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SAP vs. ZS: SAP vs. Zscaler Stock Comparison

How do SAP (SAP) 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

SAP (SAP) and Zscaler (ZS) both belong to the Software industry, though SAP is classified under Application Software while ZS falls under Systems Software.

Zscaler (ZS) trades as ordinary local shares, while SAP (SAP) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for SAP (SAP) and Zscaler (ZS)
Profile ItemSAPZS
NameSAP SE Sponsored ADRZscaler Inc.
Country/RegionGermanyUnited States
GICS SectorInformation TechnologyInformation Technology
GICS Industry GroupSoftware & ServicesSoftware & Services
GICS IndustrySoftwareSoftware
GICS Sub-IndustryApplication SoftwareSystems Software
Market Capitalization269.45 billion USD32.23 billion USD
CurrencyUSDUSD
ExchangeNYSENasdaq
Listing DateSeptember 18, 1995March 16, 2018
Security TypeADRCommon Stock

Price Performance

Cumulative Growth

SAP
ZS
GSPC
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SAP (SAP) vs. Zscaler (ZS), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for SAP (SAP) and Zscaler (ZS). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for SAP (SAP) and Zscaler (ZS). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Total Return (1Y)-3.87%-37.61%
Total Return (3Y, Annualized)20.21%5.36%
Total Return (5Y, Annualized)11.79%-10.75%

Risk Profile

Drawdown History

SAP
ZS
GSPC
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SAP (SAP) vs. Zscaler (ZS), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for SAP (SAP) and Zscaler (ZS). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Volatility (1Y, Annualized)39.05%68.66%
Beta (5Y)1.090.88
Max Drawdown (5Y)-52.26%-76.41%
Avg. Volume (3M)2.27M2.92M

Risk-Adjusted Performance

Risk-Return Positioning

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SAP and ZS are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Sharpe Ratio (1Y)-0.21-0.61
Sortino Ratio (1Y)-0.29-0.79

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 SAP (SAP) reports 18.18%, ranking against industry peers normally.

SAP

Software & Services industry group

18.18%

Max
53.85%
SAP
18.18%
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%
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SAP (SAP) vs. Zscaler (ZS): A comparison of their ROE against the Software & Services industry group benchmark.

Net Margin (TTM)

Zscaler (ZS) reports a negative net margin of -1.89%, usually indicating a net loss over the period. Meanwhile SAP (SAP) reports 20.41%, ranking against industry peers normally.

SAP

Software & Services industry group

20.41%

Max
41.17%
SAP
20.41%
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%
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SAP (SAP) vs. Zscaler (ZS): A comparison of their net margin against the Software & Services industry group benchmark.

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 SAP (SAP) reports 29.50%, ranking against industry peers normally.

SAP

Software & Services industry group

29.50%

Max
46.89%
SAP
29.50%
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%
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SAP (SAP) vs. Zscaler (ZS): A comparison of their operating margin against the Software & Services industry group benchmark.

Profitability Metrics

Profitability metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
ROE (TTM)18.18%-2.87%
ROA (TTM)9.91%-1.03%
Net Margin (TTM)20.41%-1.89%
Operating Margin (TTM)29.50%-1.01%
Gross Margin (TTM)73.58%76.87%

Growth

Revenue Growth

Both SAP (SAP) at 7.68% and Zscaler (ZS) at 25.42% land near their industries' usual revenue growth ranges, so top-line momentum looks broadly in line with peers on both sides.

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SAP (SAP) vs. Zscaler (ZS): A comparison of their Revenue Growth across different time periods.

EPS Growth

Only one side can be read here: SAP (SAP) reports EPS growth of 130.19%, ranked against its industry; Zscaler (ZS) has no EPS growth figure this period.

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SAP (SAP) vs. Zscaler (ZS): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Revenue Growth (YoY)7.68%25.42%
Revenue Growth (3Y CAGR)7.63%27.51%
EPS Growth (YoY)130.19%--
EPS Growth (3Y CAGR)46.25%--

Financial Strength

Current Ratio (MRQ)

Both SAP (SAP) at 1.16 and Zscaler (ZS) at 1.70 carry current ratio within their industries’ typical mid-ranges, suggesting balanced short-term liquidity relative to peers.

SAP

Software & Services industry group

1.16

Max
5.11
Q3
2.77
Median
1.67
SAP
1.16
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
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SAP (SAP) vs. Zscaler (ZS): A comparison of their current ratio against the Software & Services industry group benchmark.

Debt / Equity (MRQ)

Both SAP (SAP) at 0.23 and Zscaler (ZS) at 0.72 fund their balance sheets with roughly industry-typical debt-to-equity mixes.

SAP

Software & Services industry group

0.23

Max
2.52
Q3
1.13
Median
0.40
SAP
0.23
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
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SAP (SAP) vs. Zscaler (ZS): A comparison of their debt-to-equity ratio against the Software & Services industry group benchmark.

Financial Strength Metrics

Financial strength metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Current Ratio (MRQ)1.161.70
Debt / Equity (MRQ)0.230.72
Net Debt / EBITDA-0.03-36.63

Dividends

Dividend Yield (TTM)

Zscaler (ZS) pays no dividend (yield 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile SAP (SAP) reports a yield of 1.03%, ranking against industry peers normally.

SAP

Software & Services industry group

1.03%

SAP
1.03%
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%
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SAP (SAP) vs. Zscaler (ZS): A comparison of their dividend yield against the Software & Services industry group benchmark.

Dividend Payout Ratio (TTM)

Zscaler (ZS) pays no dividend (payout 0.00%) — it may be reinvesting, using buybacks, or simply not returning cash through dividends. Meanwhile SAP (SAP) reports a payout of 36.45%, ranking against industry peers normally.

SAP

Software & Services industry group

36.45%

SAP
36.45%
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%
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SAP (SAP) vs. Zscaler (ZS): A comparison of their payout ratio against the Software & Services industry group benchmark.

Dividend Metrics

Dividend metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
Dividend Yield (TTM)1.03%0.00%
Dividend Payout Ratio (TTM)36.45%0.00%

Valuation

P/E Ratio (TTM)

An earnings multiple is available for just one side: SAP (SAP) trades at 29.07 times trailing earnings, ranked against its peers, while Zscaler (ZS) has no P/E ratio this period.

SAP

Software & Services industry group

29.07

Max
112.94
Q3
60.32
Median
32.91
SAP
29.07
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
--
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SAP (SAP) vs. Zscaler (ZS): ZS does not report P/E ratio, so it has no value marker; SAP is benchmarked against the Software & Services industry group.

P/S Ratio (TTM)

SAP (SAP) at 6.84 is priced about in line with its industry on P/S ratio, while Zscaler (ZS) at 9.61 sits in the pricier quartile — ZS costs more per dollar of sales.

SAP

Software & Services industry group

6.84

Max
17.91
Q3
8.78
SAP
6.84
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
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SAP (SAP) vs. Zscaler (ZS): A comparison of their P/S ratio against the Software & Services industry group benchmark.

P/B Ratio (MRQ)

Both look rich against book: Zscaler (ZS) at 12.40 sits in the upper P/B ratio quartile, and SAP (SAP) at 73.25 prices even higher, above its industry range.

SAP

Software & Services industry group

73.25

SAP
73.25
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
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SAP (SAP) vs. Zscaler (ZS): A comparison of their P/B ratio against the Software & Services industry group benchmark.

Valuation Metrics

Valuation metrics for SAP (SAP) and Zscaler (ZS)
MetricSAPZS
P/E Ratio (TTM)29.07--
P/S Ratio (TTM)6.849.61
P/B Ratio (MRQ)73.2512.40
Free Cash Flow Yield (TTM)3.73%3.34%