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Side-by-side financial comparison of SEALED AIR CORP (SEE) and Zscaler, Inc. (ZS). Click either name above to swap in a different company.
SEALED AIR CORP is the larger business by last-quarter revenue ($1.4B vs $788.1M, roughly 1.8× Zscaler, Inc.). SEALED AIR CORP runs the higher net margin — 3.1% vs -1.5%, a 4.6% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs 2.6%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $257.7M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 2.7%).
Sealed Air Corporation is a global provider of innovative packaging and protective solutions. Its core offerings include cushioning materials, food safety and preservation packaging, and sustainable waste-reducing packaging systems, serving retail, e-commerce, food and beverage, and industrial manufacturing markets worldwide.
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.
SEE vs ZS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $1.4B | $788.1M |
| Net Profit | $43.8M | $-11.6M |
| Gross Margin | 28.6% | 76.6% |
| Operating Margin | 11.4% | -4.6% |
| Net Margin | 3.1% | -1.5% |
| Revenue YoY | 2.6% | 25.5% |
| Net Profit YoY | 700.0% | 3.6% |
| EPS (diluted) | $0.30 | $-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 | $1.4B | $628.0M | ||
| Q3 24 | $1.3B | $592.9M | ||
| Q2 24 | $1.3B | $553.2M | ||
| Q1 24 | $1.3B | $525.0M |
| Q4 25 | $43.8M | $-11.6M | ||
| Q3 25 | $255.1M | $-17.6M | ||
| Q2 25 | $93.1M | $-4.1M | ||
| Q1 25 | $113.5M | $-7.7M | ||
| Q4 24 | $-7.3M | $-12.1M | ||
| Q3 24 | $91.7M | $-14.9M | ||
| Q2 24 | $98.3M | $19.1M | ||
| Q1 24 | $82.0M | $-28.5M |
| Q4 25 | 28.6% | 76.6% | ||
| Q3 25 | 29.8% | 76.1% | ||
| Q2 25 | 30.7% | 77.0% | ||
| Q1 25 | 30.9% | 77.1% | ||
| Q4 24 | 30.0% | 77.5% | ||
| Q3 24 | 30.1% | 78.0% | ||
| Q2 24 | 31.2% | 78.6% | ||
| Q1 24 | 30.3% | 77.7% |
| Q4 25 | 11.4% | -4.6% | ||
| Q3 25 | 13.8% | -4.5% | ||
| Q2 25 | 15.0% | -3.7% | ||
| Q1 25 | 14.5% | -6.2% | ||
| Q4 24 | 11.7% | -4.9% | ||
| Q3 24 | 13.9% | -4.5% | ||
| Q2 24 | 15.4% | -0.5% | ||
| Q1 24 | 14.0% | -8.7% |
| Q4 25 | 3.1% | -1.5% | ||
| Q3 25 | 19.0% | -2.4% | ||
| Q2 25 | 7.0% | -0.6% | ||
| Q1 25 | 9.0% | -1.2% | ||
| Q4 24 | -0.5% | -1.9% | ||
| Q3 24 | 6.9% | -2.5% | ||
| Q2 24 | 7.4% | 3.5% | ||
| Q1 24 | 6.2% | -5.4% |
| Q4 25 | $0.30 | $-0.07 | ||
| Q3 25 | $1.73 | $-0.11 | ||
| Q2 25 | $0.63 | $-0.03 | ||
| Q1 25 | $0.77 | $-0.05 | ||
| Q4 24 | $-0.05 | $-0.08 | ||
| Q3 24 | $0.63 | $-0.09 | ||
| Q2 24 | $0.67 | $0.12 | ||
| Q1 24 | $0.56 | $-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 | $344.0M | $1.3B |
| Total DebtLower is stronger | $3.3B | — |
| Stockholders' EquityBook value | $1.2B | $2.0B |
| Total Assets | $7.0B | $6.5B |
| Debt / EquityLower = less leverage | 2.65× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $344.0M | $1.3B | ||
| Q3 25 | $282.5M | $2.4B | ||
| Q2 25 | $354.4M | $2.0B | ||
| Q1 25 | $335.2M | $1.8B | ||
| Q4 24 | $371.8M | $1.6B | ||
| Q3 24 | $386.0M | $1.4B | ||
| Q2 24 | $388.6M | $1.3B | ||
| Q1 24 | $352.8M | $1.4B |
| Q4 25 | $3.3B | — | ||
| Q3 25 | $4.0B | — | ||
| Q2 25 | $4.0B | $1.1B | ||
| Q1 25 | $4.2B | $1.1B | ||
| Q4 24 | $4.2B | $1.1B | ||
| Q3 24 | $4.3B | $1.1B | ||
| Q2 24 | $4.4B | $1.1B | ||
| Q1 24 | $4.5B | $1.1B |
| Q4 25 | $1.2B | $2.0B | ||
| Q3 25 | $1.2B | $1.8B | ||
| Q2 25 | $953.1M | $1.8B | ||
| Q1 25 | $797.9M | $1.6B | ||
| Q4 24 | $624.5M | $1.4B | ||
| Q3 24 | $771.2M | $1.3B | ||
| Q2 24 | $650.1M | $1.1B | ||
| Q1 24 | $598.3M | $958.9M |
| Q4 25 | $7.0B | $6.5B | ||
| Q3 25 | $7.1B | $6.4B | ||
| Q2 25 | $7.2B | $5.3B | ||
| Q1 25 | $7.0B | $5.0B | ||
| Q4 24 | $7.0B | $4.7B | ||
| Q3 24 | $7.3B | $4.7B | ||
| Q2 24 | $7.3B | $4.2B | ||
| Q1 24 | $7.2B | $3.9B |
| Q4 25 | 2.65× | — | ||
| Q3 25 | 3.34× | — | ||
| Q2 25 | 4.18× | 0.64× | ||
| Q1 25 | 5.26× | 0.71× | ||
| Q4 24 | 6.72× | 0.80× | ||
| Q3 24 | 5.62× | 0.90× | ||
| Q2 24 | 6.81× | 1.04× | ||
| Q1 24 | 7.49× | 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 | $293.6M | $448.3M |
| Free Cash FlowOCF − Capex | $257.7M | $431.0M |
| FCF MarginFCF / Revenue | 18.5% | 54.7% |
| Capex IntensityCapex / Revenue | 2.6% | 2.2% |
| Cash ConversionOCF / Net Profit | 6.70× | — |
| TTM Free Cash FlowTrailing 4 quarters | $458.5M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $293.6M | $448.3M | ||
| Q3 25 | $165.9M | $250.6M | ||
| Q2 25 | $136.6M | $211.1M | ||
| Q1 25 | $31.9M | $179.4M | ||
| Q4 24 | $244.2M | $331.3M | ||
| Q3 24 | $170.5M | $203.6M | ||
| Q2 24 | $188.2M | $173.4M | ||
| Q1 24 | $125.1M | $142.1M |
| Q4 25 | $257.7M | $431.0M | ||
| Q3 25 | $119.6M | $190.6M | ||
| Q2 25 | $93.2M | $138.9M | ||
| Q1 25 | $-12.0M | $164.4M | ||
| Q4 24 | $185.1M | $314.3M | ||
| Q3 24 | $115.2M | $154.2M | ||
| Q2 24 | $129.5M | $137.8M | ||
| Q1 24 | $78.0M | $111.2M |
| Q4 25 | 18.5% | 54.7% | ||
| Q3 25 | 8.9% | 26.5% | ||
| Q2 25 | 7.0% | 20.5% | ||
| Q1 25 | -0.9% | 25.4% | ||
| Q4 24 | 13.6% | 50.1% | ||
| Q3 24 | 8.6% | 26.0% | ||
| Q2 24 | 9.7% | 24.9% | ||
| Q1 24 | 5.9% | 21.2% |
| Q4 25 | 2.6% | 2.2% | ||
| Q3 25 | 3.4% | 8.3% | ||
| Q2 25 | 3.3% | 10.6% | ||
| Q1 25 | 3.5% | 2.3% | ||
| Q4 24 | 4.4% | 2.7% | ||
| Q3 24 | 4.1% | 8.3% | ||
| Q2 24 | 4.4% | 6.4% | ||
| Q1 24 | 3.6% | 5.9% |
| Q4 25 | 6.70× | — | ||
| Q3 25 | 0.65× | — | ||
| Q2 25 | 1.47× | — | ||
| Q1 25 | 0.28× | — | ||
| Q4 24 | — | — | ||
| Q3 24 | 1.86× | — | ||
| Q2 24 | 1.91× | 9.07× | ||
| Q1 24 | 1.53× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
SEE
| Protective Segment | $1.1B | 78% |
| Other | $292.0M | 21% |
| Pension Plans Defined Benefit | $7.9M | 1% |
ZS
Segment breakdown not available.
