COMP <GO>
VRNS vs TENB // OPERATING MARGIN
Varonis Systems Inc. (NASDAQ) VS. Tenable Holdings Inc. (NASDAQ) • 15-METRIC TALLY: VRNS 5
— TENB 7
▲ OPERATING MARGIN LEADER: TENB
LAST: $48.82 (-0.16%) • MKT CAP: $5.61B
operating-margins
-23.50%
LAST: $51.78 (+6.28%) • MKT CAP: $5.70B
operating-margins
-0.90%
15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (VRNS VS. TENB)
EMERALD CELL = QUANTITATIVE EDGE
| INSTITUTIONAL METRIC | VRNS | TENB | SPREAD (A - B) | ADVANTAGE | DEDICATED URL |
|---|---|---|---|---|---|
| Gross Profit Margin | 78.80% | 78.10% | +0.70 | VRNS | /gross-margins <GO> |
| Return on Invested Capital (ROIC) | -15.30% | -1.00% | -14.30 | TENB | /roic <GO> |
| EV/EBITDA & P/E Valuation | — | — | — | TIE | /valuation <GO> |
| Free Cash Flow Yield | 2.40% | 4.47% | -2.07 | TENB | /fcf-yield <GO> |
| Operating Margin ACTIVE | -23.50% | -0.90% | -22.60 | TENB | /operating-margins <GO> |
| Net Profit Margin | -20.70% | -3.60% | -17.10 | TENB | /net-margins <GO> |
| Revenue Growth (YoY) | 4.40% | 11.00% | -6.60 | TENB | /revenue-growth <GO> |
| Dividend Yield & FCF Payout Safety | 0.00% | 0.00% | 0.00 | TIE | /dividend-safety <GO> |
| Altman Z-Score & Debt/Equity | 3.74 | 2.22 | +1.52 | VRNS | /balance-sheet <GO> |
| Piotroski F-Score Quality | 7/9 | 6/9 | +1.00 | VRNS | /piotroski-score <GO> |
| Options Implied Move & Put/Call Skew | — | — | — | TIE | /options-implied-move <GO> |
| RSI-14 & 200D SMA Momentum | 54.5 | 74.8 | -20.30 | TENB | /rsi-technicals <GO> |
| 10Y Yield & FRED Macro Beta | 1.31 | 1.19 | +0.12 | VRNS | /macro-sensitivity <GO> |
| Forward P/E Multiple | 26.0x | 28.0x | -2.00 | VRNS | /forward-pe <GO> |
| Enterprise Scale & Market Cap | $5.61B | $5.70B | -$95.6M | TENB | /market-cap <GO> |
5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY
| FISCAL YEAR | VRNS REV | TENB REV | VRNS GROSS % | TENB GROSS % | VRNS FCF | TENB FCF |
|---|---|---|---|---|---|---|
| FY 2025 | $623.5M | $999.4M | 78.8% | 78.1% | $134.8M | $254.6M |
| FY 2024 | $551.0M | $900.0M | 83.0% | 77.8% | $108.5M | $213.2M |
| FY 2023 | $0 | $798.7M | — | — | $59.4M | $113.9M |
FRED MACRO REGIME CORRELATION COMPARISON PEARSON r
VRNS // BETA 1.31
TENB // BETA 1.19