Nutanix vs Zscaler
Zscaler reported revenue of $3.4 billion in fiscal 2026, 1.2 times Nutanix's $2.9 billion in fiscal 2026. Nutanix's revenue grew 12.4% in its latest year, and Zscaler's grew 25.4%. Nutanix had an operating margin of 9.6%, against -4.0% at Zscaler. Free cash flow was $841 million at Nutanix and $852 million at Zscaler.
Side by side
| Nutanix | Zscaler | |
|---|---|---|
| Latest fiscal year | FY2026, Jul 31, 2026 | FY2026, Jul 31, 2026 |
| Revenue | $2.9B | $3.4B |
| Revenue growth | 12.4% | 25.4% |
| Revenue growth a year, last 5 years | 15.4% | 37.9% |
| Gross margin | 86.8% | 76.8% |
| Operating margin | 9.6% | −4.0% |
| Net margin | 52.8% | −1.9% |
| Free cash flow | $841M | $852M |
| Free cash flow margin | 29.5% | 25.4% |
| Return on capital | — | — |
| Net debt to EBITDA | −2.9x | −116.4x |
| Dividends and buybacks | $484M | $0M |
| Change in diluted share count | — | 3.8% |
| Last close | $72.71 | $260.45 |
| P/E at the last close | 14.1× | — |
| Insider trades, last 12 months | sold $10.1 million | sold $22.4 million |
| Piotroski F-score | — | 3 of 9 |
Amounts in each company's own currency, US$ unless marked (a foreign company may report in another), each company's latest fiscal year from its 10-K, or 20-F or 40-F for a foreign company. Growth rates compare with the year before; the five-year rate is the average a year. Free cash flow is cash from operations minus capital spending; return on capital is after-tax operating income over the money invested in the business; P/E is the last close over the latest earnings per share. Banks are measured differently (return on equity, efficiency ratio), so some rows apply to one company only.
Ten years
Revenue
US$ billions, fiscal years
NutanixZscaler
Operating margin
Percent of revenue
NutanixZscaler
Free cash flow
US$ billions. Cash from operations minus capital expenditure.
NutanixZscaler