# Varonis Systems Inc. (VRNS) fundamentals

Data as of 2026-09-08. NASDAQ, United States. Sector: Technology / Software. Price $46.09, market value $5.3 billion.

## Valuation
- **P/E (trailing): n/a** (negative earnings). Varonis Systems Inc. reported negative earnings over the last twelve months, so the P/E is not meaningful; use price-to-sales, EV/EBITDA and free-cash-flow yield instead.
- **Price / sales: 7.7×**. Each dollar of revenue is priced at 7.7×.
- **Price / book: 11.9×**. The shares trade at 11.9× book value; most of the value is in earnings power and intangibles rather than the balance sheet.
- **Free-cash-flow yield: 2.3%** (5-yr avg 1.4%). Free cash flow equals 2.3% of the market value, above its five-year average of 1.4%, so the shares are cheaper on cash than they have usually been.

## Profitability
- **Gross margin: 77.1%**. Varonis Systems Inc. keeps 77.1% of revenue after the direct cost of what it sells, the kind of margin that comes with software, brands or pricing power.
- **Operating margin: -22.0%**. Operating margin is negative: the business loses money before interest and tax.
- **Net margin: -20.7%**. The company reported a net loss over the last twelve months.
- **Return on equity: -21.6%**. Return on equity is negative because earnings are negative.
- **Return on assets: -7.9%**. Each dollar of assets produces -7.9% of profit.

## Growth
- **Revenue growth (1 yr): 13.2%** (3-yr 9.6%/yr, 5-yr 16.3%/yr). Revenue grew 13.2% over the last year, against 16.3% a year compounded over five years.
- **EPS growth (1 yr): -31.4%**. Earnings per share fell 31.4%, slower than revenue, so margins compressed.
- **Free-cash-flow growth (3 yr): 557.2%/yr**. Free cash flow has compounded at 557.2% a year over three years.

## Financial health
- **Current ratio: 1.97** (quick 1.97). Current assets cover the next year's liabilities 1.97 times.
- **Piotroski F-score: 4/9**. 4 of 9 checks pass: mixed.

## Dividends
- **Dividend: none**. Varonis Systems Inc. does not currently pay a dividend.

## Price and momentum
- **Total return (1 yr): -17.3%** (YTD 40.5%, 3-mo 41.0%). The shares are down 17.3% over twelve months including dividends.
- **From 52-week high: -27.9%** (134.0% above the low). Trading 28% below its 52-week high.
- **200-day average: above**. The price sits above its 200-day moving average, the usual definition of an uptrend.
- **RSI (14-day): 59**. An RSI of 59 is neutral.
- **Beta (1 yr): 1.06** (volatility 72%). Beta of 1.06 against the S&P 500: the shares move roughly with the market.

Live score and charts: https://foliofundamentals.com/analyzer?s=VRNS · Page: https://foliofundamentals.com/stocks/vrns

Not investment advice.