Rubrik, Inc. (RBRK) vs Zscaler, Inc. (ZS)

Rubrik, Inc. and Zscaler, Inc. are both Software Infrastructure companies. Zscaler, Inc. is the larger, with a market value of $33.4B against $25.5B — 1.3× the size. Rubrik, Inc. grew revenue faster over the last twelve months: 42.5% against 25.4%. Zscaler, Inc. has the higher net margin (−1.88% vs −16.5%) and the lower return on invested capital (−10.2% vs 0.00%). Across the 17 metrics below, Zscaler, Inc. leads on 11 and Rubrik, Inc. on 6.

Valuation

Metric RBRK ZS Software Infrastructure median
P/E n/m n/m 28.52
P/S 16.81 10.14 3.13
P/B n/m 13.09 3.18
Price to free cash flow 90.58 43.73 17.17
EV/EBITDA n/m 123.34 15.10
EV/Sales 16.41 9.96 3.19
Earnings yield (1.00%) (0.18%) 0.10%
Free cash flow yield 1.10% 2.29% 1.10%

Profitability

Metric RBRK ZS Software Infrastructure median
Gross margin 80.21% 76.80% 61.00%
Operating margin (18.31%) (3.98%) 0.00%
Net margin (16.50%) (1.88%) 0.00%
Free cash flow margin 18.56% 23.24% 1.67%
Return on equity 47.83% (2.87%) 0.60%
Return on assets (9.72%) (0.88%) 0.00%
Return on invested capital 0.00% (10.15%) 0.00%

Growth

Metric RBRK ZS Software Infrastructure median
Revenue growth (TTM) 42.45% 25.42% 13.41%
EPS growth (last fiscal year) 76.20% (44.44%) 27.10%
Revenue growth, 5-year CAGR — 37.87% 15.57%
Net income growth, 5-year CAGR — 0.00% 0.00%

Health

Metric RBRK ZS Software Infrastructure median
Debt to equity (2.27) 0.65 0.05
Current ratio 1.64 1.70 1.55
Net debt to EBITDA 2.75 (6.57) 0.08

Dividend

Metric RBRK ZS Software Infrastructure median
Dividend yield — — 1.22%
Payout ratio — — 0.29

Size

Metric RBRK ZS Software Infrastructure median
Market cap 25.50b 33.35b 845.81m

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