Qualys vs Varonis Systems
Qualys and Varonis Systems are similar in size: $669m and $624m of revenue in their latest fiscal years. Varonis Systems grew faster (13.2% against 10.1%). Qualys kept more of each dollar of sales as profit: a net margin of 29.6% against -20.7%. Qualys carries less debt relative to equity (0.0% against 75.5%).
| Latest fiscal year | QualysQLYS, 2025 | Varonis SystemsVRNS, 2025 |
|---|---|---|
| Revenue | $669m | $624m |
| Revenue growth | 10.1% | 13.2% |
| Net income | $198m | −$129m |
| Operating margin | 33.2% | -23.5% |
| Net margin | 29.6% | -20.7% |
| Return on equity | 38.2% | -24.5% |
| Free cash flow | $304m | $135m |
| Cash | $250m | $202m |
| Total debt | $0 | $452m |
| Debt to equity | 0.0% | 75.5% |
| Dividend per share | — | — |
| Dividend yield | — | — |
| Share buybacks | $183m | $115m |
| Employees | — | — |
| Market value | $7.30bn | $5.61bn |
| Price vs our value range | Within our value range | — |
| Moat score | 72 (Strong) | 36 (Weak) |
| Insider trades, 12 months | 0 buys, 156 sales | 4 buys, 0 sales |