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Side-by-side financial comparison of PACS Group, Inc. (PACS) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
PACS Group, Inc. is the larger business by last-quarter revenue ($1.4B vs $788.1M, roughly 1.7× Zscaler, Inc.). PACS Group, Inc. runs the higher net margin — 4.4% vs -1.5%, a 5.9% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 18.4%). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 20.5%).
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.
PACS vs ZS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $788.1M |
| Net Profit | $59.7M | $-11.6M |
| Gross Margin | — | 76.6% |
| Operating Margin | 7.0% | -4.6% |
| Net Margin | 4.4% | -1.5% |
| Revenue YoY | 18.4% | 25.5% |
| Net Profit YoY | 3022.5% | 3.6% |
| EPS (diluted) | $0.42 | $-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 | $1.4B | $788.1M | ||
| Q3 25 | $1.3B | $719.2M | ||
| Q2 25 | $1.3B | $678.0M | ||
| Q1 25 | $1.3B | $647.9M | ||
| Q4 24 | $1.1B | $628.0M | ||
| Q3 24 | $1.0B | $592.9M | ||
| Q2 24 | $981.4M | $553.2M | ||
| Q1 24 | $934.3M | $525.0M |
| Q4 25 | $59.7M | $-11.6M | ||
| Q3 25 | $52.4M | $-17.6M | ||
| Q2 25 | $51.0M | $-4.1M | ||
| Q1 25 | $28.5M | $-7.7M | ||
| Q4 24 | $1.9M | $-12.1M | ||
| Q3 24 | $15.6M | $-14.9M | ||
| Q2 24 | $-10.9M | $19.1M | ||
| Q1 24 | $49.1M | $-28.5M |
| Q4 25 | — | 76.6% | ||
| Q3 25 | — | 76.1% | ||
| Q2 25 | — | 77.0% | ||
| Q1 25 | — | 77.1% | ||
| Q4 24 | — | 77.5% | ||
| Q3 24 | 17.1% | 78.0% | ||
| Q2 24 | 22.3% | 78.6% | ||
| Q1 24 | 21.2% | 77.7% |
| Q4 25 | 7.0% | -4.6% | ||
| Q3 25 | 6.4% | -4.5% | ||
| Q2 25 | 6.2% | -3.7% | ||
| Q1 25 | 3.8% | -6.2% | ||
| Q4 24 | 1.7% | -4.9% | ||
| Q3 24 | 2.2% | -4.5% | ||
| Q2 24 | 0.1% | -0.5% | ||
| Q1 24 | 8.6% | -8.7% |
| Q4 25 | 4.4% | -1.5% | ||
| Q3 25 | 3.9% | -2.4% | ||
| Q2 25 | 3.9% | -0.6% | ||
| Q1 25 | 2.2% | -1.2% | ||
| Q4 24 | 0.2% | -1.9% | ||
| Q3 24 | 1.5% | -2.5% | ||
| Q2 24 | -1.1% | 3.5% | ||
| Q1 24 | 5.3% | -5.4% |
| Q4 25 | $0.42 | $-0.07 | ||
| Q3 25 | $0.32 | $-0.11 | ||
| Q2 25 | $0.31 | $-0.03 | ||
| Q1 25 | $0.17 | $-0.05 | ||
| Q4 24 | $-0.03 | $-0.08 | ||
| Q3 24 | $0.10 | $-0.09 | ||
| Q2 24 | $-0.07 | $0.12 | ||
| Q1 24 | $0.38 | $-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 | $197.0M | $1.3B |
| Total DebtLower is stronger | $353.2M | — |
| Stockholders' EquityBook value | $946.8M | $2.0B |
| Total Assets | $5.6B | $6.5B |
| Debt / EquityLower = less leverage | 0.37× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $197.0M | $1.3B | ||
| Q3 25 | $355.7M | $2.4B | ||
| Q2 25 | $294.2M | $2.0B | ||
| Q1 25 | $287.5M | $1.8B | ||
| Q4 24 | $157.7M | $1.6B | ||
| Q3 24 | $49.5M | $1.4B | ||
| Q2 24 | $73.4M | $1.3B | ||
| Q1 24 | $81.2M | $1.4B |
| Q4 25 | $353.2M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $411.9M | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $946.8M | $2.0B | ||
| Q3 25 | $871.3M | $1.8B | ||
| Q2 25 | $806.8M | $1.8B | ||
| Q1 25 | $750.2M | $1.6B | ||
| Q4 24 | $709.6M | $1.4B | ||
| Q3 24 | $660.0M | $1.3B | ||
| Q2 24 | $572.1M | $1.1B | ||
| Q1 24 | $128.0M | $958.9M |
| Q4 25 | $5.6B | $6.5B | ||
| Q3 25 | $5.6B | $6.4B | ||
| Q2 25 | $5.5B | $5.3B | ||
| Q1 25 | $5.5B | $5.0B | ||
| Q4 24 | $5.2B | $4.7B | ||
| Q3 24 | $4.5B | $4.7B | ||
| Q2 24 | $3.9B | $4.2B | ||
| Q1 24 | $3.9B | $3.9B |
| Q4 25 | 0.37× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 0.58× | 0.80× | ||
| Q3 24 | — | 0.90× | ||
| Q2 24 | — | 1.04× | ||
| Q1 24 | — | 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 | $-3.4M | $448.3M |
| Free Cash FlowOCF − Capex | — | $431.0M |
| FCF MarginFCF / Revenue | — | 54.7% |
| Capex IntensityCapex / Revenue | — | 2.2% |
| Cash ConversionOCF / Net Profit | -0.06× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-3.4M | $448.3M | ||
| Q3 25 | $204.8M | $250.6M | ||
| Q2 25 | $52.6M | $211.1M | ||
| Q1 25 | $150.2M | $179.4M | ||
| Q4 24 | $64.6M | $331.3M | ||
| Q3 24 | $209.2M | $203.6M | ||
| Q2 24 | $34.8M | $173.4M | ||
| Q1 24 | $58.8M | $142.1M |
| 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 24 | — | $111.2M |
| 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 24 | — | 21.2% |
| 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 24 | — | 5.9% |
| Q4 25 | -0.06× | — | ||
| Q3 25 | 3.91× | — | ||
| Q2 25 | 1.03× | — | ||
| Q1 25 | 5.28× | — | ||
| Q4 24 | 33.78× | — | ||
| Q3 24 | 13.39× | — | ||
| Q2 24 | — | 9.07× | ||
| Q1 24 | 1.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
