Tenable Holdings, Inc. (TENB) Stock

Tenable Holdings, Inc. (TENB) is a Technology stock trading at $34.09 (as of 2026-08-20), with a market capitalization of $3.76B and a trailing P/E of 557.7. Figures are sourced from first-party U.S. SEC EDGAR filings and market data.

Tenable Holdings, Inc. offers cyber exposure and vulnerability management solutions, including cloud-based platforms such as Tenable.io, Tenable.cs, and related products for web application scanning and risk prioritization, as well as on-premises offerings for assessing IT, security and compliance posture and protecting Active Directory and OT environments. It serves organizations across the Americas, Europe, the Middle East, Africa, and the Asia Pacific, including Japan.

Understand Tenable Holdings, Inc.: how it makes money

Tenable provides cyber exposure software (including cloud-delivered SaaS platforms like Tenable.io and Tenable.cs) that helps organizations assess risk-based attack surfaces and detect and fix issues. It makes money primarily through recurring subscription revenue.

The profit model is structurally driven by recurring revenue from its cloud-delivered platform, with growth supported by ongoing customer expansion (Recurring Revenue Percentage of 96.0 percent and a Dollar-Based Net Revenue Expansion Rate of 105.0 percent).

Business quality (Weak): Strong recurring revenue signal, but profitability is still modest on operating margin (3.3 percent).

Bull case

  • Recurring revenue is very high: Recurring Revenue Percentage is 96.0 percent, indicating a subscription-like revenue base tied to its cloud platform.
  • Customer expansion appears to support growth: Dollar-Based Net Revenue Expansion Rate is 105.0 percent, suggesting existing customers are spending more over time.
  • New enterprise platform momentum: New Enterprise Platform Customers Added is 406.0, alongside Net New Six-Figure Customers Added of 43.0.

Bear case

  • Expansion and new customer adds may be the key swing factor: If Dollar-Based Net Revenue Expansion Rate and new customer adds weaken, it could pressure growth given the emphasis on recurring revenue and expansion.
  • Operating margin is relatively low for the size of the gross margin: Gross margin is 78.4 percent, while operating margin is 3.3 percent, which means the company has limited room for cost pressure.
Valuation — source: SEC EDGAR (first-party)
Price$34.09
Market Cap$3.76B
P/E Ratio557.7
EV / EBITDA46.0
Price / Book18.95
Price / Sales3.60
FCF Yield7.0%
DCF Value (model)$49.37
DCF Upside vs Price44.8%
Profitability & Growth — source: SEC EDGAR
Revenue (TTM)$999.40M
Net Margin-3.6%
Revenue Growth (YoY)8.6%
EPS Growth (YoY)-125.0%
FCF Growth (YoY)13.7%
Financial Health — source: SEC EDGAR
Altman Z-Score1.46 (distress)
Valuation vs Sector & Industry
Stock P/E557.7
Sector P/E (Technology)33.9
Industry P/E (Business Services)30.0
vs Sector1543.6%
vs Industry1761.8%
Smart-Money Activity — SEC Form 4 / 13F / Congressional disclosures
Top Institutional HolderVANGUARD GROUP INC ($363.01M)
Institutional Holders Tracked10
Company
SectorTechnology
IndustryBusiness Services
CEOStephen A. Vintz
Employees1,872
CountryUS
IPO Date2018-07-26

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TENB earnings history · TENB institutional & insider holders · TENB KPIs & operating metrics · TENB financials · TENB investor presentations & press releases · TENB SEC filings · TENB peers · Congress trades · Insider trades · Short interest · Stock screener

Data as of 2026-08-20.

Figures sourced from U.S. Securities and Exchange Commission (SEC EDGAR) filings and market data. Not personalized investment advice.