COMPARE · Reviewed August 3, 2026
OKTA vs QLYS
Verdict: Side-by-side breakdown using the Bull Rankings model. OKTA scored 55.1, QLYS scored 72.0 — QLYS leads.
Compare another set
OKTA
Okta, Inc.
55.1
$141.57 · $24.6B
fundamentals as of
Score gap
16.9
QLYS leads
QLYS
Qualys, Inc.
72
$154.89 · $5.5B
fundamentals as of
The model, pillar by pillar (0–100 each)
OKTA
stronger →← stronger
QLYS
48
Qualityreturns · margins · balance sheet
94
86
Growthrevenue & earnings expansion
85
40
Valuevaluation vs sector peers
47
QLYS is stronger on 2 of 3 pillars.
Fundamentals, head-to-head
OKTA
QLYS
$911mC+
FCF
$290mC
+11.7%B
Rev
+10.2%B
0.06A-
D/E
0.09B+
102.6xD
P/E
27.8xB
1.35B
PEG
5.68D
Winner per row is the stronger grade in our model; a tie or a missing value shows no highlight.
Valuation · DCF cross-check
OKTA
QLYS
24% above
Price vs fair valuelower is cheaper
26% below
~13%/yr
Growth the price implies10-yr FCF · lower = less priced in
~-1%/yr
-28%
1-yr DCF upside
+24%
-19%
5-yr DCF upside
+34%
-5%
10-yr DCF upside
+52%
The DCF is a cross-check on intrinsic value, separate from the quality-growth score above.
Model signals
OKTA
Why this score
- Diluting shareholders
QLYS
Why this score
- Buying back stock
- Durable high returns
The companies
OKTAOkta, Inc.
Why now
Software - Infrastructure · market cap $24.6b. 10% off the 52-week high of $157.00. Revenue growing +12%, comfortably above the S&P median. 42 sell-side analysts rate this a Buy with a mean 1-yr target of $129.02 (implying -9% upside).
Moat
Free cash flow runs well ahead of reported net income — non-cash charges (depreciation, intangible amortization) are holding down GAAP earnings while cash generation stays strong. Software economics — recurring revenue, embedded customer workflows, and high gross margin all compound the moat once a base account is won. Switching costs are the lever.
Risk
Trailing P/E 102.6x prices in sustained high growth — any quarter that disappoints triggers sharp re-rating. ROE 4% is below the long-run sustainable threshold of ~10% — capital efficiency would need to improve for the equity base to compound at the market rate. AI-native re-pricing — GPT-class models are compressing the cost of features that took years to build; the moat thesis depends on owning the workflow, not just the feature set.
QLYSQualys, Inc.
Why now
Software - Infrastructure · market cap $5.5b. 8% off the 52-week high of $167.86. Revenue growing +10%, comfortably above the S&P median. 18 sell-side analysts rate this a Hold with a mean 1-yr target of $131.13 (implying -15% upside).
Moat
Net margin 29% sits well above the S&P median (~11%) — suggests structural pricing advantage or cost discipline competitors can't quickly close. ROE 35% — top-decile capital efficiency. Either pricing leverage, low capital intensity, or aggressive buybacks; the durability story depends on which. FCF converts 144% of net income — earnings translate cleanly into cash, a sign that working capital and capex are well-disciplined.
Risk
Software — competitive moat is durable until it isn't; watch net revenue retention, gross margin trends, and any new market entrant with a fundamentally lower price point.
Verdict — model-derived comparison
Generating verdict… typically 5–10 seconds
Not investment advice. The Bull Rankings publishes a quantitative ranking model and accompanying analysis for general informational purposes only. Nothing on this page is a recommendation to buy, sell, or hold any security; nothing is personalized to your circumstances, risk tolerance, or tax situation. Investing carries the risk of loss — invest at your own risk and consider consulting a licensed financial professional before acting on anything you read here. See terms and methodology for full disclosures.