Zscaler Inc
$28.66B- Market cap
- $27.69B
- Debt
- +$1.90B
- Cash
- −$928.35M
Capital structure 94% equity / 6% debt · EV / Revenue 8.55x · EV / EBITDA 262.32x
Compare price, profitability, solvency, and SEC-reported financials side by side—before deciding which assumptions deserve a closer look.
FY 2025 ·
Decision snapshot: ZS stock price at discount vs CDNS $169.80 current versus $313.38 implied using P/S multiple.
Quick read
Each company valued on the other's multiple, then compared with the market price.
Implied fair value · at CDNS's multiple
Implied fair value · at ZS's multiple
Snapshot Sep 4, 4:00 PM ET
Metric by metric
Where each company leads, and how wide the gap is.
Growth edge
Pricing power
Operating leverage
Multiple discount
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ZS FY 2026 (ended Jul 31, 2026) · CDNS FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Five fiscal years of revenue, earnings, and margins before underwriting a re-rating.
Price framework
Market cap plus debt, less cash.
Capital structure 94% equity / 6% debt · EV / Revenue 8.55x · EV / EBITDA 262.32x
Capital structure 96% equity / 4% debt · EV / Revenue 15.24x · EV / EBITDA 42.43x
CDNS carries the larger enterprise value at $80.70B against $28.66B; ZS trades on the lower EV / Revenue multiple (8.55x vs 15.24x); CDNS on the lower EV / EBITDA (42.43x vs 262.32x).
Price framework
The same filing-backed model used on each company's valuation page, with company-specific inputs and calculated scenarios.
Zscaler Inc · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
CADENCE DESIGN SYSTEMS, INC. · implied price per share
Debt and bridge-cash inputs are required to translate enterprise value into equity value.
Balance sheet health
Financial health checks to separate durable balance sheets from potential value traps.
Financial strength on a 0–9 scale.
Bankruptcy-risk signal from balance sheet and earnings power.
Debt / equity
Total debt against shareholders' equity
0.73x
0.57x
Net debt / EBITDA
Leverage against operating earnings
8.93x
-0.02x
Cash and equivalents
Liquid reserves on the balance sheet
$928.35M
$3.16B
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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