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Side-by-side financial comparison of ZIFF DAVIS, INC. (ZD) 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 $406.7M, roughly 1.9× ZIFF DAVIS, INC.). ZIFF DAVIS, INC. runs the higher net margin — 0.1% vs -1.5%, a 1.6% gap on every dollar of revenue. On growth, Zscaler, Inc. posted the faster year-over-year revenue change (25.5% vs -1.5%). Zscaler, Inc. produced more free cash flow last quarter ($431.0M vs $157.8M). Over the past eight quarters, Zscaler, Inc.'s revenue compounded faster (22.5% CAGR vs 13.7%).
Ziff Davis, Inc. is an American digital media and Internet company. Founded in 1927 by William Bernard Ziff Sr. and Bernard George Davis, the company primarily owns technology- and health-oriented media websites, online shopping-related services, Internet connectivity services, gaming and entertainment brands, and cybersecurity and martech tools. Previously, the company was predominantly a publisher of hobbyist magazines.
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.
ZD vs ZS — Head-to-Head
Income Statement — Q4 FY2025 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $406.7M | $788.1M |
| Net Profit | $370.0K | $-11.6M |
| Gross Margin | 85.9% | 76.6% |
| Operating Margin | 21.2% | -4.6% |
| Net Margin | 0.1% | -1.5% |
| Revenue YoY | -1.5% | 25.5% |
| Net Profit YoY | -99.4% | 3.6% |
| EPS (diluted) | $0.06 | $-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 | $406.7M | $788.1M | ||
| Q3 25 | $363.7M | $719.2M | ||
| Q2 25 | $352.2M | $678.0M | ||
| Q1 25 | $328.6M | $647.9M | ||
| Q4 24 | $412.8M | $628.0M | ||
| Q3 24 | $353.6M | $592.9M | ||
| Q2 24 | $320.8M | $553.2M | ||
| Q1 24 | $314.5M | $525.0M |
| Q4 25 | $370.0K | $-11.6M | ||
| Q3 25 | $-3.6M | $-17.6M | ||
| Q2 25 | $26.3M | $-4.1M | ||
| Q1 25 | $24.2M | $-7.7M | ||
| Q4 24 | $64.1M | $-12.1M | ||
| Q3 24 | $-48.6M | $-14.9M | ||
| Q2 24 | $36.9M | $19.1M | ||
| Q1 24 | $10.6M | $-28.5M |
| Q4 25 | 85.9% | 76.6% | ||
| Q3 25 | 85.4% | 76.1% | ||
| Q2 25 | 86.1% | 77.0% | ||
| Q1 25 | 85.6% | 77.1% | ||
| Q4 24 | 87.1% | 77.5% | ||
| Q3 24 | 85.5% | 78.0% | ||
| Q2 24 | 84.4% | 78.6% | ||
| Q1 24 | 85.4% | 77.7% |
| Q4 25 | 21.2% | -4.6% | ||
| Q3 25 | 7.8% | -4.5% | ||
| Q2 25 | 9.5% | -3.7% | ||
| Q1 25 | 10.7% | -6.2% | ||
| Q4 24 | 19.0% | -4.9% | ||
| Q3 24 | -8.3% | -4.5% | ||
| Q2 24 | 8.9% | -0.5% | ||
| Q1 24 | 11.4% | -8.7% |
| Q4 25 | 0.1% | -1.5% | ||
| Q3 25 | -1.0% | -2.4% | ||
| Q2 25 | 7.5% | -0.6% | ||
| Q1 25 | 7.4% | -1.2% | ||
| Q4 24 | 15.5% | -1.9% | ||
| Q3 24 | -13.7% | -2.5% | ||
| Q2 24 | 11.5% | 3.5% | ||
| Q1 24 | 3.4% | -5.4% |
| Q4 25 | $0.06 | $-0.07 | ||
| Q3 25 | $-0.09 | $-0.11 | ||
| Q2 25 | $0.62 | $-0.03 | ||
| Q1 25 | $0.56 | $-0.05 | ||
| Q4 24 | $1.53 | $-0.08 | ||
| Q3 24 | $-1.11 | $-0.09 | ||
| Q2 24 | $0.77 | $0.12 | ||
| Q1 24 | $0.23 | $-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 | $607.0M | $1.3B |
| Total DebtLower is stronger | $866.5M | — |
| Stockholders' EquityBook value | $1.8B | $2.0B |
| Total Assets | $3.7B | $6.5B |
| Debt / EquityLower = less leverage | 0.49× | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $607.0M | $1.3B | ||
| Q3 25 | $503.4M | $2.4B | ||
| Q2 25 | $457.3M | $2.0B | ||
| Q1 25 | $431.0M | $1.8B | ||
| Q4 24 | $505.9M | $1.6B | ||
| Q3 24 | $386.1M | $1.4B | ||
| Q2 24 | $687.2M | $1.3B | ||
| Q1 24 | $751.2M | $1.4B |
| Q4 25 | $866.5M | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | $1.1B | ||
| Q1 25 | — | $1.1B | ||
| Q4 24 | $864.3M | $1.1B | ||
| Q3 24 | — | $1.1B | ||
| Q2 24 | — | $1.1B | ||
| Q1 24 | — | $1.1B |
| Q4 25 | $1.8B | $2.0B | ||
| Q3 25 | $1.8B | $1.8B | ||
| Q2 25 | $1.8B | $1.8B | ||
| Q1 25 | $1.8B | $1.6B | ||
| Q4 24 | $1.8B | $1.4B | ||
| Q3 24 | $1.8B | $1.3B | ||
| Q2 24 | $1.9B | $1.1B | ||
| Q1 24 | $1.9B | $958.9M |
| Q4 25 | $3.7B | $6.5B | ||
| Q3 25 | $3.5B | $6.4B | ||
| Q2 25 | $3.5B | $5.3B | ||
| Q1 25 | $3.5B | $5.0B | ||
| Q4 24 | $3.7B | $4.7B | ||
| Q3 24 | $3.4B | $4.7B | ||
| Q2 24 | $3.7B | $4.2B | ||
| Q1 24 | $3.7B | $3.9B |
| Q4 25 | 0.49× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | 0.64× | ||
| Q1 25 | — | 0.71× | ||
| Q4 24 | 0.48× | 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 | $191.1M | $448.3M |
| Free Cash FlowOCF − Capex | $157.8M | $431.0M |
| FCF MarginFCF / Revenue | 38.8% | 54.7% |
| Capex IntensityCapex / Revenue | 8.2% | 2.2% |
| Cash ConversionOCF / Net Profit | 516.44× | — |
| TTM Free Cash FlowTrailing 4 quarters | $287.9M | $924.9M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $191.1M | $448.3M | ||
| Q3 25 | $138.3M | $250.6M | ||
| Q2 25 | $57.1M | $211.1M | ||
| Q1 25 | $20.6M | $179.4M | ||
| Q4 24 | $158.2M | $331.3M | ||
| Q3 24 | $106.0M | $203.6M | ||
| Q2 24 | $50.6M | $173.4M | ||
| Q1 24 | $75.6M | $142.1M |
| Q4 25 | $157.8M | $431.0M | ||
| Q3 25 | $108.2M | $190.6M | ||
| Q2 25 | $26.9M | $138.9M | ||
| Q1 25 | $-5.0M | $164.4M | ||
| Q4 24 | $131.1M | $314.3M | ||
| Q3 24 | $80.1M | $154.2M | ||
| Q2 24 | $25.1M | $137.8M | ||
| Q1 24 | $47.4M | $111.2M |
| Q4 25 | 38.8% | 54.7% | ||
| Q3 25 | 29.7% | 26.5% | ||
| Q2 25 | 7.6% | 20.5% | ||
| Q1 25 | -1.5% | 25.4% | ||
| Q4 24 | 31.8% | 50.1% | ||
| Q3 24 | 22.7% | 26.0% | ||
| Q2 24 | 7.8% | 24.9% | ||
| Q1 24 | 15.1% | 21.2% |
| Q4 25 | 8.2% | 2.2% | ||
| Q3 25 | 8.3% | 8.3% | ||
| Q2 25 | 8.6% | 10.6% | ||
| Q1 25 | 7.8% | 2.3% | ||
| Q4 24 | 6.6% | 2.7% | ||
| Q3 24 | 7.3% | 8.3% | ||
| Q2 24 | 8.0% | 6.4% | ||
| Q1 24 | 8.9% | 5.9% |
| Q4 25 | 516.44× | — | ||
| Q3 25 | — | — | ||
| Q2 25 | 2.17× | — | ||
| Q1 25 | 0.85× | — | ||
| Q4 24 | 2.47× | — | ||
| Q3 24 | — | — | ||
| Q2 24 | 1.37× | 9.07× | ||
| Q1 24 | 7.11× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
ZD
| Health And Wellness | $114.8M | 28% |
| Technology And Shopping | $108.9M | 27% |
| Cybersecurity And Martech Segment | $70.9M | 17% |
| Connectivity | $60.3M | 15% |
| Gaming And Entertainment | $51.7M | 13% |
| Subscription And Licensing | $2.9M | 1% |
ZS
Segment breakdown not available.
