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Infosys vs Zscaler: revenue, profit, margins and growth compared

Infosys brought in $19.3B of revenue in fiscal 2025, Zscaler $3.4B in fiscal 2026. Revenue changed by +3.9% at Infosys and +25.4% at Zscaler on the year before, so Zscaler grew faster. Infosys kept 16.4% of its revenue as net profit, Zscaler -1.9%.

Side by side, latest fiscal year

INFYZS
Fiscal year endedFY2025 (March 31, 2025)FY2026 (July 31, 2026)
Revenue$19.3B$3.4B
Revenue growth+3.9%+25.4%
Net income$3.2B-$63.2M
Net margin16.4%-1.9%
Free cash flown/a$852.4M
Free cash flow marginn/a25.4%
Earnings per share (diluted)$0.76-$0.39
Cash$2.9B$928.4M
Debtn/an/a
Price to earningsn/an/a
Market value$42.6B$31.2B
Dividend yieldn/an/a
Rank by revenue in sector#38 of 530 · Technology#113 of 530 · Technology

Over the years

Revenue
INFY FY2018: $10.9BINFY FY2019: $11.8BINFY FY2020: $12.8BINFY FY2021: $13.6BINFY FY2022: $16.3BINFY FY2023: $18.2BINFY FY2024: $18.6BINFY FY2025: $19.3BZS FY2019: $302.8MZS FY2020: $431.3MZS FY2021: $673.1MZS FY2022: $1.1BZS FY2023: $1.6BZS FY2024: $2.2BZS FY2025: $2.7BZS FY2026: $3.4BFY18FY19FY20FY21FY22FY23FY24FY25FY26
INFY $19.3BZS $3.4B
Net income
INFY FY2018: $2.5BINFY FY2019: $2.2BINFY FY2020: $2.3BINFY FY2021: $2.6BINFY FY2022: $3BINFY FY2023: $3BINFY FY2024: $3.2BINFY FY2025: $3.2BZS FY2019: -$28.7MZS FY2020: -$115.1MZS FY2021: -$262MZS FY2022: -$390.3MZS FY2023: -$202.3MZS FY2024: -$57.7MZS FY2025: -$41.5MZS FY2026: -$63.2MFY18FY19FY20FY21FY22FY23FY24FY25FY26
INFY $3.2BZS -$63.2M
Net margin
INFY FY2018: 22.7%INFY FY2019: 18.6%INFY FY2020: 18.2%INFY FY2021: 19.3%INFY FY2022: 18.2%INFY FY2023: 16.4%INFY FY2024: 17.1%INFY FY2025: 16.4%ZS FY2019: -9.5%ZS FY2020: -26.7%ZS FY2021: -38.9%ZS FY2022: -35.8%ZS FY2023: -12.5%ZS FY2024: -2.7%ZS FY2025: -1.6%ZS FY2026: -1.9%FY18FY19FY20FY21FY22FY23FY24FY25FY26
INFY 16.4%ZS -1.9%
Revenue growth
INFY FY2019: +7.9%INFY FY2020: +8.3%INFY FY2021: +6.1%INFY FY2022: +20.3%INFY FY2023: +11.7%INFY FY2024: +1.9%INFY FY2025: +3.9%ZS FY2020: +42.4%ZS FY2021: +56.1%ZS FY2022: +62.1%ZS FY2023: +48.2%ZS FY2024: +34.1%ZS FY2025: +23.3%ZS FY2026: +25.4%FY19FY20FY21FY22FY23FY24FY25FY26
INFY +3.9%ZS +25.4%
Free cash flow
INFY FY2018: $1.9BINFY FY2019: $1.9BINFY FY2020: $2.1BZS FY2019: $32.5MZS FY2020: $36.2MZS FY2021: $153.9MZS FY2022: $252.6MZS FY2023: $365.1MZS FY2024: $635.3MZS FY2025: $808.2MZS FY2026: $852.4MFY18FY19FY20FY21FY22FY23FY24FY25FY26
INFY $2.1BZS $852.4M

Fiscal years as each company reports them; the two may end in different months.

Questions about Infosys and Zscaler

Which is bigger by revenue, Infosys or Zscaler?

Infosys is bigger by revenue: $19.3B in fiscal 2025, against $3.4B for Zscaler in fiscal 2026.

Which keeps more of its revenue as profit, Infosys or Zscaler?

Infosys had a net margin of 16.4% in fiscal 2025; Zscaler had -1.9% in fiscal 2026.

Which grew revenue faster, Infosys or Zscaler?

In their latest fiscal years revenue changed by +3.9% at Infosys and +25.4% at Zscaler.

Where do these numbers come from?

From the annual reports each company files with the SEC (10-K, or 20-F and 40-F for foreign companies), read from their XBRL data. Margins and growth are simple arithmetic on those figures. Nothing here is a recommendation.

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