Cloudflare vs Zscaler (NET vs ZS)
Cloudflare (NET) vs Zscaler (ZS) in plain English: P/E, growth, margins, debt and dividend side by side, key differences and which fits each investor profile.
Cloudflare (NET) and Zscaler (ZS) compete in software and cloud. Here are Cloudflare and Zscaler side by side with their real figures as of November 4, 2026: what sets them apart, which fits each kind of investor and the most common questions, without telling you whether to buy Cloudflare or Zscaler.
Cloudflare vs Zscaler: the figures
| Figure | Cloudflare | Zscaler |
|---|---|---|
| Share price | $266.58 (November 4, 2026) | $224.44 (November 4, 2026) |
| Market cap | $94.9 billion | $36.6 billion |
| P/E (TTM) | N/A | N/A |
| Forward P/E | 157.5x | 39.9x |
| Revenue growth (quarter) | +35.9% | +24.9% |
| Net margin (TTM) | -8.2% | -1.9% |
| Net debt / EBITDA | N/A | Net cash |
| Dividend yield | 0.00% | 0.00% |
| Beta | 1.37 | 0.84 |
Cloudflare and Zscaler figures from Yahoo Finance, the same source the Fintols analysis uses, retrieved on November 4, 2026; N/A means that Cloudflare or Zscaler figure is not available, and we never estimate it.
3 key differences between Cloudflare and Zscaler
- Growth: Cloudflare grew sales +35.9% year on year in its latest quarter, against +24.9% for Zscaler.
- Volatility: Cloudflare stock moves more (beta 1.37) than Zscaler (beta 0.84); the higher the beta, the more it amplifies market swings.
- Profitability: for every 100 of sales, Zscaler keeps -1.9 as net profit and Cloudflare keeps -8.2.
Cloudflare or Zscaler: which fits your profile
- If you want growth: Cloudflare is growing faster today, so it fits better with investors who put business growth first, usually accepting a higher P/E and a bumpier ride.
- If you prefer caution: Zscaler has a less volatile share price, which usually gives more room in a bad year.
Neither Cloudflare nor Zscaler wins on everything, and owning both is also an option: spreading money across several companies or an index fund reduces what rides on each one.
How Cloudflare and Zscaler make money
Cloudflare (NET)
Cloudflare runs a global network that speeds up and protects websites, apps and corporate networks. It charges subscriptions for services like attack protection, content delivery, Zero Trust security for employees and its Workers developer platform. It serves customers of every size, though large customers generate most revenue. The United States is its main market. Full Cloudflare analysis.
Zscaler (ZS)
Zscaler sells cloud-based cybersecurity on a subscription basis. Its Zero Trust Exchange platform sits between employees and the apps or internet they use and checks every connection, with products like Zscaler Internet Access and Zscaler Private Access. Its customers are large enterprises and government agencies, and the US is its biggest market. Full Zscaler analysis.
Frequently asked questions: Cloudflare vs Zscaler
Is Cloudflare or Zscaler the better stock?
Choosing between Cloudflare and Zscaler depends on what you are looking for. Cloudflare is growing faster right now. Fintols does not tell you whether to buy Cloudflare or Zscaler: it shows you the differences so you can decide.
Which pays a higher dividend, Cloudflare or Zscaler?
Neither pays a dividend as of November 4, 2026: Cloudflare and Zscaler put what they earn into growth or other forms of shareholder return.
Can I own both Cloudflare and Zscaler?
Yes. Many people spread their money across several companies, such as Cloudflare and Zscaler, or use index funds so they do not depend on just one. If you are starting out, decide how much you want to invest and for how long before buying Cloudflare or Zscaler.
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