EPAM vs ZS
Epam Systems, Inc. and Zscaler, Inc., side by side — 10 fiscal years reported in USD, drawn from SEC filings.
Most recent reported year
| Metric | EPAM | ZS |
|---|---|---|
| Revenue | $5.5B | $2.7B |
| Net income | $377.7M | $-41.5M |
| Gross margin | 28.8% | 76.9% |
| Net margin | 6.9% | −1.6% |
| Return on equity | 10.3% | −2.7% |
| Diluted EPS | $6.72 | −$0.27 |
| Dividend / share | · | · |
| Payout ratio | · | · |
| Free cash flow | $612.7M | $808.2M |
| Equity | $3.7B | $1.8B |
| Net debt / equity | −0.35× | · |
| Current ratio | 2.59× | 2.01× |
| Revenue CAGR 5y | 15.5% | 44.0% |
| Profit CAGR 5y | 2.9% | · |
EPAM bills 2.0× the revenue of ZS, and ZS closed the last reported year at a loss.
The stronger figure of the pair is set in bold. That is arithmetic, not a recommendation — this page does not pick a winner. "·" marks a figure not available in our data.
10 years side by side
| Fiscal year | EPAM | ZS |
|---|---|---|
| FY2025 | $5.5B | $2.7B |
| FY2024 | $4.7B | $2.2B |
| FY2023 | $4.7B | $1.6B |
| FY2022 | $4.8B | $1.1B |
| FY2021 | $3.8B | $673.1M |
| FY2020 | $2.7B | $431.3M |
| FY2019 | $2.3B | $302.8M |
| FY2018 | $1.8B | $190.2M |
| FY2017 | $1.5B | $125.7M |
| FY2016 | $1.2B | $80.3M |
Bottom line
| Fiscal year | EPAM | ZS |
|---|---|---|
| FY2025 | $377.7M | $-41.5M |
| FY2024 | $454.5M | $-57.7M |
| FY2023 | $417.1M | $-202.3M |
| FY2022 | $419.4M | $-390.3M |
| FY2021 | $481.7M | $-262.0M |
| FY2020 | $327.2M | $-115.1M |
| FY2019 | $261.1M | $-28.7M |
| FY2018 | $240.3M | $-33.6M |
| FY2017 | $72.8M | $-35.5M |
| FY2016 | $99.3M | $-27.4M |
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +$2,783,941,000 | EPAM |
| FY2024 | +$2,560,169,000 | EPAM |
| FY2023 | +$3,073,588,000 | EPAM |
| FY2022 | +$3,733,752,000 | EPAM |
| FY2021 | +$3,085,044,000 | EPAM |
| FY2020 | +$2,228,209,000 | EPAM |
| FY2019 | +$1,990,962,000 | EPAM |
| FY2018 | +$1,652,738,000 | EPAM |
| FY2017 | +$1,324,731,000 | EPAM |
| FY2016 | +$1,079,807,000 | EPAM |
EPAM has reported the higher revenue in every one of these 10 fiscal years. The gap has widened since the earliest year compared.
10 of 16 comparable fiscal years — a year missing data on either side is not counted.
10 fiscal years
| Fiscal year | Difference | Ahead |
|---|---|---|
| FY2025 | +8.5 pp | EPAM |
| FY2024 | +12.3 pp | EPAM |
| FY2023 | +21.4 pp | EPAM |
| FY2022 | +44.5 pp | EPAM |
| FY2021 | +51.7 pp | EPAM |
| FY2020 | +39.0 pp | EPAM |
| FY2019 | +20.8 pp | EPAM |
| FY2018 | +30.7 pp | EPAM |
| FY2017 | +33.2 pp | EPAM |
| FY2016 | +42.7 pp | EPAM |
EPAM has kept the higher net margin in every one of these 10 fiscal years.
10 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ZS's net margin has been more volatile than EPAM's over the 10 comparable fiscal years — 13.1 percentage points of standard deviation against 2.5.
10 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
EPAM led in net margin in every one of the 10 comparable fiscal years — a structural lead, not a recent swing.
10 of 16 comparable fiscal years — a year missing data on either side is not counted.
Standard deviation, each side
ZS's return on equity has been more volatile than EPAM's over the 7 comparable fiscal years — 23.4 percentage points of standard deviation against 3.6.
7 of 16 comparable fiscal years — a year missing data on either side is not counted.
Year by year
EPAM led in return on equity in every one of the 7 comparable fiscal years — a structural lead, not a recent swing.
7 of 16 comparable fiscal years — a year missing data on either side is not counted.