VRNS PEER ANALYSIS

Varonis Systems — metric-by-metric comparison with peers and the industry median

VRNSVaronis Systems

🇺🇸 USA · NASDAQ · Technology · Software - Infrastructure

Value it Duel

Overall Profile & Returns

· Software - Infrastructure

Position Within Industry

0 = weak quartile, 100 = strong quartile

VRNSIndustry median

Scores normalize each metric against industry quartiles (p25–p75); direction is inverted for lower-is-better metrics.

Return Comparison

1-Year

Split-adjusted

Year-to-Date (YTD)

Key Metric Comparison

P/E

Lower is better

ROE

Higher is better

Net Margin

Higher is better

Revenue Growth

Higher is better

All Metrics

Valuation
Metric	VRNS	BB	ADYEN	ATATP	ARDYZ	Ind. Median
P/E	—	119.35	25.53	8.26●	26.80	28.52
P/B	11.70	9.53	5.13	2.42●	3.45	3.81
EV/EBITDA	—	76.56	12.14	4.03●	8.72	16.73
P/S	8.04	12.29	10.75	3.03●	3.55	3.39

Financial Health
Metric	VRNS	BB	ADYEN	ATATP	ARDYZ	Ind. Median
Current Ratio	1.69	2.20	168.11●	2.17	1.16	1.43
Debt/Equity	115.1%	29.5%	4.8%	0.8%●	24.4%	25.1%
NetDebt/EBITDA	2.39	-1.41	-7.76●	-0.09	0.54	-0.02

Profitability
Metric	VRNS	BB	ADYEN	ATATP	ARDYZ	Ind. Median
Net Margin	-19.7%	10.3%	42.1%●	36.7%	13.3%	8.9%
ROE	-31.8%	8.1%	22.3%	47.3%●	16.5%	14.2%
ROA	-8.1%	5.4%	9.0%	41.6%●	11.3%	4.0%
EBITDA Margin	-16.7%	15.8%	54.0%	73.6%●	43.5%	17.8%

Growth + Dividend
Metric	VRNS	BB	ADYEN	ATATP	ARDYZ	Ind. Median
Rev. Growth	15.2%	4.8%	25.2%	157.2%●	100.3%	10.2%
NI Growth	—	—	14.8%	331.0%●	23.8%	7.0%
Div. Yield	—	—	—	0.4%●	0.0%	0.8%
Payout	—	—	—	3.0%	0.0%	20.6%

Valuation
Metric	VRNS	WEX	RELY	QLYS	ZETA	TENB	Ind. Median
P/E	—	17.27●	49.58	27.91	—	—	28.52
P/B	11.70	4.21●	5.77	9.86	5.53	19.26	3.81
EV/EBITDA	—	10.32●	31.33	19.49	96.07	42.41	16.73
P/S	8.04	1.99●	3.03	8.20	3.39	4.68	3.39

Financial Health
Metric	VRNS	WEX	RELY	QLYS	ZETA	TENB	Ind. Median
Current Ratio	1.69	1.05	2.84●	1.43	2.07	0.78	1.43
Debt/Equity	115.1%	410.9%	4.3%●	9.2%	24.8%	168.9%	25.1%
NetDebt/EBITDA	2.39	4.72	-4.13●	-1.57	-1.41	0.52	-0.02

Profitability
Metric	VRNS	WEX	RELY	QLYS	ZETA	TENB	Ind. Median
Net Margin	-19.7%	11.5%	6.1%	29.4%●	-1.6%	-1.2%	8.9%
ROE	-31.8%	29.8%	13.0%	37.7%●	-3.0%	-3.7%	14.2%
ROA	-8.1%	2.1%	8.5%	19.3%●	-1.8%	-0.7%	4.0%
EBITDA Margin	-16.7%	35.5%	8.6%	38.9%●	3.5%	11.2%	17.8%

Growth + Dividend
Metric	VRNS	WEX	RELY	QLYS	ZETA	TENB	Ind. Median
Rev. Growth	15.2%	3.3%	27.3%	10.3%	33.6%●	10.7%	10.2%
NI Growth	—	-1.6%	—	11.0%●	—	—	7.0%
Div. Yield	—	—	—	—	—	—	0.8%
Payout	—	—	—	—	—	—	20.6%

The green dot marks the best value in the group given the metric direction (higher/lower is better). All metrics use trailing-twelve-month (TTM) data.

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Data on this page refreshes once per day. Price data as of Jul 7, 26. This content is for informational purposes only and is not investment advice.