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Sells vulnerability and exposure-management software, including the Nessus scanner, that finds and prioritizes cyber risks.
Sells vulnerability and exposure-management software, including the Nessus scanner, that finds and prioritizes cyber risks.
Sells annual subscriptions, billed up front and recognised over the year, and earns mainly from renewing and expanding them, so the key measure is how much customers keep paying year to year. Nessus, once a free open-source tool, remains the entry point, and newer revenue comes from its broader Tenable One platform.
Moat: narrow (brand, installed base, switching costs). Nessus is a widely deployed, trusted scanning standard, but a competitive security-tools market.
Headquarters: Columbia, Maryland, United States · Founded: 2002 · Employees: 1,995
Size Tenable (TENB) is a United States Information Technology company (Packaged Software) with a market value of $4.40B, the 1281st largest of 3,117 United States companies the cockpit tracks. Shares closed at $42.13 on 6 Nov 2026.
Performance Over six months the shares gained 93.0%, against +4.0% for the median peer and -1.1% for the United States market (cap-weighted) — highest of 19 in its peer set.
Growth Revenue grew 9.5% over the last twelve months (peer median +12.9%); the operating margin is 5.0% (peer median 1.3%).
Valuation It trades at 17.8× forward earnings against a peer median of 30.2× (6th cheapest of 14).
Price implies For today's price to make sense, revenue must grow about 30% a year for seven years (Req g). Recent delivered growth is +18%, so the hurdle is +12 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 4.5 points above its cost of capital (8.7% WACC).
Backlog Backlog (remaining performance obligations) was $1.06B at 30 Sep 2026, up 14% on a year earlier — 1.0 years of trailing revenue. Backlog detail →
Short interest Short interest is 13.8% of the free float (15 Oct 2026).
Next results Next results expected around 9 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | $1.07B | $999M | $900M | $799M | $683M |
| Revenue growth | — | +11% | +13% | +17% | — |
| Gross profit | $834M | $780M | $700M | $615M | $528M |
| EBITDA | $94.7M | $43.2M | $34.4M | -$11.1M | -$43.0M |
| Net income | $15.8M | -$36.1M | -$36.3M | -$78.3M | -$92.2M |
| Free cash flow | $268M | $250M | $207M | $141M | $112M |
| Capital expenditure | $21.3M | $16.6M | $10.7M | $8.76M | $19.1M |
| Total debt | $841M | $417M | $422M | $416M | $423M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Tenable TENB | $4.40B | +93% | +10% | 5% | 17.8× | 30.1% |
| Qualys QLYS | $6.59B | +102% | +11% | 35% | 23.7× | 4.7% |
| Rapid7 RPD | $989M | +113% | 0% | 2% | 7.7× | 21.4% |
| CrowdStrike CRWD | $222B | +64% | +24% | -1% | 153.6× | 52.4% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | TENB | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +8.0% | +2.5% | 10th highest of 21 |
| 6-month return | +93.0% | +4.0% | highest of 19 |
| Distance from 52-week high | -20.8% | -38.7% | 8th highest of 21 |
| Revenue growth (TTM) | +9.5% | +12.9% | 6th lowest of 21 |
| Operating margin | 5.0% | 1.3% | 9th highest of 21 |
| Forward P/E | 17.8× | 30.2× | 6th cheapest of 14 |
| Growth the price implies (Req g, 7 yrs) | 30.1% | 11.3% | 5th most demanding of 12 |
| Growth delivered (Del g) | +17.8% | +11.9% | 5th highest of 12 |
| Hurdle (Req g minus delivered) | +12.3 pp | -4.6 pp | 4th most demanding of 12 |
| ROIC minus cost of capital | +4.5 pp | -6.6 pp | 5th highest of 21 |
| EV / EBITDA | 50.1× | 16.3× | most expensive of 10 |
| Net debt / EBITDA | 3.6× | 0.0× | 4th most indebted of 12 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Tenable TENB | United States | $4.40B | +93% | +10% | 5% | 17.8× | 30.1% | +17.8% |
| HUB24 HUB.AX | Australia | $4.39B | -4% | +23% | 29% | 42.6× | 35.6% | +35.7% |
| Kingsoft 3888.HK | Hong Kong | $4.46B | +4% | 0% | 14% | 15.1× | -5.8% | +10.8% |
| BILL BILL | United States | $4.50B | +25% | +13% | 1% | 13.7× | 36.5% | +47.3% |
| Maase MAAS | United States | $4.51B | +7% | -84% | -16% | n/a | n/a | n/a |
| Sega Sammy 6460.T | Japan | $4.28B | +46% | +24% | 10% | 17.8× | -2.3% | +11.9% |
| CCC Intelligent Solutions CCC | United States | $4.54B | +50% | +11% | 18% | 15.1× | 11.2% | +10.8% |
| RXO RXO | United States | $4.55B | +27% | +10% | 0% | 53.0× | n/a | n/a |
| HeartFlow HTFL | United States | $4.56B | +15% | +40% | -34% | n/a | n/a | n/a |
| Planet Labs PBC PL | United States | $4.57B | -68% | +44% | -26% | n/a | n/a | n/a |
| Beijing DeepZero Technology 2723.HK | Hong Kong | $4.58B | n/a | +31% | 1% | n/a | n/a | n/a |
| Sportradar SRAD | United States | $4.22B | +4% | +25% | 13% | 30.2× | 11.3% | +25.8% |
| China National Software & Service 600536.SS | China | $4.22B | -20% | -16% | 0% | 131.0× | 49.7% | -7.3% |
| OPENLANE OPLN | United States | $4.22B | -9% | +13% | 17% | 20.7× | 11.1% | -2.4% |
| Kingdee International Software 0268.HK | Hong Kong | $4.16B | +3% | +17% | 2% | 65.4× | 45.4% | +15.0% |
| Talkweb Information System 002261.SZ | China | $4.11B | -39% | +9% | 1% | n/a | n/a | n/a |
| Yonyou Network Technology 600588.SS | China | $4.72B | -21% | +4% | -16% | n/a | n/a | n/a |
| OBIC Business Consultants 4733.T | Japan | $4.74B | +62% | +12% | 47% | 36.1× | 3.2% | +11.9% |
| Shanghai Stonehill Technology 002195.SZ | China | $4.77B | -34% | +11% | -25% | 284.5× | n/a | n/a |
| First Advantage FA | United States | $4.04B | +47% | +33% | 11% | 17.4× | 20.8% | +25.3% |
| Momenta Global 6880.HK | Hong Kong | $4.02B | n/a | +82% | -32% | n/a | n/a | n/a |
Tenable reported $1.06B of remaining performance obligations at 30 Sep 2026, up 14% from a year earlier and up 4% from the previous quarter. That is 1.0 years of trailing revenue already under contract. Book-to-bill last quarter: 1.13.