(TENB) Tenable Holdings - Overview
Sector: Technology | Industry: Software - Infrastructure | Exchange: NASDAQ (USA) | Market Cap: 2.806m USD | Total Return: -12.2% in 12m
Avg Turnover: 79.4M
EPS Trend: 97.7%
Qual. Beats: 16
Rev. Trend: 99.8%
Qual. Beats: 8
Warnings
Altman Z'' -2.87 < 1.0 - financial distress zone
Choppy
Tailwinds
Idiosyncratic Leader, Confidence
Tenable Holdings, Inc. (TENB) specializes in cyber exposure management, offering a suite of solutions designed to identify and mitigate security risks across diverse digital environments. Its portfolio includes Tenable AI Exposure, cloud security tools, identity protection, and Nessus, a widely utilized vulnerability assessment solution. The company serves global markets, providing both cloud-delivered SaaS and on-premises platforms to secure traditional IT assets, cloud infrastructure, and operational technology (OT).
Operating within the cybersecurity sector, Tenable utilizes a subscription-based business model that generates recurring revenue through software licenses and cloud services. The vulnerability management market is characterized by high technical barriers to entry and a continuous need for updates as new security threats emerge globally. You may find it useful to examine the companys valuation metrics on ValueRay.
Headquartered in Columbia, Maryland, the firm has expanded its capabilities to include external attack surface management and specialized security for industrial networks. This breadth allows organizations to manage vulnerabilities throughout the entire software development lifecycle and across converged IT/OT environments.
- Expansion into cloud security and identity exposure drives subscription revenue growth
- Shift from legacy vulnerability management to integrated cyber exposure platforms boosts margins
- Global cybersecurity spending trends and enterprise budget constraints impact sales cycles
- Adoption of AI-driven security tools increases competitive differentiation in crowded markets
- Public sector contract wins and government compliance requirements stabilize long-term cash flows
| Net Income: -11.8m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.16 > 0.02 and ΔFCF/TA 2.01 > 1.0 |
| NWC/Revenue: -16.29% < 20% (prev 3.40%; Δ -19.70% < -1%) |
| CFO/TA 0.17 > 3% & CFO 268.6m > Net Income -11.8m |
| Net Debt (124.8m) to EBITDA (113.8m): 1.10 < 3 |
| Current Ratio: 0.78 > 1.5 & < 3 |
| Outstanding Shares: last quarter (117.7m) vs 12m ago -1.99% < -2% |
| Gross Margin: 78.17% > 18% (prev 0.78%; Δ 7.74k% > 0.5%) |
| Asset Turnover: 61.70% > 50% (prev 54.51%; Δ 7.19% > 0%) |
| Interest Coverage Ratio: 1.02 > 6 (EBITDA TTM 113.8m / Interest Expense TTM 70.3m) |
| A: -0.10 (Total Current Assets 595.9m - Total Current Liabilities 762.4m) / Total Assets 1.62b |
| B: -0.55 (Retained Earnings -896.0m / Total Assets 1.62b) |
| C: 0.04 (EBIT TTM 71.5m / Avg Total Assets 1.66b) |
| D: -0.65 (Book Value of Equity -894.8m / Total Liabilities 1.37b) |
| Altman-Z'' = -2.87 = D |
| DSRI: 0.92 (Receivables 170.3m/167.8m, Revenue 1.02b/923.2m) |
| GMI: 1.00 (GM 78.17% / 77.99%) |
| AQI: 1.13 (AQ_t 0.58 / AQ_t-1 0.51) |
| SGI: 1.11 (Revenue 1.02b / 923.2m) |
| TATA: -0.17 (NI -11.8m - CFO 268.6m) / TA 1.62b) |
| Beneish M = -3.12 (Cap -4..+1) = AA |
As of May 30, 2026, the stock is trading at USD 28.23 with a total of 4,443,293 shares traded.
Over the past week, the price has changed by +12.16%,
over one month by +31.49%,
over three months by +46.80% and
over the past year by -12.19%.
Tenable Holdings has received a consensus analysts rating of 3.96. Therefore, it is recommended to buy TENB.
- StrongBuy: 10
- Buy: 3
- Hold: 11
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 28.5 | 1% |
P/E Forward = 12.6422
P/S = 2.7451
P/B = 11.3106
P/EG = 0.9777
Revenue TTM = 1.02b USD
EBIT TTM = 71.5m USD
EBITDA TTM = 113.8m USD
Long Term Debt = 353.6m USD (from longTermDebt, last quarter)
Short Term Debt = 8.04m USD (from shortTermDebt, last quarter)
Debt = 485.1m USD (from shortLongTermDebtTotal, last quarter) + Leases 65.7m
Net Debt = 124.8m USD (calculated: Debt 485.1m - CCE 360.3m)
Enterprise Value = 2.93b USD (2.81b + Debt 485.1m - CCE 360.3m)
Interest Coverage Ratio = 1.02 (Ebit TTM 71.5m / Interest Expense TTM 70.3m)
EV/FCF = 11.14x (Enterprise Value 2.93b / FCF TTM 263.2m)
FCF Yield = 8.98% (FCF TTM 263.2m / Enterprise Value 2.93b)
FCF Margin = 25.74% (FCF TTM 263.2m / Revenue TTM 1.02b)
Net Margin = -1.15% (Net Income TTM -11.8m / Revenue TTM 1.02b)
Gross Margin = 78.17% ((Revenue TTM 1.02b - Cost of Revenue TTM 223.1m) / Revenue TTM)
Gross Margin QoQ = 78.38% (prev 78.78%)
Tobins Q-Ratio = 1.81 (Enterprise Value 2.93b / Total Assets 1.62b)
Interest Expense / Debt = 14.50% (Interest Expense 70.3m / Debt 485.1m)
Taxrate = 21.0% (US default 21%)
NOPAT = 56.5m (EBIT 71.5m * (1 - 21.00%))
Current Ratio = 0.78 (Total Current Assets 595.9m / Total Current Liabilities 762.4m)
Debt / Equity = 1.95 (Debt 485.1m / totalStockholderEquity, last quarter 248.2m)
Debt / EBITDA = 1.10 (Net Debt 124.8m / EBITDA 113.8m)
Debt / FCF = 0.47 (Net Debt 124.8m / FCF TTM 263.2m)
Total Stockholder Equity = 317.4m (last 4 quarters mean from totalStockholderEquity)
RoA = -0.71% (Net Income -11.8m / Total Assets 1.62b)
RoE = -0.97% (Net Income TTM -11.8m / Total Stockholder Equity 1.21b)
RoCE = 4.56% (EBIT 71.5m / Capital Employed (Equity 1.21b + L.T.Debt 353.6m))
RoIC = 11.17% (NOPAT 56.5m / Invested Capital 505.7m)
WACC = 10.16% (E(2.81b)/V(3.29b) * Re(9.94%) + D(485.1m)/V(3.29b) * Rd(14.50%) * (1-Tc(0.21)))
Discount Rate = 9.94% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 51.85 | Cagr: 1.15%
[DCF] Terminal Value 70.68% ; FCFF base≈254.3m ; Y1≈274.8m ; Y5≈337.0m
[DCF] Fair Price = 34.52 (EV 3.93b - Net Debt 124.8m = Equity 3.81b / Shares 110.3m; r=10.16% [WACC]; 5y FCF grow 9.19% → 2.50% )
EPS Correlation: 97.72 | EPS CAGR: 45.36% | SUE: 3.35 | # QB: 16
Revenue Correlation: 99.75 | Revenue CAGR: 12.16% | SUE: 1.10 | # QB: 8
EPS current Quarter (2026-06-30): EPS=0.47 | Chg30d=+7.73% | Revisions=+84% | Analysts=22
EPS next Quarter (2026-09-30): EPS=0.49 | Chg30d=+0.33% | Revisions=+22% | Analysts=22
EPS current Year (2026-12-31): EPS=1.96 | Chg30d=+4.58% | Revisions=+85% | GrowthEPS=+23.1% | GrowthRev=+7.4%
EPS next Year (2027-12-31): EPS=2.17 | Chg30d=+4.48% | Revisions=+68% | GrowthEPS=+10.9% | GrowthRev=+7.2%
[Analyst] Revisions Ratio: +85%