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Varonis Systems Valuation Multiples
Discover revenue and EBITDA valuation multiples for Varonis Systems and similar public comparables like BlackBerry, Qualys, Venustech Group, QiAnXin and more.
Varonis Systems Overview
About Varonis Systems
Varonis Systems is a cybersecurity vendor focused on data privacy and security. The firm is currently undergoing a cloud transition as it weans its on-premises customers over to its cloud products that are delivered as software-as-a-service. The New York-based firm was founded in 2005 and went public in 2014.
Founded
2004
HQ
Employees
2.7K
Website
Financials (LTM)
EV
$2B
Varonis Systems Financials
Varonis Systems reported last 12-month revenue of $654M and EBITDA of $11M.
In the same LTM period, Varonis Systems generated $522M in gross profit, $11M in EBITDA, and $20M in net income.
Revenue (LTM)
Varonis Systems P&L
In the most recent fiscal year, Varonis Systems reported revenue of $624M and EBITDA of $9M.
Varonis Systems expects next 12-month revenue of XXX and NTM EBITDA of XXX
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue | $654M | XXX | $624M | XXX | XXX | XXX |
| Gross Profit | $522M | XXX | $492M | XXX | XXX | XXX |
| Gross Margin | 80% | XXX | 79% | XXX | XXX | XXX |
| EBITDA | $11M | XXX | $9M | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 1% | XXX | XXX | XXX |
| EBIT Margin | (0%) | XXX | (1%) | XXX | XXX | XXX |
| Net Profit | $20M | XXX | $24M | XXX | XXX | XXX |
| Net Margin | 3% | XXX | 4% | XXX | XXX | XXX |
| Net Debt | — | — | $250M | XXX | XXX | XXX |
Financial data powered by Morningstar, Inc.
Varonis Systems Stock Performance
Varonis Systems has current market cap of $3B, and enterprise value of $2B.
Market Cap Evolution
Varonis Systems' stock price is $24.22.
| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $2B | $3B | 1.3% | XXX | XXX | XXX | $0.20 |
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Start Free TrialVaronis Systems Valuation Multiples
Varonis Systems trades at 3.7x EV/Revenue multiple, and 229.3x EV/EBITDA.
EV / Revenue (LTM)
Varonis Systems Financial Valuation Multiples
As of April 18, 2026, Varonis Systems has market cap of $3B and EV of $2B.
Equity research analysts estimate Varonis Systems' 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
Varonis Systems has a P/E ratio of 140.1x.
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $3B | XXX | $3B | XXX | XXX | XXX |
| EV (current) | $2B | XXX | $2B | XXX | XXX | XXX |
| EV/Revenue | 3.7x | XXX | 3.9x | XXX | XXX | XXX |
| EV/EBITDA | 229.3x | XXX | 276.9x | XXX | XXX | XXX |
| EV/EBIT | (1232.1x) | XXX | (670.7x) | XXX | XXX | XXX |
| EV/Gross Profit | 4.7x | XXX | 5.0x | XXX | XXX | XXX |
| P/E | 140.1x | XXX | 118.2x | XXX | XXX | XXX |
| EV/FCF | 19.8x | XXX | 18.5x | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Verified Varonis Systems Valuation Multiples
Access all public comps and forward-looking valuation multiples like EV/Revenue in 2027, based on consensus analyst estimates. Powered by FactSet and Morningstar.
Varonis Systems Margins & Growth Rates
Varonis Systems' revenue in the last 12 month grew by 17%.
Varonis Systems' revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
Varonis Systems' rule of 40 is 19% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
Varonis Systems' rule of X is 43% (created by Bessemer, rule of X is another metric to measure SaaS companies, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
Varonis Systems Operational Valuation Multiples
| LTM | NTM | Last FY | FY 2026 | FY 2027 | FY 2028 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 17% | XXX | 16% | XXX | XXX | XXX |
| EBITDA Margin | 2% | XXX | 1% | XXX | XXX | XXX |
| EBITDA Growth | 177% | XXX | 70% | XXX | XXX | XXX |
| Rule of 40 | — | XXX | 19% | XXX | XXX | XXX |
| Bessemer Rule of X | — | XXX | 43% | XXX | XXX | XXX |
| Revenue per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | — | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | 41% | XXX | 48% | XXX | XXX | XXX |
| G&A Expenses to Revenue | 9% | XXX | 16% | XXX | XXX | XXX |
| R&D Expenses to Revenue | 30% | XXX | 38% | XXX | XXX | XXX |
| Opex to Revenue | — | XXX | 102% | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc. and Morningstar, Inc.
Varonis Systems Public Comps
See public comps and valuation multiples for other Cybersecurity comps.
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| LTM | 2026E | 2027E | LTM | 2026E | 2027E | |
| Varonis Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| BlackBerry | XXX | XXX | XXX | XXX | XXX | XXX |
| Qualys | XXX | XXX | XXX | XXX | XXX | XXX |
| Venustech Group | XXX | XXX | XXX | XXX | XXX | XXX |
| QiAnXin | XXX | XXX | XXX | XXX | XXX | XXX |
| NetScout Systems | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
Varonis Systems M&A Activity
Varonis Systems acquired XXX companies to date.
Last acquisition by Varonis Systems was on XXXXXXXX, XXXXX. Varonis Systems acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Acquisitions by Varonis Systems
| Acquired Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialVaronis Systems Investment Activity
Varonis Systems invested in XXX companies to date.
Varonis Systems made its latest investment on XXXXXXXX, XXXXX. Varonis Systems invested in XXXXXXXX for XXX (EV/Revenue multiple of XXX).
Latest Investments by Varonis Systems
| Company | Valuation | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXXXXX | XXX | XXX | XXX |
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Start Free TrialAbout Varonis Systems
| When was Varonis Systems founded? | Varonis Systems was founded in 2004. |
| Where is Varonis Systems headquartered? | Varonis Systems is headquartered in United States. |
| How many employees does Varonis Systems have? | As of today, Varonis Systems has over 2K employees. |
| Who is the CEO of Varonis Systems? | Varonis Systems' CEO is Yakov Faitelson. |
| Is Varonis Systems publicly listed? | Yes, Varonis Systems is a public company listed on Nasdaq. |
| What is the stock symbol of Varonis Systems? | Varonis Systems trades under VRNS ticker. |
| When did Varonis Systems go public? | Varonis Systems went public in 2014. |
| Who are competitors of Varonis Systems? | Varonis Systems main competitors are BlackBerry, Qualys, Venustech Group, QiAnXin. |
| What is the current market cap of Varonis Systems? | Varonis Systems' current market cap is $3B. |
| What is the current revenue of Varonis Systems? | Varonis Systems' last 12 months revenue is $654M. |
| What is the current revenue growth of Varonis Systems? | Varonis Systems revenue growth (NTM/LTM) is 17%. |
| What is the current EV/Revenue multiple of Varonis Systems? | Current revenue multiple of Varonis Systems is 3.7x. |
| Is Varonis Systems profitable? | Yes, Varonis Systems is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of Varonis Systems? | Varonis Systems' last 12 months EBITDA is $11M. |
| What is Varonis Systems' EBITDA margin? | Varonis Systems' last 12 months EBITDA margin is 2%. |
| What is the current EV/EBITDA multiple of Varonis Systems? | Current EBITDA multiple of Varonis Systems is 229.3x. |
| What is the current FCF of Varonis Systems? | Varonis Systems' last 12 months FCF is $123M. |
| What is Varonis Systems' FCF margin? | Varonis Systems' last 12 months FCF margin is 19%. |
| What is the current EV/FCF multiple of Varonis Systems? | Current FCF multiple of Varonis Systems is 19.8x. |
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