Tenable Holdings, Inc. (TENB) intrinsic value & 10-year financials
Tenable Holdings, Inc. (TENB) has no Graham intrinsic value right now because the formula needs positive earnings. Over the last 10 fiscal years revenue grew 26.1% a year to $999.4M, with an average return on invested capital of -204.7%.
- Graham intrinsic value
- —
- Share price (Oct 17, 2026)
- $37.20
- Market cap
- $4.5B
- Revenue (FY2025)
- $999.4M
- Revenue growth (10-yr CAGR)
- 26.1%
- ROIC (10-yr avg)
- -204.7%
- Free cash flow (FY2025)
- $254.6M
TENB 10-year financial history
| Fiscal year | Revenue | Net income | EPS (diluted) | Free cash flow | Operating margin | ROIC |
|---|---|---|---|---|---|---|
| FY2025 | $999.4M | -$36.1M | -$0.30 | $254.6M | -0.9% | -5.8% |
| FY2024 | $900.0M | -$36.3M | -$0.31 | $213.2M | -0.8% | -4.8% |
| FY2023 | $798.7M | -$78.3M | -$0.68 | $148.2M | -6.5% | -58.0% |
| FY2022 | $683.2M | -$92.2M | -$0.83 | $121.8M | -9.9% | -906.0% |
| FY2021 | $541.1M | -$46.7M | -$0.44 | $90.2M | -7.7% | -398.4% |
| FY2020 | $440.2M | -$42.7M | -$0.42 | $44.0M | -8.3% | -79.1% |
| FY2019 | $354.6M | -$99.0M | -$1.03 | -$31.4M | -25.6% | -649.8% |
| FY2018 | $267.4M | -$73.5M | — | -$8.3M | -27.1% | 33.3% |
| FY2017 | $187.7M | -$41.0M | — | -$9.0M | -21.7% | 10.2% |
| FY2016 | $124.4M | -$37.2M | — | -$8.6M | -28.8% | 11.9% |
Source: annual 10-K filings on SEC EDGAR. Figures in USD.
Executive summary
Tenable Holdings, Inc. is a consistent compounder, expanding top-line revenue at 26.1% annually over the past decade.
Tenable Holdings, Inc. has historically struggled to out-earn its cost of capital, averaging just -11.2% ROIC.
Tenable Holdings, Inc. capital allocation metrics are N/A for the decade; share count and net debt history are incomplete.
Benjamin Graham lens
Under Benjamin Graham's formula using SEC EDGAR fundamentals, Tenable Holdings, Inc. is modeled at 15.0% normalized earnings growth with a 5.1% bond-yield adjustment. The resulting Graham intrinsic value estimate is $-9.96 per share.