| Factor | Score | Distribution | Value | Avg | Rank |
|---|---|---|---|---|---|
Valuation | 35 | 602.2x | 17.8x | Bottom tier | |
Growth | 79 | 9.9% | 7.1% | Top tier | |
Quality | 76 | 3.6% | 4.5% | Top tier | |
Safety | 55 | 1.7x | 2.6x | Around median | |
Capital Return | 74 | — | 2.12% | Top tier | |
Momentum | 77 | 17.3% | 2.9% | Top tier | |
Sentiment | 44 | 15 | 3 | Around median |
Estimates — analyst targets and a simplified DCF, not investment advice.
Ten ratios that matter, each compared against its sector median and average — so you can see whether a number is rich or cheap relative to peers in the same sector.
Tenable Holdings provides a cyber exposure management platform that helps organizations discover assets, vulnerabilities, misconfigurations, and identity risks, then prioritize risks and execute remediation actions. The strategy centers on Tenable One, which combines visibility across the attack surface, attack path analysis, AI Exposure, and the Hexa engine for orchestrating remediation tasks; the company generates revenue primarily from recurring subscriptions, which represented 95% of revenue in Q2 FY2026, alongside professional services associated with certain large deals.
In Q2 FY2026, revenue reached $268.5 million, up 8.6% year over year, and GAAP gross profit was $208.2 million, equivalent to a gross margin of approximately 77.5%, while net income was $3.8 million and earnings per share were $0.03. On a non-GAAP basis, gross margin was 81.4%, operating income was $66.2 million, or 24.7% of revenue, and earnings per share were $0.51.
The business mix in Q2 FY2026 was driven by the expansion of Tenable One, which accounted for a record 50% of new business, compared with 41% in Q1 FY2026 and 40% in Q2 FY2025. The company added 381 enterprise customers and 32 net new six-figure accounts, and its dollar-based net expansion rate rose to 106% from 105%, while trailing-twelve-month data ending in 2026 showed revenue of $1.0 billion, gross profit of $814.5 million, and net income of $6.7 million.
Automated analysis for informational purposes only — not investment advice.
The average analyst price target is $34.6, within a wide range of $27 to $50, and the consensus rating is “Buy”; the average is below the 52-week range high of $43.67, while the highest target exceeds that high and the lowest target remains above the range low of $15.73. No stated price-to-earnings ratio is available, and trailing-twelve-month net income ending in 2026 was only $6.7 million against revenue of $1.0 billion, so the valuation depends heavily on the continued expansion of Tenable One and the conversion of adjusted profitability and cash flow into more firmly established accounting earnings.
Figures in the text are as of 2026-08-31; the live price is shown at the top of the page.
Revenue reached $268.5 million, growing 8.6% year over year, supported by expansion within existing accounts, strong renewals, and the contribution of professional services. Tenable One represented 50% of new business, compared with 41% in the previous quarter and 40% in the comparable quarter. The dollar-based net expansion rate also rose to 106%, and the company added 381 enterprise customers and 32 net new six-figure accounts.
Tenable One combines asset discovery, risk prioritization, attack path analysis, and remediation within a single platform, instead of relying on separate vulnerability management tools. In Q2 FY2026, the platform represented 50% of new business, and adoption of Advanced was approximately twice that of Foundation. The company aims to increase Tenable One's contribution from approximately one-third of total business to nearly 40% by the end of FY2026.
Hexa serves as an agentic engine for orchestrating multi-step security tasks and executing remediation within controls that include human oversight and an audit trail. In Q2 FY2026, more than 80% of those who opened Hexa submitted a prompt, approximately half used the tool to take an action, and customers accepted more than 90% of the recommended actions. In an example presented by the company, Hexa connected data distributed across systems, workflows, and geographies and identified a single fix that could neutralize 53 potential attack paths.
The company raised revenue guidance to $1.075–$1.081 billion, equivalent to growth of 7.9% at the midpoint of the range. It raised non-GAAP operating income guidance to $258–$264 million and adjusted earnings per share guidance to $1.95–$2.00. It also raised its unlevered free cash flow forecast to $289–$295 million, or 27.1% of revenue at the midpoint of the range.
Non-GAAP operating income reached $66.2 million in Q2 FY2026, up 38.8% year over year, and its margin reached 24.7%. Adjusted earnings per share rose to $0.51 from $0.34, while unlevered free cash flow was $45.3 million compared with $44.3 million in the comparable quarter. However, GAAP net income remained limited at $3.8 million for the quarter and $6.7 million for the trailing-twelve-month period ending in 2026.
Revenue growth remains in the single digits, as the midpoint of Q3 FY2026 guidance indicates 7.6%, despite acceleration in the sales pipeline and expansion. Tenable also faces competition from Microsoft and large platforms that bundle some capabilities or provide them for free, while adjusted gross margin declined to 81.4% from 82.0% in the comparable quarter. The wide range of analyst targets between $27 and $50, together with the absence of a stated price-to-earnings ratio and weak GAAP net income, adds a notable degree of uncertainty to the valuation.
