Amdocs vs Zscaler
Amdocs is the larger business, with $4.53bn of revenue in fiscal 2025 against $3.35bn for Zscaler (1.4 times as much). Zscaler grew faster (25.4% against -9.4%). Amdocs kept more of each dollar of sales as profit: a net margin of 12.5% against -1.9%.
| Latest fiscal year | AmdocsDOX, 2025 | ZscalerZS, 2026 |
|---|---|---|
| Revenue | $4.53bn | $3.35bn |
| Revenue growth | -9.4% | 25.4% |
| Net income | $565m | −$63.2m |
| Operating margin | 16.1% | — |
| Net margin | 12.5% | -1.9% |
| Return on equity | 16.4% | -2.9% |
| Free cash flow | $645m | $852m |
| Cash | $325m | $928m |
| Total debt | $647m | $1.70bn |
| Debt to equity | 18.9% | — |
| Dividend per share | — | — |
| Dividend yield | 3.3% | — |
| Share buybacks | $551m | — |
| Employees | — | 8,700 |
| Market value | $6.74bn | $36.87bn |
| Price vs our value range | Within our value range | Above our value range |
| Moat score | — | 50 (Moderate) |
| Insider trades, 12 months | 0 buys, 1 sales | 0 buys, 74 sales |