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Side-by-side financial comparison of Incyte (INCY) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
Incyte is the larger business by last-quarter revenue ($1.3B vs $788.1M, roughly 1.6× Zscaler, Inc.). Incyte runs the higher net margin — 23.8% vs -1.5%, a 25.3% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 19.8%). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 10.4%).
Incyte Corporation is an American multinational pharmaceutical company with headquarters in Wilmington, Delaware. The company currently operates manufacturing and R&D locations in North America, Europe, and Asia.
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.
INCY vs ZS — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.3B | $788.1M |
| Net Profit | $303.3M | $-11.6M |
| Gross Margin | — | 76.6% |
| Operating Margin | 23.7% | -4.6% |
| Net Margin | 23.8% | -1.5% |
| Revenue YoY | 19.8% | 25.5% |
| Net Profit YoY | 91.7% | 3.6% |
| EPS (diluted) | $1.47 | $-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.
| Q1 26 | $1.3B | — | ||
| Q4 25 | $1.5B | $788.1M | ||
| Q3 25 | $1.4B | $719.2M | ||
| Q2 25 | $1.2B | $678.0M | ||
| Q1 25 | $1.1B | $647.9M | ||
| Q4 24 | $1.2B | $628.0M | ||
| Q3 24 | $1.1B | $592.9M | ||
| Q2 24 | $1.0B | $553.2M |
| Q1 26 | $303.3M | — | ||
| Q4 25 | $299.3M | $-11.6M | ||
| Q3 25 | $424.2M | $-17.6M | ||
| Q2 25 | $405.0M | $-4.1M | ||
| Q1 25 | $158.2M | $-7.7M | ||
| Q4 24 | $201.2M | $-12.1M | ||
| Q3 24 | $106.5M | $-14.9M | ||
| Q2 24 | $-444.6M | $19.1M |
| Q1 26 | — | — | ||
| Q4 25 | 92.0% | 76.6% | ||
| Q3 25 | 92.8% | 76.1% | ||
| Q2 25 | 93.5% | 77.0% | ||
| Q1 25 | 93.0% | 77.1% | ||
| Q4 24 | 92.5% | 77.5% | ||
| Q3 24 | 92.4% | 78.0% | ||
| Q2 24 | 92.7% | 78.6% |
| Q1 26 | 23.7% | — | ||
| Q4 25 | 22.3% | -4.6% | ||
| Q3 25 | 32.5% | -4.5% | ||
| Q2 25 | 43.6% | -3.7% | ||
| Q1 25 | 19.5% | -6.2% | ||
| Q4 24 | 25.6% | -4.9% | ||
| Q3 24 | 12.8% | -4.5% | ||
| Q2 24 | -45.8% | -0.5% |
| Q1 26 | 23.8% | — | ||
| Q4 25 | 19.9% | -1.5% | ||
| Q3 25 | 31.1% | -2.4% | ||
| Q2 25 | 33.3% | -0.6% | ||
| Q1 25 | 15.0% | -1.2% | ||
| Q4 24 | 17.1% | -1.9% | ||
| Q3 24 | 9.4% | -2.5% | ||
| Q2 24 | -42.6% | 3.5% |
| Q1 26 | $1.47 | — | ||
| Q4 25 | $1.46 | $-0.07 | ||
| Q3 25 | $2.11 | $-0.11 | ||
| Q2 25 | $2.04 | $-0.03 | ||
| Q1 25 | $0.80 | $-0.05 | ||
| Q4 24 | $0.90 | $-0.08 | ||
| Q3 24 | $0.54 | $-0.09 | ||
| Q2 24 | $-2.04 | $0.12 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | — | $1.3B |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $5.6B | $2.0B |
| Total Assets | $7.3B | $6.5B |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $3.1B | $1.3B | ||
| Q3 25 | $2.5B | $2.4B | ||
| Q2 25 | $2.0B | $2.0B | ||
| Q1 25 | $1.9B | $1.8B | ||
| Q4 24 | $1.7B | $1.6B | ||
| Q3 24 | $1.3B | $1.4B | ||
| Q2 24 | $987.3M | $1.3B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | — | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B |
| Q1 26 | $5.6B | — | ||
| Q4 25 | $5.2B | $2.0B | ||
| Q3 25 | $4.7B | $1.8B | ||
| Q2 25 | $4.2B | $1.8B | ||
| Q1 25 | $3.7B | $1.6B | ||
| Q4 24 | $3.4B | $1.4B | ||
| Q3 24 | $3.2B | $1.3B | ||
| Q2 24 | $3.0B | $1.1B |
| Q1 26 | $7.3B | — | ||
| Q4 25 | $7.0B | $6.5B | ||
| Q3 25 | $6.3B | $6.4B | ||
| Q2 25 | $5.8B | $5.3B | ||
| Q1 25 | $5.7B | $5.0B | ||
| Q4 24 | $5.4B | $4.7B | ||
| Q3 24 | $5.0B | $4.7B | ||
| Q2 24 | $4.7B | $4.2B |
| Q1 26 | — | — | ||
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | — | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× |
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 | — | $448.3M |
| Free Cash FlowOCF − Capex | — | $431.0M |
| FCF MarginFCF / Revenue | — | 54.7% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | — | — | ||
| Q4 25 | $543.3M | $448.3M | ||
| Q3 25 | $559.4M | $250.6M | ||
| Q2 25 | $44.7M | $211.1M | ||
| Q1 25 | $266.1M | $179.4M | ||
| Q4 24 | $381.2M | $331.3M | ||
| Q3 24 | $310.9M | $203.6M | ||
| Q2 24 | $-575.6M | $173.4M |
| Q1 26 | — | — | ||
| Q4 25 | — | $431.0M | ||
| Q3 25 | — | $190.6M | ||
| Q2 25 | — | $138.9M | ||
| Q1 25 | — | $164.4M | ||
| Q4 24 | — | $314.3M | ||
| Q3 24 | — | $154.2M | ||
| Q2 24 | — | $137.8M |
| Q1 26 | — | — | ||
| Q4 25 | — | 54.7% | ||
| Q3 25 | — | 26.5% | ||
| Q2 25 | — | 20.5% | ||
| Q1 25 | — | 25.4% | ||
| Q4 24 | — | 50.1% | ||
| Q3 24 | — | 26.0% | ||
| Q2 24 | — | 24.9% |
| Q1 26 | — | — | ||
| Q4 25 | — | 2.2% | ||
| Q3 25 | — | 8.3% | ||
| Q2 25 | — | 10.6% | ||
| Q1 25 | — | 2.3% | ||
| Q4 24 | — | 2.7% | ||
| Q3 24 | — | 8.3% | ||
| Q2 24 | — | 6.4% |
| Q1 26 | — | — | ||
| Q4 25 | 1.82× | — | ||
| Q3 25 | 1.32× | — | ||
| Q2 25 | 0.11× | — | ||
| Q1 25 | 1.68× | — | ||
| Q4 24 | 1.89× | — | ||
| Q3 24 | 2.92× | — | ||
| Q2 24 | — | 9.07× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
