Palo Alto Networks, Inc. vs Zscaler
Palo Alto Networks scores 61 — a platform-completing consolidator whose $11.5B scale and $21.2B RPO are real, while GAAP margin and dilution cap the score. ARR $3,771M (+25%) with a metering-based second curve — but the $10B ARR long-term goal is 30% of the G2 bar.
Tied
| Item | Max | Palo Alto Networks, Inc. | Zscaler |
|---|---|---|---|
| Blitz Index total | / 100 | 61 | 61 |
| Grade | — | B | B |
| A · Speed | / 25 | 19 | 18 |
| B · Moat | / 60 | 38 | 37 |
| C · Creative destruction | / 15 | 11 | 11 |
| D · Demerits | / 30 | -7 | -5 |
The success line is 65. Demerits (section D) are subtracted; a demerit total of 15 or more flags a company for BlitzFailing watch. Scores as of the 2026 Q4 review.
Verdict — business structure only
Tied at 61 with near-identical shapes — the tie hides two different businesses. Palo Alto is slightly faster (19 vs 18) on FY2026 growth of +24.5% to $11,480M, though $930M of that is acquired (CyberArk, Chronosphere) and organic growth is ~+14.4%, while Zscaler grew +25.4% to $3.35B. The moats are close (38 vs 37): Palo Alto's is breadth (180+ countries, RPO $21.2B, subscriptions 80.1%) while Zscaler's is depth in the Global 2000 (40%+ as customers, 76.8% gross margin). Creative destruction is tied (11): XSIAM displacing legacy SIEM against the Zero Trust Exchange displacing firewall-and-VPN appliances, and both carry heavy demerits (Palo Alto −7, Zscaler −5) — goodwill and a patent reserve on one side, SBC-driven GAAP losses and a 2028 notes maturity wall on the other. The structural difference is consolidator vs pure-play: Palo Alto buys and integrates the stack while Zscaler builds one product line.
Key figures
| Palo Alto Networks, Inc. | Figure |
|---|---|
| Revenue | $11,480M (FY2026) |
| Growth | FY2026 +24.5% |
| RPO | $21.2B |
| Zscaler | Figure |
|---|---|
| Growth | FY2026 +25.4% ($3.35B) |
| Gross margin | 76.8% |
| Forbes Global 2000 | 40%+ as customers |
Key figures are from the companies' published score files (the scorecard's English summary). A figure is shown only where the score file states it.
Full scorecards: Palo Alto Networks, Inc. — Blitz Index 61 · Zscaler — Blitz Index 61
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How to read this
Both companies passed the same two gates before scoring: real product-market traction (G1), and a ten-year market ceiling of at least ten times current revenue (G2). The Blitz Index then grades speed (25), moat (60) and creative destruction (15), and subtracts BlitzFailing demerits (up to −30) for debt, revenue quality, governance and regulatory cost. The model is frozen at v1.0; past scores are never silently rewritten. Our own pre-registered tests found the score measures business quality — it does not predict stock returns.
Research only — not investment advice. Scores measure blitzscaling strategy from public data. Not a recommendation to buy, sell, or hold any security.