NOK vs. ZS: A Head-to-Head Stock Comparison

Updated on October 4, 2025

Here’s a clear look at NOK and ZS, comparing key factors like historical performance, profitability, financial strength, growth, dividend, and valuation.

Company Profile

NOK trades as an American Depositary Receipt (ADR), offering U.S. investors a convenient way to access its foreign-listed shares. In contrast, ZS is a standard domestic listing.

Symbol	NOK	ZS
Company Name	Nokia Oyj	Zscaler, Inc.
Country	Finland	United States
GICS Sector	Information Technology	Information Technology
GICS Industry	Communications Equipment	Software
Market Capitalization	25.93 billion USD	48.21 billion USD
Exchange	NYSE	NasdaqGS
Listing Date	July 1, 1994	March 16, 2018
Security Type	ADR	Common Stock

Historical Performance

This chart compares the performance of NOK and ZS by tracking the growth of an initial $10,000 investment in each. Use the tabs to select the desired time period. Data is adjusted for dividends and splits.

NOK vs. ZS: Growth of a $10,000 investment over the past one year.

Historical Performance at a Glance

Symbol	NOK	ZS
5-Day Price Return	1.54%	5.36%
13-Week Price Return	-7.42%	-4.55%
26-Week Price Return	-17.75%	41.65%
52-Week Price Return	-30.85%	74.45%
Month-to-Date Return	10.87%	8.16%
Year-to-Date Return	-4.57%	66.10%
10-Day Avg. Volume	25.62M	1.43M
3-Month Avg. Volume	11.09M	2.06M
3-Month Volatility	30.86%	28.49%
Beta	0.72	1.06

Profitability

Return on Equity (TTM)

NOK

5.01%

Communications Equipment Industry

Max: 32.30%
Q3: 20.90%
Median: 9.10%
Q1: 4.29%
Min: -13.50%

NOK’s Return on Equity of 5.01% is on par with the norm for the Communications Equipment industry, indicating its profitability relative to shareholder equity is typical for the sector.

ZS

-2.50%

Software Industry

Max: 66.28%
Q3: 21.28%
Median: 9.33%
Q1: -8.77%
Min: -48.16%

ZS has a negative Return on Equity of -2.50%. This indicates the company is generating a loss for its shareholders, which can be a result of unprofitability or negative shareholder equity and is often a sign of financial distress.

NOK vs. ZS: A comparison of their Return on Equity (TTM) against their respective Communications Equipment and Software industry benchmarks.

Net Profit Margin (TTM)

NOK

5.31%

Communications Equipment Industry

Max: 23.65%
Q3: 12.56%
Median: 5.62%
Q1: 2.50%
Min: -3.09%

NOK’s Net Profit Margin of 5.31% is aligned with the median group of its peers in the Communications Equipment industry. This indicates its ability to convert revenue into profit is typical for the sector.

ZS

-1.55%

Software Industry

Max: 51.92%
Q3: 19.23%
Median: 6.98%
Q1: -7.14%
Min: -41.00%

ZS has a negative Net Profit Margin of -1.55%, indicating the company is operating at a net loss as its expenses exceeded its revenues.

NOK vs. ZS: A comparison of their Net Profit Margin (TTM) against their respective Communications Equipment and Software industry benchmarks.

Operating Profit Margin (TTM)

NOK

6.21%

Communications Equipment Industry

Max: 25.23%
Q3: 13.72%
Median: 6.44%
Q1: 3.00%
Min: -10.95%

NOK’s Operating Profit Margin of 6.21% is around the midpoint for the Communications Equipment industry, indicating that its efficiency in managing core business operations is typical for the sector.

ZS

-4.81%

Software Industry

Max: 60.40%
Q3: 21.25%
Median: 9.90%
Q1: -4.97%
Min: -43.50%

ZS has a negative Operating Profit Margin of -4.81%. This signifies the company is unprofitable at the operational level, as its core business expenses exceed its revenue.

NOK vs. ZS: A comparison of their Operating Profit Margin (TTM) against their respective Communications Equipment and Software industry benchmarks.

Profitability at a Glance

Symbol	NOK	ZS
Return on Equity (TTM)	5.01%	-2.50%
Return on Assets (TTM)	2.68%	-0.77%
Net Profit Margin (TTM)	5.31%	-1.55%
Operating Profit Margin (TTM)	6.21%	-4.81%
Gross Profit Margin (TTM)	44.23%	76.87%

Financial Strength

Current Ratio (MRQ)

NOK

1.46

Communications Equipment Industry

Max: 3.33
Q3: 2.13
Median: 1.55
Q1: 1.15
Min: 0.91

NOK’s Current Ratio of 1.46 aligns with the median group of the Communications Equipment industry, indicating that its short-term liquidity is in line with its sector peers.

ZS

2.01

Software Industry

Max: 4.29
Q3: 2.37
Median: 1.40
Q1: 1.03
Min: 0.25

ZS’s Current Ratio of 2.01 aligns with the median group of the Software industry, indicating that its short-term liquidity is in line with its sector peers.

NOK vs. ZS: A comparison of their Current Ratio (MRQ) against their respective Communications Equipment and Software industry benchmarks.

Debt-to-Equity Ratio (MRQ)

NOK

0.21

Communications Equipment Industry

Max: 1.44
Q3: 0.86
Median: 0.53
Q1: 0.22
Min: 0.00

Falling into the lower quartile for the Communications Equipment industry, NOK’s Debt-to-Equity Ratio of 0.21 points to a conservative financing strategy. This results in lower financial risk but potentially limits strategic investments compared to more leveraged competitors.

ZS

0.95

Software Industry

Max: 2.16
Q3: 0.86
Median: 0.31
Q1: 0.00
Min: 0.00

ZS’s leverage is in the upper quartile of the Software industry, with a Debt-to-Equity Ratio of 0.95. While this approach can boost equity growth, it also exposes the company to greater financial vulnerability.

NOK vs. ZS: A comparison of their Debt-to-Equity Ratio (MRQ) against their respective Communications Equipment and Software industry benchmarks.

Interest Coverage Ratio (TTM)

NOK

34.19

Communications Equipment Industry

Max: 55.49
Q3: 34.19
Median: 7.59
Q1: 3.73
Min: -9.94

NOK’s Interest Coverage Ratio of 34.19 is positioned comfortably within the norm for the Communications Equipment industry, indicating a standard and healthy capacity to cover its interest payments.

ZS

-6.38

Software Industry

Max: 89.65
Q3: 32.64
Median: 1.00
Q1: -9.84
Min: -71.23

ZS has a negative Interest Coverage Ratio of -6.38. This indicates that its earnings were insufficient to cover even its operational costs, let alone its interest payments, signaling significant financial distress.

NOK vs. ZS: A comparison of their Interest Coverage Ratio (TTM) against their respective Communications Equipment and Software industry benchmarks.

Financial Strength at a Glance

Symbol	NOK	ZS
Current Ratio (MRQ)	1.46	2.01
Quick Ratio (MRQ)	1.21	1.96
Debt-to-Equity Ratio (MRQ)	0.21	0.95
Interest Coverage Ratio (TTM)	34.19	-6.38

Growth

Revenue Growth

NOK vs. ZS: A side-by-side comparison of their Revenue Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

EPS Growth

NOK vs. ZS: A side-by-side comparison of their EPS Growth for the MRQ (YoY), TTM (YoY), 3-Year CAGR, and 5-Year CAGR periods.

Dividend

Dividend Yield (TTM)

NOK

3.22%

Communications Equipment Industry

Max: 8.13%
Q3: 3.29%
Median: 0.94%
Q1: 0.00%
Min: 0.00%

NOK’s Dividend Yield of 3.22% is consistent with its peers in the Communications Equipment industry, providing a dividend return that is standard for its sector.

ZS

0.00%

Software Industry

Max: 0.22%
Q3: 0.11%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZS currently does not pay a dividend, resulting in a yield of 0%. This is a common strategy for growth-focused companies that prioritize reinvesting earnings, though it may be less typical in mature, income-oriented sectors.

NOK vs. ZS: A comparison of their Dividend Yield (TTM) against their respective Communications Equipment and Software industry benchmarks.

Dividend Payout Ratio (TTM)

NOK

50.74%

Communications Equipment Industry

Max: 111.16%
Q3: 70.91%
Median: 30.78%
Q1: 0.00%
Min: 0.00%

NOK’s Dividend Payout Ratio of 50.74% is within the typical range for the Communications Equipment industry, suggesting a balanced approach between shareholder payouts and company reinvestment.

ZS

0.00%

Software Industry

Max: 3.29%
Q3: 2.41%
Median: 0.00%
Q1: 0.00%
Min: 0.00%

ZS has a Dividend Payout Ratio of 0%, indicating it does not currently pay a dividend. This is a common strategy for growth-oriented companies that reinvest all profits back into the business.

NOK vs. ZS: A comparison of their Dividend Payout Ratio (TTM) against their respective Communications Equipment and Software industry benchmarks.

Dividend at a Glance

Symbol	NOK	ZS
Dividend Yield (TTM)	3.22%	0.00%
Dividend Payout Ratio (TTM)	50.74%	0.00%

Valuation

Price-to-Earnings Ratio (TTM)

NOK

21.54

Communications Equipment Industry

Max: 103.74
Q3: 61.65
Median: 26.20
Q1: 18.12
Min: 4.19

NOK’s P/E Ratio of 21.54 is within the middle range for the Communications Equipment industry. This suggests its valuation is in line with the sector average, representing neither a significant premium nor a discount compared to its peers.

ZS

Software Industry

Max: 145.74
Q3: 94.88
Median: 45.35
Q1: 26.66
Min: 8.80

P/E Ratio data for ZS is currently unavailable.

NOK vs. ZS: A comparison of their Price-to-Earnings Ratio (TTM) against their respective Communications Equipment and Software industry benchmarks.

Price-to-Sales Ratio (TTM)

NOK

1.14

Communications Equipment Industry

Max: 6.86
Q3: 6.24
Median: 2.44
Q1: 1.02
Min: 0.48

NOK’s P/S Ratio of 1.14 aligns with the market consensus for the Communications Equipment industry. This suggests its valuation, based on sales, is seen as standard and is on par with its competitors.

ZS

16.92

Software Industry

Max: 25.67
Q3: 13.68
Median: 8.28
Q1: 4.95
Min: 0.90

ZS’s P/S Ratio of 16.92 is in the upper echelon for the Software industry. This means the company is valued richly on its revenue stream compared to its peers, suggesting the stock is priced for a high level of future performance.

NOK vs. ZS: A comparison of their Price-to-Sales Ratio (TTM) against their respective Communications Equipment and Software industry benchmarks.

Price-to-Book Ratio (MRQ)

NOK

1.21

Communications Equipment Industry

Max: 6.28
Q3: 5.73
Median: 3.32
Q1: 2.02
Min: 0.42

NOK’s P/B Ratio of 1.21 is in the lower quartile for the Communications Equipment industry. From a value investing perspective, this is favorable, as it suggests the stock is trading at a discount to its net asset value and may offer a greater margin of safety.

ZS

24.71

Software Industry

Max: 30.67
Q3: 14.92
Median: 8.52
Q1: 3.89
Min: 0.38

ZS’s P/B Ratio of 24.71 is in the upper tier for the Software industry. This indicates that investors are paying a premium relative to the company’s net assets, a valuation that hinges on its ability to generate superior profits.

NOK vs. ZS: A comparison of their Price-to-Book Ratio (MRQ) against their respective Communications Equipment and Software industry benchmarks.

Valuation at a Glance

Symbol	NOK	ZS
Price-to-Earnings Ratio (TTM)	21.54	--
Price-to-Sales Ratio (TTM)	1.14	16.92
Price-to-Book Ratio (MRQ)	1.21	24.71
Price-to-Free Cash Flow Ratio (TTM)	14.85	62.23