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| Company | Headquarters | Sector | Stock Price | Enterprise Value | EV/Revenue | EV/EBITDA |
|---|---|---|---|---|---|---|
| IBM | United States of America | IT Consulting, Cloud Infrastructure, Network Management, Cybersecurity, Electronic Equipment, AI Conglomerates | $309 | $340B | 5.1x | 18.6x |
| Palo Alto Networks | United States of America | Cybersecurity | $187 | $127B | 13.0x | 41.0x |
| CrowdStrike | United States of America | Cybersecurity, Vertical AI Applications | $489 | $119B | 25.4x | 94.4x |
| Cloudflare | United States of America | Cybersecurity, Cloud Infrastructure | $198 | $68.6B | 32.3x | 144.8x |
| Fortinet | United States of America | Cybersecurity | $82 | $58.5B | 8.7x | 23.7x |
| Zscaler | United States of America | Cybersecurity | $230 | $35.2B | 12.1x | 46.8x |
| Gen Digital | United States of America | Cybersecurity | $27 | $25.0B | 5.4x | 10.4x |
| CyberArk Software | United States of America | Cybersecurity | $449 | $22.4B | 16.9x | 61.8x |
| Check Point Software | United States of America | Cybersecurity | $188 | $18.7B | 6.9x | 16.5x |
| Rubrik | United States of America | Cybersecurity | $80 | $15.5B | 12.6x | -375.3x |
| CACI International | United States of America | IT Consulting, Cybersecurity | $560 | $15.4B | 1.7x | 15.1x |
| F5 | United States of America | Cybersecurity, Network Management | $263 | $14.2B | 4.6x | 12.4x |
| Okta | United States of America | Cybersecurity | $88 | $13.6B | 4.7x | 17.8x |
| SailPoint | United States of America | Cybersecurity | $21 | $11.6B | 11.1x | 60.3x |
| Qihoo 360 | China | Cybersecurity | CNY 11 | $7.8B | 6.7x | N/A |
| Netskope | United States of America | Cybersecurity | $19 | $7.2B | N/A | N/A |
| CommVault Systems | United States of America | Data Infrastructure, IT Operations Management, Cybersecurity, Data Storage | $120 | $5.1B | 4.6x | 22.3x |
| Qualys | United States of America | Cybersecurity | $144 | $4.8B | 7.2x | 15.5x |
| SentinelOne | United States of America | Cybersecurity | $15 | $4.4B | 4.5x | 59.2x |
| Trend Micro | Japan | Cybersecurity | JPY 6788 | $4.3B | 2.4x | 8.2x |
| Cellebrite | United States of America | Cybersecurity, Public Sector & Non-Profit Software | $18 | $3.9B | 8.2x | 30.8x |
| Varonis Systems | United States of America | Cybersecurity | $33 | $3.7B | 6.0x | 1600.4x |
| QiAnXin | China | Cybersecurity | CNY 34 | $3.6B | 5.2x | -385.7x |
| Clear Secure | United States of America | Cybersecurity, Airports & Aviation Services | $39 | $3.4B | 3.8x | 13.6x |
| Progress Software | United States of America | Cybersecurity, Developer Tools, Network Management | $43 | $3.2B | 3.3x | 8.4x |
| Tenable | United States of America | Cybersecurity, Vertical AI Applications | $25 | $3.0B | 3.0x | 13.1x |
| AvePoint | United States of America | Communication & Collaboration Software, Cybersecurity | $14 | $2.5B | 6.1x | 31.9x |
| BlackBerry | Canada | Cybersecurity | CAD 6 | $2.5B | 4.6x | 26.6x |
| Venustech Group | China | Cybersecurity | CNY 14 | $2.2B | 5.7x | 3142.3x |
| CloudWalk | China | Cybersecurity | CNY 14 | $2.0B | N/A | N/A |
| Jamf | United States of America | IT Operations Management, DevOps, Cybersecurity | $13 | $2.0B | 2.8x | 12.1x |
| CETC Cyberspace Security | China | Cybersecurity | CNY 18 | $1.8B | 5.2x | 52.1x |
| Rapid7 | United States of America | Cybersecurity | $16 | $1.6B | 1.9x | 9.8x |
| Glory View Technology Co | China | Cybersecurity | CNY 63 | $1.6B | 16.8x | -145.3x |
| NetScout Systems | United States of America | Network Management, Cybersecurity | $28 | $1.5B | 1.8x | 7.0x |
| Eastcompeace Tech Co | China | Cybersecurity | CNY 22 | $1.5B | N/A | N/A |
| Secunet | Germany | Cybersecurity, Public Sector & Non-Profit Software | €186 | $1.4B | 2.8x | 17.7x |
| DPtech | China | Cybersecurity, Network Management | CNY 19 | $1.3B | 7.9x | 58.0x |
| Beijing VRV Software | China | Cybersecurity | CNY 6 | $1.2B | N/A | N/A |
| A10 Networks | United States of America | Network Management, Cybersecurity | $18 | $1.2B | 4.0x | 14.6x |
| Tinexta | Italy | IT Consulting, Cybersecurity | €15 | $1.1B | 1.8x | 7.9x |
| BeiJing Certificate | China | Cybersecurity | CNY 28 | $1.0B | N/A | N/A |
| Asiainfo Security | China | Network Management, Cybersecurity | CNY 18 | $1.0B | 2.0x | N/A |
| Feitian Technologies Co | China | Cybersecurity | CNY 16 | $932M | N/A | N/A |
| BTQ Technologies | Canada | Cybersecurity | CAD 9 | $896M | N/A | N/A |
| GB Group | United Kingdom of Great Britain and Northern Ireland | Cybersecurity | £3 | $889M | 2.3x | 9.5x |
| CANCOM | Germany | IT Consulting, Cloud Infrastructure, Cybersecurity | €27 | $882M | 0.4x | 7.2x |
| NSFOCUS | China | Cybersecurity | CNY 7 | $879M | 2.3x | 13.0x |
| Radware | United States of America | Cybersecurity | $24 | $810M | 2.7x | N/A |
| Red Violet | United States of America | BI & Analytics Software, Cybersecurity | $54 | $723M | 8.2x | 24.5x |
| DBAPPSecurity | China | Cybersecurity | CNY 50 | $700M | 2.2x | 40.4x |
| Yubico | Sweden | Cybersecurity | SEK 82 | $679M | 2.8x | 20.7x |
| NCC Group | United Kingdom of Great Britain and Northern Ireland | Cybersecurity | £1 | $583M | 1.4x | 10.1x |
| Sansec | China | Cybersecurity | CNY 42 | $580M | 8.6x | 78.6x |
| F-Secure | Finland | Cybersecurity | €2 | $561M | 3.2x | 9.4x |
| Itsec Asia | Indonesia | Cybersecurity | IDR 1395 | $559M | 28.6x | 1034.2x |
| eMudhra | India | Cybersecurity | INR 604 | $536M | 7.3x | 30.9x |
| Guangdong Tecsun Science | China | Cybersecurity | CNY 9 | $523M | N/A | N/A |
| Hillstone Networks Co | China | Cybersecurity | CNY 18 | $513M | N/A | N/A |
| Qoria | Australia | Cybersecurity | AUD 1 | $510M | 5.9x | 35.3x |
| Hunan Kylinsec Tech | China | Cybersecurity | CNY 41 | $485M | N/A | N/A |
| Mia Teknoloji | Turkey | Cybersecurity, IT Consulting | TRY 38 | $452M | N/A | N/A |
| Riskified | United States of America | E-commerce Software, Cybersecurity | $5 | $443M | 1.3x | 18.6x |
| Baudroie | Japan | IT Consulting, Cloud Infrastructure, Cybersecurity | JPY 2257 | $442M | 4.2x | 19.4x |
| Digital Arts | Japan | Cybersecurity, Public Sector & Non-Profit Software | JPY 6450 | $432M | 6.0x | N/A |
| Mitek Systems | United States of America | Cybersecurity, Governance, Risk & Compliance Software | $10 | $424M | 2.3x | 7.9x |
| Beijing Huaru Technology | China | Cybersecurity | CNY 22 | $402M | 11.4x | -7.0x |
| WebRAY Tech Group | China | Cybersecurity | CNY 40 | $400M | N/A | N/A |
| OneSpan | United States of America | Cybersecurity | $13 | $399M | 1.7x | 5.7x |
| Telos | United States of America | Cybersecurity | $5 | $349M | 2.2x | 23.4x |
| WithSecure | Finland | Cybersecurity | €2 | $349M | 2.4x | 50.9x |
| Arqit Quantum | United States of America | Cybersecurity | $24 | $345M | 202.8x | -11.5x |
| FFRI Security | Japan | Cybersecurity | JPY 6890 | $328M | 16.8x | N/A |
| Global Security Experts | Japan | Cybersecurity | JPY 2926 | $286M | 4.2x | N/A |
| AHNLAB | South Korea | Cybersecurity | KRW 62800 | $218M | N/A | N/A |
| Hennge | Japan | Cybersecurity | JPY 1280 | $215M | 3.1x | N/A |
| Cy4gate | Italy | Cybersecurity | €8 | $205M | 1.9x | 10.1x |
| SSH Communications Security | Finland | Cybersecurity | €3 | $191M | 7.4x | 79.0x |
| TAC Infosec | India | Cybersecurity | INR 805 | $183M | N/A | N/A |
| WALLIX | France | Cybersecurity | €22 | $176M | 3.7x | 65.3x |
| Digimarc | United States of America | Design & Engineering Software, Cybersecurity | $8 | $167M | 5.0x | N/A |
| Enea | Sweden | Cybersecurity, Network Management, Networking Hardware | SEK 65 | $159M | 1.6x | 5.5x |
| Axgate Co | South Korea | Cybersecurity | KRW 7700 | $145M | N/A | N/A |
| Quick Heal | India | Cybersecurity, IT Consulting | INR 275 | $144M | N/A | N/A |
| Acer Cyber Security | Taiwan | Cybersecurity | TWD 170 | $133M | 1.7x | 9.4x |
| Intellicheck | United States of America | Cybersecurity, Governance, Risk & Compliance Software | $6 | $120M | 5.4x | 85.0x |
| CyberSolutions | Japan | Cybersecurity | JPY 1286 | $117M | N/A | N/A |
| Micro Systemation | Sweden | Cybersecurity, Public Sector & Non-Profit Software | SEK 61 | $116M | 2.7x | 14.4x |
| Clavister Holding | Sweden | Cybersecurity | SEK 3 | $112M | 4.7x | 26.4x |
| World Health Energy Hldgs | United States of America | Cybersecurity | $0 | $109M | N/A | N/A |
| Hancom | South Korea | Cybersecurity | KRW 3870 | $106M | N/A | N/A |
| Spectra Systems | United Kingdom of Great Britain and Northern Ireland | Financial Services Software, Cybersecurity | £1 | $104M | 2.0x | 3.8x |
| Innovana Thinklabs | India | Cybersecurity | INR 436 | $103M | N/A | N/A |
| Autocrypt Co | South Korea | Cybersecurity | KRW 15470 | $103M | N/A | N/A |
| CSP | United States of America | IT Consulting, Cybersecurity, Electronic Equipment | $13 | $99.7M | N/A | N/A |
| Cyber Security Cloud | Japan | Cybersecurity | JPY 1711 | $93.1M | 3.8x | N/A |
| ESTsoft | South Korea | Cybersecurity | KRW 17250 | $92.4M | N/A | N/A |
| Aton | South Korea | Cybersecurity | KRW 6250 | $89.2M | N/A | N/A |
| Loihde | Finland | Cybersecurity, IT Consulting | €12 | $87.9M | 0.5x | 7.7x |
| Facephi Biometria | Spain | Cybersecurity | €2 | $85.6M | 2.0x | 21.2x |
Valuation multiples as of last 12 months (LTM). Stock prices as of December 17, 2025. Financial data powered by Morningstar and FactSet.
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