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Side-by-side financial comparison of EnerSys (ENS) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
EnerSys is the larger business by last-quarter revenue ($919.1M vs $788.1M, roughly 1.2× Zscaler, Inc.). EnerSys runs the higher net margin — 9.8% vs -1.5%, a 11.3% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 1.4%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $171.3M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 0.5%).
EnerSys is a stored energy systems and technology provider for industrial applications. The company manufactures reserve-power and motive-power batteries, battery chargers, power equipment, battery accessories and outdoor equipment enclosures.
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.
ENS vs ZS — Head-to-Head
Income Statement — Q3 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $919.1M | $788.1M |
| Net Profit | $90.4M | $-11.6M |
| Gross Margin | 30.1% | 76.6% |
| Operating Margin | 13.5% | -4.6% |
| Net Margin | 9.8% | -1.5% |
| Revenue YoY | 1.4% | 25.5% |
| Net Profit YoY | -21.3% | 3.6% |
| EPS (diluted) | $2.40 | $-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 | $919.1M | $788.1M | ||
| Q3 25 | $951.3M | $719.2M | ||
| Q2 25 | $893.0M | $678.0M | ||
| Q1 25 | $974.8M | $647.9M | ||
| Q4 24 | $906.2M | $628.0M | ||
| Q3 24 | $883.7M | $592.9M | ||
| Q2 24 | $852.9M | $553.2M | ||
| Q1 24 | $910.7M | $525.0M |
| Q4 25 | $90.4M | $-11.6M | ||
| Q3 25 | $68.4M | $-17.6M | ||
| Q2 25 | $57.5M | $-4.1M | ||
| Q1 25 | $96.5M | $-7.7M | ||
| Q4 24 | $114.8M | $-12.1M | ||
| Q3 24 | $82.3M | $-14.9M | ||
| Q2 24 | $70.1M | $19.1M | ||
| Q1 24 | $60.9M | $-28.5M |
| Q4 25 | 30.1% | 76.6% | ||
| Q3 25 | 29.1% | 76.1% | ||
| Q2 25 | 28.4% | 77.0% | ||
| Q1 25 | 31.2% | 77.1% | ||
| Q4 24 | 32.9% | 77.5% | ||
| Q3 24 | 28.5% | 78.0% | ||
| Q2 24 | 27.9% | 78.6% | ||
| Q1 24 | 27.9% | 77.7% |
| Q4 25 | 13.5% | -4.6% | ||
| Q3 25 | 9.7% | -4.5% | ||
| Q2 25 | 9.7% | -3.7% | ||
| Q1 25 | 13.5% | -6.2% | ||
| Q4 24 | 15.7% | -4.9% | ||
| Q3 24 | 11.2% | -4.5% | ||
| Q2 24 | 10.7% | -0.5% | ||
| Q1 24 | 8.9% | -8.7% |
| Q4 25 | 9.8% | -1.5% | ||
| Q3 25 | 7.2% | -2.4% | ||
| Q2 25 | 6.4% | -0.6% | ||
| Q1 25 | 9.9% | -1.2% | ||
| Q4 24 | 12.7% | -1.9% | ||
| Q3 24 | 9.3% | -2.5% | ||
| Q2 24 | 8.2% | 3.5% | ||
| Q1 24 | 6.7% | -5.4% |
| Q4 25 | $2.40 | $-0.07 | ||
| Q3 25 | $1.80 | $-0.11 | ||
| Q2 25 | $1.46 | $-0.03 | ||
| Q1 25 | $2.39 | $-0.05 | ||
| Q4 24 | $2.88 | $-0.08 | ||
| Q3 24 | $2.01 | $-0.09 | ||
| Q2 24 | $1.71 | $0.12 | ||
| Q1 24 | $1.48 | $-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 | $450.1M | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.9B | $2.0B |
| Total Assets | $4.0B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $450.1M | $1.3B | ||
| Q3 25 | $388.6M | $2.4B | ||
| Q2 25 | $346.7M | $2.0B | ||
| Q1 25 | $343.1M | $1.8B | ||
| Q4 24 | $463.2M | $1.6B | ||
| Q3 24 | $407.9M | $1.4B | ||
| Q2 24 | $344.1M | $1.3B | ||
| Q1 24 | $333.3M | $1.4B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | $1.1B | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | $802.0M | $1.1B |
| Q4 25 | $1.9B | $2.0B | ||
| Q3 25 | $1.9B | $1.8B | ||
| Q2 25 | $1.9B | $1.8B | ||
| Q1 25 | $1.9B | $1.6B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.8B | $1.1B | ||
| Q1 24 | $1.8B | $958.9M |
| Q4 25 | $4.0B | $6.5B | ||
| Q3 25 | $4.1B | $6.4B | ||
| Q2 25 | $4.1B | $5.3B | ||
| Q1 25 | $4.0B | $5.0B | ||
| Q4 24 | $4.0B | $4.7B | ||
| Q3 24 | $4.0B | $4.7B | ||
| Q2 24 | $3.6B | $4.2B | ||
| Q1 24 | $3.5B | $3.9B |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | 0.57× | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | 0.46× | 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 | $184.6M | $448.3M |
| Free Cash FlowOCF − Capex | $171.3M | $431.0M |
| FCF MarginFCF / Revenue | 18.6% | 54.7% |
| Capex IntensityCapex / Revenue | 1.4% | 2.2% |
| Cash ConversionOCF / Net Profit | 2.04× | — |
| TTM Free Cash FlowTrailing 4 quarters | $441.3M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $184.6M | $448.3M | ||
| Q3 25 | $218.0M | $250.6M | ||
| Q2 25 | $968.0K | $211.1M | ||
| Q1 25 | $135.2M | $179.4M | ||
| Q4 24 | $81.1M | $331.3M | ||
| Q3 24 | $33.6M | $203.6M | ||
| Q2 24 | $10.4M | $173.4M | ||
| Q1 24 | — | $142.1M |
| Q4 25 | $171.3M | $431.0M | ||
| Q3 25 | $197.1M | $190.6M | ||
| Q2 25 | $-32.1M | $138.9M | ||
| Q1 25 | $104.9M | $164.4M | ||
| Q4 24 | $56.8M | $314.3M | ||
| Q3 24 | $3.3M | $154.2M | ||
| Q2 24 | $-25.7M | $137.8M | ||
| Q1 24 | — | $111.2M |
| Q4 25 | 18.6% | 54.7% | ||
| Q3 25 | 20.7% | 26.5% | ||
| Q2 25 | -3.6% | 20.5% | ||
| Q1 25 | 10.8% | 25.4% | ||
| Q4 24 | 6.3% | 50.1% | ||
| Q3 24 | 0.4% | 26.0% | ||
| Q2 24 | -3.0% | 24.9% | ||
| Q1 24 | — | 21.2% |
| Q4 25 | 1.4% | 2.2% | ||
| Q3 25 | 2.2% | 8.3% | ||
| Q2 25 | 3.7% | 10.6% | ||
| Q1 25 | 3.1% | 2.3% | ||
| Q4 24 | 2.7% | 2.7% | ||
| Q3 24 | 3.4% | 8.3% | ||
| Q2 24 | 4.2% | 6.4% | ||
| Q1 24 | — | 5.9% |
| Q4 25 | 2.04× | — | ||
| Q3 25 | 3.19× | — | ||
| Q2 25 | 0.02× | — | ||
| Q1 25 | 1.40× | — | ||
| Q4 24 | 0.71× | — | ||
| Q3 24 | 0.41× | — | ||
| Q2 24 | 0.15× | 9.07× | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ENS
| Energy Systems | $399.5M | 43% |
| Motive Power | $352.0M | 38% |
| Services | $92.6M | 10% |
| Transferred Over Time | $38.2M | 4% |
| Other | $36.8M | 4% |
ZS
Segment breakdown not available.
