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Tenable Holdings, Inc. key statistics and ratios

In fiscal 2025, Tenable Holdings, Inc. had return on equity of -9.9% and a net margin of -3.6%. Each ratio below is calculated from the figures on its income statement, balance sheet and cash flow pages.

Financial ratios

US$ thousands unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Fiscal year2016Dec 20162017Dec 20172018Dec 20182019Dec 20192020Dec 20202021Dec 20212022Dec 20222023Dec 20232024Dec 20242025Dec 2025LTMJun 2026
Net margin−29.9%−21.9%−27.5%−27.9%−9.7%−8.6%−13.5%−9.8%−4.0%−3.6%0.6%
Return on equity———−89.7%−34.2%−25.5%−37.9%−25.4%−9.7%−9.9%2.6%
Return on assets—−25.0%−23.5%−19.4%−6.8%−4.8%−6.9%−5.1%−2.2%−2.1%0.4%
R&D as % of revenue32.2%30.7%28.7%24.6%23.1%21.5%21.0%19.2%20.2%22.4%21.5%

Returns use average equity or assets over the year. Return on equity is left blank when equity is negative or so small that the ratio says nothing (above ±200%); interest cover is left blank above 200 times. Price-based ratios such as P/E are on the valuation page.

Financial health

1 of 3 checks passed · June 30, 2026
What it owns · $1.6bn
Short-term assets $609mLonger-term assets $965m
What it owes, and who funded it · $1.6bn
Short-term liabilities $775mLonger-term liabilities $600mShareholders' equity $198m
  • Short-term assets cover short-term liabilities $609m of assets due within a year against $775m of liabilities due within a year.
  • Short-term assets cover long-term liabilities $609m short-term assets against $600m of longer-dated liabilities.
  • More cash than debt Cash or debt not separately reported. Not assessable.
  • Debt below 40% of shareholders' equity Equity or debt not reported. Not assessable.
  • Debt burden no higher than five years ago Five-year comparison not available. Not assessable.
  • A year's operating cash flow covers at least 20% of debt Cash flow or debt not reported. Not assessable.
  • Operating profit covers interest at least five times over Operating income of $37m against $27m of interest.

From Tenable Holdings, Inc.'s latest balance sheet as filed. Checks are fixed, documented rules (methodology), counted only where the company reports the figures — a dot means the filing doesn't break the item out. Descriptions of reported data, not advice.

Moat

58 /100

Moderate moat

How hard Tenable Holdings's competitive advantage looks for rivals to wear away, judged from 9 years of its own filings: returns on capital, pricing power, profit durability, cash conversion and discipline.

  • Returns on capital 16 / 20

    Cash operating profit has been a median 12.5% of total assets over 7 years.

  • Pricing power 19 / 20

    Gross margin has been a median 78.9%, moving by 2.7 percentage points (standard deviation) across 9 years.

  • Durability 10 / 20

    Operating margin has been a median -7.7%; its worst year was -27.6%.

  • Cash conversion 15 / 20

    Free cash flow was positive in 6 of 9 years, at a median 17.4% of revenue.

  • Discipline 2 / 20

    The diluted share count rose 13.4% over five years; stock-based pay has been a median 16.2% of revenue.

AI disruption exposure: Medium. In this industry, AI could change how the product is made or sold, without replacing the core asset. The score above includes a 5-point deduction for that exposure (63 before it).

A rules-based reading of reported figures, not a forecast and not investment advice. How the score is built: methodology.

Compare with peers

Head to head: GTLB vs TENBDLO vs TENBS vs TENB

More: Systems Software stocks compared, Technology sector, rankings of US companies

Figures from Tenable Holdings, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Tenable Holdings, Inc.