Tenable Holdings, Inc.

TENBUS

Tenable Holdings, Inc. is a cybersecurity firm that specializes in providing comprehensive solutions to identify and manage an organization's exposure to cyber risks. Their services extend globally, catering to clients across the Americas, Europe, the Middle East, Africa, the Asia Pacific region, and Japan. The company offers a diverse suite of platforms and products: Tenable.io functions as a cloud-delivered Software-as-a-Service (SaaS), offering clients a risk-centric overview of both modern and traditional attack surfaces. Tenable.cs is a cloud-native application solution designed to automatically detect and correct misconfigurations within cloud infrastructure. Tenable.io WAS provides crucial scanning capabilities for contemporary web applications. Tenable.ep serves as a unified platform, enabling businesses to discover, evaluate, and precisely prioritize cyber threats across their entire digital landscape. In addition to its cloud offerings, Tenable also delivers on-premises solutions: Tenable.ad is specifically engineered to secure Active Directory environments. Tenable.ot focuses on protecting operational technology (OT) environments, such as industrial networks, by providing threat detection, mitigation, asset tracking, vulnerability management, and configuration control. Tenable.sc offers an on-site, risk-based view of an organization's IT, security, and compliance posture. Furthermore, Tenable includes its renowned Nessus vulnerability assessment tools: Nessus Professional is a robust solution adept at pinpointing security weaknesses, configuration flaws, and malware. Nessus Essentials provides a more streamlined version for vulnerability and configuration assessment, suitable for a limited number of assets. Established in 2002, Tenable Holdings, Inc. is headquartered in Columbia, Maryland.

Founded2002IPO year2018As of2026-08-04
Market Cap
$3.92B
Enterprise Value
$4.04B
EV / LTM Revenue
4.0x
EV / NTM Revenue
3.6x
Trading multiples

Enterprise value over trailing (LTM) vs. forward (NTM) fundamentals. Click an LTM cell to chart it.

LTM
trailing
NTM
forward
Revenue
3.6x
Gross Profit
4.6x
EBITDA
19.4x
Classification
Sector
Cybersecurity
Sub-sector
Security (General)
Listing
TENB
Country
US
Historical valuation & fundamentals

EV / LTM Revenue

Annual financials & analyst forecasts

$MCY2021CY2022CY2023CY2024CY2025CY2026ECY2027E
Revenue YoY26%17%13%11%8%7%
Revenue$541M$683M$799M$900M$999M$1.08B$1.16B
Gross Profit$435M$528M$615M$700M$780M
Gross Profit Margin80.3%77.3%77.0%77.8%78.1%
EBITDA($27M)($45M)($9M)$46M$90M$199M$214M
EBITDA Margin-5.1%-6.6%-1.1%5.1%9.0%18.5%18.5%
EBIT($42M)($68M)($52M)($7M)$1M$143M$153M
Net Income($47M)($92M)($78M)($36M)($36M)$238M$258M
Free Cash Flow$90M$112M$141M$207M$259M
FCF Margin16.7%16.4%17.7%23.0%25.9%
Short-Term Debt$0M$9M$0M$3M$10M
Long-Term Debt$365M$362M$359M$357M$405M
Cash & Cash Equivalents$278M$301M$237M$329M$188M
Net Debt$87M$70M$122M$31M$227M
Net Debt / EBITDA0.7x2.5x
Rule of 4042.6%34.6%35.7%36.9%
Figures in $M. True calendar years (Jan–Dec) built from quarterly data — income & cash-flow lines summed across the four quarters, balance sheet as of year-end. E columns are calendarized analyst consensus — gross profit, cash flow and balance-sheet lines are not estimated. Net debt = short-term debt + long-term debt − cash & cash equivalents; Rule of 40 = YoY revenue growth + FCF margin.