Head-to-head · Stock vs Stock
Zscaler vs Fortinet
vs
ZS vs FTNT: the verdict
How ZS and FTNT compare today, and what CleaRank Financial AI makes of it.
The verdict
CleaRank Financial AI favours
FTNT
ZS
FTNT
48/100
AI score
51/100
-40.7%
1-year change
+50.2%
67.1%
Volatility (30d, yearly)
92.9%
36.7
RSI (14-day)
28.0
n/m
P/E ratio
40.4x
No dividend
Dividend yield
No dividend
The verdict
Fortinet, Inc. (FTNT) leads on CleaRank's model, with a score of 51/100 (Hold) to 48/100 (Hold) for Zscaler Inc. (ZS). Profitability accounts for the widest gap. FTNT's net margin stands at 28.96%, its return on equity of 153.08% sits above the sector median, and its debt-to-equity is 0.25. ZS posts a net margin of -1.89% and a return on equity of -2.87%, which is below the sector median.
Outlook
ZS sits between its 50-day average at $208.44 and its 200-day at $166.85. FTNT would need to regain its 50-day average at $166.24 and its 200-day at $130.01 to turn its downtrend.
Price, side by side
Both prices start at 0% on the first day of the period you pick, so the moves compare directly.
Rebased price
-40%-30%-20%-10%0%+10%-17%-37%
Nov '26
-20%0%+20%+40%+9.2%-24%
Sep '26Oct '26Nov '26
-20%0%+20%+40%+60%+80%+33%+8.5%
Jun '26Jul '26Aug '26Sep '26Oct '26Nov '26
-50%0%+50%+100%+150%+50%-41%
Dec '25Feb '26Apr '26Jul '26Sep '26Nov '26
-50%0%+50%+100%+150%+60%+0.9%
Oct '24Mar '25Aug '25Jan '26Jun '26Nov '26
Over 1 year: ZS lost 40.7% and FTNT gained 50.2%, a gap of 90.9 points in FTNT's favour.
Valuation and profitability
What each costs relative to its earnings and sales, and how much of its revenue it keeps.
Side by side
Valuation
Lower multiples mean you pay less for each dollar of earnings or sales.
ZS
FTNT
$32.5B
Market cap
$90.8B
n/m
P/E ratio
40.4x
9.7x
Price / sales
11.5x
12.5x
Price / book
40.4x
703x
EV / EBITDA
31.4x
Profitability
How much of each dollar of revenue becomes profit, and how hard the capital works.
ZS
FTNT
+25.4%
Revenue growth (quarter, y/y)
+20.5%
-1.9%
Net margin
29.0%
-2.9%
Return on equity
153.1%
-1.0%
Return on assets
15.2%
0.72
Debt / equity
0.25
On valuation
FTNT's P/E is broadly in line with peers, against a Technology median of 35.1. On sales, FTNT is valued higher, at 11.52 times against 9.68. FTNT is the larger company, worth $90.8B against $32.5B.
On profitability
FTNT keeps more of its sales as profit, with a net margin of 28.96% against -1.89%. FTNT also earns the higher return on equity, 153.08% against -2.87%. In the latest quarter, year on year, revenue grew 25.43% at ZS and grew 20.50% at FTNT. No dividend is reported in our data for ZS. No dividend is reported in our data for FTNT.
Earnings reality check
ZS
No reliable earnings figures in our data.
FTNT
FTNT beat the estimate in 8 of its last 8 reports (latest Oct '26); the shares fell in the first session after 4 of those beats.
Surprise
Next session
May '25Nov '25May '26Oct '26
Momentum and sentiment
The indicators behind each AI score, side by side.
Indicators side by side
ZS
FTNT
48/100
AI score
51/100
36.7
RSI (14-day)
28.0
-6.5%
Price against 50-day average
-25.7%
+16.8%
Price against 200-day average
-5.0%
Technicals
ZS is in a mixed trend, trading 6.49% below its 50-day average and 16.82% above its 200-day average. Its 14-day RSI is 36.7, in the bearish zone, with the MACD line negative. FTNT is in a downtrend, trading 25.67% below its 50-day average and 4.96% below its 200-day average. Its 14-day RSI is 28.0, in the oversold zone, with the MACD line negative. FTNT sits higher in its 52-week range, at 40% against 37% for ZS.
Sentiment
Of the 47 analysts covering ZS, 36 rate it a buy, 11 rate it a hold and 0 rate it a sell. Their median target is $247.00, which is 26.7% above the price. For FTNT, 43 analysts cover the stock: 8 rate it a buy, 30 a hold and 5 a sell, with a median target of $140.00, 13.3% above the price.
Risk and practical tips
How much each moves, how much return each has paid for that risk, and what to watch if you hold either.
Risk measures
ZS
FTNT
67.1%
Volatility (30d, yearly)
92.9%
0.84
Beta against the S&P 500
1.04
0.22
Sharpe ratio
0.61
Risk
In a typical day FTNT moves more than ZS, 4.66% against 3.96%. Measured against the S&P 500, ZS carries a beta of 0.84 and FTNT a beta of 1.04. In the price history, ZS's worst fall was 75.4%, running from November 2021 to May 2023. FTNT's worst fall was 39.0%, from October 2026 to November 2026. So the measures point in different directions: ZS has suffered the deeper worst fall, while FTNT has the higher daily move and beta.
ProTips
- For ZS, watch the 50-day SMA at $208.44 above the price and the 200-day SMA at $166.85 below it.
- For FTNT, watch the 200-day SMA at $130.01 above the price and the 52-week low at $73.55 below it.
ZS vs FTNT: long-term scenarios
Simulated paths from each price history. A range of outcomes, not a forecast.
Simulated growth of $10,000
$0$50K$100K$138K$111K$24K$22.5K
20262028203020322034
ZS
FTNT
$3,678
Downside, 2034 (10th)
$5,213
$22,528
Base case, 2034 (median)
$24,004
$137,992
Upside, 2034 (90th)
$110,543
In the median simulated path, $10,000 in ZS grows to about $22,500 and $10,000 in FTNT grows to about $24,000 by 2034. The paths come from each asset's own volatility and capped historical trend; they are statistical outcomes, not forecasts. ZS and FTNT's upside columns reach an extreme multiple of the starting amount; treat them as a statistical tail, not a likely outcome.
ZS vs FTNT: questions people ask
Answered from the figures on this page.
Frequently Asked Questions
Which is better, ZS or FTNT?+
On CleaRank's model FTNT scores higher, 51/100 (Hold) against 48/100 (Hold) for ZS. This describes the data on this page and is not a personal recommendation.
Which has performed better over the past year, ZS or FTNT?+
Over the past year FTNT has performed better. Its price climbed 50.18%, while ZS's price fell 40.74%.
Which is riskier, ZS or FTNT?+
Most of the measures we track point to FTNT as the riskier of the two. Average daily move: 3.96% for ZS, 4.66% for FTNT. Beta against the S&P 500: 0.84 for ZS, 1.04 for FTNT. Worst fall in the price history: 75.4% for ZS, 39.0% for FTNT.
Which has stronger momentum right now, ZS or FTNT?+
ZS has the higher 14-day RSI, 36.7 (bearish) against 28.0 (oversold) for FTNT. Both MACD lines are negative. Readings above 70 or below 30 mark stretched momentum.
Which is the bigger company, ZS or FTNT?+
With a market value of $90.8B, FTNT is the larger company. ZS is valued at $32.5B.
What do analysts say about ZS and FTNT?+
Of ZS's 47 rated analysts, 36 rate it a buy, and the median target sits 26.7% above the price. For FTNT, 8 of 43 analysts rate it a buy, and its median target is 13.3% above the price.
How would $10,000 have grown in ZS or FTNT?+
Invested in April 2018, $10,000 in ZS would be worth $73,555 today; started in December 2016, the same amount in FTNT would be worth $212,685. The two start on different dates, so the end values are not a like-for-like comparison.
Which is closer to its 52-week high, ZS or FTNT?+
FTNT is nearer its 52-week high: it trades 37.32% below the $197.13 peak, while ZS trades 41.62% below its $333.90 high.
Are ZS and FTNT in an uptrend?+
ZS is in a mixed trend, trading 6.49% below its 50-day average and 16.82% above its 200-day. FTNT is in a downtrend, trading 25.67% below its 50-day average and 4.96% below its 200-day.