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 · Mkt cap
Decision snapshot: ZS stock price at premium vs THRM $169.80 current versus $17.15 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 THRM'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 premium
Not comparable
Lower leverage
Statements
Core statements aligned to each company's latest fiscal year.
SEC periods: ZS FY 2026 (ended Jul 31, 2026) · THRM FY 2025 (ended Dec 31, 2025). Fiscal years are not aligned.
Trendline
Six 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 87% equity / 13% debt · EV / Revenue 0.85x · EV / EBITDA 13.56x
ZS carries the larger enterprise value at $28.66B against $1.28B; THRM trades on the lower EV / Revenue multiple (0.85x vs 8.55x); THRM on the lower EV / EBITDA (13.56x 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.
Gentherm Inc · implied price per share
Bear
$17.25
Base
$20.46
Bull
$24.63
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
0.26x
Net debt / EBITDA
Leverage against operating earnings
8.93x
0.30x
Cash and equivalents
Liquid reserves on the balance sheet
$928.35M
$160.83M
Total debt
Interest-bearing obligations outstanding
Comparable set
Where the pair sits against the wider comparable set.
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$1.90B
$189.07M
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