Tenable Holdings (TENB) Fair Value & Analysis
Technology · US · Market cap $4.6B
Tenable Holdings
TENB · US
Fair value as of: Aug 13, 2026
From 11 valuation models · updated today
Fair value updated Aug 13, 2026, revised from $2.57 to $4.53 (+76.3%) since Jul 11, 2026. Share price −6.1% over the past month.
A solid business, but screening 89% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case ($6.29). The favourable scenario is already priced in.
- Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder.
- A fairly wide model range ($2.76 to $6.29) leaves room in how you read the outcome.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range $16.04 – $62.66 · fair‑value band $2.76 – $6.29 · the $40.03 price screens above the $4.53 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Tenable Holdings (TENB) currently trades at $40.03, while our model-based Fair Value estimate is $4.53, implying the stock looks roughly 88.7% overvalued today. The Quality Score stands at 56/100 (solid quality), in the Technology sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: medium).
Over the trailing twelve months, Tenable Holdings generated revenue of $1.0B at a net margin of -1.2%. Revenue grew 9.6% year over year. It earns a return on equity of -3.7%. Net debt stands at $278M. Fundamentals as of Aug 13, 2026
Our scenario range runs from $2.76 (bear case) to $6.29 (bull case); at $40.03, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 154% above its 52-week low, currently above its 200-day average. For context, the median of 10 Technology peers we cover trades at -59% fair-value upside, at -89%, TENB screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 11 models by family
Widest divergence: DCF Models ($23.98) versus Dividend Discount ($0.2300). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 56 · Market factors (momentum, volatility) 74
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Tenable Holdings, Inc. provides cyber exposure management solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan.
Full company description
Tenable Holdings, Inc. provides cyber exposure management solutions in the Americas, Europe, the Middle East, Africa, the Asia Pacific, and Japan. Its platforms include Tenable AI Exposure, a solution that helps organizations identify, assess, and reduce security risks associated with the use of artificial intelligence technologies; Tenable Vulnerability Management, a cloud-delivered software as a service that provides organizations with a risk-based view of traditional and modern attack surfaces; Tenable Cloud Security, a cloud security solution for use in exposing and closing priority security gaps caused by misconfigurations, risky entitlements, and vulnerabilities; Tenable Identity Exposure, a solution for end-to-end protection from identity-based threats; and Tenable Web App Scanning, which provides configuration and management of web app scans. The company also provides Tenable Attack Surface Management, an external attack surface management solution; Tenable Security Center, an on-premises vulnerability management solution; and Tenable OT Security, a unified security solution for converged OT/IoT environments that provide threat detection, asset tracking, vulnerability management, and configuration control capabilities to protect OT environments, including industrial networks. In addition, it offers Nessus, a vulnerability assessment solution for cybersecurity industry and enterprise platform; and Nessus Expert, which enables users to programmatically detect cloud infrastructure misconfigurations and vulnerabilities in the design and build phase of the software development lifecycle. Tenable Holdings, Inc. was founded in 2002 and is headquartered in Columbia, Maryland.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Tenable Holdings reported revenue of $999M in FY2025 versus $541M in FY2021, a compound +16.6%/yr. Reported net income was −$36.1M in FY2025.
TENB screens 89% overvalued. Compare with Microsoft Corporation →
Recent news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Tenable (TENB) Widens Its AI Security Net Just As Profits Turn A Corner
- Tenable (TENB) Q2 2026 Earnings Call Transcript
- Tenable Holdings Reaches Analyst Target Price
- Is Tenable Holdings (TENB) Stock Rich Or Reasonable After A 58% Rally?
Peer Group
Software - Infrastructure · 369 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Software - Infrastructure median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 66/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Software - Infrastructure stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Microsoft Corporation MSFT | $506.06 | $365.74 | -28% |
| Oracle Corporation ORAC | C$7.22 | C$2.34 | -68% |
| Fortinet, Inc FTNT | $160.84 | $61.46 | -62% |
| Synopsys, Inc 1SNPS | €358.00 | €93.61 | -74% |
| Block, Inc XYZ | A$111.01 | A$70.69 | -36% |
| Range Intelligent Computing Technology Group 300442 | ¥67.70 | ¥30.89 | -54% |
| Oracle Financial Services Software Limited OFSS | ₹11,679 | ₹6,897 | -41% |
| 360 Security Technology Inc 601360 | ¥9.58 | ¥1.05 | -89% |
| One97 Communications Limited PAYTM | ₹1,610 | ₹241.68 | -85% |
| PT GoTo Gojek Tokopedia Tbk GOTO | 50.00 IDR | 20.41 IDR | -59% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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