APP vs. ZS: AppLovin vs. Zscaler Stock Comparison
How do AppLovin (APP) and Zscaler (ZS) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.
Company Profile
AppLovin (APP) and Zscaler (ZS) both belong to the Software industry, though APP is classified under Application Software while ZS falls under Systems Software.
| Profile Item | APP | ZS |
|---|---|---|
| Name | AppLovin Corporation Class A Common Stock | Zscaler Inc. |
| Country/Region | United States | United States |
| GICS Sector | Information Technology | Information Technology |
| GICS Industry Group | Software & Services | Software & Services |
| GICS Industry | Software | Software |
| GICS Sub-Industry | Application Software | Systems Software |
| Market Capitalization | 129.62 billion USD | 32.23 billion USD |
| Currency | USD | USD |
| Exchange | Nasdaq | Nasdaq |
| Listing Date | April 15, 2021 | March 16, 2018 |
| Security Type | Common Stock | Common Stock |
Price Performance
Cumulative Growth
Trailing Returns
Calendar-Year Returns
Performance Metrics
| Metric | APP | ZS |
|---|---|---|
| Total Return (1Y) | -34.71% | -37.61% |
| Total Return (3Y, Annualized) | 116.87% | 5.36% |
| Total Return (5Y, Annualized) | 31.34% | -10.75% |
Risk Profile
Drawdown History
Return Distribution
Risk Metrics
AppLovin (APP) carries a highly aggressive beta of 2.25, indicating much higher sensitivity to broad-market moves, whereas Zscaler (ZS) is closer to market-like at 0.88 — a noticeable difference in market-sensitivity profile.
| Metric | APP | ZS |
|---|---|---|
| Volatility (1Y, Annualized) | 80.36% | 68.66% |
| Beta (5Y) | 2.25 | 0.88 |
| Max Drawdown (5Y) | -91.90% | -76.41% |
| Avg. Volume (3M) | 5.33M | 2.92M |
Risk-Adjusted Performance
Risk-Return Positioning
Risk-Adjusted Metrics
| Metric | APP | ZS |
|---|---|---|
| Sharpe Ratio (1Y) | -0.49 | -0.61 |
| Sortino Ratio (1Y) | -0.69 | -0.79 |
Profitability
ROE (TTM)
Zscaler (ZS) reports a negative ROE of -2.87%; negative ROE can reflect losses or negative shareholders’ equity, so it is harder to read as capital efficiency. Meanwhile AppLovin (APP) reports 210.09%, ranking against industry peers normally.
APP
Software & Services industry group
210.09%
- APP
- 210.09%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- Q1
- -9.59%
- Min
- -50.52%
ZS
Software & Services industry group
-2.87%
- Max
- 53.85%
- Q3
- 17.90%
- Median
- 6.59%
- ZS
- -2.87%
- Q1
- -9.59%
- Min
- -50.52%
Net Margin (TTM)
Zscaler (ZS) reports a negative net margin of -1.89%, usually indicating a net loss over the period. Meanwhile AppLovin (APP) reports 65.89%, ranking against industry peers normally.
APP
Software & Services industry group
65.89%
- APP
- 65.89%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- Q1
- -5.42%
- Min
- -33.17%
ZS
Software & Services industry group
-1.89%
- Max
- 41.17%
- Q3
- 15.28%
- Median
- 4.63%
- ZS
- -1.89%
- Q1
- -5.42%
- Min
- -33.17%
Operating Margin (TTM)
Zscaler (ZS) reports a negative operating margin of -1.01%, usually indicating that operating costs exceeded revenue at the operating-income line. Meanwhile AppLovin (APP) reports 78.22%, ranking against industry peers normally.
APP
Software & Services industry group
78.22%
- APP
- 78.22%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- Q1
- -2.13%
- Min
- -30.45%
ZS
Software & Services industry group
-1.01%
- Max
- 46.89%
- Q3
- 17.64%
- Median
- 8.73%
- ZS
- -1.01%
- Q1
- -2.13%
- Min
- -30.45%
Profitability Metrics
| Metric | APP | ZS |
|---|---|---|
| ROE (TTM) | 210.09% | -2.87% |
| ROA (TTM) | 49.57% | -1.03% |
| Net Margin (TTM) | 65.89% | -1.89% |
| Operating Margin (TTM) | 78.22% | -1.01% |
| Gross Margin (TTM) | 88.78% | 76.87% |
Growth
Revenue Growth
AppLovin (APP) at 69.99% clears its industry range for revenue growth, far stronger top-line momentum than Zscaler (ZS) at 25.42%, which is closer to a typical peer reading.
EPS Growth
Only one side can be read here: AppLovin (APP) reports EPS growth of 115.23%, ranked against its industry; Zscaler (ZS) has no EPS growth figure this period.
Growth Metrics
| Metric | APP | ZS |
|---|---|---|
| Revenue Growth (YoY) | 69.99% | 25.42% |
| Revenue Growth (3Y CAGR) | 24.84% | 27.51% |
| EPS Growth (YoY) | 115.23% | -- |
| EPS Growth (3Y CAGR) | -- | -- |
Financial Strength
Current Ratio (MRQ)
Zscaler (ZS) at 1.70 keeps current ratio within its industry’s typical mid-range, while AppLovin (APP) at 3.81 sits above its industry’s typical mid-range — comfortable liquidity, though possibly with more idle current assets relative to peers.
APP
Software & Services industry group
3.81
- Max
- 5.11
- APP
- 3.81
- Q3
- 2.77
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
ZS
Software & Services industry group
1.70
- Max
- 5.11
- Q3
- 2.77
- ZS
- 1.70
- Median
- 1.67
- Q1
- 1.01
- Min
- 0.03
Debt / Equity (MRQ)
Both AppLovin (APP) at 1.07 and Zscaler (ZS) at 0.72 fund their balance sheets with roughly industry-typical debt-to-equity mixes.
APP
Software & Services industry group
1.07
- Max
- 2.52
- Q3
- 1.13
- APP
- 1.07
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
ZS
Software & Services industry group
0.72
- Max
- 2.52
- Q3
- 1.13
- ZS
- 0.72
- Median
- 0.40
- Q1
- 0.07
- Min
- 0.00
Financial Strength Metrics
| Metric | APP | ZS |
|---|---|---|
| Current Ratio (MRQ) | 3.81 | 1.70 |
| Debt / Equity (MRQ) | 1.07 | 0.72 |
| Net Debt / EBITDA | 0.06 | -36.63 |
Dividends
Dividend Yield (TTM)
Neither AppLovin (APP) nor Zscaler (ZS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
ZS
Software & Services industry group
0.00%
- ZS
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Payout Ratio (TTM)
Neither AppLovin (APP) nor Zscaler (ZS) pays a dividend this period — they may reinvest, use buybacks, or simply not return cash through dividends.
APP
Software & Services industry group
0.00%
- APP
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
ZS
Software & Services industry group
0.00%
- ZS
- 0.00%
- Max
- 0.00%
- Q3
- 0.00%
- Median
- 0.00%
- Q1
- 0.00%
- Min
- 0.00%
Dividend Metrics
| Metric | APP | ZS |
|---|---|---|
| Dividend Yield (TTM) | 0.00% | 0.00% |
| Dividend Payout Ratio (TTM) | 0.00% | 0.00% |
Valuation
P/E Ratio (TTM)
An earnings multiple is available for just one side: AppLovin (APP) trades at 26.34 times trailing earnings, ranked against its peers, while Zscaler (ZS) has no P/E ratio this period.
APP
Software & Services industry group
26.34
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- APP
- 26.34
- Q1
- 18.77
- Min
- 6.69
ZS
Software & Services industry group
--
- Max
- 112.94
- Q3
- 60.32
- Median
- 32.91
- Q1
- 18.77
- Min
- 6.69
- ZS
- --
P/S Ratio (TTM)
Both AppLovin (APP) at 17.04 and Zscaler (ZS) at 9.61 command a richer price per dollar of sales than most peers, sitting in the upper P/S ratio quartile of their industries.
APP
Software & Services industry group
17.04
- Max
- 17.91
- APP
- 17.04
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
ZS
Software & Services industry group
9.61
- Max
- 17.91
- ZS
- 9.61
- Q3
- 8.78
- Median
- 4.25
- Q1
- 2.23
- Min
- 0.02
P/B Ratio (MRQ)
Both look rich against book: Zscaler (ZS) at 12.40 sits in the upper P/B ratio quartile, and AppLovin (APP) at 39.29 prices even higher, above its industry range.
APP
Software & Services industry group
39.29
- APP
- 39.29
- Max
- 16.63
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
ZS
Software & Services industry group
12.40
- Max
- 16.63
- ZS
- 12.40
- Q3
- 8.50
- Median
- 4.30
- Q1
- 1.92
- Min
- -3.90
Valuation Metrics
| Metric | APP | ZS |
|---|---|---|
| P/E Ratio (TTM) | 26.34 | -- |
| P/S Ratio (TTM) | 17.04 | 9.61 |
| P/B Ratio (MRQ) | 39.29 | 12.40 |
| Free Cash Flow Yield (TTM) | 2.87% | 3.34% |