.5% | — | ||
| Q4 25 | 87.5% | 76.6% | ||
| Q3 25 | 87.1% | 76.1% | ||
| Q2 25 | 86.1% | 77.0% | ||
| Q1 25 | 90.3% | 77.1% | ||
| Q4 24 | 88.6% | 77.5% | ||
| Q3 24 | 88.8% | 78.0% |
| Q2 26 | 28.5% | — | ||
| Q1 26 | 17.9% | — | ||
| Q4 25 | 17.9% | -4.6% | ||
| Q3 25 | 9.7% | -4.5% | ||
| Q2 25 | 15.1% | -3.7% | ||
| Q1 25 | 29.2% | -6.2% | ||
| Q4 24 | 22.4% | -4.9% | ||
| Q3 24 | 15.2% | -4.5% |
| Q2 26 | 24.0% | — | ||
| Q1 26 | 15.4% | — | ||
| Q4 25 | 15.4% | -1.5% | ||
| Q3 25 | 16.1% | -2.4% | ||
| Q2 25 | 14.6% | -0.6% | ||
| Q1 25 | 24.8% | -1.2% | ||
| Q4 24 | 19.0% | -1.9% | ||
| Q3 24 | 19.2% | -2.5% |
| Q2 26 | $0.99 | — | ||
| Q1 26 | $0.55 | — | ||
| Q4 25 | $0.55 | $-0.07 | ||
| Q3 25 | $0.50 | $-0.11 | ||
| Q2 25 | $0.48 | $-0.03 | ||
| Q1 25 | $0.94 | $-0.05 | ||
| Q4 24 | $0.70 | $-0.08 | ||
| Q3 24 | $0.59 | $-0.09 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $594.7M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $2.6B | $2.0B |
| Total Assets | $3.2B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $594.7M | — | ||
| Q1 26 | $644.6M | — | ||
| Q4 25 | $644.6M | $1.3B | ||
| Q3 25 | $702.6M | $2.4B | ||
| Q2 25 | $699.3M | $2.0B | ||
| Q1 25 | $626.6M | $1.8B | ||
| Q4 24 | $520.8M | $1.6B | ||
| Q3 24 | $482.0M | $1.4B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B |
| Q2 26 | $2.6B | — | ||
| Q1 26 | $2.6B | — | ||
| Q4 25 | $2.6B | $2.0B | ||
| Q3 25 | $2.6B | $1.8B | ||
| Q2 25 | $2.6B | $1.8B | ||
| Q1 25 | $2.6B | $1.6B | ||
| Q4 24 | $2.5B | $1.4B | ||
| Q3 24 | $2.5B | $1.3B |
| Q2 26 | $3.2B | — | ||
| Q1 26 | $3.2B | — | ||
| Q4 25 | $3.2B | $6.5B | ||
| Q3 25 | $3.2B | $6.4B | ||
| Q2 25 | $3.2B | $5.3B | ||
| Q1 25 | $3.2B | $5.0B | ||
| Q4 24 | $3.2B | $4.7B | ||
| Q3 24 | $3.1B | $4.7B |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× |
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 | $147.3M | $448.3M |
| Free Cash FlowOCF − Capex | — | $431.0M |
| FCF MarginFCF / Revenue | — | 54.7% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | 1.55× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q2 26 | $147.3M | — | ||
| Q1 26 | $54.8M | — | ||
| Q4 25 | $54.8M | $448.3M | ||
| Q3 25 | $472.2M | $250.6M | ||
| Q2 25 | $67.7M | $211.1M | ||
| Q1 25 | $174.9M | $179.4M | ||
| Q4 24 | $106.8M | $331.3M | ||
| Q3 24 | $327.3M | $203.6M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | $50.2M | $431.0M | ||
| Q3 25 | $435.9M | $190.6M | ||
| Q2 25 | $61.3M | $138.9M | ||
| Q1 25 | $168.0M | $164.4M | ||
| Q4 24 | $100.0M | $314.3M | ||
| Q3 24 | $297.2M | $154.2M |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 14.5% | 54.7% | ||
| Q3 25 | 142.0% | 26.5% | ||
| Q2 25 | 19.4% | 20.5% | ||
| Q1 25 | 45.5% | 25.4% | ||
| Q4 24 | 28.0% | 50.1% | ||
| Q3 24 | 97.5% | 26.0% |
| Q2 26 | — | — | ||
| Q1 26 | — | — | ||
| Q4 25 | 1.3% | 2.2% | ||
| Q3 25 | 11.8% | 8.3% | ||
| Q2 25 | 2.0% | 10.6% | ||
| Q1 25 | 1.9% | 2.3% | ||
| Q4 24 | 1.9% | 2.7% | ||
| Q3 24 | 9.8% | 8.3% |
| Q2 26 | 1.55× | — | ||
| Q1 26 | 1.03× | — | ||
| Q4 25 | 1.03× | — | ||
| Q3 25 | 9.57× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 1.91× | — | ||
| Q4 24 | 1.57× | — | ||
| Q3 24 | 5.59× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
DLB
| Licensing | $372.2M | 94% |
| Products and services | $23.4M | 6% |
ZS
Segment breakdown not available.
