Tenable Holdings, Inc. (TENB) Key Metrics
TENB valuation today
Trailing 12 months · as of October 17, 2026- Market cap
- $4.10B
- Enterprise value
- $4.11B
- P/E (TTM)
- 620.0
- Forward P/E
- 16.3
- PEG ratio
- 1.24
- Price / sales
- 3.9 10-yr median 6.4
- Price / book
- 20.1 10-yr median 15.5
- EV / EBITDA
- 46.8
- Dividend yield
- —
- Beta
- 1.01
TENB key metrics, 2016–2025
Fiscal year ended December 31, 2025 · U.S. dollarsTENB valuation Price multiples at each fiscal year-end price.
TENB returns How much profit the business earns on the capital it uses.
TENB per-share figures Results divided by the shares outstanding at year-end.
TENB financial health Debt, liquidity and how easily interest is covered.
TENB efficiency & capital use Working capital cycle and where the cash goes.
TENB valuation history
TENB returns on capital
Net income (ROE, ROA) or after-tax operating income (ROIC) divided by the average of the opening and closing balance.
TENB debt vs cash
Debt includes short- and long-term borrowings and, where reported, lease liabilities.
TENB cash returned to shareholders
TENB price vs earnings per share
TENB key metrics
2016–2025| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Valuation | ||||||||||
| Market capitalization | $2.83B | $4.68B | $5.32B | $4.25B | $5.86B | $5.28B | $2.30B | $1.19B | — | — |
| Enterprise value | $2.89B | $4.52B | $5.26B | $4.10B | $5.77B | $5.05B | $2.13B | $918.0M | — | — |
| Price / sales | 2.8 | 5.2 | 6.7 | 6.2 | 10.8 | 12.0 | 6.5 | 4.5 | — | — |
| Price / book | 8.7 | 11.7 | 15.3 | 15.7 | 27.2 | 35.0 | 23.3 | 9.8 | — | — |
| Price / free cash flow | 11.1 | 21.9 | 37.7 | 37.9 | 64.9 | 120.1 | — | — | — | — |
| Price / operating cash flow | 10.6 | 21.5 | 35.5 | 32.4 | 60.5 | 82.2 | — | — | — | — |
| EV / sales | 2.9 | 5.0 | 6.6 | 6.0 | 10.7 | 11.5 | 6.0 | 3.4 | — | — |
| EV / EBITDA | 60.9 | 97.8 | — | — | — | — | — | — | — | — |
| EV / free cash flow | 11.3 | 21.2 | 37.2 | 36.6 | 63.9 | 114.8 | — | — | — | — |
| Earnings yield | −1.3% | −0.8% | −1.5% | −2.2% | −0.8% | −0.8% | −4.3% | −6.2% | — | — |
| Free cash flow yield | 9.0% | 4.6% | 2.7% | 2.6% | 1.5% | 0.8% | −1.4% | −0.7% | — | — |
| Dividend yield | — | — | — | — | — | — | — | 0.1% | — | — |
| Shareholder yield (dividends + buybacks) | 8.8% | 2.1% | 0.3% | 0.0% | 0.0% | 0.0% | 0.0% | 0.1% | — | — |
| Share price at fiscal year-end | $23.53 | $39.38 | $46.06 | $38.15 | $55.07 | $52.26 | $23.96 | $22.19 | — | — |
| Per share | ||||||||||
| Revenue per share | $8.32 | $7.58 | $6.92 | $6.14 | $5.09 | $4.36 | $3.69 | $4.98 | $2.38 | $1.58 |
| Earnings per share | −$0.30 | −$0.31 | −$0.68 | −$0.83 | −$0.44 | −$0.42 | −$1.03 | −$1.37 | −$0.52 | −$0.47 |
| Operating cash flow per share | $2.22 | $1.83 | $1.30 | $1.18 | $0.91 | $0.64 | −$0.11 | −$0.05 | −$0.08 | −$0.04 |
| Free cash flow per share | $2.12 | $1.80 | $1.22 | $1.01 | $0.85 | $0.44 | −$0.33 | −$0.15 | −$0.11 | −$0.11 |
| Cash per share | $3.35 | $4.86 | $4.11 | $5.10 | $4.82 | $2.89 | $2.21 | $5.28 | $0.34 | $0.44 |
| Book value per share | $2.72 | $3.37 | $3.00 | $2.43 | $2.02 | $1.49 | $1.03 | $2.27 | −$4.71 | −$3.83 |
| Tangible book value per share | −$4.05 | −$1.99 | −$2.42 | −$1.09 | −$1.11 | $0.82 | $0.30 | $2.26 | −$4.73 | −$3.85 |
| Dividends per share | — | — | — | — | — | — | — | $0.03 | — | — |
| Capex per share | $0.10 | $0.04 | $0.08 | $0.17 | $0.06 | $0.20 | $0.22 | $0.11 | $0.03 | $0.07 |
| Debt per share | $3.88 | $3.56 | $3.58 | $3.80 | $3.97 | $0.58 | $0.48 | $0.19 | $0.04 | $0.01 |
| Shares outstanding | 120.1M | 118.8M | 115.4M | 111.3M | 106.4M | 101.0M | 96.0M | 53.7M | 78.9M | 78.9M |
| Change in shares outstanding | +1.1% | +2.9% | +3.7% | +4.6% | +5.3% | +5.2% | +78.9% | −32.0% | 0.0% | — |
| Returns & profitability | ||||||||||
| Return on equity (ROE) | −9.9% | −9.7% | −25.4% | −37.9% | −25.5% | −34.2% | −89.7% | — | — | — |
| Return on invested capital (ROIC) | 0.3% | −2.0% | −20.0% | −42.6% | −156.1% | — | — | — | — | — |
| Return on assets (ROA) | −2.1% | −2.2% | −5.1% | −6.9% | −4.8% | −6.8% | −19.4% | −23.5% | −30.4% | −35.3% |
| Return on tangible assets | −3.9% | −3.3% | −8.0% | −8.8% | −5.1% | −6.9% | −20.2% | −16.0% | −25.2% | −35.9% |
| Free cash flow margin | 25.5% | 23.7% | 17.7% | 16.4% | 16.7% | 10.0% | −8.9% | −3.1% | −4.8% | −6.9% |
| Financial health | ||||||||||
| Total debt | $465.6M | $422.3M | $413.3M | $423.1M | $422.1M | $58.3M | $45.9M | $10.3M | $2.9M | $1.1M |
| Cash & short-term investments | $402.2M | $577.2M | $474.0M | $567.4M | $512.3M | $291.8M | $212.3M | $283.2M | $27.2M | $34.5M |
| Net debt | $63.4M | −$154.9M | −$60.7M | −$144.3M | −$90.2M | −$233.5M | −$166.4M | −$272.9M | −$24.3M | −$33.4M |
| Debt / equity | 1.43 | 1.06 | 1.19 | 1.56 | 1.96 | 0.39 | 0.46 | 0.08 | — | — |
| Debt / assets | 0.27 | 0.24 | 0.26 | 0.29 | 0.34 | 0.08 | 0.08 | 0.02 | 0.02 | 0.01 |
| Net debt / EBITDA | 1.34 | −3.35 | — | — | — | — | — | — | — | — |
| Current ratio | 0.95 | 1.27 | 1.19 | 1.47 | 1.55 | 1.29 | 1.11 | 1.56 | 0.62 | 0.83 |
| Quick ratio | 0.95 | 1.27 | 1.19 | 1.39 | 1.55 | 1.29 | 1.11 | 1.56 | 0.62 | 0.83 |
| Interest coverage | 0.0 | -0.2 | -1.7 | -3.6 | -5.6 | -73.5 | -15.6 | — | -543.5 | — |
| Working capital | −$39.4M | $202.7M | $129.6M | $273.0M | $265.6M | $108.9M | $35.3M | $142.5M | −$69.1M | −$18.5M |
| Invested capital | $389.8M | $245.1M | $285.7M | $126.6M | $125.1M | −$82.8M | −$67.5M | −$151.2M | −$396.0M | −$335.3M |
| Tangible asset value | −$486.8M | −$235.8M | −$279.2M | −$121.0M | −$117.8M | $83.1M | $29.3M | $121.1M | −$373.0M | −$303.8M |
| Net current asset value | −$647.7M | −$401.4M | −$455.1M | −$311.5M | −$284.1M | −$56.1M | −$96.7M | $57.9M | −$424.7M | −$319.7M |
| Graham net-net per share | −$6.74 | −$4.81 | −$5.39 | −$3.94 | −$3.94 | −$1.60 | −$1.84 | −$0.08 | −$5.97 | −$4.38 |
| Capital allocation | ||||||||||
| Dividends paid | — | — | — | — | — | — | — | $1.7M | — | — |
| Share buybacks (net) | $247.5M | $100.0M | $14.9M | $0 | $0 | $0 | $0 | $75,000 | $385,000 | $85,000 |
| Dividends + buybacks / free cash flow | 97.2% | 46.9% | 10.6% | 0.0% | 0.0% | 0.0% | — | — | — | — |
| Capex / revenue | 1.2% | 0.5% | 1.1% | 2.8% | 1.2% | 4.6% | 5.8% | 2.1% | 1.5% | 4.6% |
| Capex / operating cash flow | 4.5% | 2.0% | 5.8% | 14.6% | 6.8% | 31.6% | — | — | — | — |
| Capex / depreciation | 0.29 | 0.13 | 0.32 | 0.86 | 0.41 | 1.91 | 3.00 | 0.93 | 0.59 | 1.89 |
| Stock-based compensation / revenue | 19.2% | 18.2% | 18.2% | 17.7% | 14.7% | 13.5% | 11.7% | 8.6% | 4.1% | 2.0% |
| R&D / revenue | 22.4% | 20.2% | 19.2% | 21.0% | 21.5% | 23.1% | 24.6% | 28.7% | 30.7% | 32.2% |
| SG&A / revenue | 56.3% | 57.7% | 63.8% | 66.3% | 66.5% | 67.6% | 83.9% | 82.3% | 77.4% | 85.1% |
| Efficiency | ||||||||||
| Days sales outstanding | 98.2 | 97.1 | 93.1 | 86.5 | 85.0 | 87.1 | 83.9 | 81.3 | 84.5 | 105.9 |
| Days of inventory on hand | — | — | 44.0 | 52.2 | 0.0 | — | 0.0 | — | 0.0 | 0.0 |
| Days payables outstanding | 34.9 | 33.7 | 35.5 | 41.2 | 37.7 | 17.6 | 5.7 | 2.2 | 7.1 | 16.7 |
| Cash conversion cycle (days) | 63.3 | 63.3 | 101.6 | 97.5 | 47.3 | 69.6 | 78.2 | 79.2 | 77.5 | 89.2 |
| Receivables turnover | 3.72 | 3.76 | 3.92 | 4.22 | 4.30 | 4.19 | 4.35 | 4.49 | 4.32 | 3.45 |
| Payables turnover | 10.46 | 10.82 | 10.30 | 8.85 | 9.68 | 20.78 | 63.92 | 169.61 | 51.75 | 21.84 |
| Inventory turnover | — | — | 8.29 | 6.99 | 106,396,000.00 | — | 60,818,000.00 | — | 25,588,000.00 | 14,219,000.00 |
| Asset turnover | 0.57 | 0.54 | 0.52 | 0.51 | 0.56 | 0.70 | 0.70 | 0.86 | 1.39 | 1.18 |
| Average receivables | $268.9M | $239.4M | $203.7M | $162.0M | $126.0M | $105.1M | $81.5M | $59.6M | $43.5M | $36.1M |
| Average payables | $20.9M | $18.5M | $17.8M | $17.5M | $11.0M | $3.7M | $951,500 | $254,500 | $494,500 | $651,000 |
| Average inventory | — | — | $22.1M | $22.1M | $1 | — | $1 | — | $1 | $1 |
| Intangibles / total assets | 46.5% | 36.5% | 38.9% | 27.2% | 26.7% | 9.8% | 12.5% | 0.2% | 0.8% | 1.8% |
Computed from TENB's annual financial statements (latest annual report filed February 27, 2026) and the closing share price on each fiscal year-end, adjusted for stock splits. Figures in U.S. dollars; data from EODHD. Averages use the opening and closing balance of each year.
TENB valuation and financial ratios
Based on the latest twelve months, the trailing P/E is 620.0 and the forward P/E is 16.3. Tenable earned a return on equity of −9.9% and a return on invested capital of 0.3% in fiscal 2025. It ended the year with $465.6 million of debt and $402.2 million in cash and short-term investments, net debt of $63.4 million. It returned $247.5 million to shareholders: $0 in dividends and $247.5 million in share buybacks, 97% of free cash flow. The share count rose 52.3% from 78.9M to 120.1M over 9 years.
See the TENB income statement, the TENB chart for price history, or the TENB stock overview for the latest quote and news.
TENB key metrics FAQ
What is Tenable's P/E ratio?
Tenable's trailing P/E ratio is 620.0 based on the last twelve months of earnings (as of October 17, 2026), and its forward P/E is 16.3. At the end of fiscal 2025 it was —.
What is Tenable's EV/EBITDA?
Tenable's enterprise value was 60.9 times EBITDA at the end of fiscal 2025 (enterprise value $2.9 billion, EBITDA $47.4 million); the current EV/EBITDA is 46.8.
What is Tenable's return on equity?
Tenable's return on equity (ROE) was −9.9% in fiscal 2025: net income of -$36.1 million on average shareholders' equity of $363.2 million.
What is Tenable's ROIC?
Tenable's return on invested capital was 0.3% in fiscal 2025, using after-tax operating income divided by average debt plus equity minus cash.
How much debt does Tenable have?
Tenable had total debt of $465.6 million at the end of fiscal 2025, a debt-to-equity ratio of 1.43 and $63.4 million of net debt (1.34 times EBITDA).
Does Tenable buy back its shares?
Yes. Tenable spent $247.5 million on net share repurchases in fiscal 2025 Shares outstanding changed +1.1% over the year, to 120.1M..
What is Tenable's free cash flow yield?
Tenable generated $254.6 million of free cash flow in fiscal 2025, a free cash flow yield of 9.0% on its market value at year-end ($2.8 billion).
What is Tenable's current ratio?
Tenable's current ratio was 0.95 at the end of fiscal 2025: current assets were 0.95 times current liabilities.